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Saturday, 21 November 2015

Global oil job cuts top quarter-million as rigs at five-year low

The number of jobs gutted from oil and gas companies around the world has now passed the 250,000 mark, with still more to come, according to industry consultant Graves and Co. More »

Friday, 20 November 2015

Crude rebounds as U.S. oil rig count declines to five-year low

Crude rose after the number of active U.S. oil rigs dropped to a five-year low and as European Central Bank President Mario Draghi hinted at additional stimulus. More »

NuTech Energy acquires Emerald Operating and Rocky Mountain Exploration

NuTech Energy Resources, Inc., a natural gas and oil exploration and development company, is pleased to announce that the Company has entered into an agreement to acquire wells from Emerald Operating Company and Rocky Mountain Exploration, Inc. More »

Ophir completes wildcat exploration in Gulf of Thailand

Ophir Energy plc has completed operations on the G4/50-11 wildcat exploration in the South Western Graben of the Gulf of Thailand. More »

Falling oil prices fail to deter European energy stock bulls

The cost-cutting campaign among European energy companies is paying off: Investors are buying up their shares even as oil prices drop. More »

WPX completes sale of Van Hook gathering system

WPX Energy has completed the sale of a North Dakota gathering system for approximately $185 million to a private equity fund managed by the Ares EIF Group, a subsidiary of Ares Management. More »

Amec Foster Wheeler ‘uniquely placed’ to lead North Sea decommissioning

Amec Foster Wheeler is ‘uniquely placed’ for decommissioning work in the North Sea oil and gas industry thanks to its experience in the nuclear sector. More »

DNV GL guidance on inspection planning of offshore structures will save operational costs

The low oil price and a reduction in newbuilds have driven the integrity of existing assets up the agenda for the oil and gas industry. More »

Paradigm releases Geolog 7.4 expanding functionality for petrophysicists, geologists and engineers

Paradigm has released Paradigm Geolog 7.4, the latest version of its industry-leading Geolog® formation evaluation software suite. More »

NuTech Energy Resources acquires Emerald Operating and Rocky Mountain exploration wells

NuTech Energy Resources, Inc. has entered into an agreement to acquire wells from Emerald Operating Company and Rocky Mountain Exploration, Inc. More »

UH Law Center joins Mexican oil and gas agency in mutual training and education pact

The University of Houston Law Center (UHLC) and Mexico's National Hydrocarbons Commission (CNH) recently launched a partnership that offers internships to law students while providing training and education in international energy law to Mexican energy officials. More »

Thursday, 19 November 2015

Murkowski welcomes approval of U.S.-Mexico oil exchange license

U.S. Sen. Lisa Murkowski (R – Alaska) has applauded the U.S. Department of Commerce’s confirmation that the agency did in fact issue a cross-border oil exchange license with Mexico. More »

Canada plans pipeline review changes

Canada plans to outline changes to pipeline reviews in the coming weeks and months as the Liberal government seeks to restore confidence in its regulators. More »

Shell confirms major deepwater Gulf of Mexico discovery

Shell completed the drilling and appraisal of Kaikias ahead of schedule and under budget, allowing the company to achieve more than 20% in cost savings. More »

ITT’s C’treat brand bags contract for Shell's Appomattox development

ITT Corporation has announced today that its C’treat brand has been awarded a contract from Shell Offshore Inc. More »

BOEM names Celata as regional director for the Gulf of Mexico regional office

Bureau of Ocean Energy Management (BOEM) Director Abigail Ross Hopper has named Mike Celata as the regional director for the Gulf of Mexico Outer Continental Shelf (OCS) Region. More »

API, ANGA to combine into single trade association

Following approval of both boards of directors, the American Petroleum Institute and America's Natural Gas Alliance announced the two organizations will combine into a single trade association, effective Jan. 1, 2016. The combined association will continue ANGA's mission under API. More »

Costain saves operator millions in North Sea exploration project

UK engineering solutions provider Costain has been instrumental in helping Ithaca Energy save millions, thanks to its sound management of subsea contracts in the operator’s Greater Stella Area (GSA) Development in the central North Sea. More »

Polarcus awarded broadband project offshore Egypt

Polarcus has signed a contract with an undisclosed client for a 3D marine seismic project offshore Egypt. More »

