Jones Energy completes Anadarko basin acquisition

Jones Energy, Inc., today announced the closing of its previously announced acquisition of producing and undeveloped oil and gas assets in the Anadarko basin. More »

Saudi Aramco says operating as normal after Yemeni attack report

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Potential rebound to $100 crude could hurt oil industry, Lundin says

Crude could return to $100/bbl because the two-year market downturn has curbed investment, according to Lukas Lundin, a member of Lundin Petroleum AB’s board and chairman of Lundin Mining Corp. More »

Lucas Energy enters into agreement to fund development of Eagle Ford shale assets

Lucas Energy, Inc., has announced that its wholly-owned subsidiary, CATI Operating, LLC, entered into an agreement with its senior lender, as evidenced by a promissory note, to borrow $1 million, effective August 15, 2016. The company plans to use the funds to participate in the drilling and completion of certain Eagle Ford wells. More »

Look past OPEC freeze hype to understand oil’s advance

For all the feverish speculation of OPEC action that’s roiling oil markets, the real reason for crude’s recent recovery probably lies elsewhere. More »

RigNet wins multi-year managed services renewal, including Software as a Service

RigNet has renewed a contract to provide remote communication services and Software as a Service (SaaS) for a global offshore driller’s entire marketable fleet. More »

EMGS reports prefunding for multi-client acquisition in Barents Sea

Electromagnetic Geoservices (EMGS) has entered into a data licensing agreement with a repeat customer for 3D EM data to be acquired over the Hoop area in the Barents Sea. More »

New partnership challenges coal seam gas water reduction methods

Zilift, a developer of permanent magnet technologies for artificial lift applications, has signed an agreement with Auscoil, an oilfield services solutions provider for the Australian Coal Seam Gas (CSG) industry. More »

VAALCO resumes production at Avouma well offshore Gabon

VAALCO Energy said Thursday that the secondary ESP in the Avouma 2-H well on the Avouma platform, offshore Gabon, in the Etame Marin Permit, was recently started and the well is now producing at a stable rate. More »

China’s biggest oil company aims for 50% natural gas by 2020

China’s biggest oil company wants natural gas to account for half its output by the end of the decade. More »

MandAs are back as oil industry shifts from survival to growth

Multi-billion-dollar oil and gas deals are back on the table. More than $11 billion of transactions were announced globally in July as crude’s recovery fueled hopes of a steadier market, Wood Mackenzie said. More »

Jetta, Blackstone eye Delaware basin acquisitions with pure-play partnership

Blackstone has announced the formation of Jetta Permian, a partnership between an affiliate of Jetta Operating Company and funds managed by Blackstone Energy Partners. More »

Guidon Energy, Blackstone partner in Permian basin land grab

Guidon Energy and Blackstone Energy Partners have announced their recently formed platform company in the Midland basin and the acquisition, in April of this year, of approximately 22,000 gross acres (16,000 net acres) in the core of Martin County, Texas. More »

Blackstone unleashes cash hoard in Texas land grab

Blackstone Group is partnering with two oil and gas companies as it targets assets in the sought-after Permian basin. More »

Saudi oil minister sees output freeze as ‘positive’

Saudi Arabia’s energy minister said an oil-output freeze would be "positive" if it happens, while ruling out a cut in production. More »

Mærsk Gallant drills to record depths on Norwegian shelf

With a total depth of 5,941 m, Mærsk Gallant has beaten the record for deepest well ever drilled on the Norwegian continental shelf. More »

Key Energy Services plans bankruptcy filing after reaching debt pact

Key Energy Services plans to file for bankruptcy protection by November after its creditors sign off on a restructuring plan that would give bondholders control of the Texas company. More »

Israel announces first offshore energy exploration licensing round, IHS Markit says

The Israeli Ministry of Infrastructures, Energy and Water Resources (MIEWR), the government agency responsible for overseeing all petroleum-related activities in Israel, plans to host a road show in September 2016 for promotion of the country’s first offshore energy licensing round, IHS Energy said today. More »

Iraq seeks formal deal with Kurds to protect new oil exports

Iraq’s resumption last week of oil shipments through a Kurdish-controlled pipeline bumped up its export capacity by 5% almost overnight. More »

Iran’s oil minister will join OPEC talks on market in Algeria

Iran’s Oil Minister Bijan Namdar Zanganeh will participate in an informal meeting of OPEC members next month in Algiers, a state news service reported. More »

