US Rig Count Falls To 950
21 July 2017, 6:21pm
The total rig count in the U.S. fell by two to end the week of July 21 at 950 rigs, according to the latest report from Baker Hughes, a GE company (NYSE: BHGE). U.S. oil drillers cut rigs for a second week since January. The oil rig count was 764, down one from last week. Analysts said the decline was likely a pause in a drilling recovery expected to continue through at least 2019, according to a Reuters report. Still, the number was more than double the 371 oil rigs that were operating in the U.S. about this time a year ago. U.S. rigs targeting gas also dropped by one. The count stood at 186, compared to 88 a year ago.
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Suncor, Cenovus Target Low-carbon Goals For Oil Sands
21 July 2017, 3:06pm
The days of Alberta “dirty oil” may be numbered, judging by sustainability reports released this week from two of Canada’s biggest oil sands companies. Suncor Energy and Cenovus Energy pledged in 2016 to reduce the carbon-intensity of their crude oil by 30% and 33%, respectively, within a decade, and both claim they are making rapid progress toward their goals. Both companies also believe lowering emissions will significantly lower production costs. “It’s evident that to remain a central part of the energy equation, oil and gas producers need to be carbon-competitive and cost-competitive,” Suncor CEO Steve Williams said in the foreword to the company’s report, essentially echoing the message from Cenovus CEO Brian Ferguson. “We are moving aggressively toward the goal of harnessing new technology that transforms the GHG [greenhouse gas] footprint of our operations and our impact on the life cycle of our product. Technology and innovation are taking us there.”
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Ocean Rig to meet with creditors over 3.7B debt restructuring
21 July 2017, 2:28pm
Heavily indebted offshore dilling company Ocean Rig, is set to convene meetings with creditors hoping they’d approve the previously announced schemes to restructure the driller’s debt. According to the driller, the Grand Court of the Cayman has directed that four separate meetings be convened with creditors of Ocean Rig’s subsidiaries Drillships Financing Holding Inc. (“DFH”), […]
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Schlumberger Posts Smaller Quarterly Net Loss
21 July 2017, 2:11pm
Schlumberger is benefiting from strong North American shale drilling that has helped offset weak international markets. Net loss attributable to the company narrowed to $74 million, or 5 cents per share, in the second quarter ended June 30 from $2.16 billion, or $1.56 per share, a year earlier.
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ExxonMobil Sues US Over Fine Levied For Russia Deal Under Tillerson
21 July 2017, 1:15pm
ExxonMobil Corp. (NYSE: XOM) sued the U.S. government on July 20, blasting as "unlawful" and "capricious" a $2 million fine levied against it for a three-year-old oil joint venture with Russia's Rosneft. The U.S. Treasury Department earlier on July 20 slapped the world's largest publicly traded oil producer with the fine for "reckless disregard" of U.S. sanctions in dealings with Russia in 2014 when Secretary of State Rex Tillerson was ExxonMobil's CEO. The lawsuit and the Treasury's unusually detailed statement on ExxonMobil's conduct represented an extraordinary confrontation between a major American company and the U.S. government, made all the more striking because ExxonMobil's former CEO is now in President Donald Trump's Cabinet.
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Oil Prices Fall On Forecast Of Rising OPEC Production For July
21 July 2017, 1:05pm
Oil prices fell on July 21 after a consultancy report forecast a rise in OPEC production for July despite the group's pledge to curb output, reigniting concerns the market will stay awash with crude. Petro-Logistics, which tracks OPEC supply forecasts, said OPEC crude production would rise by 145,000 barrels per day (bbl/d) this month, taking the group's combined output above 33 million bbl/d. Higher supply from Saudi Arabia, the United Arab Emirates (UAE) and Nigeria would drive this month's gains, it said.
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Encana Smashes Profit Estimates As Oil, Gas Production Falls
21 July 2017, 12:40pm
Encana Corp. (NYSE: ECA) on July 21 posted a quarterly profit that handily beat estimates and the company said it was expecting a strong 2018 even with current commodity prices. Oil prices began to rise late last year after a two-year slump and are now hovering around $50 per barrel as an OPEC-led production cut and a rebound in demand slowly erode a global glut. Encana has benefited from downsizing its operations to focus on four core North American assets: the Montney and Duvernay in western Canada, and the Eagle Ford and Permian in the U.S.
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Schlumberger narrows 2Q loss. Sees number of shallow water FIDs ahead
21 July 2017, 12:39pm
Schlumberger has narrowed its second quarter loss to $74 million, compared to $2,16 billion a year ago. The world’s largest oilfield services provider posted the second quarter revenue of $7,46 billion, 4 percent up from $7,16 billion in the corresponding quarter of 2016. Sequentially, revenue grew eight percent, as Schlumberger had reported a revenue of […]
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Schlumberger Agrees To Buy Stake In Russian Drilling Firm Eurasia
21 July 2017, 11:02am
Schlumberger Ltd., the world’s largest oilfield services company, has agreed to buy a 51% stake in Russia’s biggest oilfield services firm Eurasia Drilling Co. (EDC), the Russian company said late on July 20. It is Schlumberger’s second attempt to buy part of EDC and would be the first U.S. purchase of a stake in Russia’s oil and gas sector since sanctions were imposed on Moscow for its role in the Ukraine crisis and the annexation of Crimea in 2014. In 2015, Schlumberger agreed to buy 45.65% of EDC for $1.7 billion, but the deal fell through after Russia’s antitrust regulator, the Federal Antimonopoly Service, repeatedly postponed its approval.  The new agreement is also subject to approval by the same antitrust body. Financial terms of the deal were not disclosed.
