Neiden exploration well 7220/6-2R, located in PL609 northeast of the Alta discovery on the Loppa High in the southern Barents Sea, hit a gross 31-m hydrocarbon column, with 21 m of oil and 10 m gas in the Permian target, Lundin Petroleum said in a statement.

ExxonMobil, offshore, Nigeria, discovery, oil, Owowo

The supermajor says it has discovered between 500 million and 1 billion barrels of potential recoverable resources in the Owowo Field offshore Nigeria.

The well is the final well in the first stage of Origin’s Beetaloo Basin joint venture with Falcon Oil & Gas Ltd.

Caelus Energy, Smith Bay, oil, North Slope, Alaska, discovery

The discovery located in state waters offshore Alaska could hold as much as 10 billion barrels of oil in place.

In 2015, the U.S. restricted exports, reexports and transfers of technology and equipment to the Yuzhno-Kirinskoye Field, which is part of the wider Kirinskoye deposit, Reuters reported.

Pemex estimates its average production will be 1.9 MMbbl/d in 2017, its lowest level since 1980, as a result of the spending cuts, Reuters reported.

The initial quantities discovered were estimated at about half a trillion cubic feet of gas with more possible reserves, Shell CEO Eden Murphy said in a statement.

A stabilized gas flow rate of 17 MMscf/d was reached on Aug. 7, the company said, noting the results “represents a highly commercial rate.”

Shell, Gulf of Mexico, deepwater, divestment, Ben van Beurden, Fort Sumter

News of a deepwater Gulf of Mexico discovery is made as the company reports falling profits and growth priorities.

A sidetrack appraisal well on the Brasse discovery in the Norwegian North Sea has encountered a 25-meter (m) gross oil column and a 6-m gross gas column, Faroe Petroleum said in a news release.

ExxonMobil, Hess, Liza, oil, discovery, offshore, Guyana

Drilled to 5,475 m in 1,692 m of water, the Liza-2 well encountered more than 58 m of oil-bearing sandstone reservoirs in Upper Cretaceous formations.

Sonangol said Block 20/11 held an estimated 313 MMbbl  of condensate and 2.8 trillion cubic feet of gas, Reuters reported.

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