Statoil secures lifetime extension for Gullfaks B

The Norwegian Petroleum Directorate (NPD) has given the go-ahead for using the B platform on Gullfaks field in the North Sea until Jan. 1, 2036, which corresponds to the length of the production license. More »

Lower for longer oil price outlook drives global change in tax structures: EY

A lower for longer oil price consensus is pushing more governments to rethink current tax structures and follow the example of those who have already made adjustments, EY said while launching its 2016 Global oil and gas tax guide. More »

China oil giants unmoved by bull rally after worst earnings

After posting their worst-ever half-year results, two of China’s oil giants aren’t getting carried away by crude’s return to a bull market, forecasting a rocky path ahead. More »

Saudi Arabia holds China market share lead on record oil output

Saudi Arabia kept its spot as China’s biggest oil supplier for the first seven months this year after pumping record output in July, even as Russia threatens to overtake the kingdom in their contest for sales to the world’s largest energy consumer. More »

Hansa Heavy Lift transports giant pipe racks for new FPSO

Hansa Heavy Lift has transported five pipe racks and three modules, weighing a total of 1,871.51 metric tonnes and measuring 24,075 m³, for a new floating production storage and offloading (FPSO) unit off the coast of Brazil. More »

Fram C East satellite starts production to Troll C platform

Statoil has started production from the Fram C East satellite development offshore Norway. The development is targeting recoverable resources estimated at 18.2 MMbbl of oil and 1.6 Bcm of gas. More »

Fram C East starts production to Troll C platform, Statoil says

Statoil has started production from the Fram C East satellite development offshore Norway. The development is targeting recoverable resources estimated at 18.2 MMbbl of oil and 1.6 Bcm of gas. More »

Seadrill profit beats estimates as debt restructuring looms

Seadrill, the offshore drilling company controlled by billionaire John Fredriksen, beat earnings estimates after slashing costs while continuing talks with creditors. More »

CEO of legendary trader Phibro recommends shorting crude at $50

It’s almost time to short this year’s crude rally, according to the new CEO of Phibro LLC, the century-old commodities firm that was once the largest independent oil refiner in the U.S. More »

Sanchez Energy said to seek buyers for part of Eagle Ford acreage

Sanchez Energy Corp. is seeking buyers for some of its acreage in the Eagle Ford shale in south Texas, according to people familiar with the matter, as the explorer looks to raise cash for developing its best prospects. More »

West Orphan basin, offshore NL, holds 25.5 Bbbl of oil and 20.6 Tcfg, study finds

The government of Newfoundland and Labrador, Nalcor Energy and Beicip-Franlab announced Wednesday that the in place oil and gas resource potential is 25.5 Bbbl of oil and 20.6 Tcfg in the West Orphan basin located within the area of the Canada-Newfoundland and Labrador Offshore Petroleum Board (C-NLOPB) 2016 Eastern Newfoundland Call for Bids. More »

Gulf of Mexico Lease Sale 248 yields just $18 million in high bids

NEW ORLEANS, Louisiana – The U.S. Bureau of Ocean Energy Management (BOEM) said Wednesday that Lease Sale 248 garnered $18,067,020 in high bids for 24 tracts covering 138,240 acres in the Western Gulf of Mexico Planning Area. More »

Oil extends decline as EIA report shows inventory increase

Oil extended its decline after a government report showed that U.S. crude stockpiles unexpectedly rose last week. More »

Oil drops as industry data signal U.S. crude stockpiles rising

Oil resumed its drop after industry data showed U.S. stockpiles rose, keeping inventories at the highest seasonal level in at least 30 years as peak summer demand in the world’s largest consumer of the fuel nears its end. More »

Blackeagle Energy Services acquires Brazos Rock's Permian basin assets

Blackeagle Energy Services, a provider of energy-related construction and maintenance services, has acquired certain Permian basin assets from Brazos Rock, Inc., a provider of oilfield construction services in Texas. More »

RasGas delivers first LNG to FSRU Toscana offshore Italy

RasGas has shipped its first LNG cargo to the floating storage regasification unit (FSRU) Toscana, located offshore Italy. More »

Sparrows Group, SapuraKencana Petroleum to form partnership in Malaysia

Sparrows Group is set to expand its presence in the Asian Pacific market following the formation of a partnership between Sparrows Offshore Services Pte Ltd and SapuraKencana Technology Sdn Bhd, the latter being a wholly owned subsidiary of SapuraKencana Petroleum Berhad. More »

