Schlumberger acquires UK-based Meta Downhole Limited

Schlumberger today announced the acquisition of Meta Downhole Limited, a UK-based engineering and service company that offers technology and expertise to provide downhole, metal-to-metal isolation solutions in well integrity applications. More »

U.S. drillers return to parking oil rigs as supplies build

Explorers once again idled drilling rigs in U.S. oil fields as crude inventories continue climbing, boosted by a surge in imports. More »

Schlumberger acquires Meta Downhole Limited

Schlumberger today announced the acquisition of Meta Downhole Limited, a UK-based engineering and service company that offers technology and expertise to provide downhole, metal-to-metal isolation solutions in well integrity applications. More »

U.S. oil explorers park more rigs as inventories build

Explorers once again idled drilling rigs in U.S. oilfields as crude inventories continue climbing, boosted by a surge in imports. More »

Covey Park buys Haynesville, Bossier shale assets in $420-million deal

Covey Park Gas LLC, a subsidiary of Dallas, Texas-based independent oil and gas company Covey Park Energy LLC, has entered into a Purchase and Sale Agreement with subsidiaries of EP Energy Corporation to purchase all of EP Energy’s assets in the Haynesville and Bossier shales. More »

Oil extends declines as rising U.S. stockpiles expand glut

Oil extended its decline after the biggest loss in six weeks, as rising U.S. crude stockpiles kept supplies at the highest level in more than eight decades. More »

New Mexico service company to pay $1.5 million in wages, damages

Nova Mud Inc., Nova Hardbanding LLC and Nova Sand LLC have paid $1.5 million—$750,000 in back wages and an additional, equal amount in liquidated damages—to 241 oil well service workers after an investigation by the U.S. Department of Labor’s Wage and Hour Division. More »

PetroChina cuts output for first time in 17 years

As oil’s collapse leaves some fields with no chance to turn a profit, China’s biggest producer is ready to cut its losses. More »

Covey Park acquires Haynesville, Bossier assets from EP Energy

Covey Park Gas LLC, a subsidiary of Dallas, Texas-based independent oil and gas company Covey Park Energy LLC, has entered into a Purchase and Sale Agreement with subsidiaries of EP Energy Corporation to purchase all of EP Energy’s assets in the Haynesville and Bossier shales. More »

OFSCap acquires The Oil and Gas Asset Clearinghouse

OFSCap, LLC, today announced that its affiliate, OFSCap Acquisition, LLC, has acquired The Oil and Gas Asset Clearinghouse from CenterGate Capital. More »

U.S. Labor Department updates rules on ‘respirable’ silica dust

The U.S. Department of Labor’s Occupational Safety and Health Administration today announced a final rule to improve protections for workers exposed to respirable silica dust. More »

Gulf of Mexico lease sale yields $156 million in high bids in Central Planning Area

This week's oil and gas lease sales in the Gulf of Mexico garnered $156 million in high bids for 128 tracts covering 693,962 acres in the Central Planning Area of the Outer Continental Shelf offshore Louisiana, Mississippi and Alabama. More »

NCS Multistage reveals management changes

NCS Multistage has announced that Robert Nipper, CEO since the company's founding, has been named executive chairman of the board. More »

Death of LNG projects seen kindling market revival from rout

The demise of LNG projects such as Woodside Petroleum Ltd.’s planned $40-billion Browse facility due to a plunge in energy prices is probably what will lift the market out of its current rut. More »

Aquatic expands Americas presence with new appointments

Aquatic Engineering and Construction, an Acteon company, has expanded its team in Houston. More »

Rockefellers dump Exxon holdings that made family's fortune

Descendants of John D. Rockefeller sold their Exxon Mobil Corp. stock and plan to dump all other fossil-fuel investments in the latest move against the industry that made their fortune. More »

Cnooc beats estimates as spending cuts cushion crude crash

Cnooc Ltd., China’s biggest offshore oil and gas explorer, posted annual profit that exceeded analyst estimates as cost cuts countered a decline in energy prices. More »

Schlumberger Introduces real-time downhole flow measurement service

Schlumberger has introduced the ACTive Q CT real-time downhole flow measurement service, which delivers real-time injection diagnostics and treatment evaluation in just one run in a well. More »

