Crude Oil Brokers Scam Blog
Tuesday, 31 January 2017
Trump’s latest executive orders could be a detriment to oil
Oil-services giant Halliburton Co. told employees to stay put. An oil trade group is concerned by the proposed border tax. Another global oil company is reconsidering whether to place a crude trader in Houston. And universities that train energy workers across the country estimated that hundreds of students may be affected. More »
West African oil floods to Asia in latest sign of OPEC’s impact
West African oil producers will next month send the most crude to Asia in at least five years, the latest sign of how refineries in the world’s biggest demand region are scouring the world to replace supplies cut by OPEC’s Middle East producers. More »
Kalnin Ventures closes on second acquisition of Marcellus shale assets
Kalnin Ventures LLC today announced it has closed on its second acquisition of a non-operating portfolio in the northeast Marcellus shale play of Pennsylvania, on behalf of its investor Banpu Pcl. More »
Lloyd’s Register launches global subsea inspection service
Lloyd’s Register (LR) announced it has launched a subsea inspection services to support underwater inspections of subsea pipelines, assets and facilities to energy companies operating offshore. Services include project management, consultancy, personnel, quality control, data processing and data management, applicable to ROV, AUV and diver projects. The service will aim to provide operators with greater efficiency and improved confidence in the performance of their offshore and subsea operations. More »
Bibby Offshore extends charter agreement for Bibby Topaz
Bibby Offshore has announced the long-term extension to the charter of its dive-support vessel (DSV) Bibby Topaz, owned by Volstad Maritime. More »
Aker Solutions wins hook-up contract for Johan Sverdrup oil field
Aker Solutions won a contract from Statoil for the hook-up of the riser platform for the Johan Sverdrup field, Norway's largest offshore development in the past three decades. The company will work closely with subcontractor Kvaerner on joining together the platform's seven modules, which will be transported to Norway in the second quarter of 2018. The scope also covers planning, management and prefabrication. More »
Norway’s $1.8-billion pipeline spat moves to appeals court
Offshore gas-pipeline owners will face off again with Norway in an Oslo court on Tuesday in an appeal trial over tariff cuts that investors claim will cost them about $1.8 billion in income. More »
Oil braces for trump ban fallout as Halliburton says stay put
Oil-services giant Halliburton told employees to stay put. Another global oil company is reconsidering whether to place a crude trader in Houston. And universities that train energy workers across the country estimated that hundreds of students may be affected. More »
Wood Group secures new contract with Hess in Malaysia
Wood Group has been awarded a five-year contract with Hess Exploration and Production Malaysia. More »
Shell to sell its stake in Thailand’s Bongkot field
Shell has reached an agreement with KUFPEC Thailand Holdings Pte Limited, a subsidiary of Kuwait Foreign Petroleum Exploration Company, for the sale of subsidiary companies Shell Integrated Gas Thailand Pte Limited and Thai Energy Co Limited, which together hold a 22.222% equity stake in Bongkot field, and adjoining acreage offshore Thailand consisting of Blocks 15, 16 and 17 and Block G12/48, for $900 million. More »
Monday, 30 January 2017
DNV GL: Diversification, consolidation and ongoing efficiency measures will be hallmarks of 2017
New research by DNV GL, the technical advisor to the oil and gas industry, shows oil and gas companies seeking to rebalance business portfolios and reorganizing for a new era. More »
ABS introduces first recommended practice for hybrid riser systems
ABS, a provider of classification and technical services to the offshore industry, has published the ABS Guidance Notes on Subsea Hybrid Riser Systems, the first set of recommended practices for hybrid riser systems in the offshore industry. More »
New information platform helps OFS close deals faster, improve communications
Drillinginfo announced a new suite of oilfield services (OFS) solutions tailored to give clients an edge over other companies. The new OFS suite delivers cutting-edge technology that is simple to use and easy to implement for any size organization. Drillinginfo took what was familiar, such as rig and permit reports, and transformed it to become interactive, flexible and customized across print, web, mobile, and email – making static reports obsolete. With Drillinginfo, data filters now present only the most relevant and actionable activity allowing OFS professionals to focus on closing deals and deliver value to their customers. This easy-to-use communication tool breaks down barriers between the field and corporate offices, creating an unprecedented level of alignment across any organization. More »
U.S. operators plan major drilling boost as industry shakes off downturn
HOUSTON -- The North American upstream industry is set to stage a comeback, according to new data presented by World Oil, the premier trade publication for the international upstream industry. More »
Gazprom Neft expands production from Arctic platform
Gazprom Neft has met its annual production targets at the Prirazlomnaya offshore platform, with a total 2,154,000 tonnes of ARCO (Arctic Oil) being produced at the field in 2016—a more than 2.5-fold increase on 2015 volumes. More »
TGS kicks off first onshore seismic project in the Permian basin
TGS has commenced field operations on the West Kermit 3D seismic survey in the Delaware basin. This project will encompass a minimum of 150 square miles in Loving and Winkler counties, Texas. More »
OPEC convinces investors that its oil output cuts are real
OPEC appears to have persuaded investors that it’s making good on promised production cuts. More »
Oil trades near $53 as U.S. drilling accelerates amid OPEC cuts
Oil traded near $53/bbl after drilling in the U.S. climbed to the highest in more than a year, countering OPEC’s efforts to clear a supply glut. More »
Lukoil seeks Middle East oil projects for growth as Iran opens
Lukoil is seeking opportunities for growth in the Middle East as Iran opens more of its oil fields to international partners, according to the Russian energy company’s regional head. More »
Sunday, 29 January 2017
Resignation threatens to bring U.S. pipeline rulings to halt
A U.S. energy regulator filed his letter of resignation on Thursday. And with that letter, he may have just brought federal decisions on multi-billion-dollar natural gas pipelines to a halt. More »
Trump’s 20% import tax good news for Canadian oil patch
U.S. President Donald Trump’s controversial 20% tax on imports from Mexico to pay for a border wall would come as a second gift in less than a week for Canada’s oil patch. More »
Friday, 27 January 2017
IKM secures contract with Subsea 7 for Culzean field
IKM has secured a contract award courtesy of Subsea 7. Subsea 7 has won the award of a subsea, umbilical, riser and flowline (SURF) contract by Maersk Oil. More »
Total awards contract for Safe Caledonia semisubmersible to Prosafe
Total EandP UK Limited has awarded Prosafe a contract for the provision of the Safe Caledonia semisubmersible accommodation vessel at the Elgin-Franklin Facility in the UK sector of the North Sea. More »
U.S. gas one trade that may survive Trump’s Mexico showdown
It could take more than a political standoff between President Donald Trump and Mexico to keep U.S. shale gas from flowing south. More »
