Lukoil plans Iraqi Block 10 seismic work
15 December 2017, 7:04pm
Lukoil plans additional seismic surveys over Eridu oil field on Block 10 in Iraq and over southern and central parts of the block not yet surveyed. It signed contracts with state-owned Oil Exploration Co. to acquire 983 sq km of 3D data at Eridu field and 3,500 line-km of 2D data elsewhere on the block. 
Read more... (source: www.ogj.com)


US Oil Rig Count Drops By Four To 747
15 December 2017, 6:19pm
U.S. energy companies this week cut oil rigs for the first time in six weeks in spite of prices rising close to their highest in over two years and drillers starting to boost spending plans for next year. The oil rig count fell by four to 747 in the week to Dec. 15, Baker Hughes, a GE company, said in its weekly rig count report. The U.S. rig count, an early indicator of future output, is still much higher than a year ago when only 510 rigs were active after energy companies boosted spending plans for 2017 as crude started recovering from a two-year price crash.
Read more... (source: www.epmag.com)


China to offer five Tarim basin blocks
15 December 2017, 5:32pm
The Chinese government plans to offer five oil and gas exploration licenses in the Tarim basin to nonstate operators, according to China Daily. The offering will be the third in the Xinjiang Uygur autonomous region under a program opening exploration and production to private companies.
Read more... (source: www.ogj.com)


AkerBP Delivers Plans For Trio Of Fields Offshore Norway
15 December 2017, 5:12pm
AkerBP and its joint venture partners plan to spend nearly $1.9 billion to develop a trio of fields on the Norwegian Continental Shelf, showing the industry’s commitment to offshore oil and gas development remains as market conditions improve. The company submitted plans for the Valhall Flank West, Ærfugl and Skogul developments to Norwegian authorities on Dec. 15. The move came after the company reduced costs. Combined, the projects are expected to bring in about $12 billion in oil and gas revenue based on a $60 per barrel oil price. Investment for the Ærfugl gas condensate field—formerly called Snadd—fell by about $239 million to an estimated $1 billion, while total investment for the Valhall Flank West development dropped by more than $179 million to an estimated $657 million.
Read more... (source: www.epmag.com)


Petrobras, ExxonMobil Form Strategic Alliance
15 December 2017, 2:42pm
Petrobras and ExxonMobil have signed a memorandum of understanding regarding a strategic alliance to jointly identify and evaluate potential business opportunities. The companies will evaluate areas of mutual interest that can bring together their experience across all sectors of the oil and gas production value chain, including opportunities for cooperation in E&P, gas and chemicals in Brazil and in other parts of the world.
Read more... (source: www.epmag.com)


Petrobras gets ‘favorable decision’ in Sete Brasil arbitration
15 December 2017, 2:39pm
Petrobras has obtained a favorable arbitration award related to a rig dispute with its compatriot offshore driller Sete Brasil.  ...
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Elliott Seeks To Remove CEO John Hess Of Hess Corp
15 December 2017, 2:25pm
Activist investor Elliott Management Corp. is readying for a new fight with U.S. oil and gas producer Hess Corp. hoping it can remove its CEO John Hess, or push him to sell all or part of the company, the Wall Street Journal reported on Dec. 14.
Read more... (source: www.epmag.com)


BP To Buy 43% Stake In Solar Energy Firm Lightsource For $200 Million
15 December 2017, 2:21pm
British oil producer BP said on Dec. 15 it would buy a 43% stake in solar energy firm Lightsource for $200 million. BP will pay Lightsource $50 million when the deal is completed, with the balance paid in instalments over three years. The majority of the investment will fund Lightsource’s growth pipeline, BP said. BP will have two seats on Lightsource board and the solar company will be renamed Lightsource BP.
Read more... (source: www.epmag.com)


Subsea 7 Lands Contracts Offshore Norway
15 December 2017, 2:17pm
Subsea 7 SA has won two contracts from alliance partner Aker BP ASA in the Norwegian North Sea, the company said on Dec. 15. The contracts are for the Skogul project and the Valhall Flank West project, which collectively are equivalent to a “sizeable” award, according to Subsea 7.
Read more... (source: www.epmag.com)


Ivory Coast Awards Tullow Two New Onshore Oil Blocks
15 December 2017, 2:05pm
Ivory Coast has awarded Tullow Oil Plc two new onshore oil blocks, a government spokesman said on Dec. 14, expanding the company’s footprint in the Gulf of Guinea.
Read more... (source: www.epmag.com)


Apache's Latest Permian Expansion Plan Shows US Shale Far From Peaking
15 December 2017, 1:55pm
Apache Corp. (NYSE: APA) CEO John Christmann is betting the future of his company on a remote corner of the Permian Basin, the largest U.S. oil field, planning to spend billions of dollars in the next 20 years to drill more than 5,000 wells. The development of the company's Alpine High Field holds ramifications for U.S. oil reserves and future output from the already prolific Permian oil field in Texas. The region was first tapped in the 1920s and, after decades of drilling, it was considered largely exhausted by the late 1990s. But the shale revolution gave the Permian a new lease on life, and production has risen so fast it contributed to a collapse in global oil prices. Now, Apache's efforts in a once-overlooked corner of the Permian suggest the oil field can still provide surprises.
Read more... (source: www.epmag.com)


