UPDATE: Death Toll Raised To 79 In Mexico Pipeline Blast; New Focus On Fuel Theft
20 January 2019, 2:22pm
A blast at a gasoline pipeline in Mexico that killed at least 79 people has put renewed attention on the government's strategy to stop fuel theft, with some relatives saying fuel shortages stemming from the plan led people to risk their lives. Fuel thieves punctured the Tula-Tuxpan pipeline a few miles from one of Mexico's main refineries on Friday. Up to 800 people flocked to fill plastic containers from the 7-m (23-ft) gasoline geyser that ensued, officials said. A couple of hours later, it exploded. Mexican Health Minister Jorge Alcocer said on Jan. 20 the number of dead in the incident had risen to 79 people.
Read more... (source: www.epmag.com)


US Judge Blocks Atlantic Seismic Oil Permitting During Shutdown
18 January 2019, 10:17pm
A federal court judge on Jan. 18 ruled that the federal government cannot process seismic testing permits for offshore oil drilling during the ongoing government shutdown, dealing a blow Trump administration’s energy agenda. Judge Richard Gergel of the U.S. District Court in South Carolina issued the decision in response to a motion filed by a range of conservation and business groups and coastal cities opposed to the administration’s efforts to expand U.S. offshore drilling. The Justice Department had sought a delay in the court proceedings arguing that it did not have the resources it needed to work on the case during the shutdown.
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Nigeria’s NNPC Paid $993.7 Million Cash Call Arrears By September
18 January 2019, 7:12pm
Nigeria’s state oil firm said on Jan. 18 it had paid $993.7 million up to September in arrears owed to its joint ventures with multinational oil companies by September and still had to make up payments of $3.95 billion. The Nigerian National Petroleum Corp. (NNPC) said it was seeking to raise about $2.3 billion in financing from third parties, such as joint venture partners, to help cover costs. NNPC also said it was raising $3.15 billion through a firm called SEEPCO to develop 416 million barrels (MMbbl) of reserves from the Oil Mining License (OML) 13 field.
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US Oil Rig Count Falls By 21
18 January 2019, 6:34pm
U.S. energy firms cut 21 oil rigs this week, the biggest decline since February 2016, even as the United States is expected to reinforce its leadership as the world’s number one crude producer this year. Drillers cut 21 oil rigs in the week to Jan. 18, bringing the total count down to 852, the lowest since May 2018, Baker Hughes, a GE company, said in its closely followed report. Active rigs in the Permian Basin, the country's biggest shale oil formation, in Texas and New Mexico, dropped by seven this week to 481, the lowest since August. The rest of the decline occurred in smaller oil producing regions scattered across the country.
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India’s small-field bid round extended
18 January 2019, 6:29pm
India’s Directorate General of Hydrocarbons has extended for the second time the close of bidding for its second round of licensing of discovered small fields. Bidding remains open through Jan. 30, DGH said.
Read more... (source: www.ogj.com)


Baker Hughes: US rig count falls 25 units to 1,050
18 January 2019, 6:26pm
The US drilling rig count dropped 25 units to reach 1,050 rigs working for the week ended Jan. 18. The count is up 114 units from the 936 rigs working this time a year ago, according to Baker Hughes data.
Read more... (source: www.ogj.com)


Tunisia Plans To Nearly Double Gas Production In 2019
18 January 2019, 6:17pm
Tunisia will almost double production of natural gas to about 65,000 barrels of oil equivalent per day this year, the industry and energy minister, Slim Feriani, told Reuters on Jan. 18. The country’s gas output will jump from 35,000 barrels of oil equivalent per day when the southern Nawara gas field comes onstream in June, Feriani said. “We will raise our production by about 30,000 barrels of oil equivalent when the Nawara project in the south will start,” Feriani told Reuters in interview.
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IEA: Rebalancing of global oil market to be gradual
18 January 2019, 6:04pm
Despite the signing of a new Vienna Agreement, the journey to a balanced global oil market will take time and is more likely to be a marathon than a sprint, according to the International Energy Agency’s first Oil Market Report in 2019. On the supply side, IEA said, “While Saudi Arabia is determined to protect its price aspirations by delivering substantial production cuts, there is less clarity with regard to its Russian partner.”
Read more... (source: www.ogj.com)


Schlumberger Sees International Growth Ahead
18 January 2019, 5:50pm
A late year drop in oil prices as U.S. shale production surged, rising U.S. interest rates, an equity market selloff and the negative impact of geopolitics on global supply and demand collided to cause what Schlumberger (NYSE: SLB) CEO Paal Kibsgaard called a near-perfect storm by year-end 2018. But the head of the world’s largest oilfield service company believes market conditions will improve this year after a rough start, although oil price volatility has clouded the 2019 E&P spending outlook with more companies expected to guard their wallets and exercise capital discipline. Signaling better months ahead, Kibsgaard pointed to production cuts by OPEC and Russia taking effect, lower activity in North America and rising oil prices. Oil prices are rebounding from their fourth-quarter fall. The price for a barrel of Brent crude plummeted from above $80 in September to around $51 by the end of December. Reuters reported Jan. 18 that futures were on track for a third straight week of gains, with Brent crude up to $62.82 just before midday, with U.S. West Texas Intermediate crude futures were up to $53.77.
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Aramco taps Saipem for Berri, Marjan work
18 January 2019, 5:47pm
Saudi Aramco has let contracts to Saipem for offshore work expanding Berri and Marjan oil fields. The contracts, totaling $1.3 billion, cover design, engineering, procurement, construction, installation, and implementation of subsea systems and the laying of pipelines, subsea cables and umbilicals, platform decks, and jackets.
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Rystad Energy: Global gas output hit highest growth in a decade in 2018
18 January 2019, 5:34pm
The worldwide oil and gas industry achieved a net production increase of 164 billion cu m (bcm) in 2018, representing the highest production growth since 2010, according to research by Rystad Energy.
Read more... (source: www.ogj.com)


