Despite previous comments that there was no commercial oil available in Paraguay's soil, President Energy is to drill its third well in the Chaco region, it was announced Thursday.
Uruguay's oil refining and fuel distribution company Ancap announced on Friday that three blocks and exploration licenses in the country's maritime shelf had been awarded. Two of them were acquired by Shell and the third by Apache Corporation, including an exploratory well, in the framework of the Open Uruguay Round.
Borders & Southern Petroleum PLC said on Friday that it intends to conduct fundraising of up to US$1.8 million to appraise and develop its Darwin gas and condensate discovery in the Falkland Islands.
More oil reserves discovered in Guyana, Canada's CGX Energy reported that together with parent Frontera Energy discovered an oil and gas reservoir off the coast of Guyana and anticipated drilling on a second well could begin later this year.
The Hess Exploration company is betting strongly in the opportunities of its Guyana operations. With a 30% interest in the Stabroek Block, it has allotted more than 80% of its capital and exploratory budget of US$1.9 billion for 2021 to its offshore blocks.
Norwegian oil and gas exploration seismic data company PGS has signed an agreement with Uruguay's state oil company ANCAP to reprocess over 11 000 km of existing 2D lines of various vintages, applying the latest seismic imaging techniques.
ExxonMobil today announced its 16 discovery in the Stabroek Block, located off the Guyanese coastline. The Texas-based company announced that it encountered 29 meters of high-quality oil-bearing sandstone at the Uaru well.
Apache Corp and Total SA announced they had made a major oil discovery in a closely watched area off the coast of South America’s Suriname, sending Apache’s shares surging nearly 27%.
Rockhopper Exploration PLC said on Monday that the Falkland Islands government has extended the duration of the PL032 Discovery Area License until May 1, 2021, with no additional license commitments.
Hess Corp's first oil in Guyana, where it is a partner in the crude-rich ExxonMobil-led Stabroek offshore block, will be in December, ahead of the previously stated Q1 2020 date, a top company executive said on Friday.