Morocco: Eni sets spud date for Rabat Deep well
15 December 2017, 12:58pm
Italian oil company Eni has selected a spud date for the drilling program in the Rabat Deep Offshore license in Morocco. ...
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Total, Eni, Novatek first to grab licenses offshore Lebanon
15 December 2017, 11:11am
Lebanese government has awarded two offshore exploration and production licenses to a consortium of three oil and gas companies.  ...
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Atkins wins FEED work on Repsol’s Yme field
15 December 2017, 10:37am
Atkins has been awarded a contract with Repsol to provide structural front end engineering design (FEED) for the remediation of the Yme asset in the North Sea. ...
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Cobalt files for Chapter 11, plans asset sale
15 December 2017, 9:47am
Cobalt International Energy and certain of its U.S. affiliates have filed voluntary petitions for relief under Chapter 11 of the U.S. Bankruptcy Code.  ...
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COPL: Financing delays to put off drilling offshore Nigeria
15 December 2017, 8:59am
Canada's COPL will have to put off drilling of a well in its Nigerian offshore block amid the delays in completing the financing for the project. ...
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Subsea 7 lands more work from Aker BP
15 December 2017, 8:49am
Subsea 7 has been awarded contracts by Aker BP for the Skogul and the Valhall Flank West projects in the Norwegian North Sea. ...
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Aker BP hands in development plans for three offshore fields
15 December 2017, 7:47am
Aker BP has submitted the plans for development and operations for three offshore fields to the Norwegian authorities.  ...
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IOG targets Blythe gas field FDP for 2018
15 December 2017, 7:45am
Independent Oil and Gas (IOG) has been given an extension of its P1736 license in the UK North Sea which contains the Blythe gas discovery. ...
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No hydrocarbons at W&T’s Gulf of Mexico exploration well
15 December 2017, 7:12am
W&T Offshore has failed to find hydrocarbons in the ST 224 #1 offshore exploration well in the U.S. Gulf of Mexico. Its partner in the project Otto Energy on Friday said the well had been drilled... ...
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ExxonMobil enters strategic alliance with Petrobras
15 December 2017, 7:05am
Petrobras and ExxonMobil have signed a memorandum of understanding regarding a strategic alliance to jointly identify and evaluate potential business opportunities. ...
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DOF sheds 1996-built platform supplier
15 December 2017, 7:03am
Norwegian shipping company DOF has sold one of its platform suppliers to an undisclosed client.  ...
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Fugro confirms former Statoil chairman as its new CEO
15 December 2017, 7:00am
Fugro shareholders have appointed Øystein Løseth as a member of the board of management. ...
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Nexen UK head takes over as co-chair at Oil & Gas UK
15 December 2017, 6:51am
The head of Nexen in the UK has taken over as co-chairman of the board of Oil & Gas UK, the representative body of the UK o&g industry. ...
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Chart: Eastern Rig Count As Of December 15, 2017
15 December 2017, 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
Read more... (source: www.epmag.com)


Chart: Gulf Coast Rig Count As Of December 15, 2017
15 December 2017, 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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SDX: KSR-15 Well Placed on Production
15 December 2017, 12:00am
North Africa focused oil and gas company, SDX Energy Inc, announces that the KSR-15 well on the Sebou permit in Morocco has been placed on production.
Read more... (source: www.rigzone.com)


Transneft Says Its Computers Were Used For Mining Cryptocurrency
15 December 2017, 12:00am
Computers at Transneft have been used for the unauthorised manufacture, or 'mining', of the cryptocurrency Monero, a vice-president of the Russian pipeline operator said.
Read more... (source: www.rigzone.com)


UK Forties Oil Cargoes Delayed For Weeks By Pipeline Shutdown
15 December 2017, 12:00am
The loading dates of Forties crude cargoes, which help set the global Brent benchmark, have been delayed by at least two weeks
Read more... (source: www.rigzone.com)


CEO: Brazil's Petrobras To Announce Revised Capex Plan Next Week
15 December 2017, 12:00am
Petrobras will announce a revision to its investment plan by Wednesday or Thursday.
Read more... (source: www.rigzone.com)


Venezuela's PDVSA Begins Making Delayed Bond Interest Payments
15 December 2017, 12:00am
Venezuelan state oil company PDVSA begins the process of making interest payments on four of its bonds.
Read more... (source: www.rigzone.com)


EIC Appoints New Board Members
15 December 2017, 12:00am
The Energy Industries Council (EIC), a trade association for companies that supply goods and services to energy industries worldwide, has announced the appointment of 2 new board members.
Read more... (source: www.rigzone.com)


Oil Deal May Win Back Sudan Some Influence Over Former Enemy
15 December 2017, 12:00am
Sudan lost three-quarters of its oil reserves when the south seceded in 2011. A four-year civil war in Africa's youngest nation may be letting it reassert control.
Read more... (source: www.rigzone.com)


New Africa Gas Comes at Right Time for Europe in Supply Woes
15 December 2017, 12:00am
The extra output couldn't come at a better time for Cameroon.
Read more... (source: www.rigzone.com)


Oil Hovers Below 2-Year Highs With Focus On US Output
15 December 2017, 12:00am
Oil prices were mixed, lingering below two-year highs.
Read more... (source: www.rigzone.com)


UKCS Operating Costs Drop
15 December 2017, 12:00am
Operating costs in the UK Continental Shelf (UKCS) dropped by 14% in 2016, with operators securing reductions of approximately $1.5 billion.
Read more... (source: www.rigzone.com)


Aker BP Submits $1.8B Field Development Plans
15 December 2017, 12:00am
Aker BP ASA has submitted development plans for the AErfugl (formerly Snadd), Valhall Flank West and Skogul (formerly Storklakken) fields to the Norwegian Ministry of Petroleum and Energy.
Read more... (source: www.rigzone.com)


Survey Projects Shortage of Skilled, Competent Contract Workers for 2018
15 December 2017, 12:00am
What's driving demand for more outsourced work in oil and gas?
Read more... (source: www.rigzone.com)


BP Returns To Solar With Investment In Lightsource
15 December 2017, 12:00am
BP is getting back into solar power six years after its first foray with a $200 million investment in solar generator Lightsource
Read more... (source: www.rigzone.com)


Asian LNG Spot Prices Jump After European Gas Outages
15 December 2017, 12:00am
Asian liquefied natural gas spot prices jumped this week.
Read more... (source: www.rigzone.com)


Gas Bulls Can't Bank on Electric Cars for Big US Demand Boost
15 December 2017, 12:00am
The era of electric vehicles could be a boon for US natural gas bulls - but not a windfall.
Read more... (source: www.rigzone.com)


What Goes Up Must Come Down: the Challenge of Rig Decommissioning
15 December 2017, 12:00am
Decommissioning oil rigs is quickly becoming a major financial and logistical problem for virtually every oil company.
Read more... (source: www.rigzone.com)


Paralysis At PDVSA: Venezuela's Oil Purge Cripples Company
15 December 2017, 12:00am
An alleged crackdown on graft in Venezuela has sown panic across the country's energy industry and all but paralyzed PDVSA.
Read more... (source: www.rigzone.com)


EOG Resources Makes Leadership Changes
14 December 2017, 6:41pm
EOG Resources Inc. (NYSE: EOG) has named Lloyd W. “Billy” Helms Jr. to replace Gary Thomas, who is set to retire by year-end 2018, as the company’s COO, according to a news release. Helms last served as executive vice president of E&P, a role that is now held by Ezra Y. Yacob. Yacob was previously vice president and general manager of EOG’s Midland office. The changes took effect Dec. 13, EOG said in a news release.
Read more... (source: www.epmag.com)


