In drive to deflate natural gas surplus, U.S. pounces on Canada

U.S. gas drillers battered by the lowest prices in 17 years have found another release valve for their output: Canada. More »

New tracer technology brings cost savings to unconventional well stimulation

Technology company Tracerco, part of the FTSE 100 Johnson Matthey Plc, has been helping customers to achieve savings of as much as 20% in reservoir stimulation costs through their smart tracer technology. More »

Russia seen exporting 180,000 bpd more oil in 2016

Russia will export about 180,000 bopd more in 2016 compared to last year, analysts said Friday. More »

BP avoids lawsuits over moratorium that followed Gulf spill

BP Plc won’t have to face lawsuits by energy and oilfield service companies over losses they blamed on the U.S. offshore drilling ban imposed after the 2010 Gulf of Mexico oil spill. More »

Shale wells are getting more profitable every year: Rystad

Rystad Energy’s latest analysis shows that wellhead break-even price has decreased considerably across all main shale plays in North America over the last three years. More »

Up to half of U.S. LNG at risk of shut-in over next five years: Wood Mac

Using its proprietary Global Gas Model, Wood Mackenzie has undertaken sensitivity analysis to determine the outlook for US LNG exports. More »

Petrofac evolves its ‘Duty Holder’ model in support of new North Sea investment

Petrofac has been appointed as Duty Holder to support Anasuria Operating Company Limited (AOC), a UK joint venture formed between Hibiscus Petroleum Berhad and Ping Petroleum Limited. More »

ION Geophysical acquires Ontario-based Global Dynamics Inc.

ION Geophysical has acquired Global Dynamics Incorporated (GDI), an Ontario-based company that designs and develops marine towing systems and equipment, including its proprietary SailWing technology. More »

INEOS Intrepid carries first U.S. shale gas to Europe

The INEOS Intrepid, the world’s largest LNG multi gas carrier, left the Marcus Hook terminal near Philadelphia on Wednesday. The vessel is bound for Rafnes in Norway and is carrying 27,500 m3 of U.S. shale gas ethane. More »

Goldman sees ‘green shoots’ in oil market as storage risks recede

The oil market may be starting to rebalance as U.S. production shows signs of declining and output in Nigeria and Kurdistan is disrupted, potentially shrinking the global oversupply, according to Goldman Sachs Group Inc. More »

Oil price may have bottomed as high-cost producers cut, says IEA

Oil prices may have passed their lowest point as shrinking supplies outside OPEC and disruptions inside the group erode the global surplus, the International Energy Agency said. More »

OPEC-Russia oil freeze coalition struggles with its very first step

A month after promising co-operation that would re-balance global oil markets, the producer coalition forged by Saudi Arabia and Russia is having difficulty taking its first step. More »

Eni successful in first production test of Zohr field

Eni successfully performed the production test of Zohr 2X, first appraisal well of Zohr discovery, in the Shorouk block, offshore Egypt. More »

Oil slips from 3-month high on doubts about production freeze meeting

Oil slipped from a three-month high amid uncertainty about when a meeting between Saudi Arabia, Russia and other producers to freeze output will occur as Iran seeks to rebuild its exports. More »

CGG releases latest version of HampsonRussell software suite

CGG GeoSoftware has announced the release of HRS 10.1. HampsonRussell software enables advanced geophysical interpretation and analysis for reducing the risks and costs associated with EandP. More »

Halliburton has until July to convince EU over Baker Hughes deal

Halliburton Co. faces a new July 11 deadline to convince European Union regulators to approve its acquisition of Baker Hughes Inc. as the oil-service providers continue to work on a package of concessions to assuage competition concerns. More »

Drillers see dire impact at worst time from Obama's methane plan

The Obama administration’s decision to crack down on methane leaking from oil and gas wells across the country promises to reduce greenhouse gases but also imposes new costs on an industry that’s already reeling. More »

Saudi Aramco said to seek advice on assets and timing for IPO

Saudi Arabian Oil Co. has asked consultants to bid for a role advising it on which assets to privatize and how to execute a potential share sale as the kingdom presses ahead with plans for an initial public offering, people with knowledge of the matter said. More »

