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BP intends to divest Texas Panhandle assets

BP America Production Co. said it intends to divest assets in the Hugoton and Panhandle West fields in Sherman and Moore counties in the Texas Panhandle. The company will retain deep rights below the base of the Brown Dolomite, it said.

Greenland in transition

USCG: 'Chain of errors' led to Shell drilling unit running aground

A US Coast Guard (USCG) investigation has found that a "chain of errors" led to the Royal Dutch Shell PLC conical drilling unit, the Kulluk, running aground on Sitkalidak Island, Alas., in December 2012.

ConocoPhillips raises estimates on Eagle Ford recoverable resources, production

ConocoPhillips has increased its estimated resource base in the Eagle Ford play to 2.5 billion bbl of oil in place from 1.8 billion bbl, as well as its estimated production from current volumes to more than 250,000 boe/d by 2017.

CNPC, Shell strengthen global cooperation

China National Petroleum Corp. (CNPC) and Royal Dutch Shell PLC have reached an agreement to deepen their strategic partnership by increasing cooperation in the development of both companies’ global projects.

OMV to ramp up drilling in lower Austria

OMV AG reported it will drill as many as 24 wells this year along with 20 wells in 2015 and 2016, respectively, in the Weinviertel region of lower Austria. Fourteen of those projects involve exploration wells with additional production potential, the company said.

Laclede Group to acquire Alagasco for $1.6 billion

Laclede Group Inc., St. Louis, has entered into an agreement with Energen Corp. to acquire subsidiary Alabama Gas Corp. (Alagasco) for $1.6 billion, with an effective purchase price of $1.34 billion.

OIES: US shale gas, tight-oil plays face financial woes

Financial problems of operators in US shale gas and tight oil plays might hold production growth below current expectations, according to the author of a March comment published by the Oxford Institute for Energy Studies (OIES).

Anadarko settles legacy claims against Kerr-McGee for $5.15 billion

Anadarko Petroleum Corp. and subsidiaries it acquired when it bought Kerr-McGee Corp. in 2006 agreed to pay $5.15 billion to settle fraudulent conveyance allegations brought by the US government and co-plaintiff Anadarko Litigation Trust in the bankruptcy of Tronox Inc.

LNG Ltd. unit appoints top executives

Liquefied Natural Gas Ltd. has named John G. Baguley as chief operating officer and Rick R. Cape as chief commercial officer for the company’s wholly owned, Houston-based subsidiary Magnolia LNG LLC (MLNG). Both executives will report directly to Maurice Brand, MLNG president.

Talisman aims to divest Timor Sea assets

Talisman Energy Inc., Calgary, has placed its Timor Sea production interests up for sale in a move to exit the Kitan and Laminaria-Corallina oil fields as soon as a buyer is found.

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Escalera Resources to form Albania joint venture

Escalera International Co. LLC, a subsidiary of Escalera Resources Co. (formerly Double Eagle Petroleum Co.), has signed a memorandum of understanding with AOR Albanian Oil Rafinery SHA (AOR) to form a joint venture to identify and acquire oil and gas drilling opportunities along with related facilities and infrastructure in Albania.

AFPM: Petrochemical industry needs skilled workers

The current boom in shale resource development has sparked an urgent need in the petrochemical industry for technically skilled workers to build, operate, and maintain about $100 billion of announced chemical projects, according to Peter L. Cella, president and chief executive officer of Chevron Phillips Chemical Co. LP.

Devon completes Canadian conventional assets sale

Devon Energy Corp., Oklahoma City, has completed the sale of its Canadian conventional assets to Canadian Natural Resources Ltd. for $3.125 billion (Can.).

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Offshore Middle East Conference & Exhibition

January 26, 2015
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