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07 May 20
Egypt: Neptune Energy completes seismic survey offshore Egypt
Neptune Energy has announced the successful completion of an ocean bottom nodes (OBN) multiclient survey in the North West El Amal block, offshore Egypt, delivering promising results for further analysis. The project, prefunded by Neptune, was carried out by WesternGeco under a contract with the Egyptian General Petroleum Corporation (EGPC).
07 May 20
Talos Energy announces first quarter 2020 financial and operational results
Talos Energy has announced its financial and operational results for the first quarter of 2020, provided an operations update and updated its 2020 guidance. Results for the first quarter of 2020 include one month of results from the Company's recent acquisitions of affiliates of ILX Holdings.
07 May 20
Peru: PetroTal announces temporary shut in of Bretana oil field
PetroTal has announced that the Northern Oil Pipeline operated by Petroperu has been shut down by a public health directive from the Peruvian government, thereby resulting in PetroTal having to shut in the Bretana oil field as a result of storage capacity limitations.
07 May 20
Iraq: Genel Energy provides update on Tawke PSC
In Q1 2020, gross production at the Tawke and Peshkabir fields averaged 61,493 bopd and 53,714 bopd respectively. The Peshkabir-to-Tawke gas capture, transport and reinjection project, to effectively end CO2 emissions at Peshkabir and boost oil recovery at Tawke, has been completed and is undergoing commissioning.
07 May 20
DNO reports 35 percent cut in 2020 spend - bolstering cash position
DNO, the Norwegian oil and gas operator, has identified and implemented 2020 budget cuts of USD 350 million or 35 percent across all spend categories as the Company moved early and quickly to protect its personnel and operations and preserve its cash position in response to the the devastating impact of the coronavirus pandemic.
07 May 20
Equinor announces first quarter 2020 results
Equinor reports adjusted earnings of USD 2.05 billion and USD 0.56 billion after tax in the first quarter of 2020. IFRS net operating income was USD 0.06 billion and the IFRS net income was negative USD 0.71 billion, following net impairments of USD 2.45 billion.
07 May 20
UK: Independent Oil and Gas awards Phase 1 SURF Contract to Subsea 7
Independent Oil and Gas has awarded a SURF Contract to Subsea 7 which will cover the work on Phase 1 of its Core Project in the UK Southern North Sea, comprising the development and production of the Southwark, Blythe and Elgood fields through a total of five wells with gas transported onshore via the Thames Pipeline.
07 May 20
US: 88 Energy and XCD Energy to merge creating an Alaska-focused oil company
88 Energy and XCD Energy are to merge to form an oil exploration company with operations on the North Slope of Alaska, USA with platform of growth prospects. 88 Energy will acquire XCD Energy via a unanimously recommended off-market takeover offer.
06 May 20
Apache Corp announces first-quarter 2020 financial and operational results
Apache Corp has announced its financial and operational results for the first-quarter 2020. The Company reported a loss of $4.5 billion during the first-quarter 2020. When adjusted for certain items that impact the comparability of results, Apache reported a first-quarter loss of $51 million. Net cash provided by operating activities in the first quarter was $502 million, and adjusted EBITDAX was $764 million.
06 May 20
UK: Petrofac secures UK renewals totalling USD100 million
Petrofac’s Engineering & Production Services business (EPS) has been awarded two three-year renewals in the UK, worth a combined total of more than US$100 million. Both awards come with options to extend beyond the initial term.
06 May 20
Norway: PGNiG Norway increases stake in the Gina Krog field and acquires an interest in the undeveloped Alve Nord field
PGNiG has increased its stake in the Gina Krog field (licence PL127C) to 11.3% and has purchased an 11.92% interest in the undeveloped Alve Nord field (licence PL127C). PGNiG Upstream Norway estimates these acquisitions will increase the company’s future gas production by 100 mcm a year.
06 May 20
Mexico: Qatar Petroleum farms into three Total blocks offshore Mexico
Qatar Petroleum has entered into three farm-in agreements to acquire about 30% of Total’s participating interest in Blocks 15, 33 and 34 located in the Campeche basin, offshore Mexico.