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Nam Cheong stops servicing debt amid restructuring talks
21 July 2017, 10:25am
Nam Cheong, a Singapore-listed offshore vessel owner, on Thursday said it would temporarily stop repayment on all of the company’s borrowing, while it looks at the debt restructuring options. This means, Nam Cheong said, that the company will not be making payment of the next coupon payment due on July 23, 2017 with respect to […]
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GALLERY: Maersk Oil puts all three Culzean jackets in place
21 July 2017, 9:00am
The Maersk Oil-operated high pressure, high temperature (HPHT) Culzean development in the UK sector of the North Sea has reached a key milestone with the completion of installation of all three of the project’s jackets. The Culzean field lies approximately 145 miles east of Aberdeen and is estimated to produce between 60,000-90,000 barrels of oil […]
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Exxon takes legal action over Treasury’s Russia sanctions penalty
21 July 2017, 8:01am
ExxonMobil is taking legal action challenging the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) move to penalize the oil company for alleged violations of sanctions against Russia. In a statement on Thursday, the Treasury said OFAC had assessed a $2,000,000 civil monetary penalty against ExxonMobil for violations of the Ukraine-Related Sanctions […]
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New rig contracts pour in for Ensco
21 July 2017, 7:29am
UK-based offshore driller Ensco has found work for a number of its jack-up as well as semi-submersible drilling rigs in the North Sea, Gulf of Mexico, Australia, and Qatar.  According to the driller’s latest fleet status report issued on Thursday, two semi-submersible drilling rigs have been awarded contracts in the U.S. Gulf of Mexico. Namely, […]
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Vaalco Energy forced to shut well offshore Gabon
21 July 2017, 7:14am
Houston-based oil and gas company Vaalco Energy has been forced to temporarily shut in a well at the Avouma platform offshore Gabon due to a problem with an electrical submersible pump. Vaalco said that an electrical submersible pump (ESP) in the South Tchibala 2-H well failed on July 18, resulting in the well being temporarily […]
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Woodside: Persephone start-up ready in August
21 July 2017, 7:12am
Australian energy company Woodside Petroleum has informed that its Persephone project off W. Australia is going ahead of schedule and under budget. Woodside said Thursday in its financial report for the second quarter 2017 that the project would be completed six months ahead of schedule. The company also added that Persephone would be delivered some […]
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Schlumberger to buy majority stake in Russian drilling firm
21 July 2017, 6:26am
The world’s largest oilfield services provider Schlumberger is buying a majority stake in the Russian drilling contractor Eurasia Drilling. The news was revealed by both Schlumberger and Eurasia Drilling on Thursday. Schlumberger is going to acquire a 51% stake in the drilling company. Alexander Djaparidze, EDC’s Chief Executive Officer said: “I warmly welcome Schlumberger as […]
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Subsea 7 wins more Brazilian work for pipelay trio
21 July 2017, 6:11am
UK-based subsea engineering, construction and services company Subsea 7 has been awarded a contract extensions for three pipelay support vessels (PLSVs) currently on long-term day-rate contracts offshore Brazil. These extensions have a combined value of approximately $250 million, the subsea company informed on Friday. The firm contract periods for the Seven Waves, Seven Rio and […]
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ION Geophysical gets continued listing warning from NYSE
21 July 2017, 6:10am
ION Geophysical, a geoscience company, has received written notice from the New York Stock Exchange (the NYSE) that it is not in compliance with the continued listing standards. In its statement in Friday, ION said that the company is considered below criteria established by the NYSE for continued listing because its average market capitalization has been less than $50 million […]
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Mermaid Maritime nets $4.6 M in new subsea deals
21 July 2017, 6:08am
Mermaid Maritime, a subsea and offshore drilling services company, has recently been awarded two subsea contracts with a combined estimated value of $4.6 million.  The company said on Friday that the first contract award will involve a short ROV campaign for pipeline touchdown monitoring for an international EPCIC contractor offshore in the Middle East GCC. […]
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Vroon’s newbuild subsea support vessel named in Amsterdam
21 July 2017, 6:05am
Dutch provider of offshore support vessels, Vroon Offshore Services, has named the newest addition to its fleet in a ceremony held on Thursday, July 20. The vessel was named the VOS Start at Damen Shiprepair in Amsterdam by Tracie Moyes from the vessel’s first charterer MHI Vestas Offshore. VOS Start, Vroon’s first subsea-support walk-to-work vessel, was […]
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Marine and energy insurer sets in motion new offshore advisory committee
21 July 2017, 5:12am
Marine and energy insurance association, Standard Club, has launched the Offshore Advisory Committee (SCOAC) in an attempt to drive developments in offshore protection and indemnity cover (P&I). Standard Club said that SCOAC would analyze offshore trends, assist the club in further understanding and disseminating industry best-practice, and develop new strategies to provide a focused direction […]
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Chart: Eastern Rig Count As Of July 21, 2017
21 July 2017, 5:00am
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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UAE Energy Minister Hopes Global Oil Markets Begin To Tighten In 2H
21 July 2017, 12:00am
UAE Energy Minister Suhail bin Mohammed al-Mazroui says he hopes that global supplies will start tightening in the second half of the year.
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Schlumberger Buys Eurasia Drilling Stake In Test Of Russia-US Ties
21 July 2017, 12:00am
Schlumberger NV has agreed to buy a 51% stake in Russian peer Eurasia Drilling Co (EDC) in a deal likely to test Russia-US ties.
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Husky Energy Posts Smaller 2Q Loss On Higher Oil Prices
21 July 2017, 12:00am
Husky reports a smaller loss, helped partly by higher oil prices and an increase in production.
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Canada's Encana Smashes Profit Estimates, Shares Rise
21 July 2017, 12:00am
Encana posts a quarterly profit that handily beat analysts' estimates and raised its full-year core asset production growth forecast.
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GE Sinks as Oil Outlook Sputters, Marring End of Immelt's Tenure
21 July 2017, 12:00am
Even in his final days as General Electric Co.'s CEO, Jeffrey Immelt can't escape the stench of oil.
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US Owns 700 Million Barrels of Oil. Trump Wants to Sell It
21 July 2017, 12:00am
President Donald Trump wants to sell part of the reserve.
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Deals Set Bullish Tone As Peru Export Halt Tightens Market
21 July 2017, 12:00am
Asian spot LNG prices step higher this week, shrugging off months of weakness.
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Malaysia's Petronas Delivers First LNG Cargo To Thailand's PTT
21 July 2017, 12:00am
Petroliam Nasional Bhd announces the delivery of its first liquefied natural gas (LNG) cargo to Thailand.
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Oil Dives About 2.5%; OPEC Crude Output Rise Forecast
21 July 2017, 12:00am
Oil prices slid on Friday, settling about 2.5% lower after a consultancy forecast a rise in OPEC production.
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OPEC, Russia to Stand Pat on Oil Deal Even as Glut Persists
21 July 2017, 12:00am
OPEC and Russia's plan to clear the global oil glut hasn't worked as they hoped, but there's little expectation the world's largest producers will act more aggressively when they meet this weekend.
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LyondellBasell Plans Its Largest Investment Ever Near Houston
21 July 2017, 12:00am
The new PO/TBA project should create up to 2,500 construction and approximately 160 permanent jobs.
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Greenpeace Activists Protest Near Oil Rig In Norway's Arctic Sea Area
21 July 2017, 12:00am
Environmental activists protest near an offshore rig contracted by Statoil in the remote Norwegian Arctic.
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Trump's America-First Pipeline Plan Draws Ire of American Oil
21 July 2017, 12:00am
Donald Trump's allies in the oil industry are warning the president that his bid to boost US steelmakers could backfire against their efforts to achieve his goal of "American energy dominance."
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Neverland Tanker With Disputed Kurdish Oil Reappears Off Malta
21 July 2017, 12:00am
The Neverland tanker has reappeared off the coast of Malta after going off radar near Canada on June 30.
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S. Korea Easing Rules At Oil Terminals In Effort To Become Trade Hub
21 July 2017, 12:00am
South Korea is in the process of easing blending restrictions at its oil storage terminals as the world's No. 5 crude importer bolsters an effort to become a North Asia trading hub.
