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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.
Nabors’ roughly $216 million acquisition of Tesco is ‘rare win-win in oil patch consolidation,’ analyst says.
Scheduled for September, the round will offer 287 blocks in onshore and offshore basins.
The move follows expressions of interest by a consortium of Total, ExxonMobil and Hellenic Petroleum for exploration in two sites off the island of Crete and by Greece’s Energean for a block in the Ionian Sea in western Greece.
Oil and Natural Gas Corp. Ltd. (ONGC), India’s top explorer, said on Aug. 4 it has bought an 80% participating interest and operatorship in one of Gujarat State Petroleum Corp.’s (GSPC) blocks in the Krishna Godavari Basin offshore.
Cox Oil Offshore's acquisition comprises Freeport-McMoRan's interests in the Flatrock and Hurricane areas of the OCS-310 “Tiger Shoal” lease.
Petronas has been awarded shallow-water Block 6 in the GoM’s Salina Basin, the company said in a statement.
The concessions are located in the Campos, Ceará, Potiguar, Santos and Sergipe-Alagoas basins.
The Blane Field had gross production of about 2,900 barrels per day of oil equivalent last year. Faroe is an existing partner in the U.K. license.
China’s foreign minister on July 25 said he supported the idea of joint energy ventures with the Philippines in the disputed South China Sea, warning that unilateral action could cause problems and damage both sides.
Britain's Oil and Gas Authority's 30th licensing round offers access to mature areas in the Southern, Central and Northern North Sea, the West of Shetland and East Irish Sea.