They have been operating in Alaska for more than 50 years. ConocoPhillips is Alaska’s largest crude oil producer and largest owner of exploration leases. We appreciate their support to ARE's mission!
Alaska Resource Education’s Post
More Relevant Posts
-
Shell adopts a meticulous approach to Namibian oil exploration, prioritizing returns for shareholders and optimal drilling locations. CEO Wael Sawan underscores their commitment to maximizing stakeholder value while managing capital-intensive risks. #ShellNamibia #OilExploration #NamibianOil #EnergyInvestment #ResourceOptimization #OilDiscovery #EconomicProspects #NamibiaEnergy #StrategicInvestment #EnergyIndustry
To view or add a comment, sign in
-
Independent O&G Professional and a member of the Working Group of LEPLAC. Previously, Senior Geophysicist at Petrobras.
https://lnkd.in/d8zyw3Uj "The concession covers a 14,557-sq-km area, 100 km offshore in water depths varying from 80-1,000 m. Challenger secured the license in June 2020 under the Open Uruguay Round process, with the initial four-year exploration term starting on Aug. 25, 2022. Recent conjugate margin discoveries offshore southwest Africa attracted the majors to the other available offshore blocks, in the belief that the regional petroleum system charging those finds could extend to offshore Uruguay. The concession covers a 14,557-sq-km area, 100 km offshore in water depths varying from 80-1,000 m. Challenger secured the license in June 2020 under the Open Uruguay Round process, with the initial four-year exploration term starting on Aug. 25, 2022. Recent conjugate margin discoveries offshore southwest Africa attracted the majors to the other available offshore blocks, in the belief that the regional petroleum system charging those finds could extend to offshore Uruguay."
Chevron agrees to operate offshore Uruguay exploration license
offshore-mag.com
To view or add a comment, sign in
-
As the world becomes more dangerous, the two largest Western crude producers are focusing their investments closer to home. Chevron on Monday announced that it was acquiring Hess in a $53 billion deal that gives it access to one of this century’s biggest oil finds in the South American country of Guyana and allows it to double down on shale by expanding its presence to North Dakota. Both regions are established oil producers with limited geopolitical tensions, affording Chevron new reserves with fewer risks. The deal follows a megadeal in the U.S. shale patch by Exxon Mobil, which this month acquired Pioneer Natural Resources in a $60 billion merger that anchors its future to the prolific Permian Basin of West Texas and New Mexico. The back-to-back acquisitions signal that the oil majors are increasingly turning their attention to the Western Hemisphere as international investments are complicated by the threat of expanding regional conflicts, from Ukraine to the Middle East. In a call with analysts to discuss the Pioneer deal earlier this month, Exxon Chief Executive Darren Woods said that diversification allowed the company to manage geopolitical risks but that Exxon also had to make sure that it had access to low-cost production including in the U.S. Chevron’s announcement was made two weeks after Israel ordered the company to shut down natural-gas production at one of its two major offshore platforms in the Eastern Mediterranean Sea as the war between Israel and Hamas escalated. The order was a stark reminder of the risks oil majors face in a region marred by violence that has previously jeopardized ambitious energy projects. The companies also face investors’ demands that they focus on returns and steer away from the potentially profitable but costly and risky frontier exploration of untested regions that vaulted them to their global status. “The age of frontier basin, breakthrough basin exploration may be done,” said Raoul LeBlanc, an analyst at S&P Global Commodity Insights. Exxon and Chevron built their businesses for decades by scouring the globe for exploration opportunities as investors pressured the companies to add to their booked reserves, a key metric used by shareholders to value the producers. As a result, oil giants operated in far-flung locales rife with what is known in industry parlance as aboveground risk. The emergence of U.S. shale eased some of the pressure as companies were able to drill in their own backyards, where frackers didn’t have to worry about wars or sudden regime changes.
Exxon, Chevron Look to the West in an Increasingly Uncertain World
wsj.com
To view or add a comment, sign in
-
Equinor has completed #drilling an #offshore exploration well in the North Argentine basin and classified it as dry. While the geological model was confirmed, no clear indications of #hydrocarbons were found. Argerich I was the first #ultradeepwater well drilled off the coast of Buenos Aires province. Read more by our sister publication Oil & Gas Journal at https://lnkd.in/gkFyPZyK.
