More Oil & Gas Drilling and Production News

EIA: Utica gas output to reach 1.3 bcfd in September

Aug 12, 2014

Total natural gas production in Ohio’s Utica region—which includes production from the Utica and Point Pleasant formations as well as legacy production from conventional reservoirs—is expected to increase to 1.3 bcfd in September from just 155 MMcfd in January 2012, according to the US Energy Information Administration’s Drilling Productivity Report (DPR).

House Democrats call for higher federal onshore royalty rates

Aug 11, 2014

Rep. Alan Lowenthal (D-Calif.) urged the US Department of the Interior to raise the 12.5% royalty rate oil and gas producers pay for production from onshore federal lands.

Brightoil completes $1.046-billion acquisition of Bohai Bay assets

Aug 11, 2014

Brightoil Petroleum Ltd. has closed on its acquisition of interest in two oil producing blocks in Bohai Bay from Anadarko China Holdings 2 Co. Ltd., a wholly owned subsidiary of Anadarko Petroleum Corp., for $1.046 billion.

Gabon signs offshore E&P contracts with six firms

Aug 11, 2014

The government of Gabon has signed exploration and production contracts for offshore blocks with Noble Energy Inc., Woodside Petroleum Ltd., Marathon Oil Corp., Impact Oil & Gas Ltd., Repsol SA, and Petronas.

BHI: US rig count pierces 1,900 mark for first time in 2 years

Aug 8, 2014

The US drilling rig count surpassed the 1,900 mark for the first time since August 2012, jumping 19 units to 1,908 rigs working during the week ended Aug. 8, Baker Hughes Inc. reported.

Statoil lets contract for integrated drilling services

Aug 8, 2014

Statoil ASA has let a 1.15-billion kroner contract to Schlumberger Norway for integrated drilling services on Norwegian continental shelf licenses Gullfaks, Gullfaks Satellites, Snorre, Statfjord, Tordis-Vigdis, and Visund.

OGUK: Optimism still waning in UK’s offshore oil, gas industry

Aug 6, 2014

Optimism in the UK’s offshore oil and gas industry continues to wane, according the second-quarter Oil & Gas UK (OGUK) Business Sentiment Index (BSI), released Aug. 6.

US crude exports seen helping consumers

Aug 6, 2014

Ending the US ban on exports of crude oil would hurt refiners now profiting from low feedstock costs but help producers and consumers, says an analyst at the Federal Reserve Bank of Dallas.

Shell starts oil production from Bonga North West off Nigeria

Aug 6, 2014

Royal Dutch Shell PLC reported the start of oil production from the first well at its Bonga North West deepwater development, drilled in 1,000 m of water offshore Nigeria. Operated by Shell subsidiary Shell Nigeria Exploration & Production Co. Ltd.

UK regulators approve drilling in Horse Hill oil field

Aug 6, 2014

The UK Environment Agency approved drilling an initial well in Horse Hill oil field in Surrey, UK, announced Horse Hill Developments Ltd., a London joint venture and field operator. The field is part of Petroleum Exploration and Development License 137.

EIA: Marcellus accounts for 40% of US shale gas production

Aug 5, 2014

Natural gas production from the Marcellus shale has surpassed 15 bcfd through July and now represents 40% of US shale gas production, making it the largest producing shale gas basin in the country, according to the US Energy Information Administration’s Drilling Productivity Report.

Center for LNG urges DOE to scrap proposed export review changes

Aug 4, 2014

The US Department of Energy's proposal to only issue national interest determinations to LNG export projects that have completed a National Environmental Policy Act review should be withdrawn, the Center for Liquefied Natural Gas said.

IPAA survey: Regulation becoming more burdensome for oil, gas independents

Aug 4, 2014

Regulations over the past 5 years have made operations more complex for independent oil and gas producers, according to a recent survey, Profile of Independent Producers 2012-13, released by the Independent Petroleum Association of America.

Texas Petro Index sets record for 7th straight month

Aug 4, 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), continued to produce record highs last month amid an "economic tsunami."

GUIDE TO WORLD CRUDES: BP updates assay for Angolan Saturno crude

Aug 4, 2014

Based on a sample taken Feb. 4, 2014, BP PLC has published an updated assay of its Saturno Blend crude oil, which is the marketing name for production from Plutão, Saturno, Venus, and Marte (PSVM) fields in the ultradeepwater area of Block 31 off Angola (OGJ Online, Jan. 31, 2013; Feb. 4, 2009; Nov. 24, 2003; Mar. 17, 2003).

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