Drillinginfo appoints Jeff Hughes as president, COO

Drillinginfo has announced the appointment of Jeff Hughes as president and COO. More »

Arkansas state agencies stop work on EPA's carbon rule

The Arkansas Department of Environmental Quality (DEQ) and the Public Service Commission (PSC) will not implement a state plan to comply with EPA's carbon rule during the Supreme Court’s stay, the state agencies said in a joint statement. More »

Total EandP Angola awards Technip three-year contract

Technip Angola Engenharia Limitada, a joint venture between Technip and Sonangol, has been awarded a three-year engineering services contract by Total EandP Angola. More »

GE oil chief weighing Iran opportunities in growth strategy

General Electric Co. is plotting a strategy for its oil and gas business in Iran as the U.S. eases sanctions with the petroleum-rich country. More »

Oil, gas well emission cuts agreed to by U.S. as Canadian PM visits

President Barack Obama and Canadian Prime Minister Justin Trudeau announced steps to limit methane emissions from existing oil and natural gas wells, a move intended to underscore their commitment to combat climate change. More »

PetroRio pulls out of Namibia exploration

PetroRio is terminating its exploratory activities in Namibia, the company said in a statement. More »

Chariot kicks off 3D seismic survey offshore Brazil

Chariot Oil and Gas Ltd. has commenced a 3D seismic acquisition survey of approximately 785 km2 covering its wholly operated BAR-M-292, BAR-M-293, BAR-M-313 and BAR-M-314 licenses in the Barreirinhas basin, offshore Brazil. More »

Oil ends at three-month high as gasoline demand cuts supplies

Oil rose to the highest level in three months after a government report showed stronger demand for gasoline reduced fuel inventories. More »

Baker Hughes enrolls in ROIP, recognized for its GoM Center of Excellence

Baker Hughes announced today that it is the first service company to have enrolled in the new Regional Operational Integrity Program (ROIP) for the petroleum and natural gas industry, and to receive Gold Recognition for its Gulf of Mexico (GoM) Center of Excellence from the Wollam Petroleum Advisory Group (WPAG). More »

New Argus WTI Houston crude oil futures trade

WTI Houston (Argus) financial futures listed on CME Group's NYMEX exchange traded on Tuesday, March 8, for the first time since the launch of the financial contracts last month. More »

Seatronics, RTS achieve 100 successful installations with SDM

Seatronics, an Acteon company, and Norwegian associates RTS, have achieved 100 successful global installations with the Subsea Deflection Monitoring system (SDM). More »

WPX Energy completes sale of San Juan basin gathering system

WPX Energy has completed the sale of its San Juan basin gathering system for a consideration of approximately $309 million. More »

Chesapeake said to weigh sale of assets in Oklahoma’s Stack region

Chesapeake Energy Corp. is weighing a sale of some of its holdings in an oil-soaked patch of shale in Oklahoma known as the Stack, as the natural gas giant unloads assets to pay down debt, according to people familiar with the matter. More »

Total plans hunt for 'elephant' oil find off Uruguay's coast

France’s Total SA is weeks away from drilling one of its most important offshore exploration wells in the Americas this year as it hunts for a giant oil field in Uruguayan waters. More »

Deep Down wins mooring line system order from Shell

Deep Down, Inc., an oilfield services company specializing in deepwater and ultra-deepwater oil production distribution system support services, has received an order from Shell for an umbilical and distribution system to support a production platform mooring line control system. More »

2H Offshore launches new fracture mechanics software

2H Offshore has designed and launched a new engineering critical assessment (ECA) software: FlawIQ. The software automates both BS7910 and API 579 procedures, making it faster and simpler to perform accurate fatigue assessments for offshore components. More »

KJ Energy acquires interests in 329 wells in East Texas, North Louisiana

KJ Energy, LLC has announced the acquisition of oil and gas producing assets in East Texas and North Louisiana. The transaction closed on Feb. 29. More »

Cairn Energy gains most in 16 months after successful appraisal well offshore Senegal

Cairn Energy Plc gained the most in 16 months after the explorer reported positive results from an oil well off Senegal, potentially opening up commercial development for the area. More »

