Thursday, March 20, 2025

Oil Majors Move on Brazil

Pre-Salt rounds 2 and 3 offer more potential oil than Bakken-Three Forks Brazil’s President Temer believes development of the blocks could bring $160 billion to the country Major oil producers are currently looking to Brazil, where one of the last major plays in its infancy beckons. Brazil completed two offshore auctions on Friday, and a total of eight blocks were

Diamond Offshore's Ocean Endeavor

Gen-6 Drillship Finishes Well 47 Days Ahead of Schedule: Diamond Offshore Reports Profitable Quarter

Diamond Offshore Drilling (ticker: DO) Q3 highlights: Net income of $11 million, or $0.08 per diluted share Adjusted net income of $34 million, or $0.25 per diluted share, excluding costs associated with the redemption of our 2019 senior notes Diamond Offshore fleet updates Diamond Offshore said operating efficiency, excluding planned downtime, was 98.5% in Q3 One sixth-generation drillship drilled and

Mexico

Mexico’s Pemex Posts $5.6 Billion Loss on Lower Output

From Reuters Mexico’s Pemex reported a narrower loss in the third quarter on Friday, but results for the state-run oil company were weighed down by a sharp slump in crude output. Tanks holding fuel of state-owned company Petroleos Mexicanos (PEMEX) are seen at a storage facility, in Ciudad Juarez, Mexico October 4, 2017. Picture taken October 4, 2017. REUTERS/Jose Luis

Source: U.S. Energy Information Administration and IHS Market

FERC Gets Back to Work Reviewing Pipeline Applications, and There Are Plenty of Them

Several key new projects approved in Northeast Utica and Marcellus; 50 more in process Without pipelines to take Marcellus and Utica natural gas and liquids production to the markets that need the gas, the shale boom stagnates—it’s been a problem in the Northeast since shale gas drilling took off over a decade ago. But with the loud cry for takeaway