Oil price declines as U.S. crude stockpile gain adds to glut

Oil maintained its decline after a U.S. government report showed rising crude stockpiles kept supplies at the highest level in more than eight decades. More »

Frames opens new office in Dubai

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Russia’s only producing oil field on Arctic shelf produces 10-millionth barrel

March saw the 10-millionth barrel of oil produced at Prirazlomnoye oil field—located on the Russian Arctic Shelf in the Pechora Sea and currently under development by Gazpromneft Shelf. More »

American Energy - Permian Basin, LLC changes name, transitions to stand-alone company

American Energy - Permian Basin, LLC and its parent, American Energy Permian Holdings, LLC, have announced the renaming of the companies to Permian Resources, LLC and Permian Resources Holdings, LLC, respectively, consistent with plans to transition to a stand-alone company, fully independent of the broader American Energy Partners, LP platform. More »

Seadrill extends drillship contract on lower day rate

Seadrill has been awarded an 18-month contract extension for the West Tellus drillship by Petrobras, commencing in April 2018 and securing work for the unit through the end of October 2019. More »

Marsol International secures two contracts in Oman

Marsol International, a United Arab Emirates-based marine solutions provider focused on the offshore oil terminal market and related infrastructure, has been awarded two contracts in Oman. More »

Oil security seen at risk by IEA on ‘historic’ spending cuts

An oil shock may be lurking around the corner as the price bust has hammered investment in future supply, according to the International Energy Agency. More »

Total opposed to Halliburton-Baker Hughes deal

Halliburton Co.’s bid to buy oil-services rival Baker Hughes Inc. was opposed by the world’s fifth-largest producer Tuesday, a day after being stalled by European regulators. More »

Woodside halts Browse LNG project on price plunge

The participants in the Browse LNG project will not proceed with the development at this time given the current economic and market environment, operator Woodside said Wednesday. More »

READ launches new logging technology

Investors of Aberdeen-based well intervention specialist READ Cased Hole welcome continued growth of their portfolio company as it takes its latest logging technology, ZeroTime to launch at the SPE ICoTA Coiled Tubing and Well Intervention Conference and Exhibition in Houston. More »

Liebherr to deliver crane for Lukoil's Caspian Sea operations

Liebherr-Russland and Lukoil-Nizhnevolzhskneft have signed a new contract for the delivery of a Liebherr RL 1500-30 EX Litronic offshore crane, which is to start operation on a satellite platform at Ju. Korchagin oil and gas-condensate field in the Russian part of the Caspian Sea by the end of 2016. More »

Petrobras record loss shocks analysts as oil rout bites

Petroleo Brasileiro SA, the oil producer at the center of Brazil’s largest corruption scandal, reported a record loss that surprised analysts and sent shares lower. More »

NOV considering billion-dollar MandA amid oil slump

After slowing down its MandA machine considerably over the past two years, National Oilwell Varco Inc. (NOV) is looking at acquisitions in the billion-dollar range. More »

Halliburton introduces Spectrum Real-Time Coiled Tubing Services

Halliburton’s Production Solutions business line has introduced Spectrum Real-Time Coiled Tubing Services. This suite of services is designed to deliver more accurate, more complete downhole measurements and exceptional reliability. More »

Wood Group Intetech grows Malaysia team

Wood Group Intetech (WGI), an asset integrity specialist, is growing in Malaysia in response to heightened demand for its services. More »

Sparrows Group wins Statoil Mariner contract

Sparrows Group has secured an initial five-year contract to deliver cranes and maintenance services at one of the North Sea’s largest new developments in over a decade. More »

OPEC sees moderate oil bounce even if Iran won't join freeze

OPEC expects oil prices to rebound to a “moderate” level even if Iran doesn’t join other producers in an agreement to freeze production. More »

Transocean, Schlumberger see oil industry recovery delayed

Leaders of the world’s largest suppliers of offshore drilling rigs and the services that go with them see the oil market recovery taking even longer than expected last year. More »

Suncor completes Canadian Oil Sands acquisition

Suncor's acquisition of Canadian Oil Sands (COS) has been completed following shareholder approval of an amalgamation agreement at a special meeting of COS shareholders. More »

