More Oil & Gas Drilling and Production News

Crude prices could climb if Iraq instability persists, SAFE warns

Jun 19, 2014

Despite continuing US production increases, global crude oil prices could climb as much as $40/bbl if instability in Iraq persists, Securing America’s Future Energy (SAFE) warned in a recent report.

Nikaitchuq oil output reaches 25,000 b/d

Jun 19, 2014

Oil production has reached 25,000 b/d at Nikaitchuq field offshore Alaska’s North Slope, reports Eni SPA.

IEA: Global unconventional oil revolution to launch by decade’s end

Jun 17, 2014

By 2019, tight oil supply outside the US could reach 650,000 b/d, including 390,000 b/d from Canada, 100,000 b/d from Russia, and 90,000 b/d from Argentina, the International Energy Agency forecasts in its annual 5-year Oil Market Outlook released June 17.

BP: US tops China in oil consumption growth for first time since 1999

Jun 16, 2014

At 400,000 b/d, the US recorded the largest increment to global oil consumption in 2013, outpacing Chinese growth, 390,000 b/d, for the first time since 1999, according to BP’s 63rd annual Statistical Review of World Energy released June 16.

A new table: the DPR

Jun 16, 2014

Consider Oil & Gas Journal's statistics section to be a living, breathing animal. As such, on occasion, the section is required to adapt and change-sometimes shrink, sometimes expand-to better suit the needs of OGJ readers.

Eni Norge lets contract for Goliat inspection services

Jun 13, 2014

Eni Norge AS has entered into a framework agreement with DNV GL for inspection services for the Goliat platform in the Norwegian Barents Sea.

Baker Hughes: US drilling rig count declines to 1,854

Jun 13, 2014

The US drilling rig count dropped 6 units for the second consecutive week, settling at 1,854 rigs working during the week ended June 13, Baker Hughes Inc. reported.

WoodMac: NorAm oil output increases to outpace Middle East 4:1 by 2020

Jun 12, 2014

By 2020, increases in North American oil production will outpace that of the Middle East by 4:1 on a per barrel basis, and by 2030, North American output will increase by 390 million tonnes of oil equivalent (mtoe) from 650 mtoe in 2009, according to long-term analysis of global energy trends by Wood Mackenzie.

RPSEA aids seismic, well planning research

Jun 12, 2014

The Research Partnership to Secure Energy for America will provide $1.9 million to a wholly owned subsidiary of the Society of Exploration Geophysicists for joint-industry research into the use of seismic data in well planning.

CLOV development starts up offshore Angola

Jun 12, 2014

Total SA and partners have started up the four-field CLOV development in deep water offshore Angola with production capacity of 160,000 b/d of oil.

Catcher development approved offshore the UK

Jun 12, 2014

A group led by Premier Oil PLC has received government approval for development of three oil and gas fields in the Catcher area of the UK Central North Sea.

Osum to purchase Orion project from Shell for $325 million (Can.)

Jun 11, 2014

Osum Oil Sands Corp., Calgary, plans to purchase the Orion oil sands project in Alberta from Shell Canada for $325 million (Can.).

EIA: US oil production in 2015 expected to be highest since 1972

Jun 10, 2014

Total US crude oil production in 2015 will reach its highest level since 1972, the US Energy Information Administration forecasts in its Short-Term Energy Outlook (STEO) released June 10. Production, which averaged 7.4 million b/d in 2013, is expected to average 8.4 million b/d in 2014 and 9.3 million b/d in 2015.

CAPP eases outlook for Canadian oil output

Jun 10, 2014

Oil production in Canada will increase at an average rate of 175,000 b/d/year through 2030—but not to as high a level as was forecast a year ago, reports the Canadian Association of Petroleum Producers.

Halcon boosts Tuscaloosa Marine shale work

Jun 9, 2014

Halcon Resources Corp., Houston, plans this year to spud 10-12 operated wells in the Tuscaloosa Marine shale (TMS) and to participate in 15-20 other wells in the play. To support the work, it has signed a definitive agreement with affiliates of Apollo Global Management LLC (AGM), New York, for investment of as much as $400 million.

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