Wednesday, January 1, 2025

Eni, Exxon, Statoil win Irish Offshore Oil and Gas Licences

From Reuters LONDON (Reuters) – The Irish government said on Thursday it had awarded oil and gas licences to companies including oil majors Eni <ENI.MI>, Exxon <XOM.N> and Statoil <STL.OL>, allowing them to explore for hydrocarbons off the coast of Ireland. The energy ministry has awarded 14 new licences as a first phase of a tender for offshore blocks that

Initial production rates in tight oil formations continue to rise

From the EIA: Tight oil production in the United States increased from 2007 through April 2015, based on estimates in EIA’sDrilling Productivity Report (DPR), and accounted for more than half of total U.S. oil production in 2015. Tight oil growth has been driven by increasing initial production rates from tight wells in regions analyzed in the DPR. As drilling techniques