Total expands presence on Danish Shelf through Chevron Denmark takeover
25 September 2018, 2:48pm
Total has agreed to purchase from Chevron all the share capital of Chevron Denmark Inc. ...
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Total Buys Chevron's Interest In Danish Underground Consortium
25 September 2018, 2:10pm
French oil and gas major Total SA (NYSE: TOT) said it has agreed to take all of Chevron Corp.'s (NYSE: CVX) share capital in the Danish Underground Consortium (DUC), which will increase its stake in the project and expand its North Sea presence. The acquisition comes a day after Total announced a major gas discovery on the Glendronach prospect, located off the coast of the Shetland islands in the North Sea. "Following the completion of the Maersk Oil acquisition, this deal is a great opportunity to further expand our presence on the Danish Shelf and increase our interest in an asset operated by Total," Michael Borrell, Total's senior vice president for the North Sea and Russia, said in a statement.
Read more... (source: www.epmag.com)


Chevron, PTTEP bid for Thailand’s major offshore gas fields
25 September 2018, 2:05pm
The duo has filed bids for Bongkot and Erawan gas fields ...
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Jumbo in FSRU mooring gig offshore Brazil
25 September 2018, 1:25pm
Malaysia's Sapura has hired Dutch Jumbo to perform the transportation and installation of an FSRU Mooring System including riser and umbilical, off the coast of Aracaju, Sergipe, Brazil. ...
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Lundin Petroleum Says Arctic Oil Test Points To Bigger Reservoir
25 September 2018, 1:09pm
Swedish oil firm Lundin Petroleum expects to increase its resource estimate for the Alta discovery in Norway’s Arctic region following a successful two-month production test, the company said Sept. 25. Finding significant oil reserves in the Norwegian Arctic has been challenging for oil firms, but Alta is among the exceptions along with Eni’s Goliat field and Equinor’s Johan Castberg discovery.
Read more... (source: www.epmag.com)


Ashtead wraps up subsea monitoring project on Utgard
25 September 2018, 1:00pm
Ashtead has completed a subsea installation monitoring project for Subsea 7 in support of Equinor’s Utgard development. ...
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Chevron, PTTEP To Face Off In Thai Petroleum Auction
25 September 2018, 12:58pm
Chevron Corp. (NYSE: CVX) and Thailand’s PTT Exploration and Production Pcl (PTTEP) will compete in the auction of Bongkot and Erawan petroleum concessions in the Gulf of Thailand after bids were submitted on Sept. 25, with France’s Total SA (NYSE: TOT) sitting it out, the government said in a statement.
Read more... (source: www.epmag.com)


Hess COO Says No Plans To Sell Remaining Asian Assets
25 September 2018, 12:45pm
U.S. oil producer Hess Corp. (NYSE: HES) has no intention to sell its assets in Asia as the region provides good, steady cash flow and a stable political environment, a senior company executive told Reuters on Sept. 25. While the company sold assets in Thailand and Indonesia a few years ago as it saw little growth in those two countries, Southeast Asia still plays a key role in its portfolio, said Greg Hill, president and COO of Hess. "We have 20 years of investment opportunities that have provided good stable cash flow for us," said Hill on the sidelines of the Asia Pacific Petroleum Conference (APPEC) in Singapore.
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W&T Offshore’s Gulf of Mexico well ‘exceeds pre-drill estimates’
25 September 2018, 12:16pm
W&T Offshore has drilled an exploration well from the South Timbalier 311 platform in the Gulf of Mexico that is part of the Ewing Bank 910 field. ...
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Russian Oil Production Expected To Grow But At Slow Pace
25 September 2018, 12:00pm
Despite diversification efforts, the oil and gas industry continues to play a key role in the Russian economy. Oil, gas and minerals account for more than two-thirds of Russia’s exports. The tax structure is a major tool that shapes the Russian oil sector. In the past, high export taxes for crude oil were designed to force domestic processing and the export of higher-value finished products. Contrary to widespread belief and in line with Stratas Advisors’ projections for the past seven years, Russian oil production continues to grow and surpass post-Soviet era records. In 2014, Russian crude oil and condensate production averaged 10.58 million barrels per day (MMbbl/d), which was 1.1% above 2013 levels and 2.1% above 2012 levels (excluding NGL).
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Halliburton, Exceed get service contracts for Aker Energy’s Ghana campaign
25 September 2018, 7:59am
Aker Energy has awarded contracts for its appraisal well offshore Ghana to Maersk Drilling, PMD Viking Ghana Limited, Halliburton Ghana and Exceed Well Management.  ...
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End of the line for Jasper Explorer drillship
25 September 2018, 7:47am
Offshore rig broker Bassoe Offshore has informed that the Jasper Explorer drillship has been sold for scrap. ...
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Aker Energy hires Maersk drillship for Ghana well
25 September 2018, 7:38am
Maersk Drilling has signed a contract with Aker Energy for Maersk Viking, an ultra-deepwater drillship, to drill the Pecan-4A appraisal well offshore Ghana. ...
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Lundin: Results from Alta appraisal well ‘better than expected’
25 September 2018, 6:46am
Lundin Norway has completed the Alta appraisal well 7220/11-5 and extended production test in PL609 in the southern Barents Sea. The results were better than expected.  The appraisal well is located... ...
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Petrobras output in August drops due to maintenance
25 September 2018, 6:44am
Petrobras has reported that its total production of oil and gas, including NGL, in August 2018 was 2.47 million boed, a decrease when compared to July. ...
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Fugro CEO to resign for personal reasons. Replacement named
25 September 2018, 6:42am
Fugro has decided to appoint a new CEO and chairman of the board of management. ...
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Thames Pipeline fit for IOG gas. FID in 4Q
25 September 2018, 6:22am
Thames Pipeline fit for IOG gas. FID in 4Q ...
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BW Group chief executive calls it quits
25 September 2018, 5:44am
Chief executive officer (CEO) of global maritime group BW has decided to resign from his position for personal reasons. ...
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Glendronach Discovery Big News for UK
25 September 2018, 12:00am
The Glendronach discovery is big news for the UK as a whole, according to Wood Mackenzie.
Read more... (source: www.rigzone.com)


Shareholders Approve MPC and Andeavor Merger
25 September 2018, 12:00am
Shareholders of both Marathon Petroleum Corp (MPC) and Andeavor have voted to approve the strategic combination of the 2 companies, MPC reveals.
Read more... (source: www.rigzone.com)


Iranian Oil Tankers Disappearing from Tracking Systems
25 September 2018, 12:00am
No signals have been received by shore stations or satellites from 10 of Iran's crude oil supertankers for at least a week, according to tanker tracking data compiled by Bloomberg.
Read more... (source: www.rigzone.com)


OGCI Sets First Collective Methane Target
25 September 2018, 12:00am
The Oil and Gas Climate Initiative has set its first collective methane target for member companies.
Read more... (source: www.rigzone.com)


Norway Central Banker Worries About $100 Oil
25 September 2018, 12:00am
Talk of a return to $100 oil has the central bank chief of western Europe's largest petroleum producer worried.
Read more... (source: www.rigzone.com)


Oil Advances as Traders Turn Bullish
25 September 2018, 12:00am
Oil extends gains near the highest level in almost 4 years.
Read more... (source: www.rigzone.com)


Total updates Shwe Yee Htun-2 gas appraisal offshore Myanmar
24 September 2018, 5:32pm
Total SA reported encouraging preliminary test results from the Shwe Yee Htun-2 natural gas discovery on A6 Block offshore Myanmar. An appraisal well, drilled to 4,820 m TD, encountered 40 m of net pay in a high-quality reservoir that Total executives believe offers production deliverability.
Read more... (source: www.ogj.com)