Eni to temporarily cede oil field control, Nigeria tells Shell
A Nigerian court has ordered Royal Dutch Shell Plc and Eni SpA to cede control of a jointly owned oil license to the government amid an investigation into how they purchased the asset. More »
Pantheon Resources completes successful sidetrack well in East Texas
Pantheon confirms that the VOBM#2 H sidetrack well, Polk County, onshore East Texas, has been drilled to a total measured depth of about 16,450 ft and will now be completed ahead of testing. More »
The size of the North American oil and gas prize—and what it means
In the span of 50 years we’ve had at least two paradigm shifting events in oil and gas geology. First--recognition of and understanding of plate tectonics as the dominant tectonic force that shapes our world, and second, understanding that we can exploit reserves from shale source beds and other various rocks that were thought to be too impermeable to produce either gas or oil. More »
Oil falls from three-week high amid doubts over cuts
Oil dropped from a three-week high amid doubts that OPEC and other producers will make promised output cuts while drilling increases in the U.S. More »
Lebanon to auction energy rights in area contested by Israel
Lebanon wants to auction energy rights to areas in the Mediterranean Sea contested by neighboring Israel and will invite more companies to qualify for bidding next month. More »
Chevron’s first loss in decades signals hard time for giants
Chevron Corp. posted its first annual loss since at least 1980, signaling the difficulties faced by the world’s biggest oil companies as they struggle to emerge from the worst collapse in a generation. More »
Thursday, 26 January 2017
Baker Hughes busy in Middle East even as OPEC cuts
OPEC production cuts haven’t slowed the search for more oil in the Middle East. More »
Zilift’s ESP TorqueDrive achieves one year production in U.S. well
Zilift has achieved more than one year’s production from its TorqueDrive (TD) technology in a cyclic steam operated, previously sub economic, well in California. The achievement further underpins the company’s position as a leading energy sector developer of electrical submersible pumps based on permanent magnet technologies. More »
BHP lifts shale spending as oil gains lure drillers to add rigs
BHP Billiton Ltd., the largest overseas investor in U.S. shale, boosted spending on its onshore oil and gas division as rising prices lure drillers to add rigs and spur a deals spree. More »
WandT Offshore's Ship Shoal 349 A-18 well begins production at Mahogany field
WandT Offshore, Inc. has announced that the Ship Shoal 349 A-18 well, its most recently completed well at Mahogany field, was successfully brought on production on Jan. 17, 2017. More »
McDermott awarded offshore EPCI contract from Saudi Aramco
McDermott International announced it has been awarded a substantial contract from Saudi Aramco for engineering, procurement, construction and installation (EPCI) services in the Safaniya and Zuluf fields offshore Saudi Arabia. The brownfield project is part of a wider program to replace aging facilities with electrified platforms to enhance the potential of the fields. The contract includes the design, procurement, fabrication, transportation, installation, testing and pre-commissioning of nine slipover jackets and decks, subsea pipelines and cables, as well as the associated demolition of certain facilities, in the Safaniya field. The contract also includes one single well observation platform in the Zuluf field. More »
Gazprom Neft commissions new production wells at Prirazlomnoye field
Gazprom Neft subsidiary Gazpromneft-Shelf has commissioned two new production wells at Prirazlomnoye field, bringing the total number of wells in operation at the Prirazlomnaya platform—the only oil production project on the Russian Arctic Shelf—to 10. More »
TechnipFMC receives well intervention work from INPEX in Australia
A subsidiary of TechnipFMC has entered into an agreement with INPEX Operations Australia for Riserless Light Well Intervention (RLWI) services in Ichthys field, approximately 220 km offshore Western Australia, for the Ichthys LNG Project. More »
Steve Jobs of oilfield services carved Baker Hughes path to GE Deal
Martin Craighead’s knack for innovation helped turn Baker Hughes Inc. into a sort of Apple Inc. for oil services. More »
Canada Pension said to join bid for Shell’s North Sea assets
Canada Pension Plan Investment Board has joined a group that’s in advanced talks to buy a package of Royal Dutch Shell’s UK North Sea assets for more than $2 billion, people familiar with the matter said. More »
Big oil debt tops out as cost cuts combine with price rally
Surging debt dogged the world’s largest oil companies during crude’s collapse. Now, sweeping cost cuts and rising prices have combined to lessen the need to borrow. More »
Wednesday, 25 January 2017
Halcón Resources enters Delaware basin with purchase of Pecos and Ward County assets
Halcón Resources Corporation, today announced it has entered into a purchase and sale agreement with a private operator to acquire 20,748 net acres in the Southern Delaware Basin (the Pecos County assets) for $705 million with a Nov. 1, 2016 effective date, in addition to entering into an option agreement to purchase an additional 15,040 net acres in Ward County, Texas, from a private operator for $11,000/acre (the Ward County Option). More »
PetroChina warns profit may drop to record low on oil’s plunge
PetroChina, the country’s biggest listed oil and gas producer, said full-year net income in 2016 fell by as much as 80%, putting it on pace to report a record-low profit. More »
New ABS guide outlines standards for improved drilling safety
ABS, the leading provider of classification and technical services to the offshore industry, has published the ABS Guide for Building and Classing Drilling Tender Barges. This new Guide outlines services and standards for the global drilling tender sector. More »
BP sees a future of slowing oil demand growth, abundant supplies
Oil demand growth will slow and supplies will remain abundant in the coming decades, meaning producers in the Middle East, Russia and U.S. will continue to gain market share at the expense of higher-cost rivals, said BP. More »
McDermott awarded offshore pipelay contract in the Middle East
McDermott International has been awarded an offshore pipelay contract in the Middle East. More »
Fluor selected as engineering services provider by NCOC in Kazakhstan
Fluor Corp announced that it was awarded a two-year engineering services framework agreement with North Caspian Operating Co (NCOC) for conceptual studies and front-end engineering for its projects in the Caspian region. More »
Hexion’s Oilfield Technology Group announces new dust suppressant solution
The Oilfield Technology Group (OTG) of Hexion Inc. has announced the release of its Sentinel dust suppressant. This new technology is designed to reduce dust generated from uncoated frac sand. More »
Kuwait expects oil output cuts to balance market in early 2017
OPEC and other oil producers are likely to comply fully with a deal to reduce supply, bringing global crude markets into balance early this year, Kuwaiti Oil Minister Essam Al-Marzouk said. More »
Canada faces era of pipeline abundance after Keystone XL move
President Donald Trump’s decision to revive TransCanada Corp.’s Keystone XL pipeline may herald a new era of pipeline abundance for Canadian oil producers after years of bottlenecks, while lowering the discount on the region’s crude. More »
Weak sales leave investors asking what growth?
