More Oil & Gas Drilling and Production News

Watching Government: More quakes in Oklahoma

May 19, 2014

The rate of earthquakes in Oklahoma has increased by about 50% since October 2013, significantly increasing the chance for a damaging quake in central Oklahoma, the US Geological Survey and Oklahoma Geological Survey jointly said on May 5.

OTC: Robust US energy policy will strengthen economy, lawmaker says

May 19, 2014

Anticipated energy demand worldwide by 2050 will be such that industry will need to produce similar levels of oil and gas compared with today's production levels, panelists told the Offshore Technology Conference during a May 6 session entitled, "Global Energy Outlook: Shaping the Future."

Chesapeake to spinoff oil field services unit, divest $4 billion in assets

May 16, 2014

Chesapeake Energy Corp., Oklahoma City, has decided to proceed with spinning off its oil field services business, currently conducted through its wholly owned subsidiary Chesapeake Oilfield Operating LLC (COO), almost 3 months after reporting that a spinoff or outright sale of the business was under consideration (OGJ Online, Feb. 24, 2014). COO will also convert into a corporation and change its name to Seventy Seven Energy Inc.

Baker Hughes: US drilling rig count lifts to 1,861

May 16, 2014

The US drilling rig count gained 6 units to 1,861 rigs working during the week ended May 16, Baker Hughes Inc. reported.

EnQuest eyes second-half Alma-Galia start

May 16, 2014

EnQuest PLC, London, expects production to start in this year’s second half from its redevelopment of Alma and Galia oil fields in the UK North Sea.

Petrobras sets daily production record in Brazil’s offshore presalt

May 16, 2014

Petroleo Brasileiro SA (Petrobras) has surpassed 470,000 b/d in the presalt layer of the Santos and Campos basins offshore Brazil, a new daily production record according to the company.

EIA: Norway supplied 21% of Europe’s natural gas in 2013

May 16, 2014

Norway, the world's third-largest natural gas exporter after Russia and Qatar, supplied 21% of total European gas needs in 2013, according to data from the US Energy Information Administration.

Mayer Brown: Mexico’s Congress trying to enact energy reform amid falling production rates

May 16, 2014

It easily could take longer than many might expect before state-run Petroleos Mexicanos (Pemex) and other companies are able to unlock Mexico’s vast oil and gas resources, said Jordy Herrera, the nation’s immediate past secretary of energy, told a Meyer Brown energy conference in Houston on May 15.

IEA: Downside risk presents on non-OPEC oil production outlook

May 16, 2014

In April, continued tensions between Russia and Ukraine, supply outages in Libya and northern Iraq, and increased crude buying as refiners come out of maintenance turnarounds combined to offset the impact of seasonally weaker demand and pushed up oil prices marginally, the International Energy Agency said in its most recent Oil Market Report.

Ramnarine: Easing of tight gas supplies in Trinidad and Tobago might take years

May 15, 2014

Trinidad and Tobago’s Energy Minister Kevin Ramnarine is now saying that it could take as long as 2 years before there is any easing in the tight supply-demand relationship of natural gas in the Caribbean twin-island nation.

Mayer Brown: Brazil reexamines its presalt policies

May 15, 2014

Brazil’s government is considering proposals to open operatorship of its presalt projects to companies other than state-run Petroleo Brasileiro SA (Petrobras), and this change might be made, Mayer Brown partner Alexandre R. Chequer told the law’s firm’s annual energy conference in Houston on May 15.

Bul Hanine field off Qatar due redevelopment

May 14, 2014

Qatar Petroleum will drill 150 wells through 2028 in an $11-billion redevelopment of offshore Bul Hanine oil field.

Marathon lets contract for Alvheim field subsea extension

May 14, 2014

Marathon Oil Norge AS has let a contract to Technip SA for the extension of subsea infrastructure on Alvheim field on the Norwegian Continental Shelf.

LGO to log first Goudron redevelopment well

May 14, 2014

Leni Gas & Oil PLC (LGO), London, will run electric logs to total depth of 4,212 ft in its first well of a 30-well redevelopment program for Goudron oil field in Trinidad and Tobago.

GlobalData: Kenya’s first commercial oil find could generate $10 billion

May 14, 2014

Kenya’s first commercial oil discovery in South Lokichar basin’s Block 10BB/13T could generate $10 billion in revenue over a 30-year production period based on regional geological characteristics and well test results, according to an analyst with research and consulting firm GlobalData.

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