Valeura plans Yamalik appraisal in Turkey
24 September 2018, 5:07pm
Valeura Energy Inc., Calgary, soon will spud Inanli-1, the first of three appraisal wells planned for its Yamalik-1 discovery in Northwest Turkey, newly recompleted for the start of a long-term production test.
Read more... (source: www.ogj.com)


Tullow reports Cormorant-1 well off Namibia comes up dry
24 September 2018, 4:58pm
Tullow Oil PLC group’s much-touted offshore Namibian wildcat, Cormorant-1, has been plugged and abandoned as a dry hole in the Walvis basin about 420 km south of the Angola-Namibia border. Joint venture partner Pancontinental Oil & Gas NL, Perth, said the well in permit PEL 37 reached a total measured depth of 3,855 m materially quicker than prognosed.
Read more... (source: www.ogj.com)


Smart Charging Boosts Role Of Electric Vehicles In Balancing Evolving Power Grid
24 September 2018, 4:40pm
The smart grid evolution has unleashed opportunities for electric vehicles (EVs) thanks to technologies that allow EVs to feed power back into the grid. Utilities and grid regulators are eyeing plug-ins as a flexible resource class helping address the intermittency of renewables and reduce peak power demand.
Read more... (source: www.epmag.com)


Turkish Petroleum lets contract for rig in Mediterranean Sea
24 September 2018, 4:34pm
Turkish Petroleum has let a two-well contract to Rowan Cos. PLC for its Rowan Norway, an N-Class ultra-harsh environment jack up rig, for use in the Mediterranean Sea.
Read more... (source: www.ogj.com)


Total makes gas discovery offshore UK
24 September 2018, 4:17pm
Total SA made a natural gas discovery on the Glendronach prospect offshore UK West of Shetland that it believes can be commercialized quickly and at low cost by leveraging the existing Laggan-Tormore infrastructure.
Read more... (source: www.ogj.com)


Oil Executives Discuss Onshore Technology Challenges, Opportunities
24 September 2018, 3:30pm
HOUSTON—Technologies have transformed operations onshore for oil and gas operators, but the industry continues to face challenges as it strives to keep costs down and make money. Executives spoke about the importance of technology and existing needs recently during Rice University’s annual Energy & Clean Technology Venture Forum, which featured entrepreneurs looking to connect their new products and services with investors and others searching for solutions. With the spotlight on challenges, those gathered for panel sessions learned of areas in need of attention. Among the most notable onshore are low recovery rates from U.S. shale plays. “We’re up to about maybe 25% recovery of original gas in place. But liquids, we’re running at about 5% to 8% recovery of original oil in place,” George E. King, an independent consultant with 47 years of oilfield experience. “And what we’re producing at the surface is not representative of what’s in the rock downhole. We’ve got a lot of ground to make up. The reason why big data has not solved that is because we didn’t understand the process of flow. Let’s spend some money; do some research.”
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MARKET WATCH: NYMEX oil price drops on slightly lower US rig count
24 September 2018, 2:53pm
The light, sweet crude oil prices for November rose modestly Sept. 21, settling above $70/bbl on the New York market for a third consecutive day before a weekend meeting of the Joint Ministerial Monitoring Committee (JMMC), representing nations coordinating oil supply.
Read more... (source: www.ogj.com)


Saudi Aramco Trading Aims For 50% Rise In Oil Trade Volume In 2020
24 September 2018, 2:13pm
Saudi's Aramco Trading Company (ATC) expects to increase its oil trading volume to 6 million barrels per day (MMbbl/d) in 2020, 50% higher than current levels, the company's top official said on Sept. 24. "Currently ... we're at 4 million barrels per day and with expansion I think our target is 6 million barrels per day," President and Chief Executive Ibrahim Al-Buainain said at the Asia Pacific Petroleum Conference (APPEC).
Read more... (source: www.epmag.com)


OGCI members move to tackle methane emissions
24 September 2018, 2:03pm
Following last week's news that three U.S. oil companies would join the Oil and Gas Climate Initiative, OGCI on Monday announced a target to reduce by 2025 the collective average methane intensity of... ...
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Shale’s Radically Changing Workforce
24 September 2018, 2:00pm
If shale operators are to maintain their competitive advantage in a changing policy, technology and price environment, they will need a more skilled and flexible workforce. The shifts in shale production growth over the course of the post-2014 oil price “swoon” and subsequent recovery have demonstrated that operators can respond quickly to price alterations. Companies have relied on remote drilling and other digitally enabled technologies to increase worker productivity. As they plan for a future where costs will need to be kept lower for longer, shale companies will increasingly turn to technological solutions to achieve this, while keeping productivity high. Digitalization also will allow companies to maintain headcount numbers below the level seen during the oil price peak even as the industry recovers. In a bid to become leaner, many shale operators shed employees in noncore areas and squeezed asset teams during the price downturn. However, the workers they employ in the future will need to be techsavvy and open to new ways of working.
Read more... (source: www.epmag.com)


United Energy To Buy Kuwait Energy For $651 Million
24 September 2018, 1:54pm
United Energy Group said on Sept. 24 it would buy Kuwait Energy for up to $651 million as the Hong Kong-listed upstream oil and gas company aims to enter the Middle East and North Africa markets. The deal will transform United Energy into a medium-sized international independent oil and gas company with a diversified portfolio of assets, while further expanding its development potential, it said in a filing to the Hong Kong stock exchange.
Read more... (source: www.epmag.com)


Oil Major Total Makes Major Offshore UK Gas Discovery
24 September 2018, 1:47pm
French oil and energy group Total (NYSE: TOT) said on Sept. 24 it had made a major gas discovery on the Glendronach prospect, located off the coast of the Shetland Islands in the North Sea. Total said preliminary tests on the new gas discovery confirmed good reservoir quality, permeability and well production deliverability, with recoverable resources estimated at about one trillion cubic feet.
Read more... (source: www.epmag.com)


Tullow Oil Abandons First Namibian Well, Keeps Options Open
24 September 2018, 1:44pm
Africa-focused Tullow Oil will abandon its first well in Namibia, but data gathered in the project indicated it might strike lucky in another attempt, the company said Sept. 24. “The Cormorant-1 exploration well in the PEL-37 license, offshore Namibia, encountered non-commercial hydrocarbons and the well is being plugged and abandoned,” Tullow said in a statement. Tullow holds 35% in the PEL-37 license as operator, alongside ONGC Videsh (30%), Pancontinental Oil & Gas (30%) and Paragon.
Read more... (source: www.epmag.com)


OKEA’s private placement attracts ‘strong interest’
24 September 2018, 1:40pm
Norwegian oil operator OKEA has raised NOK 110 million ($13,5 million) through a private placement of 475,000 new shares at a subscription price of NOK 231.46 per share. ...
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Big Oil Pledges To Slash Potent Greenhouse Gas Emissions
24 September 2018, 1:36pm
A group of the world’s top oil and gas companies pledged on Sept. 24 to slash emissions of a potent greenhouse gas by a fifth by 2025 in an effort to battle climate change. The Oil and Gas Climate Initiative (OGCI), which U.S. giants Exxon Mobil Corp. and Chevron joined recently, committed to cutting methane emissions to an intensity of 0.25% of the group’s total fossil fuel production, it said in a statement. Such a reduction would equate to 350,000 tonnes of methane annually. It compares with a baseline intensity of 0.32% in 2017, excluding new members. The pledge, which could be lowered to 0.20% intensity, echoes targets set individually by members BP, Royal Dutch Shell and Exxon to reduce methane emissions.
Read more... (source: www.epmag.com)


