More Production Operations News

Moody’s: Marcellus shale gas producers to benefit most in US

Apr 1, 2014

Natural gas producers in the Marcellus shale will benefit more than producers elsewhere in the US because of many favorable circumstances, even if prices were to decline to 2012 levels, Moody’s said in a recent report.

Roc farms in to PSC offshore Malaysia

Apr 1, 2014

Fresh from its sale of the Basker-Manta-Gummy (BMG) fields in Bass Strait, Roc Oil Co. Ltd. has farmed in to a production-sharing contract offshore Malaysia.

Husky, CNOOC start production from Liwan 3-1

Mar 31, 2014

Husky Energy Inc., Calgary, and CNOOC Ltd. reported the start of production from Liwan 3-1 field in the South China Sea.

Lukoil starts production at West Qurna-2 field

Mar 31, 2014

Lukoil Mid-East Ltd. has started production at Iraq’s West Quarna-2 oil field after reaching its target of 120,000 b/d on Mar. 28. The company says it must maintain that level of production for the next 90 days to begin receiving a return on investment, based on a 2010 agreement with the Iraqi government.

EIA: Tight-oil production pushes up US supply

Mar 31, 2014

US tight-oil production averaged 3.22 million b/d in fourth-quarter 2013, pushing overall US crude production to more than 10% of the world's total production, up from 9% in fourth-quarter 2012, according to the US Energy Information Administration.

White House eyes steps to curb oil, gas methane emissions

Mar 29, 2014

The White House announced additional steps to reduce methane emissions from oil and gas operations as part of a broader strategy. They included regulations to be proposed later this year by the US Bureau of Land Management to curb natural gas flaring on public lands.

Sinopec reveals Fuling field production capacity goals

Mar 25, 2014

Sinopec plans to develop Fuling shale gas field in southwestern China to a production capacity of 10 billion cu m (bcm)/year by 2017, the company said.

IEA: Global oil demand revised upward on stronger data

Mar 24, 2014

Global oil demand in 2013 rose by 1.3 million b/d year-over-year to 91.3 million b/d, according to the latest, near-complete set of demand data for the year, the International Energy Agency said in its most recent monthly Oil Market Report.

Santos brings Peluang gas development on stream

Mar 24, 2014

Santos Ltd., Adelaide, has started natural gas production from its Peluang development offshore the Indonesian island of Java.

Cenovus gets AER approval for Grand Rapids oil sands project

Mar 21, 2014

Cenovus Energy Inc. reported that it has received approval from the Alberta Energy Regulator (AER) for its wholly owned Grand Rapids thermal oil sands project 300 km north of Edmonton in the company’s Greater Pelican Region in northern Alberta.

Shell lets contracts for Majnoon development

Mar 18, 2014

Shell Iraq Petroleum Development BV has let engineering and procurement services contracts to Foster Wheeler Kentz Energy Services DMCC, Dubai, for Shell’s Majnoon field in Iraq. The 2-year contracts include concept selection, front-end design, detailed design, procurement, and contract services, said Foster Wheeler Kentz.

Ivanhoe halts Tamarack oil sands project citing lack of regulatory ‘clarity’

Mar 18, 2014

Ivanhoe Energy Inc. has suspended activity on its Tamarack oil sands project pending approval for its thermal oil sands application from the government of Alberta.

Madagascar Oil provides Tsimiroro field activity update

Mar 18, 2014

Madagascar Oil Ltd. reported that its steam-flood pilot (SFP) in Tsimiroro heavy oil field has increased oil production from 222 b/d in December 2013 to 425 b/d in February. The results of the pilot, scheduled to end by this year’s second quarter, will determine if the company proceeds with a commerciality declaration later this year.

Moniz wants closer look at methane emissions across gas system

Mar 17, 2014

US Energy Secretary Ernest G. Moniz called for more scrutiny of methane emissions from natural gas operations beyond exploration and production.

EIA: Harsh winter affected US heating expenditures, oil production

Mar 17, 2014

Worldwide liquids fuels consumption will increase by 1.2 million b/d this year and by 1.4 million b/d in 2015, according to the US Energy Information Administration.

Market Connection

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