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How effective Mexican regulators are at managing concerns and informing stakeholders will impact the pace of the country’s energy reformation journey.
The Eagle Ford has produced 2.5 billion barrels of oil and will generate another 2.1 billion barrels, DrillingInfo Executive Chairman Allen Gilmer told attendees of the recent DUG Eagle Ford conference.
Energy officials are promoting potentially oil- and gas-rich deepwater and shallow-water blocks as they look to offer more acreage onshore.
Patterson-UTI will acquire MS Energy, the second largest directional drilling company in U.S. onshore, on a debt-free basis.
Operators are finding oil in Mexico’s shallow waters as they look to grow reserves.
Mexico’s National Hydrocarbons Commission (CNH) said 36 companies from 14 countries have qualified to bid during the country’s next tender.
The geological intelligence gleaned from the Whale discovery explains why Shell bid so aggressively for the Mexican blocks, something that had confounded industry experts.
The National Hydrocarbons Commission (CNH), Mexico’s oil regulator, on March 1 launched a call for bids for its first shale tender including nine contractual areas that will be awarded on Sept. 5.
ExxonMobil is selling its entire stake in the Terra Nova oil project off the eastern coast of Canada but said it was committed to remaining an investor in the region.
STEP Energy Services said the acquisition of Tucker gives it an "efficient and strategic entry" into the U.S. fracking market and also complements its existing coiled tubing presence in the Permian and Eagle Ford.
Pemex CEO Emilio Lozoya said the discoveries were made during the second half of this year, adding 180 million barrels of oil equivalent (MMboe) to the company's proven, probable and possible reserves.
During the current campaign, the Qugruk 8 (Q-8) well flowed 30 degree API gravity crude at rates of up to 2,160 barrels of oil per day (bbl/d), and the Qugruk 301 (Q-301) horizontal well yielded rates as high as 4,600 bbl/d, Repsol said in the release.
Pena Nieto said Pemex made the discovery by drilling its onshore Ixachi well in the municipality of Cosamaloapan, and the overall field is believed to hold some 350 million barrels of proven, probable and possible reserves.
Drilled 10 km (6 miles) from the Amoca discovery in a water depth of 33 m (108 ft), the well’s data indicate a single 280-m (919-ft) thick oil column, said Eni, which estimates the oil gravity at between 28 degree and 30 degree API. The well reached a final depth of 3,430 m (11,253 ft).
The discovery located in state waters offshore Alaska could hold as much as 10 billion barrels of oil in place.
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 emerging Paleogene play in the US Gulf of Mexico continues to offer increasing encouragement for major deepwater discoveries, with Chevron confirming a significant find.