Iran Says Oil To Rise As Saudi, Russia Do 'Little and Late'
24 September 2018, 1:35pm
Saudi Arabia and Russia won’t add significantly more oil to the market because of a lack of capacity, a top Iranian official said on Sept. 24, predicting prices will probably rise further.
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Crude oil was the largest U.S. petroleum export in the first half of 2018
24 September 2018, 1:00pm
Crude oil surpassed hydrocarbon gas liquids (HGL) to become the largest U.S. petroleum export, with 1.8 million barrels per day (b/d) of exports in the first half of 2018. U.S. crude oil exports increased by 787,000 b/d, or almost 80%, from the first half of 2017 to the first half of 2018 and set a new monthly record of 2.2 million b/d in June. Much of this crude oil went to destinations in Asia and Oceania such as China, South Korea, and India. Europe was the second-largest market for U.S. crude oil exports, led by Italy, the United Kingdom, and the Netherlands. Canada was the only major U.S. crude oil export destination where exports decreased, down slightly in the first half of 2018 compared with the same period in 2017.
Read more... (source: www.eia.gov)


Turkish Petroleum takes Rowan rig for two-well gig
24 September 2018, 11:41am
Rowan Companies has been awarded a two-well contract for its Rowan Norway jack-up rig in the Mediterranean Sea by Turkish Petroleum.  ...
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Sapura Energy lands over $197 million in new contracts
24 September 2018, 11:31am
Malaysia's Sapura Energy has secured three new contracts and a contract extension valued at approximately RM815 million. ...
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Most interesting deal of the year award? Noble scores big in newbuild jackup acquisition
24 September 2018, 9:24am
Someone other than Borr has finally acquired a newbuild jackup. And other established rig owners are likely to follow. ...
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Equinor in another ‘Safe Boreas’ extension at Mariner field
24 September 2018, 9:06am
Norwegian oil firm Equinor has extended the contract with Prosafe for the use of the Safe Boreas offshore accommodation rig in the UK North Sea. Equinor is using the rig to support its Mariner... ...
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Wintershall marks quarter century of production on Brage
24 September 2018, 8:55am
The Wintershall-operated Brage offshore platform is celebrating its 25th anniversary of oil production. ...
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Karoon, Tullow to spud first well in Z-38 block off Peru in 2020
24 September 2018, 8:48am
Australian oil and gas explorer Karoon has lifted force majeure from its Block Z-38 offshore Peru, and is looking to drilling the first well at the block in early 2020. ...
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OPEC: No output boost pledge despite Trump calling for it
24 September 2018, 7:28am
Oil output increase was not discussed at Sunday’s joint OPEC-Non-OPEC ministerial monitoring committee, despite U.S. President Donald Trump calling for OPEC to lower oil prices via Twitter. ...
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Woodside in new gas discovery at A-6 block offshore Myanmar
24 September 2018, 6:52am
Australia's Woodside has made a new gas discovery at the A-6 block in the Southern Rakhine Basin offshore Myanmar. ...
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Total makes large gas discovery offshore UK
24 September 2018, 6:29am
French oil major Total has made "a significant gas discovery" on the Glendronach prospect offshore UK. ...
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Dry hole for Tullow off Namibia
24 September 2018, 6:15am
Tullow Oil has encountered non-commercial hydrocarbons at its Cormorant-1 exploration well in the PEL-37 licence, offshore Namibia and the well is being plugged and abandoned. ...
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Petrolis wins contract for Kaombo Sul FPSO hook-up and mooring
24 September 2018, 6:09am
Petrolis has won a contract from Saipem for hook-up and mooring activities on Total's FPSO Kaombo Sul to be located on Block 32 off Angola. ...
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Archer names chairman and adds new board member
24 September 2018, 5:55am
Oilfield services company Archer has elected a new chairman of the company as well as a new board member. ...
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Hart Energy Unconventional Activity Tracker
24 September 2018, 5:00am
Hart Energy's exclusive rig counts measure drilling intensity. Our counts exclude units classified as rigging up or rigging down, and also exclude rigs drilling injection wells, disposal wells or geothermal wells. The result is our most accurate assessment of rigs on location working on oil or gas programs as of the sample date. While our process results in a rig tally that is lower than the published numbers from the non-proprietary rig-tracking agencies, Hart Energy believes our product presents the most accurate picture of what is actually occurring in the field.
Read more... (source: www.epmag.com)


Return of $100 Oil Seen by Top Traders
24 September 2018, 12:00am
Major oil trading houses are predicting the return of $100 crude for the first time since 2014.
Read more... (source: www.rigzone.com)


Strike Action Ballot Confirmed by UK Union
24 September 2018, 12:00am
UK union Unite confirms that its members covered by the Offshore Contractors Association agreement are to be balloted on industrial action.
Read more... (source: www.rigzone.com)


Asia's Oil Market Torrid Amid Iran Sanctions and Mega-Refineries
24 September 2018, 12:00am
"Refiners will have to buy whatever crude they can get their hands on," said Amrita Sen, chief oil analyst at consultant Energy Aspects Ltd.
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Deepwater's Happy Days Almost Here Again
24 September 2018, 12:00am
Deep-sea oil drillers are once again riding the wave of investor enthusiasm that next year will be better for profits.
Read more... (source: www.rigzone.com)


WTI, Brent Gain at Cusp of Tight Market
24 September 2018, 12:00am
"The market is starting to realize that strong global demand and the lack of spare production capacity is going to lead to one of the tightest markets we've seen in a long time," said one analyst.
Read more... (source: www.rigzone.com)


Golden Years Over for Oil Traders
24 September 2018, 12:00am
It's a stark reversal from the long period of big returns that was ushered in by oil's crash in 2014.
Read more... (source: www.rigzone.com)


Shell Exec Says Canada Pipeline Debacle Won't Affect LNG Decision
24 September 2018, 12:00am
Shell-led LNG Canada proposes to export as much as 26 million tons per year to Asia.
Read more... (source: www.rigzone.com)


Lower for Longer's Days May Be Numbered
24 September 2018, 12:00am
The commitment to live with "lower for longer" oil might not last that long after all.
Read more... (source: www.rigzone.com)


Byron Energy Expands Footprint in Gulf of Mexico
24 September 2018, 12:00am
The company has been notified by the BOEM that its bids for three GoM blocks were accepted.
Read more... (source: www.rigzone.com)


OPEC Gives Tepid Response to Trump Demand
24 September 2018, 12:00am
Brent crude climbed above $80 a barrel to its highest level since November 2014 after OPEC and its allies signaled less urgency to boost output, despite U.S. pressure to temper prices.
Read more... (source: www.rigzone.com)


Uganda Expects to Miss Target for First Oil
24 September 2018, 12:00am
Uganda said it expects to miss its 2020 target for the East African nation's first crude production.
Read more... (source: www.rigzone.com)


Offshore Namibia Dud Dims Outlook for New Play
24 September 2018, 12:00am
Tullow Oil Plc said an exploration well off Namibia was a dud, damping enthusiasm over a frontier area that's attracted renewed interest amid oil's recovery.
Read more... (source: www.rigzone.com)


$11 Trillion Needed in Oil Sector to 2040
24 September 2018, 12:00am
In the period to 2040, the required global oil sector investment is estimated at $11 trillion.
Read more... (source: www.rigzone.com)


Major Gas Find Offshore UK for Total
24 September 2018, 12:00am
Total has made a 'major' gas discovery on the Glendronach prospect offshore UK in the West of Shetland region.
Read more... (source: www.rigzone.com)


