More Oil & Gas Exploration and Development News

Obama makes Alaska's Bristol Bay off-limits for oil, gas activity

Jan 12, 2015

US President Barack Obama placed Bristol Bay off-limits for future oil and gas leasing, extending a temporary withdrawal he imposed in 2010 that was due to expire in 2017.

Watching Government: This year's 'infrastructure' matters

Jan 12, 2015

In one of the busiest Decembers ever for oil and gas in the nation's capital, one word-infrastructure-kept popping up as a key challenge for 2015.

Condensate export status a problem with easy solution

Jan 12, 2015

Some perplexing problems have simple solutions.

Petrobras confirms light oil potential of Sergipe basin’s Muriu area

Jan 9, 2015

Petroleo Brasileiro SA (Petrobras) has confirmed the continuation of the light oil accumulation in turbidite sandstone in the Muriu area of the ultradeepwater Sergipe basin.

Barclays sees likely downside to North American E&P budgets

Jan 9, 2015

Global exploration and production spending is expected to decline at least 8.8% in 2015 vs. 2014, according to 225 companies surveyed in the Barclays E&P Spending Outlook. North American budgets, meanwhile, are expected to fall at least 14.1% with significant downside potential, Barclays said.

Sharp drop expected in global E&P spending in 2015, study says

Jan 8, 2015

Global capital expenditures for oil and gas exploration and production projects are expected to drop 17% to $571 billion in 2015, according to Cowen and Co.’s annual study of 476 oil and gas companies’ E&P capex budgets. The study assumes an average West Texas Intermediate price of $70/bbl.

CNOOC makes another gas discovery in Qiongdongnan basin

Jan 6, 2015

CNOOC Ltd. reported making a natural gas discovery with its Lingshui 25-1-1 exploration well drilled in the northeast part of Ledong Sag in the Qiongdongnan basin of the South China Sea. Average water depth is about 980 m.

Chevron makes oil discovery in deepwater gulf Anchor prospect

Jan 6, 2015

Chevron Corp. reported a discovery of oil pay in multiple Lower Tertiary Wilcox sands in its Anchor prospect’s Green Canyon Block 807 Well No. 2, drilled in the deepwater Gulf of Mexico.

For the US economy, a falling oil price has drawbacks, too

Jan 5, 2015

Cheer in the US about an economic lift from falling oil prices needs qualification.

Russia sanctions realign Arctic exploration, geopolitics

Jan 5, 2015

The latest Western sanctions on Russia's Arctic gas industry, including OAO Gazprom and OAO Novatek, have had a geopolitical impact on the Kremlin. This may lead to closer relations between China and Russia in the region.

OGJ Newsletter

Jan 5, 2015

International news for oil and gas professionals

Trinidad and Tobago to develop ‘master plan’ for gas development

Dec 29, 2014

Trinidad and Tobago’s government has hired UK-based consulting firm Poten & Partners to develop a natural gas master plan for the Caribbean twin-island nation.

BLM prepares preliminary EA for protective lease sale in Idaho

Dec 29, 2014

The US Bureau of Land Management has prepared a preliminary environmental assessment analyzing potential impacts of offering five parcels totaling more than 6,350 acres in Payette County, Ida., east of Boise.

Chevron, ONGC Videsh among firms awarded permits by New Zealand

Dec 22, 2014

New Zealand's government has awarded six onshore permits across the Taranaki, West Coast, and East Coast basins, and nine offshore permits across the Taranaki, East Coast, Reinga-Northland, and Pegasus basins, all part of the country's Block Offer 2014.

Cenovus trims budget, slows oil sands work

Dec 22, 2014

Cenovus Energy Inc., Calgary, is trimming its capital spending in response to falling crude prices and will slow development of some of its thermal oil sands projects in Alberta.

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