Schlumberger To Abandon Russia’s EDC Bid If Approvals Not Met Soon
18 January 2019, 4:10pm
Schlumberger NV (NYSE: SLB) said on Jan. 18 it would withdraw its application for the acquisition of a stake in Russia’s Eurasia Drilling Co. (EDC) if it is not successful in getting approvals soon.
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Aker BP to drill 15 exploration wells in 2019. Plans to triple output by 2025
18 January 2019, 2:45pm
Norwegian oil company Aker BP is raising its growth ambitions on the back of what it says is a strong performance in 2018. Aker BP on Friday said it plans to organically triple its production by... ...
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IEA: US Crude Gains, Slowing Global Economy Challenge Oil Market In 2019
18 January 2019, 2:06pm
U.S. oil production growth combined with a slowing global economy will put oil prices under downward pressure in 2019, challenging OPEC’s resolve to support the market with output cuts, the International Energy Agency said on Jan. 18.
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China’s CNOOC To Double Domestic Proven Reserves, Exploration Work By 2025
18 January 2019, 1:56pm
China National Offshore Oil Co., or CNOOC, said on Jan. 18 it aims to double its exploration activities and proven oil and gas reserves in China over the next seven years, a target that will see the state oil firm expedite capital spending.
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Report: Thang Long JOC hires PV Drilling jack-up rig
18 January 2019, 1:36pm
Thang Long Joint Operation Corporation has reportedly awarded a contract for one of PV Drilling's jack-up rigs. ...
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Shell picks subsea compression option for Ormen Lange field
18 January 2019, 1:11pm
Shell has chosen subsea compression as a concept for the third phase of the Ormen Lange field development, located 140 kilometers north-west of Kristiansund, in the Norwegian Sea. Rich Denny, CEO of... ...
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EIA forecasts renewables will be fastest growing source of electricity generation
18 January 2019, 1:00pm
EIA expects non-hydroelectric renewable energy resources such as solar and wind will be the fastest growing source of U.S. electricity generation for at least the next two years. EIA’s January 2019 Short-Term Energy Outlook (STEO) forecasts that electricity generation from utility-scale solar generating units will grow by 10% in 2019 and by 17% in 2020. According to the January STEO, wind generation will grow by 12% and 14% during the next two years. EIA forecasts total U.S. electricity generation across all fuels will fall by 2% this year and then show very little growth in 2020.
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Report: Dragon Oil takes Prime Exerter jack-up on a 3-year deal in Turkmenistan
18 January 2019, 12:54pm
Oil company Dragon oil has reportedly agreed to hire the Prime Exerter jack-up rig on a three-year contract. Bassoe Offshore, Norway-based rig broker, shows on its website that the rig would start... ...
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Fugro to use ‘Edda Sun’ for IRM project
18 January 2019, 11:05am
Fugro, a Dutch provider of offshore and onshore geotechnical and survey services, will start a new IRM contract in March 2019. ...
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BOEM employees preparing offshore lease sale during gov’t shutdown
18 January 2019, 11:04am
U.S. Bureau of Ocean Energy Management last week said it would have more than 120 people working on permitting operations and on preparation for the upcoming Gulf of Mexico licensing round. This is... ...
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Equinor to halve CO2 emissions on NCS by 2030
18 January 2019, 9:47am
Equinor has revealed plans to halve CO2 emissions from its logistical operations on the NCS by 2030. ...
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Saipem clinches $1.3B offshore work with Saudi Aramco
18 January 2019, 8:53am
Italian oilfield services giant Saipem has won two engineering, procurement, installation, and construction contracts with Saudi Aramco worth $1.3 billion. The contracts were awarded under the Long... ...
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Equinor awards Peregrino well management deal to Schlumberger
18 January 2019, 8:31am
Oil services company Schlumberger has won a contract from Equinor for total well delivery on the Peregrino C platform in the Campos basin offshore Brazil. ...
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Total converts Avalon into Frontier Exploration License (Ireland)
18 January 2019, 8:21am
Irish oil and gas company Providence has informed that the Total-operated licensing option 16/27 offshore Ireland has been granted a Frontier Exploration License Status 2/19, with effect from... ...
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Ensco postpones general meeting as Rowan evaluates new bid
18 January 2019, 7:35am
Offshore drilling company Ensco has decided to postpone its general meeting originally scheduled for January 23, 2019. ...
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Chart: Gulf Coast Rig Count As Of January 18, 2019
18 January 2019, 6:00am
Interior Gulf Coast Count as of September 12, 2014  DateAlabamaArkansasN. LouisianaS. LouisianaMississippiFEBRUARY 1451223189FEBRUARY 21512231312FEBRUARY 28512261012MARCH 751227109MARCH 14512271112MARCH 21512291211MARCH 28412271513APRIL 4412251514APRIL 11511241813APRIL 18512252314APRIL 25512242213MAY 2511272213MAY 9512271813MAY 16512281912MAY 23711291710MAY 30711291710JUNE 6711291610JUNE 13711261411JUNE 20711261611JUNE 27611261512JULY 3611251415JULY 10611251315JULY 18611271515JULY 25611291715AUGUST 1611271315AUGUST 8611311215AUGUST 15611311914AUGUST 22612301914AUGUST 29611291913SEPTEMBER 5612291713SEPTEMBER 12412291514 Created By: Larry Prado - EditorSource: Baker Hughes
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Chart: Midcontinent, Permian Basin Rig Count As Of Janurary 18, 2019
18 January 2019, 6:00am
Mid-Continent Rig Count as of September 5, 2014DateKansasOklahomaFEBRUARY 1433182FEBRUARY 2132181FEBRUARY 2830181MARCH 731182MARCH 1429186MARCH 2129183MARCH 2829188APRIL 427193APRIL 1127192APRIL 1828187APRIL 2529191MAY 231195MAY 933192MAY 1631195MAY 2332191MAY 3031199JUNE 631198JUNE 1333200JUNE 2033200JUNE 2732208JULY 329209JULY 1031198JULY 1830200JULY 2530203AUGUST 127209AUGUST 826211AUGUST 1526209AUGUST 2228208AUGUST 2925212SEPTEMBER 523213SEPTEMBER 1225213 Created By: Larry Prado - EditorSource: Baker Hughes
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Chart: Western Rig Count As of January 18, 2019
18 January 2019, 6:00am
Rocky Mountain Rig Count as of September 12, 2014 DateColoradoMontanaNew MexicoNorth DakotaUtahWyomingFEBRUARY 14608831682651FEBRUARY 21608811662651FEBRUARY 28628821682653MARCH 7617811702753MARCH 14617851772753MARCH 21617861792853MARCH 28637881782750APRIL 4627901782749APRIL 11627911782749APRIL 18627891782749APRIL 25648911792750MAY 2648901762749MAY 9658911742745MAY 16659891742745MAY 23669871742745MAY 30669861692547JUNE 6659861692748JUNE 13655911692751JUNE 20685901702751JUNE 27676901712751JULY 3687921712751JULY 10687921722752JULY 18696901782762JULY 25696941782752AUGUST 1688951772559AUGUST 8718941822548AUGUST 15758941852355AUGUST 22748941832356AUGUST 29758941832356SEPTEMBER 5748961832357SEPTEMBER 12758981852357Created By: Larry Prado - EditorSource: Baker Hughes
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Chart: Eastern Rig Count As Of January 18, 2019
18 January 2019, 6:00am
Appalachian Basin Rig Count as of September 12, 2014DateNew YorkOhioPennsylvaniaVirginiaWest VirginiaFEBRUARY 1404053030FEBRUARY 2103954030FEBRUARY 2803052027MARCH 704153025MARCH 1404154025MARCH 2103956023MARCH 2803851026APRIL 403659023APRIL 1103854026APRIL 1803550073APRIL 2503657026MAY 203558028MAY 903658027MAY 1603960025MAY 2303960025MAY 3003860025JUNE 603957025JUNE 1303859026JUNE 2004057025JUNE 2704159025JULY 304154027JULY 1004256026JULY 1804455026JULY 2504353027AUGUST 104354027AUGUST 804351026AUGUST 1504251029AUGUST 2204250030AUGUST 2904155029SEPTEMBER 504157029SEPTEMBER 1204258029Created By: Larry Prado - EditorSource: Baker Hughes
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Traders Sold German Gas That Never Showed Up
18 January 2019, 12:00am
Several natural gas traders last year sold the fuel into Germany's pipeline network, but now an investigation is under way.
Read more... (source: www.rigzone.com)


MEG Plans to Spend Less and Boost Oil Output
18 January 2019, 12:00am
MEG Energy Corp. looks to be on its own again after Husky Energy Inc. pulled its hostile bid for the Canadian oil-sands producer.
Read more... (source: www.rigzone.com)


US Drops 25 Oil and Gas Rigs This Week
18 January 2019, 12:00am
This marks the third consecutive week of rig declines for the US.
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Oil Hits Two-Month High
18 January 2019, 12:00am
Oil prices climbed to a two-month high as China was said to offer a trillion-dollar buying spree to defuse trade tensions with the world’s biggest economy.
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Oil is Going to be Very Much Demand Driven
18 January 2019, 12:00am
Oil is going to be very much demand driven, according to Arqaam Capital.
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Saipem Bags Deals Worth Approximately $1.3B
18 January 2019, 12:00am
Saipem has secured 2 EPIC contracts (Engineering, Procurement, Installation, Construction) with Saudi Aramco worth approximately $1.3 billion.
Read more... (source: www.rigzone.com)


Ensco and Rowan Extend Time to Decide on Merger
18 January 2019, 12:00am
The two companies have convened and adjourned its general meeting in which they were scheduled to approve resolutions on their merger.
Read more... (source: www.rigzone.com)


