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HOUSTON -- Landmark Software and Services, a Halliburton business line, has acquired Neftex Petroleum Consultants Limited, a UK-based company specializing in sequence stratigraphy-based products and consulting for subsurface risk reduction. The Neftex Earth Model integrates millions of data points to deliver a global overview of the geological history and resource development of the earth.
WASHINGTON D.C. -- The Energy Department has conditionally authorized LNG Development Co., LLC (Oregon LNG) to export domestically produced LNG to countries that do not have a Free Trade Agreement (FTA) with the U.S., from the Oregon LNG Terminal in Warrenton, Oregon.
WASHINGTON, D.C. -- The Federal Energy Regulatory Commission (FERC) has authorized Freeport LNG Development, L.P. to site, construct, and operate facilities to liquefy and export domestic natural gas from its existing LNG import terminal located near the city of Freeport, Brazoria County, Texas.
HOUSTON (Bloomberg) -- ConocoPhillips said oil and natural gas output in Texas and North Dakota surged in the second quarter as the company focuses on North American production in a bid for higher and more stable returns. Production for the third-largest U.S. energy company rose to the equivalent of 1.556 MMbbl of oil a day from 1.552 million a year earlier, Houston-based ConocoPhillips said in a statement.
CALGARY, Alberta (Bloomberg) -- Suncor Energy’s spending on scaling back its Joslyn oil-sands mining project led Canada’s largest oil producer to post a 69% profit slump to the lowest in six quarters.
TULSA, Oklahoma – WPX Energy has officially named J. Kevin Vann as S.V.P. and CFO. Vann has more than 20 years of experience in accounting and risk management.
IRVING, Texas (Bloomberg) -- Exxon Mobil Corp. fell after reporting worldwide oil and natural gas production declined to the lowest level in almost five years.
THE HAGUE, Netherlands (Bloomberg) -- Royal Dutch Shell Plc beat analyst second-quarter earnings estimates while pushing ahead with a restructuring program that saw it write off about $1.9 billion in U.S. gas assets. Profit excluding one-time items and inventory changes gained 33% to $6.1 billion from $4.6 billion a year earlier partly on higher U.S. energy prices, The Hague-based Shell said July 31 in a statement. That beat the $5.6 billion average estimate of 18 analysts surveyed by Bloomberg.
ArcLight reports agreements to construct and operate new crude oil gathering, storage and transmission systems in the core of the Eagle Ford Shale BOSTON ArcLight Capital Partners, LLC (ArcLight) reported that Republic Midstream, LLC (Republic Midstream), a newly formed portfolio
RKI reports exchange agreement with Chesapeake Energy for Powder River basin, Wyoming Properties OKLAHOMA CITY RKI Exploration & Production, LLC (RKI) reported that it has entered into an Exchange Agreement with Chesapeake Energy Corporation (CHK), for properties located in the
FORT WORTH, Texas -- Quicksilver Resources' wholly-owned subsidiary, Quicksilver Resources Canada Inc. (QRCI), has filed an application with the Canadian National Energy Board to export up to 20 mtpa of LNG from its Discovery LNG site located near Campbell River, British Columbia.
THE WOODLANDS, Texas -- Newfield Exploration Company has announced the signing of a $588 million purchase and sale agreement for its Granite Wash assets to Oklahoma City-based Templar Energy LLC (operating through Le Norman Operating LLC). Newfield' s assets in the Granite Wash include approximately 42,000 net acres and current net daily production is nearly 65 MMcfed, of which approximately 60% is natural gas. Proved net reserves at year-end 2013 were approximately 38 MMboe.
WASHINGTON, D.C. (Bloomberg) -- U.S. and European Union sanctions against Russia’s Vladimir Putin threaten to shut off some of the world’s largest energy companies from one of the biggest untapped energy troves on the planet. As violence escalates in eastern Ukraine between government and separatist forces, the EU sought to punish Russia for its involvement by restricting exports of deep-sea drilling and shale-fracturing technologies. The U.S. followed suit, with President Barack Obama announcing a block on specific goods and technologies exported to the Russian energy sector.
SM Energy acquires Baytex Bakken assets for $330 mn CALGARY, Alberta Baytex Energy Corp (Baytex) reported that it has entered into an agreement to sell its North Dakota assets (the Assets) to SM Energy Company, effective July 1, 2014, for
THE WOODLANDS, Texas (Bloomberg) -- Anadarko Petroleum Corp., the global explorer under investor pressure to grow after paying almost $10 billion in legal claims since 2011, beat second quarter profit estimates and raised growth forecasts as output rose to a record.
U.S. DOE anounces steps to reduce methane emissions by modernizing natural gas infrastructure WASHINGTON D.C. – The White House and the Department of Energy hosted the fifth in a series of meetings on reducing methane emissions from natural gas systems.
OKLAHOMA CITY, Oklahoma (Bloomberg) -- Chesapeake Energy Corp., the U.S. natural gas producer that almost ran out of money last year, is spending $1.71 billion to expand access to oil-soaked shale in Wyoming and buy back preferred shares that were a drain on cash. Chesapeake will repurchase $1.26 billion of preferred shares of its CHK Utica unit that burned through $75 million a year in dividends, enough to drill more than a dozen shale wells, the Oklahoma City-based company said in a statement.
LAFAYETTE, Louisiana -- Variable Bore Rams has expanded with a new distribution center in Midland, Texas, President Hines M. “Chip” Marshall Jr. announced.
NEW YORK (Bloomberg) -- West Texas Intermediate crude traded near the lowest level in almost two weeks before data on fuel supplies and economic strength in the U.S., the world’s biggest oil consumer. Brent was steady in London.
SUGAR LAND, Texas -- FairfieldNodal has announced that Sam Moharir has joined the company as the senior director of system sales, reporting to Walter Pharris, FairfieldNodal’s president and CEO.
GALVESTON, Texas (Bloomberg) -- The Iraqi Oil Ministry persuaded a U.S. judge to issue an order for the seizure of more than $100 million of oil in a tanker waiting off Galveston, Texas, that it claims was illegally pumped from wells in Kurdistan. Kurdish officials “misappropriated” more than 1 MMbbl of oil from northern Iraq and exported it through a Turkish pipeline, according to a complaint filed on July 28 in federal court in Houston.
FortisBC awards Tilbury LNG expansion project to Bechtel SURREY, British Columbia FortisBC Energy Inc. (FortisBC) reported that it has selected Bechtel Canada Co. (Bechtel) as the contractor for its Tilbury LNG Facility Expansion Project in Delta, B.C. (the Project). The
Post Oak Energy Capital commits $150 mn to CP Exploration II, LLC HOUSTON, Texas Post Oak Energy Capital, LP (Post Oak), through investment partnerships it manages, reported that it committed to a $150 million line of equity to CP Exploration
Schramm names Bobby Bryan as COO WEST CHESTER, Pennsylvania Schramm Inc, reported that industry veteran Bobby Bryan has been appointed to the newly created position of Chief Operating Officer (COO) based in West Chester, PA. The position was created to
GALVESTON, Texas (Bloomberg) -- The Iraqi Oil Ministry persuaded a U.S. judge to issue an order to seize more than $100 million of oil waiting to offload in Galveston, Texas, that it claims was illegally pumped from wells in Kurdistan.
Oil well completions up 5% in Q2, API says WASHINGTON, D.C. Estimated U.S. oil well completions increased by 5% in the second quarter of 2014 compared to year ago levels, according to API' s 2014 Quarterly Well Completion Report, Second Quarter.
NEW YORK (Bloomberg) -- West Texas Intermediate crude dropped for the fourth time in five days as economic data may signal slowing growth in the U.S., the world’s biggest oil consumer. Brent declined in London.
DENVER and HOUSTON -- Oil production from shale formations in North Dakota and Texas increased by more than 33% in June, according to Bentek Energy, an analytics and forecasting unit of Platts.
