Equinor and its license partners Source Energy AS and Wellesley Petroleum AS have discovered gas and condensate in exploration well 30/2-5 S Atlantis. Based on preliminary estimates, the proven reserves are between 3 and 10 million standard cu m of recoverable oil equivalent, corresponding to 19-63 million BOE...

Acoustic Data announced it has been awarded a $4.5 million three-year contract by a supermajor to deploy its SonicGauge Wireless Monitoring System in onshore gas fields in Asia...

Amid low prices and a vast oil oversupply, drilling industry may need to look to strategic partnerships and diversification for survival By Stephen Whitfield, Associate Editor As the economic impacts of the COVID-19 pandemic drag on and the reality of a much-lower-for-longer environment really sets in, oilfield companies are recognizing that finding a path to survival has become more critical than ever. The WTI price has shown some slight improvement since its crash in late April, reaching $40.73 on 22 June. While this price still reflects a 36% drop from the 2020 high – $63.05 on 3 January – it is much closer to the mid-$40s, where the WTI averaged in the first week of March. That was just before ...

According to GlobalData, Latin America’s oil and gas sector is facing unprecedented challenges caused by a combined collapse in commodity prices and crude oil demand due to the COVID-19 pandemic...

Eni, BP and Total have successfully drilled the first exploration well in the North El Hammad license, in the conventional Egyptian waters of the Nile Delta, on the Bashrush prospect...

Maersk Drilling has secured a contract for the Mærsk Developer semisubmersible rig, which will be employed by PETRONAS for a one-well exploration campaign in Block 52 offshore Suriname...

Chesapeake Energy Corporation announced that the company has voluntarily filed for Chapter 11 protection in the US Bankruptcy Court for the Southern District of Texas to facilitate a comprehensive balance sheet restructuring...

CNOOC announced that the company made a significant discovery of Huizhou 26-6 in the Eastern South China Sea. It is expected to become the first mid-to-large sized condensate oil and gas field in the shallow water area of the Pearl River Mouth Basin...

According to a recent analysis from Wood Mackenzie, the oil price crash wiped $1.6 trillion off the valuation of the global upstream industry...

According to OPIS, an IHS Markit company, gasoline consumption in the US has just hit a big milestone; it is now more than halfway back to pre-COVID-19 levels...