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EU Court Rejects Polish Bid To Halt Opal Pipeline Deal, Verdict In 2019
21 July 2017, 12:00am
A European Commission deal giving Gazprom a bigger share of the Opal gas pipeline can go ahead for now until a ruling is issued in 2019.
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Analyst: Technology Gains In US Shale Ramp Up Production, Pressure
20 July 2017, 6:07pm
Operators are using technologies such as predictive analytics, microseismic and far-field and near-wellbore diverters to pump more proppant for longer laterals and drill deeper wells. However, as operators use these technology advancements to increase their odds of surviving a sub-$50/bbl world, the industry’s innovation is also putting pressure on oil prices, analysts say. “The use of advanced analytics along with other technology enhancements is accelerating oil supply-cost reductions. Precision targeting allows E&Ps to land laterals in better rock,” analysts at Barclays said in a note issued earlier in July. “This innovation, combined with more intensive completions, results in better wells, lower costs and expanding inventory.” Barclays added that it believes U.S. oil production growth will “surprise to the upside again.” “The impact of technological innovation on oil and gas drilling is often overlooked by E&P investors,” the firm said. “We believe improved well results, flattish well costs [per lateral foot] and rising per-well productivity will lead U.S. oil volumes higher and put downward pressure on long-term oil prices.”
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Panoro unit approves FID on development of Dussafu oil fields
20 July 2017, 5:04pm
Pan Petroleum Gabon BV, a fully owned subsidiary of Panoro Energy ASA, London, reported its approval of the financial investment decision for the development of the Dussafu oil fields offshore southern Gabon.
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Twinza signs jack up rig contract for Pasca field drilling
20 July 2017, 4:11pm
Twinza Oil Ltd., Perth, has signed a contract with China Oilfield Services Ltd. for use of the COSLSeeker jack up drilling rig to drill an appraisal well in Pasca A gas field in the Gulf of Papua offshore Papua New Guinea.
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US Fines ExxonMobil Over Russia Sanctions Violations
20 July 2017, 3:33pm
The U.S. Treasury Department on July 20 said it was fining global oil company ExxonMobil Corp. (NYSE: XOM) $2 million for violating sanctions on Russia in May 2014. The heads of the company’s U.S. subsidiaries signed eight documents between May 14 and May 23, 2014, with Igor Sechin, the head of Russia’s largest oil producer, Rosneft, Treasury’s Office of Foreign Assets Control said in a statement on its website. Sechin had been blacklisted by the U.S. just weeks earlier. The Treasury unit, which enforces sanctions, found ExxonMobil had not voluntarily self-disclosed the violations, “and that the violations constitute an egregious case.”
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Turkey PM Warns Cyprus On 'Untimely And Dangerous' Energy Moves
20 July 2017, 2:59pm
Turkish Prime Minister Binali Yildirim on July 20 warned Cyprus its moves to explore for energy around the eastern Mediterranean were "untimely and dangerous," adding that Ankara would continue to protect the rights and interests of Turkish Cypriots.
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Woodside Petroleum Posts 6.8% Drop In Q2 Output
20 July 2017, 1:58pm
Woodside Petroleum reported a 6.8% fall in oil and gas output in second-quarter 2017 due to planned and unplanned outages and a previously flagged reduction in its share of pipeline gas from the North West Shelf. Australia’s biggest independent oil and gas producer said production fell to 20.7 million barrels of oil equivalent (MMboe) in the second quarter from 22.2 MMboe in the same quarter last year. Second-quarter revenue rose to $867 million from $825 million a year earlier, but missed a forecast of $976 million from Royal Bank of Canada. Quarterly sales volumes fell 3.8% to 20.3 MMboe.
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Brazil Publishes Contract Model For 14th Round Oil-rights Auction
20 July 2017, 1:49pm
Brazil's oil watchdog ANP on July 19 published the model contract for its 14th round auction of oil and natural gas exploration rights scheduled for Sept. 27. On offer are 287 blocks in the offshore basins of Sergipe-Alagoas, Espírito Santo, Campos, Santos, Pelotas, and onshore basins in Parnaíba, Paraná, Potiguar, Recôncavo, Sergipe-Alagoas and Espírito Santo.
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First batch of coated Nord Stream 2 pipes arrives in Finland
20 July 2017, 1:41pm
The first concrete weight coated (CWC) pipes for the planned 1,200-kilometer Nord Stream 2 twin pipelines have been delivered by rail at the Port of Koverhar in Hanko, Finland. Nord Stream 2 AG, the Gazprom-owned company developing the pipeline, said that approximately 200 kilometers of CWC pipes would be transported by train to Koverhar between […]
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Share the energy! Inspirational networking during Offshore Energy
20 July 2017, 1:32pm
In the afterhours of the first exhibition day, on Tuesday the 10th of October you, your colleagues, business partners and potential prospects are invited to enjoy dinner and drinks, music and entertainment in a relaxing environment during the Official Networking Event of Offshore Energy hosted by iPS. The offshore energy market is moving and ‘energy […]
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African Petroleum Lets Blocks Sale Exclusivity Clause Lapse
20 July 2017, 1:04pm
African Petroleum has agreed to let an exclusive agreement lapse in talks to sell oil licenses in Gambia and Senegal, the company said July 20. African Petroleum had been in negotiations to sell a 70% stake in blocks A1 and A4 offshore Gambia to an unnamed third party along with another license in neighboring Senegal. The blocks, which could contain more than 3 billion barrels of oil, are adjacent to ones in Senegal where large discoveries have been made.
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Brent Crude Climbs Above $50 For First Time Since Early June
20 July 2017, 1:00pm
[Editor's note: This story was updated at 1:55 p.m. CST July 20.] Oil prices dipped on July 20 in choppy U.S. trading, as nagging worries about abundant global crude supplies dragged prices lower after an early rally pushed Brent above $50 per barrel (bbl) for the first time since early June. Traders predicted prices would hold near current levels ahead of a July 24 meeting between key OPEC and non-OPEC producers in St. Petersburg, Russia. The market has been watching reports that Saudi Arabia, the world's largest crude producer, is considering an additional supply cut to bring markets into balance. The Financial Times reported July 19 that the Saudis were considering additional cuts, citing a consultant's report. On July 18, Reuters reported the country was committed to working with other countries to draw down stocks, taking into account the surprising increase in production from OPEC members Nigeria and Libya.
