E&P

Norway Oil Ministry Approves Hiked Gas Output at Several Offshore Fields

Norway's oil ministry on Monday said it had approved adjusted production permits for six offshore fields but that would not change the expected amount of gas Norway would export in 2022.

Pennsylvania’s Gas Drilling Impact Fee Distribution Rises by $100 Million

The Pennsylvania Public Utility Commission (PUC), which has been collecting fees from gas wells and distributing them to local governments, said it has collected and distributed over $2.2 billion to Pennsylvania communities.

EIA Expects Nine New Gulf of Mexico Natural Gas, Crude Oil Fields to Start in 2022

The U.S. Energy Information Administration forecasts that new fields coming online in 2022 will account for 5% of natural gas production and 14% of crude oil production in the U.S. Federal Offshore Gulf of Mexico by the end of 2023.

TotalEnergies Wins Stake in Qatar's LNG Expansion Project

TotalEnergies has signed a partnership deal with QatarEnergy for the North Field East LNG expansion project, which will include six LNG trains that will ramp up Qatar’s liquefaction capacity from 77 MTPA to 126 MTPA by 2027.

Dutch Government Reluctant to Boost Production from Groningen Gas Field

Tapping the Groningen gas field, which is being wound down due to a series of earthquakes, should be a "last resort", a Dutch minister said on Tuesday, after a government advisory body suggested using the field to help fill gas stores.

Sources: EIG In Talks to Acquire Portion of Repsol’s Oil, Gas Business

E&P

EIG Global Energy Partners is in early discussions with Repsol to buy a slice of the Spanish company's oil and gas exploration and production business, three sources with knowledge of the matter told Reuters.

Closely Watched Exploration Well Off Western Australia Finds No Gas, Oil

Western Gas said on Monday its Sasanof-1 exploration well off Western Australia found no hydrocarbons, in a big disappointment for one of the most closely watched drilling campaigns in Australia this year.

Israel Rejects Lebanese Accusation About Gas Field, Says Conflict Unlikely

Israel has denied a Lebanese allegation it is encroaching on a disputed Mediterranean natural gas field, playing down on Monday any prospect of conflict over the dispute.

Philippine Tycoon Razon to Buy Majority of South China Sea Gas Field

Philippines ports and gaming tycoon Enrique Razon is acquiring a majority stake in a South China Sea gas field from a close ally of outgoing President Rodrigo Duterte, a move seen benefitting his oil exploration franchise on the Reed Bank.

Oil Turns Negative as OPEC Eyes Russia Suspension from Output Deal

Oil / E&P

Oil prices turned negative on Tuesday after a report that some producers were exploring the idea of suspending Russia's participation in the OPEC+ production deal.

US Gas Drilling Rig Count Highest Since 2019

The total number of rigs drilling for gas has climbed to 150, the highest since late 2019, and up from just 100 this time a year ago, according to field services company Baker Hughes.

Argentina Easing Energy Firms' FX Access to Spur Vaca Muerta Development

Argentina is easing access to foreign currency for oil and gas companies that increase production in the South American country, part of a bid to accelerate the development of the huge Vaca Muerta shale formation and trim reliance on costly imports.

Israel Ramping Up Gas Output, Looks to Help Supply Europe

Israel is boosting offshore natural gas output and aims to reach a supply agreement with Europe in the coming months as the continent looks to replace Russian supply.

New Prospects Emerge in Guyana-Suriname Basin

In 2000, the federal government’s U.S. Geological Survey, based in Washington, D.C., identified the Guyana-Suriname Basin as having the second highest resource potential among unexplored oil and gas basins in the world.

Study Finds Flowmeter Market Rebounding After Pandemic

E&P

The flowmeter market is now strong and trending upward as the economy regains its footing and rising oil and gas prices drive exploration and production, according to a new study by Flow Research Inc.

US Overturns Trump-era Policies for Arctic Alaska Oil Reserve

The Biden administration on Monday overturned a controversial Trump-era policy that would have opened new swathes of Arctic Alaska to oil development.

Denmark to Boost North Sea Gas Production to Quit Russian Supply

Denmark's government on Tuesday said it aimed to temporarily increase production of natural gas from its fields in the North Sea, in a move to rapidly become independent of Russian supplies.

With Leases a Key, Can the Bullishness Return?

At the November 2021 United Nations Climate Change Conference of the Parties (COP26) in Scotland, President Joe Biden urged all the world’s largest nations to step up to the climate change challenges in this decade with “action and solidarity.”

US To Resume Oil, Gas Drilling on Public Land Despite Biden Campaign Pledge

The plan calls for the government to lease fewer acres for drilling than initially proposed, charge steeper royalties to oil and gas companies, and assess the climate impact of developing the acreage.

Chevron's TCO Partially Restored Output on Its Tengiz Oilfield in Kazakhstan

Chevron-led Tengizchevroil partially restored oil output on its giant Tengiz oilfield in Kazakhstan on Monday after a sharp fall following the damages on Caspian Pipeline Consortium (CPC) Black Sea terminal back in March.

Shell Releases New Plan for North Sea Gas Field Development

In the new environmental development plan of the Jackdaw field, Shell said that it aims to start production from the field, which will supply 6.5% of Britain's gas output, by Q3 or Q4 2025.

Fossil Fuel Production to Reach New Highs in 2023

After declining in 2020, the combined production of U.S. fossil fuels (including natural gas, crude oil, and coal) increased by 2% in 2021 to 77.14 quadrillion Btu.

TotalEnergies Could Lose S.Africa License If No Output Plan by Sept

TotalEnergies could see its license to develop a major offshore South African gas find scrapped if it does not submit a production plan by September.

Exxon to Exit Russia, Leaving $4 Billion in Assets

The decision will see Exxon pull out of managing large oil and gas production facilities in Russia's Far East and puts the fate of a proposed multibillion-dollar LNG facility there in doubt.

UAE's Dragon Makes Oil Discovery in Gulf of Suez

United Arab Emirates-based Dragon Oil has made its first oil discovery in the Gulf of Suez, the Egyptian petroleum ministry said Tuesday.

Guyana May Develop Offshore Oil Prospects on Its Own

Guyana could form a national oil and gas company to oversee its own exploration instead of conducting an offshore drilling auction this year, a government official told international oil executives on Tuesday.

Permian Oil Output Forecast to Hit Record High in March

Oil output in the Permian Basin will rise 71,000 bpd to a record 5.205 MMbpd in March, the U.S. Energy Information Administration said in its productivity report on Monday.

New York Pension Fund to Divest Half its Shale Companies

New York's state pension fund will sell $238 million worth of stock and debt it holds across 21 shale oil and gas companies including Chesapeake Energy Corp, Hess Corp and Pioneer Natural Resources, saying they have not shown they are ready to move to a low-emissions economy.

Canada's Oil M&A Flurry Seen Giving Buyers Upper Hand in Dealmaking

A rally in oil prices to over seven-year highs is leading to a flurry of asset sales in Canada as energy companies cash out of low-margin assets, but the rush of deals could turn it into a buyer's market, bankers and company executives said.

Oil Company Directors Decline to Testify in U.S. House Climate Panel

Board members of four major oil companies declined to appear at a U.S. House oversight panel hearing scheduled for Feb. 8 to answer questions about their companies' climate change plans, the committee said on Thursday.