Energean adds five Israeli blocks near Karish, Tanin
14 December 2017, 6:28pm
Energean Oil & Gas and its subsidiaries have increased to 13 the total number of licenses held in the East Mediterranean. The Israeli Petroleum Commissioner has awarded the operator Blocks 12, 21, 22, 23, and 31 offshore Israel, which were published in the country’s first round.
Read more... (source: www.ogj.com)


North Sea Oil Deliveries Halted In First Force Majeure In Decades
14 December 2017, 5:18pm
Deliveries of crude oil through the Forties pipeline in the North Sea are under force majeure for the first time in decades and operator INEOS said on Dec. 14 there was no timeline yet for repair work that could last several weeks. The 169-km pipeline, which carries around a quarter of all North Sea crude output and around one-third of Britain’s total offshore gas production, has been closed since Dec. 11, following the discovery of a small crack in part of the system onshore in Scotland.
Read more... (source: www.epmag.com)


World Bank to stop upstream oil and gas financing after 2019
14 December 2017, 5:06pm
The World Bank Group (WBG) reported it plans to stop financing upstream oil and gas projects in developing countries to help implement the 2016 Paris climate agreement’s goals. Exceptions will be considered where there is a clear energy access benefit for the poor and the project fits within the countries’ Paris agreement commitments, it said on Dec. 12 during the One Planet Summit in Paris.
Read more... (source: www.ogj.com)


Oil Market Intelligence: Converting To Diverters
14 December 2017, 4:55pm
Diverter use grows as E&P companies seek ways to improve fracture initiation points along ever-longer laterals.
Read more... (source: www.epmag.com)


Syria To Start Offshore Energy Exploration In 2019
14 December 2017, 3:18pm
Syrian offshore gas exploration will begin in early 2019, the country’s oil minister said, Syrian newspaper al-Watan reported on Dec. 13. Oil and mineral resources Minister Ali Ghanem said contracts for five offshore blocks had been signed with “friendly countries”. The report did not say which countries or companies were involved. He also said Syria has an estimated 1,250 billion cubic meters of offshore gas reserves. The report did not say when or how the Syrian government had appraised the reserves.
Read more... (source: www.epmag.com)


Odfjell Drilling to reduce offshore workers pay?
14 December 2017, 3:13pm
Offshore drilling contractor Odfjell Drilling is looking to reduce pay for its offshore workers.  ...
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Amerisur Resources Hits More Platanillo Pay
14 December 2017, 2:53pm
Amerisur Resources Plc provided an update on Platanillo-27, the fourth well on Pad 2N, in the northern extension of the Platanillo Field on Dec. 14. Platanillo-27, the 21st well of the Platanillo drilling campaign, has been successfully drilled as a medium deviation directional well, to a total depth of 9,600 ft (2926 m) measured depth, on time and budget.
Read more... (source: www.epmag.com)


OGA: Lower operating costs in UK oil & gas sector to stick around for another 5 years
14 December 2017, 2:35pm
Operating costs in the UK Continental Shelf dropped by 14 percent in 2016 with operators securing approximately £1.1 billion reductions in operating expenditure (OPEX), according to a report by the... ...
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VIDEO: Transpooling flexible umbilicals for Total’s Egina project
14 December 2017, 2:00pm
TechnipFMC has recently completed transpooling flexible umbilicals for Total's Egina project from one of its facilities in France. ...
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Ineos: Crack in Forties pipeline stabilized, but repair works might take weeks
14 December 2017, 11:09am
Following the controlled shutdown of the Forties Pipeline System on Monday, Ineos has stabilized the crack in the pipeline which prompted the closure. Ineos estimates that repair works might take... ...
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GALLERY: Blue Queen PSV reaches Dutch port ahead of conversion
14 December 2017, 11:00am
The PX121 platform supply vessel Blue Queen has arrived to the Royal Niestern Sander shipyard in Delfzijl, the Netherlands. ...
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Ultra Deep Solutions sheds more light on Van Gogh vessel charter
14 December 2017, 10:46am
Ultra Deep Solutions has revealed the name of the client for the recently announced 5-year charter deal for its Van Gogh diving support construction vessel. The offshore vessel owner initially... ...
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Air Products nitrogen package for Coral FLNG
14 December 2017, 8:44am
Air Products will supply its Medium and High Purity Nitrogen Package for Eni’s $4.7 billion Coral FLNG development offshore Mozambique. This will be Air Products’ second contract for the Coral FLNG... ...
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Brazil: Statoil completes Carcara deal with QGEP
14 December 2017, 8:26am
Statoil has completed the acquisition of a 10% stake in the BM-S-8 block offshore Brazil from Queiroz Galvão Exploração e Produção (QGEP). ...
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Platts recognizes Repsol as E&P industry leader in 2017
14 December 2017, 8:15am
S&P Global Platts has awarded Repsol with the 2017 Exploration and Production Industry Leadership Award at the annual Global Energy Awards. ...
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Cue Energy director resigns following NZOG takeover approval
14 December 2017, 8:00am
Cue Energy's non-executive director has resigned from his position with immediate effect. ...
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Quadrant preparing to drill two offshore wells in 2018
14 December 2017, 7:42am
Australia’s Quadrant Energy is preparing to drill two wells offshore Australia in 2018 with its partner Carnarvon Petroleum. Carnarvon Petroleum on Thursday said the partnership had had a... ...
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OGOG secures regulatory approval for NZOG acquisition (New Zealand)
14 December 2017, 7:25am
Singapore’s OGOG has received regulatory approval its partial takeover offer for New Zealand Oil & Gas. New Zealand’s Overseas Investment Office has given its consent under the... ...
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Woodside teams up with ABB for first offshore application of microgrid solution
14 December 2017, 7:22am
Woodside has signed an agreement with ABB for the installation of a microgrid solution with a li-ion energy storage system on the Goodwyn A platform. ...
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Statoil hands out subsea contracts to Aker Solutions, TechnipFMC, OneSubsea
14 December 2017, 7:11am
Norwegian oil company Statoil has awarded new subsea maintenance framework agreements to Aker Solutions, TechnipFMC and OneSubsea.  ...
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EMGS sells 3D Barents Sea data
14 December 2017, 7:00am
EMGS has entered into data licensing agreements related to 3D CSEM multi-client data in the Barents Sea in Norway. ...
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New JIP to explore effectiveness of alternative well foundation technology
14 December 2017, 6:56am
The Industry Technology Facilitator (ITF) is leading a joint industry project (JIP) to investigate an alternative well foundation technology for subsea exploration and production wells. ...
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Exxon, Petrobras Form Alliance To Develop Oil, Gas Projects
14 December 2017, 12:00am
ExxonMobil and Petrobras form an alliance to develop energy projects around the world.
Read more... (source: www.rigzone.com)


