Exploration

E&Ps, OFS Operators Looking to Boost Capex, Restore Investor Confidence

E&Ps, OFS Operators Looking to Boost Capex, Restore Investor Confidence

Global exploration operators are ready to get back to business in oil and natural gas onshore and offshore, with the international players likely to shell out more funds this year than their Lower 48 compadres. Energy analysts in recent weeks have begun offering their takes on the likely pace of activity and potential capital expenditures…

January 8, 2021
Tax Break or No, Mexico’s Pemex Likely to Require More Government Support, Fitch Says

Tax Break or No, Mexico’s Pemex Likely to Require More Government Support, Fitch Says

Mexican state oil company Petróleos Mexicanos (Pemex) would require more government support over the coming years if it wants to increase capital expenditures (capex) without taking on more debt, even if proposed tax breaks for the firm are passed by legislators, according to Fitch Ratings. Senator Armando Guadiana, a member of President Andrés Manuel López…

December 21, 2020
Mexico Natural Gas Market Said Underpinned by Strong Fundamentals Despite Policy Concerns

Mexico Natural Gas Market Said Underpinned by Strong Fundamentals Despite Policy Concerns

Despite concerns about the energy policies of Mexico’s current government, there is plenty of reason to be optimistic about the country’s nascent natural gas market, according to NGI’s Christopher Lenton, senior editor for Mexico and Latin America. Lenton spoke last week at the LDC Natural Gas Forum 2020 about his reasons for optimism, which include…

November 18, 2020
Comstock Ramps Haynesville Activity in Anticipation of Higher Natural Gas Prices

Comstock Ramps Haynesville Activity in Anticipation of Higher Natural Gas Prices

Haynesville Shale giant Comstock Resources Inc. “went back to work” in the third quarter to try to cash in on expected higher natural gas prices by accelerating seven well completions and by adding two horizontal drilling rigs, CEO Jay Allison said Thursday. “We have advantaged access to the demand market of the Gulf Coast,” Allison…

November 9, 2020
Permian Activity Declines as U.S. Rig Count Down Two

Permian Activity Declines as U.S. Rig Count Down Two

Driven by declines in the Permian Basin, the U.S. rig count fell two units overall to drop to 263 for the short holiday week ending Thursday (July 2), according to the latest numbers from Baker Hughes Co. (BKR). Changes for the week included a three-rig decline in oil-directed drilling, partially offset by the addition of…

July 2, 2020
Prominent Role for Natural Gas, Oil Exploration Even in Carbon-Constrained World, Says Wood Mackenzie

Prominent Role for Natural Gas, Oil Exploration Even in Carbon-Constrained World, Says Wood Mackenzie

Oil and natural gas exploration will play an essential role in meeting global energy demand through at least 2040, even if human-induced global warming is kept under 2 C, according to a recent analysis by Wood Mackenzie. “Only about half the supply needed to 2040 is guaranteed from fields already onstream,” said Wood Mackenzie’s Andrew…

July 2, 2020
Oil, Natural Gas Exploration Said Vital to Meeting Energy Demand to 2040, Even if Global Warming Kept Under 2 C

Oil, Natural Gas Exploration Said Vital to Meeting Energy Demand to 2040, Even if Global Warming Kept Under 2 C

Oil and natural gas exploration will play an essential role in meeting global energy demand through at least 2040, even if human-induced global warming is kept under 2 C, according to a new analysis by Wood Mackenzie. “Only about half the supply needed to 2040 is guaranteed from fields already onstream,” said Wood Mackenzie’s Andrew…

July 1, 2020
Mexico Regulator Gives Green Light to Deepwater, Burgos Exploration Projects

Mexico Regulator Gives Green Light to Deepwater, Burgos Exploration Projects

Mexico’s upstream oil and gas regulator, Comisión Nacional de Hidrocarburos (CNH), last Thursday approved drilling the Xakpún-1EXP deepwater exploration well by a subsidiary of China National Offshore Oil Corp., aka CNOOC. The J-shaped well plans to target light oil resources in the Gulf of Mexico’s Wilcox formation to a  total depth of 6,346 meters (20,820…

June 23, 2020
ExxonMobil Tallies 16th Oil, Gas Discovery Offshore Guyana

ExxonMobil Tallies 16th Oil, Gas Discovery Offshore Guyana

ExxonMobil, which rode the wave for worldwide exploration last year in part because of the prolific Guyana portfolio, announced another discovery offshore the South American country, where recoverable resources already were estimated at more than 8 billion boe.

January 28, 2020
ExxonMobil Tallies 16th Oil, Gas Discovery Offshore Guyana

ExxonMobil Tallies 16th Oil, Gas Discovery Offshore Guyana

ExxonMobil, which rode the wave for worldwide exploration last year in part because of the prolific Guyana portfolio, announced another discovery offshore the South American country, where recoverable resources already were estimated at more than 8 billion boe.

January 28, 2020
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