State oil company Saudi Aramco has discovered two new oil and gas fields in the northern regions, the kingdom's energy minister said Aug. 30, state news agency SPA reported.
The energy minister Prince Abdulaziz bin Salman Al-Saud said the new Abraq al-Toloul oil field, which lies to the south east of the northern city of Arar, flows with a daily rate of 3,189 bbl/d of Arab light crude oil, along with 3.5 MMcf of natural gas.
Hadabat al Hajara gas field in al-Jof region has a daily production rate of 16 MMcf of natural gas, along with 1,944 bbl/d of oil condensate, according to the minister.
Aramco will carry on with its efforts to estimate the total amount of oil and gas in the two fields and is drilling more wells to determine their areas and capacities, he added.
Recommended Reading
Gulfport Energy to Offer $500MM Senior Notes Due 2029
2024-09-03 - Gulfport Energy Corp. also commenced a tender offer to purchase for cash its 8.0% senior notes due 2026.
ONEOK Offers $7B in Notes to Fund EnLink, Medallion Midstream Deals
2024-09-11 - ONEOK intends to use the proceeds to fund its previously announced acquisition of Global Infrastructure Partners’ interest in midstream companies EnLink and Medallion.
Kosmos to Repay Debt with $500MM Senior Notes Offer
2024-09-11 - Kosmos Energy’s offering will be used to fund a portion of its 7.125% senior notes due 2026, 7.750% senior notes due 2027 and 7.500% senior notes due 2028.
Upstream, Midstream Dividends Declared in the Week of July 8, 2024
2024-07-11 - Here is a selection of upstream and midstream dividends declared in the week of July 8.
Solaris Stock Jumps 40% On $200MM Acquisition of Distributed Power Provider
2024-07-11 - With the acquisition of distributed power provider Mobile Energy Rentals, oilfield services player Solaris sees opportunity to grow in industries outside of the oil patch—data centers, in particular.