Oceaneering names Boyle as senior V.P. of asset integrity

Oceaneering International has announced the appointment of William (Bill) J. Boyle as senior V.P. of asset integrity. More »

Unimin Energy Solutions launches UNIFRAC DUSTSHIELD

Unimin Energy Solutions has announced the launch of UNIFRAC DUSTSHIELD hydraulic fracturing sands—a new coated sand product utilizing dust suppression technology developed to reduce job/well-site exposure to respirable crystalline silica. More »

Eni CEO sees ‘some recovery’ in oil market as supply shrinks

Eni SpA, Italy’s largest energy producer, sees “some recovery” in the global oil market as demand increases and supply declines, according to CEO Claudio Descalzi. More »

Drillers can't replace lost output as $100 oil inheritance spent

For oil companies, the legacy of $100 crude is starting to run dry. More »

BSEE assists in opening oil spill response test burn tank

The Bureau of Safety and Environmental Enforcement (BSEE) helped oversee and execute a series of test in situ burns​​ in the newly opened burn tank at the Joint Maritime Test Detachment in Mobile, Ala. More »

Saudi Aramco sees oil rising as demand catches up with supply

Oil prices will increase by the end of this year but won’t rebound to levels reached in 2013 and 2014, according to Amin H. Nasser, president and CEO of Saudi Arabian Oil Co. More »

Trelleborg seawater intake hoses meet demands of FLNG applications

Trelleborg’s oil and marine hoses operation has launched a dedicated seawater intake hose engineered specifically to meet the unique requirements of FLNG extraction facilities. More »

First Chevron Gorgon LNG cargo sets sail for Japan

Chevron Corporation’s first shipment of LNG from the Gorgon project has departed Barrow Island off the northwest coast of Western Australia. More »

‘Missing barrels’ don't explain oil rally, says Morgan Stanley

The 800,000 bpd of crude production unaccounted for in the International Energy Agency’s estimates of oil supply and demand for last year are a “poor explanation” for the recent rally in prices, according to Morgan Stanley. More »

Total, CNPC sign strategic cooperation agreement in Beijing

Patrick Pouyanné, chairman and CEO of Total, and Wang Yilin, chairman of China National Petroleum Company (CNPC), have signed a strategic cooperation agreement to extend existing collaboration between their respective companies. More »

Penn West to sell Slave Point acreage in Alberta for $148 million

Penn West Petroleum has entered into a definitive agreement for the sale of its properties in the Slave Point area of Northern Alberta for a cash consideration of $148 million. More »

North Sea efficiency drive sees online trading platform kick off

The Efficiency Task Force (ETF)—a group set up to drive a pan-industry improvement in efficiency—has started a trial which will see five operators share 200,000 inventory items on an online trading platform. More »

OMV, Oxy sign technical evaluation agreement with ADNOC

The Abu Dhabi National Oil Company (ADNOC), OMV, and Occidental Petroleum have signed a contract covering several undeveloped oil and gas fields offshore Abu Dhabi, including the Ghasha and Hail areas. More »

Nexen gains accreditation for best practice competency system

One of the UK’s largest oil producer’s employee development and competency system has been recognized as amongst the best in the world after it secured approval from industry skills organization OPITO. More »

Weatherford adds Dr. Mario Ruscev to senior management group

Dr. Mario Ruscev is joining Weatherford International as a senior operating executive reporting directly to the CEO, the company said Monday. More »

Halliburton-Baker Hughes faces third EU delay over missing info

BRUSSELS -- Halliburton Co.’s bid to buy oil-services rival Baker Hughes Inc. was stalled for a third time by European Union regulators who said the companies have once again failed to supply key information about their proposed deal. More »

Oil drops a second day as U.S. rig-count decline halts amid glut

Oil fell for a second day in New York, extending declines from a three-month high, as the number of drilling rigs active in the U.S. rose for the first time in three months amid a global glut. More »

Why the global oil glut might not fill swimming pools after all

One of the warning lights that there’s too much oil around is no longer flashing, adding to signs that global crude markets are finally on the mend. More »

U.S. Steel to idle two plants, cut up to 770 jobs amid oil price rout

U.S. Steel Corp., the country’s second-biggest producer of the metal, said it will dismiss as many as 770 workers and idle two plants that make products used in oil drilling as energy companies cut production. More »