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PHOTO: Heerema places Culzean jacket on seabed for Maersk Oil
20 July 2017, 12:46pm
Dutch contractor Heerema Fabrication Group on Thursday posted an image through its social media channels showing the installation of the Culzean CPF jacket. The Dutch company added that the Culzean ULQ jacket has now also been installed in the UK North Sea.  The Maersk Oil-operated Culzean gas field development concept consists of a wellhead platform, a central […]
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Keppel O&M profit sinks amid prolonged downturn
20 July 2017, 11:32am
Singapore’s offshore builder Keppel Offshore & Marine experienced a decline in both profit and revenues during the second quarter 2017 affected by lower volume of work amid prolonged downturn.  Keppel Corporation on Thursday posted financial results for the second quarter of 2017 according to which revenues for the company’s Offshore & Marine division declined by […]
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Woodside: Wheatstone start-up imminent
20 July 2017, 10:09am
Australian oil and gas company Woodside Energy has said that the start-up of the giant Wheatstone gas project in W. Australia is imminent. The start-up of the giant Chevron-operated LNG development had been planned for year-end 2016, only to be put off for mid-2017 in February 2016. In its quarterly update on Thursday, Woodside said […]
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African Petroleum hopes to get clarity on Gambian situation in August
20 July 2017, 8:23am
African Petroleum (AP) has allowed for its exclusivity agreement with an unnamed oil and gas company, covering the farm-out of the SOSP license in Senegal and the A1 and A4 licenses in The Gambia, to lapse while hoping to resolve the uncertainty over its position in The Gambia early next month.  African Petroleum holds a 90% operated […]
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Eni takes blame for oil and tar balls on UK beaches
20 July 2017, 7:25am
Italian oil company Eni has reportedly taken responsibility for oil and tar balls that have washed up along the coast from Cleveleys to Fleetwood, at Knott End and in Blackpool in the UK. Wyre Council on Wednesday said it was working with the Maritime and Coastguard Agency (MCA) to establish the extent of the pollution […]
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Sparrows and SPIE in joint cranes deal on Total’s Moho Nord
20 July 2017, 7:23am
Sparrows Group and SPIE Oil & Gas Services have secured their first joint delivery project, which is in West Africa, after Total awarded the partners a crane maintenance contract on the Moho Nord offshore development. Total started production from the Moho Nord deep offshore project, located 75 kilometers offshore Pointe-Noire in Congo, in March 2017. […]
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PHOTO: Anchor handler Maersk Mariner heading to Australia for first gig
20 July 2017, 7:21am
Maersk Supply Service’s newest anchor handler, the Maersk Mariner, has started its maiden voyage from Kleven Verft in Norway to Australia. The Danish offshore vessel provider said via social media channels on Thursday that, upon arrival to Australia, the vessel would begin its first job with the Australian energy giant, Woodside Energy. Maersk Supply Service […]
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Noble terminates Atwood Advantage drillship contract
20 July 2017, 6:11am
Noble Energy and its partners at the giant Leviathan gas field have terminated the contract for the Atwood Advantage drillship. According to Delek, a partner in the field the Leviathan 5 appraisal and production well, being drilled by the rig, is expected to be completed soon, after reaching the final depth planned and verification of the […]
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Dana Gas chooses AGR software for exploration in Egypt
20 July 2017, 6:00am
United Arab Emirates-based natural gas company, Dana Gas, has decided to use AGR software for deep water exploration in Egypt. AGR said on Wednesday that the company’s software team signed a software as a service contract with Dana Gas PJSC to supply the latest version of its P1 software. According to the software company, the […]
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Seacroft Marine adds new engineering manager to the team
20 July 2017, 4:48am
Aberdeen-based maritime specialist Seacroft Marine Consultants has appointed a new engineering manager in an attempt to develop more specialized offshore marine projects. Seacroft Marine named Richard Pearce to the role of marine engineering and dynamic positioning (DP) manager. Pearce has sixteen years of experience in engineering and technical disciplines of the marine and offshore industry, including […]
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Suretank helifuel tanks for two rigs in Gulf of Thailand
20 July 2017, 4:18am
Suretank, a provider of engineered solutions to the offshore o&g industry, has manufactured and delivered specialized helifuel re-fuelling tanks and jettison skids for two rigs operating in the Gulf of Thailand.  Suretank said on Tuesday that the equipment was manufactured for offshore driller Shelf Drilling. Apart from the helifuel system, a number of baskets and […]
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African Petroleum Lets Blocks Sale Exclusivity Clause Lapse
20 July 2017, 12:00am
African Petroleum has agreed to let an exclusive agreement lapse in talks to sell oil licenses in Gambia and Senegal, it says.
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Oil Settles Down After Early Rally Lifts Brent Past $50
20 July 2017, 12:00am
Oil settles lower in choppy trading, as nagging worries about abundant global crude supplies sank prices after an early rally boosted Brent above $50 per barrel for the first time since June 7.
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Singapore's Keppel Posts Lower 2Q Profit, Says Rig Market Outlook Muddy
20 July 2017, 12:00am
Keppel posts a 21% drop in its quarterly profit and warned it did not expect a speedy recovery in the offshore and marine market.
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CEO: France's GTT Sees Opportunities In Increased Gas Production
20 July 2017, 12:00am
GTT can benefit in the coming years from increased LNG supply as it will boost the need for transportation, Chief Executive Philippe Berterottiere says.
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Santos basin to be surveyed with ocean-bottom nodes
19 July 2017, 9:23pm
Petroleo Brasileiro SA (Petrobras) has signed a contract with CGG to conduct a 2,180-sq-km full fold 3D survey using ocean-bottom nodes in the deepwater Santos basin offshore Brazil.
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OGA provides more data packages in advance of 30th licensing round
19 July 2017, 4:49pm
The UK Oil & Gas Authority (OGA) has provided more offshore data in advance of its 30th offshore licensing round, which is expected to be announced later this year.
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ExxonMobil pulls out of East Natuna field development
19 July 2017, 4:44pm
ExxonMobil Corp. has decided to walk away from development of the East Natuna natural gas permit in Indonesia saying it no longer wishes to continue discussions or activity in the block.
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Delek to receive $980M from Tamar, Dalit sale
19 July 2017, 2:15pm
Israel’s energy firm Delek has informed it has fulfilled all conditions for the sale of its 9.25% interests in the Tamar and Dalit fields, located in the Mediterranean Sea, offshore Israel. The company recently said it would sell its stake in the fields to the newly established entity called Tamar Petroleum. According to the plan […]
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COSL rig scores Papua New Guinea gig with Twinza Oil
19 July 2017, 12:41pm
China Oilfield Services Limited (COSL), a Chinese offshore services provider, has won a contract to perform drilling operations in Papua New Guinea for the Australian oil & gas company, Twinza Oil. COSL said on Wednesday that the contract had already been signed by the two parties. According to the company, this is the first time […]
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Rowan finds more drilling work for jack-up rigs
19 July 2017, 12:07pm
Offshore driller Rowan Companies has been awarded new contracts and contract extensions for its jack-up drilling rigs working in the UK, Norway, Saudi Arabia and Trinidad.  In its fleet status report on Wednesday, the driller reported that the 2011-built jack-up drilling rig Rowan Norway has been hired for accommodation work in the UK by Repsol Sinopec for […]
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Iranian firms sign field-development MOUs
18 July 2017, 4:19pm
Two state-owned oil companies in Iran have signed separate memoranda of understanding with international counterparts covering field development in the Islamic Republic.
