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The company has identified up to 200,000 acres in the Midland and Delaware sub-basins for transactions in 2017-2018.
Statistics from the Aug. 16 sale show 27 companies participated and submitted 99 bids on 90 tracts. Total E&P USA submitted the highest single bid at $12.1 million.
The investment plans include drilling more wells in Colombia, where the company recently made a commercial discovery, and exploration activities in Kazakhstan and Bangladesh.
Nabors’ roughly $216 million acquisition of Tesco is ‘rare win-win in oil patch consolidation,’ analyst says.
Exploration activity targeting Jurassic carbonate reservoirs in North Kuwait has led to the discovery of six major tight gas fields in the last decade.
Scheduled for September, the round will offer 287 blocks in onshore and offshore basins.
Cobalt hopes to finalize the bidding process for its GoM assets in September as it continues to resolve concerns with its Angola assets sale.
The partnership was formed as the oil and gas industry works to keep exploration efforts alive following spending cuts caused by lower commodity prices.
Egypt is speeding up negotiations with neighboring countries to finalize the demarcation of borders in the Mediterranean, which proved to hold huge reserve of natural gas compared to the Red Sea.
A new workflow takes some of the guesswork out of reservoir modeling.
A new free software tool provides probabilistic assessment of potentially active faults.