WASHINGTON, D.C. -- The Federal Energy Regulatory Commission (FERC) has authorized Freeport LNG Development, L.P. to site, construct, and operate facilities to liquefy and export domestic natural gas from its existing LNG import terminal located near the city of Freeport, Brazoria County, Texas.
HOUSTON (Bloomberg) -- ConocoPhillips said oil and natural gas output in Texas and North Dakota surged in the second quarter as the company focuses on North American production in a bid for higher and more stable returns. Production for the third-largest U.S. energy company rose to the equivalent of 1.556 MMbbl of oil a day from 1.552 million a year earlier, Houston-based ConocoPhillips said in a statement.
CALGARY, Alberta (Bloomberg) -- Suncor Energy’s spending on scaling back its Joslyn oil-sands mining project led Canada’s largest oil producer to post a 69% profit slump to the lowest in six quarters.
IRVING, Texas (Bloomberg) -- Exxon Mobil Corp. fell after reporting worldwide oil and natural gas production declined to the lowest level in almost five years.
TULSA, Oklahoma – WPX Energy has officially named J. Kevin Vann as S.V.P. and CFO. Vann has more than 20 years of experience in accounting and risk management.
THE HAGUE, Netherlands (Bloomberg) -- Royal Dutch Shell Plc beat analyst second-quarter earnings estimates while pushing ahead with a restructuring program that saw it write off about $1.9 billion in U.S. gas assets. Profit excluding one-time items and inventory changes gained 33% to $6.1 billion from $4.6 billion a year earlier partly on higher U.S. energy prices, The Hague-based Shell said July 31 in a statement. That beat the $5.6 billion average estimate of 18 analysts surveyed by Bloomberg.
ArcLight reports agreements to construct and operate new crude oil gathering, storage and transmission systems in the core of the Eagle Ford Shale BOSTON ArcLight Capital Partners, LLC (ArcLight) reported that Republic Midstream, LLC (Republic Midstream), a newly formed portfolio
RKI reports exchange agreement with Chesapeake Energy for Powder River basin, Wyoming Properties OKLAHOMA CITY RKI Exploration & Production, LLC (RKI) reported that it has entered into an Exchange Agreement with Chesapeake Energy Corporation (CHK), for properties located in the
FORT WORTH, Texas -- Quicksilver Resources' wholly-owned subsidiary, Quicksilver Resources Canada Inc. (QRCI), has filed an application with the Canadian National Energy Board to export up to 20 mtpa of LNG from its Discovery LNG site located near Campbell River, British Columbia.
THE WOODLANDS, Texas -- Newfield Exploration Company has announced the signing of a $588 million purchase and sale agreement for its Granite Wash assets to Oklahoma City-based Templar Energy LLC (operating through Le Norman Operating LLC). Newfield' s assets in the Granite Wash include approximately 42,000 net acres and current net daily production is nearly 65 MMcfed, of which approximately 60% is natural gas. Proved net reserves at year-end 2013 were approximately 38 MMboe.
WASHINGTON, D.C. (Bloomberg) -- U.S. and European Union sanctions against Russia’s Vladimir Putin threaten to shut off some of the world’s largest energy companies from one of the biggest untapped energy troves on the planet. As violence escalates in eastern Ukraine between government and separatist forces, the EU sought to punish Russia for its involvement by restricting exports of deep-sea drilling and shale-fracturing technologies. The U.S. followed suit, with President Barack Obama announcing a block on specific goods and technologies exported to the Russian energy sector.
SM Energy acquires Baytex Bakken assets for $330 mn CALGARY, Alberta Baytex Energy Corp (Baytex) reported that it has entered into an agreement to sell its North Dakota assets (the Assets) to SM Energy Company, effective July 1, 2014, for
THE WOODLANDS, Texas (Bloomberg) -- Anadarko Petroleum Corp., the global explorer under investor pressure to grow after paying almost $10 billion in legal claims since 2011, beat second quarter profit estimates and raised growth forecasts as output rose to a record.
U.S. DOE anounces steps to reduce methane emissions by modernizing natural gas infrastructure WASHINGTON D.C. – The White House and the Department of Energy hosted the fifth in a series of meetings on reducing methane emissions from natural gas systems.
OKLAHOMA CITY, Oklahoma (Bloomberg) -- Chesapeake Energy Corp., the U.S. natural gas producer that almost ran out of money last year, is spending $1.71 billion to expand access to oil-soaked shale in Wyoming and buy back preferred shares that were a drain on cash. Chesapeake will repurchase $1.26 billion of preferred shares of its CHK Utica unit that burned through $75 million a year in dividends, enough to drill more than a dozen shale wells, the Oklahoma City-based company said in a statement.
LAFAYETTE, Louisiana -- Variable Bore Rams has expanded with a new distribution center in Midland, Texas, President Hines M. “Chip” Marshall Jr. announced.
SUGAR LAND, Texas -- FairfieldNodal has announced that Sam Moharir has joined the company as the senior director of system sales, reporting to Walter Pharris, FairfieldNodal’s president and CEO.
GALVESTON, Texas (Bloomberg) -- The Iraqi Oil Ministry persuaded a U.S. judge to issue an order for the seizure of more than $100 million of oil in a tanker waiting off Galveston, Texas, that it claims was illegally pumped from wells in Kurdistan. Kurdish officials “misappropriated” more than 1 MMbbl of oil from northern Iraq and exported it through a Turkish pipeline, according to a complaint filed on July 28 in federal court in Houston.
FortisBC awards Tilbury LNG expansion project to Bechtel SURREY, British Columbia FortisBC Energy Inc. (FortisBC) reported that it has selected Bechtel Canada Co. (Bechtel) as the contractor for its Tilbury LNG Facility Expansion Project in Delta, B.C. (the Project). The
BP’s second quarter profit rises on U.S. oil output boost NIDAA BAKHSH LONDON (Bloomberg) BP Plc, reported a 34% increase in second quarter profit while warning that increasing sanctions against Russia could “adversely impact” business. Earnings adjusted for one time
Post Oak Energy Capital commits $150 mn to CP Exploration II, LLC HOUSTON, Texas Post Oak Energy Capital, LP (Post Oak), through investment partnerships it manages, reported that it committed to a $150 million line of equity to CP Exploration
Schramm names Bobby Bryan as COO WEST CHESTER, Pennsylvania Schramm Inc, reported that industry veteran Bobby Bryan has been appointed to the newly created position of Chief Operating Officer (COO) based in West Chester, PA. The position was created to
GALVESTON, Texas (Bloomberg) -- The Iraqi Oil Ministry persuaded a U.S. judge to issue an order to seize more than $100 million of oil waiting to offload in Galveston, Texas, that it claims was illegally pumped from wells in Kurdistan.
Oil well completions up 5% in Q2, API says WASHINGTON, D.C. Estimated U.S. oil well completions increased by 5% in the second quarter of 2014 compared to year ago levels, according to API' s 2014 Quarterly Well Completion Report, Second Quarter.
NEW YORK (Bloomberg) -- West Texas Intermediate crude dropped for the fourth time in five days as economic data may signal slowing growth in the U.S., the world’s biggest oil consumer. Brent declined in London.
DENVER and HOUSTON -- Oil production from shale formations in North Dakota and Texas increased by more than 33% in June, according to Bentek Energy, an analytics and forecasting unit of Platts.
GAIL, Sumimoto to pursue LNG opportunities together NEW DELHI GAIL (India) Limited reported the signing of a Memorandum of Understanding (MOU) with Sumitomo Corporation, Japan (Sumitomo). Under the MOU, GAIL and Sumitomo will pursue business opportunities in natural gas and
Liquefied Natural Gas looks to Europe with Canadian export plans JAMES PATON WEST PERTH, Australia (Bloomberg) Liquefied Natural Gas Ltd., whose shares have posted an 11 fold gain in Sydney trading this year, expects a proposed export project in Canada
MEXICO CITY (Bloomberg) -- Petroleos Mexicanos cut its output forecast to the lowest in at least 24 years as mature fields are shrinking faster than it had previously expected. The forecast was lowered to 2.41 MMbopd from a prior projection of 2.5 million, said Gustavo Hernandez, Pemex’s head of exploration and production.