Saudi Arabia in Talks to Build Refinery in South Africa
18 January 2019, 12:00am
Saudi Arabia is in talks to build an oil refinery in South Africa as part of a pledge.
Read more... (source: www.rigzone.com)


IEA Sees Oil Demand Growth Defying Slowing Economy
18 January 2019, 12:00am
Global oil demand remains on course to be stronger this year than in 2018 as a boost from lower fuel prices counters slowing economic activity, according to the IEA.
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Former US Commerce Secretary To Lead Partnership Helping Permian Basin Residents
17 January 2019, 7:10pm
Former U.S. Commerce Secretary and energy executive Don Evans will chair a partnership of oil and gas firms that have pledged $100 million toward easing the civic strain of the shale oil and gas boom in West Texas and New Mexico, the group said Jan. 17. The Permian Strategic Partnership was formed late last year to ease the strain on health care, education, housing and the workforce created by companies flocking to the Permian Basin. Its 19 members include Exxon Mobil Corp. (NYSE: XOM), ConocoPhillips Co. (NYSE: COP), Occidental Petroleum Corp. (NYSE: OXY), Pioneer Natural Resources Co. (NYSE: PXD) and Royal Dutch Shell Plc (NYSE: RDS.A). The nation's largest oil field is expected to pump 3.8 million barrels of oil per day this month, according to the U.S. Energy Information Administration.
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PGNiG to explore for, produce hydrocarbons in UAE
17 January 2019, 6:24pm
PGNiG SA will explore for and produce hydrocarbons in Ras Al Khaimah—the northernmost member of the United Arab Emirates—under a production-sharing agreement signed by PGNiG, the Ras Al Khaimah Petroleum Authority, and Rak Gas LLC.
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Gulf Keystone initiates expansion program at Shaikan field
17 January 2019, 6:12pm
Gulf Keystone Petroleum has initiated an investment program at its operated Shaikan field in the Kurdistan region of Iraq and is progressing plans to increase production to 55,000 b/d. Average gross oil production of 31,563 b/d in 2018 is underpinned by strong performance of the Shaikan Jurassic reservoir, and is in line with expectations, the company said.
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Aker BP Promotes David Torvik Tønne To CFO
17 January 2019, 6:10pm
Aker BP said Jan. 17 that David Torvik Tønne is joining the Norwegian E&P’s executive management team as CFO as part of a reorganization of the company’s finance functions. As a result, the company’s former CFO, Alexander Krane, is set to move to a position as investment director at Aker ASA, a Norwegian holding company that holds a 40% stake in Aker BP. CEO Karl Johnny Hersvik said in a statement: “Alexander has been fundamental in building Aker BP as we see it today. I’ve been working closely with Alexander since 2014. His efforts, abilities and enormous capacity has been invaluable to me.”
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Gullfaks partners submit PDO for more oil recovery
17 January 2019, 5:58pm
Equinor and its partners in Gullfaks oil field in the Norwegian North Sea’s Tampen area will drill 7 wells believed to improve oil recovery by 17 million bbl with good profitability. The amended plan for development and operation submitted to Norway’s Ministry of Petroleum and Energy calls for additional resource recovery with water injection and production wells in the Shetland-Lista Phase 2 development.
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BOEM employees work on preparing offshore lease sales during shutdown
17 January 2019, 5:14pm
US Bureau of Ocean Energy Management employees have continued to work on upcoming federal offshore oil and lease sales despite the partial government shutdown that has closed much of the Department of the Interior. BOEM’s updated Fiscal 2019 Contingency Plan for a shutdown called for 124 excepted employees to be available to handle administrative services, emergency response, and support.
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MARKET WATCH: NYMEX oil price gains slightly to stay above $52/bbl
17 January 2019, 4:27pm
Light, sweet crude oil prices gained modestly on the New York market Jan. 16 after a US government report showed crude oil supplies fell sharper than expected while product inventories rose for the week ended Jan. 11.
Read more... (source: www.ogj.com)


Petrobras board nominee declines position after insider trading reports resurface
17 January 2019, 3:22pm
Forman was fined 338.000 Brazilian reals in 2016 for insider trading ...
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PGNiG to explore for oil and gas in UAE
17 January 2019, 2:24pm
Polish oil and gas company PGNiG SA has signed an agreement with the emirate of Ras al Kaimah, UAE, to explore for and produce hydrocarbons in the Block 5. Piotr Woźniak, President of the PGNiG... ...
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Shell picks new director of upstream business
17 January 2019, 1:35pm
Oil giant Shell has appointed a new director of its upstream business. ...
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Rystad Energy: Offshore spending to outrun shale in 2019
17 January 2019, 1:31pm
Rystad Energy has predicted that offshore spending would outgrow spending on onshore shale activities in 2019. ...
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EIA expects relatively flat natural gas prices, continued record production through 2020
17 January 2019, 1:00pm
EIA’s January 2019 Short-Term Energy Outlook (STEO) expects several U.S. natural gas market trends from 2018 to continue into 2019 and 2020, including relatively stable Henry Hub natural gas prices and increasing natural gas production and exports. According to the STEO, total U.S. natural gas consumption is expected to increase slightly through 2020, with increases in the electric and industrial sectors offsetting decreases in the residential and commercial sectors.
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Diamond Offshore, OneSubsea clinch Julimar work
17 January 2019, 9:30am
Australian oil and gas company Woodside has awarded Julimar Phase 2 execute contracts in Australia. In a quarterly update on Wednesday, Woodside said that the contracts were awarded to... ...
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World’s largest semi-sub rig arrives in Scotland ahead of North Sea gig
17 January 2019, 9:21am
After a five-month journey from Singapore via the Canary Islands, Diamond Offshore’s semi-submersible drilling rig Ocean GreatWhite has arrived at Kishorn, Scotland.  ...
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Aker BP transfers Ivar Aasen operations to onshore control room
17 January 2019, 8:07am
Aker BP has become the first company on the NCS to operate a staffed platform from an onshore control room. ...
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Bureau Veritas to provide inspection services on Neptune’s Fenja
17 January 2019, 8:03am
Bureau Veritas has been awarded a four-year contract with Neptune Energy for inspection services on the Fenja development. ...
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Petrobras’ 2018 oil and gas production ‘in line with set goals’
17 January 2019, 8:00am
Brazilian oil giant Petrobras has reached a new record for annual production of operated oil and natural gas in 2018. ...
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Barakah to maintain Petrofac’s offshore facilities in Malaysia
17 January 2019, 7:54am
Under the agreement, Barakah will be providing services to Petrofac in Malaysia by 2023. ...
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Seacor Marine gets three PSVs from COSCO
17 January 2019, 7:21am
Seacor Marine has entered into definitive agreements to acquire three platform supply vessels from COSCO Zhoushan. ...
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Aker BP shakes up financial positions
17 January 2019, 5:30am
Norwegian E&P player Aker BP has made several changes to financial functions in the company. ...
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US Will Likely Grant Fewer Waivers in May
17 January 2019, 12:00am
The United States will likely grant fewer waivers to buyers of Iranian oil when they're up for renewal in May, according to IHS Markit.
Read more... (source: www.rigzone.com)


Oil Retreats Near $52
17 January 2019, 12:00am
Oil retreated near $52 a barrel as investors assessed surging U.S. production against output curbs pledged by some of the world's top suppliers.
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Shell Appoints New Upstream Director
17 January 2019, 12:00am
Shell appoints Wael Sawan as its new upstream director.
Read more... (source: www.rigzone.com)


China Petchems Contract Goes to Honeywell
17 January 2019, 12:00am
Honeywell exec says complex will help China approach paraxylene self-sufficiency.
Read more... (source: www.rigzone.com)


Mexican Driller Latina Is Said to Bid for Pemex Contract
17 January 2019, 12:00am
Latina Offshore is working along with one of the consortia invited by Pemex to submit offers for oil-services contracts, according to sources.
Read more... (source: www.rigzone.com)