Great Yarmouth could be world-class decommissioning center, conference hears

Great Yarmouth has a “golden opportunity” to be the world-class center of excellence for the multi-billion pound decommissioning program in the southern North Sea (SNS) and beyond, industry leaders announced. More »

Great Yarmouth could be world-class center of excellence for decommissioning, conference hears

Great Yarmouth has a “golden opportunity” to be the world-class center of excellence for the multi-billion pound decommissioning program in the southern North Sea (SNS) and beyond, industry leaders announced. More »

DNV GL looks to pump up subsea processing with JIP on standardization

A joint industry project (JIP) to standardize subsea processing systems has been kick started by DNV GL with industry partners Petrobras, Shell, Statoil and Woodside. More »

Rosneft kicks off exploratory drilling offshore Vietnam

Rosneft Vietnam, a Rosneft subsidiary, has started drilling exploration well PLDD-1X at Block 06.1 offshore Vietnam. This is the first time Rosneft has acted as operator of a drilling project in International waters. More »

Report: Oil and natural gas industry creating more opportunities for women, minorities

Women and minorities will fill an exceptional number of the nearly 1.9 million job opportunities projected in the oil and natural gas and petrochemical industries by 2035, according to a new IHS report sponsored by API. More »

TGS appoints new CEO as Hobbs retires

Kristian Johansen will succeed Robert Hobbs as CEO of TGS on March 11, the company said Wednesday. After eight years with TGS, including nearly seven years as CEO, Hobbs has decided to retire. More »

Shell seen as best oil major wager by analysts after BG deal

Ben Van Beurden staked his reputation on Royal Dutch Shell Plc’s $53-billion acquisition of BG Group Plc as crude slumped. Analysts are rewarding the CEO by putting the enlarged company in pole position to exploit a market upturn. More »

U.S. oil production headed to four-year low as shale boom wanes

U.S. crude production will fall to its lowest since 2013 next year as battered shale drillers idle rigs to conserve cash, according to a government report. More »

CONSOL Energy, Magnum Oil Tools partner in Utica shale

Magnum Oil Tools has announced the successful deployment of 20 Magnum Vanishing Plugs (MVP) in the Utica for CONSOL Energy. The MVP is a wellbore isolation tool that drastically reduces time to production. More »

Oil falls from two-month high as U.S. supplies seen growing

Crude oil fell from the highest level in two months on expectations that reports will show U.S. inventories rose last week to an eight-decade high. More »

Biggest LNG buyer turns seller as reload terminal set to start

A facility on Japan’s Pacific coast will be ready next month to ship LNG abroad, as a global glut turns the world’s biggest buyer into a seller of the fuel. More »

Proppant market exceeded 100 billion pounds in 2015, report finds

PropTester, Inc. and KELRIK LLC have announced the release of the 2015 Proppant Market Report. The report provides a detailed overview of the global proppant market in relation to prior years. More »

Trelleborg introduces new sealing material for extreme temperature applications

Trelleborg Sealing Solutions has introduced two advanced elastomers engineered to withstand extremely low temperatures while meeting rigorous international standards for elastomeric material in oil and gas production. More »

Transocean delays delivery of five high-spec jackups

Transocean has announced a mutual agreement with Keppel Offshore and Marine Ltd.'s shipyard, Keppel FELS, to defer the delivery and related payments of five high-specification jackups until 2020. More »

Tax reform vital for future UK production, Oil and Gas UK says

LONDON -- Oil and Gas UK has set out its proposals for tax changes in the forthcoming Budget to boost the industry’s competitiveness and investors’ confidence in the UK Continental Shelf (UKCS). More »

Shale gas proves more resilient than U.S. government expected

America’s energy explorers have become so good at pulling natural gas out of the ground that government forecasters are having a hard time figuring out how much they’re producing. More »

Old-school ways beating oil rout in birthplace of petroleum age

Charlie Fairbank, the great grandson of one of the world’s first oilmen, has turned to a century-old technology to keep his 350 Ontario oil wells competitive in a world of $35 crude. More »