Cuba Takes Over Venezuela Stake In Refinery Joint Venture
14 December 2017, 12:00am
Venezuela has pulled out of a partnership with Cuba in its Cienfuegos oil refinery and the Caribbean island has taken full ownership of the plant, Cuban state media says.
Read more... (source: www.rigzone.com)


Trade Data: India's Nov Iran Oil Imports Skid To Lowest Since Feb 2016
14 December 2017, 12:00am
India's refiners imported nearly half as much crude oil from Iran in November as the month before, ship tracking data shows.
Read more... (source: www.rigzone.com)


Ultra Petroleum tests Pinedale horizontal play in Wyoming
11 December 2017, 9:55pm
Ultra Petroleum Corp. has produced 1.1 bcf of natural gas equivalent in 30 days from its Warbonnet 9-23-A-1H well, which the operator successfully completed in late October on the East Flank of Wyoming’s Pinedale anticline.
Read more... (source: www.ogj.com)


ExxonMobil makes oil discovery offshore Equatorial Guinea
11 December 2017, 9:40pm
ExxonMobil Corp. is now assessing potential commerciality at its Avestruz-1 well on Block EG-06 160 km offshore Malabo, Equatorial Guinea. The operator drilled the oil discovery in October but has not released any production data.
Read more... (source: www.ogj.com)


DUC okays Tyra redevelopment off Denmark
11 December 2017, 7:26am
Continuation of production from Tyra natural gas field in the Danish North Sea has been assured with approval by the Danish Underground Consortium of a $3.34-billion redevelopment plan.
Read more... (source: www.ogj.com)


RFF: Security goals should reflect changed outlook for US oil, gas
11 December 2017, 6:56am
US security goals based on crude oil import disruptions in the 1970s and '80s need to be reconfigured to reflect the country's improved oil and gas outlook resulting from the burst of unconventional exploration and development since 2005, speakers said during a Nov. 30 discussion at Resources for the Future.
Read more... (source: www.ogj.com)


The moving 'target'
11 December 2017, 6:33am
If oil production from unconventional resources really is a target of decision-making by the Organization of Petroleum Exporting Countries, as some observers say, the exporters' group has dedicated nearly a year to perverse strategy.
Read more... (source: www.ogj.com)


OGJ Newsletter
11 December 2017, 6:00am
International news for oil and gas professionals
Read more... (source: www.ogj.com)


State, federal lease sales in Alaska produce contrasting results
7 December 2017, 7:31pm
The State of Alaska received a record $121 million in winning bids as 143 companies and investors sought leases in its annual North Slope lease sale on Dec. 6. The US Bureau of Land Management offered 900 tracts covering a record 16,100 sq miles within the National Petroleum Reserve-Alaska the same day and received 7 bids totaling $1.16 million for 125 sq miles of acreage.
Read more... (source: www.ogj.com)


Airborne gravity survey launched for southern Gulf of Mexico
7 December 2017, 7:08pm
CGG will complete as many as five additional areas in the southern Gulf of Mexico through 2018. The program will total 200,000 line-km of multiclient airborne gravity and magnetic survey. The company completed its first area, AOI 1, in December 2016 and has processed and interpreted about 38,000 line-km over the gulf’s Perdido foldbelt.
Read more... (source: www.ogj.com)


Erin Energy targets Miocene offshore Nigeria, Oyo field
7 December 2017, 7:01pm
Erin Energy Corp., Houston, expects a 60-day drilling and logging window at its Oyo North West (Oyo-NW) well, which the company spudded on Dec. 6 on its oil mining lease (OML) 120 block offshore Nigeria.
Read more... (source: www.ogj.com)


Po Valley logs gas producer in Selva field revival
7 December 2017, 6:55pm
Po Valley Energy Ltd., Perth, plans to complete its Selva gas field Podere Maiar 1 dir (PM1) well in mid-December with production planned for January 2018. As part of the operator’s plan to revive Eni SPA’s former gas field in Northern Italy, Po Valley Energy drilled the PM1 to 1,330 m TD in the Pliocene.
Read more... (source: www.ogj.com)


Norway draws production bids in 24th licensing round
6 December 2017, 9:10pm
Norway’s Ministry of Petroleum and Energy aims to award new production licenses in the 24th Licensing Round before the summer of 2018. The round covered newly opened, frontier acreage including 102 blocks or partial blocks of which nine were in the Norwegian Sea with the remaining 93 blocks in the Barents Sea.
Read more... (source: www.ogj.com)


Novatek adds two licenses in Russia
6 December 2017, 5:44pm
PAO Novatek, Moscow, has acquired holders of two exploration and production licenses in Russia from AR Oil & Gas BV, a joint venture of AO Neftegazholding and Repsol SA.
Read more... (source: www.ogj.com)


DUC okays Tyra redevelopment off Denmark
5 December 2017, 9:33pm
Continuation of production from Tyra natural gas field in the Danish North Sea has been assured with approval by the Danish Underground Consortium of a $3.34-billion redevelopment plan. Maersk Oil, the operator, had planned to shut in the field in October 2018 until the consortium proposed redevelopment in March.
Read more... (source: www.ogj.com)


ExxonMobil signs PSCs for blocks offshore Mauritania
4 December 2017, 6:38pm
ExxonMobil Exploration & Production Mauritania Deepwater Ltd. will begin seismic data acquisition and exploration analysis as operator with 90% interest of three deepwater blocks offshore Mauritania following government approval of production-sharing contracts signed with that country’s government.
Read more... (source: www.ogj.com)


Serbia evaluates its CO2 storage potential
4 December 2017, 4:14pm
Serbia is assessing its potential for long-term carbon dioxide storage using depleted or partially depleted oil and gas reservoirs in Pannonian basin to help mitigate climate change.
Read more... (source: www.ogj.com)


