Mexico, which already is planning a deepwater Gulf of Mexico oil-block auction in January and a shallow-water auction in March, likely will add a third auction next year. The terms of bidding for conventional onshore oil and natural gas blocks are expected to be announced later this year or early next year, and contracts may be awarded in the summer, Mexico's head of the National Hydrocarbons Commission said.
Aker Solutions, an oilfield services company, says it will deliver a record-size steel-tube umbilical system to an unnamed customer for a subsea development. The Norwegian company has received a $201 million contract for the project, which will include 250 kilometers of umbilicals, said Aker CEO Luis Araujo.
Small- and medium-sized US shale producers are drilling at a faster pace than last year, likely foretelling another year of US shale production increases in 2018, according to oil executives and analysts. "Our US colleagues are hedging like mad at $56 a barrel so we will see another wave of investment in US shale, no doubt about it," Total Chairman and CEO Patrick Pouyanne said.
Energean Oil & Gas says an audit shows its two natural gas blocks off the coast of Montenegro in the eastern Adriatic Sea contain an estimated 1.8 trillion cubic feet of recoverable reserves. The Greek company has a 30-year license to explore the two blocks, which cover 338 square kilometers.
Offshore drilling contractor Rowan and Saudi Arabia have started ARO Drilling, which will lead Saudi Arabia's shallow-water drilling projects. Texas-based Rowan and Saudi Arabia's Saudi Aramco are providing rigs to launch ARO, which plans to buy 20 new rigs through 2030.
W&T Offshore is drilling an oil and natural gas exploration well off the coast of Louisiana in the Gulf of Mexico in about 52 meters of water. Drilling at the prospect, which is estimated to contain 3.2 million barrels of oil and 90 billion cubic feet of gas, will take about 55 days and reach a depth of 3,292 meters, says Otto Energy, a partner in the project.
New-well productivity in North Dakota's Bakken Shale is expected to be the highest of all major US shale plays in November, helped by enhanced completion techniques and a focus on core acreage, according to the Energy Information Administration. Separately, the first shipment of Bakken oil to China is expected next month in a sale made by Continental Resources.
Canadian producer Cenovus Energy will sell oil-producing assets in Alberta's Palliser field to Schlumberger and Torxen Energy for $1.04 billion. The sale is part of Cenovus' plan to divest assets this year to repay debt from its acquisition of ConocoPhillips' Canadian operations.
Chevron says it's temporarily suspending oil-drilling operations in Iraqi Kurdistan because of fighting in Kirkuk and a flight ban affecting the region. Chevron has been focusing on two oil blocks in Iraqi Kurdistan, but they have not yet provided enough oil for commercial production.
Purdue University scientists say a cavernous area below the moon's surface could serve as a safe moon base and offer new types of rocks and scientific data. A large lava tube, which formed when the outer edges of lava hardened, is located in the moon's Marius Hills area and could protect people from the sun's radiation and other dangerous lunar conditions, researchers say.
Register for "Full-waveform Inversion and Beyond" in Beijing
Full-waveform inversion is considered a final solution of seismic imaging. It is extremely attractive because of its capability to construct high-fidelity and high-resolution physical models, including rock density, seismic velocity, anisotropy, etc. This workshop, which takes place Nov. 20 to 22 in Beijing, focuses on the communication of new discoveries for FWI theories and applications and encourages sharing experiences, knowledge and challenges on various inversions of seismic exploration. Register today.
Submit your abstract for CPS/SEG Beijing 2018 IGCE by Oct. 31
Organizers of the CPS/SEG Beijing 2018 International Geophysical Conference and Exposition invite interested parties to submit abstracts to be considered for oral or e-poster presentations at the meeting. Submissions must conform to SEG formats described in the abstract kit, be written in acceptable English and contain high-quality graphics. View abstract topics.