NEW YORK -- Trilantic Capital Partners, a global private equity firm, and Ward Petroleum Corporation have announced their partnership in a newly formed oil and gas exploration and production company, Ward Energy Partners (WEP). WEP will focus operations in various basins in Oklahoma and Eastern Colorado
MEXICO CITY (Bloomberg) -- Petroleos Mexicanos posted its seventh consecutive quarterly loss as production at the state- owned oil monopoly plummeted to its lowest levels in 19 years. The Mexico City-based company’s net loss of 52.2 billion pesos ($4.02 billion) widened from a 49 billion-peso loss a year ago, the producer known as Pemex said in a statement. Sales increased 4.1% to 409 billion pesos. Pemex is counting on a landmark law enacted last year that opens Mexico’s energy industry to private competition for the first time since 1938 to help stem declining output.
DECATUR, Texas -- Circulation Solutions, a products company specializing in lost circulation issues, has appointed Jerry Beeson as CEO. Based in Decatur, Texas, Beeson will oversee all corporate management functions and play a direct role in all departments. Beeson previously served as V.P. of sales where he led the company’s sales and business development initiatives.
BOULDER, Colorado (Bloomberg) -- A fracing ban in the city of Longmont, Colorado, was thrown out by a judge amid petition drives to hold a statewide vote in November on restricting oil and gas drilling that generate $30 billion a year. The debate over fracing has escalated in Colorado as drilling moves closer to suburbs, raising concerns about water and air contamination. Five communities in the state have voted to ban or put a moratorium on such activity.
WTI set for weekly drop amid rising fuel supplies, Brent steady BEN SHARPLES and GRANT SMITH NEW YORK (Bloomberg) West Texas Intermediate headed for the third weekly decline this month amid speculation that rising U.S. gasoline stockpiles signal reduced demand
Diamond’s BlackRhino takes low rate amid deep water rig glut DAVID WETHE HOUSTON, Texas (Bloomberg) A glut of deep water drilling rigs is dragging down share prices and threatening revenue for operators that are being forced to accept lower day
Breitburn to buy QR Energy for $3 bn to add oil production SIMON CASEY LOS ANGELES, California (Bloomberg) Breitburn Energy Partners LP, a U.S. energy exploration and production company, agreed to acquire QR Energy LP for about $3 billion including
HOUSTON -- Scientific Drilling International (SDI) has announced the completion of its 500th MagTraC MWD Ranging project earlier this month.
CALGARY, Alberta (Bloomberg) -- Talisman Energy Inc. said it’s been approached by Repsol SA, Spain’s largest oil company, “with regards to various transactions.”
WASHINGTON, D.C. (Bloomberg) -- The Obama administration proposed phasing out older tank cars tied to a deadly derailment a year ago and lowering speed limits as part of a set of new rules intended to reduce the risks of hauling crude oil. The proposal, which follows a series of fiery accidents, also will require improved braking systems and testing of crude oil before being loaded, according to a Transportation Department statement on July 23. The rule applies to shipments of corn-based ethanol as well as oil.
WASHINGTON, D.C. (Bloomberg) -- The Obama administration will propose train speed limits and studier rail tank cars as part of a set of new rules intended to reduce the risks of hauling crude oil, two people familiar with the plan said. The draft proposal, which follows a series of fiery accidents, will also require improved braking systems as well as testing of crude oil before being loaded, the two people said.
MADRID (Bloomberg) -- Repsol SA is exploring a bid for Talisman Energy Inc. as it looks to deploy cash it received as compensation for the loss of its stake in Argentina’s YPF SA, according to people familiar with the matter. Repsol identified Talisman as a top target and is working with JPMorgan Chase & Co. as it evaluates the deal, one of the people said, asking not to be identified discussing private matters. Repsol is considering acquisitions as it seeks growth outside its home market.
Mobile methane measurements help locate leaks from wells and pipelines, reports LGR MOUNTAIN VIEW, California Los Gatos Research (LGR), a member of the ABB Group, reported the successful application of its laser based Fast Greenhouse Gas Analyzer for mobile monitoring
Preferred Technology’s silica dust prevention proppant test wells surpass OSHA standards RADNOR, Pennsylvania Preferred Technology, an affiliate of Preferred Sands recently completed a series of successful DustPRO™ proppant pilot wells in Colorado. Designed to meet OSHA regulations regarding crystalline silica
FMC Technologies reports second quarter 2014 diluted earnings per share of $0.95 HOUSTON, Texas FMC Technologies Inc (FTI) reported second quarter 2014 revenue of $2.0 billion, up 16% from the prior year quarter. Diluted earnings per share were $0.95 compared
Paradigm offers Geolog Petrel connector in its latest Geolog release HOUSTON, Texas Paradigm reported that it has released the latest version of its industry leading Geolog® formation evaluation and petrophysics analysis solution suite. The release includes a plug in that
LQT Industries awarded five new construction projects BROUSSARD, Louisiana LQT Industries, reported that it has recently been awarded new construction projects from five clients in the oil and gas industry. The projects will be built at LQT' s construction facility in
SwRI to lead separation technology joint industry project SAN ANTONIO, Texas Southwest Research Institute (SwRI) reported the launch of a multi million dollar joint industry project to better understand oil and gas separation technology. The objective of the Separation Technology
HOUSTON -- Scientific Drilling International (SDI) has announced the completion of its 500th MagTraC MWD Ranging project earlier this month.
CALGARY, Alberta (Bloomberg) -- Talisman Energy Inc. said it’s been approached by Repsol SA, Spain’s largest oil company, “with regards to various transactions.”
WASHINGTON, D.C. (Bloomberg) -- The Obama administration proposed phasing out older tank cars tied to a deadly derailment a year ago and lowering speed limits as part of a set of new rules intended to reduce the risks of hauling crude oil. The proposal, which follows a series of fiery accidents, also will require improved braking systems and testing of crude oil before being loaded, according to a Transportation Department statement on July 23. The rule applies to shipments of corn-based ethanol as well as oil.
WASHINGTON, D.C. (Bloomberg) -- The Obama administration will propose train speed limits and studier rail tank cars as part of a set of new rules intended to reduce the risks of hauling crude oil, two people familiar with the plan said. The draft proposal, which follows a series of fiery accidents, will also require improved braking systems as well as testing of crude oil before being loaded, the two people said.
MADRID (Bloomberg) -- Repsol SA is exploring a bid for Talisman Energy Inc. as it looks to deploy cash it received as compensation for the loss of its stake in Argentina’s YPF SA, according to people familiar with the matter. Repsol identified Talisman as a top target and is working with JPMorgan Chase & Co. as it evaluates the deal, one of the people said, asking not to be identified discussing private matters. Repsol is considering acquisitions as it seeks growth outside its home market.
Mobile methane measurements help locate leaks from wells and pipelines, reports LGR MOUNTAIN VIEW, California Los Gatos Research (LGR), a member of the ABB Group, reported the successful application of its laser based Fast Greenhouse Gas Analyzer for mobile monitoring
Preferred Technology’s silica dust prevention proppant test wells surpass OSHA standards RADNOR, Pennsylvania Preferred Technology, an affiliate of Preferred Sands recently completed a series of successful DustPRO™ proppant pilot wells in Colorado. Designed to meet OSHA regulations regarding crystalline silica
FMC Technologies reports second quarter 2014 diluted earnings per share of $0.95 HOUSTON, Texas FMC Technologies Inc (FTI) reported second quarter 2014 revenue of $2.0 billion, up 16% from the prior year quarter. Diluted earnings per share were $0.95 compared
Paradigm offers Geolog Petrel connector in its latest Geolog release HOUSTON, Texas Paradigm reported that it has released the latest version of its industry leading Geolog® formation evaluation and petrophysics analysis solution suite. The release includes a plug in that
LQT Industries awarded five new construction projects BROUSSARD, Louisiana LQT Industries, reported that it has recently been awarded new construction projects from five clients in the oil and gas industry. The projects will be built at LQT' s construction facility in
SwRI to lead separation technology joint industry project SAN ANTONIO, Texas Southwest Research Institute (SwRI) reported the launch of a multi million dollar joint industry project to better understand oil and gas separation technology. The objective of the Separation Technology
Claxton focuses on growth with new V.P. GREAT YARMOUTH, United Kingdom -- Claxton Engineering Services, an Acteon company, has appointed Martin Jolley as V.P. sales and commercial to spearhead its global sales and commercial strategy. Providing leadership and vision to direct the company’s sales, marketing, comm
Diamondback Energy to buy Midland basin oil and gas assets for $538 mn MIDLAND, Texas Diamondback Energy Inc (Diamondback) reported the Company has entered into a definitive purchase agreement with unrelated third party sellers to acquire additional leasehold interests in
WASHINGTON, DC -- Livestock were the single largest source of methane gas emissions in the United States in 2004, releasing 70% more of the powerful greenhouse gas into the atmosphere than the oil and gas industry, according to a new study.
