More Oil & Gas Drilling and Production News

Norway offers 54 licenses in APA 2014, announces licensing round

Jan 20, 2015

Statoil ASA, Lundin Petroleum AB, and E.On E&P Norge AS headlined Norway’s Awards in Predefined Areas 2014 (APA 2014) licensing round for the North, Norwegian, and Barents seas.

Reliance expects to sign Myanmar PSC this quarter

Jan 20, 2015

Reliance Industries Ltd., Mumbai, said it expects to sign a production-sharing contract (PSC) this quarter with Myanma Oil & Gas Enterprise (MOGE) for shallow-water Blocks M17 and M18 offshore Myanmar.

Statoil lets riser platform jacket contract for Johan Sverdrup

Jan 20, 2015

Statoil ASA has awarded a contract to Kvaerner ASA for delivery of the riser platform jacket for the Johan Sverdrup field on the Norwegian continental shelf. The contract is valued at 2 billion kroner.

Wintershall: Shale gas controversy blocking conventional production

Jan 20, 2015

Wintershall Holding GMBH says natural gas production in Germany fell by about 6% in the past year, and controversy over shale gas and hydraulic fracturing is blocking conventional gas production.

Syncrude files applications for Mildred Lake extensions

Jan 20, 2015

Syncrude Canada Ltd. has filed applications with Alberta Energy Regulator for two extensions to the Mildred Lake oil sands production area.

Oil production starts at Lucius field in deepwater gulf

Jan 19, 2015

Partners in the Lucius oil project in the Keathley Canyon area of the deepwater Gulf of Mexico have reported first production.

Partners start production from Boyla field offshore Norway

Jan 19, 2015

Partners Det Norske ASA , Core Energy AS, and Lundin Petroleum AB have started production from Boyla field on Block 24/9 in production license 340 of the Norwegian North Sea.

ExxonMobil starts production from third Sakhalin-1 field

Jan 19, 2015

ExxonMobil Corp. says it started production from Arkutun-Dagi field in its Sakhalin-1 project in northeastern Russia. The field is expected to produce about 90,000 boe/d.

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

Jan 19, 2015

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

Moniz: Low crude prices unlikely to change US energy policies

Jan 19, 2015

Crude oil prices below $50/bbl could force some producers to reduce capital expenditures if they go on for long, but are not likely to change US energy policies, according to US Sec. of Energy Ernest G. Moniz.

EIA: Continued global oil stock build to keep pressure on oil prices

Jan 19, 2015

In its most recent monthly Short-Term Energy Outlook (STEO), the US Energy Information Administration reported it expects global oil inventories to continue to build in 2015, keeping downward pressure on oil prices.

Watching Government: Addressing the oil export ban

Jan 19, 2015

The 114th Congress's first energy policy priority-after approving the proposed Keystone XL crude oil pipeline-should be repealing the ban on US crude oil exports, the American Petroleum Institute believes. It also acknowledges that reaching this goal won't be easy.

BOEM raises offshore oil spill liability limit to $134 million

Jan 19, 2015

The US Bureau of Ocean Energy Management increased the liability limit for oil-spill related damages from offshore operations to $134 million from $75 million. The change will go into effect in January 2015.

Barclays sees likely downside to North American E&P budgets

Jan 19, 2015

Global exploration and production spending is expected to decline at least 8.8% in 2015 vs. 2014, according to 225 companies surveyed in the Barclays E&P Spending Outlook.

BP could be fined up to $13.7 billion for Macondo spill

Jan 16, 2015

The US District Court for the Eastern District of Louisiana ruled under Phase 2 of the MDL 2179 civil trial that 3.19 million bbl of oil were discharged into the Gulf of Mexico during the Macondo deepwater well incident in 2010. BP PLC previously was found negligent in the spill.

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