Jennifer
Pallanich
Hart Energy
Vår Energi Hits Oil with Ringhorne North
Vår Energi’s North Sea discovery de-risks drilling prospects in the area and could be tied back to Balder area infrastructure.
E&P Highlights: April 1, 2024
Here’s a roundup of the latest E&P headlines, including new contract awards.
CNOOC Makes 100 MMton Oilfield Discovery in Bohai Sea
CNOOC said the Qinhuangdao 27-3 oilfield has been tested to produce approximately 742 bbl/d of oil from a single well.
TPH: Lower 48 to Shed Rigs Through 3Q Before Gas Plays Rebound
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.
The Latest
Oil and Gas Chain Reaction: E&P M&A Begets OFS Consolidation
Record-breaking E&P consolidation is rippling into oilfield services, with much more M&A on the way.
US Drillers Cut Most Oil Rigs in a Week Since November
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 Declares 1Q Dividend
Marathon Oil’s first quarter 2024 dividend is payable on June 10.
CNX, Appalachia Peers Defer Completions as NatGas Prices Languish
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.
Chevron’s Tengiz Oil Field Operations Start Up in Kazakhstan
The final phase of Chevron’s project will produce about 260,000 bbl/d.
Baker Hughes Hikes Quarterly Dividend
Baker Hughes Co. increased its quarterly dividend by 11% year-over-year.
Rhino Taps Halliburton for Namibia Well Work
Halliburton’s deepwater integrated multi-well construction contract for a block in the Orange Basin starts later this year.
Halliburton’s Low-key M&A Strategy Remains Unchanged
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.
Baker Hughes Awarded Saudi Pipeline Technology Contract
Baker Hughes will supply centrifugal compressors for Saudi Arabia’s new pipeline system, which aims to increase gas distribution across the kingdom and reduce carbon emissions
Deepwater Roundup 2024: Americas
The final part of Hart Energy E&P’s Deepwater Roundup focuses on projects coming online in the Americas from 2023 until the end of the decade.