Shale explorers boost activity further after OPEC’s ‘lifeline’

Explorers added oil rigs in the U.S. for a sixth consecutive week after OPEC’s pledge to cut output livened up the crude market, allowing producers to lock in higher prices with hedge contracts. More »

North Sea drilling activity plunges to all-time low

The number of rigs drilling for oil and gas in the North Sea, home of the Brent crude benchmark, plunged in September to the lowest in nearly 35 years as companies cut spending to weather low prices. More »

Transocean Winner loaded onto heavy lift ship, UK says

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Frank’s International buys Blackhawk Specialty Tools in $321-million deal

Frank’s International has entered into a definitive merger agreement to acquire Blackhawk Group Holdings, Inc., the ultimate parent company of Blackhawk Specialty Tools, a provider of well construction and well intervention services and products. More »

Suncor Energy closes purchase of interest in Rosebank project

Suncor Energy UK Limited has closed its previously announced purchase of a 30% participating interest in the UK North Sea Rosebank project from OMV (U.K.) Limited. More »

Karoon to explore in Great Australian Bight

Karoon Gas Australia has been awarded a license for exploration permit EPP46. The permit covers 17,793 km2 of Australia’s most active and prospective frontier oil province, the Ceduna sub‐basin, in the Great Australian Bight (GAB), offshore South Australia. More »

As UK gives nod to fracing, a U.S.-style shale boom remains far away

Four wells are better than none if you’re trying to assess whether your country could host the next shale boom—but it’s not nearly enough. More »

Extended reach drilling course launched by RGU, Merlin

Aberdeen's Robert Gordon University (RGU), in conjunction with Merlin ERD Limited, has developed a bespoke training course in extended reach drilling (ERD). More »

Sechin wins as Kremlin approves Rosneft’s $5.3-billion Bashneft deal

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Oil drops as Russia sees no deal with OPEC next week

Oil dropped near $50/bbl after Russia cast doubt over a deal anytime soon with OPEC, following the cartel’s pledge to reduce output. More »

U.S. oil advances above $50/bbl for first time since June

Oil climbed above $50/bbl in New York for the first time since June as declines in U.S. crude inventories and OPEC’s pledge to reduce supply lifted hopes the global glut may clear. More »

Exxon Mobil fined $74 billion by Chad court over royalties

A court in Chad told Exxon Mobil Corp. to pay a record fine of $74 billion, as well as $819 million in royalties it said the oil company owed to the state, according to a court document. More »

Johan Sverdrup shipment arrives at Kvaerner’s Verdal yard

The first of two shipments of pile clusters and flotation tanks have arrived at Kvaerner’s yard in Verdal, Norway. More »

OPEC seen failing to meet supply-cut targets

Gunvor Group, one of the four largest independent oil traders, doesn’t expect oil prices to push much above $5/bbl for the next nine months as OPEC struggles to meet its goals for curbing production. More »

BOEM to strengthen environmental cooperation with Mexico

The U.S. Bureau of Ocean Energy Management (BOEM) and Mexico’s Agency for Safety, Energy and Environment (ASEA) have signed a letter of intent to strengthen cooperation, coordination and information sharing on environmental matters related to offshore hydrocarbon activities in the Gulf of Mexico. More »

Searcher Seismic completes Buscador survey offshore Mexico

Searcher Seismic has completed acquisition of the Buscador Near-Shore 2D Seismic Survey, offshore Mexico. More »

Searcher Seismic completes survey offshore Mexico

Searcher Seismic has completed acquisition of the Buscador Near-Shore 2D Seismic Survey, offshore Mexico. More »

Delaware basin offers operators chance to thrive, IHS Markit says

A handful of dominant oil and gas companies operating in established sub-plays in the Delaware basin are delivering remarkable profitability at current prices thanks, in part, to their early entry and their extensive technical knowledge of the local geology, according to analysis from IHS Markit. More »

