The American Petroleum Institute (API) estimated that crude oil inventories in the United States rose by 6.556 million barrels in the week ending March 13—a surprise build of significant magnitude. In the week prior, US crude oil inventories shed 1.7 million barrels. Analysts had expected a draw of 600,000 barrels in the current reporting period.
The U.S. Department of the Interior has initiated a fast-tracked environmental review of a proposed offshore well stimulation program at Platform Gilda, located about 8.8 miles offshore Ventura County, California.
SLB’s OneSubsea joint venture has been awarded an integrated engineering, procurement and construction (EPC) contract by CNOOC for the Kaiping 18-1 deepwater field in the South China Sea.
Monumental Energy Corp said Monday commercial production has resumed at the Waihapa H1 well in the Taranaki basin onshore New Zealand.
Venture Global Inc has made a final investment decision (FID) to proceed with the second phase of the CP2 LNG project in Cameron Parish, Louisiana, whose phase 1 is still under construction.
Buccaneer Energy has acquired a 100% working interest in the Carlisle-1 well in the Pine Mills field, East Texas, strengthening its position in the Fouke area and increasing near-term production and cash flow.
IOG Resources III has closed a $125-million joint development partnership to fund an 18-well horizontal drilling program targeting the Niobrara formation in Wyoming’s Powder River basin.
Petrobras has exercised its preemptive right to acquire Petronas’ 50% stake in the Tartaruga Verde field and the Espadarte Module III development in Brazil’s Campos basin, a move that will restore the company’s full ownership of the assets.
bp has started gas production from the Quiluma field offshore Angola as part of the New Gas Consortium (NGC), marking the country’s first non-associated gas development.
Seadrill and Sonangol’s Sonadrill joint venture has secured a contract extension for the Sonangol Quenguela drillship in Angola, Seadrill said on Monday.