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Flaring stays near record-high in the Permian

OilNOW -
Flaring and venting in the Permian Basin has stabilized in the range of 600 million to 650 million cubic feet per day (MMcfd), according to Rystad Energy’s preliminary data for the third quarter of 2019. Venting is gas release without...
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Bristow gets greenlight from Bankruptcy Court for reorganization

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Bristow Group Inc. said on Monday the U.S. Bankruptcy Court for the Southern District of Texas has confirmed the Company's Amended Plan of Reorganization and indicated that it will enter a written order to this effect. The Company expects to consummate...
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Exxon will not take final decision on Mozambique LNG project this week

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Exxon Mobil will stop short of taking a final investment decision (FID) on its massive $30 billion liquefied natural gas (LNG) project in Mozambique when it attends an event there on Oct. 8, a source familiar with the matter...
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Guyana could avert Dutch Disease with sound economic plan

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Warning bells have been ringing in the South American country of Guyana ever since ExxonMobil made its first world class discovery at the Liza field back in 2015. With every discovery since then – 14 to date by Exxon...
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Strict rules will ensure NRF not treated as slush fund by any gov’t – finance minister

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Guyana’s finance minister, Winston Jordan, says ‘strict rules’ governing the administration of the fund that is being set up to manage oil income will ensure that no government can misuse the billions of dollars in revenue the country is...
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Sale of Asia Pacific assets will see ExxonMobil raising $5B

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Wood Mackenzie has identified the five most likely disposal candidates after ExxonMobil signalled the start of its Asia Pacific divestment programme. Together, these opportunities are worth US$5 billion, and could contribute a third of the Supermajor's global divestment target. Having...
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Suriname’s state oil firm signs production-sharing deal with Columbus

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(Reuters) - Suriname’s state-owned oil firm said on Friday it had signed a production-sharing agreement for the onshore Weg Naar Zee (WNZ) block with Britain-based oil and gas exploration company Columbus Energy Resources. In a statement, the company, Staatsolie Maatschappij...
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Chevron farms into Shell’s Mexico deepwater blocks

OilNOW -
US supermajor Chevron said on Friday it signed an agreement with Royal Dutch Shell to buy a 40% stake in three deepwater blocks on the Mexican Gulf. The deal which was approved earlier this week by Mexico’s oil regulator, the...
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Seven Bourbon Rhode crew members still missing

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Search operations carried out since September 26 by the CROSS French West Indies-Guyana and the French Navy have resulted in the rescue of three survivors of the Bourbon Rhode shipwreck, as well as the recovery of four bodies. Bourbon...
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Hess $275M deal to help fund Stabroek investment

OilNOW -
Hess will receive approximately $275 million in cash and approximately 115 million newly issued units in Hess Midstream Partners LP (NYSE: HESM) as part of a proposed transaction announced on Friday by HESM. Hess said cash proceeds from the transaction will help to fund its project...
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Exxon hits 900,000 barrels of oil per day in Guyana as Yellowtail reaches full capacity

ExxonMobil Guyana today announced that the country’s daily oil production has reached a new milestone of 900,000 barrels per...

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