“Results from a University of Texas study on commingling show that commingled production maximizes per-well oil production compared to sequential schemes. Over 30 years, it provides 61% more oil recovery, and over 50 years, it yields 21% more,” the Interior said in a news release.
After decades of developing its renewable energy capacity, Uruguay is now looking to explore for oil and gas, having made no successful discoveries in the past. New hopes of offshore reserves have encouraged the government to welcome foreign oil majors into its waters to explore for crude, despite the potentially harmful environmental implications of these activities.
The slew of executive orders (EOs) signed by Trump included the repeal of 78 Biden-era executive actions and the withdrawal of the U.S. from the Paris Climate Treaty — the latter also done under Trump’s first presidential term.
Offshore drilling giant Noble Corporation has completed the acquisition of US offshore rig owner Diamond Drilling, after getting the final permit earlier this week. Noble said that the transaction, valued at around $2.1bn, enhances its position as a leading offshore driller, creating the largest fleet of 7th-generation dual-BOP drillships in the industry. Through this acquisition, Noble will increase […]
Oil and gas companies and environmental groups on Monday filed dueling legal challenges to the Biden administration’s five-year plan to offer drilling leases in the Gulf of Mexico.
It looks like the offshore oil and gas drilling market is in the early innings of an upcycle in investment and activity