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...What is striking is that shares in US-listed gas-focused exploration and production companies have performed surprisingly well year to date....
...The cuts have crimped production of crude by some 5.3mn barrels a day, or about 5 per cent of global supply....
...Its find proves that despite rumours to the contrary, oil exploration is not dead yet. Other Big Oil names will be interested in sharing in that success....
...The midstream company was spun off from EQT in 2018 after activist pressure, with EQT retaining its upstream business, focusing on natural gas exploration and production, and Equitrans Midstream on storage...
...exploration and production....
...The company took a day off from production work at several big facilities to focus on quality issues. Still, it did not strike me as enough....
...Brazil must consider capping oil production and exploration, the country’s environment minister has said, casting her in opposition to the government’s own plans of turning the nation into one of the biggest...
...Exploration companies, meanwhile, were struggling to raise capital because of interest rate hikes, he added. “Exploration is where babies come from....
...The carmaker said it hoped the factory would become a “first-class electric vehicle production hub in the region” with the capacity to build 150,000 cars but gave few details of its plans....
...That left the former with the upstream business focused on gas exploration and production and the latter on storage and transport....
...Companies also remain steadfast in terms of exploration. GEM tracked 50 new project discoveries between 2022-2023, totalling about 20bn boe....
...High production could also make the Biden administration more focused on promoting other forms of greener energy. Independent exploration and production companies (E&Ps) have changed radically....
...A handful of exploration companies are searching for new deposits of uranium, which has tripled in price since the start of 2021 because of a resurgence in interest in nuclear energy....
...Sheikh Mansour owns Premier League football club Manchester City, while RedBird IMI last month agreed to buy a British television production company, All3Media, for more than £1.1bn....
...Shares in US-listed gas-focused exploration and production companies have performed well in the year to date, helped partly by timely gas price hedging....
...But it is simultaneously fighting battles on multiple fronts, including slow electric vehicle production and union disagreements. It may expand its outlook....
...investment fund Temasek, which valued the company at $5.4bn....
...Such pricing “seriously jeopardises non-Chinese producers and exploration projects”, said Ellie Saklatvala, head of non-ferrous pricing at Argus....
...“That could mean a race to the bottom when it comes to production fees.”...
...Almost all international exploration licences are in the Clarion-Clipperton Fracture Zone, in the Pacific Ocean near Hawaii....
...Oil production in the delta has since generated billions of dollars in revenues for the companies and the government but become increasingly costly for international operators....
...The largest US oil company by sales said it expected annual capital and exploration expenditure of $23bn-$25bn in 2024, rising to $22bn-$27bn from 2025 to 2027....
...Antero Resources has cut rig numbers from three to two and slashed its exploration budget....
...The price of oil is being kept down by weak Chinese demand, despite Opec production cuts....
...But they also provide access to sophisticated technologies that are vital to support exploration and development of complex drilling operations....
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