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North-Sea focused Premier Oil has agreed to sell its stake in British onshore oil field Wytch Farm, western Europe's largest onshore oil field.
Oil and gas companies have survived the worst of the downturn. Now it’s time to begin thinking about growth and developing a platform that can produce higher returns over the long term.
BHP CEO Andrew Mackenzie said the preference would be a small number of trade sales, but refused to give a timetable for quitting the U.S. shale business.
The acquisition is expected to increase Total’s output to 3 MMboe/d by 2019.
The company has identified up to 200,000 acres in the Midland and Delaware sub-basins for transactions in 2017-2018.
Statistics from the Aug. 16 sale show 27 companies participated and submitted 99 bids on 90 tracts. Total E&P USA submitted the highest single bid at $12.1 million.
Nabors’ roughly $216 million acquisition of Tesco is ‘rare win-win in oil patch consolidation,’ analyst says.
Scheduled for September, the round will offer 287 blocks in onshore and offshore basins.
The move follows expressions of interest by a consortium of Total, ExxonMobil and Hellenic Petroleum for exploration in two sites off the island of Crete and by Greece’s Energean for a block in the Ionian Sea in western Greece.
Oil and Natural Gas Corp. Ltd. (ONGC), India’s top explorer, said on Aug. 4 it has bought an 80% participating interest and operatorship in one of Gujarat State Petroleum Corp.’s (GSPC) blocks in the Krishna Godavari Basin offshore.
Cox Oil Offshore's acquisition comprises Freeport-McMoRan's interests in the Flatrock and Hurricane areas of the OCS-310 “Tiger Shoal” lease.
Petronas has been awarded shallow-water Block 6 in the GoM’s Salina Basin, the company said in a statement.