Reporting a profit might not be enough Thursday for Baker Hughes Inc., after its two larger rivals failed to impress investors with anemic sales growth. More »
No stopping Texas as Permian fever spreads to pipes
The Permian basin land rush is spreading to oil and gas pipelines. More »
Tuesday, 24 January 2017
Oil advances on signs of increased OPEC compliance with accord
Crude climbed as Iraq said it’s close to implementing its share of pledged output curbs as part of OPEC’s effort to trim bloated global inventories. More »
Libya's oil output is at three-year high and rising, says NOC
Libya is pumping 715,000 bopd, the most since 2014, and is on track to keep boosting output this year as the country restores much of the production lost amid political chaos and conflict, the state oil company’s chairman said. More »
Trump takes steps to advance Keystone and Dakota pipelines
President Donald Trump took steps to advance construction of the Keystone XL and Dakota Access pipelines, marking the start of an era with fewer constraints on the oil industry to the chagrin of environmentalists who have bitterly fought the projects. More »
BP to sell part of interests in Magnus field and Sullom Voe terminal in UK North Sea to EnQuest
BP today announced it has agreed to sell part of its interests in the Magnus oil field and some associated pipeline infrastructure in the UK northern North Sea and in the Sullom Voe Terminal (SVT) on Shetland to EnQuest. More »
Targa expands Permian footprint with acquisition of multiple assets
HOUSTON -- Targa Resources has executed definitive agreements to acquire 100% of the membership interests of Outrigger Delaware Operating, LLC, Outrigger Southern Delaware Operating, LLC and Outrigger Midland Operating, LLC. Targa will pay initial cash consideration of $565 million for the membership interests. More »
Halliburton leaves investors wanting more in U.S. shale recovery
Halliburton’s return to profitability in North America wasn’t enough to satisfy investors hungry for faster growth in its biggest market. The world’s top provider of fracing services failed to keep up with the rapid growth in the shale patch last quarter. More »
OPEC clears way for cheap U.S. oil to sail to biggest market
Add Southern Green Canyon and Mars Blend to the growing list of American crude that’s challenging OPEC’s dominance in the world’s biggest oil market. More »
Canadian drillers brave deep freeze as oil patch revives growth
In the snowy prairies of Western Canada, not even temperatures below -40 degrees have stopped Stampede Drilling Ltd.’s 60 recently rehired workers from manning the oil-service provider’s rigs after a nine-month dry spell for the business. More »
Monday, 23 January 2017
Halliburton sets record for successful sleeve performance after 32 months downhole
Halliburton announced today that two of its RapidStart Initiator CT (casing test) sleeves opened after 32 months downhole. Thirty-two months is an industry record for the successful operation of a toe sleeve. More »
BP Thunder Horse South Expansion starts up ahead of schedule and under budget
BP today announced that it has started up the Thunder Horse South Expansion project in the deepwater Gulf of Mexico, 11 months ahead of schedule and $150 million under budget. More »
Iraqi Kurdistan pays oil-company dues as rally boosts funds
The government of Iraqi Kurdistan paid international oil companies for the first time in seven weeks, as rising crude prices gave a much-needed boost to the region’s coffers. More »
Too much ain’t enough as investors bet on oil market rebound
Hedge funds are showing they have some faith in OPEC. More »
Halliburton sets record for successful toe sleeve operation
Halliburton announced today that two of its RapidStart Initiator CT (casing test) sleeves opened after 32 months downhole. Thirty-two months is an industry record for the successful operation of a toe sleeve. More »
Webtool releases resettable emergency disconnect cutter for subsea well intervention
Hydraulic cutting systems specialist, Webtool, announces a resettable emergency disconnect cutter for light and medium subsea well intervention. More »
Equatorial Guinea keen to join OPEC in 2017, agrees to production cuts
The Ministry of Mines and Hydrocarbons of Equatorial Guinea has announced that it has submitted its interest to join the Organization of Petroleum Exporting Countries (OPEC) in 2017. More »
BP’s Juniper platform sets sail for offshore Trinidad
BP Trinidad and Tobago LLC (bpTT) today announced that the new Juniper offshore platform has begun its journey towards the southeast coast of Trinidad where it will be installed as bpTT’s 14th offshore installation. The Juniper project is a $2 billion USD investment in Trinidad and Tobago and one of BP’s largest start-up projects in 2017. More »
Maersk Drilling secures contract for Maersk Resolute jack-up
Maersk Drilling has been awarded a new contract with Petrogas EandP Netherlands B.V. for the Maersk Resolute jackup. The firm contract covers the drilling of two wells, A8 and A9, in Block A12 on the Dutch Continental Shelf. More »
Xodus wins North Sea contract with Apache
Xodus Group has won a contract with North Sea operator Apache to deliver subsea engineering services for two new infill well developments at Nevis and Skene fields in the Northern North Sea. More »
Russia wrests crown of top China oil supplier from Saudi Arabia
Russia overtook Saudi Arabia as China’s top oil supplier last year for the first time ever amid the ongoing battle for market share in the world’s biggest energy market. More »
OPEC, non-OPEC nations agree on way to monitor oil cut to end glut
OPEC and other oil producers agreed on a way to monitor their compliance with last month’s historic supply deal, putting global markets on track to re-balance after more than two years of oversupply. More »
Halliburton profit beats estimates as U.S. drilling gains
Halliburton reported fourth-quarter adjusted profit that beat analysts’ estimates after oil explorers kicked off a year-end recovery in North America where the service provider generates most of its sales. More »
OPEC shrugs off threat Trump will cut oil imports
OPEC’s two biggest suppliers to the U.S. shrugged off a vow by President Donald Trump to end dependence on the group’s oil, saying the world’s biggest economy would continue to need crude from abroad. More »
Saturday, 21 January 2017
Isolation Technologies improves slurry placement with new combo tool
Isolation Technologies, a designer and manufacturer of zonal isolation equipment, has developed the IsoTech Combo Tool to improve slurry placement with a single tool. More »
Friday, 20 January 2017
Trump said to pick LaFleur as chairman of U.S. Energy Regulator
President-elect Donald Trump plans to name Cheryl LaFleur chairman of the Federal Energy Regulatory Commission, an agency charged with overseeing the nation’s power grid and deciding on multi-billion-dollar energy projects, two people familiar with the situation said. More »
OPEC, Russia meet in Vienna for first check on oil-cuts progress
Representatives of OPEC and several other major oil producers will start arriving in Vienna on Friday for their first meeting to monitor compliance with an agreement to cut output. More »
Halliburton awarded Iraqi drilling contract by Shell
Halliburton has signed a contract with Shell Iraq Petroleum Development to provide drilling services for sustained production at Shell’s Majnoon oil field in Southern Iraq. More »
Schlumberger waits for international oil spending to pick up
Schlumberger is waiting for the rest of the world’s oil producers to catch up to the North American crude recovery. More »
EMGS and TGS expand cooperation in Barents Sea
Electromagnetic Geoservices ASA (EMGS) and TGS-NOPEC Geophysical Co ASA (TGS) have agreed to expand the companies' cooperation agreement in the Barents Sea. More »
Shearwater GeoServices signs agreements with TGS for two surveys
Shearwater GeoServices Norway AS has signed agreements with multiclient company TGS for two surveys, one firm and one optional, in Norway. The surveys that are scheduled to commence between March and May 2017 total approximately 15,000 sqkm and will be performed by two of Shearwater’s high-end 3D vessels. The scope of the firmly awarded survey equals to approximately 6 vessel months and requires a wide tow spread for which the Shearwater vessels are designed. The optional scope equals to 4 additional vessel months. More »
