Exploration And Development

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  1. W&T Offshore approves 2017 capital budget of $125M

    The board of directors of W&T Offshore Inc. (NYSE: WTI) approved a 2017 capital expenditure budget of $125 million, excluding potential acquisitions. The company has also provided production and expense guidance for 2017 and expects total production in 2017 to be approximately 4% higher than the mid-point of the company's expected production in 2016. 2017 capital program W&T currently anticipates drilling six to eight wells during 2017 in the Gulf of Mexico in a program that is expected to be generally balanced between exploration and development projects and between wells located on the Shelf and in the Deepwater. The 2017 capital plan includes completing the Ship Shoal 349 "Mahogany" A-18 well, which was drilled to total depth in late 2016 and put on production in mid-January, and the drilling and completion of three additional wells in the Mahogany field.  Each of these projects is expected to achieve a rate of return in excess of 100%, with a relatively quick payback. The plan also includes the drilling and completion of two wells at the Ewing Bank 910 field, which are expected to average a rate of return in excess of 100%, with an average projected payout in approximately one year. Additionally, the 2017 plan includes performing between 20 and 25 recompletions at a cost of approximately $26 million. These recompletions on average are projected to have very good rates of return and short payback cycles.  Approximately two-thirds of the entire capital budget is directed at projects that will come on line and start producing in 2017.  

    Online Articles

    Online Articles

    Tue, 24 Jan 2017

  2. Oil and Gas: Study: Idaho natural gas and oil tax rates below many states

    Idaho's effective tax rate on natural gas and oil production is less than half the average when compared with eight other producing states, according to a tax-comparison study released Thursday.

    Online Articles

    Online Articles

    Sat, 21 Jan 2017

  3. Oil and Gas News: Genie Energy launches drilling services company in Israel

    Genie Energy Ltd. is establishing Atid Drilling Ltd., an onshore drilling services venture based in Israel. Atid will pursue drilling opportunities for clients in a variety of fields including oil and gas exploration, water resource development and mineral exploration.

    Online Articles

    Online Articles

    Fri, 13 Jan 2017

  4. Indonesia launches new PSC regime for E&P firms

    The Indonesian government has announced the beginning of a new production-sharing contract (PSC) regime that stipulates that exploration and production companies pay more of the overall costs of development and production, but gain a greater share of revenue.

    Online Articles

    Online Articles

    Wed, 25 Jan 2017

  1. Standardization could cut costs 30%, says IMCA official

    Online Articles

    Online Articles

    Wed, 28 Dec 2016

  2. BP to team with Kosmos on Mauritania, Senegal offshore blocks

    BP PLC will invest nearly $1 billion to partner with Kosmos Energy Ltd. for exploration and development of six blocks off West Africa.

    Online Articles

    Online Articles

    Mon, 19 Dec 2016

  3. Beach selects operations executives

    Beach Energy Ltd. has named a chief operating officer and a group executive of exploration and development .

    Online Articles

    Online Articles

    Mon, 28 Nov 2016

  4. Victoria government to place permanent ban on fracing

    Victorian Labor Premier Daniel Andrews has announced that his government will introduce a permanent ban on hydraulic fracturing and all exploration and development of unconventional gas throughout the state.

    Online Articles

    Online Articles

    Tue, 30 Aug 2016

  5. Wheatstone on track for first LNG in mid-2017

    Woodside Petroleum Ltd. has issued an update on its international exploration and development projects.

    Online Articles

    Online Articles

    Thu, 20 Oct 2016

  6. Victoria introduces legislation to ban gas fracing

    The Victorian government has introduced legislation into parliament to permanently ban hydraulic fracturing for coal seam gas and tight oil and gas resources throughout the state. The government also has moved to extend the moratorium on conventional onshore gas exploration and development until ...

    Online Articles

    Online Articles

    Tue, 22 Nov 2016

  7. McMoRan Exploration Co. updates exploration and development activities

    McMoRan Exploration Co. today updated its ultra-deep exploration and development activities in the shallow waters of the Gulf of Mexico Shelf and onshore in the Gulf Coast area.

    Online Articles

    Online Articles

    Thu, 5 Jan 2012

  8. MLPs to fund shale exploration and development : know your risks

    Master Limited Partnerships are an increasingly attractive structure for funding the significant investments required for the exploration and development of shale plays across the US. Record low interest rates and poor equity markets further enhanced their appeal in recent years. However, their ...

    Online Articles

    Online Articles

    Thu, 16 Aug 2012

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