Exploration well 35/11-31 S in production licence 090 encountered petroleum in two reservoirs, one containing oil and gas and the other gas only. Estimated resources range from 0.1 million to 1.1 million standard cubic metres.
Crescent Energy Company and Vital Energy Inc announced, in a joint statement Monday, that they have entered into a definitive agreement, “pursuant to which Crescent will acquire Vital in an all-stock transaction valued at approximately $3.1 billion, inclusive of Vital’s net debt”.
OKEA ASA has announced oil discoveries made in the Cook and Statfjord formations of Norway’s Brage Field. The discoveries are considered commercial with preliminary estimates of gross recoverable resources in the range of 16 to 33 million barrels of oil equivalent (MMboe) combined.
Ace Well Technology, in collaboration with Expro and Archer, has successfully completed the first well deployment of the Ace Control Line Clamp (ACLC) using Expro’s Remote Clamp Installation System (RCIS) on the Norwegian Continental Shelf (NCS). This marks a significant milestone in the drive toward safer and more efficient well completion operations, by fully removing personnel from the red zone.
The Seadrill-owned West Gemini received a 284-day contract with Sonangol Exploração & Produção, beginning in late 2025 or early 2026. The Sonangol Libongos, owned by Sonangol, secured a 525-day contract with Azule Energy Angola, scheduled to begin in the third quarter of 2025 with priced options for extension.
In a notably quiet week, holiday-thinned liquidity kept ICE Brent range-bound at $65.80–$67.90/bbl despite a steep U.S. stock selloff.
The total number of active drilling rigs for oil and gas in the United States fell this week, according to new data that Baker Hughes published on Friday.
Earlier this week, China’s Sinopec reported a plunge in its first-half profit, citing subdued fuel demand as a reason. According to Kpler, sluggish fuel demand is a global trend, and it is set to extend into next year as well.
The initial order includes around 1,000 G6 single-gas detectors and 1,200 Blackline Location Beacons, supported by four years of service. The deal was won through UAE channel partner Al Masaood.
The acquisition consolidates two leading SAGD oil sands producers with combined production exceeding 720,000 barrels per day and complementary assets in Christina Lake, Alberta.