Popular news, September 17 – 23, 2018
23 September 2018, 6:56pm
Offshore Energy Today’s most popular news of the past week ...
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U.S. weekly offshore rig count unchanged
23 September 2018, 6:45pm
The number of U.S. offshore rigs remained flat at 20 active units this past week, according to weekly rig count reports released on Friday by Baker Hughes, a GE company.  ...
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API: US petroleum net imports increased strongly on falling exports
21 September 2018, 5:50pm
The US has reached a new record for crude oil production of 10.8 million b/d over the past 2 months, but petroleum exports decreased by 1.3 million b/d since June, according to a recent industry outlook for the third quarter from the American Petroleum Institute. The nation’s overall petroleum trade balance went from net imports of 2.9 million b/d in June to 4.54 million b/d in August.
Read more... (source: www.ogj.com)


Baker Hughes: US rig count drops 2 units to 1,053
21 September 2018, 5:39pm
The US drilling rig count is down 2 units to 1,053 rigs working for the week ended Sept. 21, according to Baker Hughes data. The count is up 118 units from the 935 rigs working this time a year ago. The 2 rigs dropped were from those drilling on land. A total of 1,028 rigs were drilling on land for the week. Offshore units and those drilling in inland waters remained unchanged with 20 and 5 units working, respectively.
Read more... (source: www.ogj.com)


Pemex, Talos sign preunitization pact
21 September 2018, 5:30pm
Petroleos Mexicanos (Pemex) and a Talos Energy group have signed a preunitization agreement allowing the sharing of information about contiguous shallow-water areas offshore Mexico. One of the blocks, the Talos group’s Block 7 production-sharing contract area, contains the 2017 Zama oil discovery, where the group earlier this year reported plans for an appraisal well.
Read more... (source: www.ogj.com)


Equinor lets contract for semi drilling rig in NCS
21 September 2018, 3:13pm
Equinor ASA has let a six-well contract to Transocean Ltd. for its Transocean Norge newbuild harsh-environment semisubmersible drilling rig for use in the Norwegian Continental Shelf.
Read more... (source: www.ogj.com)


MARKET WATCH: NYMEX oil prices drop but hold above $70/bbl
21 September 2018, 2:55pm
The light, sweet crude oil prices for October and November declined modestly yet each settled above $70/bbl on the New York market Sept. 20 while Brent crude oil prices for November and December also fell but each settled above $78/bbl in London.
Read more... (source: www.ogj.com)


Transocean bags 300-day deal for newbuild rig with Equinor
21 September 2018, 1:50pm
Offshore driller Transocean has scored a six-well contract with Equinor for the newbuild, harsh environment semisubmersible Transocean Norge. ...
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Seasonality in Brazilian petroleum liquids production is driven by biofuels
21 September 2018, 1:00pm
Brazil’s ethanol output is seasonal and typically peaks during the fourth quarter (October–December) of each year. The peak coincides with the harvest of sugarcane, the primary feedstock used in Brazil's ethanol production. This seasonal fuel ethanol production can lead to significant monthly variations in Brazil’s total petroleum and other liquids production.
Read more... (source: www.eia.gov)


Petro Matad updates Mongolia exploration
20 September 2018, 8:19pm
Petro Matad Ltd. said it drilled the Snow Leopard exploration well to 2,930 m MD in the Valley of the Lakes basin complex of central Mongolia. The well reached granitic basement on Block V. The Snow Leopard well now will be plugged and abandoned pending evaluation.
Read more... (source: www.ogj.com)


US House Democrats express NPR-A oil development concerns to BLM
20 September 2018, 8:13pm
US Rep. Raul M. Grijalva (D-Ariz.), the House Natural Resources Committee’s ranking minority member, and the top Democrats on two of the committee’s subcommittees urged the US Bureau of Land Management to maintain critical wildlife and caribou habitat protections near Teshekpuk Lake on Alaska’s North Slope.
Read more... (source: www.ogj.com)


Cuadrilla’s second UK frac job approved
20 September 2018, 5:52pm
Privately owned Cuadrilla is preparing to hydraulically fracture the two horizontal wells it has drilled on its Preston New Road site in Lancashire, UK, after receiving government approval for the second completion. It received approval to frac the first well in July.
Read more... (source: www.ogj.com)


Novatek hikes Utrenneye reserves estimate
20 September 2018, 5:18pm
Novatek has discovered two new hydrocarbon deposits and confirmed commercial viability of Middle Jurassic deposits in Utrenneye gas and condensate field with its No. 294 well on the Gydan Peninsula of northern Siberia. The field supports the proposed 19.8-million tonne/year Arctic LNG 2 project nearby on the Gulf of Ob.
Read more... (source: www.ogj.com)


US Coast Guard withdraws 1999 offshore oil and gas proposed rule
20 September 2018, 5:14pm
The US Coast Guard withdrew a 1999 proposed rule covering oil and gas activities on the US Outer Continental Shelf. The passage of time, advances in technology, and changes in industry practices have rendered the proposed rule covering workplace safety on vessels obsolete, it said in a Sept. 19 Federal Register notice.
Read more... (source: www.ogj.com)


MARKET WATCH: NYMEX oil prices jump more than $1/bbl on lower crude inventory
20 September 2018, 2:37pm
The light, sweet crude oil prices for October and November each jumped by more than $1/bbl on the New York market Sept. 19 with the October contract settling above $71/bbl, which analysts attributed to lower-than-expected US crude oil supplies.
Read more... (source: www.ogj.com)


East Coast refiners receiving more domestic crude oil from Gulf Coast by tanker and barge
20 September 2018, 1:00pm
Since mid-2017, the East Coast has been receiving as much crude oil by tanker and barge from the Gulf Coast as it has by rail from the Midwest. In April, the volume of crude oil transported by tanker and barge from the Gulf Coast to the East Coast reached the highest level since mid-2014. At the same time, crude oil shipped to the East Coast by rail from the Midwest has fallen 77% from its peak in late 2014. These changes in crude oil shipments, as well as the mix between foreign and domestic crude oil inputs to East Coast refineries, have followed price movements in crude oil markets.
Read more... (source: www.eia.gov)


BLM issues final oil, gas waste prevention rule with reforms
19 September 2018, 5:24pm
The US Bureau of Land Management issued a final waste prevention, or venting and flaring, rule for oil and gas operations on land that it oversees. “Sadly, the flawed 2016 rule was a radical assertion of legal authority that stood in stark contrast to the longstanding understanding of Interior’s own lawyers,” Deputy Interior Sec. David Bernhardt said on Sept 18.
Read more... (source: www.ogj.com)


Elixir Petroleum set to move on Mongolian CBM project
19 September 2018, 5:10pm
Elixir Petroleum Ltd., Perth, has signed a production-sharing contract for the Nomgon IX coalbed methane project in the Gobi Desert of southern Mongolia. The PSC was signed by Golden Horde Ltd., a private company in South Australia established in 2011 with the sole purpose of building a CBM project in Mongolia.
Read more... (source: www.ogj.com)


One in three U.S. households faces a challenge in meeting energy needs
19 September 2018, 1:00pm
Nearly one-third of U.S. households (31%) reported facing a challenge in paying energy bills or sustaining adequate heating and cooling in their homes in 2015. According to the most recent results from EIA’s Residential Energy Consumption Survey (RECS), about one in five households reported reducing or forgoing necessities such as food and medicine to pay an energy bill, and 14% reported receiving a disconnection notice for energy service. Households may also use less energy than they would prefer; 11% of households surveyed reported keeping their home at an unhealthy or unsafe temperature.
Read more... (source: www.eia.gov)


New technology planned for Alpha oil shale project
18 September 2018, 5:24pm
Greenvale Energy Ltd., Sydney, has appointed consulting firm SRK Consulting (Australasia) Pty. Ltd. to progress development of the Alpha oil shale project in central Queensland inland from Rockhampton using a radio frequency (RF) microwave extraction technique.
Read more... (source: www.ogj.com)


