Sunday, December 15, 2024

Maersk Oil, Shell Invest $3.4 Billion in Offshore Denmark

Production over many years has caused the ground to subside Maersk Oil announced the largest-ever investment in the Danish portion of the North Sea today, redeveloping the country’s largest gas condensate field. The Danish Underground Consortium, made up of Maersk (31.2%), Shell (36.8%), Nordsøfonden (20%) and Chevron (12%), approved the investment of 21 billion Danish Krone, or $3.35 billion in

In the Third Largest U.S. Shale Gas Basin, Rig Count Noses Past Marcellus

Total U.S. rigs up by 6 – total is 929 U.S. drilling activity rose again this week, the fourth straight week of increases, according to the latest edition of Baker Hughes Rig Count. Six rigs began activity this week, meaning there now 929 drilling rigs active in the U.S. The number of land rigs increased by eight, for a total

Helix

Contango Ahead of Schedule in the Permian

One-rig program throughout 2018 Contango Oil & Gas (ticker: MCF) announced an update on its operations today, covering activity in its Permian acreage. Contango expects it will maintain its current one-rig drilling program throughout 2018, now that it has de-risked much of its acreage position. The company believes it has over 400 locations split over three benches, the Upper 2nd

What’s Worth More to the State of Texas—Land or Oil?

Texas’s Elevated 2017 Oil & Gas Production Tax Revenue Sends $1.5 Billion to Highways, Rainy Day Fund

$1.5 billion in revenues from Texas oil & gas production taxes split between rainy day and highway funds Texas Comptroller Glenn Hegar has announced the transfer of $1.47 billion into the State Highway Fund and the Economic Stabilization Fund (ESF), commonly known as the “Rainy Day Fund.” The two funds received approximately $734 million each. Higher oil and gas production