Exploration & Production News
Latest exploration & production coverage from Oil Authority and industry sources
Oil Authority Analysis40 articles
Basra Oil Company Targets 3.4 Million BPD Recovery Within One Week as Ceasefire Opens Hormuz Window, Rumaila Field Collapsed to 30 Percent Capacity
Iraq's Basra Oil Company says it can restore 3.4 million BPD within one week if Hormuz stays open. Rumaila field has collapsed 70 percent to 400,000 BPD.
BP CEO Meg O'Neill Unveils Upstream-Downstream Restructuring, Reversing 2020 Green Pivot Under Elliott Management Pressure
BP CEO Meg O'Neill is simplifying the oil major into two units, reversing its 2020 green pivot as Elliott Management pushes a back-to-basics reset.
Permian Basin Oil Output Hits 7.12 Million BPD as Baker Hughes US Rig Count Drops to 545, Down 7 Percent Year Over Year
The Permian Basin hit 7.12 million BPD this week, 54.8% of US output, as Baker Hughes US rigs fell to 545, down 7% from a year ago. WTI near $91.
Occidental, Chevron and Woodside Confirm Bandit Oil Discovery at Green Canyon 680; Petrobras and BP Strike Pre-Salt Hydrocarbons 201 km Off Rio de Janeiro
Occidental, Chevron and Woodside confirm Bandit oil at Green Canyon 680; Petrobras and BP strike pre-salt hydrocarbons 201 km off Rio de Janeiro.
Baker Hughes US Rig Count Falls to 545 for Third Decline in Four Weeks, Permian Holds at 241 Active Rigs
Baker Hughes US Rig Count plunges to 545 for Third slides in Four Weeks, Permian Holds at 241 Active Rigs. Miscellaneous rigs remained at seven.
TotalEnergies Confirms Near 100 Million Barrel Moho G Discovery Offshore Republic of Congo, Plans Likouf Tie-Back
TotalEnergies Confirms Near 100M Barrel Moho G Discovery Offshore Republic of Congo, Plans Likouf Tie-Back. This discovery validates that strategy.
Suncor Energy Targets 960,000 BPD by 2028, Fort Hills Autonomous Haulage and Firebag Stages 5 and 6 Drive 100,000 BPD Growth
Suncor Energy Targets 960,000 BPD by 2028, Fort Hills Autonomous Haulage and Firebag Stages 5 and 6 Drive 100,000 BPD Growth.
Valeura Energy Reports 22,300 BPD Q1 2026 Production From Gulf of Thailand Fields, Acquires Manora Princess FSO for US$15.5 Million
Valeura Energy Reports 22,300 BPD Q1 2026 Production From Gulf of Thailand Fields, Acquires Manora Princess FSO for US$15.5M.
Saudi Aramco Restores East-West Pipeline to Full 7 Million BPD Capacity as Khurais Oil Field Recovery Continues
Saudi Aramco Restores East-West Pipeline to Full 7M BPD Capacity as Khurais Oil Field Recovery Continues. WTI crude held near $96.57 per barrel.
Canadian Natural Resources Targets Record 1.6 Million BOE Per Day in 2026 as Albian Oil Sands Mines Reach Full Capacity
Canadian Natural Resources Targets Record 1.6M BOE Per Day in 2026 as Albian Oil Sands Mines Reach Full Capacity.
Cenovus Energy Targets 780,000 BPD Oil Sands Output in 2026, Christina Lake North Expansion on Track After MEG Close
Cenovus Energy Targets 780,000 BPD Oil Sands Output in 2026, Christina Lake North Expansion on Track After MEG Close.
Suncor Energy Targets 100,000 BPD Production Growth and $5 Per Barrel Cost Reduction by 2028
Suncor Energy Targets 100,000 BPD Production Growth and $5 Per Barrel Cost Reduction by 2028. Calgary-based Suncor Energy unveiled an ambitious three-year.
Eni and BP Announce 2 Tcf Gas Discovery at Temsah Concession Offshore Egypt
Eni and BP Announce 2 Tcf Gas Discovery at Temsah Concession Offshore Egypt. BP holds the remaining 50%.
