In a move that came as a surprise to some, today’s oil and gas lease round in the U.S. Gulf of Mexico generated substantial interest on Wednesday. The sum of the high bids clocked in at $120 million, according to the Bureau of Ocean Energy Management. Of the 14,900 blocks offered in Sale 256, 93 […]
Global conventional oil and gas discoveries already exceed eight billion barrels of oil equivalent (boe) and are projected to settle at around ten billion boe by the end of the year, according to a new Rystad Energy analysis. About 3.75 billion boe, or 46 percent of total discovered volumes, are gas while liquid volumes are […]
Deepwater exploration appears to be the focus of major investments in Mexico in Q3. As state-controlled oil company Pemex focuses on easy-extraction shallow water projects, private players set their sights on deepwater alternatives. International companies are seizing the opportunity to explore Mexico’s reserves, with two exploration projects from Shell and one from China National Offshore […]
The world’s largest independent oil trader, Vitol Group, is considering potential acquisitions in the U.S. shale patch, chief executive Russell Hardy said on the Reuters Commodity Trading Summit on Tuesday. “Nothing has been done, it’s just an area where we feel there might be a fit from an asset point of view, where capital is […]
China plans to further increase oil and gas exploration and accelerate the construction of more oil and gas storage infrastructure, state news agency Xinhua reported on Tuesday. Last week, China’s Communist Party adopted the principles of the five-year development plan 2021-2025. China will also aim to build more oil and gas pipelines, according to its […]
It’s just as well because efforts here in Scotland to build an energy transition movement and creating a viable, large-scale renewables or net-zero manufacturing supply chain have so far – with one or two exceptions – failed and the number of jobs forecast 10 years or so ago have simply not materialised. It also now […]
Thirty-five percent: this is the size of the spending cuts oil and gas companies are likely to have made this year in response to the effects that the coronavirus pandemic is having on demand, according to the International Energy Agency. And this is just the spending slump in upstream oil and gas. This is just […]
Portfolio managers increased their bullish bets on crude oil futures and options in the week to October 20 by the most since April, according to the latest commitment of traders report with data from exchanges. The jump in longs in Brent Crude and WTI Crude coincided with increased market speculation earlier this month that OPEC+ […]
In a year marked by huge spending cuts across the oil and gas industry amid urgently revised budgets and slashed investments, some analysts are now expecting a light at the end of this tunnel, at least offshore. From next year, Rystad Energy expects offshore oil and gas investments to rebound, but there will be a […]
When Michelangelo Merisi (also known as Caravaggio) left continental Italy for Malta in 1607 to escape the ramifications of a lethal sword fight, little did he know what a profound impact he would leave on the little Mediterranean island. For Michelangelo himself the impact was questionable at best – apart from painting some of his […]
Wheeler Ridge’s team of industry experts help Mineral Royalty and Producing Working Interest owners sell their assets at the absolute best value..