U.S. oil company Hess Corporation has cut its capital and exploratory program in response to the sharp drop in oil prices, affecting both onshore and offshore drilling programs. The company said Tuesday it would reduce its capex to $2.2B from previously proposed $3 billion…
Oil and gas company Kosmos Energy is set to slash both capex and opex, and will suspend dividend payment citing the need to maintain balance sheet and preserve flexibility during the oil price volatility.'At the 4Q19 results, we guided to a…
Total has made a hydrocarbon discovery at the Isabella exploration well in the UK Central North Sea, Neptune Energy, Total's partner in the project has informed.Neptune Energy has described Isabella as 'an encouraging hydrocarbon discovery'…
Cairn Energy’s subsidiary Capricorn Norge has been given permission to drill a wildcat well in the North Sea offshore Norway. The Duncan exploration well (35/8-7S) will be drilled using the Island Innovator semi-submersible drilling rig. The well is located in the production license 880…
Offshore drilling company Noble Corporation has informed that Richard Barker will be appointed as Chief Financial Officer of the company.The new appointment comes following the current CFO Stephen M. Butz's decision to to step down as Executive…
Forewarned is forearmed, an adage that is particularly true when it comes to deepwater drilling. Offshore drillers are increasingly relying on existing and new downhole data technologies to make real-time decisions and keep operations safe.Multi…
China's CNOOC Ltd said on Monday that it made a large-sized discovery in Bohai Bay offshore China.Located in the Laizhou Bay in southern Bohai basin, the Kenli 6-1 discovery is expected to produce around 1,178 barrels of oil per day, the company said in a statement…
Bahamas Petroleum has delayed its plans to drill an exploration well offshore The Bahamas, citing the impact of the coronavirus on operations.Previously planned to spud in April 2020, the #Preseverance 1 exploration well is now anticipated to be spud in late May or early June…
Canadian oil and gas company has cut its CAPEX and production guidance for 2020 amid the volatile oil market environment. The cuts will be made in its upstream business with projects put on hold in China, Indonesia, and Canada.The company has slashed its 2020 capital program reduced by $900 million…
Deepwater drilling rig contractor Pacific Drilling has found more work for its Pacific Sharav drillship.The drilling company on Wednesday revealed that Murphy Oil had hired the drillship for work offshore Mexico. According to the fleet status report…
U.S. oil and gas company Murphy Oil has slashed capital spending plans by $500 million citing 'current market conditions and recent commodity price volatility.' The company plans to preserve dividend payments.Murphy’s revised 2020 budget is approximately $950 million…
Australian oil and gas operator Santos is planning to carry out an offshore survey in preparation for the proposed Yoorn-1 drilling in the offshore block WA-499-P, in W. Australia.According to an application filed this week, as part of the drilling preparatory work…
Offshore drilling contractor Valaris has informed that one of its drillships has been involved in an incident that included the accidental dropping of a Blowout Preventer Stack to the seafloor of Angola. The incident might cost the company the drilling contract…
Oilfield services firm Archer announced Tuesday that Dag Skindlo will take over as the company's new Chief Executive Officer and that Espen Joranger will succeed Skindlo as Chief Financial Officer.Skindlo joined Archer as Chief Financial Officer and EVP Strategy in May 2016…
Equinor Energy has received approval from the Norwegian Petroleum Directorate to drill a wildcat well in the North Sea, offshore Norway.The company will use the West Hercules semi-submersible drilling rig to drill the Gabriel prospect exploration well formally named well 35/10-5…
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