Jaxon Caines

United States

Technology Reporter at Hart Energy

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Articles

Eni To Invest $26 Billion Across North Africa

2 weeks 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.
Aramco Eyes 2027 Start for Drone Inspections Under MOU With Terra Drone

2 weeks ago | jpt.spe.org | Jaxon Caines

Terra Drone Corporation signed a memorandum of understanding (MOU) with Saudi Aramco that may see the Japanese drone maker run test inspections of the oil giant's facilities in Saudi Arabia. The companies said the goal of the MOU is to enhance collaboration between Terra Drone and Aramco and advance drone technologies for improved safety and efficiency in the energy sector.
SLB Receives Nabs Deepwater Drilling Contract for Woodside's Trion

3 weeks ago | jpt.spe.org | Jaxon Caines

Woodside Energy announced on 31 March that is has awarded SLB a major drilling contract on its ultradeepwater Trion development projectoffshore Mexico. The 3-year contract includes digital directional drilling services along with the hardware to support logging while drilling, surface logging, cementing, and other drilling and completions operations for 18 ultradeepwater wells.
E&P Notes: April 2025

3 weeks ago | jpt.spe.org | Jaxon Caines

ConocoPhillips To Sell Interests in Ursa and Europa FieldsConocoPhillips agreed to sell its interests in the Ursa and Europa fields in the Gulf of Mexico, as well as its interests in the Ursa Oil Pipeline Company LLC to Shell for $735 million. “The acquisition expands our ownership in an established long-producing asset that generates robust free cash flow, while also providing more options for growth," said Zoë Yujnovich, Shell's integrated gas and director at the time of the announcement.
Repsol and NEO Energy To Merge UK North Sea Upstream Businesses

3 weeks ago | jpt.spe.org | Jaxon Caines

Repsol and NEO Energy have agreed to merge their upstream businesses in the UK North Sea, creating a joint venture called NEO NEXT Energy. The combined group will be renamed NEO NEXT Energy Ltd. and is expected to become one of the largest independent producers in the North Sea, combining the asset portfolios of both companies and generating cashflows that are expected to exceed $1 billion.
DNO Makes Discovery at Kjøttkake Well

3 weeks ago | jpt.spe.org | Jaxon Caines

Norwegian oil and gas operator DNO ASA said it made a major discovery at its Kjøttkake exploration well in the North Sea, with preliminary estimates of gross recoverable resources in the range of 39 to 75 million BOE. “We are on a hot streak in Norway,” said Executive Chairman Bijan Mossavar-Rahmani.
Trump Signs New Law To Block US Methane Fee

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

US President Donald Trump signed into law the Congressional Review Act, which aims to block the implementation of a fee on oil and gas companies for excess methane emissions. The methane fee was part of the Inflation Reduction Act (IRA), passed under former President Joe Biden's administration in 2022. The fee, known as Waste Emissions Charge (WEC), was authorized by the IRA and was to be enforced by the Environmental Protection Agency (EPA) beginning in November 2024.
'Reality' at the Forefront of CERAWeek 2025

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

In the wake of the new US administration and a series of executive orders, the oil and gas industry has shifted its focus away from the energy transition and toward increased oil production. “We are unabashedly pursuing a policy of more American energy production and infrastructure, not less,” newly appointed US Secretary of Energy Chris Wright said in the opening plenary talk of CERAWeek by S&P Global.
Mero Becomes Petrobras' Third Field To Reach 500,000 B/D

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

Petrobras announced this week that crude output from its deepwater Mero field reached 500,000 B/D. The milestone, reached on 28 February, makes Mero the Brazilian national oil company’s third pre-salt field to reach the milestone figure after the larger Tupi and Búzios projects. Petrobras said 81% of its production comes from these pre-salt fields in the Santos Basin. The Mero development began production in 2017 and now includes four floating production, storage, and offloading (FPSO) units.
BP Transitions Back, Ramps Up Oil and Gas Spending

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

It was 5 years ago this February, BP became the first supermajor to commit to net-zero emissions by 2050 or sooner. In fact, the London-based oil and gas giant went even further, announcing plans to cut oil and gas production by 40% compared with 2019 levels. This pledge came under former CEO Bernard Looney, who resigned in 2023. He was succeeded early last year by Murray Auchincloss, who is now steering the company's latest energy transition—this time back toward oil and gas production growth.