More Oil & Gas Drilling and Production News

OTC: Shell determined to proceed with drilling in US Arctic

May 6, 2015

Despite numerous regulatory hurdles and impassioned resistance from environmentalists, Royal Dutch Shell PLC maintains that it is on track to drill two wells in the Chukchi Sea during drilling season this summer.

OTC: IHS’s Fryklund: Deepwater will be vital to maintaining global supply

May 5, 2015

A major challenge ahead for the offshore oil and gas industry will be figuring out how to fill the 50 million-b/d gap in liquids production that will be needed to match rising demand by 2040, IHS Energy Chief Upstream Strategist Bob Fryklund told attendees May 4 at the Offshore Technology Conference in Houston.

Wintershall submits development plan for Maria field offshore Norway

May 5, 2015

Wintershall Holding GMBH submitted a plan for development and operation (PDO) for Maria field in the Norwegian Sea to the Norwegian Ministry of Petroleum and Energy.

OTC: Brazil’s 13th bid round will be concession model, energy minister says

May 5, 2015

Brazil will use a concession model rather than a production-sharing model in the country’s 13th bid round later this year. The 269 blocks to be auctioned in the fourth quarter are outside of the presalt area and can be explored by any operator without a Brazilian partner, said Eduardo Braga, Brazil’s minister of mining and energy.

EOG Resources posts $170-million 1Q net loss

May 4, 2015

EOG Resources Inc., Houston, reported a first-quarter net loss of $169.7 million, down from net income of $660.9 million during first-quarter 2014.

GUIDE TO WORLD CRUDES: BG Group assays Brazilian Iracema crude

May 4, 2015

BG Group published a crude oil assay in February for its jointly owned Iracema discovery, which began producing third-quarter 2014 on Block BM-S-11 in the Santos basin off Brazil (OGJ Online, Oct. 14, 2014).

FE analysis controls subsea pipeline buckling

May 4, 2015

Finite-element (FE) analysis, as presented in the recently completed Safebuck joint industry project's (JIP) design guideline, can help control buckling of subsea pipelines.

OTC: BP’s Dupree outlines new model for offshore technology development

May 4, 2015

Operators are changing their approach to offshore technology development because of its increasing scale and pace, said James Dupree, BP’s chief operating officer, reservoir development technology.

Subsea gas compression increases chance of deepwater development

May 4, 2015

Deepwater prospects gain momentum off Morocco

May 4, 2015

Morocco's long-awaited offshore oil and gas development may soon be under way.

CERAWeek: Evolutions of Pemex, YPF running parallel

May 4, 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.

OGJ Newsletter

May 4, 2015

International news for oil and gas professionals

USGS report aims to improve quake prediction from induced seismicity

May 4, 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.

Diligence essential to avoid future offshore mistakes, panel told

May 4, 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.

GOM REVENUE SHARING-3 Forecast sheds light on GOMESA Phase II expected revenues

May 4, 2015

The second phase of Gulf of Mexico Energy Security Act of 2006 (GOMESA) revenue sharing will begin in 2017 and specifies that 37.5% of qualified revenues from Outer Continental Shelf (OCS) leases issued after Dec. 20, 2006, will be shared with gulf producing states, subject to an annual cap of $375 million.

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