Saudi Aramco and Total JV to Hire SMBC to Advise on Funding
17 January 2019, 12:00am
Satorp, the joint venture between Saudi Aramco and Total, hired Sumitomo Mitsui Banking Corp. and Riyad Bank to help raise funds.
Read more... (source: www.rigzone.com)


Husky Ends MEG Takeover Bid
17 January 2019, 12:00am
Husky Energy abandons its hostile bid to acquire MEG Energy Corp after failing to win support from shareholders and the board of the rival oil-sands producer.
Read more... (source: www.rigzone.com)


Bureau Veritas Wins Offshore Norway Contract
17 January 2019, 12:00am
Bureau Veritas will provide second- and third-party inspection services for the Fenja development.
Read more... (source: www.rigzone.com)


Crude Oil Settles Lower
17 January 2019, 12:00am
The American Petroleum Institute also reported a sharp year-on-year increase in well completions.
Read more... (source: www.rigzone.com)


Oil May Bring 400,000 Jobs and $258B in Investments to Brazil
17 January 2019, 12:00am
The secretary general of the Brazilian Institute of Petroleum, Gas and Biofuels said that in the next few years, the oil industry will bring more jobs and investments to Rio de Janeiro.
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US Crude Oil Exports Continue to Grow
17 January 2019, 12:00am
The US DOI now reports that domestic crude production could surge to 14 MMbpd by 2020.
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EIA expects modest global oil inventory builds in 2019-20
16 January 2019, 6:40pm
Global liquid fuels production will average 101.8 million b/d in 2019 and 103.5 million b/d in 2020, and consumption will average 101.5 million b/d in 2019 and 103.1 million b/d in 2020, which will contribute to modest inventory builds in both years, according to the US Energy Information Administration’s latest Short-Term Energy Outlook. The STEO for January is the first to include forecasts for 2020.
Read more... (source: www.ogj.com)


Equinor reports gas, condensate discovery south of Kristin field
16 January 2019, 6:24pm
Equinor has, together with partners ExxonMobil, Total, and Norway’s Petoro, made a natural gas and condensate discovery with the Ragnfrid North (6406/2-9 S) exploration well in the Norwegian Sea. The well, drilled in production license 199 about 20 km south of the Kristin platform, will be evaluated for development and tie-in to Kristin field and further maturing of the Kristin South project.
Read more... (source: www.ogj.com)


Woodside lets contracts for Scarborough project
16 January 2019, 5:29pm
Woodside Petroleum Ltd., Perth, has let four contracts for the front-end engineering and design phase of its proposed Scarborough gas development on the Exmouth Plateau off Western Australia.
Read more... (source: www.ogj.com)


Rystad Energy: Offshore service market growth to outpace shale in 2019
16 January 2019, 5:16pm
Rystad Energy forecasts offshore spending will outgrow spending on onshore shale activities this year. Service companies exposed to the offshore subsea market and the maintenance, modifications, and operations (MMO) sector are set to benefit from this trend reversal.
Read more... (source: www.ogj.com)


CNOOC starts production from Huizhou development project
16 January 2019, 4:25pm
CNOOC Ltd. reported the start of production from the Huizhou 32-5 oil field comprehensive adjustment/Huizhou 33-1 oil field joint development project in the south-central part of the eastern South China Sea.
Read more... (source: www.ogj.com)


MARKET WATCH: NYMEX oil price tops $52/bbl, Brent tops $60/bbl
16 January 2019, 4:08pm
Crude oil benchmarks jumped more than $1/bbl on the New York and London markets Jan. 15 with light, sweet crude oil prices for February and March settling above $52/bbl while Brent crude for March and April settled above $60/bbl in London.
Read more... (source: www.ogj.com)


Subsea alliance wins ExxonMobil job in Australia
16 January 2019, 3:33pm
Subsea Integration Alliance has been awarded contracts for integrated subsea engineering, procurement, construction, installation and commissioning (EPCIC) by ExxonMobil. ...
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Talos to bring fresh Tornado well online by early 2Q
16 January 2019, 2:32pm
U.S.-based Talos Energy will start up the Tornado 3 well by early second quarter 2019. ...
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Equinor moving West Phoenix rig to UK for 3-well campaign
16 January 2019, 2:06pm
Seadrill's drilling rig West Phoenix is now being moved from Norway to the UK Continental Shelf to start operations on a three-well drilling campaign for Equinor. ...
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Wellesley gains drilling permit for North Sea well
16 January 2019, 1:11pm
The Norwegian Petroleum Directorate has granted Wellesley Petroleum a drilling permit for a wildcat well in the North Sea. ...
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Tullow to boost Ghana output with seven new wells
16 January 2019, 1:02pm
Tullow Oil has announced its plans to drill and complete seven new wells on the TEN and Jubilee fields to increase oil production from Ghana. ...
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EIA forecasts world crude oil prices to rise gradually, averaging $65 per barrel in 2020
16 January 2019, 1:00pm
EIA’s January Short-Term Energy Outlook forecasts that world benchmark Brent crude oil will average $61 per barrel (b) in 2019 and $65/b in 2020, an increase from the end of 2018, but overall it will remain lower than the 2018 average of $71/b. U.S. benchmark West Texas Intermediate (WTI) crude oil prices were $8/b lower than Brent prices in December 2018, and EIA expects this difference to narrow to $4/b in the fourth quarter of 2019 and throughout 2020.
Read more... (source: www.eia.gov)


Seadrill bags six-well deal offshore Ivory Coast
16 January 2019, 12:40pm
Offshore drilling contractor Seadrill Partners has secured a six-well contract with three option wells offshore Cote d'Ivoire.  ...
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CNOOC starts production from South China Sea project
16 January 2019, 12:09pm
CNOOC Limited has started production from the Huizhou 32-5 oilfield comprehensive adjustment/Huizhou 33-1 oilfield joint development project located in the South China Sea. ...
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Oil Search expands Alaskan portfolio
15 January 2019, 9:19pm
Oil Search Ltd., Port Moresby and Sydney, has expanded its acreage position on the North Slope of Alaska following the recent 2018 Alaska Lease round with the acquisition of interests in prospective blocks close to and adjacent to its existing position in the Pikka Unit east of Prudhoe Bay.
Read more... (source: www.ogj.com)


Equinor, Aker BP dominate Norwegian licensing round
15 January 2019, 5:40pm
Equinor and Aker BP dominated awards by Norway’s Ministry of Petroleum as part of the Award in Predefined Areas (APA) for 2018 held Jan. 15. Thirty-three companies were offered ownership interests in 83 production licenses on the Norwegian Continental Shelf—the largest number ever awarded in one licensing round, according to the Norwegian Petroleum Directorate. Twenty-one of the companies will be offered operatorship.
Read more... (source: www.ogj.com)


Colorado Supreme Court reverses impact analysis requirement ruling
15 January 2019, 5:18pm
The Colorado Supreme Court reversed a lower court’s decision that would have required the Colorado Oil & Gas Conservation Commission to consider potential health and climate impacts before authorizing more exploration and production. The suit was filed after COGCC rejected a late-2013 petition asking it to reject applications for new drilling permits unless they did not pose a human health or climate threat.
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SDX: Appraisal well encounters oil offshore Egypt
15 January 2019, 4:24pm
SDX Energy Inc. reported its SRM-3 appraisal well encountered oil on the South Ramadan license offshore Egypt in the Gulf of Suez. The operator is Pico. SDX has a 12.75% interest.
Read more... (source: www.ogj.com)


MARKET WATCH: Crude oil prices fall on slowing Chinese economic indicators
15 January 2019, 4:00pm
The light, sweet crude oil price for February dropped more than $1 on the New York market Jan 14 to settle just above $50.50/bbl while Brent crude for March dropped nearly $1.50 to settle just under $59/bbl in London.
Read more... (source: www.ogj.com)


