Exclusives

Mexico, oil and gas, blocks, offshore, deepwater, unconventional, Juan Carlos Zepeda, Aldo Flores

Energy officials are promoting potentially oil- and gas-rich deepwater and shallow-water blocks as they look to offer more acreage onshore.

Patterson-UTI Evolves With $215 Million Deal For Directional Driller

Patterson-UTI will acquire MS Energy, the second largest directional drilling company in U.S. onshore, on a debt-free basis.

Talos Energy, Eni, Mexico, offshore, oil, shallow water

Operators are finding oil in Mexico’s shallow waters as they look to grow reserves.

Apache Exits Canada In Three Deals Worth $713 Million

Apache’s Canadian divestitures will unlock value as the Houston-based company builds momentum in the prolific Permian Basin.

Mexico, Round 2, oil and gas, Gulf of Mexico

The tender was held about six months after the country’s successful deepwater auction and comes amid a shaky market recovery.

Land & Leasing

Ahead of a fifth round of NAFTA talks in Mexico City in mid-November, Washington's tough demands that partners Canada and Mexico resist has clouded the future of the 23-year-old pact.

Cenovus plans to use the proceeds to pay down a bridge loan it took to fund its $13.3 billion deal to buy oil sands and natural gas assets from ConocoPhillips earlier this year.

Egypt’s Cheiron Holdings Ltd. won the rights to partner with Mexican national oil company Pemex on its onshore Cardenas-Mora project, the industry regulator said Oct. 4.

Cenovus said the proceeds from the Pelican Lake sale would be used to pay down debt used to fund the $13.3 billion acquisition of some assets from ConocoPhillips in March.

Petronas has been awarded shallow-water Block 6 in the GoM’s Salina Basin, the company said in a statement.

Reservoir Evaluation

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.

Wildcats & Stepouts

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).

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.

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.