More Production Operations News

MARKET WATCH: NYMEX, Brent continue upward momentum

Apr 17, 2015

Crude oil prices for May delivery climbed for a sixth consecutive day on both New York and London markets Apr. 16, which analysts attributed to signs of a possible slowing in US oil production.

Japanese group investing in deepwater FPSO offshore Brazil

Apr 16, 2015

Four Tokyo-based companies are investing in a 20-year charter for a floating production, storage, and offloading vessel to be moored in 765 m of water offshore Brazil in fourth-quarter 2017.

Chevron group plans decommissioning of Thevenard Island facilities

Apr 16, 2015

A group led by Chevron Corp. has submitted plans to decommission the Thevenard Island oil and gas facilities on and offshore Thevenard Island in Western Australia.

Gulfport Energy to acquire Paloma Partners III

Apr 16, 2015

Gulfport Energy Corp., Oklahoma City, has agreed to acquire Paloma Partners III LLC, Houston, for $300 million. The deal is expected to close in the third quarter.

IEA forecasts higher 2015 global oil demand

Apr 15, 2015

In its April Oil Market Report, the International Energy Agency raised its forecast of 2015 global oil demand by 90,000 b/d to 93.6 million b/d, a gain of 1.1 million b/d on the year and a notable acceleration of the 700,000-b/d growth in 2014, as the global economy slowly gains momentum.

More witnesses urge Congress to repeal US crude oil export ban

Apr 15, 2015

The US crude oil export ban is a 1970s anachronism that could hobble US production growth and restrict economic improvement if it is not repealed, three witnesses told a House Foreign Affairs Subcommittee’s hearing on the matter. A fourth witness, however, warned that ending the export ban would lead to a hazardous US production increase that would then possibly lead to greater greenhouse gas (GHG) emissions and threats to public safety.

AEO2015: US on track to eliminate net energy imports by 2030

Apr 15, 2015

Continued growth in oil and natural gas production, growth in the use of renewables, and the application of demand-side efficiencies show the potential to eliminate net US energy imports in the 2020 to 2030 timeframe, according to projections in the Annual Energy Outlook 2015 (AEO2015), released by the US Energy Information Administration. The US has been a net importer of energy since the 1950s.

Vaalco starts oil production from Etame 12-H offshore Gabon

Apr 14, 2015

Vaalco Energy Inc., Houston, reported a production rate of 2,000 b/d of oil on a gross basis—500 b/d net to the company—with no indication of hydrogen sulfide from the Etame 12-H development well offshore Gabon.

Subsea contract let for Triton FPSO in North Sea

Apr 14, 2015

Technip was let a brownfield subsea contract for the replacement of certain subsea assets associated with the Triton floating production, storage, and offloading vessel, operated by Dana Petroleum PLC unit Dana Petroleum (E&P) Ltd. in the central North Sea. The FPSO lies 193 km east of Aberdeen in 90 m of water.

Bertram field starts up offshore Malaysia

Apr 14, 2015

Bertram oil field has started production from four predrilled development wells flowing through wellhead platform into a floating production, storage, and offloading vessel off the east coast of Peninsular Malaysia.

Ungani native title agreements completed

Apr 14, 2015

Buru Energy Ltd., Perth, and its joint venture partner Mitsubishi have completed the third and final native title agreement paving the way for securing a production licence over Ungani oil field onshore Canning basin in Western Australia.

Topside ready for tow-out to Edvard Grieg

Apr 14, 2015

Edvard Grieg oil and gas field offshore Norway has moved toward a fourth-quarter production start with completion of the platform topside at the Kvaerner ASA yard in Stord.

DOI proposes new offshore BOP, well-control regulations

Apr 14, 2015

The US Department of the Interior proposed offshore oil and gas well-control regulations with more stringent design requirements and operational procedures for blowout preventers (BOPs) and blowout prevention technologies.

IHS: Eagle Ford completions pending

Apr 13, 2015

US oil producers operating in the Eagle Ford shale in South Texas built an inventory of nearly 1,400 drilled but uncompleted (DUC) wells, said an analysis from IHS, which noted that the most promising of these wells belong to a few operators.

EIA: Global oil inventories continue to build

Apr 13, 2015

Global oil production continues to exceed demand, resulting in inventory builds, according to the US Energy Information Administration's most recent Short-Term Energy Outlook (STEO).

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