Claxton completes well abandonment of Horne and Wren platform for Tullow

Claxton, an Acteon company, has completed its involvement in the abandonment of two wells on the Horne and Wren platform in the Southern North Sea. More »

Iran says it hasn’t decided on attending OPEC talks in Algiers

TEHRAN (Bloomberg) -- Iran says it still hasn’t decided whether it will attend informal OPEC talks in Algiers next month, two weeks after the group announced plans to meet. More »

Shale land grab tops mergers as buyers await better oil outlook

The buyer’s market that the battered U.S. shale patch has become is so far luring more land purchases than takeovers as investors await a more solid crude price rebound before making bigger moves. More »

OPEC chief said to visit Iran and Qatar before group’s talks

OPEC’s secretary-general will visit members Iran and Qatar next month, just weeks before the group holds informal talks in Algeria, according to a person with direct knowledge of the matter. More »

PDC Energy enters Delaware basin with $1.5-billion acquisition

PDC Energy has entered into definitive agreements to acquire two privately held companies managed by Kimmeridge Energy Management Company for approximately $1.5 billion. More »

Transocean Winner refloated and under tow after running aground

The Transocean Winner drilling rig that ran aground in bad weather on the Isle of Lewis nearly two weeks ago has been successfully refloated and stabilized, and is now under tow to safer waters. More »

U.S. Silica completes acquisition of Sandbox Enterprises

U.S. Silica Holdings, Inc., has announced that it has completed the acquisition of Sandbox Enterprises LLC, a leading provider of innovative logistics solutions and technology for the transportation of proppant. More »

Transocean Winner drilling rig refloated and under tow after running aground

The Transocean Winner drilling rig that ran aground in bad weather on the Isle of Lewis nearly two weeks ago has been successfully refloated and stabilized, and is now under tow to safer waters. More »

Anadarko announces leadership changes

Anadarko Petroleum Corporation has announced that Darrell Hollek, formerly executive V.P., U.S. onshore EandP, has been named executive V.P., operations, with responsibility for the company's U.S. onshore exploration, production and midstream activities, along with its Gulf of Mexico and international operations. The company also announced Ernie Leyendecker, formerly senior V.P., international exploration, has been named executive V.P., international and deepwater exploration. More »

Packers Plus optimizes offshore multi-stage completion for Dubai Petroleum Establishment

Packers Plus Energy Services Inc. has announced that it has recently worked with operator Dubai Petroleum Establishment to install and successfully stimulate an offshore carbonate reservoir using an open hole multi-stage ball-drop system. More »

Stone Energy in talks to sell Appalachian assets to cut debt

Stone Energy Corp., an oil and natural gas producer that’s been in debt restructuring talks with note holders, said it’s negotiating to sell its Appalachian assets in a deal that could fetch $350 million. More »

Iran set to grant two key oil deals to CNPC, Sinopec

Iran plans to grant the development of two major oil fields to CNPC and Sinopec, according to a statement by the National Iranian Oil Company (NIOC). More »

Oil reverses drop on report Iran may support OPEC output action

Oil rose, reversing an earlier decline, on speculation Iran may be more willing to cooperate with other producers seeking to freeze output. More »

Statoil eyes drilling as it takes over operatorship of UK license P.2170

Statoil has signed a Sales and Purchase Agreement with Jersey Oil and Gas and CIECO Exploration and Production (UK) Limited to acquire 70% ownership and operatorship of the P.2170 license on the UK Continental Shelf (UKCS). More »

OFS Portal accelerates eCommerce growth with more operator agreements

OFS Portal has surpassed its 250th Operator Agreement. White Rock Oil and Gas, Lime Rock Resources Operating Company, MRC Global (US), RSP Permian, Memorial Production Operating, and Fleur de Lis Energy each signed the OFS Portal Electronic Data Agreement, increasing the number of operators in the community to 256. Petrobids became the 33rd approved network in the OFS Portal community by signing the RFx agreement. More »

Maersk Supply Service sells two vessels

Maersk Supply Service has sold two vessels, Maersk Puncher and Maersk Provider, as part of the company’s recently announced divestment plans. More »

Iraq looks to boost oil output before OPEC talks in Algeria

Iraq asked international oil companies to boost output just as other OPEC nations are heading for talks amid a global glut. More »

Pemex cancels contract for Seadrill’s West Pegasus semisubmersible

Seadrill has received a notice of termination from Pemex Exploracion y Servicios for the West Pegasus drilling contract effective Aug. 16. Seadrill has disputed the grounds for termination and is reviewing its legal options, the company said in a statement announcing the cancellation. More »