MIDLAND, Texas (Bloomberg) -- Traders are turning to trains and trucks to clear a glut of crude in West Texas that’s threatening to keep prices in the largest U.S. oil basin depressed for months.
HOUSTON -- FMC Technologies has signed an agreement which establishes a joint industry program that includes Anadarko Petroleum Corporation, BP, ConocoPhillips and Shell for the purpose of jointly developing a new generation of standardized subsea production equipment and systems designed to meet the challenges of producing oil and gas from deepwater reservoirs with pressures of up to 20,000 psi and temperatures of 350°F at the mudline.
HOUSTON (Bloomberg) -- Halliburton Co. expects continued improvement in the North American hydraulic fracturing market and is “immediately” adding crews to begin work later this year. The world’s largest provider of the service that blasts water, sand and chemicals underground to free trapped hydrocarbons, expects third-quarter operating profit margins in the region to be near 20%, the company said in a statement. Second-quarter earnings were 32% above the results from the same period last year. Sales climbed 10% to $8.1 billion.
WASHINGTON, D.C. (Bloomberg) -- The Obama administration took a step toward allowing oil and gas drilling off seven Atlantic Coast states for the first time in decades, establishing guidelines for seismic testing that would gauge offshore reserves. The decision doesn’t authorize the tests, done by ships towing guns that blast high intensity sound waves into the water. The Interior Department will consider applications for testing in light of safety standards to mitigate risks to ocean life, the head of the agency’s Bureau of Ocean Energy Management said.
Claxton focuses on growth with new V.P. GREAT YARMOUTH, United Kingdom -- Claxton Engineering Services, an Acteon company, has appointed Martin Jolley as V.P. sales and commercial to spearhead its global sales and commercial strategy. Providing leadership and vision to direct the company’s sales, marketing, comm
SPRING, Texas -- Integrated Drilling Equipment Holdings has announced the appointment of Jim Terry, 60, as CEO, effective immediately. Terry replaces the former CEO, Stephen Cope, who resigned in April of this year. Effective with his CEO appointment, Terry will also become a member of IDE' s Board of Directors.
Diamondback Energy to buy Midland basin oil and gas assets for $538 mn MIDLAND, Texas Diamondback Energy Inc (Diamondback) reported the Company has entered into a definitive purchase agreement with unrelated third party sellers to acquire additional leasehold interests in
HOUSTON -- Halliburton has announced the promotion of Jeff Miller, currently the company’s executive V.P. and COO, to president and his appointment to the Halliburton Board of Directors effective August 1, 2014. In this new role, Miller will complement the leadership of Dave Lesar, Halliburton’s chairman and CEO.
WASHINGTON, DC -- Livestock were the single largest source of methane gas emissions in the United States in 2004, releasing 70% more of the powerful greenhouse gas into the atmosphere than the oil and gas industry, according to a new study.
MIDLAND, Texas (Bloomberg) -- Traders are turning to trains and trucks to clear a glut of crude in West Texas that’s threatening to keep prices in the largest U.S. oil basin depressed for months.
HOUSTON -- FMC Technologies has signed an agreement which establishes a joint industry program that includes Anadarko Petroleum Corporation, BP, ConocoPhillips and Shell for the purpose of jointly developing a new generation of standardized subsea production equipment and systems designed to meet the challenges of producing oil and gas from deepwater reservoirs with pressures of up to 20,000 psi and temperatures of 350°F at the mudline.
HOUSTON (Bloomberg) -- Halliburton Co. expects continued improvement in the North American hydraulic fracturing market and is “immediately” adding crews to begin work later this year. The world’s largest provider of the service that blasts water, sand and chemicals underground to free trapped hydrocarbons, expects third-quarter operating profit margins in the region to be near 20%, the company said in a statement. Second-quarter earnings were 32% above the results from the same period last year. Sales climbed 10% to $8.1 billion.
WASHINGTON, D.C. (Bloomberg) -- The Obama administration took a step toward allowing oil and gas drilling off seven Atlantic Coast states for the first time in decades, establishing guidelines for seismic testing that would gauge offshore reserves. The decision doesn’t authorize the tests, done by ships towing guns that blast high intensity sound waves into the water. The Interior Department will consider applications for testing in light of safety standards to mitigate risks to ocean life, the head of the agency’s Bureau of Ocean Energy Management said.
HOUSTON (Bloomberg) -- Kinder Morgan Energy Partners LP is asking Canadian regulators to intervene to allow it to study land in Burnaby, British Columbia, where it faces opposition to the C$5.4 billion ($5 billion) expansion of its Trans Mountain oil pipeline.
CALGARY, Alberta (Bloomberg) -- Encana Corp. is preparing to sell its Deep Panuke offshore project in Nova Scotia later this year, according to people familiar with the matter, as Canada’s largest natural gas producer shifts production toward more oil. The company’s shares rose. Encana is working with financial advisers as it explores a sale, which may raise $1 billion to $2 billion, the people said, asking not to be identified discussing private information. The Calgary-based company could begin a formal process in the coming months, with a transaction expected before the end of the year, said one of the people.
HOUSTON (Bloomberg) -- Schlumberger’s 11th consecutive quarter of beating analysts’ earnings estimates failed to impress investors as the largest oilfield servicer said the world’s economic situation will be slow to change.
HØVIK, Norway -- In the first comprehensive overview of its kind, DNV GL has mapped out what is necessary to be in compliance with U.S. Coast Guard (USCG) requirements to operate FOIs, FSOs and FPSOs in U.S. waters. The roadmap document called “Verification for compliance with United States regulations on the outer continental shelf,” follows from the U.S. Coast Guard’s policy letter last year, accepting approval plans and inspections from the class societies DNV GL, Lloyd’s Register, and ABS as basis of USCG approval.
KATY, Texas -- With officials of the state of Texas examining the environmental impact of drilling operations, oil and gas companies are eagerly looking for new ways to make their drilling operations and consequent waste disposal more environmentally acceptable. New attention is being focused on potential contamination from drill cuttings and the oil-based drilling fluids that convey them.
WASHINGTON, D.C. -- Bureau of Ocean Energy Management (BOEM) Acting Director Walter Cruickshank has announced that the bureau will offer more than 21 million acres offshore Texas for oil and gas exploration and development in a lease sale that will include all available unleased areas in the Western Gulf of Mexico Planning Area.
DENVER, Colorado (Bloomberg) -- Colorado Governor John Hickenlooper and business leaders vowed to do “whatever it takes” to defeat initiatives proposed for the fall ballot that would restrict oil and gas drilling generating $30 billion a year for the state economy.
ENGLEWOOD, Colorado (Bloomberg) -- The four-decade-old ban on most crude exports from the U.S., now the world’s largest producer, will be weakened bit by bit as government rulings allow exceptions, say energy analysts including IHS Inc. The Commerce Department’s permission for Enterprise Products Partners LP and Pioneer Natural Resources Co. to ship abroad ultra-light oil known as condensate foreshadows a chain of incremental actions that will chip away at the restriction until it’s obsolete. As much as 1.2 MMbpd may be freed for export on the recent rulings alone.