Changes in marine fuel sulfur limits will put temporary upward pressure on diesel margins
15 January 2019, 1:00pm
The January 2019 Short-Term Energy Outlook (STEO), released at noon today, for the first time includes analysis of the effect that upcoming changes to marine fuel sulfur specifications will have on crude oil and petroleum product markets. Beginning January 1, 2020, the International Maritime Organization’s (IMO) new regulations limit the sulfur content in marine fuels used by ocean-going vessels to 0.5% by volume, a reduction from the previous limit of 3.5%. The change in fuel specification is expected to put upward pressure on diesel margins and modest upward pressure on crude oil prices in late 2019 and early 2020. EIA’s analysis indicates that the price effects that result from implementing this new standard will be most acute in 2020 and will diminish over time.
Read more... (source: www.eia.gov)


Watching Government: Offshore oil, gas foes’ bills
14 January 2019, 9:25pm
US House Democrats wasted little time before seven of them introduced bills on Jan. 8 aimed at keeping oil and gas exploration from expanding off their coastal states’ shores. The federal measures came as state legislators in Connecticut, Georgia, Hawaii, Maine, Massachusetts, New Hampshire, New York, Oregon, and Rhode Island announced a coordinated effort to limit any new capabilities offshore their states.
Read more... (source: www.ogj.com)


IEA revises downward non-OPEC supply growth forecast
14 January 2019, 9:22pm
In its latest monthly oil market report, the International Energy Agency has revised its 2019 non-OPEC supply growth forecast down by 415,000 b/d to 1.5 million b/d, partly due to expected cuts from Russia and to lower growth in Canada.
Read more... (source: www.ogj.com)


Western Gas signs MOU for Equus gas project off Western Australia
14 January 2019, 9:16pm
Privately held Western Gas Corp. Pty. Ltd., Perth, has signed a memorandum of understanding with international service companies McDermott and Baker Hughes to be exclusive development partners for the Equus gas project offshore northwest Western Australia (OGJ Online, May 15, 2018).
Read more... (source: www.ogj.com)


BP approves expansion at Atlantis field in Gulf of Mexico
14 January 2019, 8:45pm
BP PLC approved a $1.3-billion expansion at Atlantis field in the Gulf of Mexico and said recent seismic imaging identified 1 billion bbl of additional oil in place at Thunder Horse field. Elsewhere in the gulf, two discoveries near Na Kika platform provide additional development opportunities.
Read more... (source: www.ogj.com)


Eni wins Sharjah blocks, expands elsewhere
14 January 2019, 7:42pm
Eni SPA has been awarded the three blocks offered in Sharjah’s first international competitive exploration licensing round while expanding further in the Middle East with deals in Oman and Bahrain. Eni will operate 437-sq-km Concession Area A and 1,184-sq-km Concession Area C with 75% participating interests. Sharjah National Oil Corp. will hold the remaining interests. In 264-sq-km Area B, SNOC will be operator with a 50% interest, and Eni will hold the remainder.
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LLOG Exploration reports deepwater gulf discovery
14 January 2019, 7:16pm
LLOG Exploration Co. LLC, Covington, La., reported the drilling of a successful discovery on its Nearly Headless Nick exploratory prospect on Mississippi Canyon Block 387 in the deepwater Gulf of Mexico.
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ADNOC awards two offshore exploration blocks to Eni, PTTEP consortium
14 January 2019, 6:40pm
Abu Dhabi National Oil Co. has awarded two offshore blocks to a consortium led by Eni and PTT Exploration & Production following a competitive bid round. The two blocks in the northwest of Abu Dhabi—Offshore 1 and Offshore 2—are the first to be awarded among the geographical areas that were offered for commercial bidding by ADNOC in April 2018 as part of Abu Dhabi’s first competitive open block licensing strategy.
Read more... (source: www.ogj.com)


MARKET WATCH: Crude oil benchmarks end week with price drop
14 January 2019, 4:03pm
The light, sweet crude oil price for February dropped $1/bbl on the New York market Jan 11 while Brent crude settled more than $1/bbl lower on London’s Intercontinental Exchange. Price declines by the benchmarks ended more than a week of consecutive price gains.
Read more... (source: www.ogj.com)


Natural gas-burning power plant operations vary during periods of cold weather
14 January 2019, 1:00pm
Power generation in New England and New York is largely dependent on natural gas, which accounts for more than half of the region’s electricity generating capacity. About 58% of New England’s natural gas capacity has dual-fuel capability, meaning it can switch to other fuels such as petroleum-based fuels. Data from the U.S. Environmental Protection Agency’s (EPA) continuous emissions monitoring system (CEMS) reveals how certain plants in New England and New York switch between fuels in certain situations.
Read more... (source: www.eia.gov)


OGJ Newsletter
14 January 2019, 6:00am
International news for oil and gas professionals
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Baker Hughes: Canada gains 108 rigs for the week
11 January 2019, 6:48pm
Canada has added 108 rigs for the week ended Jan. 11, according to Baker Hughes data. While the large jump puts the total number of rigs running at 184, the count is less than the 276 units drilling this week a year ago.
Read more... (source: www.ogj.com)


Saudi Arabia reports post-audit reserves of 268.5 billion bbl
11 January 2019, 6:41pm
Saudi Arabia reported that it now holds 268.5 billion bbl of proved crude oil reserves—a figure higher than the previously reported 266.3 billion bbl. Saudi Arabia’s Energy Ministry also revised upward the country’s natural gas reserves to 325.1 tscf as of yearend 2017.
Read more... (source: www.ogj.com)


Premier Oil updates drilling in Zama field off Mexico
11 January 2019, 5:34pm
Premier Oil says the first appraisal well in Zama field on Mexico’s offshore Block 7 encountered the main Zama reservoir. Separately in Mexico, Premier Oil plans a 3D seismic survey across offshore Block 30 starting in the second quarter.
Read more... (source: www.ogj.com)


Rystad Energy: Haynesville shale set to surpass 2011 gas output record
11 January 2019, 5:27pm
Natural gas production in Louisiana will soon reach record heights thanks to an outstanding resurgence of the Haynesville shale play. Rystad Energy research shows that the Haynesville shale alone was able to add 1.85 bcfd of gross gas production between fourth-quarter 2016 and fourth-quarter 2017. Another 1.3 bcfd was added last year. Production needs to increase by another 700 MMbcfd to reach new all-time highs.
Read more... (source: www.ogj.com)


MARKET WATCH: Crude oil benchmarks continue gaining on production cuts
11 January 2019, 4:12pm
The light, sweet crude oil price for February rose for a ninth consecutive day on Jan 10, settling above $52/bbl. That was a 4-week high on the New York futures market and the longest gain in 9 years, which analysts attributed to lessening concerns about oil oversupply amid weaker demand.
Read more... (source: www.ogj.com)


Mol Norge-operated well comes up dry in North Sea
10 January 2019, 6:48pm
Mol Norge has plugged exploration well 2/6-6S, which was targeting the Oppdal-Driva prospect in production license 860 in the North Sea. Both targets were dry.
Read more... (source: www.ogj.com)


Jadestone ready to restart Montara field oil production
10 January 2019, 5:50pm
Singapore-based Jadestone Energy Inc. has completed work required for the restart of production from Montara oil field in the Timor Sea following an extensive maintenance and inspection shutdown. The facilities are now undergoing the final stages of pressure testing to ensure asset integrity and a safe resumption of production.
Read more... (source: www.ogj.com)


ConocoPhillips lets rig contract to Rowan
10 January 2019, 5:14pm
ConocoPhillips Skandinavia AS has let a contract to Rowan Cos. for the Rowan Norway jack up rig. The contract, subject to partner approval, is expected to begin in this year’s second quarter with an estimated duration of 7 months.
Read more... (source: www.ogj.com)


