More Oil & Gas Drilling and Production News

Chevron reports start of production from Jack-St. Malo fields

Dec 2, 2014

Chevron Corp. has reported the start of oil and natural gas production from Jack-St. Malo fields development project in the deepwater US Gulf of Mexico. The company expects total production from the fields to ramp up to 94,000 b/d of crude and 21 MMcfd of gas by 2020.

MARKET WATCH: NYMEX crude oil prices rebound

Dec 2, 2014

Oil prices rebounded by nearly $3 on the New York market Dec. 1 to settle at $69/bbl after plunging more than $7/bbl in a single trading session last week in reaction to a decision by members of the Organization of Petroleum Exporting Countries to keep their current production quota.

Johan Sverdrup partners recommend Statoil as operator

Dec 1, 2014

Statoil ASA has been recommended by its partners as operator in all phases of Johan Sverdrup field, which lies on the Utsira High in the North Sea, 155 km due west of Stavanger.

OMV-operated Maari oil redevelopment brought on stream

Dec 1, 2014

The OMV AG-operated Maari oil field redevelopment has been brought on stream in New Zealand’s offshore Taranaki basin.

Woodside approves next step in North West Shelf project

Dec 1, 2014

Woodside Petroleum Ltd. has reported joint-venture approval for a $1.2 billion (Aus.) phase-in development of the North West Shelf gas project offshore Western Australia.

CNOOC begins gas production from Panyu in South China Sea

Dec 1, 2014

China National Offshore Oil Corp. Ltd. reported start of natural gas production from its Panyu 34-1/35-1/35-2 project in the Pearl River Mouth basin in the South China Sea.

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

Dec 1, 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.

MARKET WATCH: NYMEX crude oil prices dive after OPEC maintains quota

Dec 1, 2014

Oil prices dived on the New York market to settle at $66.15/bbl for the January crude oil contract on Nov. 28, falling more than $7/bbl from the previous closing after the Organization of Petroleum Exporting Counties announced the cartel agreed to maintain its production quota at 30 million b/d.

CLARIFYING GOM DECOM COSTS-1: Settled-liability data provide insight for cost estimates

Dec 1, 2014

Cost data in the oil and gas industry are proprietary and obtaining them is difficult. Unless collected across a large and diverse sample, summary statistics are unlikely to be representative of the activity or process these data are trying to specify.

Optimization yields gains for Saudi crude processing giant

Dec 1, 2014

Since 2000, Saudi Aramco has implemented an energy-conservation program to enhance efficiency throughout its operations. These efforts have paid off in energy savings valued in terms of cost/boe consumed internally that could otherwise be exported for profit.

Nelson-Farrar monthly cost indexes

Dec 1, 2014

Global reserves, oil production show increases for 2014

Dec 1, 2014

Oil & Gas Journal's annual look at worldwide proved reserves shows increases compared with a year ago. Reserves estimates for crude oil and lease condensate now total 1.656 trillion bbl, up from 1.647 trillion bbl reported in last year's survey (OGJ, Dec. 2, 2013, p. 30).

EPA won't finalize RFS's 2014 biofuel quotas before yearend

Dec 1, 2014

The US Environmental Protection Agency announced it will not finalize 2014 biofuel quotas under the federal Renewable Fuel Standard (RFS) before yearend.

NOIA, API studies list benefits of more federal OCS leasing

Nov 30, 2014

Offshore oil and gas leasing in the eastern Gulf of Mexico and on the US Atlantic and Pacific coasts could create more than 838,000 American jobs and raise more than $200 billion in revenue for the government, according to recent studies released jointly by the National Ocean Industries Association and the American Petroleum Institute.

Boehner urged to bring BLM drilling permit processing bill to floor

Nov 26, 2014

Six oil and gas association presidents and officials from two major national business groups urged US House Speaker John A. Boehner to consider a Senate-approved measure extending a drilling permit processing pilot program in several US Bureau of Land Management field offices before Congress’s lame-duck session concludes.

Market Connection

PUBLIC AUCTION: Complete Liquidation of 300-Acre Facility. McDERMOTT, INC.: AMELIA (MORGAN CITY), LOUISIANA. SEPTEMBER 8-12, 2014. ONE OF AMERICA’S OLDEST & MOST RESPECTED OFFSHORE/ONSHORE HEAVY FABRICATION FACILITIES: OFFSHORE MARINE EQUIPMENT, TREMENDOUS OFFERING OF MOBILE EQUIPMENT, COMPLETE OFFSHORE PLATFORM & JACKET MANUFACTURING FACILITIES.

PUBLIC AUCTION: Complete Liquidation of Offshore/Onshore Heavy Fabrication Facility

  PUBLIC AUCTION: Complete Liquidation of 300-Acre Facility. McDERMOTT, INC.: AMELIA (MORGAN CITY), LOUISIANA. SEPTEMBER 8-12, 2014. ONE OF AM...
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