NorthAmOil - North America Oil & Gas

Three new areas to be opened up for 2023 bidding round in Newfoundland and Labrador

Canada’s Newfoundland and Labrador will include three new areas in its 2023 offshore bidding round, according to a senior provincial government official.

Newfoundland and Labrador targets new offshore oil, gas investment

Newfoundland and Labrador is optimistic about additional oil production from its offshore acreage in 2023 – compared with 2022 – and incremental investments, according to senior provincial government officials.

Oilfield services firms may face structural upcycle

The “Big Three” oilfield services companies have registered high profits for 2022. The combined net income of Halliburton, Baker Hughes and SLB, formerly Schlumberger, last year was $4.4bn, the highest since the peak of the US shale boom in 2014.

NorthAmOil: Hess to focus in 2023 on Bakken shale play

Hess to focus in 2023 on Bakken shale play

Hess Corp. will focus more than 80% of a $3.7bn capital and exploratory budget in 2023 on a four-rig drilling programme in the Bakken shale, and also on development in Guyana.

ExxonMobil ends routine flaring in Permian Basin

ExxonMobil says it has halted routine flaring of gas in the Permian Basin, reports Reuters. Flaring is the practice of burning off excess gas from drill sites.

Matador Resources is buying Advance Energy in $1.6bn deal

Matador Resources is buying Advance Energy Partners. The Delaware Basin bolt-on is for $1.6bn plus $7.5mn cash for each month in 2023 in which the average price of oil exceeds $85 per barrel.

HighPeak to explore sale of company

HighPeak Energy will explore a potential sale of the company, it has announced. This is to maximise shareholder value, the Texas-based, oil-oriented exploration and production company said.

US waives sanctions for Dragon gas project

OFAC has given Trinidad and Tobago permission to work with PdVSA and Shell at the Dragon offshore gas field.

Freeport completes repairs and requests to restart facility

Freeport LNG revealed on January 23 that repairs at its plant located on Quintana Island in Texas have been completed.