New study characterizes heterogeneity in Egypt's Upper Bahariya reservoir
4 December 2017, 4:10pm
The high degree of heterogeneity in the Upper Bahariya, one of the more productive zones in Egypt's western desert, makes accurate characterization difficult.
Read more... (source: www.ogj.com)


Argentina exploration spend increases, operations underway
4 December 2017, 4:06pm

Read more... (source: www.ogj.com)


Texas ranks highest in oil and gas allure
4 December 2017, 3:57pm
Texas tops a list of 97 jurisdictions ranked by oil and gas executives for investment allure in an annual survey by the conservative Fraser Institute of Canada.
Read more... (source: www.ogj.com)


WoodMac: Producers double down on hedging in third quarter
4 December 2017, 3:55pm
Hedging activity surged in this year's third quarter as oil producers rushed to lock in rising prices for future production, according to Wood Mackenzie's latest analysis of oil and gas hedging activity.
Read more... (source: www.ogj.com)


Statoil buying Total interests off Norway
4 December 2017, 3:52pm
Statoil AS will become operator of Martin Linge oil and gas field and the Garantiana discovery offshore Norway after acquiring Total SA's equity interests for $1.45 billion.
Read more... (source: www.ogj.com)


Serica due BP stakes in three fields off UK
4 December 2017, 3:36pm
Serica Energy PLC, London, has agreed to buy interests in three natural gas and condensate fields in the northern UK North Sea from BP PLC and become operator.
Read more... (source: www.ogj.com)


Worldwide oil, natural gas reserves inch higher in 2017
4 December 2017, 3:21pm
Worldwide proved crude oil and natural gas reserves grew marginally from a year ago, according to Oil & Gas Journal's annual worldwide survey of reserves.
Read more... (source: www.ogj.com)


Compromise compromised
4 December 2017, 7:26am
Rachel Notley took office negotiating and 2 years on fights to keep it. The grand compromise by which the Alberta premier and her New Democratic Party hoped to accommodate both energy development and climate mitigation isn't working. Climate activists win or lose; they don't compromise.
Read more... (source: www.ogj.com)


OGJ Newsletter
4 December 2017, 6:32am

Read more... (source: www.ogj.com)


APPEA elects Yujnovich as board chair
1 December 2017, 6:41pm
The Australian Petroleum Production & Exploration Association has elected Zoe Yujnovich as its board chair following the organisation’s 2017 annual general meeting in Perth.
Read more... (source: www.ogj.com)


Beach farms into Cue Energy’s Ironbark prospect
30 November 2017, 5:05pm
Beach Energy Ltd., Adelaide, has signed a binding agreement with Cue Energy Resources Ltd. of Melbourne to farm into two exploration permits in the Carnarvon basin offshore Western Australia that contain the large Ironbark gas and condensate prospect.
Read more... (source: www.ogj.com)


AWE reports Waitsia-4 gas well flows at record Australian rate
29 November 2017, 9:33pm
AWE Ltd.’s final well in the current appraisal and development program in Waitsia natural gas field in Western Australia’s onshore Perth basin has tested at one of the highest flow rates in Australian history.
Read more... (source: www.ogj.com)


Uzbekistan to develop ‘25 Years of Independence’ field
29 November 2017, 5:53pm
A consortium of investors plans to develop Uzbekistan’s “25 Years of Independence” gas field in the Surkhandarya region in the southern part of the country. The first of two stages will begin 2017-18 with the drilling of a confirmation well and developing a feasibility study on expected reserves. The second stage will include field development, geological exploration, and the construction of a gas conversion facility and chemical complex to produce high value-added products.
Read more... (source: www.ogj.com)


Eni to operate Angola’s Cabinda North Block
28 November 2017, 7:23pm
Eni SPA has become operator of the Cabinda North Block in Angola under an agreement with state-owned Sonangol, the former operator. Eni describes Cabinda North as an onshore block in the little-explored northern part of the country.
Read more... (source: www.ogj.com)


Iraq to offer nine blocks in 2018
28 November 2017, 6:09pm
Iraq’s Oil Ministry is inviting international companies to compete for nine blocks on the country’s borders with Iran and Kuwait and one in southern Iraq’s territorial waters in the Persian Gulf, which is the country’s first offshore block.
Read more... (source: www.ogj.com)


Oil production drop aggravates debt crisis in Venezuela
27 November 2017, 4:23pm
Venezuela, a lovely country with wonderful people and dreadful governance, staggers toward bankruptcy.
Read more... (source: www.ogj.com)


IEA: Oil demand on a rising trajectory by 2040
27 November 2017, 6:45am
According to the International Energy Agency's World Energy Outlook 2017, up until the mid-2020s, oil demand growth remains robust in the New Policies Scenario (NPS) but slows markedly thereafter as greater efficiency and fuel-switching bring down oil use for passenger vehicles. IEA's NPS models current and announced energy policies, including those from the Paris Climate Agreement.
Read more... (source: www.ogj.com)


ONGC Videsh unit adds Namibian interest
22 November 2017, 8:18pm
ONGC Vankorneft Pte. Ltd. is acquiring a 15% participating interest in Petroleum Exploration License 0030 offshore Namibia under definitive binding agreements with Tullow Namibia Ltd.
Read more... (source: www.ogj.com)


UK bid round attracts 96 applications
22 November 2017, 8:05pm
The UK’s 30th Licensing Round drew 96 applications for 239 blocks in mature areas of the UK Continental Shelf.
Read more... (source: www.ogj.com)


Ineos acquiring more interests off the UK
21 November 2017, 6:20pm
Ineos UK SNS Ltd. has agreed to farm in to two exploratory licenses in the West of Shetland area off the UK that include a large natural gas prospect called Lyon.
Read more... (source: www.ogj.com)


Gulf of Mexico producers to become Talos Energy Inc.
21 November 2017, 5:32pm
Talos Energy LLC, Houston, and Stone Energy Corp., Lafayette, La., have agreed to merge in an all-stock transaction creating a Gulf of Mexico producer named Talos Energy Inc. Both companies recently have reported discoveries in the deepwater Gulf of Mexico. And Talos this year reported an oil strike in shallow water off Mexico in its Zama 1 exploratory well.
Read more... (source: www.ogj.com)


Reforms could reduce expropriation risk, Latin America forum told
20 November 2017, 5:25pm
Reforms under way in several Latin American countries contain provisions aimed at increasing certainty for foreign investors and improving chances that energy assets will not be expropriated later, speakers at the Inter-American Dialogue's Latin America Energy Conference suggested.
Read more... (source: www.ogj.com)


