More Oil & Gas Drilling and Production News

Polarled pipeline installation under way from Norwegian Sea

Mar 27, 2015

The Solitaire pipe-laying vessel has started Stage 1 of the Statoil ASA-operated Polarled installation project connecting Aasta Hansteen field in the Norwegian Sea to Nyhamna in western Norway.

Schlumberger subsidiary pleads guilty to violating US sanctions

Mar 26, 2015

Schlumberger Oilfield Holdings Ltd. (SOHL) agreed to plead guilty and pay a fine of more than $232.7 million for conspiring to violate the International Emergency Economic Powers Act (IEEPA) by willfully facilitating illegal transactions and engaging in trade with Iran and Sudan, the US Department of Justice announced on Mar. 25.

Canadian oil industry jobs, revenues plunge

Mar 26, 2015

The Canadian oil industry will shed nearly 8,000 jobs this year as revenues fall by $43 billion (Can.) in response to the plunge in oil prices, predicts the Conference Board of Canada.

PIRA: US shale oil production to slightly decline during second quarter

Mar 25, 2015

US shale oil production will flatten and slightly decline during the second quarter, PIRA Energy Group of New York said in an Energy Market Recap.

OMV-led group brings Maari field redevelopment well on stream

Mar 25, 2015

OMV Group’s latest redevelopment well drilled in Maari oil field on permit PMP 38160 offshore New Zealand’s Taranaki basin has been brought on stream at a rate of 7,800 b/d.

SPE/ICoTA: Oil field services market to contract, rebound quickly

Mar 24, 2015

In a keynote speech to attendees of the 2015 Coiled Tubing & Well Intervention Conference & Exhibition, Richard B. Spears, an oil field services market researcher, says the worst may be yet to come for that market, but a partial recovery also could come sooner than expected.

Barclays: New fracturing regs will have limited effect on US oil, gas output

Mar 23, 2015

A recent US rule about hydraulic fracturing on federal and tribal lands will have limited effect on existing US oil and natural gas production, said a Barclays Research analyst in New York.

FMC, Technip to form Forsys Subsea venture

Mar 23, 2015

International oil field services firms FMC Technologies Inc. and Technip SA have agreed to form Forsys Subsea, a 50-50 joint venture marking the latest collaboration by oil and gas service and supply companies to cope with the deflated global oil price environment.

Central completes Dingo gas field commissioning

Mar 23, 2015

Central Petroleum Ltd., Brisbane, has completed commissioning of Dingo natural gas field in Northern Territory’s southern Amadeus basin.

MARKET WATCH: NYMEX crude oil prices bounced up more than $1/bbl

Mar 23, 2015

US light, sweet crude prices rose by more than $1/bbl on Mar. 20 on the New York market on release of the Baker Hughes Inc. weekly rig count, which showed the number of rigs drilling in the US has fallen for 15 consecutive weeks.

OGJ Newsletter

Mar 23, 2015

International news for oil and gas professionals

TAEP: Year of 'dramatic contraction' under way in Texas oil, gas employment

Mar 23, 2015

The Texas Petro Index (TPI) dropped seven points to 299.6 during January compared with December, reflecting low crude oil prices, a falling rig count, and decline in drilling permits.

API: February US petroleum demand is highest since 2008

Mar 20, 2015

Total US petroleum demand reached an average 19.3 million b/d in February—the highest level for the month since 2008, the American Petroleum Institute reported on Mar. 19. The amount represented a 1.5% year-to-year increase from February 2014’s nearly 19 million b/d.

BHI: US rig count plunges in 15th straight week, spurred by offshore dropoff

Mar 20, 2015

The US drilling rig count fell 56 units—41 of which targeted oil—to settle at 1,069 rigs working during the week ended Mar. 20, capping off the 15th consecutive week in declines, according to data from Baker Hughes Inc.

DOI issues final rule for fracing on public, tribal lands

Mar 20, 2015

The US Department of the Interior issued a long-anticipated final rule to govern hydraulic fracturing of onshore oil and gas wells on public and tribal lands. Officials said the regulations will improve safety and help protect groundwater by updating requirements for wellbore integrity, wastewater disposal, and public disclosure of chemicals.

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