Brazilian state-run oil firm Petrobras has begun the non-binding phase for the sale of its Polo Reconcavo onshore oil and gas cluster in the northeastern state of Bahia, the company said on July 3.
During this phase of the process, interested parties are to make non-binding offers for the cluster, which is composed of 14 oil fields.
Polo Reconcavo had an average production of 2,800 barrels per day of oil and 588,000 cubic meters of gas in 2018, the company said.
The U.S. oil and gas rig count fell by five to an all-time low of 258 in the week to July 10, according to data from energy services firm Baker Hughes Co.
API recently released the fifth edition of Specification 4F, a manufacturing standard that applies to both onshore and offshore well structures to ensure operational safety and sustainability.
ConocoPhillips reports extended-reach horizontal Niobrara Shale producers in Colorado’s D-J Basin plus Wolfbone Field-Bone Spring wells completed by Occidental Petroleum in Reeves County, Texas, top this week’s drilling activity highlights from around the world.