Shell-BG merger receives Australian antitrust clearance

Royal Dutch Shell’s acquisition of BG Group has received unconditional merger clearance from the Australian Competition and Consumer Commission (ACCC). More »

OMV Norway signs 3-year frame agreement with Aptomar

OMV Norway has signed a three-year frame agreement with Aptomar to deliver its integrated field monitoring services for the operator’s future drilling activities. More »

Norway oil producers seek more deals after $2 billion flurry

More than a year after oil prices started their biggest descent since the financial crisis, sellers and buyers of oil and gas assets in Norway are finally starting to see eye to eye. More »

OPEC with others to stabilize market, Saudi oil minister says

Saudi Arabia is working with other OPEC members and producers from outside the group to stabilize the market, Saudi Oil Minister Ali al-Naimi said. More »

Dresser-Rand business receives order for small-scale distributed production of LNG

The Dresser-Rand business, within Siemens Power and Gas, has recently received an order from Elizabethtown Gas, a subsidiary of AGL Resources based in Elizabeth, New Jersey, for two LNGo natural gas liquefaction systems. More »

ITT’s C’treat brand bags contract from Shell Offshore

ITT Corporation has announced today that its C’treat brand has been awarded a contract from Shell Offshore Inc. More »

Freudenberg Oil and Gas Technologies’ Materials Development Lab achieves additional accreditation

Freudenberg Oil and Gas Technologies’ Materials Development and Product Testing Lab facility recently achieved the International Standard ISO/IEC 17025:2005 accreditation for testing and calibration laboratories. More »

Marathon Oil‘s Michael J. Stover -V.P. of Operations Services to retire

Marathon Oil Corporation has announced today that Michael J. Stover, currently V.P. of Operations Services, has elected to retire effective Nov. 30 following nearly 30 years of service. More »

Wednesday, 18 November 2015

Petro Waste Environmental acquires landfill permit

San Antonio-based Petro Waste Environmental LP (PWE) today announced the Railroad Commission of Texas (RRC) has issued the company its first permit to operate a non-hazardous oil and gas waste landfill in Howard County. More »

Saddlehorn and Grand Mesa to combine pipeline projects

Saddlehorn Pipeline Company, LLC, announced today that it is combining projects with Grand Mesa Pipeline, LLC, for the construction of a 20-in. undivided joint interest pipeline. More »

OPEC menaced by U.S. shale hits Canada harder in price fight

OPEC took a swing at U.S. shale and knocked down Canada. More »

Decom North Sea, Oil and Gas UK to collaborate on North Sea decommissioning

UK offshore oil and gas industry trade bodies Oil and Gas UK and Decom North Sea are to align on key areas to deliver a more efficient and effective decommissioning agenda for the North Sea. More »

Oil recovers from two-month low on report of U.S. supply decline

Oil rose from the lowest close in more than two months as U.S. industry data showed crude supplies fell in the world’s biggest consumer. More »

Claxton, LR Senergy form alliance to offer full decommissioning service

Claxton Engineering Services, an Acteon company, has formed a collaborative alliance with energy services firm LR Senergy to provide clients with a fully managed, technically proficient end-to-end offshore rig-based decommissioning service. More »

RSP Permian announces closing of Midland basin acquisition

RSP Permian has closed its acquisition of undeveloped acreage and oil and gas producing properties in the Midland basin for a purchase price of approximately $137 million, the company said Wednesday. More »

DNV GL helps the petroleum industry to cut emissions

The amount of climate gases emitted per produced unit is increasing, despite efforts over many years to make oil and gas production more efficient. More »

UK North Sea decommissioning costs set to rise: Oil and Gas UK

The cost of dismantling oil production facilities in the UK North Sea over the next decade will be higher than previously forecast as more fields are scheduled to halt production, according to a group representing the British industry. More »

ITF’s GCC members agree to advance hybrid EOR proposals

Following significant interest from technology developers, the Industry Technology Facilitator (ITF) will present proposals to its Gulf Cooperation Council (GCC) members for a potential collaborative joint industry project (JIP) on hybrid enhanced oil recovery (EOR). More »

