Deep potential confirmed in far-north Russia

A joint venture of Rosneft and Gazprom Neft has confirmed the potential of deep strata in Vostochno-Messoyakhskoye oil field in northern Yamalo-Netets Autonomous Okrug of Russia, 340 km north of Novy Urengoy.  Source: News

Chevron reports annual earnings of $9.2 billion

Chevron Corp. reported earnings of $3.1 billion for fourth-quarter 2017 compared with $415 million in fourth-quarter 2016. Included in the quarter were noncash provisional tax benefits of $2.02 billion related to US tax reform and a noncash charge of $190 million related to a former mining asset. Source: News

Three VPs to lead key Laredo functions

James R. Courtier, Jason R. Greenwald, and Mark H. Elliott will jointly assume leadership of Laredo Petroleum Inc.’s exploration, development, and land initiatives as Patrick J. Curth, senior vice-president—exploration and land, becomes a senior advisor before retiring in March. Source: News

Kosmos’ Requin Tigre-1 well offshore Senegal comes up dry

Kosmos Energy, Dallas, continues to evaluate oil prospects across Mauritania and Senegal ahead of the next phase of exploration offshore the two countries despite results of its latest exploration well. Source: News

MARKET WATCH: NYMEX, Brent oil prices drop as equity markets fall

Light, sweet crude oil prices for March delivery dropped more than $1/bbl Feb. 5 on the New York market and the Brent contract for April fell by nearly $1/bbl on the London market, which analysts attributed to plunges in world stock markets. Source: News