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ExxonMobil ‘winding down’ Arctic well, complying with US, EU sanctions on Russia

ExxonMobil Corp. released a statement that the company is complying with all US sanctions on Russia after news reports that the operator had halted operations on its first arctic exploration well—University-1—in Russia’s Kara Sea.

ExxonMobil, Linn to make second asset exchange this year

ExxonMobil Corp. has agreed to trade interest in 500 net acres from South Belridge field near Bakersfield, Calif., to Linn Energy LLC, Houston, in exchange for 17,800 net acres encompassing the Permian basin in Texas and Delaware basin in New Mexico. The transaction, effective June 1, is expected to close in the fourth quarter.

Watching Government: A dubious anniversary

Sept. 19 marked 6 years of the Obama administration's deliberations on the proposed Keystone XL crude oil pipeline's crossborder permit application. Proponents and opponents duly observed the anniversary.

Wild Well completes second capping stack

Wild Well Control Inc., a subsidiary of Superior Energy Services, has completed a subsea capping stack stationed in Singapore to serve the area during a deepwater well control incident. The company’s first unit resides in Aberdeen.

Continental appoints president, chief operating officer

Continental Resources Inc., Oklahoma City, has named Jack Stark as president and chief operating officer. He succeeds W.F. Bott, who stepped down from the position last week.

AFPM launches web site to recruit refining, petchem employees

The American Fuel & Petrochemical Manufacturers launched a workforce development web site to provide information for anyone seeking a career in the two industries. “The refining and petrochemical industries want to let people know that we are hiring,” AFPM Pres. Charles T. Drevna said. “If you have a high school degree, or if you have a college degree, we want you to consider a career in these industries.”

Bill Barrett to divest Powder River, Piceance properties

Bill Barrett Corp., Denver, reported that it has agreed with several undisclosed buyers to sell the majority of its Powder River basin acreage and remaining position in the Gibson Gulch natural gas program in Colorado’s Piceance basin in deals totaling $757 million.

AAPG ICE: Turkey sees early shale oil development

Turkey is slightly larger than the state of Texas geographically, yet the country has only seen 4,400 wells drilled since 1940. While Texas’ oil history goes back much further, the state has seen more than 1.5 million wells drilled through 2013. “Turkey is largely unexplored,” said Lee Muncy, vice-president, geosciences at TransAtlantic Petroleum Ltd., during the AAPG International Conference and Exhibition

Giesler joins Miller as chief executive

Carl F. Giesler Jr. has joined Miller Energy Resources Inc., Knoxville, Tenn., as chief executive officer, replacing Scott M. Boruff, who is now executive chairman.

Miller seeks Buccaneer’s Alaskan assets

Miller Energy Resources Inc., Knoxville, Tenn., has signed a nonbinding letter of intent to buy Alaskan operating assets of Buccaneer Energy for $40-50 million.

US firms' reported earnings dip in second quarter

Second-quarter profits for a group of 53 US-based producers and refiners totaled $25.45 billion, which was down 8.1% from the same period in 2013.

August jobs report shows gains as US slowly recovers

The US unemployment rate fell by a tenth of a percentage point from July to August to 6.1%, level with June and down from 7.2% in August 2013. But what does that mean?

Roc Oil approves Fosun takeover bid

After the failure of the proposed Roc Oil-Horizon Oil merger, the board of Roc Oil Ltd., Sydney, has unanimously voted to accept the most recent $474 million (Aus.) all-cash takeover offer by Chinese combine Fosun International Group.

Wintershall to acquire interests off Norway

Wintershall has agreed to acquire a package of production, development, and pipeline interests offshore Norway from Statoil for $1.25 billion.

Linn completes acquisition of Pioneer’s Hugoton assets

Linn Energy LLC, Houston, has closed on its purchase of Hugoton field assets in Kansas from Pioneer Natural Resources Co., Dallas, for cash proceeds of $340 million.

Market Connections

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NOW HIRING: Director of Technical Services

Director of Technical Services: The Gas Processors Association, an international trade association, has an opening for an engineer to assume the du...
EOR ENGINEERS CCUS-specialized Co. seeking 2 EOR  engineers w/ 10+ yrs field exp. to design  & lead CO2 EOR projects in China.  Immediate hire.  Contact Evelyn Ray: erayking888@gmail.com or 917-864-2649

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Colorado School of Mines

Multiple Faculty Openings

Colorado School of Mines Petroleum Engineering Department invites applications for multiple full-time faculty positions.    
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Oil & Gas Conferences

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Offshore Middle East Conference & Exhibition

January 26, 2015
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