Jaxon Caines

United States

Technology Reporter at Hart Energy

Featured in: Favicon

hartenergy.com Favicon

yahoo.com (+1) Favicon

chron.com

spe.org

jpt.spe.org

Articles

E&P Notes: June 2025

1 week ago | jpt.spe.org | Jaxon Caines

Shell Increases Working Interest in the Ursa PlatformShell has upped its stake in the Ursa platform in the US Gulf of Mexico from approximately 45 to 61%. The acquisition completes a previously announced agreement with ConocoPhillips and is part of Shell’s strategy to invest in profitable and carbon-competitive oil and gas projects with a strong integrated value chain. Shell is the operator of the Ursa tension-leg platform (TLP) with BP Exploration & Production Inc.
Petrobras’ Plans for Brazil’s Production Plight

1 week ago | jpt.spe.org | Jaxon Caines

At this year’s Offshore Technology Conference (OTC), industry representatives from Brazil took to the stage and podium, laying out how the country will hit expansion targets while managing an aging infrastructure that’s quickly becoming a liability.
With Pressure Rising, Texas Regulators Stiffen Disposal Well Guidelines

1 week ago | jpt.spe.org | Jaxon Caines

The Texas Railroad Commission (RRC), the state's oil and gas industry regulator, has tightened its permitting requirements for saltwater disposal wells (SWDs) in the Permian Basin. The changes aim to ensure that “injected fluids remain confined to the disposal formations to safeguard ground and surface fresh water,” the RRC said in an announcement this month.
BP Ousts Strategy Chief Amid 48% Profit Plunge and Activist Investor Pressure, Accelerates Pivot Back to Oil

1 month ago | jpt.spe.org | Jaxon Caines

After enduring financial struggles to start the year, including a 48% drop in net profit, BP is making some changes, the company announced in its first-quarter earnings call. A significant change for the British supermajor is the ousting of Executive Vice President of Strategy, Sustainability, and Ventures, Giulia Chierchia, who will step down on 1 June and will not be replaced.
E&P Notes: May 2025

1 month ago | jpt.spe.org | Jaxon Caines

Phase 2 of the Baleine Project Boosts Côte d'Ivoire's Gas Volumes Eni and Petroci announced a major boost in gas volumes from the Baleine upstream project to support power generation in Côte d’Ivoire. Launched in December 2024 on schedule and with full safety measures, Baleine is the first net-zero upstream project (Scope 1 and 2) in Africa. Phase 2 of the project was aimed at strengthening the country’s energy sector and industrial growth, while also improving energy access.
US Shale Sector Embraces Rise of the ‘G-Fleet’

1 month ago | jpt.spe.org | Jaxon Caines

The oil and gas industry is undergoing a revolution—an electric revolution. Driven by efficiency gains, cost savings, and reduced emissions, one area in which the transformation is clearly evident is the US onshore fracturing sector. Interestingly enough, the fuel supporting this transition has been right under the industry’s nose all along: natural gas.
Report Finds Upstream Salaries on the Rise Along With Renewed Workforce Pressures

1 month ago | jpt.spe.org | Jaxon Caines

The oil and gas industry continues to grapple with both longstanding and emerging workforce challenges, but a “healthy level of optimism and opportunities for career development” remains, according to the 2025 Global Energy Talent Index (GETI). The annual report, which surveys professionals across the upstream and downstream sectors, highlights several trends that have shaped the talent landscape over the past 5 years.
Fourth FPSO Arrives in Guyana's Massive Stabroek Block

1 month ago | jpt.spe.org | Jaxon Caines

The ONE Guyana floating production, storage and offloading (FPSO) has arrived in Guyana’s Stabroek block, in preparation to begin operations in the ExxonMobil-operated Yellowtail field. The vessel joins the Liza Destiny, Liza Unity, and Prosperity as the fourth FPSO in Guyana's most prolific block, which is home to more than 11 billion bbl of recoverable oil.
High US Tariffs Could Bring Lower Global Oil Prices

1 month ago | jpt.spe.org | Jaxon Caines

After its supply and price forecasts in March, the US Energy Information Administration (EIA) was forced to rerun its models by the announcement of historic tariffs on most of the world by the US. The EIA came back with another report on 10 April, forecasting Brent crude will average $68/bbl this year and $61/bbl next year—a drop of $6 and $7, respectively, from the prior forecast.
Eni To Invest $26 Billion Across North Africa

1 month ago | jpt.spe.org | Jaxon Caines

In an effort to boost energy production, Italian energy group Eni will invest around $26.24 billion in energy projects across Algeria, Libya, and Egypt over the next 4 years, CEO Claduio Descalzi said on 8 April at an energy conference in Ravenna, Italy, according to Reuters. While the three north African countries could play an important role as hydrocarbon suppliers for Europe, they need greater outside investment to expand their energy output and meet rising domestic demand, said Descalzi.