Fugro, CGG JV nabs $60-million ADNOC contract

Seabed Geosolutions, a joint venture between Fugro and CGG, has secured a new extension to its ongoing shallow water operations in the United Arab Emirates. More »

Saudi Aramco IPO will offer stake in all of company’s operations

The world’s biggest oil company is planning to sell shares in the entire business and not just in its refining or distribution operations, its CEO said in an interview. More »

Wintershall sells stake in North Sea’s Yme license to OKEA

Wintershall Norge has signed a sales agreement with OKEA, a Norwegian oil company which was established in Trondheim last year, to sell its 10% share in the Yme license on the Norwegian Continental Shelf. More »

Saudis risk more pain from OPEC reversal as rivals ramp up

For OPEC’s production deal to work, it was always clear that Saudi Arabia would need to make sacrifices. The world’s largest oil exporter faces the risk the costs will keep getting bigger. More »

Cuadrilla wins two-year UK frac fight

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GE drones are coming to squeeze more savings from the oil patch

General Electric has a solution for U.S. oil and natural gas explorers struggling to save more money after squeezing drilling costs by more than a third during the past two years. More »

Subsea Services Alliance to develop the first riserless open-water abandonment module

The Subsea Services Alliance, a contractual collaboration between Helix Energy Solutions Group, Inc., and Schlumberger, today announced the launch of the development of the first Riserless Open-water Abandonment Module (ROAM). More »

Oil tankers piling up in North Sea show glut facing OPEC

A pile up of tankers waiting in the North Sea suggests a glut is building again in the market where benchmark crude is traded, highlighting the task facing OPEC as it seeks to rein in a global glut. More »

Encana to boost spending with eye on biggest U.S. oil patch

Encana Corp., one of Canada’s largest energy explorers, is increasing capital spending by as much as 64% as it seeks to pull more crude out of America’s most prolific oil field. More »

GE opens new oil and gas RandD Center in Oklahoma

Providing a present and future glimpse of promising new technologies in the pipeline for the Oil and Gas industry, GE today held the grand opening of its new Oil and Gas Technology Center in Oklahoma City. More »

Oceaneering expands AUV operations into West Africa

Oceaneering International is expanding its presence for autonomous underwater vehicle (AUV) survey services to the West African region. More »

Vallourec merges its two main Brazilian companies

Vallourec announced that it finalized the merger of Vallourec Tubos do Brasil (VBR) and Vallourec and Sumitomo Tubos do Brasil (VSB) on Oct. 1, 2016. More »

Oceaneering expands its AUV operations into West Africa

Oceaneering International, Inc. announced that it is expanding its presence for Autonomous Underwater Vehicle (AUV) survey services to the West African region. More »

Aker Solutions introduces new low-cost platform for marginal fields

Aker Solutions has introduced a new lighter weight semisubmersible platform that will help producers unlock more marginal oil and gas fields in harsh environments across the globe. The platform delivery time has also been reduced. More »

WTI nears $50 after U.S. stockpiles fall for fifth week

Oil climbed, approaching $50/bbl in New York after government data showed that U.S. crude stockpiles dropped last week. More »

GE opens new RandD Center in Oklahoma

Providing a present and future glimpse of promising new technologies in the pipeline for the Oil and Gas industry, GE today held the grand opening of its new Oil and Gas Technology Center in Oklahoma City. More »

CGG acquires Saturno multi-client survey over Santos basin, offshore Brazil

CGG announced the start of a large broadband 3D multi-client survey in the pre-salt area of the deepwater Santos Basin. Santos VII (Saturno) is the third phase in CGG’s most ambitious pre-salt project to date, collectively known as the Santos Basin Trilogy. The project is designed to make ultramodern seismic datasets available as quickly as possible to support each phase in the pre-salt evaluation process in anticipation of Brazil’s next pre-salt licensing round. More »

‘Wall of supply’ to block oil rally at $55, Goldman Sachs says

Oil’s rally will stall at $55/bbl as U.S. shale drillers get back to work and a “wall of supply” from investments made over the past decade hits the market, Goldman Sachs Group said. More »

