Did you know that there are 5,200 oil and gas wells strung out below the busy streets of Los Angeles? Forget for a moment the glitzy Hollywood Hills or the J Paul Getty Museum, this is an oilman’s urban nirvana – or was.
From the 16th-century Spanish conquistadors to modern times, Mexico has been bound to oil. Although no longer in the top ten of the world’s leading producers, shale gas may change this picture in the future.
The Biden–Harris administration is continuing its comprehensive review of the offshore and onshore oil and gas leasing programmes in the Gulf of Mexico, with more environmental, social and governance (ESG) pressure expected to be applied on hydrocarbon explorers.
The combination of existing OBN technology, innovative survey design, and DM-FWI technology is a real step-change in high-resolution model building for oil and gas exploration, from the shallow to the deep, as proven in this recent acquisition survey in the Gulf of Mexico.
Exploration for critical minerals in sedimentary rocks and basins is rapidly growing in the US as the country seeks to decrease its dependency on China, which has been the dominant exporter of critical minerals in the past three decades.
Last year, the North American E&P community saw a symbolic negative oil price blink, rig counts and production rates plummeting, a new US administration slapping
moratoriums on federal land and waters while appointing ‘greens’ to high positions. All in all, an upstream world turned upside down.