Darren
Barbee
Oil and Gas Investor
Continental Resources Sees Homecoming in Powder River Basin Acquisition
Continental Resources’ acquisition of Powder River Basin assets in Wyoming is a homecoming of sorts for the company, says Founder and Executive Chairman Harold Hamm.
E&P Plus Regional Report: Bakken—A Year of Challenges
According to Lynn Helms, North Dakota’s director of mineral resources, last year was a “pretty terrible year for the industry” and oil and gas producers in 2021 will be stressed from both ends—investor and market demands.
Yergin: US Shale Will Grow under Biden’s Rule
“There are a lot of economic advantages from shale production and some foreign policy advantages,” says IHS Markit Vice-Chairman and energy guru Daniel Yergin. “And Joe Biden is a foreign policy person.”
E&P Deep Dive: Dead DUCs?
RED President Steve Hendrickson discusses reasons for “dead” DUCs, including why some of the drilled but uncompleted oil and gas wells may never actually be completed.
The Latest
Field Development
Petrobras to Hire FPSO Platform from SBM Offshore for Búzios Field
Brazilian oil company Petrobras said it signed a letter of intent on Feb. 24 with Holland’s SBM Offshore to hire a FPSO for the Búzios field in the Santos Basin pre-salt.
February 25, 2021
Field Development
Lamprell Lands Aramco Contract for Giant Offshore Oil Field
Lamprell has been awarded an engineering, procurement, construction and installation (EPCI) contract on Feb. 24 by Saudi Aramco as part of their long-term agreement program (LTA) with Lamprell.
February 25, 2021
Exploration & Production
Exxon Mobil’s Total Reserves Fall after COVID-19 Oil Price Drop
Total reserves for all products fell to 15.2 billion barrels at the end of 2020.
February 25, 2021
Earnings
Apache Posts Lower Fourth-quarter Loss as Oil Prices Recover
U.S. oil producer Apache raised its project spending forecast to $1.1 billion for this year as oil prices have improved since its previous outlook of keeping upstream expenses below a billion dollars.
February 25, 2021
Exploration & Production
US Crude Oil Production Drops in Largest Weekly Fall Ever: EIA
Overall U.S. crude oil output fell by 1.1 million bbl/d to 9.7 million bbl/d in the week to Feb. 19, the EIA said, as Texas’ deep freeze forced most of the state’s operators and refiners to shut as components and pipelines froze.
February 24, 2021
Public Capital
Pioneer Says Output Dip Won’t Derail Variable Dividend Plans
Most Pioneer Natural Resources production in the Permian Basin is back online and storm damage repairs are “minor in the grand scheme of things,” CFO Neal Shah said.
February 24, 2021
Business
Exxon Mobil Sells UK North Sea Assets in Deal Worth over $1 Billion
The sale of U.K. North Sea upstream assets on Feb. 24 helps the U.S. oil major free up capital for projects elsewhere, says Exxon Mobil Vice President Neil Chapman.
February 24, 2021
Exploration & Production
Petrobras Gets Single Offer from SBM for Mero 4 Oil Platform
Petrobras’ business plan foresees Mero 4 entering operation in 2025 with a capacity to produce 180,000 barrels of oil a day.
February 24, 2021
Discoveries
Malaysia’s Petronas Discovers Oil at Indonesia’s Hidayah-1 Exploration Well
The well tested at about 2,100 barrels of oil per day with good crude quality, Petronas said in a statement.
February 24, 2021
Exploration & Production
Black Sea Oil & Gas to Begin Romania Offshore Gas Extraction in November
Critics warn Romania’s window to tap its offshore reserves—which could diversify gas supplies in the region and help Romania phase out coal in line with EU targets—is narrowing.
February 24, 2021