Vermilion Energy Reports Q1 2026 Production of 125,000 BOE per Day, Doubles German Acreage With New Concessions
Vermilion Energy Reports Q1 2026 Production of 125,000 BOE per Day, Doubles German Acreage With New Concessions.
USGS Discovers 1.6 Billion Barrels of Recoverable Oil in Permian Basin Woodford and Barnett Shales
The U.S. Geological Survey has released a landmark assessment revealing 1.6 billion barrels of technically recoverable oil and 28.3 trillion cubic feet of na...
Imperial Oil Targets 295,000 Barrels per Day at Kearl as Trans Mountain Expansion Opens Pacific Market Access
Imperial Oil Targets 295,000 bpd at Kearl as Trans Mountain Expansion Opens Pacific Market Access. Imperial Oil is pushing its flagship Kearl oil sands mine.
Cenovus Energy Targets 985,000 BOE per Day in 2026 as MEG Energy Integration Unlocks $400 Million in Synergies
Cenovus Energy Targets 985,000 BOE per Day in 2026 as MEG Energy Integration Unlocks $400M in Synergies. The bigger prize lies further out.
Canadian Natural Resources Defers $8.25 Billion Jackpine Oil Sands Expansion Over Carbon Policy Uncertainty
Canadian Natural Resources Defers $8.25B Jackpine Oil Sands Expansion Over Carbon Policy Uncertainty.
ExxonMobil Targets 1.8 Million Barrels Per Day in Permian Basin for 2026 After Record Q4 Output
ExxonMobil Targets 1.8M bpd in Permian Basin for 2026 After Record Q4 Output. Brent crude fell to $94.80.
Suncor Energy Unveils CAD 13 Billion In Situ Growth Plan, Raises Buybacks to CAD 4.2 Billion for 2026
Suncor Energy Unveils CAD 13B In Situ Growth Plan, Raises Buybacks to CAD 4.2B for 2026. At US$80 WTI, that figure rises to more than CAD 50B.
TPAO Drillship Cagir Bey Begins Somalia Curad-1 Well, Horn of Africa Debut Targets 30 to 40 Billion Barrels in Frontier Offshore Basin
TPAO Drillship Cagir Bey Begins Somalia Curad-1 Well, Horn of Africa Debut Targets 30 to 40B Barrels in Frontier Offshore Basin.
Eni and BP Strike 2 Tcf Gas Discovery Offshore Egypt in Temsah Concession, Denise W-1 Well Confirms Eastern Mediterranean Potential
Eni and BP Strike 2 Tcf Gas Discovery Offshore Egypt in Temsah Concession, Denise W-1 Well Confirms Eastern Mediterranean Potential.
Devon Energy and Coterra Energy Merge in $58 Billion All-Stock Deal Creating 1.6 Million BOE Per Day Permian Basin Giant
Devon Energy and Coterra Energy Merge in $58B All-Stock Deal Creating 1.6M BOE Per Day Permian Basin Giant.
Canadian Natural Resources Defers $8.25 Billion Jackpine Oil Sands Mine Expansion as Carbon Policy Deadlock Stalls Alberta Investment
Canadian Natural Resources Defers $8.25B Jackpine Oil Sands Mine Expansion as Carbon Policy Deadlock Stalls Alberta Investment.
USGS Identifies 1.6 Billion Barrels of Undiscovered Oil in Permian Basin Woodford and Barnett Deep Shale Formations
USGS Identifies 1.6B Barrels of Undiscovered Oil in Permian Basin Woodford and Barnett Deep Shale Formations.
Cenovus Energy Targets 985,000 BOE Per Day in 2026 as Christina Lake North Expansion Advances After MEG Energy Acquisition
Cenovus Energy Targets 985,000 BOE Per Day in 2026 as Christina Lake North Expansion Advances After MEG Energy Acquisition.