Chevron achieves first LNG production at Gorgon

Chevron has started producing LNG and condensate at the Gorgon Project on Barrow Island off the northwest coast of Western Australia. The first LNG cargo is expected to be shipped next week. More »

Brent tops $40 for first time since December on output

Brent crude rose above $40 for the first time since December as major producers prepared to meet to discuss a production freeze and U.S. output finally shows signs of declining. More »

Clinton doubles down against fracing in debate, raising alarms

Hillary Clinton’s promise during a debate Sunday to aggressively regulate fracing deepens the divide between Republican and Democratic presidential candidates on oil and gas development and signifies her continued shift to the left on environmental issues. More »

Pulse Structural Monitoring launches next generation of INTEGRIpod subsea motion, data logging sensor systems

Pulse Structural Monitoring, an Acteon company, has launched a third generation INTEGRIpod platform as a new addition to its INTEGRI range of structural monitoring sensor systems. More »

UK regulator launches exploration license competition

The Oil and Gas Authority—the UK’s industry regulator—has launched a competition linked to future exploration licensing rounds in order to stimulate further offshore oil and gas exploration activity in the United Kingdom Continental Shelf (UKCS). More »

Prosafe awards HB Rentals contract in excess of $1.4 million

Offshore accommodation and workspace specialist HB Rentals has been awarded a contract with Prosafe worth in excess of $1.4 million. More »

Oil price ‘correction’ seen by year-end by U.A.E. energy minister

The United Arab Emirates foresees a “correction” in crude prices by the end of the year, and the OPEC member has yet to receive an invitation to a possible meeting of oil-producing nations seeking to rein in a global supply glut, Energy Minister Suhail Al Mazrouei said. More »

LRE launches new land rig critical equipment survey

A new equipment survey provides a cost effective solution for assessing the integrity of land rigs. It helps operators and rig contractors limit downtime, as well as improve the reliability, safety and environmental impact of drilling programs. It also reduces inspection costs by up to 50%. More »

Statoil terminates contract for COSL semisubmersible

Statoil has, on behalf of the Troll license, decided to exercise its contractual right to terminate the contract with COSL Offshore Management for the chartering of the COSLInnovator semisubmersible. More »

Dorf Ketal expands into upstream market with Flowchem acquisition

Dorf Ketal Chemicals India Private Ltd., a Mumbai-based leader in specialty chemicals, has acquired Flow-Chem Technologies LLC, based in Rayne, La. More »

Lundin drills dry well southwest of Luno II discovery

Lundin Norway, operator of production license 544, is in the process of completing the drilling of wildcat well 16/4-10. The well is dry. More »

Exceed to support Fairfield Energy in North Sea PandA campaign

Well management firm Exceed has secured a contract to support Fairfield Energy Ltd. in its forthcoming North Sea well plugging and abandonment campaign. More »

IWCF launches first free training for basic well control awareness

The International Well Control Forum has launched a global online training course, which will be free to everyone in the industry to increase knowledge around what can cause a well blowout and potential oil spill incident. More »

Premier Oil shares gain on plans to merge North Sea operations

Premier Oil Plc advanced the most in almost three weeks after the North Sea explorer told the Financial Times it’s planning to merge operations with some rivals to cut costs. More »

China's CNPC to cut capex 23%, lower oil output on price crash

China National Petroleum Corp. said it will cut capital spending this year by more than 20% and sees domestic crude production slipping as the country’s biggest oil and gas company looks to shore up profit amid the energy downturn. More »

Oil extends advance above $36 as U.S. explorers idle more rigs

Oil extended gains above $36/bbl as U.S. drillers cut the number of active rigs to the lowest in more than six years amid a global glut. More »

Iranian oil lands in Europe for first time since sanctions ended

The Monte Toledo oil tanker covered the uneventful voyage from Iran to Europe with a haul of one million barrels of crude in just 17 days, but its journey has been four years in the making. More »

Lloyd’s Register Energy, The Well Academy deliver IWCF enhanced renewal training course

The Well Academy and Lloyd’s Register Energy’s Drilling Training Academy have launched their first combined training program; a new IWCF certified enhanced drilling well control training course. More »