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Horizon Oil increases share of Papua New Guinea acreage, resources
18 July 2017, 3:55pm
Horizon Oil Ltd., Sydney, has increased its interest in the total certified resources in the western foreland fields in Papua New Guinea.
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Quadrant secures rig for Phoenix South appraisal well
18 July 2017, 3:12pm
Quadrant Energy Ltd., Perth, has executed a contract with Transocean Ltd. for use of the GSF Development Driller-1 semisubmersible drilling rig for the planned Phoenix South-3 well in the Bedout basin offshore Western Australia.
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OGA reports awards for 2016 Supplementary Offshore Licensing Round
17 July 2017, 7:03pm
The UK Oil & Gas Authority (OGA) has reported offering for award 12 licenses to 10 companies in the 2016 Supplementary Offshore Licensing Round, which closed for applications in March.
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Alta appraisal well in southern Barents tests 6,050 b/d
17 July 2017, 5:11pm
An appraisal well for the 2014 Alta discovery in the southern Barents Sea has tested at 6,050 b/d.
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Statoil reports small gas discovery in Barents Sea
17 July 2017, 4:36pm
Statoil ASA reported a small natural gas discovery in the Hammerfest basin in the Barents Sea about 21 km southeast of the Snohvit field.
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EPA proposes mostly lower renewable fuel obligations for 2018
17 July 2017, 3:09pm
The US Environmental Protection Agency proposed renewable fuel obligations for 2018 that generally are lower than quotas it previously adopted for 2017. The proposed volumes reflect market realities focused on actual production and consumer demand while recognizing challenges in bringing advanced biofuels to the marketplace, Administrator E. Scott Pruitt said.
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WoodMac: Global upstream project FIDs may double in 2017
17 July 2017, 2:29pm
The number of global upstream projects reaching final investment decision (FID) could double to 25 in 2017 from 12 last year, research and consulting firm Wood Mackenzie Ltd. says in a new report.
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IEA: Upstream oil and gas investment continued to tumble in 2016
17 July 2017, 2:19pm
Upstream oil and gas investment continued to tumble in 2016, falling 26% in nominal terms to $434 billion, which was close to the rate of decline in 2015, according to the International Energy Agency's 2017 World Energy Investment report.
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Investment for supply security
17 July 2017, 2:06pm
The 2017 World Energy Investment Report by the International Energy Agency showed that the fall in global upstream oil and gas investment in 2015 and 2016 totaled $345 billion. The number of sanctioned crude oil projects in 2016 reached the lowest level since before 1950.
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ExxonMobil, Statoil to operate blocks off Suriname
13 July 2017, 8:39pm
An ExxonMobil Corp.-led group and Statoil ASA have been chosen to respectively operate two blocks offshore Surname.
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Planned offshore leasing review draws party-line questions at hearing
13 July 2017, 5:33pm
The Trump administration’s intentions to consider opening more of the US Outer Continental Shelf to oil and gas leasing in a new management program it plans to develop drew equally strong support from Republicans and opposition from Democrats at a July 12 US House of Representatives Natural Resources subcommittee hearing.
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BOEM approves Eni’s Beaufort Sea exploration plan
13 July 2017, 4:29pm
The US Bureau of Ocean Energy Management conditionally approved a Beaufort Sea exploration plan it received from Eni US Operating Co., a subsidiary of Italian multinational oil and gas company Eni SPA, for the drilling of four exploration wells in federal submerged lands from its preexisting Spy Island drill site in Alaskan state waters starting in December, the US Department of the Interior agency said on July 12.
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Statoil lets rig contracts for exploration offshore Brazil
13 July 2017, 4:18pm
Statoil ASA said it has let rig contracts for offshore exploration in the BM-S-8 license area in Brazil’s Santos basin.
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ConocoPhillips’ Barossa development plans made public
13 July 2017, 3:19pm
Official proposals for the ConocoPhillips-led consortium’s Barossa and Caldita natural gas fields’ development in the offshore Bonaparte basin 300 km north of Darwin in the eastern Timor Sea have been made public by the Australian National Offshore Petroleum Safety & Environmental Management Authority (NOPSEMA).
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Seismic survey uncovers hydrocarbon potential off Timor Leste
12 July 2017, 9:36pm
Preliminary evaluation of data obtained by the 2016 Crocodile 3D seismic survey off the southeast tip of Timor Leste indicates the presence of more than 30 individual closed seismic structures at three geological levels—Jurassic, Triassic, and Permian—which are frequently stacked vertically and seen in 17 geographically distinct locations.
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Eni’s Amoca-3 well off Mexico sparks fast-track development plan
12 July 2017, 8:29pm
Eni SPA’s Amoca-3 well in the shallow waters offshore Mexico has boosted the Italian firm’s resource estimate of Amoca field to 1 billion boe in place and prompted a fast-track development plan.
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Talos discovers oil with Zama-1 well offshore Mexico
12 July 2017, 7:28pm
Talos Energy LLC’s Zama-1 well has discovered an 1,100-ft contiguous gross oil-bearing interval on Block 7 about 37 miles offshore the Port of Dos Bocas, Mexico.
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Statoil to buy additional 10% in license offshore Brazil
12 July 2017, 4:39pm
Statoil ASA is to buy an additional 10% interest in the BM-S-8 license in the Santos basin offshore Brazil for $379 million.
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Florida senator releases DOD letters backing eastern gulf moratorium
12 July 2017, 3:39pm
The office of US Sen. Bill Nelson (D) of Florida released two letters on July 11 from officials at the US Department of Defense urging retention of a moratorium on offshore oil and gas leasing in the eastern Gulf of Mexico.
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IEA: Upstream oil and gas investment continued to tumble in 2016
11 July 2017, 5:01pm
Upstream oil and gas investment continued to tumble in 2016, falling 26% in nominal terms to $434 billion, which was close to the rate of decline in 2015, according to the International Energy Agency’s 2017 World Energy Investment report.
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Cairn-led group makes oil discovery offshore Senegal
11 July 2017, 4:21pm
The Cairn Energy PLC-led group has made an oil discovery with the FAN South-1 exploration well drilled in deep water offshore Senegal.
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DNO fast-tracks Peshkabir discovery in Iraq’s Kurdistan region
11 July 2017, 4:15pm
Norway’s DNO ASA is fast-tracking its Peshkabir discovery on the Tawke license in the Kurdistan region of Iraq with plans to acquire and install a production facility by yearend. That work will be followed by a pipeline connection to the Tawke export terminal at Fish Khabur.
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WoodMac: Global upstream FIDs may double in 2017
11 July 2017, 3:15pm
The number of global upstream projects reaching final investment decision (FID) could double to 25 in 2017 from 12 last year, research and consulting firm Wood Mackenzie Ltd. says in a new report.
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Statoil: Results dry in two-well exploration program off Newfoundland and Labrador
10 July 2017, 5:31pm
Statoil ASA and partner Husky Energy Inc. have finalized a two-well exploration drilling program in the Flemish Pass basin offshore Newfoundland and Labrador. The wells, both within tie-back vicinity to Statoil’s 2013 Bay du Nord discovery, were dry holes.