ConocoPhillips sets Alaska drilling record

ConocoPhillips Alaska Inc. announced that it achieved a drilling record for Alaska at drill site CD5 in the Colville River Unit (Alpine) on Alaska’s North Slope. More »

Resolute Energy in $135-million Delaware basin buy

Resolute Energy Corporation has entered into a definitive agreement with Firewheel Energy, a portfolio company of EnCap Investments, to acquire certain oil and gas properties in Reeves County, Texas, for a purchase price of $135 million. More »

SM Energy closes Permian basin acquisition

SM Energy Company has closed its previously announced acquisition of 24,783 net acres in Howard County, Texas, from Rock Oil Holdings for $980 million, before customary purchase price adjustments. More »

Saudi Aramco cuts pricing for oil sales to Asia as glut persists

Saudi Arabia, the world’s largest crude exporter, cut pricing for November oil sales to Asia and Northwest Europe and for most grades to other regions amid a global supply glut. More »

Trump meets with energy CEOs discouraged by fracing remarks

Energy executives in Denver on Tuesday warned Donald Trump, who has said he supports letting local residents vote on fracing bans, that state regulations are thwarting oil and gas development. More »

Oil major BP buys first Iranian oil since sanctions eased

Iran’s state-owned oil company sold condensate to BP for the first time since sanctions were lifted in January, marking the country’s re-emergence as one of the world’s top suppliers of crude oil and NGLs. More »

Caelus reports 6 Bbbl discovery on Alaska’s North Slope

Caelus Energy Alaska has announced a significant light oil discovery on its Smith Bay state leases on the North Slope of Alaska. More »

Venezuela sees oil output deal cutting 1.2 MMbpd

CARACAS (Bloomberg) -- An agreement among OPEC and non-OPEC states to limit oil production could slash global supply by 1.2 MMbpd and add as much as $15 to prices, said Venezuelan Oil Minister Eulogio Del Pino. More »

Sandvik inaugurates new, fully automated OCTG ultrasonic testing facility

Sandvik is inaugurating a new, state-of-the-art, fully automated ultrasonic testing facility for pipes to the oil and gas industry. More »

BP to buy all LNG from Eni’s proposed Coral South FLNG facility

BP and the Area 4 concession partners—Eni East Africa (EEA), Galp Energia, Kogas and Empresa Nactional de Hidrocarbonetos—have entered into a sales and purchase agreement for BP to purchase 100% of the LNG produced by the EEA-operated Coral South Floating LNG facility, which is expected to be installed offshore Mozambique. More »

Billionaire chairman said to be willing to lend Seadrill $1.2 billion

Seadrill’s billionaire chairman and largest shareholder, John Fredriksen, is willing to lend the rig company as much as $1.2 billion as part of a potential deal with banks and bondholders to restructure the biggest debt load in the offshore-drilling industry, two people familiar with the matter said. More »

OPEC crude output rises to record as Nigeria, Libya boost supply

OPEC crude production rose to a record in September, according to a Bloomberg survey, driven by returning output from Libya and Nigeria, members who will likely be exempt from last week’s deal to cut supply. More »

Vanguard Natural Resources misses $15-million interest payment

The rally in energy prices may not have come soon enough to help some U.S. oil and gas producers, with Vanguard Natural Resources joining the rapidly growing list of companies that can’t pay their debts on time. More »

Aibel wins work on Dvalin development offshore Norway

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Penn West Petroleum names new CEO

Penn West Petroleum said Tuesday that David French will be joining the company as its new president and CEO. French, who will also join the company’s board, succeeds Dave Roberts, who has been in the role since June 2013. More »

TGS completes Gigante seismic survey offshore Mexico

TGS has completed acquisition of its 186,000 km Gigante seismic survey in Mexico. Acquisition of this survey began in June 2015 with five seismic vessels contracted to acquire a dense, modern, long-offset regional 2D seismic grid. More »

