Suncor extends Canadian Oil Sands offer for second time

Suncor Energy has extended the deadline for its hostile takeover bid for Canadian Oil Sands (COS) Ltd. for a second time. More »

U.S. drillers idle 20 oil-directed rigs: Baker Hughes

Drillers in the U.S. idled 20 oil-directed rigs this week, according to the latest data from Baker Hughes. More »

Condor Petroleum to acquire Marsa Energy

Condor Petroleum Inc. and Marsa Energy Inc. have announced that they have entered into an agreement that provides for the acquisition of Marsa by Condor, to create a well-capitalized company with significant exploration and development assets. More »

Statoil confirms Kårstø gas leak stopped

The gas leak occurring at the Kårstø processing plant Thursday night has now been stopped. More »

Iran's bid for oil investment at risk from Saudi clash

Iran’s diplomatic rift with regional rival Saudi Arabia will stiffen the challenge it faces in attracting foreign investment once sanctions on its economy are lifted. More »

Untapped Mexican oil fields lure next generation of wildcatters

While more than 180,000 onshore wells are producing oil in Texas, only 8,250 have been drilled by Petroleos Mexicanos across the border in Mexico. Welcome to the land of opportunity. More »

Saudi Aramco confirms consideration of IPO

Saudi Aramco has confirmed that it is considering an initial public offering. More »

Canadian regulator approves LNG Canada export license

Canada's National Energy Board (NEB) has approved the application of LNG Canada Development Inc. for a 40-year natural gas export license with a maximum term quantity of 1,494 Bcm. The issuance of this licence is subject to the approval of the Governor in Council. More »

Economics and opportunities driving consolidation in Permian basin: IHS

In an energy market struggling from oil price declines and anemic financial returns, the Permian Basin is the only U.S. unconventional liquids resource seeing significant year-over year, per-well productivity gains. More »

Canadian regulator approves LNG Canada export licence

Canada's National Energy Board (NEB) has approved the application of LNG Canada Development Inc. for a 40-year natural gas export license with a maximum term quantity of 1,494 Bcm. The issuance of this licence is subject to the approval of the Governor in Council. More »

Statoil inks new agreements with OneSubsea, Aker Solutions

Statoil Petroleum has signed Master Service Agreements with Aker Solutions and OneSubsea Processing. More »

Lundin spuds Bambazon exploration well, offshore Malaysia

Lundin Malaysia, a wholly owned subsidiary of Lundin Petroleum, has started drilling the Bambazon exploration well in Block SB307/SB308, offshore East Malaysia. More »

Lundin completes Imbok exploration well, offshore Malaysia

Lundin Malaysia, a wholly owned subsidiary of Lundin Petroleum, has completed the Imbok-1 exploration well in Block SB307/308, offshore East Malaysia. More »

Saudi Aramco confirms consideration of share sale

Saudi Aramco has confirmed that it is considering an initial public offering. More »

Shell’s BG deal gets backing of shareholder advisory firm

Royal Dutch Shell Plc has won the backing for its takeover of BG Group Plc from a body that advises many of its largest shareholders. More »

NEB approves LNG Canada export licence

The National Energy Board (NEB) has approved the application of LNG Canada Development Inc. for a 40-year natural gas export licence with a maximum term quantity of 1494 Bcm. More »

Safety Management Systems acquires a division of Petrofac’s Houston training operations

Safety Management Systems (SMS), through a recent transaction with Petrofac, will now establish a Houston training facility and will begin offering Major Emergency Management (MEM) training and additional health, safety and environmental (HSE) training. More »

Aquatic achieves 1 million working hours without a single Lost Time Incident

Aquatic Engineering and Construction Ltd. has marked 1 million working hours without a single Lost Time Incident (LTI). This milestone follows on from Aquatic’s achievement of 1000 days without an LTI in December 2014. More »

Economics and opportunities driving consolidation in top-performing Permian basin, says IHS

