Poland's dominant gas firm PGNiG and No.1 refiner PKN Orlen have joined forces in the search for gas and oil deposits in the mountains of southeastern Poland, PKN said in a statement on July 20.
Orlen Upstream has signed a deal with PGNiG under which both firms are to conduct research on eight exploration licences near the Bieszczady mountains. Both firms have already worked together in parts of Poland.
Poland is trying to reduce its reliance on imported energy from Russia, but still more than a half of the gas it consumes is imported from its former imperial master. The dependency is even bigger in terms of oil.
Poland had expected to find huge shale gas deposits but these hopes have faded and major energy firms including Chevron , and Total have pulled out of shale gas exploration concessions.
ConocoPhillips continues to find ways to improve through the use of refracs, simul-fracs and other technologies, says Jack Harper, former Concho exec now leading Conoco’s Permian Basin team.
Oasis Petroleum will “immediately begin an active and thorough search for a new CEO,” says Douglas E. Brooks, the company’s board chair who has been appointed to the additional role of CEO effective Dec. 22.
Oasis Petroleum intends to offer $400 million senior unsecured notes due 2026 in a private placement to eligible purchasers with proceeds earmarked to partially fund its Bakken acquisition from Diamondback Energy.