Oil slipped as economic data from China reinforced concerns about weakening demand in the world’s biggest crude importer.
Serica Energy plc has secured a 50 percent working interest in licenses P2400 (Skerryvore) and P2634 (Fynn Beauly) in the North Sea, after acquiring Parkmead (E&P) Limited (PUK) from Parkmead Group Plc (Parkmead).
Northern Oil and Gas announced that it has entered a Joint Development Program with one of Appalachia’s most capital efficient operators. The program, which covers drilling activities in calendar year 2025, requires a capital commitment from NOG expected not to exceed $160 million for a 15% working interest.
Venture Global announced it has reached first liquified natural gas (LNG) production at the company’s second facility, Plaquemines LNG, in Port Sulphur, Louisiana.
Under the terms of the agreement, Lucero shareholders will receive 0.01239 of a share of Vitesse common stock for each common share of Lucero. The addition of Lucero’s operations will enable Vitesse to expand its assets across the Bakken shale region, where Lucero had approximately 6.4 Mboe per day of two-stream net production during the third quarter of 2024.
QatarEnergy has announced an agreement to acquire from Chevron Corp. a 27.5 percent stake in Block 2813B offshore Namibia in the Orange Basin.
Shell Nigeria Exploration and Production Co. Ltd. (SNEPCo) has reached a final investment decision (FID) on the Bonga North development. The company said in a media release this deepwater project off the coast of Nigeria will be a subsea tie-back to the Shell-operated Bonga floating storage and offloading (FPSO) facility.
The technology will provide flow rates and identify flow patterns, generating online and real-time data availability for control and monitoring of slug instabilities to increase efficiency and optimize production of wells.
The total number of active drilling rigs for oil and gas in the United States stayed the same this week, according to new data that Baker Hughes published on Friday, after rising in the week prior.
SLB joint venture OneSubSea has secured a contract award from Petróleo Brasileiro S.A. (Petrobras) for two subsea raw seawater injection (RWI) systems to increase recovery from the productive Búzios field.