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Suncor Energy has been too focused on energy transition, must get back to fundamentals: CEO
According to BNN Bloomberg, the man hired to turn around the flagging fortunes of Suncor Energy Inc. said he believes the company has been too focused in recent years on the energy transition and must get back to an oil-centered business strategy. CEO Rich Kruger, who took the reins at the Calgary-based energy giant this
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Canacol Energy updates drilling, exploration operations for new gas discovery
According to World Oil, Canacol Energy Ltd. provided information concerning the new Lulo 1 gas discovery and near-term drilling plans. The Lulo 1 exploration well, located on the 100% operated VIM21 Exploration and Production (“E&P”) contract, encountered 207 feet of net gas pay within the Cienaga de Oro (“CDO”) sandstone reservoir. Lulo 1 was permanently
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Equinor: Production from Johan Sverdrup field reaches “record-high” production during capacity test
According to World Oil, a successful capacity test was performed, confirming that the Johan Sverdrup field can produce up to 755,000 bopd. During a capacity test at Johan Sverdrup, the field reached a record-high production level of 755,000 bopd. This equals six to seven percent of the daily European oil consumption. “This process capacity test
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Garrison Energy launches operations to explore oil and gas in Permian Basin
Garrison Energy, a US-based oil and gas exploration and production company, has announced the launch of its operations, according to a press release. Concurrently, the company has received a $500m equity investment from an unknown institutional investor, its management team, and employees. The Midland, Texas-based company aims to expand operations by acquiring assets in the
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Subsea7 wins a major subsea development contract worth over $750 million
According to World Oil, Subsea 7 S.A. announced the award of a major contract for a two-phase subsea development. The first phase has been recorded in the backlog of the Subsea and Conventional business unit in the second quarter of 2023. The second phase, expected in 2024, remains subject to sanction by the client. According
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Shelf Drilling secures drilling contract offshore Norway for $61 million
According to World Oil, Shelf Drilling, Ltd. announced that a subsidiary of Shelf Drilling (North Sea), Ltd. has secured an offshore drilling contract for the Shelf Drilling Barsk jack-up rig with Equinor for operations at the Sleipner Vest field, located in the Norwegian continental shelf. The firm term of the contract is two wells approximating
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ExxonMobil advances fifth oil development offshore Guyana
According to World Oil, ExxonMobil made a final investment decision for the Uaru development offshore Guyana after receiving the required government and regulatory approvals. The company expects Uaru, the fifth project on Guyana’s offshore Stabroek block, to add approximately 250,000 bbl of daily capacity after a targeted startup in 2026. The $12.7 billion Uaru project
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Equinor, Norwegian airport regulator to deploy drones over North Sea oil and gas rigs
According to World Oil, Equinor ASA, and Norwegian airport regulator, Avinor aim to make “advanced drone operations” over the North Sea commonplace to make it easier to inspect rigs and cut down the vast distances between the oil and gas platforms. Establishing an unmanned air traffic system will make it easier to employ drones up
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Trio Petroleum signs drilling rig contract for California oil well
According to World Oil, Trio Petroleum Corp., an oil and gas exploration and development company focused on strategic, high-growth energy projects in California, signed a drilling rig contract with Ensign Drilling, securing a fully equipped ADR 350 rig (#540) that can drill to a depth of 10,000 ft. Drilling operations are expected to commence in
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Halliburton introduces Auto Pumpdown service for unconventional completion operations
According to Worl Oil, Halliburton Co. has announced the implementation of the Auto Pumpdown service within Halliburton’s hydraulic fracturing business. The Auto Pumpdown service enables wireline and pump automation during unconventional completion operations. The Auto Pumpdown service controls fluid pumps and a wireline unit as a single, fully automated, closed-loop system to maximize Halliburton’s plug
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Fervo Energy Announces Investment From US Oil and Gas Leader Devon Energy
According to World Oil, Fervo Energy announced a $10 million strategic investment from Devon Energy Corporation. The investment initiates a partnership between two technical leaders and applies Devon’s 50-plus years of innovation in oil and gas to Fervo’s advanced geothermal capabilities. “We are excited about this partnership with Fervo, an innovator and leader in the
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TotalEnergies considers takeover of oil explorer Neptune Energy
According to Bloomberg, the French firm TotalEnergies is looking to take over oil and gas explorer Neptune Energy Group. TotalEnergies SE is considering a bid for private equity-backed oil and gas explorer Neptune Energy Group Ltd., people with knowledge of the matter said. The French company is among suitors that have held early-stage talks with
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