More Oil & Gas Drilling and Production News

Stone Energy lets pipe supply, installation contracts for Amethyst field

Jan 27, 2015

Stone Energy Corp., Lafayette, La., has let flexible pipe supply and installation contracts to Technip SA for Amethyst field on Mississippi Canyon Block 26 in the Gulf of Mexico.

Hess cuts capital budget by 16% to $4.7 billion

Jan 27, 2015

Hess Corp. has set a capital budget of $4.7 billion for 2015, down 16% from $5.6 billion spent last year. The company at the beginning of 2014 reported a $5.8 billion budget for the year.

OGUK: Push to ban fracing in UK ‘ill-informed’

Jan 26, 2015

The House of Commons Environmental Audit Committee’s proposed amendment to the infrastructure bill that would introduce a moratorium on hydraulic fracturing in the UK is “ill-informed” and would derail industry and cross-party efforts to maximize economic recovery of oil and gas from the North Sea, Oil & Gas UK said on Jan. 26.

EIA: Stable oil production outlook in Lower 48 despite near-term rig-count reduction

Jan 26, 2015

According to data from Baker Hughes Inc., between the weeks ended Oct. 31, 2014, and Jan. 23, 2015, the number of active onshore drilling rigs in the Lower 48 dropped 16%, reflecting the sharp decline in oil prices over the last quarter of 2014.

MARKET WATCH: NYMEX oil price declined for week despite Saudi king’s death

Jan 26, 2015

Oil prices rose for a while on the New York market Jan. 23 on news of the death of Saudi Arabia King Abdullah but dropped before the settlement, closing at the front-month’s lowest level since March 2009.

Conoco's Lance calls for repeal of US crude oil export ban

Jan 26, 2015

The US crude export ban that was imposed in 1975 should be repealed 40 years later to ensure the US oil and gas renaissance continues, ConocoPhillips Chief Executive Officer Ryan Lance said.

White House orders steps to curb oil and gas methane emissions

Jan 26, 2015

The Obama administration set a new goal to cut methane emissions from the oil and gas sector from 2012 levels by 40-45% by 2025, and a set of actions to put the US on a path to achieve this goal.

Study says most of California's fracturing done in Kern County

Jan 26, 2015

Almost all hydraulic fracturing done in California happens in the southwest portion of the San Joaquin basin in Kern County, said a scientific study released by the California Natural Resources Agency, the California Council on Science & Technology (CCST), and Lawrence Berkeley National Laboratory.

Fire extinguished from Energy XXI platform offshore Louisiana

Jan 23, 2015

A fire has been extinguished from a producing, unmanned platform in the Gulf of Mexico following damage that was possibly caused by a vessel, the US Bureau of Safety and Environmental Enforcement (BSEE) reported on Jan. 23.

API: US petroleum demand up in December, oil production highest since 1972

Jan 23, 2015

Total US petroleum deliveries, a measure of demand, increased 5.1% last month from December 2013 to average nearly 20 million b/d, according to the American Petroleum Institute’s monthly statistics for December 2014. For the fourth quarter, total US petroleum deliveries gained 2.9% compared with the same period in 2013.

BHI: US rig count falls for 8th straight week, down 43 units

Jan 23, 2015

The US drilling rig count fell 43 units to settle at 1,633 rigs working during the week ended Jan. 23, Baker Hughes Inc. reported.

Western Canada due output, spending cuts

Jan 22, 2015

The Canadian Association of Petroleum Producers has cut its expectations for oil-production growth and said it expects sharply lower capital spending by the oil industry in western Canada this year.

Eni has strike in Egypt’s Western Desert

Jan 22, 2015

Eni SPA has started production from an oil and gas discovery at the West Melehia deep exploration prospect in the Western Desert of Egypt, 300 km west of Alexandria.

Treasury’s Lew lists oil, gas producers as prime tax-reform target

Jan 21, 2015

US Sec. of the Treasury Jack Lew signaled the Obama administration’s fresh intention to seek repeal of federal tax provisions US oil and gas producers consider essential to their businesses as part of its comprehensive business tax-reform plan.

BHP to reduce US onshore rigs by 40% by July

Jan 21, 2015

Australia’s BHP Billiton will reduce its US onshore rig presence from 26 to 16 by July in response to lower oil prices.

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