IHS Markit: US gas production to rise 60% in next 20 years

IHS Markit expects US natural gas production to rise almost 8 bcfd—more than 10%—this year and by another 60% over the next 20 years, according to a recent report, The Shale Gale Turns 10: A Powerful Wind at America’s Back. IHS Markit also now estimates that about 1,250 tcf of US supply is economic at […]

ExxonMobil unit makes eighth oil discovery offshore Guyana

ExxonMobil Corp. affiliate Esso Exploration & Production Guyana Ltd. encountered 265 ft of high-quality, oil-bearing sandstone following the drilling of the Longtail-1 well offshore Guyana, creating potential for additional resource development in the southeast area of the Stabroek block. Source: News

EIA: US crude stockpiles decrease 5.9 million bbl

US crude oil inventories, excluding the Strategic Petroleum Reserve, decreased 5.9 million bbl for the week ended June 15, according to US Energy Information Administration data. At 426.5 million bbl, US crude oil inventories are 2% below the 5-year average for this time of year, the Weekly Petroleum Status Report indicated. Source: News

INA to own 100% of gas fields off Croatia

INA, Zagreb, has agreed to buy Eni Croatia BV and become 100% owner and sole operator of Northern Adriatic and Marica area gas fields offshore Croatia, reports MOL Group of Budapest, which owns 49.1% of the buyer. Source: News

Vaalco returns Avouma 2H well to production offshore Gabon

Vaalco Energy Inc. has completed workover operations and replaced an electrical submersible pump (ESP) on the Avouma 2H well offshore Gabon on Block P. The well is producing at higher rates than before it was shut down. Source: News