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Buccaneer Energy seeks approval to boost Texas oil output by up to 1 million barrels via waterflooding.
Buccaneer Energy plans to increase oil output at Texas’s Pine Mills field using a waterflood scheme, targeting 667,000 to 1 million additional barrels.
The project, pending Texas Railroad Commission approval, will use existing wells for water injection to boost reservoir pressure and recovery rates, building on over 50 years of waterflooding in the region.
Meanwhile, BW Energy is acquiring stakes in two deep-water Angola blocks from Azule Energy, marking its entry into West Africa with an expected 2026 closing.
The deal includes potential additional payments tied to oil prices and production.
In China, CNOOC has launched full secondary production at the Liuhua Oilfield, raising output to 3,900 tonnes daily, while advancing another project in the Beibu Gulf Basin aimed at peak production of 16,900 barrels per day by 2026.
Buccaneer Energy busca la aprobación para aumentar la producción de petróleo de Texas por hasta 1 millón de barriles a través de inundaciones.