In an energy market struggling from oil price declines and anemic financial returns, the Permian Basin is the only U.S. unconventional liquids resource seeing significant year-over year, per-well productivity gains. More »

Saudi Arabia considering IPO for Aramco

Saudi Arabia is considering its own Big Bang. The world biggest crude exporter is considering selling a stake in its state-owned company, which controls more than a tenth of the global oil market. More »

Baker Hughes starts first field trial of its LEAP adaptive production system

Baker Hughes’ first field trial of its LEAP adaptive production system, installed on Dec. 12 at a depth of 5,200 ft in the Mississippi Lime play in Woods County, Oklahoma, for SandRidge Energy, is delivering 300% greater oil production and 200% higher natural gas production compared to the previous artificial lift solution. More »

Borets names Langley as North American HSE manager

Borets, a leader in the engineering, manufacturing, sales and service of electric submersible pump (ESP) systems, has named David Langley as North American HSE manager. More »

Energean increases production with new Prinos well

Energean Oil and Gas has completed the drilling of well PA-35A in Prinos, which was brought on-stream on Dec. 27. More »

TransCanada counters Keystone XL denial with $15-billion claim

TransCanada has filed a Notice of Intent to initiate a claim under Chapter 11 of the North American Free Trade Agreement in response to the U.S. Administration's decision to deny a Presidential Permit for the Keystone XL Pipeline on the basis that the denial was arbitrary and unjustified. More »

Lloyd’s Register, Aker Solutions ink global framework agreement

Lloyd’s Register and Aker Solutions have collaborated under a new global framework agreement to drive efficiency in engineering and subsea oil and gas developments. More »

TransCanada counters Keystone XL denial with $15-billion trade appeal

TransCanada Corporation has filed a Notice of Intent to initiate a claim under Chapter 11 of the North American Free Trade Agreement (NAFTA) in response to the U.S. Administration's decision to deny a Presidential Permit for the Keystone XL Pipeline on the basis that the denial was arbitrary and unjustified. More »

Statoil sees risk of deeper slump as oil touches 12-year low

Statoil ASA, Norway’s biggest energy company, said an oil rout that’s pushed prices to a 12-year low may still get worse. More »

Wood Group wins PetroRio contract in Brazil

Wood Group has been awarded a new contract by PetroRio to deliver services to the Polvo A platform, in the southern Campos basin, approximately 100 km off the coast of Rio de Janeiro. More »

Shale explorers pump oil on the cheap from slumbering U.S. wells

U.S. shale explorers will be able to bring new supply to market this year even with most of the rig fleet idled and drilling budgets cut to the bone. Their secret: thousands of mothballed wells. More »

Oil slides to 12-year low on China turmoil as $30 gets closer

U.S. oil futures in New York slid to the lowest in 12 years as turmoil in China’s markets pushes crude closer to $30/bbl. More »

TransCanada commences legal actions following Keystone XL denial

TransCanada Corporation has filed a Notice of Intent to initiate a claim under Chapter 11 of the North American Free Trade Agreement (NAFTA) in response to the U.S. Administration's decision to deny a Presidential Permit for the Keystone XL Pipeline on the basis that the denial was arbitrary and unjustified. More »

Pennsylvania DEP sends final oil and gas rules to Environmental Quality Board

The Pennsylvania Department of Environmental Protection (DEP) transmitted the final "Environmental Protection Performance Standards at Oil and Gas Well Sites" rulemaking (Chapters 78 and 78a) to the state Environmental Quality Board (EQB) for review. More »

Lloyd’s Register and Aker Solutions in new global framework agreement

Lloyd’s Register and Aker Solutions have collaborated under a new global framework agreement to drive efficiency in engineering and subsea oil and gas developments. More »

Crude tumbles below $34 as U.S. supply glut expands

Oil fell below $34/bbl in New York after U.S. gasoline inventories surged the most in 22 years and crude supplies at the American hub climbed to a record. More »