Equinor’s first ultra-deep well offshore Argentina comes up dry
ogj.com
To view or add a comment, sign in
-
Who's drilling the best unconventional wells in Lower 48?🤔 Ted Cross provides an exclusive glimpse into the top 25 operators in the Lower 48, offering insights into well performance since 2019. 👉 Fun fact: Only four operators breached the 200,000 barrels in one year milestone, with Coterra leading with an impressive 467 oil wells during this period. XCL Resources is turning heads with exceptional performance in the Uinta Basin, standing strong as the sole non-Permian operator in the top 8. With 14 out of our top 25 coming from the Permian, and notable showings from Bakken, Utica, and Eagle Ford, the dynamics are fascinating. Larger operators like Devon, ConocoPhillips, and Marathon make their mark, but who do you think will break into this list in the next 5 years? #oott #oilandgas #oilgas #permian #bakken #uinta
To view or add a comment, sign in
-
-
Business Consultant & Strategist | Transforming Ambition into Achievement | Leveraging Golf Skills for Business Success
𝙀𝙭𝙭𝙤𝙣 𝙈𝙤𝙗𝙞𝙡 𝙎𝙚𝙩 𝙩𝙤 𝙎𝙚𝙘𝙪𝙧𝙚 𝙁𝙏𝘾 𝘼𝙥𝙥𝙧𝙤𝙫𝙖𝙡 𝙛𝙤𝙧 𝙋𝙞𝙤𝙣𝙚𝙚𝙧 𝙉𝙖𝙩𝙪𝙧𝙖𝙡 𝙍𝙚𝙨𝙤𝙪𝙧𝙘𝙚𝙨 𝘼𝙘𝙦𝙪𝙞𝙨𝙞𝙩𝙞𝙤𝙣 ExxonMobil's impending $60 billion acquisition of Pioneer Natural Resources Company, making it the largest oil and gas producer in the Permian Basin, is expected to receive approval from the U.S. Federal Trade Commission (FTC). The approval comes with the condition that Pioneer’s co-founder, Scott Sheffield, will not join Exxon's board due to concerns about his previous attempts to influence oil pricing and output. The decision, likely announced soon, follows scrutiny over Sheffield's advocacy for Texas oil production caps and his indirect involvement in a lawsuit alleging collusion with OPEC. Despite this, Exxon aims to boost its production in the Permian Basin significantly, from 600,000 barrels last year to about 2 million by 2027. This deal is part of a broader industry consolidation that the FTC is monitoring closely, especially under the leadership of Lina Khan and amidst political pressures related to energy prices and environmental impacts. Exxon plans to reduce Pioneer's emissions to net zero by 2035, enhancing its sustainability commitments. https://lnkd.in/gVWKJ7CD
Exxon Set to Win FTC Approval for $60 Billion Pioneer Deal
bloomberg.com
To view or add a comment, sign in
-
It will be interesting to see how these oil revenues impact the quality of life for the people of Guyana. Local jobs and funding for infrastructure development such as roads, parks, tourism, schools and hospitals, etc., etc., etc.
The story of Guyana being just a tiny South American country to one of the most prolific oil producers in the world is remarkable, according to ExxonMobil Upstream President, Liam Mallon. https://lnkd.in/ebDxXr_p
“It is one of the most incredible success stories” – Mallon on Guyana’s oil development
https://oilnow.gy
To view or add a comment, sign in
-
Are you interested in gaining valuable insights into sequence development in the Delaware Basin and the execution of large pad projects in the Midland Basin? Join me tomorrow (9/26) at the Bush convention center in Midland as I chair a panel of experts from ConocoPhillips who will delve into the reservoir characteristics of the Wolfcamp formation in the Delaware Basin and the key considerations and challenges associated with planning and executing large-scale drilling pads in the Midland Basin. This session will provide participants with the knowledge to better evaluate and optimize development and operational strategies. Don't miss out on this opportunity to learn from the best in the industry! #ConocoPhillips #PermianBasin #OilandGas #DrillingPads #ReservoirCharacteristics #OperationalStrategies #SPE
To view or add a comment, sign in
-
Many giant oil companies have tried and failed over the years to separate 86-year-old wildcatter Autry Stephens from control of his 340,00 acres of west Texas oilfields. That’s where his Endeavor Energy Resources has drilled and fracked more than 1,100, from which he produces 400,000 barrels of oil per day. ExxonMobil, a onetime joint venture partner of Stephens’ was rumored to be prepping a bid a few years back; it decided instead to splurge $60 billion on Permian basin rival Pioneer Natural Resources. Then Shell was said to be said to be deep in negotiations to pay upwards of $14 billion to Stephens, but market conditions shifted. ConocoPhillips too was rumored to be in on the hunt. But Stephens wouldn’t sell. His doggedness in not just building Midland-based Endeavor from scratch, but hanging on to it through the highs and lows — like the “near death experience” of seeing oil prices collapse when you’ve taken on too much debt — earned him the no. 45 spot on last year’s Forbes 400 list, with an estimated fortune of $14.8 billion. Turns out that was a conservative estimate. Stephens is finally selling Endeavor, in a $26 billion deal, to Diamondback Energy.
Texas Wildcatter Hits Gusher In $26 Billion Sale Of Oil Company
To view or add a comment, sign in