SRC Energy to acquire DJ basin acreage from Noble for $608 million
20 November 2017, 4:49pm
SRC Energy Inc., Denver, has agreed acquire certain undeveloped land and nonoperated production in the DJ basin from Noble Energy Inc., Houston, for $608 million.
Read more... (source: www.ogj.com)


Shell opts for full exit from Woodside ownership
20 November 2017, 4:36pm
Royal Dutch Shell PLC has opted for a complete exit from the Woodside Petroleum Ltd. share register just hours after an initial agreement to sell 64% of its holdings (OGJ Online, Nov. 13, 2017).
Read more... (source: www.ogj.com)


OGJ Newsletter
20 November 2017, 6:00am
International news for oil and gas professionals
Read more... (source: www.ogj.com)


ANP: Brazil to build on momentum from robust presalt bid round
16 November 2017, 8:48pm
Brazil plans to use many approaches as it tries to maintain the momentum from its successful Oct. 27 presalt production-sharing bidding round that raised $1.9 billion in signing bonuses, the leader of its National Petroleum, Natural Gas, and Biofuels Agency (ANP) told a Washington audience on Nov. 16.
Read more... (source: www.ogj.com)


US Senate panel adopts Murkowski plan to lease ANWR to meet budget
15 November 2017, 8:55pm
The US Senate Energy and Natural Resources Committee adopted Chair Lisa Murkowski’s proposal to authorize oil and gas leasing on the Arctic National Wildlife Refuge’s Coastal Plain for federal budget reconciliation purposes. The final 13-10 vote on Nov. 15 ran along party lines, with Republicans voting aye and Democrats, with Independents Bernie Sanders and Angus S. King Jr., voting no.
Read more... (source: www.ogj.com)


More Omani blocks assigned on and offshore
15 November 2017, 6:04pm
In conjunction with Tethys Oil Oman Ltd.’s Block 49 acquisition, Oman’s Ministry of Oil & Gas has signed agreements on two additional onshore blocks and one underexplored offshore block.
Read more... (source: www.ogj.com)


Devon reports 5,100 boe/d STACK well in Oklahoma
15 November 2017, 5:30pm
Devon Energy Corp. expects to increase net production in its Oklahoma STACK development to more than 120,000 boe/d by yearend, bringing an estimated 25 wells online in the fourth quarter.
Read more... (source: www.ogj.com)


PentaNova, YPF eye Llancanelo development
14 November 2017, 7:01pm
PentaNova Energy Corp., Vancouver, BC, has agreed to make acquisitions that will increase its working interest to 50% in Llancanelo heavy-oil field in Argentina and allow work to begin on a joint development plan with YPF SA, Buenos Aires. The agreements include a farmin for 11% from YPF, the operator.
Read more... (source: www.ogj.com)


Tethys adds Block 49 to Oman stake
13 November 2017, 4:49pm
Tethys Oil AB has acquired the 15,449-sq-km Block 49 onshore Oman. The company said it has access to 11,000 km of 2D seismic collected by previous operators and cores from nine historical wells, including Dauka-1, which was the first well drilled in Oman in 1955. Several of the cores show traces of oil, the company said.
Read more... (source: www.ogj.com)


OGJ Newsletter
13 November 2017, 6:00am
International news for oil and gas professionals
Read more... (source: www.ogj.com)


Senate Energy Democrats question timing of ANWR leasing hearing
13 November 2017, 6:00am
Democrats on the US Senate Energy and Natural Resources Committee questioned whether it was appropriate to hold a Nov. 2 hearing on possibly allowing oil and gas leasing on the Arctic National Wildlife Refuge's Coastal Plain when it was not yet clear why the issue needs to be considered now.
Read more... (source: www.ogj.com)


Interior, EPA each outline efforts to reduce regulatory burdens
13 November 2017, 6:00am
The US Department of the Interior and the Environmental Protection Agency separately reported energy regulatory burdens discovered within their operations and steps under way to relieve them.
Read more... (source: www.ogj.com)


TAEP: Texas upstream industry expansion continued in 10th straight month
13 November 2017, 6:00am
The Texas upstream industry continues to expand thanks to a more-stable oil market.
Read more... (source: www.ogj.com)


AWE details Waitsia gas field appraisal results
10 November 2017, 8:42pm
The AWE Ltd.-led group at Waitsia gas field in the onshore north Perth basin of Western Australia has shown strong flows from its Waitsia-2 drilling program.
Read more... (source: www.ogj.com)


Santos updates operations in Papua New Guinea, Australia
9 November 2017, 6:58pm
Santos Ltd., Adelaide, made a series of announcements at the company’s annual investor day seminar.
Read more... (source: www.ogj.com)


Murkowski bill puts ANWR leasing in Fiscal 2018 budget reconciliation
9 November 2017, 6:10pm
US Senate Energy and Natural Resources Committee Chair Lisa Murkowski (R-Alas.) released proposed legislation on Nov. 8 that would authorize oil and gas leasing on the Arctic National Wildlife Refuge’s Coastal Plain to raise nearly $1 billion for the proposed Fiscal 2018 federal budget.
Read more... (source: www.ogj.com)


Committee forwards energy policy reform bill to US House
8 November 2017, 8:40pm
The US House Natural Resources Committee approved a bill by a 19-14 vote on Nov. 8 that would reform federal onshore and offshore energy resource management policies. H.R. 4239, which Majority Whip Steve Scalise (R-La.) and three cosponsors introduced on Nov. 3, now heads to the House floor for further consideration.
Read more... (source: www.ogj.com)


US House panel hears more support for offshore than onshore energy policy moves
8 November 2017, 6:13pm
A US House Natural Resources Committee subcommittee heard more support for offshore than onshore policy reform proposals at a Nov. 7 hearing as two of the four witnesses differed on whether to transfer federal onshore oil and gas responsibilities to agencies in producing states.
Read more... (source: www.ogj.com)


UKOGA reports contingent resources added
7 November 2017, 6:46pm
The UK Oil & Gas Authority (UKOGA) forecasts the country’s petroleum reserves could sustain production for at least the next 20 years.
Read more... (source: www.ogj.com)


Pemex makes onshore oil discovery near Veracruz
7 November 2017, 6:26pm
Mexico’s state-owned Petroleos Mexicanos (Pemex) has discovered what President Enrique Pena Nieto has called the “most important onshore discovery” made by the company in 15 years.
Read more... (source: www.ogj.com)


