More Oil & Gas Drilling and Production News

EIA: Brent crude oil price stability continues

Sep 1, 2014

Spot prices of Brent crude oil averaged $107/bbl in July, marking the 13th consecutive month in which the average price has ranged $107-112/bbl.

Gazprom Neft starts exploratory drilling in Iraq's Kurdistan region

Sep 1, 2014

JSC Gazprom Neft has commenced with exploratory drilling on the Shakal block in the southwest part of Iraq's Kurdistan region.

BLM announces California oil, gas strategy as CCST issues report

Aug 29, 2014

The US Bureau of Land Management’s California state office announced a comprehensive strategy for its oil and gas program in the state after receiving an independent review of well stimulation technologies it asked the California Council on Science and Technology (CCST) to conduct in September 2013.

BHI: US rig count recoups last week’s losses, jumps to 1,914

Aug 29, 2014

The US drilling rig count jumped 18 units to reach 1,914 rigs working, gaining back the 17 units it lost last week plus one, during the week ended Aug. 29, Baker Hughes Inc. reported.

VAALCO updates operations offshore Gabon

Aug 29, 2014

VAALCO Energy Inc. provided an update on its operations offshore Gabon.

India’s ONGC to invest in Daman development in Arabian Sea

Aug 29, 2014

India’s Oil & Natural Gas Corp. will invest $864.5 million to enhance natural gas and condensate production from its Tapti Daman block in the Arabian Sea.

Nexen boosts CNOOC’s first-half production

Aug 29, 2014

Nexen Energy ULC contributed 36.3 million boe during this year’s first half to CNOOC Ltd.’s total net oil and gas production of 211.6 million boe, a 6.8% year-over-year increase, the company reported. In comparison, Nexen produced 24.8 million boe in its first few months under CNOOC control during last year’s first half.

Petronas, YPF sign $550 million development deal for Vaca Muerta

Aug 28, 2014

Malaysia’s state-run Petronas signed a $550 million agreement with YPF SA, Buenos Aires, on Aug. 28 in Kuala Lumpur detailing terms and conditions for the development of oil from the giant Vaca Muerta shale in Argentina’s Neuquen province.

Fitch: Drilling downturn might prompt some consolidation

Aug 28, 2014

A cyclical downturn in offshore drilling might provide an opportunity for driller contractors having financial flexibility to buy their peers at favorable prices, Fitch Ratings of Chicago said in a recent research note, adding that master limited partnerships (MLPs) in particular can provide financial flexibility.

CNRL files OSCA application with AER for Grouse oil sands project

Aug 27, 2014

Canadian Natural Resources Ltd. has submitted an Oil Sands Conservation Act application with Alberta Energy Regulator for its Grouse steam-assisted gravity drainage (SAGD) project.

Petrobras eyes Lapa field pipeline-heating

Aug 26, 2014

Petroleo Brasileiro SA (Petrobras) will evaluate pipeline-heating systems for use in development of deepwater Lapa oil field in the Santos basin offshore Brazil.

Statoil: Aasta Hansteen gas development on schedule for 2017

Aug 26, 2014

The Aasta Hansteen gas development in the northern Norwegian Sea is on schedule for production start-up in third quarter 2017, reported operator Statoil ASA.

Watching Government: Michigan quietly adjusts rules

Aug 25, 2014

Michigan's Department of Environmental Quality (DEQ) is moving ahead with development of new hydraulic fracturing rules.

CERI: Market access key to Canadian bitumen output

Aug 25, 2014

Outcomes in two areas of critical uncertainty can mean a difference in Canadian bitumen production in 2030 of 1.7-1.8 million b/d, according to a study published by the Canadian Energy Research Institute.

CNOOC starts up oil field in Pearl River Mouth basin

Aug 25, 2014

CNOOC Ltd. reported that its Wenchang 13-6 oil field has started production. The field, which lies in 120 m of water west of the Pearl River Mouth basin, is part of the Wenchang oil fields and shares existing adjacent facilities for the development.

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