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Petrobras has signed an extension of the concession contracts for the Marlim and Voador fields with the National Petroleum Agency (ANP) until 2052. The Production Phase of the field was extended in line with Resolution 2/2016 issued by the National Energy Policy Council (CNPE), which authorized the Agency to extend…
It does not necessarily reflect the views of Rigzone. If you spent a few hours stopping people on the street and asking whether or not they like the oil industry, chances are you wouldn’t find many folks who are huge fans. A recent Gallup poll confirms this with numbers showing…
Oil has been surging this week but Goldman Sachs is calling for gains to be short-lived. The front-month West Texas Intermediate futures contract enjoyed a double-digit advance in recent days, breaking above $50/bbl on Thursday for the first time since July: "While this rally has occurred alongside a broader re-risking…
The high-growth business models of the U.S. Independents are being tested by low oil prices and tougher access to capital. Two recent Wood Mackenzie reports conclude that concerns surrounding October reserves-based-lending (RBL) redeterminations have been exaggerated. Wood Mackenzie’s Corporate Service Insight, US Independents: How strong, for how long?, examines the…
New editions of API’s hydraulic fracturing standards provide the latest technical direction for operators working to continuously improve well integrity, groundwater protection and environmental safety. Last updated in 2011, API’s standards for shale development have worked alongside robust state regulations to ensure safe and responsible energy development with hydraulic fracturing…
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