Industry News

Bristow to merge with Era to create offshore helicopter giant

24 January 2020, 2:00pm
Offshore helicopter operator Bristow and its peer Era Group have made a deal to merge in an effort to create a more diverse and financially stronger player. ...
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Court rules in favor of Woodside in Bumi FPSO termination case

24 January 2020, 1:04pm
The Supreme Court of Western Australia has ruled in favor of Australian energy giant Woodside in a dispute over termination of Bumi’s Armada Claire FPSO charter. ...
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U.S. crude oil production efficiency continues year-over-year improvements

24 January 2020, 1:00pm
U.S. oil production from tight formations increased in 2019, accounting for 64% of total U.S. crude oil production. This share grew because of the increasing productivity of new wells that were brought online during 2019. Since 2007, the average first full month of oil production from new wells in regions tracked by the U.S. Energy Information Administration's (EIA) Drilling Productivity Report (DPR) has increased. The growing initial production rates have helped oil production from tight formations to increase despite the slowdowns in drilling activity when oil prices fell between 2015 and 2016. Since 2017, recovering oil prices and more efficient production from new wells have helped producers cover costs of drilling, production, and the development of new technologies.
Read more... (source: www.eia.gov)


Creditor calls for ‘transparent responses’ over ‘unclear details’ of Premier’s North Sea deal

24 January 2020, 11:07am
Premier Oil's largest creditor, ARCM, has raised new concerns regarding Premier's proposed acquisition of North Sea assets from BP and Dana Petroleum.  ...
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Seadrill taps Semco Maritime to prepare rig for Lundin gig

24 January 2020, 7:50am
Semco Maritime has been awarded a contract by Seadrill for preparation and modification of the West Bollsta prior to starting its ten-well contract with Lundin on the Norwegian Continental Shelf in... ...
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CGX wraps up seismic survey over Guyana block

24 January 2020, 7:13am
Seismic services provider PGS has completed a 3D seismic program on the northern section of the CGX Energy-operated Corentyne block offshore Guyana. ...
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SAExploration gets two seismic acquisition deals in West Africa

24 January 2020, 7:03am
Ocean bottom node seismic company SAExploration has won two new projects offshore West Africa. ...
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Mercator sells Prem Pride FSO to reduce debt

24 January 2020, 7:00am
India's Mercator Limited sold one of its floating storage and offloading (FSO) vessels earlier this month. ...
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Deep Down adds two new executive roles

24 January 2020, 6:20am
Houston-based oilfield services company Deep Down has appointed new vice presidents of sales and business development and finance. ...
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Oil Industry Climate Suits Have Poor Track Record

24 January 2020, 12:00am
Attempts to make Big Oil pay for climate change may be impossible.
Read more... (source: www.rigzone.com)


US Extends Clampdown on Iran

24 January 2020, 12:00am
The U.S. sanctioned four companies that it says have traded hundreds of millions of dollars worth of Iranian petroleum and petrochemicals in its latest effort to clamp down on the Islamic Republic's revenue sources.
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Global LNG Poised for Terrible Year

24 January 2020, 12:00am
Liquefied natural gas prices are poised to test record lows this year thanks to an onslaught of new supply and warmer winter temperatures curbing consumption.
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Mnuchin Questions Need for Carbon Tax

24 January 2020, 12:00am
U.S. Treasury Secretary Steven Mnuchin called it "a tax on hard working people."
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Santa Retiring from Pipeline Advocacy Group

24 January 2020, 12:00am
After 17 years at the helm, Don Santa is retiring as president of the Interstate Natural Gas Association of America (INGAA).
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SARS Oil Demand Implications Proved Transitory

24 January 2020, 12:00am
While SARS was an extreme event, the oil demand implications proved transitory, according to Standard Chartered.
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US Energy Independence Fuels Persian Gulf Insecurity

24 January 2020, 12:00am
The U.S. drive for energy independence fuels Persian Gulf insecurity, according to a new report by Verisk Maplecroft.
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Ammonia-Fueled Supply Vessel on the Drawing Board

24 January 2020, 12:00am
Equinor announced Thursday that the world's first carbon-free ammonia-fueled supply vessel is on the drawing board.
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Virus Anxiety Has Oil Poised for Losing Streak

24 January 2020, 12:00am
Oil is heading for the longest run of weekly losses since May on fears China's coronavirus outbreak may dent demand amid plentiful global supplies.
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Neptune hands out engineering and decom services deal for Dutch North Sea assets