MARKET WATCH: Oil prices rise on reassuring comments from Saudi Arabia
10 January 2019, 4:53pm
The light, sweet crude oil price for February broke through the $50/bbl mark on Jan. 9, settling above $52/bbl on the New York market while the Brent crude oil price for March moved above $61/bbl. This eighth straight day of increases is attributed, in part, to comments about crude output reduction made by Saudi Energy Minister Khalid al-Falih.
Read more... (source: www.ogj.com)


EIA STEO revises Brent, WTI oil price forecasts downward for 2019
9 January 2019, 7:10pm
In its latest Short-Term Energy Outlook (STEO), the US Energy Information Administration has revised its 2019 price forecasts for Brent and West Texas Intermediate to $61/bbl and $54/bbl, respectively, which are both $11/bbl lower than forecast in the STEO for November.
Read more... (source: www.ogj.com)


Doriemus farms in to onshore Canning play
9 January 2019, 6:34pm
Doriemus PLC, London, has signed a binding letter of intent with Rey Resources Ltd., Sydney, to farm in to onshore Canning basin permit EP 487 in northwest Western Australia as well as a separate farmin to nearby Kora West oil field in production license L-15.
Read more... (source: www.ogj.com)


South Carolina AG joins suit to stop seismic tests offshore state
9 January 2019, 5:56pm
South Carolina Atty. Gen. Alan M. Wilson moved in federal court on Jan. 7 to have the state join 16 cities and towns’ lawsuit to stop oil and gas seismic surveys in the state’s offshore areas. This lawsuit is separate from one by environmental groups and other organizations in which Maryland Atty. Gen. Brian E. Frosh and eight other Mid-Atlantic states’ AGs intervened nearly 2 weeks earlier.
Read more... (source: www.ogj.com)


Baker Hughes: International rig count rises 34 units in December
9 January 2019, 5:02pm
The international rig count for December reached 1,025, up 34 units from the 991 rigs counted in November and up 71 units from the 954 rigs counted in December 2017, according to Baker Hughes data. The international offshore rig count for December was 234, up 28 units from the 206 counted in November, and up 43 from the 191 counted in December 2017.
Read more... (source: www.ogj.com)


BP lets contract for Atlantis Phase 3 in Gulf of Mexico
9 January 2019, 4:53pm
BP PLC has let a contract to TechnipFMC to provide integrated engineering, procurement, construction, and installation services for the Atlantis Phase 3 project in the Gulf of Mexico. BP recently approved a $1.3-billion expansion at the field. BP operates Atlantis and holds 56% interest while BHP holds 44% interest. BHP has yet to commit to a final investment decision.
Read more... (source: www.ogj.com)


API’s new president cites progress, outlines challenges for 2019
8 January 2019, 10:14pm
Responsible operations and steadily improving technology have combined to make the US the world’s leading oil and gas producer, said American Petroleum Institute Pres. Mike Sommers in his first major public address on Jan. 8. But carefully conceived policies and improved permitting processes will be necessary to keep the progress going, he told more than 400 attendees at API’s 2019 State of American Energy event.
Read more... (source: www.ogj.com)


Oil market to be relatively balanced amid heightened complexity in 2019
8 January 2019, 9:44pm
Following a sharp decline in oil prices and the Organization for Economic Cooperation and Development stocks returning above their 5-year average, the Organization of Petroleum Exporting Countries and 10 non-OPEC producers agreed to cut production by 1.2 million b/d relative to October 2018 levels for 6 months beginning on Jan. 1.
Read more... (source: www.ogj.com)


BP approves expansion at Atlantis field in Gulf of Mexico
8 January 2019, 5:28pm
BP PLC approved a $1.3-billion expansion at Atlantis field in the Gulf of Mexico and said recent seismic imaging identified 1 billion bbl of additional oil in place at Thunder Horse field. Elsewhere in the gulf, two discoveries near Na Kika platform provide additional development opportunities.
Read more... (source: www.ogj.com)


MARKET WATCH: Higher oil prices attributed to production-cut compliance
8 January 2019, 4:10pm
The light, sweet crude oil price for February rose above $48/bbl on the New York market Jan. 7 while Brent crude oil price for March settled above $57/bbl, which analysts attributed to production-cut plans by the Organization of Petroleum Exporting Countries and others. OPEC officials told the Wall Street Journal that Saudi Arabia plans to cut crude exports to about 7.1 million b/d by Jan. 31 in efforts to support Brent oil prices of $80/bbl or higher.
Read more... (source: www.ogj.com)


New market variables
7 January 2019, 9:02pm
Upheaval in the Middle East confounds forecasts of energy markets, such as Oil & Gas Journal’s annual Forecast & Review (p. 18). The political nature of that upheaval is well-documented and important. Less reported but no less important is its economic dimension.
Read more... (source: www.ogj.com)


Watching energy in 2019
7 January 2019, 8:59pm
What should industry expect to happen this year relating to oil and gas? That is a million-dollar question if ever there was one. It’s also a question that analysts and think tanks alike ponder about this time every year.
Read more... (source: www.ogj.com)


ExxonMobil drills first of two wildcat wells off Guyana
7 January 2019, 7:03pm
ExxonMobil Corp. reported the start of drilling of the Haimara-1 exploration well offshore Guyana—the first of two planned wells in January. The Stena Carron drillship is drilling the well, which is 19 miles east of the Pluma-1 discovery in the southeast Stabroek block.
Read more... (source: www.ogj.com)


API state councils are bridges between local issues, national advocacy
7 January 2019, 6:53pm
Colorado Petroleum Council (CPC) Executive Director Tracee Bentley did not consider it an oil and gas industry victory on Nov. 6, 2018, when voters across the state resoundingly rejected Proposition 112. The initiative would have established production setback requirements so stringent that new exploration and production in the state effectively would have been stifled.
Read more... (source: www.ogj.com)


Prelude floating LNG project comes on stream
7 January 2019, 6:32pm
Shell Australia’s Prelude floating LNG (FLNG) project in the Browse basin off northwest Western Australia has started production. The company reported it had opened the subsea wells in the field to enter the project’s start-up and ramp-up phases, the initial stages during which gas and condensate is produced and moved through the giant facility.
Read more... (source: www.ogj.com)


Eni agrees to acquire 70% Oooguruk stake
7 January 2019, 4:41pm
Eni SPA says its prospective acquisition of a 70% interest in Oooguruk oil field in the Beaufort Sea offshore Alaska will complement work at nearby Nikaitchuq oil field. It has agreed to acquire the interest from Caelus Natural Resources Alaska LLC and become operator. It now holds 30%.
Read more... (source: www.ogj.com)


India offering 14 blocks in OALP-2
7 January 2019, 4:10pm
Oil and gas operators may submit bids until Mar. 12 for 14 blocks in India offered under the government’s second round in its Open Acreage Licensing Program (OALP). The Ministry of Petroleum and Natural Gas opened OALP-2 bidding on Jan. 7.
Read more... (source: www.ogj.com)


MARKET WATCH: NYMEX ends week at nearly $48/bbl
7 January 2019, 4:03pm
Crude oil prices ended the week higher overall on New York and London markets Jan. 4, with light, sweet crude oil and Brent reporting their first weekly gain in a month. On a daily basis, crude oil price futures had gained for five consecutive days as of the Jan. 4 closing.
Read more... (source: www.ogj.com)


Total issues assay for Brazilian Lapa
7 January 2019, 6:40am
Lapa assay from Total Oil Trading SA’s website.
Read more... (source: www.ogj.com)


Baker Hughes: US rig count falls 8 units to 1,075
4 January 2019, 6:32pm
The US rig count fell 8 units during the week ended Jan. 4 to reach 1,075 units working, according to Baker Hughes data. This count was up 151 units from the 924 units working in the US this week a year ago. US rigs drilling on land fell 6 units to 1,050 vs. last week. Offshore rigs dropped 2 units to 22, and there also were 22 rigs drilling in the Gulf of Mexico, also down 2 units.
Read more... (source: www.ogj.com)


