More Oil & Gas Drilling and Production News

ExxonMobil spending down 12% to $34 billion

Mar 4, 2015

ExxonMobil Corp. plans $34 billion in capital spending during 2015, representing a 12% decrease from 2014.

Tawke output to rise in Kurdistan region

Mar 4, 2015

Production from Tawke oil field in the Kurdistan region of Iraq will begin increasing this spring toward new capacity of 200,000 b/d, reports Bijan Mossavar-Rahmani, executive chairman of operator DNO ASA, Oslo.

EIA forecasts continued rise in US oil production from gulf

Mar 3, 2015

Crude oil production from the Gulf of Mexico will reach 1.52 million b/d in 2015 and 1.61 million b/d in 2016—or respectively 16% and 17% of total US crude production during each year—according to projections from the US Energy Information Administration.

Shell Canada withdraws application for Pierre River heavy oil project

Mar 3, 2015

Shell Canada Ltd. has withdrawn its regulatory application for the proposed Pierre River heavy oil mine north of Fort McMurray.

Anadarko cuts spending, stalls well completions

Mar 3, 2015

Anadarko Petroleum Corp. on Mar. 3 said it will cut spending 33% during 2015 compared with 2014 and will reduce drilling and defer 125 onshore well completions in response to low oil prices.

LetterOne completes purchase of RWE Dea for €5.1 billion

Mar 2, 2015

Russian investment firm LetterOne Group and Germany’s RWE AG have completed LetterOne’s acquisition of RWE Dea for an enterprise value of €5.1 billion, slightly higher than the agreed upon amount when the sale was reported in January.

Chevron wins again in Ecuador case as moneyman recants

Mar 2, 2015

With another triumph in its long battle against litigious gold-digging involving Ecuador, Chevron Corp. again demonstrates the goodness of corporate resolve.

EOG Resources' budget down 40% to $4.9-5.1 billion

Mar 2, 2015

EOG Resources Inc., Houston, plans a capital budget of $4.9-5.1 billion in 2015 including production facilities and midstream expenditures, representing a 40% reduction compared with last year's budget.

New regulator lists UKCS 'priority actions'

Mar 2, 2015

The UK's Oil and Gas Authority (OGA), responding to calls from industry and the government for prompt support of UK Continental Shelf exploration and production, has described "eight highest priority actions" for its first year of operation.

New analytics, modeling improve subsalt drilling safety

Mar 2, 2015

Analytical models driven by advanced computing capacity and by numerical and physical models improve safety while drilling ultradeepwater subsalt basins.

Method improves high-pressure settle-out calculations

Mar 2, 2015

Settle-out calculations in natural gas systems need to be sufficiently rigorous accurately to predict settle-out under various operating conditions without being so conservative as to increase costs.

COMMENT: Mexico's energy reform: A sobriety check

Mar 2, 2015

The Mexican energy reform of 2014 encompasses all links in the oil, gas, and power value chains.

BHI: US rig count continues to tumble, falls 43 units to 1,267

Feb 27, 2015

The US drilling rig count declined 43 units—down from losses of 48 last week and 98 the previous week—to settle at 1,267 rigs working during the week ended Feb. 27, according to data from Baker Hughes Inc.

UKCS report cites need for deep cost cuts

Feb 27, 2015

The struggling producing industry on the UK Continental Shelf needs deep cost cuts, according to the Oil & Gas UK's Activity Survey 2015.

Statoil, Sinochem submit POD for Peregrino Phase II off Brazil

Feb 27, 2015

Statoil ASA and partner Sinochem have submitted a plan of development (POD) for the $3.5-billion Peregrino Phase 2 project to Brazil’s National Agency of Petroleum, Natural Gas, and Biofuels (ANP).

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