Southwestern Energy names new CEO as Mueller retires

Southwestern Energy Company said Wednesday that Bill Way, previously president and COO, has been appointed president and CEO by the board of directors. He succeeds Steve Mueller. More »

GE, Accenture announce first deployment of Intelligent Pipeline Solution

GE and Accenture said Wednesday that Columbia Pipeline Group (CPG) is the first company to deploy the Intelligent Pipeline Solution, a software solution that helps pipeline operators make informed decisions around pipeline safety and integrity. More »

MandA to ramp up in 2016 as financial pressures force companies to act: Wood Mac

In contrast to 2015, upstream oil and gas deal activity is set to ramp up this year regardless of what happens to the oil price, according to Wood Mackenzie's MandA outlook for 2016. More »

Oil pipeline needed to catalyze East African production boom: GlobalData

With recoverable oil reserve estimates of approximately 750 MMbbl and 600 MMbbl in Uganda and Kenya, respectively, and with government share of the reserves expected to be about 30–50%, the potential impact on economic development in these countries could be great. More »

Hungry for more shale oil stock? Pioneer Natural bets yes

Even after almost $400 billion in oil company market value was wiped out by investors fleeing the crude rout, Pioneer Natural Resources Co. is betting there’s ample demand for more shale-drilling shares. More »

Statoil awards M-I SWACO contract for new tank cleaning technology

Statoil has long been looking for a way to make tank cleaning on supply vessels safer and more effective. M-I SWACO has developed a new technological solution, and the company has now been awarded a contract with Statoil that is valued at around $56 million (NOK 500 million), including options. More »

Wintershall signs three-year contract with Kongsberg for well construction solution

Kongsberg Oil and Gas Technologies has been awarded a three-year contract by Wintershall Holding GmbH for provision of its hosted SiteCom real-time data aggregation and visualization solution for well construction. More »

Maersk Training, eDrilling partner to enhance drilling operations

Maersk Training and eDrilling have formed a partnership aimed at assisting EandP companies, drilling contractors, and services companies worldwide make informed drilling decisions and enhance drilling efficiency. More »

Brent drops to 11-year low before U.S. oil-stockpile data

Brent crude dropped to an 11-year low before weekly U.S. government data forecast to show fuel supplies rose in the world’s biggest consuming nation. More »

Halliburton faces long EU probe over Baker Hughes deal

Halliburton Co. passed on a chance to offer early concessions to European Union regulators, meaning it will likely face a protracted antitrust review of its plan to buy oil services rival Baker Hughes Inc. for $26 billion. More »

LNG Canada receives BC Oil and Gas Commission permit

LNG Canada has announced that the BC Oil and Gas Commission (OGC) has issued an LNG Facility Permit for the project, one of the key permits required for the construction and operation of the proposed LNG Canada project. More »

Honeywell announces Miller Duraseal Self-Retracting Lifeline for harsh environments

Honeywell has introduced the Miller DuraSeal Self-Retracting Lifeline (SRL), designed to provide greater reliability and safety in the harshest environments - including onshore and offshore oil and gas, mining, and petrochemical sites. More »

Paradigm extends its high-definition workflows in the Paradigm 15.5 release

Paradigm® has released its Paradigm® 15.5 comprehensive solution suite aimed at extending its high-definition subsurface workflows and enhancing user productivity. More »

First ever digital geologic map of Alaska published

A new digital geologic map of Alaska is being released providing land users, managers and scientists geologic information for the evaluation of land use in relation to resource extraction, conservation, natural hazards and recreation. More »

Pioneer Natural Resources says shale output exceeded target

Pioneer Natural Resources Co. posted higher-than-expected fourth-quarter crude and natural gas production. More »

Upstream MandA deal count plunged last year on oil price volatility: IHS

Despite an ample supply of oil and gas assets on the market due to low oil prices, the overall merger and acquisition (MandA) deal count in the upstream energy sector plunged in 2015 as the weakness and volatility in oil prices made it difficult for buyers and sellers to achieve consensus on value and outlook. These findings come from new analysis by IHS Inc. More »

