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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 president-elect, Andres Manuel Lopez Obrador, assured private energy executives in a closed-door meeting on Sept. 27 their contracts will not be canceled if they meet existing terms, the head of the country’s main oil producers’ association said.
Mexico’s incoming government has begun its promised review of oil contracts, starting with a major project won by a consortium led by U.S.-based Talos Energy, the country’s next energy minister said.
Mexico’s leftist presidential front-runner, Andres Manuel Lopez Obrador, may allow more oil and gas fields to be auctioned off if elected on July 1, a top adviser said June 25, striking a moderate tone days before the election.
Canadian oil and gas producer Baytex Energy said it would buy rival Raging River Exploration for about C$2.8 billion (US$2.13 billion) to expand in the oil-rich Duvernay Field in Alberta.
The combined company will operate under the Akita name and have a fleet of 44 high-spec drilling rigs with operations in several major resource basins in the U.S. and Canada.
Talos Energy Inc.’s appraisal plan for the Zama discovery was approved by the Mexican oil and gas regulator, the company said on Sept. 27.
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.