On April 14, 2025 BP announced an oil discovery at the Far South prospect in the deepwater U.S. Gulf of Mexico, drilled in Green Canyon Block 584, about 120 miles off Louisiana’s coast. The well, reaching a depth of 23,830 feet, encountered high-quality Miocene reservoirs with preliminary data indicating commercially viable hydrocarbons. BP operates the project with a 57.5% stake, alongside Chevron (42.5%). This discovery reinforces BP’s commitment to expanding its upstream portfolio, aligning with its 2025 strategy reset.

Andy Krieger, BP’s Senior Vice President for the Gulf of Mexico and Canada, highlighted the region’s growth potential, with plans to boost production capacity to over 400,000 barrels of oil equivalent per day (boed) by 2030. Globally, BP aims to increase upstream output to 2.3–2.5 million boed by 2030, with nearly half coming from U.S. onshore and offshore assets. The Far South discovery supports BP’s strategy to deliver reliable, affordable energy while sustaining long-term production growth.

Visit: https://worldoil.com/news/2025/4/14/bp-discovers-oil-at-far-south-prospect-deepwater-u-s-gulf/

On April 15, 2025, TotalEnergies signed a 20-year Sales and Purchase Agreement (SPA) with NextDecade to buy 1.5 million tons per annum (Mtpa) of LNG from Train 4 at the Rio Grande LNG facility, pending a Final Investment Decision (FID). The deal strengthens TotalEnergies' position as a leading U.S. LNG exporter and supports NextDecade’s financing efforts for Train 4. Gregory Joffroy, TotalEnergies' Senior Vice President LNG, highlighted the agreement as a key step in securing competitive supply for customers.

TotalEnergies, which already holds a 16.7% stake in Rio Grande LNG’s first phase (three trains under construction), will purchase 5.4 Mtpa from Phase 1, set to begin operations in 2027. Additionally, the company owns a 17.5% stake in NextDecade, Rio Grande’s operator. NextDecade’s CEO, Matt Schatzman, stated that the SPA completes Train 4’s commercial backing, paving the way for FID and further solidifying the partnership with TotalEnergies.

Visit:https://worldoil.com/news/2025/4/15/totalenergies-signs-20-year-lng-purchase-agreement-with-nextdecade/

On April 16, 2025 Vista Energy acquired Petronas' 50% stake in the Vaca Muerta shale basin for 900 million in cash, $300 million in deferred payments, and 7.3 million American Depositary Shares. The La Amarga Chica (LACh) block, spanning 46,594 acres, currently has 247 producing wells and 280 million barrels of oil equivalent (MMboe) in P1 reserves. Vista estimates the block could hold 400 new well locations, complementing its existing operations. In Q4 2024, LACh produced 79,543 barrels of oil equivalent per day (boed), with 71,471 barrels per day (bpd) being oil. The remaining 50% stake is held by operator YPF S.A.

Miguel Galuccio, Vista’s Chairman and CEO, stated that the acquisition enhances the company's scale in Vaca Muerta, offering growing production, low operating costs, and strong free cash flow potential. He emphasized the block's high margins, low breakeven costs, and synergy with Vista’s existing operations, aligning with a long-term bullish outlook on oil demand. Galuccio highlighted the deal as a strategic move to create sustained shareholder value while capitalizing on premium assets in the region.

Visit:https://worldoil.com/news/2025/4/16/vista-buys-petronas-argentina-oil-stake-in-1-5-billion-deal/ 

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