Monday, January 27, 2025

Chevron Australia Pulls Plug on Bight Exploration

Chevron no-go decision for offshore project was a commercial decision Chevron Corporation’s (ticker: CVX) Australia subsidiary Chevron Australia has announced the decision to discontinue the Great Australian Bight exploration program. Chevron Australia’s affiliates acquired two deepwater exploration blocks in the Great Australian Bight Basin in October 2013. The acreage spans more than 32,000 square kms. Chevron Australia’s affiliate is operator with

Roughnecks at drill site.

Kansas Gets Its First Rig in 2017; Overall Rig Count Down 8

U.S. activity declines again; Canada increases Drilling activity declined this week as oil and gas operators continue to seek equilibrium, according to Baker Hughes Weekly Rig Count. The total number of rigs active in the U.S. dropped by eight, meaning there are now 928 rigs operational. Six land-based rigs shut down, while two offshore rigs came offline. There are now