23 January 2020, 3:33pm
Neptune Energy has awarded a four-year framework agreement for EPCIC (engineering, procurement, construction, installation & commissioning) and decommissioning services for brownfield... ...
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Greenpeace loses lawsuit appeal against Norway’s Arctic oil drilling plans

23 January 2020, 1:23pm
An Oslo appeals court has dismissed a lawsuit by environmentalists against the Norwegian government and its granting of new exploration licenses in the Arctic Barents Sea back in 2016.  ...
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EIA expects U.S. net natural gas exports to almost double by 2021

23 January 2020, 1:00pm
In its Short-Term Energy Outlook (STEO), released on January 14, the U.S. Energy Information Administration (EIA) forecasts that U.S. natural gas exports will exceed natural gas imports by an average 7.3 billion cubic feet per day (Bcf/d) in 2020 (2.0 Bcf/d higher than in 2019) and 8.9 Bcf/d in 2021. Growth in U.S. net exports is led primarily by increases in liquefied natural gas (LNG) exports and pipeline exports to Mexico. Net natural gas exports more than doubled in 2019, compared with 2018, and EIA expects that they will almost double again by 2021 from 2019 levels.
Read more... (source: www.eia.gov)


Equinor, Eidesvik to construct first carbon-free ammonia-fuelled PSV

23 January 2020, 10:08am
Norwegian oil major Equinor has signed an agreement with Eidesvik Offshore for the modification of the Viking Energy supply vessel for covering long distances fuelled by carbon-free ammonia. ...
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Worley bags FEED job on Total’s North Platte project

23 January 2020, 9:19am
Worley has been awarded the Front-End Engineering Design (FEED) contract for Total's North Platte field development located in the Gulf of Mexico. ...
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Edison spuds exploration well offshore Egypt

23 January 2020, 8:13am
Edison has started drilling the first exploration well in its North Thekah concession located in the Egyptian Eastern Mediterranean waters. ...
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Europa O&G still looking for partner to drill Inishkea prospect after ‘major’ backs out

23 January 2020, 7:43am
An unnamed oil major has given up on farming into Europa Oil & Gas' licenses located offshore Ireland and Europa is still looking to find a partner to drill its flagship Inishkea prospect. ...
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ADM Energy preparing for expansion in Nigeria and West Africa

23 January 2020, 7:09am
ADM Energy, an oil and gas investing company formerly known as MX Oil, is preparing to expand its portfolio of assets in Nigeria and West Africa. ...
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ION hired for seismic program offshore Colombia

23 January 2020, 7:00am
Geoscience company ION Geophysical has entered into a multi-client agreement with Colombia’s National Hydrocarbon Agency (ANH) granting rights to reprocess existing data and acquire new 2D and 3D... ...
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Prysmian to supply steel tube umbilicals for Mero project

23 January 2020, 6:45am
Prysmian has been awarded a contract by Libra, a consortium of international oil & gas operators, for steel tube umbilicals to be installed in the Mero oilfield, located offshore Brazil.  ...
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New executive VP and head of operations to join Talos Energy

23 January 2020, 6:31am
Talos Energy has appointment of Robert Abendschein as Executive Vice President and Head of Operations, succeeding Stephen E. Heitzman, Executive Vice President and Chief Operating Officer. ...
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Oil Prices Fall As Market Weighs Virus Impact

23 January 2020, 12:00am
WTI and Brent crude oil prices finished lower for the third straight trading day.
Read more... (source: www.rigzone.com)


US Oil Industry Made History in December

23 January 2020, 12:00am
API contends it's a win for US consumers.
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Focus Projects Strained McDermott Finances

23 January 2020, 12:00am
'Focus projects', namely Freeport and Cameron LNG, significantly strained McDermott's finances.
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Latest Norway Oil Spending Boom Probably the Last

23 January 2020, 12:00am
Western Europe's biggest oil and gas producer just witnessed its final investment boom, according to Norway's largest bank.
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Keystone XL Takes Another Step Forward

23 January 2020, 12:00am
TC Energy Corp.'s long-delayed Keystone XL pipeline took another step forward with U.S. approval of a key stretch of construction.
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Total Awards GOM North Platte Contract

23 January 2020, 12:00am
Total E&P USA has awarded Worley the FEED contract for its North Platte field development in the Gulf of Mexico.
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Sinking Natural Gas Prices Have Drillers Hitting the Brakes

23 January 2020, 12:00am
Gas production is showing signs of a slowdown after years of runaway growth.
Read more... (source: www.rigzone.com)


