More Oil & Gas Drilling and Production News

Statoil farms out 15% interest in block offshore Angola

Apr 3, 2014

Statoil ASA has agreed to farm out a 15% interest in Block 39 of the Kwanza presalt basin offshore Angola to WRG Angola Block 39 Ltd. (WRG). The deal is subject to approval by Sonangol EP, the Angolan minister of petroleum, and the license partners, according to the company.

WoodMac: Bakken drilling, completion capex to top $15 billion in 2014

Apr 2, 2014

Oil and gas industry analyst Wood Mackenzie Ltd. forecasts that operators in the Bakken shale will invest more than $15 billion on drilling and completions in 2014, second only to the Eagle Ford in the US Lower 48 states.

Contract let for Yolla gas field rig

Apr 1, 2014

Origin Energy Ltd., Sydney, and partners in the BassGas joint venture have let a contract to Seadrill Australia Pte. Ltd. to provide the West Telesto drilling rig for the project’s upcoming work program in Yolla gas field in the Bass Strait.

Moody’s: Marcellus shale gas producers to benefit most in US

Apr 1, 2014

Natural gas producers in the Marcellus shale will benefit more than producers elsewhere in the US because of many favorable circumstances, even if prices were to decline to 2012 levels, Moody’s said in a recent report.

Roc farms in to PSC offshore Malaysia

Apr 1, 2014

Fresh from its sale of the Basker-Manta-Gummy (BMG) fields in Bass Strait, Roc Oil Co. Ltd. has farmed in to a production-sharing contract offshore Malaysia.

Husky, CNOOC start production from Liwan 3-1

Mar 31, 2014

Husky Energy Inc., Calgary, and CNOOC Ltd. reported the start of production from Liwan 3-1 field in the South China Sea.

Lukoil starts production at West Qurna-2 field

Mar 31, 2014

Lukoil Mid-East Ltd. has started production at Iraq’s West Quarna-2 oil field after reaching its target of 120,000 b/d on Mar. 28. The company says it must maintain that level of production for the next 90 days to begin receiving a return on investment, based on a 2010 agreement with the Iraqi government.

EIA: Tight-oil production pushes up US supply

Mar 31, 2014

US tight-oil production averaged 3.22 million b/d in fourth-quarter 2013, pushing overall US crude production to more than 10% of the world's total production, up from 9% in fourth-quarter 2012, according to the US Energy Information Administration.

White House eyes steps to curb oil, gas methane emissions

Mar 29, 2014

The White House announced additional steps to reduce methane emissions from oil and gas operations as part of a broader strategy. They included regulations to be proposed later this year by the US Bureau of Land Management to curb natural gas flaring on public lands.

Baker Hughes: US drilling rig count rebounds to 1,809

Mar 28, 2014

The US drilling rig count gained back the 6 units it lost last week to reach 1,809 rigs working during the week ended Mar. 28, Baker Hughes Inc. reported.

Sinopec reveals Fuling field production capacity goals

Mar 25, 2014

Sinopec plans to develop Fuling shale gas field in southwestern China to a production capacity of 10 billion cu m (bcm)/year by 2017, the company said.

IEA: Global oil demand revised upward on stronger data

Mar 24, 2014

Global oil demand in 2013 rose by 1.3 million b/d year-over-year to 91.3 million b/d, according to the latest, near-complete set of demand data for the year, the International Energy Agency said in its most recent monthly Oil Market Report.

Santos brings Peluang gas development on stream

Mar 24, 2014

Santos Ltd., Adelaide, has started natural gas production from its Peluang development offshore the Indonesian island of Java.

Baker Hughes: US drilling rig count drops to 1,803

Mar 21, 2014

After consecutive weeks of significant gains, the US drilling rig count lost 6 units to 1,803 rigs working during the week ended Mar. 21, Baker Hughes Inc. reported.

Cenovus gets AER approval for Grand Rapids oil sands project

Mar 21, 2014

Cenovus Energy Inc. reported that it has received approval from the Alberta Energy Regulator (AER) for its wholly owned Grand Rapids thermal oil sands project 300 km north of Edmonton in the company’s Greater Pelican Region in northern Alberta.

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