More Oil & Gas Drilling and Production News

Steel jacket moving to Mariner field off UK

Aug 11, 2015

A core unit in the development of Mariner heavy oil field is moving to location on the East Shetland Platform of the UK North Sea about 150 km east of the Shetland Islands.

EIA: US shale oil output to drop 93,000 b/d in September

Aug 10, 2015

Crude oil production in September from seven major US shale plays is expected to decline 93,000 b/d to 5.27 million b/d, according to the US Energy Information Administration’s latest Drilling Productivity Report (DPR). EIA previously projected 91,000-b/d declines for both July and August.

API: Oil, gas boost 2015 US trade balance

Aug 10, 2015

The oil and gas industry continues to drive US economic gains in 2015, a trend that could accelerate under free trade policies, noted American Petroleum Institute Chief Economist John Felmy in comments about the Aug. 5 midyear trade report from the US Department of Commerce.

Latest Texas Petro Index shows 'economic disconnect'

Aug 10, 2015

The Texas Petro Index (TPI) for June indicates that crude oil and natural gas production and jobs estimates in the Lone Star State increased from May despite the unfavorable economic climate.

Industry 2Q earnings, jobs dissolve amid continued oil-price slump

Aug 10, 2015

A difficult year thus far for the integrated, multinational oil and gas firms caused by low oil prices has been somewhat eased by improved production and better refining margins. However, overall earnings and spending are down, and in the case of Royal Dutch Shell PLC, conditions are resulting in job cuts.

BHI: Boosted by another gain in oil rigs, total US rig count rises 10 units

Aug 7, 2015

The overall US drilling rig count gained 10 units during the week ended Aug. 7 to reach a total of 884 rigs working, according to data from Baker Hughes Inc. A total of 27 units has now gradually come online since the week ended June 19.

Yankowsky named executive VP, COO of Magnum Hunter

Aug 7, 2015

Magnum Hunter Resources Corp. has appointed Keith Yankowsky as executive vice-president and chief operating officer, effective Sept. 1. He will report directly to Gary C. Evans, chairman and chief executive officer.

Lukoil gets $1 billion in financing for Shah Deniz in Azerbaijan

Aug 7, 2015

JSC Lukoil has signed an agreement with a consortium of banks to borrow $1 billion for the second stage of the Shah Deniz natural gas project offshore Azerbaijan.

Second-quarter net losses abound for US E&P firms

Aug 7, 2015

Reports of second-quarter losses continued this week for US exploration and production firms, following suit as both ConocoPhillips and Hess Corp. published net losses a week ago.

Saudi Aramco launches carbon capture pilot project

Aug 6, 2015

Saudi Aramco reported the launch of a carbon capture and storage pilot project in an attempt to enhance oil recovery while reducing carbon dioxide emissions. Aramco hopes the project, which it is calling the largest of its kind in the Middle East, will demonstrate enhanced oil recovery beyond the more common method of water flooding.

ExxonMobil continues Midland basin leasehold expansion

Aug 6, 2015

ExxonMobil Corp. has executed two agreements to obtain horizontal development rights in 48,000 acres in the core of the Midland basin. Neither the seller nor the purchase price was disclosed.

Oklahoma reduces wastewater disposal well volumes in Oklahoma, Logan counties

Aug 5, 2015

The Oklahoma Corporation Commission’s Oil & Gas Conservation Division (OGCD) announced plans to reduce oil and gas wastewater disposal well volume in a proscribed area of northern Oklahoma County and southern Logan County to try and reduce earthquakes.

IFC signs financing agreement to assist Argentinian producer

Aug 4, 2015

The International Finance Corp. signed a $520-million financing agreement with Pan American Energy to help the Buenos Aries oil and gas producer develop its resources to help meet Argentina’s rising energy needs.

Mahawar named ONGC director, onshore

Aug 4, 2015

Ved Prakash Mahawar has been named director, onshore, of Oil & Natural Gas Corp. In his new role, Mahawar will oversee all onshore operations.

Woodside lets contract for Browse FLNG project

Aug 3, 2015

Woodside Petroleum Ltd. has let a 12-month, $6-million contract to Wood Group Kenny (WGK) to carry out a front-end engineering and design job for the Woodside-led joint venture’s proposed Browse floating LNG (FLNG) project.

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