MOSCOW (Bloomberg) -- OAO Rosneft, the world’s biggest publicly traded oil producer by volume, said U.S. sanctions over the Ukraine conflict were “illegitimate” and wouldn’t change the company’s strategy. The financial position of Russia’s largest oil producer is “robust” and operating cash flow will allow current projects to continue while maintaining dividend payments, the Moscow-based company said in a statement July 18.
Cheniere, EDF sign 20 year LNG sale and purchase agreement HOUSTON Cheniere Energy Inc (Cheniere) reported that its subsidiary, Corpus Christi Liquefaction, LLC (Corpus Christi Liquefaction), has entered into a LNG sale and purchase agreement (SPA) with Electricite de France
Aubrey McClendon seeks another $2 bn in U.S. oil hunt JOE CARROLL and BRADLEY OLSON OKLAHOMA CITY, Oklahoma (Bloomberg) Aubrey McClendon, the shale wildcatter who’s raised $1 million an hour since leaving Chesapeake Energy Corp. last year, is seeking another
DENVER, Colorado (Bloomberg) -- Colorado Governor John Hickenlooper said he doesn’t have enough votes to pass legislation allowing more community control over oil and gas drilling, paving the way for a fight on the November ballot that is expected to be the most expensive in the state’s history.
LONDON (Bloomberg) -- The U.S. shale-gas boom is placing 30 million jobs at risk in Europe as companies with greater reliance on energy contend with higher fuel prices than their American counterparts, the International Energy Agency said. Manufacturers of petrochemicals, aluminum, fertilizers and plastics are leaving Europe to take advantage of booming U.S. production of natural gas from shale rock formations, Fatih Birol, chief economist for the International Energy Agency, a Paris-based adviser to 29 nations, said at a conference in London.
HOUSTON -- Deep Down, a services company specializing in complex deepwater and ultra-deepwater oil production distribution system support services, has been awarded a contract to supply vessel-based equipment and personnel at an umbilical and flexible flow line recovery and re-installation project located offshore West Africa.
CALGARY, Alberta (Bloomberg) -- Athabasca Oil Corp., the Canadian company awaiting a C$1.32 billion ($1.23 billion) payment from PetroChina Co., fell the most in two months after a Chinese newspaper reported that an executive tied to the companies’ partnership is being probed.
MOSCOW (Bloomberg) -- OAO Rosneft, the world’s biggest publicly traded oil producer by volume, will rely on deals with China to withstand the latest U.S. sanctions against Russia. The state-run company is scheduled to receive $63 billion of advance payments under long-term crude-supply contracts from 2014 to 2018, mostly from the Chinese clients, Andrey Polischuk, an energy analyst at ZAO Raiffeisenbank in Moscow, said by phone.
HAMILTON, Bermuda (Bloomberg) -- Gulf Keystone Petroleum Ltd. founder Todd Kozel has turned down a seat on the board after retiring last month as CEO of the oil explorer with fields in Kurdistan. Kozel declined to take up a previously announced post of executive director, the Bermuda-based company said in a statement. He will continue to have a role in the company, maintaining its relationship with the Kurdistan Regional Government, Chairman Simon Murray said in the statement.
MEXICO CITY (Bloomberg) -- The energy legislation draft approved by Mexican senate committees is favorable given low national content requirements and short-term economic growth prospects, according to analysts. The proposed secondary energy laws call for a 25% national content minimum for incoming companies by 2015 that will increase to 35% by 2025.
New Standard provides update on Atascosa project production WEST PERTH New Standard Energy Limited (New Standard) confirms 30 day Initial Production (IP) rates for the Peeler Ranch 5H and 6H wells, located in the company’s Atascosa Project in the USA,
Blackbird Energy enters into farm out agreement at its Mantario oil project CALGARY Blackbird Energy (Blackbird) reported that is has entered into a Farmout Agreement (the Agreement) with a private oil and gas investment company (PrivateCo) to drill the first
Ukraine crisis U.S. sanctions hit Rosneft, Novatek MARGARET TALEV and INDIRA A. R. Lakshmanan WASHINGTON D.C. (Bloomberg) The Obama administration imposed sanctions on large Russian banks, energy companies and defense firms, the latest escalation in the confrontation over Ukraine and
HOUSTON -- Dow Oil, Gas & Mining, a business unit of The Dow Chemical Company, has been awarded a 2014 R&D 100 Award from R&D Magazine for the DOW NEPTUNE advanced subsea flow assurance insulation system. The NEPTUNE system is based on a new, proprietary insulation material that offers uniform, high performance from the well-head to the delivery point, along with the widest installation and operating temperature range of any wet insulation system on the market.
THE WOODLANDS, Texas (Bloomberg) -- Anadarko Petroleum Corp., the explorer that owns 8 million acres of mineral rights in the Rocky Mountains, said the holdings are accelerating beyond last year’s $675 million revenue boost. The disclosure has encouraged investors who want The Woodlands, Texas-based company to sell some interest in the land or find a way to more fully recognize its value, said Fadel Gheit, an analyst with Oppenheimer & Co. in New York.
NEW YORK (Bloomberg) -- West Texas Intermediate rose from the lowest price since May as crude stockpiles shrank in the U.S. Brent recovered from a three-month low as China’s economic growth exceeded forecasts.
OTTAWA, Ontario (Bloomberg) -- Canadian regulators will extend their review of Kinder Morgan Energy Partners LP’s Trans Mountain pipeline expansion because of a route change, delaying a federal decision on the C$5.4 billion ($5 billion) project. The National Energy Board will defer its recommendation to the Canadian government on the project by six months to January 2016, from July 2015 previously. A route change recently proposed by Houston-based Kinder Morgan requires more study, Sarah Kiley, a spokeswoman for the regulator, said on a call with reporters.
WASHINGTON, D.C. (Bloomberg) -- A four-decade-old ban on crude exports from the U.S. will survive another year, the chairman of the U.S. House’s Energy and Commerce Committee said. Policy makers need time to decide whether to lift the 1975 prohibition on exporting most crude, “and that won’t happen this year,” Fred Upton, a Michigan Republican, said at an energy conference in Washington. The U.S. allows shipments of refined products including gasoline and diesel.
Petsec Energy commences production from onshore Louisiana gas discovery SYDNEY Petsec Energy reported that its recent gas discovery the Adeline Sugar Factory (ASF) No. 4 well which reached a total depth of 15,300’ on 9 May 2014, commenced production on
WASHINGTON, D.C. (Bloomberg) -- The Obama administration took a step toward allowing oil and gas drilling off seven Atlantic Coast states for the first time in decades, establishing guidelines for seismic testing that would gauge offshore reserves. The decision doesn’t authorize the tests, done by ships towing guns that blast high intensity sound waves into the water. The Interior Department will consider applications for testing in light of safety standards to mitigate risks to ocean life, the head of the agency’s Bureau of Ocean Energy Management said.
HOUSTON (Bloomberg) -- Kinder Morgan Energy Partners LP is asking Canadian regulators to intervene to allow it to study land in Burnaby, British Columbia, where it faces opposition to the C$5.4 billion ($5 billion) expansion of its Trans Mountain oil pipeline.
CALGARY, Alberta (Bloomberg) -- Encana Corp. is preparing to sell its Deep Panuke offshore project in Nova Scotia later this year, according to people familiar with the matter, as Canada’s largest natural gas producer shifts production toward more oil. The company’s shares rose. Encana is working with financial advisers as it explores a sale, which may raise $1 billion to $2 billion, the people said, asking not to be identified discussing private information. The Calgary-based company could begin a formal process in the coming months, with a transaction expected before the end of the year, said one of the people.
HOUSTON (Bloomberg) -- Schlumberger’s 11th consecutive quarter of beating analysts’ earnings estimates failed to impress investors as the largest oilfield servicer said the world’s economic situation will be slow to change.
