Deepwater-Oil-Exploration

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 […]

biggest-oil-discovery

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 […]