More Oil & Gas Drilling and Production News

West Hub production starts offshore Angola

Dec 8, 2014

Production has begun from the West Hub development project in deep water offshore Angola, reports Eni SPA, the operator.

Nexen starts bitumen production at Kinosis 1A in Alberta

Dec 8, 2014

China National Offshore Oil Corp. Ltd. reported the start of bitumen production at the Kinosis 1A (K1A) steam-assisted gravity drainage (SAGD) facility in Alberta.

WoodMac: OPEC's decision undermines potential for near-term price recovery

Dec 8, 2014

The decision by the Organization of Petroleum Exporting Countries to maintain its members' production quota at 30 million b/d directs the focus of crude oil pricing on oil-demand growth expectations and tight-oil breakeven economics, said Wood MacKenzie Ltd.

Firms' third-quarter earnings climbed amid lower crude oil prices

Dec 8, 2014

A sample of 58 oil and gas producers and refiners based in the US recorded a combined 38% jump in profits for this year's third quarter compared with year-earlier results.

Insight on earnings

Dec 8, 2014

The oil and gas industry is one of the most capital-intensive businesses in the world. Oil and gas companies' high earnings are necessary to enable the massive investments needed to strengthen America's rising oil and gas production.

Gas production from Starfish to begin offshore Trinidad and Tobago

Dec 5, 2014

Partners in the Starfish natural gas project offshore Trinidad and Tobago say production from the development will begin Dec. 6.

API: Producers reducing methane emissions already

Dec 5, 2014

US oil and gas producers are reducing wellhead methane emissions already and don’t need ill-conceived, overly prescriptive federal regulations, American Petroleum Institute officials said.

BHI: Kansas, Granite Wash lead week of modest changes in US rig count

Dec 5, 2014

The US drilling rig count opened the month by adding 3 units to reach 1,920 rigs working during the week ended Dec. 5, Baker Hughes Inc. reported. The US has 145 more units compared with this week a year ago.

Statoil extends rig suspensions

Dec 5, 2014

Statoil ASA has elected to extend the suspensions of the COSL Pioneer, Scarabeo 5, and Songa Trym drilling rigs for additional 7.5, 1.5, and 1-month periods, respectively.

WoodMac estimates Eagle Ford shale production tops 1 billion bbl

Dec 5, 2014

The Eagle Ford shale in South Texas has produced more than 1 billion bbl of crude oil and condensate, energy consultant Wood Mackenzie Ltd. estimated, adding that the Eagle Ford has produced more than 70% of that total during the last 2 years.

House passes defense bill with BLM drilling permit program provision

Dec 5, 2014

The US House of Representatives approved a fiscal 2015 defense appropriations bill that includes a provision to extend and make permanent an onshore drilling permit processing pilot program in several US Bureau of Land Management field offices.

UK outlines more oil and gas incentives

Dec 4, 2014

The UK government will enact incentives for oil and gas development beyond what Chancellor George Osborne announced in a fiscal speech to Parliament on Dec. 3.

Freeport-McMoRan hits oil pay in two gulf development projects

Dec 4, 2014

Freeport-McMoRan Oil & Gas, a subsidiary of Freeport-McMoRan Inc., encountered a total of 234 net ft of Miocene oil pay with the Holstein Deep delineation well on Green Canyon Block 643 in the deepwater Gulf of Mexico.

Stone updates Cardona project in deepwater gulf

Dec 4, 2014

Stone Energy Corp., Lafayette, La., has started production testing from the Cardona Nos. 4 and 5 wells, both part of the Cardona deepwater development project in the Gulf of Mexico.

CAMAC signs contract for Oyo drilling

Dec 4, 2014

CAMAC Energy Inc., Houston, will use the Transocean Ltd. Sedco Express semisubmersible rig to drill and complete at least two wells in Oyo oil and gas field offshore Nigeria while the first two producing wells are being plugged.

Market Connection

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