Industry News

Shelf Drilling has secured a contract extension for its Barsk jackup with Equinor for operations at the Gudrun field in the Norwegian Continental Shelf. The firm term of the extension is two wells with an estimated duration of 254 days in total. The contract extension also includes options for three wells at Gudrun.The Shelf Drilling Barsk rig is scheduled for operations with Equinor at the Sleipner Vest field in May 2024 with an initial scope of two wells and an estimated duration of 270 days, with options for two wells. In conjunction with the extension, Equinor has also exercised the

TotalEnergies has agreed to acquire the 20% interest held by Lewis Energy Group in the Dorado leases operated by EOG Resources (80%) in the Eagle Ford shale gas play. This acquisition will increase its natural gas production capacity in Texas and further strengthen its business integration in the US LNG value chain.Located in Texas, the Dorado field will allow TotalEnergies to increase its net US natural gas production by 50 Mcf/d in 2024, with the potential for an additional 50 Mcf/d by 2028. The field has an emission intensity of around 10 kg CO2e/BOE. In 2023, TotalEnergies’ net US natural

Aramco has awarded engineering, procurement and construction (EPC) contracts worth $7.7 billion for a major expansion of its Fadhili Gas Plant in the eastern province of Saudi Arabia. The project is expected to increase the plant’s processing capacity from 2.5 bscfd to up to 4 bscfd.This additional 1.5 bscfd of processing capacity is expected to contribute to the company’s strategy to raise gas production by more than 60% by 2030, compared to 2021 levels. The Fadhili Gas Plant expansion, expected to be completed by November 2027, will also add 2,300 metric tons per day to sulfur production.“The award of these

88 Energy announced successful flow testing of the Upper SFS reservoir in the Company’s Hickory-1 discovery well, located in Project Phoenix on the north slope of Alaska.Flow testing of the Upper SFS (USFS) reservoir confirmed light oil discovery at Hickory-1. USFS flow rates achieved from low-volume frac over a small 20-ft vertical interval are in line with expectations and results observed from other reservoirs on adjacent acreage.USFS test produced at a peak gauge flow rate of over 70 BOPD of light oil. Multiple oil samples recovered, measuring approximately ~40-degree API oil gravity. Quality and deliverability of the USFS reservoir were

Petronas Suriname E&P has exercised its option for the Noble Voyager drillship to drill one additional well in Block 52 offshore Suriname at a dayrate of $470,000. The contract extension is expected to commence in direct continuation of the current well, with an estimated duration of 70 days.“This extension continues our very important collaboration with Petronas over several years on the Suriname drilling campaign,” said Blake Denton, SVP of Marketing & Contracts, Noble.（2024-04-03）

SLB and ChampionX announced a definitive agreement for SLB to purchase ChampionX in an all-stock transaction. The ChampionX Board of Directors unanimously approved the agreement. The transaction’s closing is set to occur before the end of 2024.According to the agreement, ChampionX shareholders will receive 0.735 shares of SLB common stock in exchange for each ChampionX share. When the transaction closes, ChampionX shareholders will own approximately 9% of SLB’s outstanding shares of common stock.SLB’s acquisition of ChampionX comes at an important time in the industry. The production phase of oil and gas operations typically comprises the majority of an asset’s lifecycle

Masirah Oil Limited (MOL) announced the spudding of the Yumna-5 well in the offshore Yumna Field in Block 50 Oman. The well will be drilled at the crest of the structure to drain attic oil left unswept by the current producers.Northern Offshore’s Energy Emerger jackup rig is doing the drilling and is part of a multi-well program that includes the workover of two existing production wells, Yumna-2 and Yumna-3.The completion of the drilling campaign is expected to take about 90 days.（2024-04-01）

Vaalco Energy announced all partners signed the final documents, and the government of Equatorial Guinea has approved the joint operating agreement related to the previously approved Venus-Block P plan of development (POD).The production sharing contract provides for a development and production period of 25 years from the date of approval of the POD.“With final documents for Block P signed, we are very excited to proceed with our plans to develop, operate and begin producing from the discovery in Block P offshore Equatorial Guinea over the next few years. We will now proceed with our Front-End Engineering Design (FEED) study. We