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‘Onshore drilling just has better economics currently [and] cycle times also play a key role in offshore projects versus onshore drilling,’ said Sarp Ozkan, DrillingInfo’s director of energy analysis.
Safeguards considered a blow to country’s oil industry.
Oil service firm Archer will hire more people in Norway amid rising demand, the Oslo-listed company said on Aug. 14.
Pipeline constraints are pushing the number of drilled but uncompleted wells higher in the Permian Basin.
Faroe Petroleum has farmed into the U.K. Continental Shelf (UKCS) Agar Plantain exploration and appraisal well close to the U.K./Norwegian median line, operated by Azinor Catalyst Ltd., the company said Aug. 14.
Analysts with Tudor, Picking, Holt & Co. said Ensign’s proposed acquisition of Trinidad would create one of the largest North American land drillers with critical mass in many key international markets.
OPEC on Aug. 13 forecast lower demand for its crude next year as rivals pump more and said top oil exporter Saudi Arabia, eager to avoid a return of oversupply, had cut production.
More discussions could be held this week although nothing had been fixed, Wullie Wallace, regional officer for the Unite union, told Reuters. The workers are striking over proposed changes to their working rotas and pay.
Ghana’s President Nana Akufo-Addo replaced his sacked energy minister on Aug. 9 in a reshuffle that still maintained the West African country's high number of ministers—110 in total.
Some of the capital will go toward appraisal work for emerging plays across the Permian Basin and technologies, Oxy executives said.
The sale process for Houston-based SDI began recently, said three sources who spoke on condition of anonymity as the information has not been made public.
Brent crude futures were up 19 cents at $72.47 barrel by 8:15 CST, after having lost more than 3% on Aug. 8. U.S. crude futures rose 6 cents to $67.00 a barrel, having closed down 3.2% the day before.