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WoodMac: Industry cash flow breakevens down by $20/bbl with rapid strategic response

Rapid and aggressive strategic response by oil and gas companies to low oil prices has driven industry cash flow breakevens down by $20/bbl to $72/bbl, according to a recent analysis of Wood Mackenzie. If oil prices remain at current levels, further cuts would be required to achieve cash flow neutrality, WoodMac said. For some companies, this will mean selling assets, others may suspend or limit dividend and buyback programs.

Report highlights UKCS profitability slide

The slumping profitability of oil and gas work offshore the UK is evident in a new government report.

MARKET WATCH: NYMEX oil prices rise but analysts advise caution

US light, sweet crude oil prices climbed on the New York market Apr. 10 but analysts warned that market fundamentals still lack a strong trend that would indicate a near-term oil-price recovery.

IHS: Eagle Ford completions pending

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.

Noble, Edison enter PL001 in North Falkland basin

Noble Energy Inc. has acquired 75% interest and operatorship of the PL001 license in the North Falkland basin from Argos Resources Ltd. Edison International SPA has obtained the remaining 25%.

In Texas, the mood about jobs is not all that's blue

To a loyal resident, the only time Texas looks better in the rearview mirror is when oil prices have crashed.

FWS lists northern long-eared bat as threatened species

The US Fish & Wildlife Service designated the northern long-eared bat (NLEB) a threatened species, but attached an interim special rule that it said eliminates unnecessary regulatory requirements for landowners, land managers, government agencies, and others in the animal's multistate range.

OGJ Newsletter

International news for oil and gas professionals

Swaps may be a way around US oil export impasse, CSIS forum told

Crude oil swaps may be a realistic short-term alternative to outright repeal of the US crude export ban for US refiners as well as producers, a speaker suggested at a Center for Strategic and International Studies forum.

EIA: Global oil inventories continue to build

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).

NTSB: Build more robust tank cars to carry crude

The National Transportation Safety Board (NTSB) issued four urgent recommendations calling for construction of more robust tank cars to carry crude oil, ethanol, and other highly combustible liquids via rail.

Watching Government: Fighting for offshore access

Amid loud celebrations of US onshore oil and gas potential from tight shale formations, National Ocean Industries Association Pres. Randall B. Luthi works hard to remind policymakers that what's waiting to be discovered and produced offshore still matters.

RFF speakers relay challenges faced by Alaskan offshore oil developers

Significant problems ranging from the lack of deepwater ports and spill-response systems to potential impacts on wildlife and indigenous populations need to be solved before US Arctic offshore oil exploration and production moves ahead, speakers agreed at a Resources for the Future (RFF) event.

FWS's new ANWR management plan won't change coastal plain status yet

The US Fish & Wildlife Service formally adopted a previously announced plan to begin managing the Arctic National Wildlife Refuge as wilderness (OGJ Online, Jan. 26, 2015), but stopped short of designating ANWR's coastal plain as a wilderness study area that effectively would close it to oil and gas exploration and development.

Shell to acquire BG Group for $70 billion

Royal Dutch Shell PLC has agreed to acquire BG Group PLC in a $70.1-billion cash and shares deal intended to sharpen Shell's focus on integrated gas projects and deep water.

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Texas A&M University at Qatar (TAMUQ) (http://www.qatar.tamu.edu/) invites applications for the position of Chair of the Petroleum Engineering Program at the rank of associate or full professor, with an anticipated starting date of July 1, 2015. Texas A&M at Qatar is a partnership with Qatar Foundation, and it is based in a state-of-the-art, 595,000 square foot building that was completed in 2007.

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Texas A&M University at Qatar (TAMUQ) (http://www.qatar.tamu.edu/) invites applications for the position of Chair of the Petroleum Engineering ...
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Novus International, Inc., a $1B+ privately held company, is a global leader in developing animal health and nutrition solutions. The Novus corporate mission is to help feed the world affordable, wholesome food by supplying superior goods and services to the leading commercial food producers worldwide. The company owns the world's largest methionine plant located at Chocolate Bayou, Texas and is in the early stages of building another plant at a site on the gulf coast of Texas or Louisiana.

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