Friday, December 27, 2024

As Mexico’s and Venezuela’s Fall, Brazil’s Oil Production Rises

Brazil now third-largest oil producer in Americas Brazil is now the third-largest oil producer in the Americas, behind only Canada and the U.S., according to the EIA. The EIA reports Brazil produced Brazilian oil output has been rising since the mid-1990s, growing from less than 1 MMBOPD to nearly 3.7 MMBOPD in July this year. While the U.S. has always

Bill Barrett

Bill Barrett Sells Uinta Assets, Becomes Pure-Play DJ

Metrics indicate price above average Bill Barrett Corporation (ticker: BBG) announced the sale of its Uinta Basin assets, transitioning to a pure-play DJ Basin player. The assets sold produced about 2,330 BOEPD, 91% of which was oil, in Q3. In total, Bill Barrett owns about 24,000 net acres in the Uinta, with reserves of about 12 MMBOEPD. The company will

BP Unloads $400 Million In North Sea Gas Fields

Rhum, Bruce and Keith fields divested BP (ticker: BP) announced the sale of several fields to Serica Energy (ticker: SQZ) today, in a deal worth around $400 million. BP will sell its shares of the Bruce, Keith and Rhum fields in the North Sea. Serica will receive a 36% interest in Bruce, a 34.83% interest in Keith and a 50%