Two exploration wells drilled by Repsol SA and Armstrong Energy LLC—Horseshoe 1 and the 1A sidetrack—have extended the Nanushuk play more than 20 miles south of the existing discoveries in the same interval in Alaska North Slope’s Pikka Unit. Source: News
Buru to restart Ungani oil field onshore Western Australia
Buru Energy Ltd., Perth, has restarted production from Ungani oil field in the onshore Canning basin south of Broome in Western Australia. Source: News
MARKET WATCH: NYMEX crude oil prices drop back below $50/bbl
Light, sweet crude oil prices settled below $50/bbl on Mar. 9 for the first time since December after members of the Organization of Petroleum Exporting Countries and other major producers struck a deal to curb oil output. Source: News
BOEM releases final multi-sale EIS for 2017-22 gulf lease sales
The US Bureau of Ocean Energy Management released the final multi-sale environmental impact statement for Gulf of Mexico oil and gas lease sales it has scheduled for 2017-22. The 10 scheduled sales will be in BOEM’s western and central planning areas and in part of its eastern planning area. Source: News
CERAWeek: Permian persistence, no debt keys to Sheffields’ success
Lessons passed down from Permian pioneer Joe M. Parsley to his son Scott Sheffield and then to his son Bryan Sheffield hold true to any US onshore operator outside of their lineage. Source: News
ExxonMobil to spend $20 billion for US Gulf Coast downstream expansions
ExxonMobil Corp. will invest $20 billion over a 10-year period to expanding its chemical manufacturing capacity along the US Gulf Coast to support increased exports to overseas markets. Source: News
Marathon Oil to buy Permian acreage for $1.1 billion
Marathon Oil Corp. has agreed to acquire 70,000 net surface acres in the Permian basin from BC Operating Inc., Midland, Tex., and other entities for $1.1 billion in cash. Source: News
ExxonMobil to acquire interest in Mozambique Area 4 from Eni
ExxonMobil Corp. and Eni SPA have signed a sale and purchase agreement to enable ExxonMobil to acquire from Eni a 25% indirect interest in the natural gas-rich Area 4 block offshore Mozambique. Source: News
Macquarie Group enters new play for Central Petroleum
Macquarie Group, Sydney, is ready to increase its bid for 100% of Brisbane-based independent Central Petroleum Ltd. Source: News
Premier Oil lets contract for subsea work offshore Indonesia
Premier Oil PLC has let a contract to Global energy service provider Proserv for the supply of a subsea control system for the Bison-Iguana-Gajah Puteri field development in the Natuna Sea offshore Indonesia. Source: News