More Oil & Gas Drilling and Production News

For the US economy, a falling oil price has drawbacks, too

Jan 5, 2015

Cheer in the US about an economic lift from falling oil prices needs qualification.

ConocoPhillips starts oil production from Eldfisk II project

Jan 5, 2015

ConocoPhillips has started oil production from the Eldfisk II project in the Norwegian North Sea.

Statoil starts gas, condensate production from Valemon

Jan 5, 2015

Statoil ASA reported start of natural gas and condensate production from Valemon field in the Norwegian North Sea on Jan. 3.

New York state moves to ban hydraulic fracturing

Jan 5, 2015

High-volume hydraulic fracturing will be banned in New York state, Gov. Andrew Cuomo's administration announced Dec. 17, citing health risks and concerns about possible contamination of air and water. The state for years has had a temporary moratorium on fracing in the Marcellus shale.

IEA finds US energy policy improved in latest in-depth review

Jan 5, 2015

US energy policies have come into sharper focus in the last six years, the International Energy Agency said in its latest periodic review. It specifically cited the US Department of Energy's establishment of a Quadrennial Energy Review and US President Barack Obama's strategy to address climate change as major steps since 2008.

Firefighters extinguishing fire to Bakken storage tanks in Alexander, ND

Jan 2, 2015

Firefighters used a foam truck on Jan. 2 in efforts to extinguish a fire to eight storage tanks at a truck unloading station in Alexander, ND, an Enbridge spokesman told OGJ’s Unconventional Oil & Gas Report. The first was expected to be extinguished on Jan. 2.

Gazprom Neft brings third Badra well into production in Iraq

Jan 2, 2015

JSC Gazprom Neft said a third well in the Badra field in eastern Iraq has come on production, ensuring “sustainable” rates of at least 15,000 b/d. Drilling of another three wells continues.

BP starts production from Kinnoull field in central North Sea

Dec 31, 2014

BP PLC reported start of oil and gas production from Kinnoull field in the central North Sea. Kinnoull is BP’s seventh and final major upstream project start-up in 2014, the company said.

Petrobras declares commerciality of Iara area

Dec 30, 2014

Petroleo Brasileiro SA (Petrobras) has submitted declarations of commerciality for three separate oil and gas accumulations in the Iara evaluation area on Block BM-S-11, 300 km offshore Brazil in 2,200 m of water in the Santos basin presalt.

BHI: US land drilling down 35 units in most recent rig count

Dec 29, 2014

The US drilling rig count dropped 35 units to settle at 1,840 units working during the week ended Dec. 26, pushed down entirely by losses on land, Baker Hughes Inc. reported.

TAEP: TPI still up, but 'contraction unavoidable'

Dec 22, 2014

The Texas Petro Index (TPI), a composite index based on a comprehensive group of upstream economic indicators released by the Texas Alliance of Energy Producers (TAEP), set well-permitting and employment records in October, resulting in another record high score overall.

US needs more data before ending crude export ban, House panel told

Dec 22, 2014

Much more environmental impact information is needed before the US can reasonably remove crude oil export limits, a witness told a House Energy and Commerce Committee subcommittee during a Dec. 11 hearing examining energy policies enacted nearly 40 years ago.

Oil and militancy

Dec 22, 2014

That oil prices can collapse while bloody militancy ravages three important members of the Organization of Petroleum Exporting Countries shows dominance of market fundamentals over geopolitical worry. But geopolitics never can be ignored.

BHI: North Dakota, Williston spur continued decline in US rig count

Dec 19, 2014

The US drilling rig count dropped 18 units to settle at 1,875 rigs working during the week ended Dec. 19, pushed down by losses in North Dakota and the Williston basin, Baker Hughes Inc. reported. That total, however, was trumped by the 40-unit drop in neighboring Canada.

Statoil lets contract to Schlumberger for Mariner field

Dec 19, 2014

Statoil ASA has awarded an integrated drilling and well services contract for the Mariner heavy oil field in the UK North Sea to Schlumberger Oilfield UK Plc.

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