Former Tullow Oil CEO Paul McDade is leading a new company, Afentra, aimed at rejuvenating mature West Africa oil fields.
Here’s a roundup of the latest E&P headlines, including a field start up and a well drilled to a basin with record depth from the past week in the upstream oil and gas industry.
A transaction with Munich Re Reserve Risk Financing provides W&T Offshore with the dry powder needed to continue to accretively grow through “attractive producing property acquisitions,” CEO Tracy Krohn says.
United Arab Emirates' Energy Minister Suhail al-Mazrouei said on Nov. 23 the latest oil discoveries are part of state-owned Abu Dhabi National Oil Co.'s efforts to increase production capacity to 5 million barrels per day (MMbbl/d) by 2030.
The approach leverages sound waves to give operators eyes inside their wellbores.
Oil firms Equinor and Rosneft expect to extract some 250 million barrels of oil and 23 billion cubic meters of gas during the first part of the development of the Severo-Komsomolskoye oilfield in Russia, Equinor said on Dec. 23.
Recent IHS Markit report says a significant rebound in discoveries may not happen because since 2014 there has been an increased emphasis on exploring less risky maturing basins and short cycle-time unconventional projects.