Schlumberger posts a loss as slump weighs on oil services
Schlumberger reported a fourth-quarter loss as oil’s slump continued to weigh on demand for drilling services. More »
Maersk IPO plans won’t derail bid for Dong’s $2.8-billion unit
A.P. Moller-Maersk A/S CEO Soren Skou’s newly disclosed plans that he favors a stock-exchange listing for his energy units won’t prevent him from buying Dong Energy A/S’s oil and gas fields first. More »
North Atlantic Drilling secures contract extension for West Elara
North Atlantic Drilling Ltd has been awarded a firm one-well extension plus one optional well from Statoil Petroleum for the West Elara jackup . More »
Proserv secures new contracts, establishes new bases
Proserv has already secured new contracts worth more than $12 million so far this year and has revealed plans for further international growth with new bases in Saudi Arabia and India. More »
Oil demand at risk as China reins in buyers that bought less
Demand from some of the most coveted oil buyers may slow this year because they didn’t purchase all that they could in 2016. More »
Republicans step up push for Arctic drilling in wildlife refuge
Far above the Arctic Circle, one of the longest-running controversies in U.S. oil drilling is about to reignite. More »
Thursday, 19 January 2017
Fairmount Santrol extends Propel SSP proppant transport technology
Fairmount Santrol announced today an extension to Propel SSP proppant transport technology, which increases hydraulic fracturing efficiency, for plays where operators face high produced water disposal costs and constraints on freshwater availability. More »
Statoil awards OneSubsea production system contract for North Sea development
OneSubsea, a Schlumberger company, announced it has been awarded an engineering, procurement and construction contract by Statoil to supply the subsea production system for the Utgard gas and condensate discovery in the North Sea. More »
Danos awarded contract for Hess Stampede platform
Danos has secured a contract to perform mechanical hook-up and commissioning (HUC) support services for the Hess Stampede tension leg platform (TLP) in the Gulf of Mexico. More »
Statoil awards OneSubsea production system contract for the Utgard development, Norwegian North Sea
OneSubsea, a Schlumberger company, announced it has been awarded an engineering, procurement and construction contract by Statoil to supply the subsea production system for the Utgard gas and condensate discovery in the North Sea. More »
TGS announces Atlantic Margin 3D multi-client project in Norway
TGS announces its first new multi-client acquisition project in 2017, AM17 Atlantic Margin 3D in the Norwegian Sea. More »
Greenwell Energy Solutions acquires Exclusive Energy Services
Greenwell Energy Solutions, an independent specialty provider of completion and production services, has acquired Exclusive Energy Services. More »
Plains All American to expand Permian basin pipeline
Plains All American Pipeline (PAA) is to expand the capacity on its Cactus pipeline from McCamey to Gardendale, Texas, to approximately 390,000 bpd. More »
NextDecade signs lease to develop LNG export project at Texas City
NextDecade has signed lease agreements with the State of Texas and the City of Texas City for a close to 1,000-acre site at Shoal Point for the potential development of a multi-billion-dollar LNG export facility. More »
NextDecade signs lease for 1,000-acre Texas City site to develop LNG export project
NextDecade has signed lease agreements with the State of Texas and the City of Texas City for a close to 1,000-acre site at Shoal Point for the potential development of a multi-billion-dollar LNG export facility. More »
Oil analysts see shallow gains as OPEC deal, shale hem in prices
Wall Street’s optimism on oil prices is muted, following a 75% gain in the past year. More »
CGG, Searcher commence Carnarvon basin seismic project
Searcher Seismic, in conjunction with project partner CGG, has commenced the PSDM reprocessing of ~1,668 km2 of 3D seismic data in the Carnarvon basin, Western Australia. More »
OPEC seeks to quiet doubts on supply cuts as rally falters
When OPEC and Russia meet this weekend to gauge progress on their oil-supply deal, they’ll be trying to dispel the shadow of previous unfulfilled promises. More »
Oil gains as U.S. stockpiles fall while IEA sees OPEC cutting
Oil recovered after the biggest drop in more than a week as industry data showed U.S. crude stockpiles declined, while OPEC and other producing nations trim output to ease a global glut. More »
China’s Cnooc raising spending for first time since oil’s plunge
Cnooc Ltd. plans to raise capital spending for the first time since crude began its crash in 2014 as China’s biggest offshore oil and gas producer prepares for life after the slump and a second year of falling output. More »
Wednesday, 18 January 2017
Schlumberger signs two long-term Transocean service agreements
Cameron, a Schlumberger company, today announced the signing of two 10-year pressure control equipment management service contracts on behalf of Transocean valued at greater than $350 million. More »
Dresser-Rand commissions its first small-scale LNG production solution
The Dresser-Rand business, part of Siemens Power and Gas, has commissioned its first small-scale natural gas liquefaction system at the Ten Man liquefied natural gas (LNG) facility near Mansfield, Pa. More »
Online oil and gas lease sale nets $84 million for Permanent School Fund
Commissioner George P. Bush today announced that the Texas General Land Office's (GLO) fourth online sale of oil and gas leases earned public education more than $84 million. More »
Statoil awards service contracts for two Cat J rigs
Baker Hughes and Schlumberger will be awarded contracts for integrated drilling and well services on the Cat J rigs Askepott and Askeladden. The rigs will perform work at Oseberg and Gullfaks. More »
Oil falls as IEA chief sees ‘significant’ boost to U.S. output
Oil fell in New York, reversing earlier gains, after the head of the International Energy Agency (IEA) predicted a rebound in U.S. supply. More »
Aramco CEO says oil tax will be cut to lure investors to IPO
Saudi Arabia has promised it will reduce the overall tax rate paid by its national oil company to make its 2018 initial public offering—potentially one of the largest in history—more appealing to investors. More »
Asia-Pacific’s upstream holds MandA opportunities worth $40 billion
Asia-Pacific's upstream sector holds up to $40 billion worth of opportunities in 2017 as oil majors continue to divest mature and mid-life assets in the region, according to a research by Wood Mackenzie. More »
Chevron awards structural integrity services contract to Atkins
Chevron North Sea has awarded Atkins a three-year framework contract for structural integrity services across selected fixed and floating platforms in the UK North Sea. More »
Oil bosses see shale rebound capping 2017 price surge
Top oil industry officials in Davos aren’t turning completely bullish just yet. Capping their enthusiasm is U.S. shale oil, which is likely to limit price increases and usher in a period of greater volatility. More »
Rokke’s Aker said to weigh sale of Aker Solutions
Aker ASA, the investment company controlled by Norwegian billionaire Kjell Inge Rokke, is considering a sale of offshore-engineering business Aker Solutions, according to people familiar with the matter. More »
IEA sees significant gains in U.S. shale oil as prices rise
Oil-price gains will trigger a “significant” increase in U.S. shale output as OPEC and other producers rein in supply, according to the head of the International Energy Agency. More »
Tuesday, 17 January 2017
Brent oil falls as investors await signs of production curbs
Brent oil declined as investors looked for signs of compliance by OPEC and other producers with an output-reduction accord. More »
Saipem awarded onshore drilling contracts valued at $240 million
Saipem has been awarded new contracts and the extension of pre-existing agreements in the onshore drilling sector in Saudi Arabia, Morocco, Bolivia and Argentina for a total value of $240 million. More »
Wood Mac: Better times head for the UKCS, but investment still a concern
