Exxon to buy Denbury for $4.9bn in CO2 pipeline push
Denbury’s Rocky Mountain assets are connected to Exxon’s Shute Creek gas facility near LaBarge, Wyoming, which has captured more carbon than any other asset in the US.
E&P
CGX share price slides despite Guyana success
Drilling costs have been an issue at the Wei well. In June, CGX reported these had risen to $190-195mn. Before drilling, the companies had predicted $130-140mn.
Woodside takes FID on $7.2bn Trion development
Pemex discovered Trion in 2012. The Mexican company brought BHP Billiton in to the plan in 2016 in order to help develop the field. Now, the companies have drilled six wells on the field. Woodside bought BHP in 2022.
Trinidad dishes out blocks, Touchstone, Trinity among winners
“We are planning to fast track the first exploration well on Buenos Ayres within the next 12-18 months, subject to acquiring environmental approvals.”
CNOOC Ltd launches Brazil project, offshore CCS
“The successful commissioning of the Enping 15-1 oilfield CCS demonstration project will strongly support the company’s efforts in increasing reserves and production and pursuing green and low-carbon development,” said CEO Zhou Xinhuai.
Chevron makes $7.6bn all-stock offer for PDC
The deal valued PDC at $6.3 billion, or $72 per share. The company is currently trading at around $65, with the deal offering a 11% premium.
FSO hook up complete, Perenco looks to Brazil’s regulators
Perenco bought a 100% stake in the Pargo, Carapeba and Vermelho fields from Petrobras. After adjustments, Perenco paid $398 million for the assets offshore Rio de Janeiro state. It also took over the decommissioning liability.
SBM wins $3bn FPSO maintenance contract in Guyana
SBM said it would operate the units via an Integrated Operation Model. This will involve seconding ExxonMobil Guyana employees to some onshore and offshore positions.
Exxon greenlights fifth project offshore Guyana
Six FPSOs could be producing on Stabroek by the end of 2027, with capacity of more than 1.2 million bpd. The number of FPSOs could rise to 10, aiming to produce the more than 11 billion barrels.
Wintershall pinpoints Mexico for diversified E&P growth
Speaking this morning at a media roundtable, Wintershall CEO Mario Mehren said the company was focused on two strategic priorities. “Diversification, through moderate growth for our E&P business. And decarbonisation, by building up our carbon management and hydrogen business.”
Shell fires up Vito, with Whale to follow
Where Vito has led, Shell’s Whale will follow. The company reached FID on Whale in 2021 and it is due to begin producing in 2024.
Maurel pays down debt, progresses Wentworth deal
Operations had returned to normal in the third quarter in Gabon, Maurel said. The company began a well stimulation campaign in the fourth quarter of 2022, with the field now capable of producing more than 21,000 bpd.
Westwood tips Africa, Latin America for high-impact hopes in 2023
Explorers are “taking a measured view and holding budgets and activity steady whilst trying to improve overall exploration efficiency”, Westwood said.
Transocean takes eight-gen Titan for Chevron work
Transocean ordered the two drillships in February 2014, agreeing to pay $540 million for each of the vessels. Sembcorp said it would deliver the rigs in 2017 and 2018.
Exxon lands two more off Guyana
ExxonMobil has scored another two finds offshore Guyana its incredibly prolific Stabroek block.
APA scores first Suriname find in Block 53
APA Corp has discovered oil offshore Suriname on Block 53, while abandoning another well on Block 58.
Exxon racks up another two Guyana finds
ExxonMobil has made another two discoveries in the Stabroek block, bringing the total number of its finds offshore Guyana to more than 25.
Shell buys into Total-spurned Gulf of Mexico project with Equinor
Shell is buying a 51% stake in the North Platte development, in the US Gulf of Mexico, from Equinor, the Norwegian company has revealed.
Eco drops JHI deal over lock-up differences
Eco Atlantic Oil & Gas has dropped its plans to acquire JHI Associates, which has a 17.5% stake in a Guyana block.
BP exits Canadian oil sands, doubles down offshore
BP is selling off its oilsands project in Canada under a deal with Cenovus Energy, which will see it paid in cash and a stake in the offshore Bay du Nord project.
Shell joins Exxon with $1 billion Brazil exploration setback
Expensive offshore exploration setbacks for international oil majors including Shell and Exxon Mobil are throwing cold water on their plans to turn Brazil into a profit center.
Pantheon plans out its next steps in Alaska
Pantheon Resources has a multi-billion barrel resource in the occasionally iced over state of Alaska, the company reckons. It will put the theory to the test this summer.
11 billion barrels: ExxonMobil boosts Guyana numbers with trio of discoveries
ExxonMobil has made a trio of new discoveries offshore Guyana, boosting recoverable resources from the prolific Stabroek Block to nearly 11 billion barrels of oil equivalent.
Canada approves Equinor’s Bay du Nord plan
The Canadian government has approved Equinor’s Bay du Nord project, albeit with the strongest ever greenhouse gas conditions.
Exxon seizes Yellowtail with fourth Guyana FID
ExxonMobil has taken its fourth final investment decision (FID) in Guyana on the Yellowtail project.