BNK Petroleum completes drilling Brock 4-2H well in Tishomingo field
18 September 2018, 4:59pm
BNK Petroleum Inc., Camarillo, Calif., said it encountered hydrocarbon shows comparable to the company’s best wells while drilling the Brock 4-2H well in the Caney shale oil acreage in Tishomingo field in the SCOOP region in Oklahoma. The BNK-operated well (77% working interest) was drilled and cased and is awaiting completion.
Read more... (source: www.ogj.com)


Goodrich updates Haynesville operations
18 September 2018, 4:36pm
Goodrich Petroleum Corp., Houston, has provided updates on its Haynesville shale wells. The Harris-Dickson 14&23 No. 1 well in Thorn Lake field in Red River Parish, La., achieved a 24-hr peak rate of 27.5 MMcfd of gas from 6,100 ft of lateral. Goodrich also has drilled and cased the Loftus 27&22 No. 1 well.
Read more... (source: www.ogj.com)


Saturn plans 20 wells in Saskatchewan
18 September 2018, 4:04pm
Saturn Oil & Gas Inc., Saskatoon, Sask., has drilled and cased the first of 20 horizontal wells in a program extending through first-quarter 2019 in low-risk plays in Saskatchewan. It will drill 17 wells targeting light oil in the Cretaceous Viking formation in properties named Kerrobert, Prairiedale, Milton, and Plato.
Read more... (source: www.ogj.com)


Aramco lets Berri drilling-island contract
18 September 2018, 4:00pm
Saudi Aramco has let a contract to China Harbour Engineering Arabia for construction of two drilling islands in its expansion of Berri oil field. The expansion will double Berri production capacity to 500,000 b/d of Arabian Light crude. It includes installation of a gas oil separation plant on Abu Ali Island and 40,000 b/d of additional condensate-processing capacity at the Khursaniyah Gas Plant.
Read more... (source: www.ogj.com)


CGG acquiring multiclient survey in UK West Shetland basin
18 September 2018, 3:54pm
CGG of Paris started acquisition of a high-density, rich-azimuth, towed-streamer multiclient survey in the UK West Shetland basin covering 3,600 sq km. The Oceanic Vega and the Geo Caribbean are being deployed.
Read more... (source: www.ogj.com)


MARKET WATCH: NYMEX, Brent oil prices fall slightly pending full US sanctions on Iran
18 September 2018, 2:43pm
Light, sweet crude oil prices for November delivery fell by less than a dime on the London market Sept. 17 to hold above $68/bbl while Brent crude oil prices on the London market also fell slightly, settling above $78/bbl.
Read more... (source: www.ogj.com)


Summer average wholesale electricity prices in western U.S. were highest since 2008
18 September 2018, 1:00pm
As a result of record-high temperatures and fuel supply constraints this summer, wholesale electricity prices in the western United States reached their highest levels since 2008. In the area served by the California Independent System Operator (CAISO), peak-period electricity prices in July averaged $101 per megawatthour (MWh), the highest monthly average since the current day-ahead market began trading in April 2009. Peak-period electricity prices at the Palo Verde trading hub in Arizona and at the Mid-Columbia hub in the Pacific Northwest averaged $89/MWh and $72/MWh, respectively, in July. Prices in each area also remained relatively high through August
Read more... (source: www.eia.gov)


Watching Government: Gov. Brown signals opposition
17 September 2018, 10:23pm
California Gov. Jerry Brown (D) left little doubt about where he stood on Sept. 8 when he signed two bills blocking new federal leasing off the state’s coast and announced its opposition to the federal government’s plan to expand oil and gas drilling on federal lands in California.
Read more... (source: www.ogj.com)


LLOG Exploration brings deepwater gulf wells online
17 September 2018, 9:38pm
LLOG Exploration Co. LLC, Covington, La., has brought online several wells in the deepwater Gulf of Mexico and will move forward with additional development projects.
Read more... (source: www.ogj.com)


International tribunal rules for Chevron in ongoing Ecuador case
17 September 2018, 9:03pm
An international tribunal administered by the Permanent Court of Arbitration in The Hague found that a $9.5-billion judgment that Ecuador’s government lodged against Chevron Corp. in 2011 violated international treaties, investment agreements, and international law.
Read more... (source: www.ogj.com)


WoodMac: Permian producers hedge bets against pipeline delays
17 September 2018, 6:47pm
Due to concerns that key pipeline projects may fail to start up by their 2019 target dates, Permian producers increased their 2020 oil-basis hedge positions by 431% in this year’s second quarter, according to Wood Mackenzie’s latest analysis of oil and gas hedging activity.
Read more... (source: www.ogj.com)


Elections have consequences
17 September 2018, 6:37pm
With Labor Day weekend already a weeks-old memory, the US Nov. 6 midterm elections are fast approaching. Early voting in Texas starts in just 5 weeks, Oct. 22.
Read more... (source: www.ogj.com)


CNRL completes Laricina Energy acquisition
17 September 2018, 5:30pm
Canadian Natural Resources Ltd. has completed its offer to acquire Laricina Energy Ltd., reporting acceptance by holders of 98.7% Laricina’s issued and outstanding shares. Both companies are based in Calgary. The buyer expected to pay $46.35 million (Can.) for the shares by Sept. 18.
Read more... (source: www.ogj.com)


BW Offshore starts oil production from BW Adolo FPSO off Gabon
17 September 2018, 5:25pm
BW Offshore has started oil production from the BW Adolo floating production, storage, and offloading vessel installed in Tortue field in the Dussafu license offshore Gabon, 18 months after the initial investment was made. The BW Adolo FPSO arrived in late July and hook up of mooring systems and installation of risers and umbilicals were completed in September.
Read more... (source: www.ogj.com)


OGJ Newsletter
17 September 2018, 5:00am
International news for oil and gas professionals
Read more... (source: www.ogj.com)


Subsalt shelf well uses deepwater methods
14 September 2018, 7:32pm
GulfSlope Energy Inc., Houston, has spudded its first well in a program using deepwater drilling and completion technologies for subsalt exploration on the Gulf of Mexico shelf.
Read more... (source: www.ogj.com)


Baker Hughes: US rig count gains 7 units to reach 1,055
14 September 2018, 5:49pm
The US drilling rig count is up 7 units to 1,055 units working for the week ended Sept. 14, according to Baker Hughes data. The count is up 119 units from this time a year ago when it stood at 936. Offshore units increased by a single rig with 20 units working. A total of 1,030 rigs were drilling on land, up 4 from a week ago. The number of rigs drilling in inland waters was up 2 to 5 units working.
Read more... (source: www.ogj.com)


Study: Oil sands GHG intensities falling
14 September 2018, 4:29pm
The upstream greenhouse-gas emissions intensity of bitumen from the Canadian oil sands has fallen on average since 2009 and will continue doing so through 2030, says a study by IHS Markit. During 2009-17, the study says, emissions from upstream operations per barrel of bitumen produced fell by 21%. A further 16-23% lowering of emissions intensity is possible over the next decade.
Read more... (source: www.ogj.com)


IEA: Oil market tightens on falling Venezuelan, Iranian exports
13 September 2018, 5:27pm
The price of Brent crude oil fell close to $70/bbl in early August and is now climbing back to $80/bbl. According to the International Energy Agency’s latest Oil Market Report, two reasons for the swing are that Venezuela’s production decline continues and the market is approaching Nov. 4 when US sanctions against Iran’s oil exports are implemented.
Read more... (source: www.ogj.com)


Jericho Oklahoma STACK JV to participate in additional wells
13 September 2018, 4:46pm
Jericho Oil Corp., Vancouver, BC, along with its Oklahoma STACK joint venture partner, will participate in its second Meramec formation well and two additional Osage formation wells as part of its strategy to delineate and derisk the 16,000 net acre position.
Read more... (source: www.ogj.com)