Activity was low on the UKCS in 2016 as companies were in full survival mode during the oil price downturn and added Brexit uncertainty. However, there was a change of pace towards the end of the year, with the rise in oil price and larger deals signalling a return of confidence. More »
TechnipFMC begins operating as unified entity following merger
TechnipFMC has announced that it is operating as a unified, combined company following completion of the merger of FMC Technologies and Technip. More »
Exxon Mobil goes big in the Permian with multi-billion-dollar deal
Exxon Mobil Corporation will more than double its Permian basin resource to 6 Bboe through the acquisition of companies owned by the Bass family of Fort Worth, Texas, with an estimated resource of 3.4 Bboe in New Mexico’s Delaware basin, a highly prolific, oil-prone section of the Permian basin. More »
Exxon Mobil buys 250,000 acres in Permian basin for $5.6 billion
Exxon Mobil Corporation will more than double its Permian basin resource to 6 Bboe through the acquisition of companies owned by the Bass family of Fort Worth, Texas, with an estimated resource of 3.4 Bboe in New Mexico’s Delaware basin, a highly prolific, oil-prone section of the Permian basin. More »
Ownership interests on Norwegian continental shelf offered in APA 2016
Today, Jan. 17, offers for 56 new production licences on the Norwegian continental shelf (NCS) will be sent to 29 companies. More »
Plan for development of Statoil's Utgard and Byrding fields approved by authorities
The plan for development and operation for Utgard and Byrding fields in the North Sea has been approved by the authorities. More »
Owen Oil Tools launches new line of shaped charges for unconventional frac operations
Owen Oil Tools, a division of Core Laboratories, recently launched its HERO PerFRAC line of shaped charges. More »
CNOOC commences production on Enping 23-1, South China Sea
China National Offshore Oil Corporation Limited announced that the Enping 23-1 oilfield has commenced production. The new field, located in the Pearl River Mouth basin of the South China Sea, is in an average water depth of approximately 90 m. More »
Libya oil output said to rebound with power returning at fields
Libya’s oil production rebounded to about 700,000 bpd after dipping temporarily due to power outages that disrupted operations at some of the OPEC member’s fields. More »
Statoil in commercial discovery near Norne
Statoil has made an oil and gas discovery, which is believed to hold between 20 MMboe and 80 MMboe of recoverable reserves, close to Norne field. More »
BP’s CEO won’t boost spending, signals caution on oil rebound
BP boss Bob Dudley is not yet ready to boost spending despite the rebound in oil prices. More »
North Atlantic Drilling secures contract award for West Phoenix
North Atlantic Drilling has been awarded a one-well contract for the West Phoenix semisubmersible for work in the United Kingdom West of Shetland. More »
Tullow makes new oil discovery in Kenya
Tullow Oil’s Erut-1 well in Block 13T, northern Kenya, has discovered a gross oil interval of 55 m with 25 m of net oil pay at a depth of 700 m. More »
China’s inescapable oil slide is a record-breaking OPEC gift
OPEC’s campaign to prop up oil prices is getting unlikely support from its biggest customer. More »
Dana Gas says 1 billion barrels of oil in way of ending glut
Almost 1 Bbbl of oil held in inventories must be used up before global supply and demand are closer to balance, Dana Gas PJSJ CEO Patrick Allman-Ward said. More »
Monday, 16 January 2017
Noble Energy expands in Permian with $2.7-billion Clayton Williams buy
Noble Energy is to acquire all of the outstanding common stock of Clayton Williams Energy for $2.7 billion in a stock and cash deal. More »
Noble Energy to acquire Clayton Williams Energy
Noble Energy, Inc., and Clayton Williams Energy, Inc., today announced that the boards of directors of both companies have unanimously approved and the companies have executed a definitive agreement under which Noble Energy will acquire all of the outstanding common stock of Clayton Williams Energy for $2.7 billion in Noble Energy stock and cash. More »
Oil rises as Saudis see market balanced by June, U.S. drops rigs
Oil rose in New York after Saudi Arabia’s energy minister said OPEC probably won’t need to extend its supply cuts beyond June as the market reaches a balance. More »
LNG use surging while idled spending may trigger next spike
Liquefied natural gas prices falling to the lowest in a decade last year spurred fresh demand while suppressing investment in new production, potentially leading to shortages and price spikes next decade, according to a new Bloomberg New Energy Finance (BNEF) report. More »
Lloyds Energy files LNG export application with DOE
Lloyds Energy Group announced that it has submitted a formal application with the Department of Energy (DOE) to export LNG to countries which have a Free Trade Agreement (FTA) with the U.S. from its proposed facility in Calhoun County, Texas. More »
Orbital Gas Systems awarded multiple gas measurement contracts in UK
Orbital Gas Systems has been awarded contracts for integration natural gas analysis and metering infrastructure totaling $1.75 million, by a client operating several large-scale manufacturing plants throughout Europe. More »
Egyptian gas market sees seasonal surplus, says Wood Mac
Egypt's gas market is poised to undergo profound changes in the next five years, and these could have an impact on the global LNG market, seeing Egypt position itself as a prominent seasonal player, research from global natural resources consultancy Wood Mackenzie shows. More »
Saudi plans for early end to OPEC pact risk leaving job undone
Saudi Arabia says OPEC is on track to wrap up its production curbs by the middle of the year. That would leave its aim of clearing a global oil glut unfinished. More »
DOF wins Petrobras contract for Skandi Vitoria
Petrobras has awarded the Brazilian built PLSV Skandi Vitoria a contract of 532 days. The contract will commence in January. More »
ConocoPhillips reports major discovery in Alaska
ConocoPhillips Alaska has made a new oil discovery in the Greater Mooses Tooth (GMT) Unit located in the northeastern portion of the National Petroleum Reserve–Alaska (NPRA). More »
Bone-chilling winter from Berlin to Davos causes energy scramble
From the rivers criss-crossing eastern Europe to the Mediterranean ports of Greece and France, everyone is hunting for energy supplies. More »
Saudis see no need to extend OPEC deal beyond six months
OPEC probably won’t need to extend a deal it reached with other crude producers to cut output, given the level of their compliance with the reductions and the outlook for an increase in global demand, Saudi Energy Minister Khalid Al-Falih said. More »
As OPEC acts on New Year’s resolution, U.S. shale pumps away
U.S. shale is getting in the way of a New Year’s resolution by OPEC to cut production and boost the market. More »
Sunday, 15 January 2017
Oil’s painful cost-squeeze generates output dividend for Norway
Cost cuts are painful, but for Norway’s oil industry, making every penny count has also yielded a surprising production windfall. More »
Friday, 13 January 2017
FUGRO wins five-year contract with INPEX in Australia
LEIDSCHENDAM, The Netherlands -- Fugro has been awarded a contract from INPEX Operations Australia for subsea services to be executed across the Ichthys facilities in the Timor Sea, located approximately 220 km from the coast of Western Australia. More »
MEG expands Christina Lake project, taps debt market as oil rebounds
MEG Energy Corp. is boosting production at its Christina Lake project in Alberta and tapped debt and equity markets for financing, further signs of a rebound in Canada’s oil patch as crude prices stabilize. More »
Anadarko to sell Eagle Ford assets in $2.3-billion deal
Anadarko Petroleum has agreed to sell its Eagle Ford shale assets in South Texas for approximately $2.3 billion to Sanchez Energy Corporation and Blackstone Group LP. More »
Crude oil halts four-week gain as OPEC cuts yet to be verified
Oil headed for its first weekly decline since December as traders waited for proof that OPEC and other producers would follow through on promises to cut production. More »
Thursday, 12 January 2017