HØVIK, Norway -- In the first comprehensive overview of its kind, DNV GL has mapped out what is necessary to be in compliance with U.S. Coast Guard (USCG) requirements to operate FOIs, FSOs and FPSOs in U.S. waters. The roadmap document called “Verification for compliance with United States regulations on the outer continental shelf,” follows from the U.S. Coast Guard’s policy letter last year, accepting approval plans and inspections from the class societies DNV GL, Lloyd’s Register, and ABS as basis of USCG approval.
KATY, Texas -- With officials of the state of Texas examining the environmental impact of drilling operations, oil and gas companies are eagerly looking for new ways to make their drilling operations and consequent waste disposal more environmentally acceptable. New attention is being focused on potential contamination from drill cuttings and the oil-based drilling fluids that convey them.
WASHINGTON, D.C. -- Bureau of Ocean Energy Management (BOEM) Acting Director Walter Cruickshank has announced that the bureau will offer more than 21 million acres offshore Texas for oil and gas exploration and development in a lease sale that will include all available unleased areas in the Western Gulf of Mexico Planning Area.
DENVER, Colorado (Bloomberg) -- Colorado Governor John Hickenlooper and business leaders vowed to do “whatever it takes” to defeat initiatives proposed for the fall ballot that would restrict oil and gas drilling generating $30 billion a year for the state economy.
ENGLEWOOD, Colorado (Bloomberg) -- The four-decade-old ban on most crude exports from the U.S., now the world’s largest producer, will be weakened bit by bit as government rulings allow exceptions, say energy analysts including IHS Inc. The Commerce Department’s permission for Enterprise Products Partners LP and Pioneer Natural Resources Co. to ship abroad ultra-light oil known as condensate foreshadows a chain of incremental actions that will chip away at the restriction until it’s obsolete. As much as 1.2 MMbpd may be freed for export on the recent rulings alone.
MOSCOW (Bloomberg) -- OAO Rosneft, the world’s biggest publicly traded oil producer by volume, said U.S. sanctions over the Ukraine conflict were “illegitimate” and wouldn’t change the company’s strategy. The financial position of Russia’s largest oil producer is “robust” and operating cash flow will allow current projects to continue while maintaining dividend payments, the Moscow-based company said in a statement July 18.
Cheniere, EDF sign 20 year LNG sale and purchase agreement HOUSTON Cheniere Energy Inc (Cheniere) reported that its subsidiary, Corpus Christi Liquefaction, LLC (Corpus Christi Liquefaction), has entered into a LNG sale and purchase agreement (SPA) with Electricite de France
Aubrey McClendon seeks another $2 bn in U.S. oil hunt JOE CARROLL and BRADLEY OLSON OKLAHOMA CITY, Oklahoma (Bloomberg) Aubrey McClendon, the shale wildcatter who’s raised $1 million an hour since leaving Chesapeake Energy Corp. last year, is seeking another
DENVER, Colorado (Bloomberg) -- Colorado Governor John Hickenlooper said he doesn’t have enough votes to pass legislation allowing more community control over oil and gas drilling, paving the way for a fight on the November ballot that is expected to be the most expensive in the state’s history.
LONDON (Bloomberg) -- The U.S. shale-gas boom is placing 30 million jobs at risk in Europe as companies with greater reliance on energy contend with higher fuel prices than their American counterparts, the International Energy Agency said. Manufacturers of petrochemicals, aluminum, fertilizers and plastics are leaving Europe to take advantage of booming U.S. production of natural gas from shale rock formations, Fatih Birol, chief economist for the International Energy Agency, a Paris-based adviser to 29 nations, said at a conference in London.
HOUSTON -- Deep Down, a services company specializing in complex deepwater and ultra-deepwater oil production distribution system support services, has been awarded a contract to supply vessel-based equipment and personnel at an umbilical and flexible flow line recovery and re-installation project located offshore West Africa.
CALGARY, Alberta (Bloomberg) -- Athabasca Oil Corp., the Canadian company awaiting a C$1.32 billion ($1.23 billion) payment from PetroChina Co., fell the most in two months after a Chinese newspaper reported that an executive tied to the companies’ partnership is being probed.
MOSCOW (Bloomberg) -- OAO Rosneft, the world’s biggest publicly traded oil producer by volume, will rely on deals with China to withstand the latest U.S. sanctions against Russia. The state-run company is scheduled to receive $63 billion of advance payments under long-term crude-supply contracts from 2014 to 2018, mostly from the Chinese clients, Andrey Polischuk, an energy analyst at ZAO Raiffeisenbank in Moscow, said by phone.
HAMILTON, Bermuda (Bloomberg) -- Gulf Keystone Petroleum Ltd. founder Todd Kozel has turned down a seat on the board after retiring last month as CEO of the oil explorer with fields in Kurdistan. Kozel declined to take up a previously announced post of executive director, the Bermuda-based company said in a statement. He will continue to have a role in the company, maintaining its relationship with the Kurdistan Regional Government, Chairman Simon Murray said in the statement.
MEXICO CITY (Bloomberg) -- The energy legislation draft approved by Mexican senate committees is favorable given low national content requirements and short-term economic growth prospects, according to analysts. The proposed secondary energy laws call for a 25% national content minimum for incoming companies by 2015 that will increase to 35% by 2025.
New Standard provides update on Atascosa project production WEST PERTH New Standard Energy Limited (New Standard) confirms 30 day Initial Production (IP) rates for the Peeler Ranch 5H and 6H wells, located in the company’s Atascosa Project in the USA,
Blackbird Energy enters into farm out agreement at its Mantario oil project CALGARY Blackbird Energy (Blackbird) reported that is has entered into a Farmout Agreement (the Agreement) with a private oil and gas investment company (PrivateCo) to drill the first
Ukraine crisis U.S. sanctions hit Rosneft, Novatek MARGARET TALEV and INDIRA A. R. Lakshmanan WASHINGTON D.C. (Bloomberg) The Obama administration imposed sanctions on large Russian banks, energy companies and defense firms, the latest escalation in the confrontation over Ukraine and
HOUSTON -- Dow Oil, Gas & Mining, a business unit of The Dow Chemical Company, has been awarded a 2014 R&D 100 Award from R&D Magazine for the DOW NEPTUNE advanced subsea flow assurance insulation system. The NEPTUNE system is based on a new, proprietary insulation material that offers uniform, high performance from the well-head to the delivery point, along with the widest installation and operating temperature range of any wet insulation system on the market.
THE WOODLANDS, Texas (Bloomberg) -- Anadarko Petroleum Corp., the explorer that owns 8 million acres of mineral rights in the Rocky Mountains, said the holdings are accelerating beyond last year’s $675 million revenue boost. The disclosure has encouraged investors who want The Woodlands, Texas-based company to sell some interest in the land or find a way to more fully recognize its value, said Fadel Gheit, an analyst with Oppenheimer & Co. in New York.
NEW YORK (Bloomberg) -- West Texas Intermediate rose from the lowest price since May as crude stockpiles shrank in the U.S. Brent recovered from a three-month low as China’s economic growth exceeded forecasts.
OTTAWA, Ontario (Bloomberg) -- Canadian regulators will extend their review of Kinder Morgan Energy Partners LP’s Trans Mountain pipeline expansion because of a route change, delaying a federal decision on the C$5.4 billion ($5 billion) project. The National Energy Board will defer its recommendation to the Canadian government on the project by six months to January 2016, from July 2015 previously. A route change recently proposed by Houston-based Kinder Morgan requires more study, Sarah Kiley, a spokeswoman for the regulator, said on a call with reporters.
WASHINGTON, D.C. (Bloomberg) -- A four-decade-old ban on crude exports from the U.S. will survive another year, the chairman of the U.S. House’s Energy and Commerce Committee said. Policy makers need time to decide whether to lift the 1975 prohibition on exporting most crude, “and that won’t happen this year,” Fred Upton, a Michigan Republican, said at an energy conference in Washington. The U.S. allows shipments of refined products including gasoline and diesel.