Cathelco to supply MGPS for Lamprell’s latest jackup

Cathelco will be providing a marine growth prevention system (MGPS) for the latest in a series of jackup rigs to be built by Lamprell, the UAE-based provider of fabrication, engineering and contracting services to the offshore and onshore oil and gas and renewable energy industries. More »

Peak to test SIMULTRA retrievable bridge plug at 10,000 psi, 175°C

Peak Well Systems, a specialist in the design and development of advanced downhole tools for well intervention, has been commissioned by an international oil company to undertake gas testing of both the 4 ½-in. and 5 ½-in. SIMULTRA Retrievable Bridge Plug at a 10,000 psi and 175°C specification. More »

Peak Well Systems to test SIMULTRA Retrievable Bridge Plug at 10,000psi, 175°C

Peak Well Systems, a specialist in the design and development of advanced downhole tools for well intervention, has been commissioned by an international oil company to undertake gas testing of both the 4 ½-in. and 5 ½-in. SIMULTRA Retrievable Bridge Plug at a 10,000 psi and 175°C specification. More »

AGR names new lead for UK consultancy business

AGR has appointed Steve Combe to manage its Aberdeen-based manpower consultancy business. More »

GE to support ONGC’s exploratory campaign offshore India

GE Oil and Gas has been awarded a multi-million-dollar Frame Agreement by Oil and Natural Gas Corporation Limited (ONGC), India’s largest EandP company. Under the agreement, GE will provide an estimated 55 subsea wellheads (SG5) over next three years for the operator’s offshore drilling campaign, in shallow to medium waters offshore India. More »

Oil Search says second PNG greenfield project may not proceed

Oil Search Ltd. said development of a second standalone LNG export terminal in Papua New Guinea is unlikely with Exxon Mobil Corp. and Total SA expected to favor cooperation to expand the existing PNG LNG project. More »

Goldman sees possible OPEC output freeze as self-defeating

OPEC and some producers from outside the group may agree to freeze output during informal talks next month, which could prove “self-defeating” because it would benefit other suppliers, according to Goldman Sachs Group Inc. More »

Oil ends longest gain in 4 years on Nigeria, Iraq supply boost

Oil retreated, halting the longest run of gains in four years as Iraq sought to increase exports amid a global oversupply and Nigerian militants called an end to hostilities. More »

ROVOP to create new jobs as a result of GoM business growth

Independent ROV service provider ROVOP is set to increase its Houston workforce as a result of further business growth including recent contract wins in the Gulf of Mexico region. More »

Pemex cancels contract for Seadrill’s West Pegasus jackup

Seadrill has received a notice of termination from Pemex Exploracion y Servicios for the West Pegasus drilling contract effective Aug. 16. Seadrill has disputed the grounds for termination and is reviewing its legal options, the company said in a statement announcing the cancellation. More »

Add Energy launches new advisory service

Add Energy, an international oil and gas upstream consultancy provider, has expanded its operations with the launch of a new advisory service, ADDvisor. More »

2016 on pace for worst EandP year since Great Depression, but improvement seen

According to the latest mid-year forecast assembled by World Oil magazine, only 14,430 wells will be drilled in the U.S. this year, on par with the years 1930-1934, when not a single year topped 20,000 wells drilled. In fact, this will be lowest total since 11,700 wells were drilled in 1933. More »

Zenith Energy completes first offshore abandonment project

An Aberdeen-based well management firm has successfully completed the plug and abandonment of a platform well located offshore Italy. More »

Marathon Oil announces leadership shake-up

Marathon Oil Corporation has promoted T. Mitch Little to executive V.P., Operations. In this new role, Little will oversee the company’s Resource Play and Conventional businesses. More »

Petronas posts 96% quarterly profit decline on lower oil prices

Petroliam Nasional Bhd., Malaysia’s state oil company, said profit dropped 96% last quarter after it was hit by oil prices that remained sharply lower than a year earlier. More »

Iraq will boost oil exports after agreement on Kirkuk fields

Iraq, OPEC’s second-biggest producer, will increase crude exports by about 5% in the next few days after an agreement to resume shipments from three oil fields in Kirkuk. More »

‘Well-timed’ OPEC talk forces oil bears into record reversal

OPEC has done it again. Talk of a potential deal to freeze output helped push oil close to $50/bbl and prompted money managers to cut bets on falling prices by the most ever. More »