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The country’s first auction of 2017 will offer onshore areas. The government will also auction post-salt and presalt areas.
The acquisition is expected to add 3.4 Bboe, bringing ExxonMobil’s Permian resource base to 6 Bboe, the company said.
Sanchez and private-equity company Blackstone Energy will pay in equally for 155,000 net acres in the Eagle Ford while Anadarko looks to spend in the D-J and Permian basins.
To better gauge resource potential, ExxonMobil said the discovery is being evaluated with two sidetracks drilled. A well test is underway.
Advanced seismic data helped the company discover additional pay.
The move followed the federal government’s decision to remove the Mid-Atlantic and South Atlantic Planning Areas of the Atlantic Ocean from the 2017-2022 Outer Continental Shelf Oil and Gas Leasing Program.
The first 3-D seismic survey ever shot offshore Newfoundland and Labrador has delineated a new Lower Tertiary play.
Reduced exploration budgets have seriously harmed the sector.
The agreement gives Total stakes in the Iara and Lapa fields and gives Petrobras an option to acquire interest in the Perdido Belt area in the Gulf of Mexico.
Industry groups are confident the incoming administration will reverse the move.
The company struck oil in Green Canyon and just south of Keathley Canyon in the Sigsbee Escarpment.
Data from the EIA show overall crude oil proved reserves fell by nearly 12% and gas reserves sank by more than 16% in 2015, compared to the previous year.