DNO hands over operatorship of Oman Block 8
3 January 2019, 5:31pm
DNO ASA subsidiary DNO Oman Block 8 Ltd. has relinquished operatorship and participation in Oman Block 8 to the Oman’s Ministry of Oil and Gas and state-owned Oman Oil Co. Exploration & Production LLC (OOCEP).
Read more... (source: www.ogj.com)


MARKET WATCH: Crude oil benchmarks jump more than $1/bbl
3 January 2019, 5:21pm
Light, sweet crude oil climbed more than $1 on the New York market on Jan. 2 to settle above $45.50/bbl for February while Brent crude for March also gained more than $1 to approach a settlement of nearly $55/bbl in London.
Read more... (source: www.ogj.com)


Total starts production from giant Egina field off Nigeria
2 January 2019, 7:05pm
Total SA and its partners have started production from Egina oil field, which lies in 1,600 m of water 150 km offshore Nigeria. The field, at plateau, will produce 200,000 b/d of oil, which represents about 10% of Nigeria’s production.
Read more... (source: www.ogj.com)


MARKET WATCH: NYMEX crude gains slightly on final trading day of 2018
2 January 2019, 4:30pm
Benchmark crude oil prices ended a volatile holiday trading period by settling modestly higher on the final trading day of 2018. Previously, both equities and oil prices have whipsawed with steep losses on some days and gains on other days.
Read more... (source: www.ogj.com)


Baker Hughes: Canada rig count drops 61 units
28 December 2018, 6:35pm
Following a 43-drilling rig loss last week, Canada has fallen more than 100 rigs in 2 weeks with a 61-unit loss for the week ended Dec. 28, according to Baker Hughes data. With 70 rigs running, the count is below the 136 units drilling this week a year ago.
Read more... (source: www.ogj.com)


EIA: US crude, NGL production broke records in November
28 December 2018, 6:26pm
US crude oil and natural gas liquids production broke records in November and the first 11 months of this year, the US Energy Information Administration reported. November’s total US crude production averaged nearly 11.7 million b/d, 15.7% higher than a year earlier, as NGL production for the month climbed 11.2% to an average of almost 4.6 million b/d during the same period, EIA said.
Read more... (source: www.ogj.com)


Novatek starts crude oil production at Yaro-Yakhinskoye
27 December 2018, 5:58pm
PAO Novatek started commercial crude oil production from Yaro-Yakhinskoye field in the Purovsky district of Russia’s Yamalo-Nenets Autonomous Region. Oil production capacity of the field, which was developed by Arcticgas, a joint venture of Novatek and Gazprom Neft, is estimated at 1.2 million tons/year.
Read more... (source: www.ogj.com)


MARKET WATCH: NYMEX, Brent oil prices rise after pre-holiday slide
27 December 2018, 4:18pm
Crude oil prices rebounded on the New York and London markets on Dec. 26 after having fallen drastically before the Christmas holiday. But oil prices fell again in early trading Dec. 27. Both crude oil benchmarks appear to be headed for losses of about 20% in 2018.
Read more... (source: www.ogj.com)


ExxonMobil: Guyana drilling, development work continues
26 December 2018, 9:26pm
Drilling and development offshore Guyana were unaffected by an incident involving seismic acquisition vessels on Dec. 22, ExxonMobil Corp. said Dec. 26. Two vessels operated by Petroleum Geo-Services ceased conducting 3D seismic data acquisition in the northwest portion of the Stabroek block offshore Guyana when approached by the Venezuela navy claiming a border breach.
Read more... (source: www.ogj.com)


MARKET WATCH: NYMEX crude oil prices drop to lowest since June 2017
26 December 2018, 4:00pm
The light, sweet oil price for February fell more than $3 in a shortened trading session on the New York market Dec. 24. Crude settled at $42.53/bbl—the front-month’s lowest closing since June 21, 2017. Analysts blamed the plunge on volatile US stock markets and ample oil production. US crude oil future prices have dropped some 40% since reaching 5-year highs in early October.
Read more... (source: www.ogj.com)


Kosmos, partners reach Tortue offshore gas field FID
21 December 2018, 11:25pm
Kosmos Energy and its partners have made a final investment decision to proceed with Phase 1 of the Greater Tortue Ahmeyim natural gas project offshore Mauritania and Senegal. 
Read more... (source: www.ogj.com)


APICORP: Iraqi output goals move ‘within reach’
20 December 2018, 8:00pm
Formation of a government in October raises prospects for continued growth of oil production in Iraq.
Read more... (source: www.ogj.com)


Norwegian Sea exploration well comes up dry for Lundin
20 December 2018, 4:56pm
Lundin Petroleum AB subsidiary Lundin Norway AS will plug and abandon Silfari exploration well 6307/1-1S in PL830 in the Norwegian Sea. The well was dry.
Read more... (source: www.ogj.com)


CGX Energy lets contract for rig offshore Guyana
18 December 2018, 8:22pm
CGX Resources Inc., a subsidiary of CGX Energy Inc., has let a single-well contract to Rowan Cos. for the Rowan Ralph Coffman jack up rig in the Corentyne block offshore Guyana.
Read more... (source: www.ogj.com)


UT: Technically recoverable natural gas from future US shale wells on rise
17 December 2018, 9:14pm
A new analysis of the nation’s major shale gas plays shows 20% more natural gas can be technically recovered from future wells compared with an estimate made 5 years ago. Researchers primarily attributed the increase to new drilling practices.
Read more... (source: www.ogj.com)


Equinor starts up Aasta Hansteen production
17 December 2018, 8:35pm
Equinor reported first production from the deepwater Aasta Hansteen natural gas and condensate field in the northern part of the Norwegian Sea. 
Read more... (source: www.ogj.com)


Elixir completes acquisition of Gold Horde to set up Mongolian program
17 December 2018, 5:18pm
Elixir Petroleum Ltd., Perth, completed its acquisition of Golden Horde Ltd. for 79 million Elixir shares to set in motion an exploration program in southern Mongolia.
Read more... (source: www.ogj.com)


Needed oil-output limits defy Trump’s misguided harangues
17 December 2018, 5:07pm
Parties to the Dec. 7 agreement limiting oil production had to take seriously messages coming from the US—but not tweets from the White House.
Read more... (source: www.ogj.com)


Senex’s Gemba-1 success points to new Cooper basin play
17 December 2018, 5:07pm
Senex Energy Ltd., Brisbane, has completed a test at its Gemba-1 wildcat in 100%-owned Cooper basin permit PEL 516 with a stabilized flow rate of 8 MMcfd and raised the potential of a new play in the Permian-age Dullingari group sediments.
Read more... (source: www.ogj.com)


Cairn Energy group begins FEED at SNE field off Senegal
17 December 2018, 4:57pm
The Cairn Energy-led group offshore Senegal has begun front-end engineering and design (FEED) work for the first phase of the proposed development of the SNE oil field.
Read more... (source: www.ogj.com)


ConocoPhillips sets $6.1-billion capex budget for 2019
17 December 2018, 4:55pm
ConocoPhillips has set a capital expenditure budget for 2019 of $6.1 billion, which is flat to its expected full-year 2018 capex, excluding acquisition costs. The 2019 budget does not reflect potential dispositions that may occur in 2019.
Read more... (source: www.ogj.com)


USGS identifies largest continuous oil, gas resource potential ever assessed
17 December 2018, 4:49pm
The global oil market tightened slightly in the week ending Nov. 23, according to the Oil Adequacy Index, a new measure of oil-market supply created by the Economist Intelligence Unit (EIU) and CargoMetrics.
Read more... (source: www.ogj.com)


