(WO) – Carbon Catalyst Limited (CCL) and Perenco UK (PUK) were awarded a carbon storage license by the North Sea Transition Authority (NSTA) to progress the Poseidon carbon capture and storage (CCS) project in the Southern North Sea sector of the UK Continental Shelf. Poseidon envisions the permanent geological storage of approximately one...

(WO) – Falcon Oil & Gas Ltd. announced that the Shenandoah South 1H (“SS1H”) pilot hole in exploration permit 117 has reached a total vertical depth (“TVD”) of 3,300 meters, intersecting approximately 90 meters of the Amungee Member B-shale with strong dry gas shows. The 90 meters of the Amungee Member B-shale intersected represents...

(WO) – Equinor has awarded COSL Offshore Management AS two contracts and will employ COSLPromoter and COSLInnovator on the Norwegian continental shelf. The COSL Promoter drilling rig (Photo: COSL Offshore Management AS) The contract values are calculated at around $369 million for both firm periods. The COSLPromoter is already contracted to...

(Bloomberg) – Denbury Inc. held talks with more than two dozen potential buyers and rejected two offers from ExxonMobil Corp. before finally agreeing to sell itself to the Texas oil giant for $4.9 billion in stock last month. Executives and their advisers spoke with more than 28 parties, from international oil majors to pipeline operators,...

(WO) – Sarawak Shell Berhad (SSB), a subsidiary of Shell plc, has announced that gas production has started at its Timi platform in Malaysia under the SK318 production sharing contract (PSC). Timi features Shell’s first wellhead platform in Malaysia that is powered by a solar and wind hybrid power system. This unmanned platform is also mo...

(Bloomberg) – Global oil inventories, already near a six-year seasonal low, slumped sharply over the past month with OPEC production cuts and resurgent demand starting to affect the supply of crude. Worldwide onshore stockpiles were seen at about 3.37 Bbbl as of Wednesday, a slump of about about 60 MMbbl from a month earlier, according to e...

(WO) – PGS was awarded a 3D exploration acquisition contract offshore Africa. A Ramform Titan Class vessel is expected to mobilize for the survey in the fourth quarter, and the program has a total duration of 4-5 months. Courtesy of PGS “There is increasing exploration interest in Africa, and this award builds on the recent success of our...

(Bloomberg) – Brazil’s government may have lifted one of the key hurdles for Petrobras to drill at an offshore region considered to be the country’s most promising area for oil exploration. A major impact study that environmental authorities are demanding as a requirement isn’t necessary for the project, the attorney general’s offic...

(WO) – Permian Resources Corporation and Earthstone Energy, Inc. have entered into a definitive agreement, under which Permian Resources will acquire Earthstone in an all-stock transaction valued at approximately $4.5 billion, inclusive of Earthstone’s net debt. Under the terms of the transaction, each share of Earthstone common stock will be e...

(WO) – TotalEnergies and INPEX have signed an agreement with PTTEP to acquire the 100% interest held by PTTEP in the AC-RL7 permit in Australia. Under the terms of the agreement, TotalEnergies will acquire a 26% interest in the permit in line with its equity in Ichthys LNG, while INPEX will acquire the remaining 74% and assume operatorship....