As part of the comprehensive review of the federal oil and gas program called for in Executive Order 14008, the Interior Department will host a virtual forum on March 25th. The day-long forum will feature several panels to highlight perspectives from industry representatives, labor and environmental justice organizations, natural resource advocates, and other experts.
TGS announces new organizational structure to meet strategic objectives
08 Mar 2021
On 11 February,
TGS hosted a Capital Markets Day where the Company presented its future strategic priorities. Organizational changes to support the strategic plan have now been implemented. The
New Energy Solutions (NES) business unit, which has been established to pursue opportunities related to the Energy Transition, will be led by Jan Schoolmeesters.
Oil and Gas Insights, which consists of multi-client seismic and well data products, has been organized in two business units,
Eastern Hemisphere (EH) and
Western Hemisphere (WH). These two Business Units, which represent a simplification of the operating model and fewer management layers, will be led by Will Ashby and David Hajovsky, respectively.
energy-pedia general news
Wildcat safari running dry: Onshore success rate dips to lowest on record, falls for fourth year in a row - Rystad Energy
08 Mar 2021
The success rate of global conventional oil and gas exploration has declined in recent years, but the most painful blow has been to onshore wildcat wells, a
Rystad Energy analysis reveals. In 2020, the success rate of these drilled wildcats plummeted to an all-time-low of 10.6%, marking an annual decline for a fourth year in a row, another dubious record for oil and gas exploration.
During the first half of the last decade, the operators enjoyed high success rates in their wildcat drilling campaigns, of between 40-60% for onshore and 30-40% for offshore. Both onshore and offshore wells have seen a decline in success rates in recent years but for onshore the drop since 2016 – when explorers recorded nearly 60% success with their wildcats – has been particularly alarming.
Santos has been advised by ENN Group that it has sold approx. 107.1 million shares representing a 5.14 per cent interest in Santos at $7.33 per share. ENN has advised Santos that it remains fully supportive of Santos’ strategy and future direction and is excited to remain Santos’ largest individual shareholder with a 9.97 per cent stake.
In accordance with its guiding principle of transparency in engaging with civil society, Total has published the studies, independent third-party reviews and social and environmental action plans related to the Tilenga project in Uganda and the EACOP (East African Crude Oil Pipeline) project in Uganda and Tanzania.