Petsec Energy commences production from onshore Louisiana gas discovery SYDNEY Petsec Energy reported that its recent gas discovery the Adeline Sugar Factory (ASF) No. 4 well which reached a total depth of 15,300’ on 9 May 2014, commenced production on
Petsec Energy completes sale of selected USA oil and gas interests SYDNEY Petsec Energy reported that it has completed the sale of its working interests in the Marathon and Main Pass 270 fields together with certain associated exploration interests to
Oxy' s California spinoff names CFO HOUSTON Occidental Petroleum Corporation (Oxy) reported the appointment of Marshall D. (Mark) Smith as Senior Executive Vice President and CFO for its subsidiary, California Resources Corporation. Following its separation from Occidental, California Resources Corporation will
RigNet rotates key line executives HOUSTON RigNet Inc reported several key executive moves Chris Lambert is now the Region Vice President, Gulf of Mexico Brian Keefover is now the Region Vice President, North America Land and Ricky Begnaud is now
HOUSTON -- Cameron has introduced the Mark IV control system, featuring a redundant, three-Point of Distribution (POD) design, as an option for its subsea BOPs.
WASHINGTON, D.C. (Bloomberg) -- Record natural gas production from the Marcellus shale deposit in the Northeast is helping send U.S. output to an all-time high, as hydraulic fracturing and horizontal drilling unlocked underground supplies. Gross output from the region will average 15.235 Bcf/d this month, up 28% from a year earlier, and 15.482 billion in August, the U.S. Energy Information Administration said July 14 in a monthly report. Marcellus gas accounts for about 16% of gross U.S. production, up from 2% in 2008.
HOUSTON – MicroSeismic has been awarded a large contract for hydraulic fracture monitoring services for RSP Permian. MicroSeismic will provide its integrated analysis and technology for combined acquisition services of surface and downhole in the Midland basin.
Brent falls to three month low on supply WTI near $100 GRANT SMITH and BEN SHARPLES LONDON (Bloomberg) Brent crude declined to the lowest level in more than three months as supply threats in Iraq abated. West Texas Intermediate crude
BISMARCK, North Dakota (Bloomberg) -- North Dakota, the second-largest oil-producing state in the U.S., expects output to surge through the summer as more benign weather gives roughnecks extra time to work in the field. Output rose about 3.6% to 1.04 MMbpd in May, the state’s Department of Mineral Resources reported. It was the largest increase since August.
WASHINGTON, D.C. (Bloomberg) -- Enterprise Products Partners LP and Pioneer Natural Resources Co., two of the first fuel suppliers to win approval to send U.S. condensates abroad, may be about to get some company. Less than a month after Enterprise and Pioneer said they received approval to export processed condensate, others are seeking the same permission, said Jacob Dweck, a partner at the law firm Sutherland Asbill & Brennan LLP, who represented Enterprise in its request to the U.S. Commerce Department. Dweck declined to identify the companies or say how many there were. The U.S. has prohibited most crude exports since 1975. Exports of products such as gasoline and diesel are legal.
John Wright, BEARCO join Wild well to deliver industry leading relief well engineering HOUSTON Wild Well Control, Inc. reported that BEARCO International’s personnel will be joining with Wild Well’s well control engineering group, bringing the relief well expertise of John
BISMARCK, North Dakota(Bloomberg) -- North Dakota, the second-largest oil-producing state in the U.S., saw output rise the most in nine months in May. Output increased to 1,039,635 bpd in May, the state’s Department of Mineral Resources reported. It increased by 36,379 bpd from April, the largest month-to-month jump since August. Texas, which extracts more than 3 MMbpd, is the only state producing more crude.
Older tank cars to be phased out under oil, rail industry offer JIM SNYDER and THOMAS BLACK WASHINGTON D.C. (Bloomberg) Oil companies and railroads that move crude have presented a joint plan to U.S. regulators that would phase out a
HOUSTON -- FTO Services has announced that construction of its new deepwater well intervention services vessel has been completed. The naming ceremony for the new vessel, Island Performer, was held in Ulsteinvik, Norway, on June 27. During the event, about 200 guests including executives from FTO Services, Edison Chouest Offshore and FMC Technologies sailed on a five-hour maiden voyage to celebrate the naming of the vessel.
STRATFORD, Conn. -- Sikorsky Aircraft Corp. announced today that it has begun delivering S-76D aircraft equipped for executive transport services. The announcement was made at the 2014 Farnborough Air Show in Farnborough, UK.
NEW YORK (Bloomberg) -- West Texas Intermediate crude headed toward $100 a barrel for the first time since May amid signs that Libyan output is continuing to increase. Brent crude traded near the lowest price in three months. Futures declined as much as 0.6% in New York, after capping a 3.1% decrease last week. Production from Libya, the holder of Africa’s biggest crude reserves, climbed to 470,000 bpd, state-run National Oil Corp. said July 13. Exports from Iraq, OPEC’s second-largest producer, remain undiminished by an insurgency that flared last month.
DENVER, Colorado (Bloomberg) -- Whiting Petroleum Corp.’s $3.8 billion purchase of Kodiak Oil & Gas Corp. will create the dominant crude-oil producer in the richest U.S. shale region as energy explorers seek access to future drilling opportunities.
LLOG Exploration names new CFO COVINGTON LLOG Exploration Co., reported that it has named Philip S. LeJeune as its CFO to replace John Newman who retired after serving as LLOG’s CFO for the last eleven years. LeJeune brings nearly twenty
CALGARY, Alberta (Bloomberg) -- Athabasca Oil Corp., the oil-sands developer in a partnership with PetroChina Co., fell to the lowest since January as it awaits a C$1.32 billion ($1.23 billion) payment from the Chinese company expected last month.
HOUSTON (Bloomberg) -- Rigs targeting oil in the U.S. hit a record for the fifth straight week as companies ramped up drilling in shale formations across the South. Oil rigs increased by one to 1,563, the most since Baker Hughes Inc. separated its oil and gas counts in 1987, the company’s website showed. They rose the most in the Granite Wash shale formation of Texas and Oklahoma and the Eagle Ford in South Texas. The gas count was unchanged at 311, the Houston-based field services company said.
Wall Street Oil prices will slump due to oversupply MARK SHENK NEW YORK (Bloomberg) New U.S. pipelines and a revival in Libyan supply are increasing the likelihood that oil prices will slump through year end after climbing in the first
OKLAHOMA CITY, Oklahoma (Bloomberg) -- Aubrey McClendon is returning to his wildcatter roots as the ousted co-founder of Chesapeake Energy Corp. prepares to tap the junk-bond market to help finance what will be the most highly leveraged energy exploration company. A unit of McClendon’s American Energy Partners LP is seeking $1.4 billion, according to a statement from Moody’s Investors Service, which assigned the debt a Caa1 rating.
PARIS (Bloomberg) -- Global oil demand will rise at the fastest pace in five years in 2015 as China leads gains in emerging economies, the International Energy Agency said. World oil consumption will increase next year by 1.4 MMbpd, the agency said in its first monthly report to assess 2015. The rate of growth will be the fastest since 2010. It’s also higher than a projected increase of 1.2 MMbpd in supplies from outside the Organization of Petroleum Exporting Countries, the agency said.
Oxy names CEO, Executive Chairman of California spinoff HOUSTON Occidental Petroleum Corporation (OXY) reported the leadership team for its subsidiary California Resources Corporation (CRC), appointing Todd A. Stevens as President and CEO, and William E. Albrecht as Executive Chairman of
Penn Virginia reports acquisition of Eagle Ford shale assets RADNOR Penn Virginia Corporation (PVA) reported that it has entered into a definitive agreement to acquire approximately 13,125 (11,660 net) Eagle Ford Shale acres in Lavaca County, Texas for approximately $45
SAN RAMON, California (Bloomberg) -- Chevron Corp., the world’s third-largest energy producer by market value, said more than half a billion dollars in asset sales helped lift second-quarter profit higher than the first three months of the year.
