CNOOC Ltd. on March 15 said that it has started production at its Caofeidian 6-4 oil field in the Bohai Sea off northern China.
The project is expected to reach peak production of about 15,000 barrels of crude oil per day in 2023, according to the company statement.
Based on the existing processing facilities of Nanpu 35-2 oil field and Qinhuangdao 32-6 oil field, the project plans a total of 42 development wells.
CNOOC Ltd. holds full interest in the Caofeidian 6-4 oil field and acts as the operator.
2023-10-10 - Exxon Mobil scooping up Permian Basin giant Pioneer Natural Resources in a $60 billion deal could spur other megadeals across the U.S. oil patch, experts say.
2023-11-03 - Antero Resources’ management is hopeful the industry’s reduction in rig activity will help “balance” the natural gas market.
2023-09-26 - Anadarko Basin E&P Mach Resources is planning an initial public offering, according to preliminary regulatory filings.
2023-10-26 - Stressing its efficient use of resources, Range Resources management cited statistics from FactSet showing that in 2023 the company’s capex averaged $0.76 per Mcfe.
2023-11-13 - Patterson-UTI CEO Andy Hendricks is optimistic about rig recovery in 2024, and he says frac fundamentals remain strong.