Tullow Oil's Orinduik Block offshore Guyana could hold 5,1 billion barrels of oil equivalent in Gross Prospective Resources, best estimate, according to Gustavson Associates, an independent third-party auditor.This is more than a billion-barrel…
Sweden's Lundin Petroleum, a partner in Norway's giant Sverdrup oilfield, raised its dividend payment and output expectations on Friday after beating fourth-quarter profit forecasts.Earnings before interest, tax, depreciation, and amortization (EBITDA) rose to $695…
Bahamas Petroleum expects to start drilling at its first exploration well offshore The Bahamas in April 2020. The company said Thursday that the well, named Perseverance 1, would be drilled in April, with results expected in the second quarter of 2020…
Oil and gas company Neptune Energy plans to speed up the process of making a discovery, cut exploration costs, and bring the oil finds online faster using a new digital subsurface program that will Neptune said the program's aim is to discover hydrocarbons 70% faster…
Kosmos Energy has completed drilling the Oldfield exploration well in the U.S. Gulf of Mexico, and the well failed to find oil.Oldfield was designed to test a sub-salt Miocene prospect located in Mississippi Canyon, targeting approximately 10 mmboe net to Kosmos which owns 40 percent in the block…
The Central American and Caribbean specialist exploration company CaribX said that it is increasing its share of the Main Cape Operating contract in Honduras.Following government approval CaribX will hold a 55% interest in the highly prospective licence area…
Byron Energy is set to begin drilling at its SM71 F4 well in the Gulf of Mexico, following a recent delay caused by bad weather.Byron said Tuesday that the Enterprise Offshore Drilling 264 jack-up rig arrived on location to drill the SM71 F4 well from Byron's F Platform…
Egypt has signed two deals with Exxon Mobil Corp for oil and gas exploration in the Mediterranean, the petroleum ministry said on Tuesday. The deals involve a minimum investment of $332 million, the ministry said in a statement. Exxon Mobil announced the acquisition of more than 1…
Karoon Energy has started drilling at its 256 million barrel prospect Marina-1 offshore Peru using the Stena Forth drillship.Karoon said Monday that the drilling operation at the Block Z‐38 in Peru's Tumbes Basin would take 30 days. Tullow, Karoon's partner in the project…
ExxonMobil has struck another oil discovery offshore Guyana and has raised its estimate for recoverable resource base in Guyana to more than 8 billion barrels of oil equivalent. This is a 2 billion barrel increase compared to the previous estimate…
ION Geophysical Corporation, a provider of geoscience technology, services, and solutions for the oil and gas industry, has entered into a multi-client agreement with Colombia’s National Hydrocarbon Agency (ANH), granting rights to reprocess…
Europa Oil & Gas will have to start looking for another farm-in partner to help it drill its Inishkea offshore prospect in Ireland after an oil major has pulled out from farm-in talks.Europa has been in talks for over a year to farm-out a portion…
Nigerian oil company Lekoil has been given more time to find funds it needs to contribute for the drilling operation at the OPL 310 block in Nigeria, following a recent funding fiasco with unnamed scammers.Lekoil was required to pay Optimum Petroleum…
Russian oil giant Lukoil plans to sign an agreement with Azerbaijan's state energy company SOCAR for two offshore blocks in Azerbaijan, the Interfax news agency reported on Wednesday. CEO Vagit Alekperov told reporters in Davos that the two firms are discussing a number of projects…
BP signed an agreement with Angola aimed at acquiring oil further exploration rights, state news agency Angop reported, the latest in a flurry of agreements between oil majors and Africa's second-biggest exporter.The deal with the country's…
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