India seeks to boost oil, gas recovery
13 September 2018, 4:38pm
India’s Union Cabinet has approved a policy framework aimed at boosting oil and gas production through enhanced and improved recovery and development of unconventional resources. The framework includes financial incentives through the partial waiver of taxation or royalties on incremental production.
Read more... (source: www.ogj.com)


MARKET WATCH: NYMEX crude pushes past $70/bbl mark
13 September 2018, 3:05pm
Prices for both light, sweet crude and Brent crude were up Sept. 12 on renewed concerns of a consumption and production imbalance. In its September Short-Term Energy Outlook, the US Energy Information Administration forecasts Brent crude prices to average $74/bbl and West Texas Intermediate prices to average more than $67/bbl in 2019. Both forecasts are $3/bbl higher than those from the August STEO.
Read more... (source: www.ogj.com)


PDO, GlassPoint partnership to open Oman solar technology center
12 September 2018, 8:45pm
Petroleum Development Oman (PDO) plans to open a technology center in Muscat in partnership with GlassPoint Solar. The joint initiative is called SolaRISE for Solar Research, Innovation, and Sustainability in Energy. It was formed to develop and test solar technologies in oil fields.
Read more... (source: www.ogj.com)


Nexen starts work on Long Lake expansion
12 September 2018, 6:02pm
Nexen Energy has started work on a 26,000-b/d expansion of its Long Lake integrated oil sands project in the Athabasca region of Alberta, 25 miles southeast of Fort McMurray. The CNOOC Ltd. subsidiary expects production from three well pads in the $400-million (Can.) Long Lake Southwest Expansion project to begin in late 2020.
Read more... (source: www.ogj.com)


Gazprom Neft, CNPC set oil-recovery study
12 September 2018, 3:03pm
Gazprom Neft and China National Petroleum Corp. will study feasibility of surfactant flooding of Sutorminskoye oil field in Russia’s Yamal-Nenets Autonomous Area as a first step under a new technical partnership. The companies agreed to develop and adopt advanced techniques for increasing oil recovery, including polymer and surfactant injection.
Read more... (source: www.ogj.com)


Ecuador opens onshore licensing round
12 September 2018, 2:53pm
Ecuador’s government has opened bidding for exploratory rights to eight onshore blocks in the Oriente basin. The blocks, offered under production-sharing terms, are labeled Charapa, Chanangue, Perico, Iguana, Sahino, Panayacu Norte, Espejo, and Araza Este. All are near established oil and gas fields in Sucumbios Province.
Read more... (source: www.ogj.com)


MARKET WATCH: NYMEX crude surpasses $69/bbl on tropical weather threats
12 September 2018, 2:39pm
Light, sweet crude oil and Brent crude oil prices jumped by more than $1.60/bbl on Sept. 11 while market participants monitored tropical weather systems headed toward the US East Coast and possibly the Gulf of Mexico. Tropical Storm Isaac could aim at Texas later this week although that system appeared to be fading as of early Sept. 12, forecasters said.
Read more... (source: www.ogj.com)


EPA proposes changes in 2016 production emissions control rules
11 September 2018, 9:17pm
The US Environmental Protection Agency proposed changes in its 2016 New Source Performance Standards for the oil and gas industry that it said would streamline implementation, reduce duplicative EPA and state requirements, and decrease unnecessary burdens for producers. The targeted improvements package is expected to save as much as $484 million in regulatory costs from 2019 through 2025, or $75 million/year.
Read more... (source: www.ogj.com)


Lukoil adds steam capacity at Yarega field
11 September 2018, 5:55pm
Lukoil has commissioned a steam-generation complex at Yarega heavy-oil field in the Republic of Komi in Russia, where first-half production was up 77% over the comparable period of 2017. The company said output in the first 6 months totaled 761,000 tonnes of highly viscous oil.
Read more... (source: www.ogj.com)


Pengrowth: Lindbergh flow tops 18,000 b/d
11 September 2018, 5:40pm
Bitumen production at Pengrowth Energy Corp.’s Lindbergh thermal oil project in the Lloydminster fairway of Alberta’s Cold Lake area has exceeded 18,000 b/d of bitumen, the company reported. Although three of eight infill wells drilled this year are on pump and starting to produce, output will decline by 40% briefly for maintenance.
Read more... (source: www.ogj.com)


OGUK: Lower offshore costs face low drilling activity at North Sea crossroads
11 September 2018, 4:23pm
Oil & Gas UK describes the UK’s offshore industry as at a crossroads in its Economic Report 2018. The report contrasts reduced costs, competitive fiscal terms, improved operational performance, and greater stability in oil and gas prices, with the impacts of record low drilling activity and a potentially damaging supply-chain squeeze.
Read more... (source: www.ogj.com)


WoodMac: Permian producers hedge bets against pipeline delays
11 September 2018, 3:41pm
Due to concerns that key pipeline projects may fail to start up by their 2019 target dates, Permian producers increased their 2020 oil-basis hedge positions by 431% in this year’s second quarter, according to Wood Mackenzie’s latest analysis of oil and gas hedging activity.
Read more... (source: www.ogj.com)


NPD grants Faroe Petroleum drilling permit in North Sea
11 September 2018, 3:07pm
The Norwegian Petroleum Directorate has granted Faroe Petroleum Norge AS a drilling permit for well 30/6-30 in the North Sea. The well will be drilled by Transocean Offshore International Ventures Ltd.’s Transocean Arctic semisubmersible drilling rig after concluding the drilling of wildcat well 35/11-21 A for Wellesley Petroleum AS in production license 248 I.
Read more... (source: www.ogj.com)


Gasprom Neft plans Neptune appraisal well
11 September 2018, 2:55pm
Gazprom Neft is preparing to drill a second well to appraise its Neptune discovery in the Okhotsk Sea in far eastern Russia after increasing the resource assessment by 60%. The company calls Neptune, on the Ayashsky license block in 60-70 m of water 55 km northeast of Sakhalin Island, its “most important discovery of 2017.”
Read more... (source: www.ogj.com)


MARKET WATCH: Crude oil prices rise on shooting at Libya oil office
11 September 2018, 2:37pm
Brent crude oil prices rose modestly on the London market Sept. 10 and continued higher Sept. 11 on news reports gunmen shot and killed two people at Libya’s National Oil Corp. headquarters on Sept. 10. US light, sweet crude futures also rose Sept. 11 on the news.
Read more... (source: www.ogj.com)


Baker Hughes: International rig count up 11 units in August
10 September 2018, 5:38pm
The international rig count for August reached 1,008 units, up 11 from the 997 counted in July, and up 56 from the 952 counted a year ago, according to Baker Hughes data. The international offshore rig count for August was 212, down 5 units from the 217 counted in July, and up 11 from the 201 counted in August 2017.
Read more... (source: www.ogj.com)


CARB program will monitor air quality in communities near oil fields
10 September 2018, 5:09pm
Four communities near oil and gas production areas have been chosen to launch a program that will monitor air quality to determine if the nearby activity is having an impact, the California Air Resources Board announced. The communities—Lost Hills and McKittrick-Derby Acres in Kern County, and Baldwin Hills and South Los Angeles in Los Angeles County—are near historic oil regions.
Read more... (source: www.ogj.com)


NPD grants Equinor drilling permit in the Norwegian Sea
10 September 2018, 4:52pm
The Norwegian Petroleum Directorate has granted Equinor Energy AS a drilling permit in the Norwegian Sea for well 6407/11-1, which will be drilled using Odfjell Drilling’s Deepsea Bergen semisubmersible drilling rig.
Read more... (source: www.ogj.com)