Proppant demand outlook for Bakken, Permian
6 November 2017, 8:03am
US and Canadian shale operators have adjusted completion designs and increased proppant volumes to maximize well productivity. McKinsey Energy Insights (MEI) expects this trend will continue at $50/bbl oil, particularly in the Permian basin.
Read more... (source: www.ogj.com)


Smart bits advance drilling efficiency
6 November 2017, 7:59am
Drillbit manufacturers are adding multidimensional cutter technologies and small moving parts to fixed diamond-cutter bits to create what they call smarter, stronger bits that recognize different rock layers. Operators focused on US shale plays previously used bits with no moving parts but now seek higher efficiency.
Read more... (source: www.ogj.com)


Raw seismic velocities aid predictions in mud program designs
6 November 2017, 7:55am
Geologically realistic models generated from raw seismic velocities can predict pore pressure and fracture gradients useful in designing safe, economic predrill mud programs.
Read more... (source: www.ogj.com)


Statoil completes 2017 UK drilling with Outer Moray Firth discovery
6 November 2017, 7:50am
Statoil ASA has discovered 25-130 million bbl of oil in Verbier sidetrack Well 20/05b-13Z in the outer Moray Firth on the UK Continental Shelf (UKCS).
Read more... (source: www.ogj.com)


Interior, EPA each outline efforts to reduce regulatory burdens
6 November 2017, 7:40am
The US Department of the Interior and the Environmental Protection Agency separately reported energy regulatory burdens discovered within their operations and steps under way to relieve them. Other federal departments and agencies also issued reports on Oct. 25 in response to US President Donald Trump's Executive Order 13783 directing departments and agencies across the government on Mar. 28 to review and possibly change rules that impede the nation's energy development.
Read more... (source: www.ogj.com)


ConocoPhillips cuts capital budget again, posts 3Q profit
6 November 2017, 7:29am
ConocoPhillips is trimming its 2017 capital budget by another $300 million to $4.5 billion as it remains focused on lowering breakeven prices and generating free cash flow. The Houston independent after the second quarter cut $200 million from its original budget of $5 million for the year.
Read more... (source: www.ogj.com)


ExxonMobil 3Q earnings up nearly 50% despite Harvey impacts
6 November 2017, 7:20am
ExxonMobil Corp. posted third-quarter earnings of $4 billion, up from $2.7 billion in third-quarter 2016 as commodity prices improved and upstream and downstream performance strengthened. The results came despite some downstream expenses related to Hurricane Harvey, which impacted its 584,000-b/d Baytown and 365,000-b/d Beaumont refineries in Texas.
Read more... (source: www.ogj.com)


Unconventional growth
6 November 2017, 6:00am
Unconventional resource growth has predominantly been a North American phenomenon, but with China and Argentina now producing oil and gas from shale, the unconventional market has taken on the "international" moniker.
Read more... (source: www.ogj.com)


A new leasing spree
6 November 2017, 6:00am
In three encouraging developments involving federal land last month, the US oil and gas industry should find both validation and challenge.
Read more... (source: www.ogj.com)


PwC: US oil and gas M&A deal volume up, value down in 3Q
6 November 2017, 6:00am
While third-quarter deal value for US oil and gas mergers and acquisitions declined markedly from a strong first half of the year, deal volume increased both sequentially and year-over-year on the backs of strategic and financial investors, according to PwC LLP's latest energy deals report. Meanwhile, activity shifted away from the previously red-hot Permian basin.
Read more... (source: www.ogj.com)


OGJ Newsletter
6 November 2017, 6:00am
International news for oil and gas professionals
Read more... (source: www.ogj.com)


Novatek increases Kharbeyskoye field reserves
3 November 2017, 7:30pm
PAO Novatek is targeting Jurassic with exploration wells Nos. 306 and 307 to further develop Kharbeyskoye field in the Tazovskiy district of the Yamal-Nenets autonomous region. The company’s No. 305 well has already increased reserves of natural gas, condensate, and oil, Novatek said.
Read more... (source: www.ogj.com)


Senate Energy Democrats question timing of ANWR leasing hearing
3 November 2017, 4:22pm
Democrats on the US Senate Energy and Natural Resources Committee questioned whether it was appropriate to hold a Nov. 2 hearing on possibly allowing oil and gas leasing on the Arctic National Wildlife Refuge’s Coastal Plain when it was not yet clear why the issue needs to be considered now.
Read more... (source: www.ogj.com)


Beach Energy makes gas discovery in Cooper basin
2 November 2017, 4:56pm
Beach Energy Ltd., Adelaide, has made two natural gas discoveries in its Western Flank gas program in the South Australian section of Cooper basin.
Read more... (source: www.ogj.com)


Bishop releases new draft of federal lands energy policy overhaul
1 November 2017, 5:45pm
US House Natural Resources Committee Chairman Rob Bishop (R-Utah) released a new draft of proposed legislation to overhaul federal lands energy policy late on Oct. 31. The committee’s Energy and Mineral Resources Subcommittee, which discussed two earlier drafts at hearings in October, will examine this one on Nov. 7.
Read more... (source: www.ogj.com)


Oil Search to buy assets in Alaska’s North Slope
1 November 2017, 5:22pm
Sydney and Port Moresby-based Oil Search Ltd. has spread beyond Papua New Guinea to buy into oil permits in Alaska west of the Prudhoe Bay oil fields.
Read more... (source: www.ogj.com)


Ineos Shale acquires UK onshore interests
1 November 2017, 4:59pm
Ineos Shale has expanded its onshore exploration and development license area in the UK with an acquisition from Total E&P Ltd.
Read more... (source: www.ogj.com)


R-Cluster development advances off India
1 November 2017, 3:32pm
Reliance Industries Ltd. (RIL) has issued a letter of award to McDermott International Inc. for subsea development of deepwater R-Cluster natural gas fields on Block KG D6 offshore eastern India.
Read more... (source: www.ogj.com)


Brazil’s presalt rounds draw $1.9 billion on six blocks
30 October 2017, 6:38pm
Brazil’s second and third presalt tender rounds held on Oct. 27 drew signature bonuses of $1.9 billion on six of eight blocks offered. Unlike concession regime rounds, production-sharing contract rounds are unbiddable and set in advance. Government profit-share rates were the primary factor in the bids, says Wood Mackenzie Ltd.
Read more... (source: www.ogj.com)