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AWE begins drilling of Waitsia-4 appraisal well
10 July 2017, 4:18pm
AWE Ltd., Sydney, has spudded the last well in its 2017 appraisal program in Waitsia gas field onshore the northern part of the Perth basin in Western Australia.
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Linn, Citizen Energy to form Merge-SCOOP-STACK company
10 July 2017, 2:31pm
Linn Energy Inc., Houston, and Citizen Energy II LLC, Tulsa, have each agreed to contribute 70,000 net acres in Oklahoma to form Roan Resources LLC, an equally owned company focused on the Merge-SCOOP-STACK play of the Anadarko basin.
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Carrizo to acquire Delaware basin properties for $648 million
10 July 2017, 2:29pm
Carrizo Oil & Gas Inc., Houston, has agreed to buy 16,488 net acres in Reeves and Ward counties of West Texas from Midland-based ExL Petroleum Management LLC, a portfolio company of Houston private equity firm Quantum Energy Partners, for $648 million in cash.
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Canada's oil sands deals
10 July 2017, 7:34am
A string of 2017 transactions within Canada's oil sands confirmed Wood Mackenzie Ltd.'s forecast for oil sands consolidation. WoodMac analysts in February forecast that oil sands will continue to be a stable source of world oil supply.
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OGJ Newsletter
10 July 2017, 5:00am
International news for oil and gas professionals
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Lebanon closes in on first offshore bid round
7 July 2017, 7:24pm
Lebanese officials reported on plans to award four offshore blocks by Nov. 15 in the country’s first attempt at establishing its domestic oil and gas resources. Citing the 150-year history of oil and gas operations worldwide, Minister of Energy and Water Cesar Abi Khalil said, “We’re coming a bit late.” His remarks were made at a roadshow hosted by law firm Mayer Brown on July 6 in Houston.
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BOEM reduces shallow-water royalty rate for upcoming lease sale
7 July 2017, 3:54pm
The US Bureau of Ocean Energy Management lowered the shallow-water royalty rate for proposed Outer Continental Shelf Lease Sale 249 in the Gulf of Mexico to 12.5% from the original 18.75%. The new rate, which is the same as the one for federal onshore oil and gas royalties, would apply in water less than 200 m, the US Department of the Interior agency reported on July 7 after completing an analysis of its royalty rates.
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Petrobras, Chevron offer block off Brazil
7 July 2017, 3:11pm
Petroleo Brasileiro SA (Petrobras) has filed initial disclosures for divestment of the southern Campos basin block encompassing the Maromba heavy-oil discovery offshore Brazil.
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Zinke signs order to address federal onshore drilling permit delays
6 July 2017, 9:24pm
US Interior Sec. Ryan Zinke signed an order on July 6 aimed at reducing oil and gas drilling permit delays on federal onshore lands and holding lease sales at least quarterly.
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Gambia approves FAR’s farm-in to offshore blocks
6 July 2017, 8:20pm
The Gambian government has approved an agreement in which FAR Ltd., Perth, will acquire 80% interest and operatorship of Houston-based Erin Energy Corp.’s offshore A2 and A5 blocks. Erin Energy will retain 20% working interest.
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Santos-led group trials directional drilling in Cooper basin
6 July 2017, 4:30pm
The Santos Ltd.-led South Australian Cooper basin joint venture has successfully trialled a two-well gas development program aimed at finding resources by directionally drilling from nonproducing wells.
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Statoil, partners to develop Snefrid Nord gas discovery
6 July 2017, 3:18pm
Statoil ASA and partners have decided to develop the 2015 Snefrid Nord natural gas discovery near Aasta Hansteen field in the Norwegian Sea.
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BSEE approves 69 offshore well permits so far this year
5 July 2017, 8:59pm
The US Bureau of Safety and Environmental Enforcement has approved 69 federal offshore oil and well permits during this year’s first half, BSEE Director Scott A. Angelle said.
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Statoil launches three-well UK exploration campaign
5 July 2017, 4:49pm
Statoil ASA is set to spud the Mariner Segment 9 well in early July, beginning a three-well exploration campaign on the UK Continental Shelf.
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ONGC Videsh to acquire interest in Namibia offshore from Tullow
5 July 2017, 4:24pm
India’s ONGC Videsh Ltd. is to acquire 30% in an exploration license offshore Namibia from a unit of Tullow Oil PLC.
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Statoil finds oil near Johan Castberg in Barents Sea
5 July 2017, 4:20pm
The Statoil ASA-operated Kayak well in production license 532 of the Barents Sea found oil in two sandstone intervals with thicknesses of 27 m and 18 m, with moderate-to-poor reservoir quality in the upper part of the Kolje formation.
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AWE confirms southern extension with Waitsia-3 appraisal well
5 July 2017, 3:50pm
AWE Ltd., Sydney, reported it has confirmed a southern extension to its onshore north Perth basin Waitsia gas field when appraisal well Waitsia-3 encountered strong gas shows across a 1,250-m gross interval, including the Kingia and High Cliff Sandstone reservoir targets.
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Tunneled pipelines in seismic zones need determined limit length
3 July 2017, 8:04pm
Safely operating natural gas pipelines through inclined tunnels in seismic regions requires stress analysis research. Incline angle, inclined pipe length, cover depth, pressure, and temperature are among the factors affecting pipe stress. Proper consideration of these factors can determine limit length at varying incline angles.
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BLM seeks comments on ways to revise, improve planning process
3 July 2017, 7:38pm
The US Bureau of Land Management began to revise its planning procedures by soliciting comments on ways it can be timelier and more efficient. The July 3 action came after US President Donald Trump signed House Joint Resolution 44, which nullified the agency’s Planning 2.0 rule, in March.
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GUIDE TO WORLD CRUDES: North Sea Schiehallion crude maintains steady quality
3 July 2017, 7:21pm
BP Oil International Ltd., a subsidiary of BP PLC, has reissued an assay for Schiehallion crude oil to coincide with the May 2017 resumption of production from the Schiehallion area. Field redevelopment is part of the multibillion-pound Quad 204 project in the west of Shetland region offshore UK.
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BEYOND BACK-TO-BASICS: PROCESS PRINCIPLES AND CONCEPTS-2: Understanding reflux in distillation towers
3 July 2017, 7:17pm
Following installation of a new air-cooled condenser as part of its crude distillation unit's preflash tower overhead, a US Midwestern refinery began producing off-spec light naphtha that led to catalyst coking in a downstream naphtha reformer.
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Oil companies invest in digitalization
3 July 2017, 7:04pm
Oil and gas companies are investing in data analytics and big data. Most industry executives expect corporate strategy increasingly will include the ability to compete on data management and analytic proficiency.
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Operators use reservoir metrics to select bid prospects
3 July 2017, 6:59pm
Complex data packages associated with bid appraisals require operators' time and careful attention. Financial stakes are high, yet bid organizers typically limit the time allowed for preparation work to a few weeks.