Latest New Mexico lease sale broke records, BLM reports
10 September 2018, 4:37pm
The US Bureau of Land Management’s third-quarter oil and gas lease sale in New Mexico broke records by grossing nearly $1 billion in bonus bids for 142 parcels, the US Department of the Interior agency said on Sept. 6. Revenue from the sale totaled $972,483,619.50, surpassing revenue for all BLM oil and gas sales in 2017 as well as the agency’s previous best sales year, BLM said.
Read more... (source: www.ogj.com)


MARKET WATCH: NYMEX crude oil price ends week with third consecutive decline
10 September 2018, 3:03pm
The light, sweet crude oil contract for October fell slightly on the New York market Sept. 7, marking its third consecutive decline. Brent crude oil prices for November and December climbed modestly in London. Analysts said a strengthening US dollar restrained light, sweet crude prices. Oil trades in US dollars so a stronger dollar makes oil expensive for buyers starting out with other currencies.
Read more... (source: www.ogj.com)


IHS Markit: Offshore drilling rigs to rise through 2020
10 September 2018, 1:13pm
Consistently higher oil prices and greater cost–efficiency in offshore projects are driving increased demand for offshore drilling rigs through 2020, particularly for deepwater projects, according to recent analysis from IHS Markit.
Read more... (source: www.ogj.com)


ExxonMobil’s ninth discovery off Guyana proves new play concept
10 September 2018, 1:10pm
ExxonMobil Corp. affiliate Esso Exploration & Production Guyana Ltd. encountered 197 ft of high-quality, oil-bearing sandstone following the drilling of the Hammerhead-1 well offshore Guyana, proving a new play concept for potential development.
Read more... (source: www.ogj.com)


Baker Hughes: US rig count unchanged at 1,048
7 September 2018, 5:34pm
The US drilling rig count remained unchanged at 1,048 units working for the week ended Sept. 7, according to Baker Hughes data. The count is up 104 units from this time a year ago when it stood at 944.
Read more... (source: www.ogj.com)


Surge Energy to acquire Mount Bastion
7 September 2018, 5:19pm
Surge Energy Inc., Calgary, will acquire 5,500 boe/d of production, mostly light oil, in western Alberta now operated by Mount Bastion Oil & Gas Corp. Surge has agreed to acquire all shares of Mountain Bastion for cash and stock worth a total of $320 million (Can.), up to $145 million of which will be cash.
Read more... (source: www.ogj.com)


Sapura Upstream makes maiden foray into Australia
7 September 2018, 5:14pm
Malaysian firm Sapura Upstream Sdn. Bhd. has made its maiden entry into exploration work in Australia through a farmin to three permits offshore Western Australia held by Perth-based private firm Finder Exploration Pty. Ltd. All three permits are in the North West Shelf oil and gas province.
Read more... (source: www.ogj.com)


Estimates raised for offshore NL resources
7 September 2018, 4:11pm
Assessed exploration and development potential offshore Newfoundland and Labrador has jumped with new resource estimates for parcels offered in a current license round. New resource totals are 49.2 billion bbl of oil and 193.8 tcf of natural gas, reflecting increases of 11.7 billion bbl of oil and 60.2 tcf of gas.
Read more... (source: www.ogj.com)


Sound Energy reports production concession onshore Morocco
7 September 2018, 3:21pm
UK-based Sound Energy PLC reported that the Moroccan Ministry of Energy has awarded it a production concession for the Tendrara natural gas discovery. The concession covers 133½ sq km. Drilling plans call for as many as five horizontal development wells in addition to recompletion of the existing TE-6 and TE-7 wells.
Read more... (source: www.ogj.com)


MARKET WATCH: NYMEX crude price drops on gain in US product inventory
7 September 2018, 3:06pm
The light, sweet crude oil contract for October fell by nearly $1 to settle under $68/bbl on the New York market Sept. 6 after a weekly government inventory report showed a gain in US product supplies, which outweighed the market’s response to a drop in US oil supplies.
Read more... (source: www.ogj.com)


Giant Yamal field’s third phase starting
6 September 2018, 5:33pm
Gazprom is placing onstream the third production facility at giant Bovanenkovskoye gas and condensate field in the Yamal Peninsula of northwestern Siberia. The facility will allow the field to produce as much as 115 billion cu m/year.
Read more... (source: www.ogj.com)


EIA: US crude inventories decrease 4.3 million bbl
6 September 2018, 5:14pm
US crude oil inventories, excluding the Strategic Petroleum Reserve, decreased by 4.3 million bbl for the week ended Aug. 31, according to data from the US Energy Information Administration.
Read more... (source: www.ogj.com)


Woodside ties Goodwyn A platform to Lady Nora, Pemberton fields
6 September 2018, 5:07pm
McDermott International has finished laying pipe for Woodside Petroleum Inc.’s Greater Western Flank Phase 2 project offshore Western Australia from the Goodwyn A platform to manifold locations for Lady Nora and Pemberton fields. Phase 2 gas production is expected by Dec. 31.
Read more... (source: www.ogj.com)


MARKET WATCH: NYMEX, Brent crude prices drop as tropical storm misses Louisiana
6 September 2018, 2:58pm
The light, sweet crude oil contract for October fell by more than $1/bbl on the New York market Sept. 5, which analysts attributed to Tropical Storm Gordon’s path through the Gulf of Mexico having little ill effect on the US oil and gas industry.
Read more... (source: www.ogj.com)


IHS Markit: Offshore drilling rigs to rise through 2020
5 September 2018, 5:03pm
Consistently higher oil prices and greater cost–efficiency in offshore projects are driving increased demand for offshore drilling rigs through 2020, particularly for deepwater projects, according to recent analysis from IHS Markit.
Read more... (source: www.ogj.com)


Equinor fast tracks Visund Nord IOR
5 September 2018, 4:17pm
Equinor started production from an improved oil recovery project in Visund Nord field in the Norwegian North Sea, adding an anticipated 13.3 million bbl at a development cost of 1.3 billion kroner. The additional production is 6% more than originally estimated.
Read more... (source: www.ogj.com)


Talos Energy acquires Whistler Energy II
5 September 2018, 4:05pm
Talos Energy Inc., Houston, has entered into and completed a transaction to acquire Whistler Energy II LLC. The bolt-on acquisition includes production facilities with unused capacity and new seismic data to be used in a field study to potentially identify additional drilling locations on the producing asset.
Read more... (source: www.ogj.com)


MARKET WATCH: NYMEX, Brent crude prices trade up slightly after US holiday
5 September 2018, 2:52pm
The light, sweet crude oil contract for October gained but held below $70/bbl on the New York market Sept. 4 when US commodity trading resumed after the Sept. 3 Labor Day holiday in the US. Brent crude oil for November also gained slightly, settling above $78/bbl.
Read more... (source: www.ogj.com)


LLOG Exploration brings deepwater gulf wells online
4 September 2018, 6:07pm
LLOG Exploration Co. LLC, Covington, La., has brought online several wells in the deepwater Gulf of Mexico and will move forward with additional development projects.
Read more... (source: www.ogj.com)


Norway’s PSA gives MOL Norge nod for exploration well
4 September 2018, 5:54pm
Norway’s Petroleum Safety Authority (PSA) granted permission for MOL Norge to proceed with its plan to drill an exploration well in the Norwegian North Sea targeting the Oppdal-Driva prospect.
Read more... (source: www.ogj.com)


Gas well inspections broke records in 2017, PDEP reports
4 September 2018, 4:53pm
Inspections of both conventional and unconventional natural gas wells broke records during 2017 in Pennsylvania, the state’s Department of Environmental Protection reported on Aug. 31. Program efficiencies including faster form submissions for operators and progress on improved e-permitting options helped raise compliance inspections to more than 36,000, PDEP said in its 2017 Oil and Gas Annual Report.
Read more... (source: www.ogj.com)