Gazprom Neft to start pilot work at Yamal's Severo-Samburgskoye field
Gazprom Neft subsidiary Gazpromneft-Yamal has announced plans to begin pilot operations at the Severo-Samburgskoye field, located in the Purovsky district in the Yamalo-Nenets Autonomous Okrug, in 2017. More »
SNC-Lavalin awarded five-year extension to GES+ contract with Saudi Aramco
SNC-Lavalin Fayez Engineering (SLFE), an engineering consultancy partnership between SNC-Lavalin and Dr. Zuhair Fayez, has been awarded a five-year extension to its existing General Engineering Services Plus (GES+) contract with Saudi Aramco, with three one-year options to extend. More »
Dragon Products expands frac equipment rebuilding efforts
Dragon Products is expanding its frac equipment rebuilding efforts to help oil production companies meet new market demand. More »
Interior cancels remaining oil and gas leases in Montana’s Badger-Two Medicine area
The U.S. Department of the Interior has announced that the Bureau of Land Management has canceled the final two oil and gas leases in the Badger-Two Medicine area within the Lewis and Clark National Forest in northwest Montana. More »
STEP reduces offset well hits by deploying far-field diverter technology
Recognizing that fracturing operations often influence the production of parent wells, STEP Energy Services (STEP) recently collaborated with a Montney producer to reduce offset well communication by using its far-field diverter technology, STEP-PLEX. More »
Total’s Cyprus Block 11 could rival Egypt’s Zohr discovery, IHS Markit says
Driven by the success of Eni’s major Zohr field gas discovery offshore Egypt in 2015, companies are rethinking the Eastern Mediterranean region’s gas potential, according to new analysis from IHS Markit. More »
Eni spuds wildcat well in Norwegian Barents Sea
Faroe Petroleum has announced the commencement of the Eni-operated Boné exploration well, 7318/12-1, in the Barents Sea. More »
Nigeria oil union suspends strike after accord with companies
Nigeria’s blue-collar oil union suspended a planned three-day warning strike that began Wednesday after the government brokered a deal between workers and oil companies, including units of Chevron Corp. and Exxon Mobil Corp. More »
Saudi oil cuts exceeds target and Kingdom may cut for longer
Saudi Arabia will consider renewing its pledge to cut crude output in six months and has already reduced production by more than its targeted level, Energy Minister Khalid Al-Falih said. More »
U.A.E. says $50 oil ‘isn’t going to cut it’ for producers
Crude oil at $50/bbl is too low for most producing countries, according to United Arab Emirates Energy Minister Suhail Al Mazrouei. More »
Wednesday, 11 January 2017
Pampa sets sights on Argentina’s tight gas as Vaca Muerta drags
Pampa Energia SA wants to become one of Argentina’s main producers of tight gas following its acquisition of Petrobras Argentina SA, because those prospects are currently more profitable than shale gas in the giant Vaca Muerta formation. More »
Saudis said to cut oil to China, South Asia as others spared
Saudi Arabia was said to cut February crude sales to China and southern Asian nations, while largely sparing countries including Japan and South Korea, as it curbs supply as part of a deal between OPEC and other producers. More »
Energean to develop Karish and Tanin gas fields with FPSO program, offshore Israel
Energean Oil and Gas outlined initial details for the development of the Karish and Tanin natural gas fields. At a press conference in Tel Aviv, Energean management announced that the two fields will be developed using a floating production, storage and offloading (FPSO) unit to facilitate the quickest route to producing first gas with the objectives of the government of Israel. More »
Halliburton enters technology agreement with Petrobras
Halliburton has announced a technology cooperation agreement with Petrobras (PBR) that will advance collaboration in a diverse set of projects targeting complex reservoirs such as deepwater pre-salt and mature fields. More »
Genie Energy launches drilling services company in Israel
Genie Energy Ltd. has announced that it is establishing Atid Drilling Ltd., an onshore drilling services venture based in Israel. More »
GE, Transocean announce performance-based service agreement
GE Oil and Gas has secured a new contractual service agreement (CSA), valued at approximately $180 million, with Transocean. More »
Energean to develop Karish and Tanin with FPSO, offshore Israel
Energean Oil and Gas has outlined initial details for the development of Karish and Tanin natural gas fields. More »
Caterpillar introduces new Tier III emissions certified offshore engine
Caterpillar Oil and Gas announced the IMO Tier III emissions certified C15 ACERT offshore engine rated at 403 bkW (540 bhp) and 433 bkW (580 bhp). The engine utilizes Caterpillar’s NOx reduction system (NRS) system to meet NOx emissions levels needed to operate in regions where IMO Tier III emission regulations are required. More »
Parsley Energy announces extensive Midland and Delaware basin acquisitions
Parsley Energy announced that it has entered into agreements to acquire, in unrelated transactions, certain undeveloped acreage and producing oil and gas properties located adjacent to the company's existing operating areas in the Midland and southern Delaware basins. The aggregate purchase price is $607 million in cash, with certain transactions still subject to customary closing conditions. More »
Proserv, SapuraKencana join forces in Asia Pacific
Proserv and SapuraKencana Technology Sdn Bhd (SK Technology), a wholly owned subsidiary of SapuraKencana Petroleum Berhad, are joining forces to provide enhanced technology services to clients in Asia Pacific. More »
Energy’s drunken-sailor legacy hangs over plans for debt rescues
Debt-laden energy companies that still don’t have a financial escape plan in place are running out of time and willing lenders even after oil doubled from its February lows. More »
Oil industry starts revival as project approvals to double
The oil industry will shake off the effects of the biggest downturn in a generation this year as they more than double project approvals and increase exploration spending for the first time in three years, according to Wood Mackenzie. More »
Tuesday, 10 January 2017
Non-OPEC delivers more than a quarter of promised cuts so far
Russia and Kazakhstan said they’ve met or exceeded their initial goals for trimming oil output, bringing cuts by non-OPEC nations in the first 10 days of this year to more than a quarter of the total pledged a month ago in Vienna. More »
Oil discoveries seen recovering after crashing to 65-year low, Wood Mac says
The amount of oil discovered last year was the lowest since the 1950s as explorers slashed spending amid the worst downturn in a generation, according to Wood Mackenzie. The good news: It can probably only get better from here. More »
Wood Group secures multi-million dollar framework agreement with Saudi Aramco
Wood Group has secured a five-year, multi-million dollar framework agreement to continue to provide engineering and project management services to Saudi Aramco’s onshore capital programs in the Kingdom of Saudi Arabia. More »
First rigs to arrive for decommissioning in Great Yarmouth
The Veolia and Peterson partnership has been awarded two platform decommissioning contracts for recycling at their facility in Great Yarmouth. More »
Gazprom Neft discovers new field in Orenburg Oblast
Gazprom Neft subsidiary Gazpromneft Orenburg, has discovered a new field in the Sorochinsky district of Orenburg Oblast. Reservoir engineers have estimated the new discovery, called Novosamarskoye field, has oil-in-place reserves of more than eight million tonnes. This is the first discovery in the area under investigation, which company specialists believe contains a series of smaller deposits. More »
North American EandP companies wager big, hedging 24% of 2017 production
North American EandP companies have more than tripled hedging protection for their 2017 production since April 2016, with 24% of total 2017 production now hedged, according to new analysis from IHS Markit. More »
Noble Energy closes acquisitions in Delaware basin
Noble Energy has finalized bolt-on transactions which have added approximately 7,200 net acres to the company's Southern Delaware basin position in Reeves County, Texas. More »