EuroROV chooses Forum Sub-Atlantic as preferred ROV supplier

EuroROV, the Spanish ROV training and engineering company, has taken delivery of a Forum Sub-Atlantic Mojave vehicle for its newly-launched ROV pilot training facility. More »

Schlumberger-Cameron merger gets nod from U.S. Justice Department

Schlumberger and Cameron have received clearance from the U.S. Department of Justice for their proposed merger without any conditions, granting early termination of the waiting period required by the Hart-Scott-Rodino Antitrust Improvements Act of 1976 with respect to the proposed merger. More »

U.S. energy exports critical to strengthening security in Asia-Pacific: ACCF

More than 40 thought-leaders and Hill staff filled the historic Kennedy Caucus Room of the Russell Senate Office Building on Tuesday morning for an hour-long discussion on U.S. energy policy which concentrated mostly on the decades-long ban on exporting domestic crude oil. More »

Takeover of Simmons ends 41-year run for ‘peak oil’ dealmaker

The takeover of Simmons and Co. by Piper Jaffray Cos. marks the end of an energy industry dealmaker founded by one of the leading champions of the “peak oil” theory, Matthew R. Simmons. More »

Dutch court rules gas output from EU’s biggest field be cut

A Dutch court Wednesday ruled that natural gas extraction from Europe’s largest deposit should be cut by another 18% as local residents sought to stop tremor-inducing production that’s damaging their houses. More »

Suncor plans higher spending of up to $5.5 billion next year

Suncor Energy Inc., Canada’s largest crude producer, plans to boost capital spending to as much as C$7.3 billion ($5.5 billion) next year to expand operations and increase efficiency. More »

Schlumberger-Cameron merger receives unconditional clearance from U.S. Department of Justice

Schlumberger Limited and Cameron International Corporation have jointly announced today that the U.S. Department of Justice has cleared their proposed merger without any conditions, granting early termination of the waiting period required by the Hart-Scott-Rodino Antitrust Improvements Act of 1976 with respect to the proposed merger. More »

U.S. Energy exports critical to strengthening security in Asia-Pacific

More than 40 thought-leaders and Hill staff filled the historic Kennedy Caucus Room of the Russell Senate Office Building on Tuesday morning for an hour-long discussion on U.S. energy policy which concentrated mostly on the decades-long ban on exporting domestic crude oil. More »

ExxonMobil Foundation gives nearly $2 million to Texas AandM University

The ExxonMobil Foundation presented a $1.9 million check to the Texas AandM Foundation on Nov. 13 at an event on campus at the Jon L. Hagler Center. More »

CIS drives Subsea Piles in 160 minutes on Alvheim development

Conductor Installation Services Ltd. (CIS), an Acteon company, has successfully completed its second subsea piling campaign for Technip in Norway. More »

API urges leaders to model climate solutions on America's market-driven success

API urged leaders to use the proven results of America's market-driven model for addressing climate challenges during an upcoming conference in Paris. More »

Gardner Denver expands capabilities in Permian basin with new regional repair center

Gardner Denverʼs Petroleum and Industrial Pumps Division recently opened a 70,000 sq ft regional repair center in Odessa, Texas. More »

Tuesday, 17 November 2015

Saudi Aramco selects AUMA for Al Wasit Gas contract

Approved Saudi Aramco vendor status, strong technical support and strength in after-sales service were key reasons for the selection of AUMA valve control devices at the Al Wasit Gas Program, Saudi Aramco’s development scheme for the Arabiyah and Hasbah offshore Saudi Arabian gas fields located in the Arabian Gulf. More »

Statoil exits Alaska following exploration results in neighboring leases

The leases in the Chukchi Sea are no longer considered competitive within Statoil’s global portfolio, so the decision has been made to exit the leases and close the office in Anchorage, Alaska. More »

OPEC said to delay long-term strategy amid rift over production

OPEC’s board of governors was unable to agree on the group’s long-term strategy plan and won’t present it to oil ministers when they meet on Dec. 4 in Vienna, two OPEC delegates with knowledge of the matter said. More »

Russia resolves to make most of Soviet oil as new finds wane

Russia plans to squeeze all the oil it can from Soviet-era discoveries to hold crude output stable for the next two decades as new finds are delayed by sanctions and slumping prices, according to the Energy Ministry. More »