Use technology to address climate change, Oxy exec advises
14 December 2018, 8:51pm
More oil and gas producers should be ready to use technology to address climate change instead of denying the problem exists, Occidental Petroleum Corp. Pres. and Chief Executive Officer Vicki A. Hollub recommended on Dec. 14. “We’ve been doing enhanced oil recovery for decades. When carbon dioxide is used to produce oil, the net emissions are 20% less than oil produced without EOR,” she said during an appearance at the Bipartisan Policy Center in Washington, DC.
Read more... (source: www.ogj.com)


Baker Hughes: Canada sees another double-digit drop in rigs
14 December 2018, 6:37pm
Close on the heels of a 13-rig drop a week ago, Canada lost 12 rigs for the week ended Dec. 14, according to Baker Hughes data. With 174 rigs running, the count is below the 238 units drilling this week a year ago. The number of oil-directed rigs in Canada fell by 7, bringing the count to 95 rigs for the week. Gas-directed rigs were down 5 to 79 units.
Read more... (source: www.ogj.com)


Western Gas signs MOU for Equus gas project off Western Australia
14 December 2018, 5:40pm
Privately held Western Gas Corp. Pty. Ltd., Perth, has signed a memorandum of understanding with international service companies McDermott and Baker Hughes to be exclusive development partners for the Equus gas project offshore northwest Western Australia.
Read more... (source: www.ogj.com)


Two blocks offered off Sable Island, NS
14 December 2018, 5:20pm
Two blocks nominated by the oil and gas industry are on offer off Sable Island in the northern Atlantic. The Canada-Nova Scotia Offshore Petroleum Board will accept bids through May 8, 2019, for exploration licenses covering 75,788-hectare Parcel 1 and 73,004-hectare Parcel 2, both in less than 100 m of water on the Scotian Shelf.
Read more... (source: www.ogj.com)


PTTEP wins Bongkot, Erawan concessions
14 December 2018, 5:09pm
PTT Exploration & Production will remain operator of Bongkot natural gas field in the Gulf of Thailand and replace a Chevron Corp. subsidiary as operator of Erawan gas field in 2022. The state-owned company won bidding for new concessions covering both fields. The current Bongkot license will expire in 2023, and the Erawan license will expire in 2022.
Read more... (source: www.ogj.com)


MARKET WATCH: Crude oil benchmark make gains on deficit concerns
14 December 2018, 4:13pm
Crude oil benchmark prices settled more than $1 higher Dec. 13 as signs point to an emerging global oil market deficit. News of a drop in US crude stocks was reported Dec. 12. The weekly Petroleum Status Report showed US oil production dropped 100,000 b/d to 11.6 million b/d for the week ended Dec. 7.
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ExxonMobil makes FID to develop West Barracouta gas project
13 December 2018, 6:55pm
ExxonMobil Corp. plans to produce natural gas for the Australian market by 2021 following a final investment decision to develop West Barracouta gas field in Bass Strait. The project, on the VIC/L1 Block offshore Victoria, is part of the Esso-BHP Gippsland basin joint venture.
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IEA revises downward non-OPEC supply growth forecast for 2019
13 December 2018, 6:48pm
In its latest monthly oil market report, the International Energy Agency has revised its 2019 non-OPEC supply growth forecast down by 415,000 b/d to 1.5 million b/d, partly due to expected cuts from Russia agreed last week, and to lower growth in Canada. “By agreeing a cut of 1.2 million b/d, and additional output curbs in Canada, producers may go some way towards restoring balance to the world market,” IEA said.
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CruzSur seeks test of old well in Colombia
13 December 2018, 6:34pm
A subsidiary of CruzSur Energy Corp., Vancouver, BC, wants to test an old well near a recent technical discovery on the Maria Conchita block in the Department of La Guajira, Colombia. The subsidiary, MKMS Enerji Sucursal Colombia, is seeking modification to an environmental license that would allow it to test the Aruchara-1 well drilled by Texaco in 1980. MKMS operates the 60,076-acre block.
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Oil flow increases at Iraq’s Halfaya field
13 December 2018, 4:38pm
Oil production at Halfaya field in southern Iran increased to 370,000 b/d after start-up of a new processing facility, an official of Maysan province told Reuters. The field, operated by PetroChina, had been producing 270,000 b/d.
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MARKET WATCH: NYMEX crude oil drops on OPEC unity concerns
13 December 2018, 4:32pm
Light, sweet crude oil for the January contract dropped modestly to approach $51/bbl, settling at $51.15/bbl on the New York market Dec. 12 on concerns about the Organization of Petroleum Exporting Countries’ ability to make the production cut that it announced last week.
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EIA STEO revises Brent, WTI oil-price forecasts downward for 2019
12 December 2018, 9:34pm
In its latest Short-Term Energy Outlook (STEO), the US Energy Information Administration has revised its 2019 price forecasts for Brent and West Texas Intermediate to $61/bbl and $54/bbl, respectively, which are both $11/bbl lower than forecast in the STEO for November.
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Cenovus to focus 2019 budget on Foster Creek, Christina Lake
12 December 2018, 6:54pm
Cenovus Energy expects to allocate the majority of its planned 2019 budget of $1.2-1.4 billion to sustain base production at its Foster Creek and Christina Lake oil sands operations. The company also plans to complete construction of the Christina Lake Phase G expansion. With an approved design gross capacity of 50,000 b/d, production startup from the expansion is expected in second-half 2019.
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Total signs E&P contracts for blocks off Mauritania
12 December 2018, 6:47pm
Total and the Ministry of Petroleum, Energy, and Mines of Mauritania have signed an agreement awarding Total two exploration and production contracts for Blocks C15 and C31 deep offshore Mauritania, covering a 14,175-sq km area. Based on the contracts, Total will serve as operator of these two blocks with a 90% interest alongside SMHPM, which will hold the remaining 10%.
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French Guyana: Total commits to exploration campaign
12 December 2018, 6:35pm
Total SA reported on plans to begin its exploration campaign on the Guyane Maritime license, 150 km off French Guyana. Total’s objective on the license is to drill one last exploration well, following the five formerly drilled during 2011-13 to conclude definitively whether an exploitation phase is relevant.
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BOEM extends EIS comment period for proposed Beaufort Sea lease sale
12 December 2018, 6:04pm
The US Bureau of Ocean Energy Management has extended the public comment period for a proposed environmental impact statement (EIS) relating to a proposed 2019 Beaufort Sea oil and gas lease sale, the agency’s Anchorage office said on Dec. 11.
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Marathon extends Bakken acreage with Ajax wells
12 December 2018, 5:07pm
Marathon Oil Corp. reported an average 30-day initial production of more than 2,400 boe/d (84% oil) from a four-well Middle Bakken pad in the Ajax area of the Williston basin in Dunn County, North Dakota.
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Cuadrilla stops hydraulic fracturing in Bowland shale
12 December 2018, 4:46pm
Privately owned Cuadrilla Resources Ltd. again stopped hydraulic fracturing operations at its Preston New Road natural gas drilling site in Lancashire, northwest England, after minor tremors were detected Dec. 11. Fracturing in the Bowland shale has been halted three times since October.
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DEA to focus on Zama discovery with Sierra acquisition
12 December 2018, 4:45pm
DEA Deutsche Erdoel AG (DEA), Hamburg, has agreed to acquire Sierra Oil & Gas, Mexico City, giving it access to a portfolio of six exploration and appraisal blocks in Mexico, including the Zama discovery.
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OPEC’s November oil production averaged nearly 33 million b/d
12 December 2018, 4:30pm
The Organization of Petroleum Exporting Countries produced 32.97 million b/d on average for November, down 11,000 b/d from October, secondary sources to the cartel reported Dec. 12 in its Monthly Oil Market Report. Saudi Arabia’s production climbed by 377,000 b/d from October to November to reach 11.01 million b/d.
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