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Unconventional resources, proving ground for applied analytics
3 July 2017, 6:39pm
Synergies between data analytics and unconventional exploration and development offer operators a productive future. Exploration companies are adopting an increasingly collaborative mindset among the disciplines employed throughout the life of an oil and gas play.
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Colorado, US government allege PDC Energy exceeded VOC limits
3 July 2017, 6:27pm
PDC Energy Inc. violated federal and state emissions control requirements with emissions of volatile organic compounds (VOC) from storage tanks at its Denver-Julesburg basin oil and gas operations, the US Department of Justice, US Environmental Protection Agency, and the state of Colorado jointly said in a June 26 civil complaint.
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BHI: Global rig count activity mixed in May
3 July 2017, 6:02pm
A winding down of seasonal drilling downtime in Canada combined with the continuing US drilling rebound ensured the worldwide rig count was back on an upward trajectory in May. Outside North America, gains in Latin America, Europe, and the Middle East were almost completely offset by losses in Asia Pacific and Africa.
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Gazprom Neft acquires stake in Evrotek-Yugra from Repsol
3 July 2017, 5:41pm
PJSC Gazprom Neft has acquired a 25.02% stake in Evrotek-Yugra, which is owned by Spain’s Repsol SA and holds exploration and production rights to seven license blocks in the Khanty-Mansiysk autonomous okrug.
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Egdon fighting to develop UK discovery
3 July 2017, 5:23pm
Egdon Resources PLC, Odiham, UK, is fighting for approval to develop Wressle oil field in the Yorkshire and the Humber region of England. The company said it will appeal a Jan. 11 rejection of its original application by the North Lincolnshire County Council’s Planning Committee after the committee on July 3 also rejected a supplemental planning application.
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Preemptive fantasies
3 July 2017, 4:41pm
Nothing jeopardizes capital more thoroughly than do-or-die bets on the future of oil. That lesson from history should demolish efforts to make oil and gas companies account today for economic and regulatory conditions years or decades from now.
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Total, NIOC to develop Phase 11 of South Pars gas field
3 July 2017, 4:38pm
National Iranian Oil Co. (NIOC) will begin supplying its domestic market in 2021 with the country’s first-ever international petroleum contract (IPC) with Total SA and state-owned China National Petroleum Co. (CNPC) for Phase 11 of the giant South Pars gas field (SP11).
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OGJ Newsletter
3 July 2017, 5:00am
International news for oil and gas professionals
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Give states primacy to manage federal oil and gas, Utah official says
30 June 2017, 8:10pm
A Utah official recommended that Congress develop a process to give states primacy in managing federal oil and gas resources within their borders that are willing to assume the responsibility.
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AWE gets option to return to offshore Perth basin
30 June 2017, 5:50pm
Key Petroleum Ltd., Perth, and AWE Ltd., Sydney, have agreed binding terms for Key’s acquisition of AWE’s 100% interest in production licence L7 (R1) in the onshore North Perth basin, which contains Mount Horner oil field.
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BP drops interest in Katambi discovery offshore Angola
30 June 2017, 4:27pm
BP PLC has relinquished its 50% interest in Block 24/11 offshore southern Angola after determining the 2014 Katambi gas discovery to be uncommercial.
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Trump signals intention to achieve American ‘energy dominance’
30 June 2017, 4:22pm
US President Donald Trump announced a series of actions aimed at achieving not just American energy independence, but dominance. The initiatives include opening federal offshore areas to oil and gas development under a 2019-24 leasing program, building a crude oil pipeline to Mexico, and authorizing more LNG exports sooner, he told government, business, and labor leaders at the US Department of Energy.
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India describes two open-acreage contracts
29 June 2017, 5:37pm
The government of India will offer two types of oil and gas contract, based on the span of operation, under its new Open-Acreage Licensing Program.
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Dorado-1 spud date slips behind Phoenix South-3
29 June 2017, 2:38pm
The Perth-based duo of Quadrant Energy Ltd. and Carnarvon Petroleum Ltd. has decided to delay the drilling of the prospective Dorado-1 wildcat well in the Bedout sub-basin off Western Australia until mid-2018. It will now follow the group’s second appraisal well on the Phoenix South oil and gas discovery.
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WoodMac: Conventional reserves play prominent role in short-term exploration outlook
29 June 2017, 2:27pm
Low-cost opportunities continue to draw operator interest in 2017, according to an exploration survey released by Wood Mackenzie Ltd. Of the 200 senior industry professionals responding to the survey, 60% rated conventional reserves as a primary resource capture option.
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Barossa field appraisal bodes well for Darwin LNG plant supply
28 June 2017, 2:52pm
A ConocoPhillips-led joint venture reported a successful appraisal well in Barossa natural gas field in Bonaparte basin retention lease NT/RL5 in the eastern Timor Sea 300 km north of Darwin. The results enhance the field’s prospects as the best source to supply back-fill gas to the combine’s Darwin LNG plant that is currently supplied by Bayu-Undan field in the Timor Gap.
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Quarterly lease sales attract over $8 million in bids, BLM reports
27 June 2017, 4:39pm
Quarterly oil and gas lease sales in eight regions netted $8,157,900 in bonus bids for 175 parcels covering 128,483 acres, the US Bureau of Land Management reported. The agency’s New Mexico office had the largest single total with nearly $3.5 million for parcels in Texas and Oklahoma, it said.
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Eni lets subsea contract for Coral South FLNG off Mozambique
27 June 2017, 4:06pm
Eni East Africa SPA has let a contract to GE Oil & Gas for the supply of subsea production systems, ancillary equipment, and services for the Coral South floating LNG (FLNG) project in Area 4 offshore Mozambique. The agreement also covers future potential upstream projects on Area 4.
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France to halt exploration licensing
26 June 2017, 5:29pm
France will halt oil and gas exploration licensing, according to Nicolas Hulot, minister for the ecological and intrusive transition under the new government of Prime Minister Edouard Philippe.
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Mexico awards 10 of 15 shallow-water blocks in latest bid round
26 June 2017, 5:00am
Mexico’s Round 2.1, held June 19, included shallow-water blocks in the Tampico-Misantla, Veracruz, and Southeast basin areas along the country’s Gulf Coast.
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Gazprom Neft starts exploratory drilling on Ayashsky block
23 June 2017, 4:30pm
Gazprom Neft PJSC reported the start of exploratory drilling on the Ayashsky block in the Sea of Okhotsk by Japan Drilling Co. Ltd.’s Hakuryu-5 semisubmersible drilling rig.
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Eni, KMG sign Kazakhstan exploration agreements
23 June 2017, 4:10pm
Eni SPA and JSC KazMunayGas (KMG) have agreed to renew Eni’s 50% share of subsoil use rights for exploration and production on Isatay block in the Caspian Sea. The initial agreement was signed 3 years ago.