Mexico planning to join IEA

Mexican Secretary of Energy Pedro Joaquín Coldwell has presented International Energy Agency (IEA) Executive Director Fatih Birol with an official letter declaring Mexico’s interest in becoming an IEA member. More »

CIS drives subsea piles in 160 minutes on Alvheim development

Conductor Installation Services (CIS), an Acteon company that provides hammer services to install conductors and drive piles, has successfully completed its second subsea piling campaign for Technip in Norway. More »

Austin-based RigUp joins the OFS Portal community of networks

OFS Portal announced Monday that RigUp, Inc. has joined the OFS Portal community. RigUp is a leading marketplace for oilfield services built and designed specifically for the North American upstream industry. More »

Cambla secures first decommissioning contract wins

International project services consultancy, Cambla, heralds its move into the decommissioning sector, having been awarded contracts with two major operators. More »

BG Group joins World Bank initiative on carbon pricing

BG Group has joined the World Bank Carbon Pricing Leadership Coalition (CPLC), an initiative which brings together over 85 governments, corporate and civil society organizations to collaborate on carbon pricing systems and policies. More »

TGS to cut 16% of workforce, write down multi-client data as slump drags on

In order to further improve organizational efficiency and competitiveness, TGS is implementing a new global cost reduction and efficiency plan, the company said Tuesday. More »

Tullow wildcat disappoints in Kenya

Tullow Oil announced Tuesday that the Emesek-1 exploration well, in Block 13T in the North Lokichar basin, Northern Kenya, reached a total depth of 3,000 m without encountering commercial hydrocarbons. More »

Oil approaching $40 deepens investor pessimism on recovery

Hedge funds have turned more pessimistic on oil as prices flirted with $40/bbl for the first time since August. More »

Oil tycoon Pickens’ energy holdings slump as downturn drags on

Oil tycoon T. Boone Pickens reversed course in the third-quarter by slimming down his energy holdings and selling several companies he’d bought just three months earlier as the worst crude market downturn in decades drags on. More »

North Dakota’s Bakken pumps less oil for first time in decade

The shale boom in North Dakota has softened to a whisper. More »

BP’s drilling plan offshore Australia turned back by regulator

BP Plc will need to revise its plan to explore for oil in an untapped frontier off the coast of southern Australia before regulators will approve its drilling program estimated to cost more than A$1 billion ($710 million). More »

Monday, 16 November 2015

Enbridge cuts 5% of workforce to cope with oil downturn

Enbridge Inc., Canada’s largest pipeline operator, said it’s reducing its workforce by 5% to cope with the downturn in the oil industry. More »

Schlumberger acquires Fluid Inclusion Technologies, Inc.

Schlumberger today announced the acquisition of Fluid Inclusion Technologies, Inc. (FIT), a US-based oil and gas service company specializing in laboratory analysis of trapped fluids in rock material, and advanced borehole gas analysis on drilling wells. More »

Apache, Anadarko golden parachutes offer less incentive to sell

Apache Corp. and Anadarko Petroleum Corp., two exploration businesses that may find themselves as targets in an industry consolidation, are run by chief executives with smaller golden parachutes than similar-sized oil and gas companies. More »

HKN Energy receives approval of Sarsang Development Plan from Kurdistan

HKN Energy Ltd. announced Monday that the Kurdistan Regional Government of Iraq (KRG) has formally approved its Sarsang Development Plan, which projects increasing production to 50,000 bopd. Additionally, HKN has also declared that the East Swara Tika-1 well, drilled adjacent to the Swara Tika structure, is commercial. More »

Ensco promotes Jon Baksht to CFO as Swent set to retire

Ensco announced Monday that Jon Baksht has been named as the company’s new CFO. He will be based in London and succeeds Jay Swent, who is retiring at the end of the year. More »

BG Group and partners to invest A$1.7 billion in Australian gas expansion

QGC Pty Limited, along with joint venture partners China National Offshore Oil Corporation and Tokyo Gas, has announced a two-year, A$1.7 billion development of its natural gas tenements west of Wandoan, Australia, to support gas production. More »

Warren Resources names James A. Watt as president and CEO

Warren Resources announced Monday that, effective immediately, the board of directors has appointed James A. Watt as president and CEO of the company. More »

Falck Safety Services secures IMIST accreditation in U.S.

