More Oil & Gas News

PetroChina reports first half results

PetroChina Co. Ltd. reported first-half increases in output of crude, natural gas, and refined products compared with a year earlier.

BLM brings its Master Leasing Plan concept to Utah

The US Bureau of Land Management’s Moab, Utah, field office began a 90-day comment period on Aug. 21 for a draft proposed Master Leasing Plan for 946,469 acres of public land overseen by the US Department of the Interior agency near the southeastern Utah community. The proposed MLP—Utah’s first—will follow a pattern BLM has used in developing similar plans in Colorado and Wyoming.

CNOOC net production up in first half

CNOOC Ltd. said first-half net production of oil and gas rose 13.5% to 240.1 million boe, primarily due to contributions from new projects in Bohai and the eastern South China Sea.

Apache taking Woodside to court over Wheatstone LNG cash dispute

Houston independent Apache Corp. is taking Woodside Petroleum Ltd. to court over an alleged unpaid $64 million cash call associated with the sale of Apache’s interest in the Wheatstone LNG project in Western Australia.

North Sea Midstream buys gas assets from Total for $905 million

North Sea Midstream Partners Ltd. (NSMP) has agreed to acquire 67% operated interest in the Shetland Island regional gas export system (SIRGE), 100% interest in the Frigg UK gas pipeline (FUKA), and 100% interest in the St. Fergus gas terminal from Total SA for $905 million.

MARKET WATCH: NYMEX, Brent crude oil price drop modestly

Crude oil prices dropped modestly on the New York market on Aug. 26 after a weekly government report showed an unexpected draw in US commercial crude oil inventories, helping light, sweet crude oil prices settle higher although the contract for October delivery remained under $39/bbl.

Sinopec reports earnings for first half

China Petroleum & Chemical Corp. (Sinopec) reported a first-half operating loss in exploration and production of 1.8 billion yuan while refining earned 15.3 billion yuan.

Court approves ExxonMobil’s environmental settlement with New Jersey

A New Jersey Superior Court judge approved a $225-million environmental settlement between the state and ExxonMobil Corp. to resolve environmental damages over several decades from refineries in Linden and Bayonne and retail outlets and other facilities across the state.

MARKET WATCH: NYMEX crude oil price rebounds but holds under $40/bbl

Crude oil prices bounced up on both New York and London markets on Aug. 25, gaining more than $1/bbl for US light, sweet crude while Brent crude oil prices gained about 50¢ on the same day that the People’s Bank of China announced it cut interest rates for the fifth time since November 2014.

Deloitte: Northern Territory bullish on shale gas

Development of a shale-gas industry in Northern Territory could drive significant long-term economic growth and generate as much as $1 billion (Aus.) of government revenue, according to recent study by Deloitte Access Economics commissioned by the Australian Petroleum Production & Exploration Association.

WoodMac: Eagle Ford production sees growth, despite slowdown

Eagle Ford wells brought online are expected to fall to around 2,700 from 4,000 in 2014, according to analyst group Wood Mackenzie Ltd. The company’s most recent analysis cites that production growth is slow in the near term, but the full effect of lower oil prices is moderated by improved recoveries in core areas.

Schlumberger to acquire Cameron in $14.8-billion deal

Schlumberger Ltd. has agreed to buy Cameron International Corp. in a deal valued at $14.8 billion. Company officials said the acquisition will position Schlumberger to better compete in the oil and gas industry’s current price environment.

Fossil fuel interests, others are fighting alternatives, Obama says

Fossil fuel interests, conservative think tanks, and groups funded by billionaires Charles and David Koch are fiercely fighting a growing wave of alternative energy in the US, President Barack Obama told participants at a clean energy conference in Las Vegas on Aug 24.

Knox to step down as Santos chief executive officer

Santos Ltd. reported that David Knox, managing director and chief executive officer, will step down after 7 years in the position once a successor has been appointed.

Encana sheds Haynesville assets in $850-million deal

Encana Oil & Gas (USA) Inc., a wholly owned subsidiary of Encana Corp., has agreed to sell its Haynesville natural gas assets in northern Louisiana to GEP Haynesville LLC, a joint venture formed by GeoSouthern Haynesville LP and funds managed by Blackstone Group LP’s GSO Capital Partners LP, for $850 million. The deal, effective Jan. 1, is expected to close in the fourth quarter.

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