Penspen wins contract for work on ADCO’s Bab and Asab fields

Penspen, a provider of engineering and project management services, has signed an agreement with Matrix Construction to provide modification works at Bab and Asab fields, which lie to the west of Abu Dhabi. More »

Aker Solutions wins subsea contracts for DEA’s Dvalin field

DEA Norge has awarded Aker Solutions two contracts, worth at least NOK 900 million ($113 million), to deliver the subsea production system, maintenance and services at the Dvalin natural gas development offshore Norway. More »

Abu Dhabi to combine two offshore units amid price drop

Abu Dhabi National Oil Co. will combine two offshore oil and natural gas ventures operated with partners including BP and Exxon Mobil, as the U.A.E. producer takes measures to cope with the drop in oil prices over the past two years. More »

Iran, OPEC’s big winner, agrees on landmark oil contract

Iran, fresh from an OPEC meeting where it won significant concessions from regional rival Saudi Arabia, accelerated the rejuvenation of its sanctions-ravaged energy industry on Tuesday when the state producer signed a new-model oil investment contract. More »

Weatherford introduces Compact formation sampler

Weatherford has announced the official launch of its Compact formation sampler. The slim-profile wireline tool can capture up to three 700-cc samples in a wide range of borehole sizes. More »

Transocean wins new 15-month contract as Reliance cancels drillship contract

ZUG, Switzerland – Transocean, the world’s largest offshore drilling contractor, has received a 15-month contract with Suncor Energy, the company said Monday. More »

Shale producers hedge 2017 prices in ‘droves’ after OPEC rally

Independent oil companies are using the post-OPEC rally to hedge their price risk for next year, banks and consultants said, a trend that’s likely to be viewed with concern from Saudi Arabia to Venezuela. More »

DEA submits PDO for Dvalin field in the Norwegian Sea

DEA has submitted the Plan for Development and Operation (PDO) for Dvalin field—previously Zidane—to Norway’s Ministry of Petroleum and Energy. Dvalin will be the company’s first operated field development project in Norway. More »

UK’s Oil and Gas Authority established as government company

The Oil and Gas Authority (OGA) has been established as an independent government company by the UK government. This formalizes the transfer of the Secretary of State’s regulatory powers in respect of oil and gas to the OGA, and grants it new powers. More »

Oil trade gives clearest sign yet Nigeria’s Forcados to return

The oil market gave the clearest sign yet that Nigeria’s Forcados crude is about to flow again for the first time in eight months, after Royal Dutch Shell was among companies said to have purchased the grade halted by militant attacks in February. More »

Aker BP to acquire Norwegian licenses from Tullow

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Maersk Supply Service to cut quarter of onshore jobs

Maersk Supply Service is to reduce its onshore organization by up to 25%. The move is in response to market conditions and the company’s vessel divestment plans. More »

SM Energy to divest assets in Williston basin

SM Energy has engaged Petrie Partners to explore the sale of certain leasehold assets in the Williston basin. More »

Denbury Resources promotes Christian S. Kendall to president

Denbury Resources has named Chris Kendall as the company’s new president as part of its ongoing succession planning process. More »

Marathon Oil sells West Texas, New Mexico assets for $235 million

Marathon Oil has signed an agreement for the sale of certain non-operated CO2 and waterflood assets in West Texas and New Mexico for $235 million, excluding closing adjustments. More »

INPEX awards Ichthys LNG contract to Amec Foster Wheeler

INPEX, Japan’s largest EandP company, has awarded Amec Foster Wheeler a consultancy contract for the Ichthys LNG project in Australia. More »

Oil rises to three-month high as investors assess OPEC agreement

Oil climbed to the highest level in three months in New York as traders continued to assess last week’s change in OPEC policy. More »

U.S. drilling rebound plows ahead as oil rigs are added

U.S. oil producers put more rigs back to work, marking the highest level of activity since February as crude markets headed for a second monthly gain. More »