Oil & Gas Journal’s coverage of oil companies in the US and around the world plus a stock market tracker with company-specific information, press releases, and more.

Market Indices

Oil Companies News

India’s ONGC to invest in Daman development in Arabian Sea

Aug 29, 2014

India’s Oil & Natural Gas Corp. will invest $864.5 million to enhance natural gas and condensate production from its Tapti Daman block in the Arabian Sea.

Nexen boosts CNOOC’s first-half production

Aug 29, 2014

Nexen Energy ULC contributed 36.3 million boe during this year’s first half to CNOOC Ltd.’s total net oil and gas production of 211.6 million boe, a 6.8% year-over-year increase, the company reported. In comparison, Nexen produced 24.8 million boe in its first few months under CNOOC control during last year’s first half.

Fitch: Drilling downturn might prompt some consolidation

Aug 28, 2014

A cyclical downturn in offshore drilling might provide an opportunity for driller contractors having financial flexibility to buy their peers at favorable prices, Fitch Ratings of Chicago said in a recent research note, adding that master limited partnerships (MLPs) in particular can provide financial flexibility.

Verma named managing director at India’s ONGC Videsh

Aug 27, 2014

India’s ONGC Videsh Ltd. has named Narendra Verma its managing director. Verma’s previous positions include director of exploration of Maharatna ONGC and director of exploration for ONGC Videsh.

ExxonMobil Pipeline settles charges from 2012 Louisiana spill

Aug 27, 2014

Exxon Pipeline Co. agreed to pay more than $1.4 million to resolve federal charges that a 2012 spill from the company’s North Line near Torbert, La., violated the Clean Water Act, the US Department of Justice and Environmental Protection Agency jointly announced.

Parsley Energy adds Permian basin acreage

Aug 26, 2014

Parsley Energy Inc., Midland, Tex., has agreed to buy from “multiple sellers” undeveloped and productive acreage in Reagan County, Tex., for a total of about $252 million.

Shell reshuffles US shale assets in two major deals

Aug 25, 2014

Royal Dutch Shell PLC has agreed to two separate transactions in which it will exit its Pinedale and Haynesville onshore gas assets in exchange for $2.1 billion in cash and acreage in the Marcellus and Utica shale regions.

Offshore archaeology

Aug 25, 2014

Ships and a World War II-era German U-boat sunk in the Gulf of Mexico continue to make news decades after their discoveries by oil and gas companies conducting seafloor surveys.

Tesco appoints new president, chief executive officer

Aug 22, 2014

Tesco Corp., Houston, has named Fernando R. Assing, currently executive vice-president and chief operating officer, as the company’s next president and chief executive officer. Assing will succeed Julio M. Quintana, who will retire Jan. 1, 2015.

Agustiawan to step down as Pertamina president director

Aug 21, 2014

Karen Agustiawan, president director of PT Pertamina, has officially confirmed her plan to resign, ending her tenure effective Oct. 1.

Pemex outlines restructuring plans

Aug 21, 2014

Petroleos Mexicanos (Pemex) reported it is establishing affiliates to provide drilling, logistics, and electricity services as part of its corporate restructuring in response to Mexico’s sweeping energy reform that ended Pemex’s monopoly on oil and gas activities.

Western gulf lease sale attracts $110 million in high bids

Aug 20, 2014

Gulf of Mexico western planning area Lease Sale 238 drew 93 bids from 14 companies over 81 blocks covering 433,823 acres, totaling $109,951,644 in apparent high bids, reported the US Bureau of Ocean Energy Management (BOEM), which held the event on Aug. 20 in New Orleans.

Lawler to lead BP’s US Lower 48 onshore business

Aug 20, 2014

BP PLC has appointed David Lawler as chief executive officer of its Houston-based US Lower 48 onshore business that’s slated to formally become a separate entity in early 2015.

Shell reshuffles US shale assets in two major deals

Aug 14, 2014

Royal Dutch Shell PLC has agreed to two separate transactions in which it will exit its Pinedale and Haynesville onshore gas assets in exchange for $2.1 billion in cash and acreage in the Marcellus and Utica shale regions.

Rex Energy to acquire Marcellus, Utica acreage

Aug 14, 2014

Rex Energy Corp., State College, Pa., has agreed to acquire 100% interest in 208,000 gross acres prospective for the Marcellus, Upper Devonian-Burkett, and Utica shales in Pennsylvania and Ohio from Swepi LP, an affiliate of Royal Dutch Shell PLC, for $120 million in cash. The transaction is expected to close in September.

Commodity Index

Oil Company Featured Articles

High cost of maintaining Eagle Ford roads strains DeWitt County

Aug 13, 2014

Development of the Eagle Ford shale has transformed rural DeWitt County, Tex., into one of the top oil and gas producing counties in Texas, bringing with it a welcome economic stimulus.

New development expected to arrest European offshore decline

Aug 4, 2014

After playing a pivotal role in the European economy for decades, offshore hydrocarbon production has declined steeply in recent years and is struggling to arrest the dive.

OGJ100 group posts higher 2012 output, lower earnings

Sep 2, 2013

The latest compilation of the top 100 oil and gas producers outside the US reported much weaker financial results for 2012, as a result of a weak economy, higher costs, and sluggish energy prices.

OGJ150 earnings down as US production climbs

Sep 2, 2013

The dramatic slide of US natural gas and natural gas liquids prices, large differential between West Texas Intermediate and Brent prices, weak energy demand growth, and increased capital and operating costs in 2012 are reflected in the financial results posted by the companies on the OGJ150 group.

Barnett at DFW provides lessons on shale gas projects at US airports

Aug 5, 2013

US airfield owners are lured by attractive signing bonuses to lease their shale acreage. But shale operators cannot always fulfill their promises to drill, and the Dallas-Fort Worth Barnett shale field development project shows some winners and losers.

FOCUS: UNCONVENTIONAL OIL & GAS: EIA-ARI issues update of world assessment of shale oil, shale gas

Jul 1, 2013

Countries outside the US and Canada have vast quantities of hydrocarbons yet to be tapped from shale formations, said a June assessment released by the US Energy Information Administration, which commissioned Advanced Resources International Inc. to compile the updated report.

FOCUS: UNCONVENTIONAL OIL & GAS — Montney, Duvernay will be key to Canada shale oil, gas growth

Apr 1, 2013

The oil and gas industry continues working to develop unconventional plays in British Columbia and Alberta, particularly oil and liquids with an emphasis toward the Duvernay and Montney in the Western Canada Sedimentary Basin (WCSB).

Oil & Gas Webcasts

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This webcast, sponsored by Iron Mountain and Aggreko, is to be presented by OGJ Editor Bob Tippee, will summarize the Midyear Forecast projections ...
Jul 22, 2014

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Oil & Gas Conferences

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Offshore Middle East Conference & Exhibition

January 26, 2015
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