Exploration

A Wood Mackenzie analysis from Andrew Latham, Kristina Beadle, and David Parkinson  The global exploration industry was in a good place at the start of 2020, having recovered from a decade of high costs and poor monetisation. In this article Wood Mackenzie shares...

Oil companies operating in Brazil have long complained about delays getting drilling permits and environmental impact reports approved by the Brazilian Institute of Environment and Renewable Natural Resources (IBAMA). Just recently, S&P Global Platts reported that Brazil’s National Energy...

By the time ExxonMobil acquired rights to explore the 6.6 million-acre Stabroek block 120 miles offshore Guyana, 22 wells, from as far back as the 1970s, had already been drilled by other companies on the coastal shelf outside the...

Bahamas Petroleum Company has spudded the Perseverance #1 well in The Bahamas, targeting P50 prospective oil resources of 0.77 billion barrels, with an upside of 1.44 billion barrels. The company said on Monday the well was drilled on December 20 at...

The unprecedented oil exploration success in Guyana is raising hopes for countries throughout the region and this is seeing a renewed emphasis being placed on the search for black gold. An independent evaluation of Prospective Resources offshore Jamaica prepared by Gaffney...

A drill-stem test operation is set to get underway at the Redtail-1 well site located 103 nautical miles off the coast of Guyana at the Stabroek block. Redtail-1 is ExxonMobil’s 18 discovery on the block, announced in September. The well...

Global oil reserves are not being replenished with enough conventional resources for future demand of oil and gas and this is set to create a major shortfall through 2050 despite lower future demand due to the coronavirus pandemic and...

Equinor Energy AS, operator of production licence 960, has come up dry at the wildcat well 7018/5-1 in the Barents Sea. The well was drilled about 100 kilometres southwest of the Snøhvit field, and about 195 kilometres west of...

(S&P Global) Brazilian state-led oil company Petrobras could turn to Guyana for access to acreage along South America's equatorial margin if local environmental regulators do not grant permits to drill in Brazil's Foz do Amazonas Basin, CEO Roberto Castello...

Touchstone Exploration Inc. said Thursday drilling at the Cascadura Deep-1 exploration well on the Ortoire exploration block onshore Trinidad and Tobago encountered significant hydrocarbon accumulations based on drilling and wireline log data. The Cascadura Deep-1 well was drilled to a...