Falcon’s partner Origin Energy will complete a nine well exploration and appraisal programme, if the moratorium is lifted.
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Exxon’s stock was 1% higher changing hands at US$82.07, similarly, Chevron also gained 1% to US$106.56.
The group said it had been boosted by construction business in onshore US but customer spending in the Gulf of Mexico had dwindled.
Essel Group Middle East DMCC will take a 60% stake in Simba’s African exploration projects
Green light or fracking ban: Falcon has had great success but the future is binary (and politically charged).
Boss Paal Kibsgaard seemed resigned to a continuation of depressed levels of exploration but said several key non-OPEC countries are quickly exhausting their proven reserves of hydrocarbons
Octant has completed its pivotal acquisition of Kenyan assets from the former Afren Plc
The energy firm has launched a study to assess the merits of a multibillion-dollar expansion in Australia
Evaluation work is now underway towards an estimate of recoverable resources for the gas discovery in the Abu Madi prospect, and further drilling will deepen down to oil targets.
Gas was found in the Abu Madi target, as predicted, and the well will continue down to deeper oil targets.
The New York-listed firm is to sell its assets in the San Juan Basin, located in northwestern New Mexico and southwestern Colorado, to an affiliate of privately-owned Hilcorp Energy Co.
The agreement with NOCAL sees Simba issued with a new licence, which expands the latter's acreage to 2,961.7 sq km.
The deal is with the Canadian subsidiary of Transerv Energy Ltd..
President Mauricio Macri has done much to improve the business climate..
Offshore rig firm SeaDrill laid bare the problems besetting the global oil industry
The company is committed to pursue the generation of positive returns for shareholders while pursuing growt
DuPont has pushed back the completion date of its merger with Dow Chemicals for the third time as it sells assets to get the green light from Brussels
Exxon has now made its third discovery in the acreage next door to Eco's acreage offshore Guyana.
AER is an LED replacement installer for large commercial buildings and healthcare facilities.
ConocoPhillips said it has agreed to sell oil sands and western Canadian natural gas assets to Toronto-listed Cenovus Energy Inc for C$17.7 bn (US$13.3 bn)
Two of the biggest and oldest US chemical producers have agreed to sell a significant chunk of assets to address competition concerns as part of their merger
The Carlyle Group has bought Royal Dutch Shell's Gabon oil and gas assets as the private equity fund expands in the sector
The US State Department said it had found the project, which was blocked by former US president Barack Obama, to be in the US national interest.
"I am pleased to report on the solid progress that was made throughout 2016, with high levels of activity across the entire portfolio,” said Paul Welch.
Analyst Bill Newman has run the rule over Point Loma Resources and Prairie Provident Resources