Operators in February announced several huge oil and gas discoveries, according to a recent report by Stratas Advisors.
Of the new discoveries, eight were in the following six countries: Indonesia, South Africa, Guyana, Mexico, Cyprus and Norway. Total combined resource of the new discoveries could be over 13 trillion cubic feet of natural gas and 1 billion barrels of oil, or 3 billion barrels of oil equivalent. Additionally, many existing projects posted new progress including boosted reserves, announcements of conceptual, FEED, final investment decision (FID), engineering, procurement, and construction (EPC), first production, and A&D.
Development projects on the Stratas’ radar by region include:
- the SNE, West Nile Delta-Giza/Fayoum/Raven and Assa North/Ohaji South Fields (ANOH) projects in Africa;
- the Q10, Ana and Doina, and Seagull projects in Europe;
- the Constellation and Leon projects in the Gulf of Mexico;
- the Buzio phase 3, Buzio phase 4, and Angelin projects in Latin America; and
- the Mako, Crux and Rossukon projects in Asia Pacific.
Meanwhile, more than 16 major companies are involved in A&D agreements this month. Total deals could amount up to $500 million in a combined value.
The rest of this report is available to subscribers of Global Upstream Project Analytics Service. Not a subscriber? Create an account.
Recommended Reading
SLB’s ChampionX Acquisition Key to Production Recovery Market
2024-04-19 - During a quarterly earnings call, SLB CEO Olivier Le Peuch highlighted the production recovery market as a key part of the company’s growth strategy.
PHX Minerals’ Borrowing Base Reaffirmed
2024-04-19 - PHX Minerals said the company’s credit facility was extended through Sept. 1, 2028.
BP Restructures, Reduces Executive Team to 10
2024-04-18 - BP said the organizational changes will reduce duplication and reporting line complexity.
Matador Resources Announces Quarterly Cash Dividend
2024-04-18 - Matador Resources’ dividend is payable on June 7 to shareholders of record by May 17.
EQT Declares Quarterly Dividend
2024-04-18 - EQT Corp.’s dividend is payable June 1 to shareholders of record by May 8.