Tag Archives: oil and gas

Shell Makes Another Discovery In GOM Perdido Corridor

Oil supermajor Shell has made a material discovery at the Blacktip North prospect in the deepwater of the U.S. Gulf of Mexico. Shell said that the Blacktip North well encountered approximately 300 feet net oil pay at multiple levels. Evaluation is currently ongoing to further define development options. Blacktip North is located in OCS block […]

What Could Omicron Cost Global Oil Market?

Covid,Omicron, oilfield, oil and gas, oil industry The new Omicron variant of Covid-19 could cost the global oil market as much as 2.9 million barrels per day of demand in the first quarter of next year, bringing total demand down to 95.7 million barrels per day, if it triggers more lockdowns or restrictions. That’s according […]

Oil Crashes as New Covid Variant Roils Markets

Oil crashed more than 10% in both London and New York as a new coronavirus strain sparked fears that renewed lockdowns will threaten the global recovery in demand. Both benchmarks tumbled on Friday with the emergence of the new variant representing the biggest threat to the recovery in oil consumption in several months, with a […]

USA Adds 7 Rigs

#oil and gas #oil #oilfield #roughneck #drilling #rig The U.S. added seven land rigs week on week, according to Baker Hughes’ latest rotary rig count, which was released on November 19. Total rig figures in the country now stand at 563, the latest count shows, comprised of 546 land rigs, 15 offshore rigs and two […]

Biden Gulf of Mexico Lease Sale Results Are In

#oil and gas, #oilfield, #gulf of mexico, #drilling, #roughneck, #cowboy he Bureau of Ocean Energy Management (BOEM) has announced that Gulf of Mexico Lease Sale 257 generated $191,688,984 in high bids for 308 tracts covering 1.7 million acres in federal waters of the Gulf of Mexico (GOM). A total of 33 companies participated in the […]