Equinor Brings Frida Kahlo Gas Discovery Onstream at Sleipner in April 2026, Adding Up to 9 Million BOE to North Sea Portfolio
Equinor Brings Frida Kahlo Gas Discovery Onstream at Sleipner in April 2026, Adding Up to 9M BOE to North Sea Portfolio.
Canadian Natural Resources Closes $765 Million Acquisition of Tourmaline Peace River High Assets, Adding 26,000 BOE/d of NGL-Rich Alberta Production
Canadian Natural Resources Closes $765M Acquisition of Tourmaline Peace River High Assets, Adding 26,000 BOE/d of NGL-Rich Alberta Production.
Suncor Plans 100,000 bpd Production Growth as Trans Mountain Hits Full Capacity and LNG Canada Awards Phase 2 Engineering Contract
Suncor Plans 100,000 bpd Production Growth as Trans Mountain Hits Full Capacity and LNG Canada Awards Phase 2 Engineering Contract.
Suncor Energy Targets 960,000 BOE Per Day by 2028 with Fort Hills Autonomous Haul Systems and Firebag Stages 5 and 6 Expansions
Suncor Energy Targets 960,000 BOE Per Day by 2028 with Fort Hills Autonomous Haul Systems and Firebag Stages 5 and 6 Expansions.
Canadian Natural Resources Posts Record Q4 2025 Output of 1.66 Million BOE/d as Sole Owner of Albian Oil Sands Mines
Canadian Natural Resources Posts Record Q4 2025 Output of 1.66M BOE/d as Sole Owner of Albian Oil Sands Mines.
Alberta Synthetic Crude Swings to $19.25 Premium Over WTI as Middle East War Chokes Global Diesel Supply, Suncor and Imperial Oil Eye Windfall
Alberta Synthetic Crude Swings to $19.25 Premium Over WTI as Middle East War Chokes Global Diesel Supply, Suncor and Imperial Oil Eye Windfall.
Chevron Takes FID on Aseng Gas Monetization Project Offshore Equatorial Guinea as GEPetrol Stake Rises to 32.55 Percent
Chevron Takes FID on Aseng Gas Monetization Project Offshore Equatorial Guinea as GEPetrol Stake Rises to 32.55 Percent.
Chevron Hits Historic 1 Million BOE Per Day in the Permian Basin as Capital Discipline and WTI Above $102 Deliver 23 Percent Stock Gain in 2026
Chevron Hits Historic 1M BOE Per Day in the Permian Basin as Capital Discipline and WTI Above $102 Deliver 23 Percent Stock Gain in 2026.
Cenovus Energy Approaches 1 Million BOE Per Day as MEG Energy Integration and WTI Above $100 Fuel Record Alberta Revenue
Cenovus Energy Approaches 1M BOE Per Day as MEG Energy Integration and WTI Above $100 Fuel Record Alberta Revenue. Midwest and Gulf Coast refineries.
CNRL Targets Record 1.6 Million BOE/Day in 2026 as WCS Differential Widens to $15 Below WTI
Canadian Natural Resources Limited (CNRL) is on track to post the highest production figures in its history in 2026, targeting a record 1.6 million barrels o...
Western Canadian Operators Report Record Q1 Production as Pipeline Capacity Expands
Canadian Natural Resources, Cenovus Energy, and Suncor report combined production exceeding 4.2 million barrels per day equivalent as Trans Mountain Expansio...
Canada Is Back in the Energy Business: Minister Hodgson Launches Nova Scotia Offshore Bid at CERAWeek as Team Canada Courts Global Investors
Canada Is Back in the Energy Business: Minister Hodgson Launches Nova Scotia Offshore Bid at CERAWeek as Team Canada Courts Global Investors.
Norway's Equinor Greenlights $4.7B Johan Castberg Phase 2 in Barents Sea
Equinor and partners have sanctioned the $4.7-billion second phase of the Johan Castberg field in the Norwegian Barents Sea, adding 200 million barrels of re...
Suncor Energy Posts Record Q1 Free Cash Flow, Announces $2.5B Shareholder Return
Suncor Energy Posts Record Q1 Free Cash Flow, Announces $2.5B Shareholder Return. Full Q1 results are expected on April 29.