Exxon Mulling Upstream Asset Sales in North Sea, Germany

23 January 2020, 12:00am
The two sales could fetch more than $2 billion combined.
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Tullow, Total Plan Sale of Stakes in Kenya Oil Fields

23 January 2020, 12:00am
The French energy giant is seeking to sell half of its 25 percent stake in the fields.
Read more... (source: www.rigzone.com)


Anadarko Alum Joins Talos

23 January 2020, 12:00am
Talos Energy reported that Robert "Bob" Abendschein will succeed Stephen E. Heitzman.
Read more... (source: www.rigzone.com)


Enterprise Starts Gas Processing Service at East Texas Plant

23 January 2020, 12:00am
The facility can process 200 MMcf/d of gas and extract up to 12,000 bpd of natural gas liquids.
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Chrysaor submits decommissioning plan for Caister offshore platform

22 January 2020, 3:03pm
Chrysaor has submitted a plan for decommissioning of the Caister CM offshore platform in the UK North Sea to the UK authorities. ...
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Baker Hughes sees 49 pct jump in adjusted profit

22 January 2020, 1:24pm
Baker Hughes saw its fourth quarter 2019 net income drop 63 percent when compared to the same period in 2018 while its revenues saw a small increase of 1 percent. ...
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EIA projects less than a quarter of the world's electricity generated from coal by 2050

22 January 2020, 1:00pm
According to the U.S. Energy Information Administration's (EIA) International Energy Outlook 2019 (IEO2019), global electric power generation from renewable sources will increase more than 20% throughout the projection period (2018–2050), providing almost half of the world's electricity generation in 2050. In that same period, global coal-fired generation will decrease 13%, representing only 22% of the generation mix in 2050. EIA projects that worldwide electricity generation will grow by 1.8% per year through 2050.
Read more... (source: www.eia.gov)


Equinor faces legal challenge over Great Australian Bight drilling plans

22 January 2020, 10:44am
Norwegian oil and gas company Equinor is facing a legal challenge over its offshore drilling plans in the Great Australian Bight following a legal action by an organization looking to protect... ...
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Dana awards Triton job to Ocean Installer

22 January 2020, 9:53am
Dana Petroleum has awarded Ocean Installer a contract for work at the Triton Area Development, located in the Central North Sea around 190 km east of Aberdeen. ...
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New deals for DOF Subsea’s Skandi Singapore vessel

22 January 2020, 9:29am
Norwegian subsea service business DOF Subsea has won several contract awards in the Asia-Pacific (APAC) region. ...
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Glencore to market Sangomar crude oil for FAR

22 January 2020, 8:25am
FAR Limited has signed a binding Memorandum of Understanding with Glencore for the full allocation of the company’s share of crude oil from the Sangomar field, located offshore Senegal.  ...
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Shearwater wins second seismic campaign offshore India

22 January 2020, 7:54am
Marine seismic acquisition company Shearwater GeoServices has been awarded a 3D broadband marine seismic acquisition campaign by ONGC in Western Offshore India. ...
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Vaalco restores production at two Etame wells

22 January 2020, 7:39am
Houston-based Vaalco Energy has restored production at two Etame wells, located offshore Gabon, following workover operations. ...
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BW to start production from two new Tortue wells in March

22 January 2020, 7:16am
BW Energy has completed the second production well of the Tortue Phase 2 development located offshore Gabon.  ...
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Pemex orders more seismic acquisition work from EMGS

22 January 2020, 7:08am
The Norwegian offshore survey company EMGS is nearing the completion of all acquisition work ordered by Mexican oil company Pemex in mid-2019. ...
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Premier farms into Mubadala’s Indonesian blocks

22 January 2020, 7:00am
Mubadala Petroleum has completed the farmout of a 20 percent participating interest in each of the Andaman I and South Andaman Gross Split Production Sharing Contracts to Premier Oil.  ...
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Lekoil agrees financial obligations delay for Ogo with Optimum

22 January 2020, 6:50am
Lekoil has reached an agreement with Optimum Petroleum, the operator of the OPL 310 license which includes the Ogo discovery, on deferring the company's financial and operational obligations due... ...
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EIA forecasts crude oil prices will fall in the first half of 2020, then rise through 2021

21 January 2020, 1:00pm
In the U.S. Energy Information Administration's (EIA) January Short-Term Energy Outlook (STEO), EIA forecasts that the Brent crude oil spot price will average $65 per barrel (b) in 2020 and $68/b in 2021 and that the West Texas Intermediate (WTI) spot price will average $59/b in 2020 and $62/b in 2021.
Read more... (source: www.eia.gov)


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