Europe left in cold as frost triggers global LNG hunt
The year has started off with a very cold bang, meaning Europe will have to pay a premium to stay warm. More »
Comstock Resources adds to Haynesville acreage with joint development venture
Comstock Resources has entered into a joint development venture that will target the Haynesville shale. More »
BOEM denies Atlantic seismic GandG permits
The Bureau of Ocean Energy Management (BOEM) has denied six pending geophysical and geological permit applications to conduct airgun seismic surveys in the Mid- and South Atlantic Planning Areas of the Atlantic Ocean. More »
Iraq confirms oil-output cut even as scheduled exports rise
Iraq has reduced its oil production by 160,000 bpd and will comply with cuts it agreed to make under an OPEC output deal, Oil Minister Jabbar Al-Luaibi said, even as ship loading data suggested that exports are set to increase next month. More »
Monday, 9 January 2017
Oil industry growing again after losing half-million jobs
The oil industry is expected to boost spending for the first time in three years after slashing almost half a million jobs globally during the downturn, according to industry consultant Graves and Co. More »
Maersk Oil Danish Business Unit to simplify its organization
Maersk Oil Danish Business Unit (DBU) has announced that it will simplify its organization to improve efficiency and ensure delivery of Maersk Oil’s three pillar strategy. More »
Maersk Oil Danish Business Unit to simplify its organisation
Maersk Oil Danish Business Unit (DBU) has announced that it will simplify its organization to improve efficiency and ensure delivery of Maersk Oil’s three pillar strategy. More »
Total to acquire additional interest in Uganda Lake Albert project
Total and Tullow have entered into a package agreement under which Total will acquire an additional 21.57% interest from Tullow in the Uganda Lake Albert oil project. Following this transaction, Total will hold a 54.9% interest, strengthening its position in this competitive project and paving the way for a project sanction in the near future. More »
Total to acquire an additional 21.57% interest from Tullow in the Uganda Lake Albert project
Total and Tullow have entered into a package agreement under which Total will acquire an additional 21.57% interest from Tullow in the Uganda Lake Albert oil project. Following this transaction, Total will hold a 54.9% interest, strengthening its position in this competitive project and paving the way for a project sanction in the near future. More »
DNO reports Cretaceous oil discovery in Iraqi Kurdistan
DNO ASA, the Norwegian oil and gas operator, has announced that the Peshkabir-2 well currently drilling in the Kurdistan region of Iraq has discovered oil in the Cretaceous horizon in the southern flank of Peshkabir field. More »
Reluctant activist sees heart of shale being ripe for deals
After years of calling for it privately, Barnes Hauptfuhrer decided that early 2017 was finally time to go public with his desire to see a makeover of America’s hottest natural gas play. More »
Saudi Arabia to U.A.E. complying with oil cuts, Kuwait says
Oil producers from Saudi Arabia to the United Arab Emirates are complying with production cuts promised last year to stabilize the market, Kuwait’s governor to the Organization of Petroleum Exporting Countries said. More »
Oil falls as OPEC output curbs offset by growth in U.S. drilling
Oil fell for the first time in four days as an increase in U.S. drilling activity fanned speculation that OPEC production cuts could revive output in North America. More »
Sunday, 8 January 2017
Saudis said to duel rivals by curbing heavy oil over light crude
Saudi Arabia is staying in the battle for market share by continuing to pump the type of oil that’s similar to rival U.S. and African supply, while fulfilling its promise to cut output by focusing curbs on other varieties. More »
Friday, 6 January 2017
Brent oil closes at 18-month high after positive U.S. jobs data
Brent oil rose to the highest close in almost 18 months after U.S. government data showed strong job and wage gains, while Kuwait and Saudi Arabia signaled they are curbing output. More »
CandJ Energy Services emerges from Chapter 11 bankruptcy
CandJ Energy Services, Inc., has announced that effective as of Jan. 6, 2017, the Company has successfully completed its financial restructuring and emerged from Chapter 11 bankruptcy, having satisfied all of the conditions to the effectiveness of its plan of reorganization. More »
Wison Offshore and Marine launches floating LNG power plant solutions
Wison Offshore and Marine has announced that the company has developed a range of practical solutions for floating power supply. More »
Will OPEC deliver its output cut deal? Here’s how we’ll know
The promise of production cuts from OPEC and its partners sent oil rallying in 2016. Now traders want proof they’re delivering on those vows. It won’t come easy. More »
WandT Offshore discovers new and deeper productive reservoirs at GOM Ship Shoal 349, Mahogany field
HOUSTON -- WandT Offshore announced that its Ship Shoal 359 A-18 well has logged 149 ft of net oil pay in five zones and extended the size and depth of the Mahogany field. The SS 349 A-18 well was drilled on the western side of the Mahogany field to extend the productive limit of the 'T' sand, which was discovered in mid-2013 by the A-14 well. More »
Hyperdynamics to engage a more advanced drillship for Guinea campaign
Hyperdynamics Corporation has accepted a proposal from its drilling contractor, Pacific Drilling, to deploy the Pacific Scirocco drillship in place of the Pacific Bora for Hyperdynamics' upcoming deepwater exploration well offshore the Republic of Guinea. More »
Maersk Drilling takes delivery of newbuild jackup
Maersk Drilling has taken delivery of its fourth XLE jackup rig, the Maersk Invincible, from Daewoo Shipbuilding and Marine Engineering in South Korea. More »
Dril-Quip acquires The Technologies Alliance, Inc. d/b/a OilPatch Technologies
Dril-Quip has acquired The Technologies Alliance, Inc. d/b/a OilPatch Technologies (OPT) for approximately $20 million. More »
Shell pipeline fire threatens to deepen Nigerian oil output drop
Royal Dutch Shell shut the Trans Niger oil pipeline after a fire, threatening to worsen a drop in Nigerian output due to unplanned disruptions. More »
Canada rules out Arctic drilling extensions for Exxon and BP
The Canadian government says it won’t grant extensions to exploration licenses for Exxon Mobil, BP and other oil firms as it prepares for consultations over the impact of an Arctic drilling moratorium. More »
Thursday, 5 January 2017
Oil rises as Saudi Arabia said to comply with OPEC output cuts
Oil rose as Saudi Arabia was said to meet its pledged output cut this month and U.S. stockpiles fell the most in almost four months. More »
Exxon Mobil develops natural gas dehydration technology
Exxon Mobil has announced the development of its cMISTTM technology, which dehydrates natural gas using a patented absorption system inside pipes and replaces the need for conventional dehydration tower technology. More »
VAALCO Energy restores production from Avouma 2-H, offshore Gabon
VAALCO Energy, Inc. has announced that the Avouma 2-H well on the Avouma platform offshore Gabon is back on production after utilizing a hydraulic workover unit to replace a failed Electric Submersible Pump (ESP) system. More »
GEODynamics acquires Paradigm GeoKey’s perforating business in Aberdeen
GEODynamics acquired Paradigm GeoKey’s Aberdeen, Scotland-based perforating business unit on Jan. 1, 2017. As a result of the transaction, GEODynamics has established a UK operating company. Chris Chalker, former managing director of Paradigm GeoKey, has joined the GEODynamics team as vice president, Eastern Hemisphere and will be based in Aberdeen to manage and grow GEODynamics’ business throughout the region. More »
Expro adds senior project manager for well abandonment services
Expro launched four new business capabilities last year, including fully integrated well abandonment services encompassing; late-life reservoir management, permanent reservoir abandonment and post abandonment monitoring. To help manage these new business units, Expro, appointed Bill Inglis, senior project manager, well abandonment. More »
