Total Finds Oil and More

Here are some of Rigzone's top upstream stories during the last week, just in case you missed them…

Total Makes Significant Oil Find 

Total revealed that it and Apache Corporation had made a “significant” new oil and gas discovery at the Keskesi East-1 well in Block 58 off the coast of Suriname. The well was drilled at a water depth of about 2,380 feet and was said to have encountered a total of 206 feet of hydrocarbons.

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Oil Discovery Made in US Gulf of Mexico

Kosmos Energy announced an oil discovery in the U.S. Gulf of Mexico at the Winterfell infrastructure-led exploration well. The well was said to have encountered approximately 85 feet of net oil pay in two intervals.

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ConocoPhillips Acquires Concho

ConocoPhillips completed its acquisition of Concho Resources, with shareholders of both firms having approved the combination. According to a fact sheet on ConocoPhillips’ website, the transaction creates an approximately $60 billion company.

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Total Drops API Membership

Total has decided not to renew its membership in the American Petroleum Institute (API) for 2021. The Total Group each year evaluates the main industry associations of which it is a member based on their alignment with the company’s climate positions.

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Shell Reshapes Malaysia Business

Shell announced that its Malaysia business will be implementing changes to ensure that the company thrives through the energy transition and becomes a simpler organization. The largest impact will be felt in the upstream segment, which will reduce between 250 and 300 jobs. 

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How Quickly Will US Fossil Fuel Output Rebound? 

One of Rigzone’s regular market-watchers anticipates a different production recovery time frame from the U.S. Energy Information Administration.

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To contact the author, email andreas.exarheas@rigzone.com