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What will be the next big thing in the North American oil patch? Look to “some things old, something new.”
The head of the world’s largest oilfield service company says the world could face a medium-term supply deficit given today’s reserves depletion rate and falling exploration spending.
More than 2 million sq km (772,204 sq miles) of new 2-D and 3-D seismic are expected to lure companies to Mexico’s E&P sector.
Talos Energy specializes in revitalizing older assets by coupling new technology and additional drilling investment. E&P recently spoke to Talos CEO and president Tim Duncan about the U.S. Gulf of Mexico and Gulf Coast regions.
Operators managed to spud 78 deepwater exploration wells in 2016, while deepwater wells drilled had been cut by half.
Seven years since its last assessment, additional drilling and data show the shale plays outshine the Marcellus and Utica, both of which were last assessed at the beginning of the decade.
Students at the Colorado School of Mines discussed promising results from a Wattenberg Field study area at the Reservoir Characterization Project spring meeting in Golden, Colo.
Of the 14 presalt fields to be auctioned during the next two years, 10 are located in the Santos Basin.
The Snoek well, southeast of the Liza discovery, hit high-quality oil-bearing sandstone reservoirs, the company said.
Cash proceeds will be used to reduce company debt to $20 billion in 2017 and double existing share repurchase authorization to $6 billion.
Forty British companies came to the South American country in order to reinforce networking and business expansion.
Results show the oil and gas industry still has interest in the Gulf of Mexico as market conditions improve.