Oil and gas companies are exploring in disparate parts of the world to add more reserves to fulfill growing world energy demand. Egypt intensified oil and gas exploration efforts in the Mediterranean and Red Sea while Ecuador recently opened more onshore blocks to international investors.
Researchers improved and stabilized production for 75 vertical wells on Su-A block of China’s Sulige tight sandstone gas field. They implemented measures that could guide the development of ultralow permeability gas reservoirs elsewhere.
Beach Energy Ltd., Adelaide, has sold 40% of its Victorian-Tasmanian Otway basin interests to Monaco-based Israeli businessman Eyal Ofer’s OG Energy Holdings Ltd. for $344 million (Aus.) in cash.
LLOG Exploration Co. LLC, Covington, La., has brought online several wells in the deepwater Gulf of Mexico and will move forward with additional development projects.
Consistently higher oil prices and greater cost–efficiency in offshore projects are driving increased demand for offshore drilling rigs through 2020, particularly for deepwater projects, according to recent analysis from IHS Markit.
Egypt remains at the top of the list for international oil companies (IOC), mid-caps, and small exploration and production (E&P) companies considering new concessions.
Eastern Australian politicians and industry are grappling with a looming east coast domestic natural gas supply crisis. Sydney-based Gulf Energy Ltd. has secured a leasehold over the whole of a new exploration area called Bamaga basin in the Gulf of Carpentaria, 150 km off the north Queensland coast.
Lundin Petroleum plans an extended well test and further exploration drilling following positive results on Rolvsnes that derisk the similar on-trend prospectivity on an adjacent license.
Equinor is introducing new measures to transform the Norwegian continental shelf to tackle future challenges of declining production, ageing installations, and the need for reduced carbon dioxide emissions.
Sherritt International Corp., Toronto, has resumed drilling of its second exploration well on Block 10 in Cuba after suspending work last year to study wellbore targeting.
The state of Alaska is offering what officials describe as “a veritable cornucopia of information” for anyone interested in exploring for North Slope oil.
Plans are progressing for the next stage of methane hydrate scientific drilling by the University of Texas at Austin (UT) and its partners on the US Outer Continental Shelf (OCS). Researchers hit a momentary snag regarding research vessels.
The exploitation of unconventional (continuous) resource plays with horizontal drilling and fracturing techniques continues to spur renewed development in mature producing basins in the US. The Permian basin of west Texas has emerged as a particularly strong prospect due to the potential for multiple stacked resource plays in formations such as the Wolfcamp shale and Spraberry and Bone Spring formations.
Valeura's Yamalik-1 discovery well is opening a basin-centered gas play in western Turkey's Thrace basin.