API outlines the state of American energy in annual address

API President and CEO Jack Gerard delivered the keynote address at API's Sixth Annual State of American Energy event on Tuesday, releasing the State of American Energy 2016 report and highlighting the energy issues that will shape America's economic and political news this year. More »

Oil falls to two-week low as U.S. stockpiles seen nearing record

Oil dropped to a two-week low on speculation that a government report will show U.S. crude inventories climbed last week. More »

ConocoPhillips awards brownfield services contract for Bayu-Undan

ConocoPhillips has awarded Clough AMEC, a 50/50 joint venture between Clough and Amec Foster Wheeler, a three-year contract to provide asset support, operations and maintenance services to the Bayu-Undan offshore field development in the Timor Sea. More »

AWE approves first stage of Waitsia gas field development

The AWE-operated L1/L2 joint venture has made the final investment decision (FID) for Stage 1A of the Waitsia gas field development project, in the onshore Perth basin, Western Australia. More »

Valeura confirms Turkey gas find with Banarli exploration well

Valeura Energy Inc. has done a natural gas discovery in its first exploration well Bati Gurgen-1 on its 100% owned and operated Banarli licenses in the Thrace basin of Turkey, which flowed at an initial restricted rate of 3.4 MMcfd on a 24-hour production test. More »

Federal Court issues judgment in favor of Packers Plus in patent infringement lawsuit

The Federal Court of Canada issued judgment for Packers Plus Energy Services last month in a patent infringement lawsuit filed against Canuck Completions Ltd. in July 2013 for infringement of Packers Plus' Canadian Patent No. 2,412,072 entitled, "Method and Apparatus for Wellbore Fluid Treatment," commonly known to the industry as Open Hole Multistage Ball Drop Fracturing Systems, used in horizontal drilling and completions. More »

ConocoPhillips awards brownfield services contract for Bayu-Undan field development

ConocoPhillips has awarded Clough AMEC, a 50/50 joint venture between Clough and Amec Foster Wheeler, a three-year contract to provide asset support, operations and maintenance services to the Bayu-Undan offshore field development in the Timor Sea. More »

Libya issues ‘cry for help’ as Islamic State attacks oil tanks

Libya’s National Oil Corp. issued a “cry for help” as Islamic State militants attacked a second oil tank in the region of Es Sider, the country’s biggest oil port which has been closed for more than a year, according to the state-run National Oil Corp. More »

SVP Control and Administration set to retire as OFS Portal welcomes replacement

More »

Exxon Mobil contributes to north Texas tornado recovery and relief efforts

Exxon Mobil Corp. is to donate $100,000 to the American Red Cross to provide disaster relief assistance in response to the recent tornadoes in north Texas. More »

Talisman changes name after Repsol takeover

Talisman Energy’s legal name has been changed to Repsol Oil and Gas Canada, Inc., the company said in a statement Monday. More »

Suncor, Canadian Oil Sands court investors as bid deadline nears

Suncor Energy Inc.’s bid to take over Canadian Oil Sands Ltd. is coming down to the wire with both sides urging the target’s shareholders to consider their long-term interests as oil trades near a six-year low. More »

Statoil awards service contracts for NCS installations

Statoil has awarded two new, long-term contracts with an estimated value of $1.2 billion (NOK 11 billion) for insulation, scaffolding and surface treatment services to Beerenberg Corp AS and Prezioso Linjebygg AS. More »

Clough AMEC awarded brownfield services contract for Bayu-Undan, Timor Sea

Clough AMEC, a 50/50 joint venture between Clough and Amec Foster Wheeler, has been awarded a three-year contract by ConocoPhillips to provide asset support, operations and maintenance services to the Bayu-Undan offshore field development. More »

Valeura finds gas in its first Banarli exploration well; provides operational update

