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Hair-trigger supply a new challenge of managing oil assets

Fri, Apr 24, 2015

Reluctance by Saudi Arabia to cut production in defense of the crude price reflects important new realities of the oil market.

EIA: Eagle Ford’s Eagleville oil field largest in US

Fri, Apr 24, 2015

The Eagleville oil field in South Texas, discovered only in 2009, is the largest in the US, according to a supplement to a report from the US Energy Information Administration called “US Crude Oil and Natural Gas Proved Reserves, 2013.”

BHI: US rig count drops 22 units in 20th straight week of losses

Fri, Apr 24, 2015

The US drilling rig count fell 22 units to 932 rigs working during the week ended Apr. 24, marking the 20th consecutive week of declines, according to data from Baker Hughes Inc.

Odyssey Pipeline transports production from Delta House

Fri, Apr 24, 2015

A joint venture of Shell Pipeline Co. LP and Genesis Energy LP reported that its Odyssey Pipeline System transported the first crude oil production from the Delta House platform in the Mississippi Canyon protraction area of the Gulf of Mexico.

USGS report aims to improve quake prediction from induced seismicity

Fri, Apr 24, 2015

The US Geological Survey issued a report with preliminary outlines of models to predict severity of ground tremors in areas where sharp seismicity increases have been reported. It said the models ultimately aim to calculate how often earthquakes are expected to occur in the next year, and how hard the ground will likely shake as a result.

SandRidge names senior vice-president, production

Fri, Apr 24, 2015

SandRidge Energy Inc., Oklahoma City, has appointed John Suter as senior vice-president, production, effective Apr. 27. Most recently, Suter worked at American Energy Partners LP, serving as vice-president of the Woodford business unit since 2013.

Antin Infrastructure Partners buys BP’s interest in CATS

Fri, Apr 24, 2015

Antin Infrastructure Partners SAS, Paris, has agreed to acquire BP PLC’s Central Area Transmission System (CATS) business in the UK North Sea for $486 million. The deal is expected to close before yearend.

Ichthys begins CPF, FPSO module lifts

Fri, Apr 24, 2015

Contractors for the Ichthys fields in the Browse basin have completed the first topside module lifts onto the central processing facility and the floating production, storage, and offloading facility.

Shintech lets contracts for Louisiana ethylene plant

Fri, Apr 24, 2015

Shintech Inc., the US subsidiary of Shin-Etsu Chemical Co. Ltd., Tokyo, through a contractor, has let a series of contracts to CB&I, Houston, to provide technology licensing as well as equipment and construction work for its newly announced grassroots ethylene production plant in Louisiana’s Iberville Parish.

MARKET WATCH: NYMEX, Brent crude oil prices reach 2015 highs on Yemen strife

Fri, Apr 24, 2015

Crude oil futures found support on both New York and London markets in Apr. 23 trading on news of more airstrikes against rebels in Yemen by Saudi Arabia, renewing concerns about a possible disruption in Middle Eastern oil shipments.

MOL agrees to buy Ithaca Petroleum Norge

Fri, Apr 24, 2015

MOL Group has committed to drill three exploration wells offshore Norway during 2015-16 under an agreement to buy Ithaca Petroleum Norge from Ithaca Petroleum Ltd., part of Ithaca Energy, for $600 million.

Congressional Republicans see undue restrictions in 2017-22 OCS draft

Thu, Apr 23, 2015

Congressional Republicans—led by Senate Energy and Natural Resources Committee Chair Lisa Murkowski (Alas.) and House Natural Resources Committee Chair Rob Bishop (Utah)—urged US Interior Sec. Sally Jewell to offer more tracts in currently open US Outer Continental Shelf areas and begin leasing in areas now off-limits under the next 5-year OCS program.

CERAWeek: Evolutions of Pemex, YPF running parallel

Thu, Apr 23, 2015

Chief executives of Mexico’s Petroleos Mexicanos (Pemex) and Argentina’s YPF SA are both seeing energy reforms within their respective countries, and both emphasize the need for investment from international oil and gas companies to achieve their new goals.

Diligence essential to avoid future offshore mistakes, panel told

Thu, Apr 23, 2015

The offshore oil and gas industry—as well as the federal agencies that regulate it—must remain diligent to avoid the mistakes that led up to the Macondo deepwater well blowout and crude oil spill 5 years ago, witnesses told the US House Natural Resources Committee.

Shintech advances plan for ethylene plant in Louisiana

Thu, Apr 23, 2015

Shintech Inc., the US subsidiary of Shin-Etsu Chemical Co. Ltd., Tokyo, is moving forward with its plan to build a grassroots ethylene production plant in Louisiana’s Iberville Parish.

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