China National Offshore Oil Corp. (CNOOC)
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E&P Highlights: June 16, 2025
Here’s a roundup of the latest E&P headlines, including the third major transaction this month for Baker Hughes and an explorer award for Exxon Mobil.
Reports: Mitsubishi Targeting Haynesville E&P Aethon in $8B Deal
Japan’s Mitsubishi is reportedly in talks to acquire Aethon Energy’s Haynesville assets in a deal that could be worth $8 billion.
After 25 Years, E&Ps Sustain Bakken Oil’s Long Plateau
The first stimulated horizontal middle Bakken well came online 25 years ago, proving horizontal drilling and fracking could unlock vast oil reserves. What began as a modest experiment in a remote Montana field reshaped the future of U.S. oil production.
Exxon-Led Consortium's 2024 Profit in Guyana Rose 64% to $10.4B
The profit of a consortium by oil producers Exxon Mobil, Hess and CNOOC in Guyana increased 64% last year to $10.4 billion, Exxon said on June 3, amid facility updates that allowed a sustained expansion of output.
E&P Highlights: May 27, 2025
Here’s a roundup of the latest E&P headlines, including new production offshore Brazil and new mapping for three U.S. basins.
INEOS, Covestro Sign Multiyear LNG Supply Deal
London’s INEOS and Germany’s Covestro say they aim to solidify supplies in a volatile market.
FTC May Reconsider Hess, Sheffield Bans on Holding Board Seats
The Federal Trade Commission has announced it is seeking comment on potentially rescinding bans on Pioneer Natural Resources’ Scott Sheffield and Hess Corp.’s John Hess from serving on the boards of companies that acquired their E&Ps.
INEOS Buys CNOOC’s Gulf Assets, Bringing US Deals Total to $3B
INEOS Energy closed an acquisition of U.S. Gulf assets held by a CNOOC subsidiary. Combined with a previous LNG agreement and acquisition of Eagle Ford Shale assets, the British company has spent $3 billion in the U.S.
CNOOC Starts Production at Two Offshore Projects
The Caofeidian 6-4 Oilfield and Wenchang 19-1 Oilfield Phase II projects by CNOOC Ltd. are expected to produce more than 20,000 bbl/d of crude combined.
Chevron Buys 15.4MM Shares of Hess Stock on Open Market
Chevron Corp. reported that between January and March 2025 it purchased about 5% of Hess Corp. shares, according to a Securities and Exchange Commission filing.
CNOOC Makes Oil, Gas Discovery in Beibu Gulf Basin
CNOOC Ltd. said test results showed the well produces 13.2 MMcf/d and 800 bbl/d.
E&P Highlights: Feb. 24, 2025
Here’s a roundup of the latest E&P headlines, from a sale of assets in the Gulf of Mexico to new production in the Bohai Sea.
E&P Highlights: Feb. 18, 2025
Here’s a roundup of the latest E&P headlines, from new activity in the Búzios field offshore Brazil to new production in the Mediterranean.
Exxon Seeks Permit for its Eighth Oil, Gas Project in Guyana as Output Rises
A consortium led by Exxon Mobil has requested environmental permits from Guyana for its eighth project, the first that will generate gas not linked to oil production.
E&P Highlights: Dec. 16, 2024
Here’s a roundup of the latest E&P headlines, including a pair of contracts awarded offshore Brazil, development progress in the Tishomingo Field in Oklahoma and a partnership that will deploy advanced electric simul-frac fleets across the Permian Basin.