Arctic

Exploration & Production , Policy & Regulations

Trump Administration Opens Sensitive Arctic Areas to Oil Development

The plan, contained in a final environmental impact statement, opens 18.7 million acres of the 23 million-acre reserve to development.

June 26, 2020

Exploration & Production , Lease Sales

Norway Plans Big Expansion of Arctic Oil Exploration

The government will auction up to 136 new oil exploration blocks in a major licensing round, with 125 of those in the Arctic Barents Sea, a relatively unspoiled corner of the planet.

June 24, 2020

Technology

Baker Hughes Reaches Key Performance Milestone for Novatek’s Arctic LNG 2 Project

Baker Hughes revealed the completion of the First Engine to Test (FETT) for the LM9000 aeroderivative gas turbine on June 9. The test took place at the company’s advanced turbomachinery testing facilities in Florence and Massa, Italy.

June 10, 2020

Exploration & Production

Repsol Pulls Out of Planned Arctic JV in Russia

A deal on the venture, in which Gazprom Neft would hold a 50% stake and Repsol and Shell each own 25%, was expected to close this year.

May 26, 2020

Acquisitions & Divestitures , Trends

Energy A&D Transactions from the Week of April 29, 2020

Here’s a snapshot of recent energy deals including closing renegotiation of BP’s $5.6 billion Alaska sale to Hilcorp Energy and a $575 million acquisition by Total.

April 29, 2020

Highlights , Shale Plays

Best of This Week’s Drilling Activity Highlights (April 24, 2020)

Results from an EOG Resources multiwell Permian Basin prospect in Reeves County, Texas, and a new North Slope wildcat in Alaska top this week’s drilling activity highlights from around the world.

April 24, 2020

Exploration & Production , Lease Sales

Norway Aims For New Oil Licensing Round After Arctic Plan Approval

The government proposed earlier April 24 an updated plan setting a new so-called ice edge, setting new limits for oil exploration in its Arctic waters.

April 24, 2020

Field Development

Shell Ditches Russian Arctic Oil Joint Project

Total resources at fields of Meretoyakha Neftegaz were valued by Gazprom Neft at 1.1 billion tonnes (over 8 billion barrels of oil).

April 14, 2020

Highlights , Shale Plays

Best Of This Week’s Drilling Activity Highlights (March 20, 2020)

Results from two exploratory tests in the Powder River Basin and the first horizontal completion reported in a Central Basin Platform field top this week’s drilling activity highlights from around the world.

March 20, 2020

Investment , Exploration & Production , Health, Safety & Environment

Wall St. Backs Away From Arctic Drilling Amid Alaska Political Heat

Three banks say they will not finance drilling, even as Trump administration lowers barriers.  

March 3, 2020