Here are some of Rigzone’s top upstream stories during the last week, just in case you missed them…
USA Set for Gas Boom
According to a new Rystad Energy analysis, natural gas production in the United States is set to grow to a new record of 93.3 billion cubic feet per day (Bcfd) in 2022 and will continue to rise thereafter, exceeding 100 Bcfd in 2024.
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CEO Retires as Drilling Contractor Exits Chapter 11
Diamond Offshore Drilling reported that it, along with its debtor affiliates, emerged from Chapter 11 bankruptcy on April 23 and that Marc Edwards had retired as the drilling contractor’s chairman, president, and chief executive officer.
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Exxon Strikes More Oil Offshore Guyana
Exxon Mobil Corp announced another oil discovery in the Stabroek Block offshore Guyana. The company noted that the latest discovery augments Stabroek’s previous recoverable resource estimate of approximately 9 billion barrels of oil equivalent.
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Is a $1B+ Permian Deal Brewing?
According to people with knowledge of the matter, Vitol Group is said to be near a purchase of Hunt Oil Co.’s Permian Basin oil wells, Bloomberg reported. The people said the deal could be announced in the coming days, Bloomberg highlighted.
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$380MM Brazil Drilling Contract Goes to Seadrill
Equinor Brasil Energia Ltda has awarded Seadrill Limited a four-year firm contract for the West Saturn drillship for work on the Bacalhau field in Brazil. Seadrill estimates the firm portion of the contract, which includes four one-year options, at approximately $380 million.
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Texas Upstream Adds 4,300 Jobs
The Texas Oil and Gas Association (TXOGA) reported that the state’s upstream sector added 4,300 jobs in March. The development marks the third straight month of an upstream employment uptick in the state and the largest single month-over-month gain since the summer of 2011, TXOGA highlighted.
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