06 May 20
UK: OGA unveils strategy to support Net Zero
The Oil and Gas Authority (OGA) has signalled its intention to refresh its core aim, including a requirement for industry to help the government achieve the target of Net Zero greenhouse gas emissions by 2050.
06 May 20
UK: Jersey Oil and Gas announces final results for the year ended 31 December 2019
Jersey Oil & Gas has announced its audited results for the year ended 31 December 2019. The Company has significantly increased net discovered and recoverable resource estimates owned by the Company to more than 120 mmboe following transformational awards of licences in the Greater Buchan Area as part of the UK 31st Supplementary Offshore Licensing Round.
06 May 20
Aker BP announces first quarter 2020 summary
Aker BP delivered strong operational performance and set a new production record during first quarter 2020. This was however overshadowed by the COVID-19 pandemic and the sharp drop in global oil prices.
06 May 20
Tanzania: Aminex provides Ruvuma farm-out update
Aminex has provided an update on the Ruvuma farm-out to ARA Petroleum. The farm-out will see the Company carried for up to US$35 million of its share of costs associated with the development of the Ntorya gas field, onshore Tanzania.
06 May 20
Equinor divests its minority shareholding in Lundin Energy
Equinor has divested its financial shareholding in Lundin Energy, comprising around 14 million shares and corresponding to its 4.88% percent of the shares and votes, at a total sale price of approx. SEK 3.3 billion.
06 May 20
Iraq: DNO completes Baeshiqa testing - prepares to spud next well
DNO has announced completion of testing and appraisal of the Baeshiqa-2 exploration well in the Kurdistan Region of Iraq and the imminent spud of an exploration well on a separate prospect, Zartik, located 15 kms southeast on the same license. The testing has proven oil and gas in three separate Triassic aged reservoirs.
05 May 20
Australia: New hydrogen fund could fuel new industry in Australia
The Australian Petroleum Production & Exploration Association (APPEA) has welcomed the Australian Government’s establishment of an Advancing Hydrogen Fund to support the development of a commercial hydrogen industry in Australia.
05 May 20
Brazil: Petrobras releases teaser for the sale of its stake in the Manati field located in the Camamu Basin
Petrobras reports that it has started the opportunity disclosure stage (teaser), referring to the sale of its entire stake in the Manati field, a maritime production concession in shallow waters located in the Camamu Basin, in the State of Bahia.
05 May 20
Senegal: PetroNor announces update on Senegalese arbitration
PetroNor has announced that the Company has reached a mutual agreement with the Government of Senegal to suspend the Arbitration related to the Rufisque Offshore Profond and Senegal Offshore Sud Profond licence areas for a period of six months with a view to reaching a satisfactory outcome for all parties.
05 May 20
Occidental announces first quarter 2020 results
Occidental Petroleum has announced a net loss attributable to common stockholders for the first quarter of 2020 of $2.2 billion and an adjusted loss attributable to common stockholders of $467 million. Oil and gas pre-tax income for the first quarter was $179 million, compared to $921 million for the fourth quarter of 2019.
05 May 20
Congo (Brazzaville): Zenith Energy announces completion of Tilapia acquisition and private placement
Zenith Energy has announced the successful completion of the acquisition from AIM listed Anglo African Oil & Gas of a 56 percent majority interest in, and operatorship of the Tilapia oil field, offshore Congo (Brazzaville). The Comany has also completed a private placement to raise an aggregate total amount of approx. £540,000.
05 May 20
Total adopts a new climate ambition to get to net zero by 2050
Total has announced its ambition to get to net-zero emissions by 2050 together with society for its global business across its production and energy products used by its customers.
05 May 20
Mexico: Eni's Ehecatl-1 exploration well on Block 7 disappoints
JV partner Cairn Energy reports that operations have been completed on the Eni operated Ehecatl-1 exploration well on Block 7, located in the Sureste Basin Offshore Mexico. The well failed to encounter hydrocarbons and has been permanently plugged and abandoned.
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