Exclusives

Talos Energy, Eni, Mexico, offshore, oil, shallow water

Operators are finding oil in Mexico’s shallow waters as they look to grow reserves.

Oil And Gas: What’s In It For Millennials?

The industry can take plenty of steps to help attract and retain the younger generation.

Apache Exits Canada In Three Deals Worth $713 Million

Apache’s Canadian divestitures will unlock value as the Houston-based company builds momentum in the prolific Permian Basin.

Partner, I’ve Got A Headache, Or, How To Make Your JV ‘Marriage’ Work

Like in a marriage, partners in an energy JV must plan ahead, communicate and develop trust.

Mexico, Round 2, oil and gas, Gulf of Mexico

The tender was held about six months after the country’s successful deepwater auction and comes amid a shaky market recovery.

Deepwater International

The emerging Paleogene play in the US Gulf of Mexico continues to offer increasing encouragement for major deepwater discoveries, with Chevron confirming a significant find.

Shell's CEO Ben van Beurden says, "there is a lot more to do" in its North American deepwater sectors. 

Exploration

Petronas has been awarded shallow-water Block 6 in the GoM’s Salina Basin, the company said in a statement.

Monterrey-based Jaguar Exploracion y Produccion de Hidrocarburos took a stake in over half the areas awarded, which the oil industry regulator said would eventually yield about $2 billion in investments over the 30-year lifespan of the contracts.

The government had previously said three more tenders were planned, but Coldwell said a fourth would be a mix of fields including some deepwater areas. The tender could also include shallow-water fields as well as gas-rich shale areas, he said.

Canada Pension Plan Investment Board, the country's biggest public pension fund, plans to invest up to $1 billion to buy oil and gas assets in the U.S. in a partnership with Encino Energy Ltd.

Rubicon Oilfield International, backed by Warburg Pincus, acquired the assets, people and operating business of Calgary, Alberta-based World Oil Tools for an undisclosed amount.

Production

The total rig count in the U.S. was unchanged this week at 952 as the nation’s drillers added two oil rigs but took away just as many gas rigs, according to the latest rig report from Baker Hughes (NYSE: BHGE).

The approval is conditional on Eni getting other state and federal permits, which in past cases are generally granted once BOEM gives the green light.

Drillers added seven oil rigs in the week to July 7, bringing the total count up to 763, the most since April 2015, Baker Hughes energy services company said in its closely followed report on July 7.

Drillers cut two oil rigs in the week to June 30, bringing the total rig count down to 756, still more than double the 341 rigs in the same week a year ago, energy services firm Baker Hughes Inc. (NYSE: BHI) said in its closely followed report on June 30.

Drillers added 11 oil rigs in the week to June 23, bringing the total count up to 758, the most since April 2015, energy services firm Baker Hughes Inc. (NYSE: BHI) said in its closely followed report.

Technology

The total U.S. rig count increased by eight to end the week of July 28 with 958 rigs compared to last week, according to the latest report from Baker Hughes, a GE company (NYSE: BHGE). That’s up from 463 a year ago.

ConocoPhillips now plans to spend $4.8 billion this year, down from a prior estimate of $5 billion. The cut came after the company's quarterly loss more than tripled despite recent asset sales.

U.S. rigs targeted oil and gas each fell by one, bringing the total U.S. rig count down to 950.

Encana has benefited from downsizing its operations to focus on four core North American assets: the Montney and Duvernay in Canada, and the Eagle Ford and Permian in the U.S.

Standing beside his Mexican counterpart Pedro Joaquin Coldwell during a visit to Mexico City, Perry said it was a top priority to agree on a North American energy strategy, develop untapped resources and diversify energy supplies.