Access to a ground-breaking global training initiative, which aims to transform safety and competency in the oil and gas industry, continues to expand with the approval of five new invigilation centers in the U.S. More »

Exxon Mobil announces retirement of Ken Cohen as V.P. of public and government affairs

Ken Cohen, Exxon Mobil’s V.P. of public and government affairs, has announced his intention to retire effective Jan. 1, 2016, after more than 38 years of service. More »

Greater Lafourche Port Commission wins national environment award

At its regular board meeting, the Greater Lafourche Port Commission showcased its latest national award for environmental restoration and recognized Nicholls State University as a valuable partner on the award-winning project. More »

Saudi Aramco, Hyundai Heavy Industries collaborate on new business opportunities

Saudi Aramco and Hyundai Heavy Industries (HHI) Group have signed a general memorandum of understanding (MoU) to jointly collaborate on business development opportunities in the Kingdom of Saudi Arabia. More »

$38 million awarded to study effects of oil on Gulf of Mexico

The Gulf of Mexico Research Initiative (GoMRI) Research Board will award nearly $38 million to individuals and teams studying the effects of oil on the Gulf of Mexico ecosystem and public health. A total of 22 research proposals are being funded under this most recent GoMRI program. More »

Oil producers hungry for deals drool over Permian basin

The worst oil market in decades would be hard to spot in West Texas, where two-lane county roads are still jammed with trucks and energy companies are on the prowl for deals. More »

Oil theft soars as downturn casts U.S. roughnecks out of work

The moon was a waning crescent sliver Sept. 9 when a man emerged from an oil tanker, sidled up to a well outside Cotulla, Texas, and siphoned off almost 200 bbl. More »

Premier Oil sells Norwegian business to Det norske for $120 million

Premier Oil has agreed to sell Premier Oil Norge AS, which comprises all of the company's Norwegian assets, to Det norske oljeselskap for a cash consideration of $120 million. More »

Norwegian regulators grants green light for production start-up on Edvard Grieg

The Norwegian Petroleum Directorate has granted consent to start production on the Lundin Norway-operated Edvard Grieg field in production license 338 in the North Sea. More »

Premier Oil sells its Norwegian business to Det norske for $120 million

Premier Oil has agreed to sell Premier Oil Norge AS (PONAS) which comprises all its Norwegian assets, to Det norske oljeselskap for a cash consideration of $120 million. More »

Lundin to initiate production at Edvard Grieg field in North Sea

The Norwegian Petroleum Directorate (NPD) has granted consent to start production on the Lundin Norway-operated Edvard Grieg field in production license 338 in the North Sea. More »

Port Commission wins national environment award, partnership with NSU recognizedC

At its regular board meeting, the Greater Lafourche Port Commission showcased its latest national award for environmental restoration and recognized Nicholls State University as a valuable partner on the award-winning project. More »

Saudi Aramco and Hyundai Heavy Industries collaborate on new business opportunities

Saudi Aramco and Hyundai Heavy Industries (HHI) Group have signed a general memorandum of understanding (MoU) to jointly collaborate on business development opportunities in the Kingdom of Saudi Arabia. More »

$38 million awarded to study effects of oil on Gulf of Mexico: GoMRI

The Gulf of Mexico Research Initiative (GoMRI) Research Board will award nearly $38 million to individuals and teams studying the effects of oil on the Gulf of Mexico ecosystem and public health. A total of 22 research proposals are being funded under this most recent GoMRI program. More »

Oil trades near two-month low as drillers return rigs amid glut

Oil traded near the lowest close in more than two months amid speculation a global glut will be prolonged as U.S. drillers put rigs back to work in the world’s biggest consumer. More »

Sunday, 15 November 2015

Chesapeake lenders flee debt as oil rout pummels reserves value

Chesapeake Energy Corp.’s bonds have plunged to half their face value as lenders fret that tumbling energy prices are hurting their chances of getting paid on borrowings that are three times the current worth of the company’s oil and gas fields. More »
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