The three sales were the last to be held under a 5-year plan for leasing in federal waters on the outer continental shelf. That plan expires in June, and the Biden administration has not finalized a new program.
Occidental Petroleum will resume its share repurchase program this quarter after reaching its $20 billion net debt target, CFO Robert Peterson also said during the call.
During a March meeting, U.S. officials asked Petrobras if the company had the capacity to increase short-term production, according to U.S. government and Petrobras sources, who requested anonymity to discuss private talks.
Datagration’s vice chairman Ike Epley shared how the company’s software platform boosts efficiency, safety and revenue through unified data solutions.
“The agreement includes a cash consideration of $1 billion and a contingent payment structure linked to realized oil and gas prices for both assets for 2022 and 2023,” Equinor said in a statement.
The joint venture is expected to be the next consortium in moving oil exploration projects in Guyana to the development phase if discoveries are declared commercial.
Through a non-binding MOU, W&T Offshore and KNOC will explore potential joint ventures in upstream oil and gas as well as opportunities related to energy transition and the reduction of global carbon emissions.
In an industry keen to maximize efficiency, shale service providers continue to explore durable and reliable solutions that extend pump hours and add tangible value to their operations and those of their clients.
In addition, PDC Energy said May 6 it paid off the Great Western Petroleum secured credit facility totaling $235 million and $312 million in principal amount of Great Western’s 12% senior secured notes due 2025.
Known as Eldfisk North, the development is part of the wider Ekofisk area in the Norwegian North Sea, where ConocoPhillips has pumped hydrocarbons for more than 50 years. The U.S. operator said the new reserves are expected to come onstream in 2024.