Valeura Energy Inc. has done a natural gas discovery in its first exploration well Bati Gurgen-1 on its 100% owned and operated Banarli licenses in the Thrace basin of Turkey, which flowed at an initial restricted rate of 3.4 MMcfd on a 24-hour production test. More »

Federal Court issues judgment in favour of Packers Plus in patent infringement lawsuit of Canadian Patent 2,412,072

On December 4, 2015, the Federal Court of Canada issued judgment for Packers Plus Energy Services Inc. in a patent infringement lawsuit filed against Canuck Completions Ltd. in July 2013 for infringement of Packers Plus' Canadian Patent No. 2,412,072 entitled, "Method and Apparatus for Wellbore Fluid Treatment," commonly known to the industry as Open Hole Multistage Ball Drop Fracturing Systems, used in horizontal drilling and completions. More »

Delta House FPS producing 80,000 bopd, LLOG says

The LLOG-operated Delta House floating production system (FPS) at Mississippi Canyon 254 has achieved its nameplate oil capacity of 80,000 bopd. More »

Swift Energy bankruptcy sale may hinge on fast loan approval

Swift Energy Co., the last major oil and gas driller in the U.S. to file for bankruptcy in 2015, is seeking quick approval for financing so it can keep operating while it arranges to sell the business. More »

Crude declines as global glut outweighs Middle East tensions

Oil reversed earlier gains as a global glut outweighed tensions between Saudi Arabia and Iran. More »

Iraq’s Kurds to continue exporting crude independently in 2016

Authorities in Iraq’s cash-strapped Kurdish region will withhold delivery of oil to the central government and export crude independently in 2016 to ensure revenue amid a global price slump, according to a senior lawmaker in the territory’s parliament. More »

Lundin Norge finds gas in Barents Sea

Lundin Norge, operator of production license 708, has made a minor gas discovery while concluding the drilling of wildcat well 7130/4-1, located on the Finnmark platform in the Barents Sea. More »

UK production rose more than 7% in 2015, Oil and Gas UK predicts

Oil and Gas UK’s chief executive, Deirdre Michie, has welcomed confirmation of the UK’s first rise in oil and gas production for over 15 years, but warned that the industry will be extremely challenged to sustain this into 2016 and beyond. More »

Canadian Oil Sands recommends staying independent after bid

(Bloomberg) -- Canadian Oil Sands Ltd. said shareholders’ interests are best served by remaining independent when Suncor Energy Inc.’s hostile bid expires on Jan. 8. More »

Cairn reports success with appraisal well offshore Senegal

Cairn Energy has successfully tested its SNE-2 appraisal well offshore Senegal with positive results, the company said Monday. More »

Statoil completes transactions with Repsol in Norway and U.S.

Statoil and Repsol have completed two of the transactions announced on Dec. 11, 2015. More »

Woodside discovers gas offshore Myanmar

Woodside has announced that the Shwe Yee Htun-1 exploration well in Block A-6 in the Rakhine basin, located in the western offshore area of Myanmar, has intersected a gross gas column of approximately 129 m. Approximately 15 m of net gas pay is interpreted within the primary target interval. More »

Lundin Norge in minor gas discovery on the Finnmark platform in the Barents Sea

Lundin Norge AS, operator of production licence 708, has made a minor gas discovery while concluding the drilling of wildcat well 7130/4-1, located on the Finnmark platform in the Barents Sea. More »

Shell starts gas production from offshore Ireland Corrib field

Natural gas has started to flow from Ireland’s Corrib gas field, marking an important milestone for the country. More »

Iran says its planned boost in oil exports won’t harm market

Iran is trying to regain its lost share of global crude sales and has no intention of harming the oil market with its planned increase in production once sanctions are lifted from its economy, Oil Minister Bijan Namdar Zanganeh said. More »

Russian oil output hits post-Soviet record amid lower price

Russia’s crude output set another post- Soviet record in December, according to Energy Ministry data, as the nation’s producers seek to withstand the slump in oil prices. More »