Vår Energi’s North Sea discovery de-risks drilling prospects in the area and could be tied back to Balder area infrastructure.
Here’s a roundup of the latest E&P headlines, including new contract awards.
CNOOC said the Qinhuangdao 27-3 oilfield has been tested to produce approximately 742 bbl/d of oil from a single well.
TPH&Co. analysis shows the Permian Basin will lose rigs near term, but as activity in gassy plays ticks up later this year, the Permian may be headed towards muted activity into 2025.
NOV expects to increase its quarterly cash dividend on its common stock by 50% to $0.075 per share from $0.05 per share.
Spain’s Repsol plans to drop its Marcellus Shale rig in June and reduce capex in the play due to the current U.S. gas price environment, CEO Josu Jon Imaz told analysts during a quarterly webcast.
Record-breaking E&P consolidation is rippling into oilfield services, with much more M&A on the way.
The number of oil rigs fell by five to 506 this week, while gas rigs fell by one to 105, their lowest since December 2021.
Marathon Oil’s first quarter 2024 dividend is payable on June 10.
Henry Hub blues: CNX Resources and other Appalachia producers are slashing production and deferring well completions as natural gas spot prices hover near record lows.
The final phase of Chevron’s project will produce about 260,000 bbl/d.
Baker Hughes Co. increased its quarterly dividend by 11% year-over-year.
Halliburton’s deepwater integrated multi-well construction contract for a block in the Orange Basin starts later this year.
Halliburton CEO Jeff Miller says expected organic growth generates more shareholder value than following consolidation trends, such as chief rival SLB’s plans to buy ChampionX.