Transocean to acquire Ocean Rig
4 September 2018, 3:19pm
Transocean Ltd. plans to acquire Ocean Rig UDW Inc., boosting Transocean’s position in the ultradeepwater and harsh-environment drilling markets. Expected to close in early 2019, the transaction involves cash and stock worth an estimated $2.7 billion, including Ocean Rig’s debt. The transaction adds nine high-specification ultradeepwater drillships, two harsh-environment semisubmersibles, and two high-specification, ultradeepwater drillships currently under construction.
Read more... (source: www.ogj.com)


MARKET WATCH: NYMEX, Brent crude prices fall on rising US rig count
4 September 2018, 2:41pm
The light, sweet crude oil contract for October fell to settle below $70/bbl on the New York market Aug. 31 while Brent crude oil for October also dropped but still managed to settle above $77/bbl for a third consecutive trading session. Despite moderate losses Aug. 31, oil prices have risen on a weekly basis for two consecutive weeks, which analysts attribute to pending US oil sanctions on Iran scheduled to take effect in nearly November.
Read more... (source: www.ogj.com)


Spirit Energy farms in to drilling off UK
4 September 2018, 2:10pm
Spirit Energy Ltd. has agreed to fund the drilling of two exploratory wells and one appraisal well south of Hurricane Energy PLC’s Lancaster oil field under development in the West of Shetland area off the UK. The Transocean Leader semisubmersible rig will drill two horizontal exploratory wells on Hurricane Energy’s Warwick prospect and a horizontal well to appraise its Lincoln discovery, all next year.
Read more... (source: www.ogj.com)


Colorado’s gubernatorial contest
4 September 2018, 12:59am
At first glance, the 2018 race for Colorado’s governor looks like a classic Democrat-Republican contest when it comes to energy issues.
Read more... (source: www.ogj.com)


JIP promotes subsea equipment standardization
3 September 2018, 8:07am
Offshore drilling schedules are subject to industry’s use of highly customized subsea trees, which can escalate project costs and delay tree deliveries compared with using standardized equipment.
Read more... (source: www.ogj.com)


Relief-well drilling enhanced to pump more kill mud
3 September 2018, 7:53am
Recent enhancements in relief well technology enable operators to drill into prolific reservoirs while maintaining a single relief well contingency plan. Blowout contingency planning is required by regulators in various countries and is part of many oil companies’ internal preparations.
Read more... (source: www.ogj.com)


Egypt cutting arrears to spur natural gas exploration
3 September 2018, 7:42am
Egypt remains at the top of the list for international oil companies (IOC), mid-caps, and small exploration and production (E&P) companies considering new concessions.
Read more... (source: www.ogj.com)


Bamaga basin emerges as potential Eastern Australia gas supply source
3 September 2018, 7:27am
Eastern Australian politicians and industry are grappling with a looming east coast domestic natural gas supply crisis. Sydney-based Gulf Energy Ltd. has secured a leasehold over the whole of a new exploration area called Bamaga basin in the Gulf of Carpentaria, 150 km off the north Queensland coast.
Read more... (source: www.ogj.com)


Lundin appraisal well derisks new play concept off Norway
3 September 2018, 7:16am
Lundin Petroleum plans an extended well test and further exploration drilling following positive results on Rolvsnes that derisk the similar on-trend prospectivity on an adjacent license.
Read more... (source: www.ogj.com)


Equinor outlines plan to transform work on NCS
3 September 2018, 7:10am
Equinor is introducing new measures to transform the Norwegian continental shelf to tackle future challenges of declining production, ageing installations, and the need for reduced carbon dioxide emissions.
Read more... (source: www.ogj.com)


OGJ100 companies report higher 2017 earnings on stronger oil prices
3 September 2018, 7:07am
Oil & Gas Journal’s look at the leading 100 oil and gas producing companies based outside the US allows for comparison of the size and results of the entities for which financial results and production and reserves data are available.
Read more... (source: www.ogj.com)


OGJ150 firms post improved 2017 earnings, higher reserves
3 September 2018, 6:13am
The OGJ150 group of oil and gas producers recorded dramatically improved 2017 financial results compared with results from a year earlier, buoyed by stronger crude oil and gas prices.
Read more... (source: www.ogj.com)


Baker Hughes: US rig count up 4 to 1,048
31 August 2018, 5:36pm
The US drilling rig count gained 4 rigs to 1,048 units working for the week ended Aug. 31, according to Baker Hughes data. The count is up 105 units from this time a year ago when the count stood at 943.
Read more... (source: www.ogj.com)


BSEE releases investigation results from late 2016 platform fire
31 August 2018, 5:30pm
A Nov. 12, 2016, fire on a Gulf of Mexico offshore platform, which injured three Wood Group contract employees, broke out when a flammable gas mixture that was released through the thief hatch on the dry oil tank, migrated into the left fire tube, where it contacted either the left fire tube flame or the left burner pilot flame, a US Bureau of Safety and Environmental Enforcement investigation concluded.
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PSAC lowers outlook for Canadian drilling
31 August 2018, 4:35pm
The drilling outlook in Canada is weakening, according to the Petroleum Services Association of Canada. In the third update of its 2018 drilling forecast, the trade group lowered its forecast for wells drilled, which it measures as rigs released, to 6,900 from 7,400 in the April revision.
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Ohio reports increased Utica shale production in second quarter
31 August 2018, 4:10pm
Oil and gas production from Ohio’s Utica shale grew year-to-year during the second quarter, the Oil and Gas Division in the state’s Department of Natural Resources (ODNR) reported on Aug. 28.
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PennEnergy Resources to acquire Rex Energy assets
31 August 2018, 3:56pm
PennEnergy Resources LLC, Pittsburgh, Pa., will acquire substantially all the assets of Rex Energy Corp., State College, Pa., for $600.5 million in a cash deal. Nearly all the combined assets are in the core of the Marcellus shale area with 20 years of drilling inventory, the company said. Rex Energy filed for voluntary bankruptcy and announced plans to sell its Appalachian basin-focused assets in May.
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CNRL to buy idle Joslyn oil sands project
31 August 2018, 3:30pm
Canadian Natural Resources Ltd. (CNRL), Calgary, has agreed to buy the suspended Joslyn oil sands mining project in Alberta from Total SA and its partners for $100 million in cash on closing and $25 million/year for 5 years.
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MARKET WATCH: NYMEX, Brent crude prices gain on trade conflicts, supply worries
31 August 2018, 2:37pm
The light, sweet crude oil contract for October gained on the New York market Aug. 30 to settle above $70/bbl while Brent crude oil for October settled above $77/bbl.
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Tierra del Fuego appraisal well starts flow
30 August 2018, 5:01pm
Roch SA has started oil production from a well drilled to appraise its 2008 San Martin discovery in Tierra del Fuego and cased a second appraisal as a possible producer. According to Crown Point Energy Inc., a 51.56% interest holder based in Calgary, the SM a-1002 appraisal well started producing on Aug. 15 from the Jurassic Tobifera formation.
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ExxonMobil’s ninth discovery off Guyana proves new play concept
30 August 2018, 3:03pm
ExxonMobil Corp. affiliate Esso Exploration & Production Guyana Ltd. encountered 197 ft of high-quality, oil-bearing sandstone following the drilling of the Hammerhead-1 well offshore Guyana, proving a new play concept for potential development.
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Watching Government: Gerard’s API legacy
29 August 2018, 6:35pm
Jack N. Gerard has ended 10 years as the American Petroleum Institute’s president, but he has left an impressive legacy. Today’s API is more actively involved in issues than its predecessors.
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