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...Norway is allowing fossil fuel exploration, as well as issuing licences for drilling and deep sea mining for minerals....
...The deal follows a wave of merger and acquisition activity in the US oil and gas sector, as companies seek to acquire dwindling drilling acreage....
...Exploration companies, meanwhile, were struggling to raise capital because of interest rate hikes, he added. “Exploration is where babies come from....
...Overall, Petrobras plans to spend $7.5bn on exploration over the next five years drilling 50 wells, mostly in Brazilian waters....
...But they also provide access to sophisticated technologies that are vital to support exploration and development of complex drilling operations....
...That left the former with the upstream business focused on gas exploration and production and the latter on storage and transport....
...Extraction involves subsea collection vehicles that send materials up to a surface vessel for processing, avoiding the complications of drilling....
...Biden’s calls for more drilling....
...Heather Powell, chief executive of Ventana Exploration and Production, an oil and gas company based in Oklahoma City, said the shale crash had left deep scars on producers and investors, who were now reluctant...
...That adherence to strict exploration plans suggests the US shale energy industry will shift further away from its role as a swing supplier, able to quickly turn up the production dial to douse price rises...
...Michael Stott So the state-controlled oil company Petrobras has applied for permission to do some exploratory drilling off the coast of the Amazon....
...Independent exploration and production companies (E&Ps) have changed radically. They not only generate cash but reward shareholders with steady dividends and buybacks....
...“One issue that will have to be faced is the issue of limits, a ceiling for oil exploration....
...Whatever the region’s untapped hydrocarbon riches, exploration in the Arctic is too expensive, too controversial and too much of a headache for serious companies to take seriously these days....
...The decision to allow exploration and potentially extraction has drawn fire from everybody from environmentalists and fishing groups to big companies and, most recently, the European parliament....
...The move — which comes alongside tighter restrictions on exploration in Alaska’s National Petroleum Reserve — has been viewed as largely symbolic as there had been minimal interest in drilling in the leased...
...Many UK-focused companies rely on squeezing more barrels out of existing fields. They often do this by drilling new wells close to assets....
...Antero Resources has cut rig numbers from three to two and slashed its exploration budget....
...A request by state-controlled oil company Petrobras to conduct exploratory drilling in the Equatorial Margin offshore zone, which stretches across the coastline of six impoverished Amazonian states, was...
...The company has raised £2.8mn and is seeking to raise about £3mn in a combined private placing and retail investor raise with a pre-money valuation of £27mn to fund a second drilling programme starting next...
...The speech will also include a bill to set up annual licensing rounds for North Sea oil and gas exploration, a measure partly intended to highlight Labour’s plan to ban new drilling....
...A further two companies that specialise in exploration and production have listed this year, making it the busiest year of listings in the broader oil and gas sector since 2018....
...for companies to pollute....
...Rather than encouraging drilling, leftwing president Gustavo Petro has increased oil taxes and banned new exploration contracts to wean the country off fossil fuels....
...Now there are inklings of excitement in exploration. That is good news for the likes of Shell, TotalEnergies and drilling services groups....
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