Gazprom Neft has begun drilling wells at one of Russia’s largest oil and gas condensate fields — the Chayandinskoye, with proactive pilot development scheduled to start in Q4 2019. Gazprom Neft is developing the Chayandinskoye oil-rim deposit under an operatorship agreement with Gazprom Dobycha Noyabrsk LLC. A production well built...
Mexico's regulator has approved Shell's exploration plans for four deepwater areas, after it gave the green light to five others earlier this week, committing Royal Dutch Shell to invest at least $791 million. The plans stipulate that Anglo-Dutch Shell could invest up to $1.06 billion in the four blocks, mostly...
Weatherford International is headed to bankruptcy court to try to slash its crushing debt load. On Friday, the services company said it planned to file under Chapter 11, and announced that its senior creditors are expected to facilitate financing that will sustain operations during bankruptcy and afterward. The company’s statement on...
Yantai-based Jereh Group, a private Chinese oil and gas equipment manufacturing company, released the world's first electric-drive fracturing equipment on April 20. The drive will significantly reduce costs and improve the efficiency of shale gas extraction. China has the largest proven reserves of shale gas globally. And among the integrated...