More Oil & Gas Drilling and Production News

Drilling commences in Sidi Moussa block offshore Morocco

Jul 31, 2014

Drilling has begun on the Sidi Moussa block offshore Morocco, said joint-venture partner Serica Energy PLC. The Noble Paul Romano semisubmersible spudded the SM-1 well on July 30 about 60 km offshore in 990 m of water. Operations are expected to be completed in 60-90 days.

CNOOC starts oil production from Panyu project in S. China Sea

Jul 31, 2014

CNOOC Ltd. reported that its Panyu 10-2/5/8 project has started oil production. The Panyu 10-2/5/8 project lies in 100 m of water in the Pearl River Mouth basin of the South China Sea.

Rosneft, PDVSA sign agreements for offshore projects

Jul 30, 2014

OAO Rosneft and Petroleos de Venezuela SA (PDVSA) have signed a cooperation agreement for offshore projects in the Rio-Caribe and Mejillones blocks, the second stage of the Mariscal Sucre gas project

Chesapeake, RKI E&P agree on Powder River acreage exchange

Jul 29, 2014

Chesapeake Energy Corp. and RKI Exploration & Production LLC (RKI), both of Oklahoma City, have agreed to exchange nonoperated interests in 440,000 gross acres in the Powder River basin in southeastern Wyoming.

CNOOC starts natural gas production from East China Sea field

Jul 29, 2014

China National Offshore Oil Corp. Ltd. reported the start of natural gas production from Lishui 36-1 field on Block 25/34 in the East China Sea.

EIA: OPEC’s 2013 oil export revenues fall 7%

Jul 28, 2014

According to recent estimates from the US Energy Information Administration, members of the Organization of the Petroleum Exporting Countries, excluding Iran, earned about $826 billion in net oil export revenues in 2013, a 7% decrease from 2012 earnings. But this was still the second-largest earnings totals during 1975-2013—the timespan of how long EIA has tracked OPEC oil revenues.

Statoil installs Valemon topsides in Norwegian North Sea

Jul 28, 2014

Statoil ASA has installed topsides for the Valemon platform on Blocks 34/11 and 34/10 in the Norwegian North Sea. Samsung Heavy Industries built the structure after receiving a 2.3-billion kroner contract in 2011.

EIA: Summer natural gas injection continues at a record pace

Jul 28, 2014

The US Energy Information Administration’s current Short-Term Energy Outlook projects a record build of nearly 2,600 bcf from the beginning of April through the end of October, which would put inventories at 3,431 bcf at the end of October. In line with EIA's expectations, working natural gas storage midway through the summer storage injection season is on pace to for a record overall build.

States with fracing are economically stronger, House panel told

Jul 28, 2014

US states that embraced hydraulic fracturing and horizontal drilling staged stronger economic recoveries than those that did not since 2008 when the country plunged into recession, an economist told a House Energy and Commerce subcommittee.

DOE wants to mobilize subsurface engineering R&D efforts

Jul 28, 2014

The US Department of Energy wants to mobilize federal government, oil and gas industry, university, and other research to address subsurface engineering challenges, particularly controlling fracture propagation and fluid flow, officials said at the first of several projected discussions.

An Atlantic OCS step

Jul 28, 2014

If oil and gas drilling ever occurs off the US East Coast, the risk that a well will blow out catastrophically and spill oil, as tragically happened in the Gulf of Mexico 4 years ago, will be remarkably low.

Baker Hughes: US drilling rig count jumps to 1,883

Jul 25, 2014

The US drilling rig count shot up 12 units to 1,883 rigs working during the week ended July 25, Baker Hughes Inc. reported.

Contracts let for Nasr work off Abu Dhabi

Jul 25, 2014

Work is beginning on a platform complex in the second phase of development of Nasr oil field off Abu Dhabi.

Texas Petro Index sets record for 7th straight month

Jul 24, 2014

The Texas Petro Index (TPI), a composite index based on a comprehensive group of upstream economic indicators released by the Texas Alliance of Energy Producers (TAEP), continued to produce record highs last month amid an “economic tsunami.”

CERI: Costs up for oil sands production

Jul 23, 2014

The costs of producing bitumen and synthetic crude in the Albertan oil sands have increased over the past year, says the Canadian Energy Research Institute in an annual report that projects steady growth in output.

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