NEL aims to reduce financial burden of heavy oil measurement
NEL, the flow measurement RandD specialist, has developed a novel method for calculating Reynolds numbers in real-time, helping the oil and gas industry to significantly reduce financial exposure of heavy oil flow measurement. More »
Acteon strengthens moorings offering with Bruce Anchor acquisition
Subsea services group Acteon has enhanced its capabilities in the provision of temporary and permanent mooring systems by acquiring Bruce Anchor. More »
The oil trade that shows where OPEC’s cuts are starting to bite
As OPEC starts to make its production cuts work, the true impact of its actions is perhaps most in evidence in an obscure part of the physical oil market. More »
Saudi Aramco raises oil pricing to Asia and U.S. as OPEC cuts output
Saudi Arabia raised pricing for February oil sales to Asia and increased premiums for light grades to the U.S. as the world’s largest crude exporter prepares to reduce output to help counter a global oversupply. More »
Wednesday, 4 January 2017
AccessESP rigless system successfully enables ESP pump swap on Alaska's North Slope
AccessESP has showcased its rigless ESP conveyance system in the industry’s first pump swap for an operator on Alaska's North Slope. More »
Lebanon set to join Eastern Mediterranean oil and gas race
Lebanon approved two measures allowing it to auction its first offshore oil and natural gas rights, ending three years of delays that kept the tiny country from joining a regional race to tap energy wealth in the eastern Mediterranean. More »
Pason acquires Verdazo Analytics, announces sale of assets
Pason Systems Inc. has announced that it has acquired all of the issued and outstanding shares of Verdazo Analytics Inc. More »
Packers Plus launches PrimeSET liner hanger system
Packers Plus Energy Services launched its PrimeSET liner hanger system. Innovative anti-preset features ensure reliability and performance, resulting in time and cost savings for operators. More »
Statoil to boost exploration drilling by around a third this year
Statoil plans to drill around 30 exploration wells in 2017, an increase of around 30% compared to 2016. More than half of the wells will be drilled on the Norwegian Continental Shelf (NCS). More »
There's an early sign OPEC's push to normalize the oil market may be working
When it comes to OPEC production cuts, "We tend to cheat," said former Saudi Arabia Oil Minister Ali al-Naimi after the group reached an agreement to curb output late last year. More »
PDC Energy seals Delaware basin bolt-on acquisition
PDC Energy has closed on the acquisition of approximately 4,500 net acres in Reeves and Culberson counties, Texas, from Fortuna Resources Holdings, LLC, for approximately $118 million. More »
Exxon Mobil, Tillerson reach conflict of interest agreement on Trump nomination
The board of directors of Exxon Mobil Corporation has reached an agreement with Rex W. Tillerson, former chairman and CEO, to sever all ties with the company to comply with conflict-of-interest requirements associated with his nomination as secretary of state. More »
Cobalt appraisal well strikes pay at North Platte in Gulf of Mexico
Cobalt International Energy has completed drilling operations on the North Platte #4 appraisal well in the U.S. Gulf of Mexico. More »
Statoil to boost exploration drilling by nearly a third
Statoil plans to drill around 30 exploration wells in 2017, an increase of around 30% compared to 2016. More than half of the wells will be drilled on the Norwegian Continental Shelf (NCS). More »
Libya’s oil revival gathers pace to highlight risks on OPEC deal
Libya, the holder of Africa’s biggest crude reserves, is ramping up output from its biggest oil field again after two years of internal conflict, the latest reminder of just how vulnerable OPEC’s quest to clear a global crude glut might be. More »
Forget Latin America, Asia is the biggest U.S. LNG buyer now
Asia’s finally becoming a prime destination for U.S. shale gas cargoes. More »
Tuesday, 3 January 2017
Petronas' PFLNG SATU reaches first gas milestone, offshore Sarawak
PETRONAS’ first floating liquefied natural gas facility, PFLNG SATU moored by SOFEC, Inc.’s external turret has achieved an industry breakthrough with the successful production of its first drop of LNG from Kanowit gas field, offshore Sarawak on Dec. 5, 2016. More »
geoLOGIC systems acquires Well Completions and Frac Database from Canadian Discovery
geoLOGIC systems, a portfolio company of BV Investment Partners, has announced that it has purchased Canadian Discovery Ltd.’s (CDL) Well Completions and Frac Database and related products, including its Direct Data Access add-on module and the Drilling Database. More »
Halliburton introduces depth-of-cut rolling element for PDC bits
Halliburton has introduced a depth-of-cut rolling element called Cruzer, designed to increase tool face control without reducing drilling efficiency. The element provides operators with the ability to increase ROP to lower cost per foot for improved economics. More »
Halliburton introduces first of its kind drill bit technology
Halliburton has announced the release of Cruzer depth-of-cut rolling element, an innovative drill bit technology designed to increase tool face control without reducing drilling efficiency. More »
Statoil completes acquisition of Wintershall’s Byrding interest
Statoil has completed its acquisition of Wintershall’s 25% interest in the Byrding project on the Norwegian Continental Shelf. As a result, Statoil’s operated interest in Byrding (PL090B) has increased from 45% to 70%. More »
Maersk Oil set to shutter Denmark's Tyra field in 2018
Maersk Oil is planning to halt production from Tyra field, Denmark’s largest gas field, during the fourth quarter of 2018. More »
Gulf Marine wins long-term contract in Middle East
Gulf Marine Services has secured a long-term contract for one of its mid-size class vessels. More »
SM Energy sells Eagle Ford assets for $800 million
SM Energy Company has entered into a definitive agreement with a subsidiary of Venado Oil and Gas, an affiliate of KKR, for the sale of the company's third-party operated assets in the Eagle Ford, including its ownership interest in related midstream assets, for a purchase price of $800 million. More »
Iran qualifies CNPC to Total for bidding on energy projects
Iran qualified 29 international oil companies to bid in upcoming tenders for crude and natural gas development projects as the Persian Gulf state seeks investment in energy. More »
Oil hits 18-month high as Kuwait, Oman fulfill OPEC cuts
Oil climbed to an 18-month high in New York as output cuts by Kuwait and Oman signaled OPEC and its partners are delivering on their agreement to stabilize the market. More »
Monday, 2 January 2017
Gulf energy companies reduce borrowing 26% as oil prices surge
Energy companies in the Middle East reduced their borrowing by 26% in 2016 as an increase in oil prices late in the year provided revenue needed for exploration and production. More »
Wärtsilä to increase operational safety and predictability for two MOL LNG Transport carriers
Wärtsilä has signed a ten-year maintenance agreement with MOL LNG Transport Europe Ltd., an affiliate of the Japanese MOL Group. More »
Wärtsilä increases operational safety and predictability for two MOL LNG Transport carriers
Wärtsilä has signed a ten-year maintenance agreement with MOL LNG Transport Europe Ltd., an affiliate of the Japanese MOL Group. More »
Legacy pressure pumping company BJ Services re-emerges
BJ Services has re-emerged as North America’s largest pure-play oilfield pressure pumping company. More »
Sunday, 1 January 2017
Biggest fourth-quarter gas rally in 16 years may spill into 2017
U.S. natural gas prices are on track to cap their biggest fourth-quarter rally in 16 years, turning the fuel into the best-performing commodity of the year. More »
Natural gas is 2016’s best-performing commodity amid cold blast
A polar blast that’s poised to sweep the U.S. has turned natural gas into the year’s best performer among major commodities. More »
Hedge funds bet oil rally to extend into 2017 as output cuts hit
Investors are showing no sign of turning their backs on oil heading into 2017. More »
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