Argentina awards offshore exploration permits
The winning companies offered bids totalling US$724 million, the government said in official statements, and won the rights to explore for up to 13 years in areas of the South Atlantic.
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The winning companies offered bids totalling US$724 million, the government said in official statements, and won the rights to explore for up to 13 years in areas of the South Atlantic.
The company's interest has been sold to the existing partners in the Block 5 exploration licence, subsidiaries of Murphy Oil Corporation, Wintershall Dea and Petronas.
The partnership aims to acquire large, high-margin oil and gas production and development assets across the Lower 48 states of the US.
The presence of gas clouds has been used as an effective exploration tool in prolific basins worldwide, contributing to the discovery of significant amounts of oil.
Talon now holds 100% interests in EnCounter’s exploration licences in the UK North Sea.
The new discovery, in Block 15/06, is estimated to contain up to 250 million bbls of light oil in place.
The Blackrock exploration well is located in the West of Shetland.
Rystad Energy, the independent energy research and consultancy, has analysed the historic investments and oilfield service purchases of the world’s 50 000 oil and gas fields.
The number of drilled but uncompleted wells in seven key oil and natural gas production regions in the United States has increased over the last two years, according to well counts in the EIA’s drilling productivity report.
Under the terms of the agreement, Eni will pursue exploration activities in the offshore area of over 2800 km2, located in the northern territorial waters of the Kingdom of Bahrain, with water depth ranging from 10 up to 70 m.
Spectrum owns the world’s largest 2D library of seismic data.
Adjusted earnings were US$4.19 billion in 1Q19, down from US$4.41 billion in 1Q18. Adjusted earnings after tax were US$1.54 billion, up from US$1.47 billion in the same period last year.