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Newly formed Tanami takes Tap Oil stake in Amulet field
23 June 2017, 3:25pm
Newly formed private Perth company Tanami Energy Pty. Ltd. has emerged as the buyer of fellow Perth company Tap Oil Ltd.’s 20% interest in the undeveloped Amulet oil discovery in Carnarvon basin licence WA-8-L offshore Western Australia.
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FAR, Woodside Senegal dispute taken to arbitration
21 June 2017, 4:15pm
Perth company FAR Ltd. has moved to arbitration to resolve the current joint operating agreement dispute regarding the company’s right to pre-empt the sale of ConocoPhillips’ interest in three blocks, including one containing the recent SNE oil discovery offshore Senegal.
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Statoil gets okay for Njord, Bauge developments
20 June 2017, 9:54pm
Statoil ASA has received government approval for its plans for development and operation for Njord field and the nearby Bauge discovery in the Norwegian Sea.
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Energean submits development plan for Karish, Tanin off Israel
20 June 2017, 8:38pm
Energean Oil & Gas SA subsidiary Energean Israel expects the start of gas production from the Karish main development in 2020 after an estimated capital expenditure of $1.3-1.5 billion.
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Mexico awards 10 of 15 shallow-water blocks in latest bid round
20 June 2017, 5:52pm
Mexico’s Round 2.1, held June 19, included shallow-water blocks in the Tampico-Misantla, Veracruz, and Southeast basin areas along the country’s Gulf Coast.
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OGA offers data for mature-area licensing
20 June 2017, 5:22pm
The UK Oil and Gas Authority (OGA) has announced measures to make data openly available and boost interest in the 30th Offshore Licensing Round, which it has not yet launched.
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Europa advances seismic on Irish licenses
20 June 2017, 4:52pm
Europa Oil & Gas (Holdings) PLC will advance seismic work for three licenses in the South Porcupine basin offshore Ireland after receiving approval to adjust the terms.
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Australian government to study southern offshore basins
20 June 2017, 4:15pm
The Australian government has announced a study of Southern Australian offshore basins as part of a $90-million (Aus.) investment in the country’s domestic gas security and supply.
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Beach Energy completes Callawonga drilling campaign
20 June 2017, 4:00pm
The Adelaide duo of Beach Energy Ltd. and Cooper Energy Ltd. has successfully completed a five-well campaign in Callawonga oil field in PPL220 in the South Australian Cooper-Eromanga basins.
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Schlichter heads newly opened DEA office in Brazil
19 June 2017, 7:38pm
DEA Deutsche Erdoel AG has opened an office in Rio de Janeiro with Christoph Schlichter as general manager.
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NIOC adds five to ‘prequalification’ list
19 June 2017, 4:44pm
National Iranian Oil Co. has designated five more international oil and gas companies “prequalified” to bid on upstream projects under a redesigned contract.
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Rosneft cites oil discovery in eastern Arctic
19 June 2017, 3:18pm
Rosneft PJSC is citing a new oil field in the eastern Arctic after three core samples in an exploratory well in the Laptev Sea “showed high oil saturation.”
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Differences worth splitting
19 June 2017, 6:32am
Splitting differences provides a remorselessly unscientific perspective on a question important to oil and gas producers and comes with a possibly instructive or at least amusing analog in downstream-business history.
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Watching Government: When a minor move matters
19 June 2017, 5:15am
The US Bureau of Safety and Environmental Enforcement extended the deadline for offshore oil and gas operators to coordinate their operations and retain their federal leases from 180 days a full year. The June 9 final rule extends the time allowed between production, drilling, or well-reworking operations on a lease, BSEE Director Scott A. Angelle stated.
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Statoil takes over Great Australian Bight permits, program from BP
19 June 2017, 5:15am
Norway’s Statoil ASA has committed to continue the deepwater offshore exploration program in the Great Australian Bight that was vacated by BP PLC late last year.
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Strategic plans more Muskeg wells in Alberta
16 June 2017, 6:50pm
Following its success in this year’s first half, Strategic Oil & Gas Ltd. will drill and complete four additional Muskeg wells this summer. The operator also is evaluating a second prospective formation in its multizone light-oil Marlowe prospect.
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South Sudan oil ministry launches open tender for audit
16 June 2017, 4:58pm
South Sudan’s government will commission an audit of national oil production and other petroleum industry activities, the Ministry of Petroleum reported. The ministry has invited companies to bid on a public tender to perform the audit and produce a 2017 industry audit report.
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ExxonMobil makes FID on Liza development offshore Guyana
16 June 2017, 4:45pm
ExxonMobil Corp. has made a final investment decision on the first phase of development for Liza field 190 km offshore Guyana.
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BP, RIL to invest $6 billion for India deepwater gas field developments
15 June 2017, 5:22pm
BP PLC and Reliance Industries Ltd. (RIL) have agreed to expand their energy partnership in India and will move forward in developing already-discovered deepwater gas fields.
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Wildcats planned for southwest Iowa
14 June 2017, 9:43pm
Austin-based Chocolate Flats Petroleum Inc. will spud the first of two Forest City and Midcontinental Rift basin wildcats in August. The company has identified Pennsylvanian targets in the Iowa Shenendoah subbasin including Morrowan, Atokan, Desmoinesian, Missourian, and Virgilian.
Read more... (source: www.ogj.com)


Schlumberger plans reimaging program onshore Mexico
14 June 2017, 9:14pm
Schlumberger Ltd. and Seitel Inc. have formed a multiclient alliance to reimage and acquire geophysical data onshore Mexico.
Read more... (source: www.ogj.com)


Oil Search-led group continues appraisal of Muruk gas find
14 June 2017, 3:21pm
A group led by Oil Search Ltd. in the Papua New Guinea highlands has reported a successful production test of the Muruk-1ST3 appraisal well, which was drilled southwest of last year’s Muruk-1 natural gas discovery
Read more... (source: www.ogj.com)


Out of sight, not out of reach
12 June 2017, 5:50pm
Over the past 115 years, editors and contributing authors of OGJ, known as Oil Investors' Journal during its first 10 years of publication, have made careers of covering industry innovators opening previously unimaginable frontiers.
Read more... (source: www.ogj.com)


BPTT makes key gas discoveries in Columbus basin
12 June 2017, 4:52pm
BP PLC reported that it has discovered 2 tcf of natural gas with two exploration wells drilled in the Columbus basin offshore the east coast of Trinidad and Tobago.
Read more... (source: www.ogj.com)


Zinke signs secretarial order to jump-start production within NPR-A
12 June 2017, 4:02pm
US Secretary of the Interior Ryan Zinke dramatically concluded his 5-day visit to Alaska by signing a secretarial order to jump-start oil production within the National Petroleum Reserve-Alaska. The May 31 order also called for updated resource assessments along Alaska’s North Slope (ANS), including the federally managed 1002 Area on the Arctic National Wildlife Refuge’s coastal plain.
Read more... (source: www.ogj.com)



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