Venezuelan choices worsened by another political failure
30 October 2017, 6:09am
Venezuelans know they would not be confronting only the authoritarian regime of President Nicolas Maduro if they resumed protests after yet another political failure.
Read more... (source: www.ogj.com)


IHS Markit: Reduced exploration restricting deepwater M&A activity
30 October 2017, 6:01am
Reduced spending for oil and gas exploration is limiting availability of quality deepwater assets for merger and acquisition deals, according to an IHS Markit report.
Read more... (source: www.ogj.com)


Iraq urged to improve oil service contracts
30 October 2017, 5:59am
To meet plans for oil production and refining capacity, the Iraqi government must improve contracts with international oil companies and attract foreign investment, says Arab Petroleum Investments Corp. (APICORP), Dammam.
Read more... (source: www.ogj.com)


Cenovus to sell Palliser assets in Alberta for $1.3 billion (Can.)
30 October 2017, 5:56am
Cenovus Energy Inc., Calgary, has agreed to sell its Palliser crude oil and natural gas assets in southeastern Alberta to Torxen Energy and Schlumberger Ltd. for $1.3 billion (Can.) in cash.
Read more... (source: www.ogj.com)


OGJ Newsletter
30 October 2017, 5:00am
International news for oil and gas professionals
Read more... (source: www.ogj.com)


Baker Hughes: US rig count falls 4 units to 909
27 October 2017, 6:05pm
The US rig count during the week ended Oct. 27 declined for the tenth time in 13 weeks. Baker Hughes’ tally of active rigs fell 4 units this week to 909. US oil-directed rigs gained 1 rig to reach 737. Gas-directed rigs in the US lost 5 units to 172. There continued to be no unclassified rigs drilling this week.
Read more... (source: www.ogj.com)


Xanadu-1 discovery’s crude oil similar to Cliff Head field
26 October 2017, 5:50pm
Analysis has shown that crude oil from Perth-based Norwest Energy Ltd. group’s Xanadu-1 discovery in the north Perth basin is of good quality and similar to that produced from Cliff Head oil field further offshore.
Read more... (source: www.ogj.com)


ExxonMobil enters long-term expansion for Argentina’s Vaca Muerta shale
25 October 2017, 7:57pm
ExxonMobil Corp. is to launch a Vaca Muerta pilot project that could lead to a staged development of about 300 horizontal wells with an estimated production of 11 million cu m/day once completed.
Read more... (source: www.ogj.com)


KrisEnergy begins G10/48 Thai drilling campaign
25 October 2017, 5:49pm
Petrovietnam Drilling & Well Service Corp.’s PV Drilling I jack up rig spudded the East Mayura-1 exploration well on Oct. 20 in the KrisEnergy Ltd.-operated G10/48 contract area in the Gulf of Thailand.
Read more... (source: www.ogj.com)


BHP Billiton reports LeClerc find details off Trinidad and Tobago
25 October 2017, 5:30pm
BHP Billiton Ltd.’s LeClerc discovery, drilled in the deep water offshore Trinidad and Tobago, has found 4-5 tcf of natural gas, according to the Caribbean twin-island nation’s Minister of Energy and Energy Industries Franklyn Khan.
Read more... (source: www.ogj.com)


Po Valley to revive historic Eni gas field
25 October 2017, 4:53pm
Po Valley Energy Ltd., Perth, is planning to revive Eni SPA’s former Selva gas field in northern Italy with the drilling of the Podere Maiar-1 well within the Podere Gallina permit near Bologna in mid-November.
Read more... (source: www.ogj.com)


Interior to offer 76.9 million acres in gulf lease sale
24 October 2017, 6:14pm
US Interior Sec. Ryan Zinke announced what would be the largest federal offshore oil and gas lease sale in history—76.9 million acres in the Gulf of Mexico offshore Texas, Louisiana, Mississippi, Alabama, and Florida—in an area the size of New Mexico in March 2018.
Read more... (source: www.ogj.com)


Hess to divest assets in Scandinavia, Equatorial Guinea
24 October 2017, 5:49pm
Hess Corp. reported taking several additional steps in the continued execution of its plan to refocus the company’s portfolio and allocate capital to higher return assets.
Read more... (source: www.ogj.com)


IHS Markit: Reduced exploration restricting global deepwater M&A activity
24 October 2017, 5:17pm
Reduced spending for oil and gas exploration is limiting availability of quality deepwater assets for merger and acquisition deals, according to an IHS Markit report.
Read more... (source: www.ogj.com)


YPF, Chevron increase Vaca Muerta investments in Argentina
24 October 2017, 5:05pm
Citing a 50% reduction in horizontal drilling costs, YPF SA and Chevron Corp. will add a third drilling rig to its 96,000-acre Loma Campana concession in Argentina’s Vaca Muerta shale before the end of October.
Read more... (source: www.ogj.com)


World won't meet temperature goal just by cutting CO2
23 October 2017, 3:44pm
Institutions shunning oil and gas ignore problems of feasibility in the management of global average temperature.
Read more... (source: www.ogj.com)


Deloitte: Executives' confidence now 'cautious' for quick industry recovery
23 October 2017, 3:39pm
A majority of oil and gas executives expect the price of West Texas Intermediate crude to remain in the $40-50/bbl range in 2017, according to a recently released survey conducted by Deloitte. In its 2017 Oil & Gas Executive survey, released Oct. 11, 64% of executives held this view.
Read more... (source: www.ogj.com)


EIA: Major US onshore regions' oil output to rise 81,000 b/d in November
23 October 2017, 3:34pm
Crude oil production from the major US onshore regions is forecast to increase 81,000 b/d month-over-month in November to 6.12 million b/d, the US Energy Information Administration said in its monthly Drilling Productivity Report.
Read more... (source: www.ogj.com)


COGA, API council jointly sue City of Thornton over regulations
23 October 2017, 3:29pm
The Colorado Oil & Gas Association (COGA) and the American Petroleum Institute's Colorado Petroleum Council (CPC) jointly sued the City of Thornton on Oct. 10 over new regulations that the trade associations said could hurt jobs, raise energy costs to Colorado consumers, and hurt the state's economy.
Read more... (source: www.ogj.com)


OGJ Newsletter
23 October 2017, 5:00am
International news for oil and gas professionals
Read more... (source: www.ogj.com)



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