MEXICO CITY (Bloomberg) -- Petroleos Mexicanos, the country’s largest bond issuer, may sell more debt to fund JVs as the government ends its 75-year monopoly on oil production. Pemex has identified potential partners and plans to move “very fast” in establishing JVs after additional industry reform legislation is approved, CFO Mario Beauregard said July 9 in an interview in Mexico City. Financing to assist with projects in deep water and output from shale formations may be funded by increasing the company’s bond sales, which will total $10 billion this year, he said.
COVINGTON, Louisiana (Bloomberg) -- For more than 30 years, the Louisiana Offshore Oil Port LLC (LOOP) has been a symbol of U.S. dependence on foreign oil, pumping Nigerian and Saudi Arabian crude from the world’s biggest supertankers into underground storage caverns beneath the marshes of southern Louisiana. Now, with domestic production at a 28-year high, LOOP’s managers are thinking the previously unthinkable: They want to reverse the flows and send North American oil out as well as take foreign oil in.
NEW YORK (Bloomberg) -- West Texas Intermediate crude headed for a record-long slump as government data showed an expansion in supplies where the oil is stored, and demand for gasoline weakened. Brent, Europe’s benchmark, was little changed in London.
VIENNA, Austria (Bloomberg) -- OPEC predicted that demand for its crude will decline in 2015 to the lowest in six years as supplies from other producers, led by the U.S., are more than enough to cover the increase in global consumption. The need for crude from the Organization of Petroleum Exporting Countries will slide to 29.4 MMbpd next year even as growth in world oil consumption accelerates, the group said in its first assessment of 2015. That’s 300,000 bpd less than OPEC’s 12 members pumped in June. It would be the third consecutive annual drop in demand for OPEC crude and the lowest since 2009. The U.S. will provide about two-thirds of next year’s supply growth, OPEC said, amid a shale-oil surge that has made the U.S. the world’s biggest producer.
Advanced Logistics launches software upgrades LAFAYETTE Advanced Logistics LLC, recently launched updated versions of its Satellite Assisted Marine Management (SAMM™) and Preventer™ (preventative maintenance) software packages as well as its comprehensive, web based Logistics Management Suite family of applications. The
Propel SSP proppant transport technology excels in field trials SUGAR LAND, Texas Santrol, a Fairmount Minerals company reported Chesapeake Energy, described Propel SSP proppant transport technology “a technical success” following seven field trials. Chesapeake Energy presented the conclusion June 10
Sigma Cubed names Mark Bozich as Houston engineering manager HOUSTON, Texas Sigma Cubed Inc (SIGMA3) reported the appointment of Mark Bozich as Houston Engineering Manager. With 34 years of global energy services and operations experience and an expert in the
WASHINGTON, D.C. (Bloomberg) -- The oil industry’s largest lobbying group began a new effort to ease public fears about hydraulic fracturing after a legal setback in New York state and a voter push in Colorado to ban the drilling practice. The American Petroleum Institute released guidelines for improving community relations as fracing extends to more towns, raising concerns about pollution risks.
LONDON (Bloomberg) -- Brent crude traded at a one-month low amid signs Libyan oil exports will rebound. West Texas Intermediate was near the lowest closing price in more than a month before oil inventory data. Brent fell as much as 0.5% in London, while WTI was little changed after its longest decline since 2009. Crude stockpiles probably shrank by 2.5 MMbbl last week, a Bloomberg News survey shows. Libya, which has regained control of oil ports seized by rebels, plans to gradually increase exports to avoid disrupting the market, said Samir Kamal, the nation’s governor to the Organization of Petroleum Exporting Countries.
LINCOLN, Nebraska (Bloomberg) -- The Keystone XL pipeline’s proposed route through Nebraska was legally drawn, lawyers for the state told its Supreme Court in defending legislation, struck down by a state judge, that gave the job to the governor and the conduit’s builder. With President Barack Obama’s approval of TransCanada Corp.’s planned $5.4 billion pipeline still pending, Nebraska’s attorneys in a filing July 7 reiterated their argument for reversing Judge Stephanie Stacy’s February ruling in favor of landowners who challenged the route selection measure.
GE, Suncor Energy report new investments toward improving environmental performance in Alberta' s oil sands CALGARY GE and Suncor Energy reported the signing of two agreements which provide the opportunity for an investment of up to approximately $18 million. These agreements,
Steelhead LNG, Huu ay aht First Nations sign Opportunity Development Agreement for LNG project VANCOUVER Steelhead LNG Corp and the Huu ay aht First Nations (HFN) reported that they have signed an Opportunity Development Agreement that will see them work
TULSA, Oklahoma -- Randi Martinsen, principal with Hydrocarbon InSight in Laramie, Wyoming, has assumed the presidency of the American Association of Petroleum Geologists (AAPG). Martinsen’s one-year term began July 1. Martinsen, a native of New York City, is a former longtime senior lecturer of petroleum geology at the University of Wyoming, Laramie. She previously served on the AAPG Executive Committee as treasurer in 2006-08, and received the AAPG Distinguished Service Award in 2009.
PARIS -- Dan Hampson and Brian Russell of CGG have been awarded Honorary Membership of the Geophysical Society of Houston (GSH) during its 2014 Annual Honors and Awards Banquet. Honorary Membership of the GSH is conferred in recognition of a distinguished contribution to the geophysical profession. It is the highest award bestowed by the GSH and Russell and Hampson were the only recipients this year.
SUGAR LAND, Texas -- The Research Partnership to Secure Energy for America (RPSEA) announced that its board of directors has appointed James M. Pappas, P.E., to the position of acting president, effective June 1. The appointment follows the resignation of Dr. Robert W. Siegfried II.
ROSS, Ohio -- A JV of five industrial auction companies announced that it will sell the physical assets of the McDermott fabrication facility in Amelia, La. McDermott, an engineering, procurement, construction and installation specialist firm, continues to operate its fabrication facilities at multiple locations worldwide.
WASHINGTON, D.C. (Bloomberg) -- The U.S. Energy Information Administration increased its 2014 and 2015 price forecasts for West Texas Intermediate and Brent crudes because of the upsurge of violence in Iraq.
RICHARDSON, Texas – The Society of Petroleum Engineers (SPE) has named D. Nathan Meehan, senior executive adviser at Baker Hughes, as 2016 president of the international professional society. Meehan, who is based in Houston, Texas, will take office as president-elect on October 29, 2014, at the close of SPE’s Annual Technical Conference and Exhibition in Amsterdam, The Netherlands.
OKLAHOMA CITY, Oklahoma (Bloomberg) -- Squinting into a laptop perched on the back of his pickup, Austin Holland searches for a signal from a coffee-can-sized sensor buried under the grassy prairie. Holland, Oklahoma’s seismology chief, is determined to find the cause of an unprecedented earthquake epidemic in the state. And he suspects pumping wastewater from oil and gas drilling back into the Earth has a lot to do with it.
LONDON (Bloomberg) -- Brent crude fell below $110 a barrel, reversing a rally that started when Islamist militants seized the northern Iraqi city of Mosul almost a month ago. West Texas Intermediate also traded near a one-month low. Brent futures lost as much as 0.6% in London. While the Islamic State, a splinter group of al-Qaeda, has taken control of provinces in northwestern Iraq, the country’s oil exports are unaffected. The insurgency hasn’t spread to Iraq’s south, the source of more than three-quarters of its oil output. The nation’s semi-autonomous Kurds have said they will continue to guard Kirkuk, home to the nation’s fourth-largest oilfield.
Vard acquires STX Canada Marine for $10.55 mn ALESUND, Norway Vard has acquired STX Canada Marine Inc, a leading marine engineering and design company with more than 30 years history in North America, for approximately $10.55 million (NOK 65 million).
Forum Energy awarded contract for 4 ROVs from Marine Platforms HOUSTON Forum Energy Technologies, Inc. (FET) reported that it has received an order from Marine Platforms Limited (MPL) to supply four work class remotely operated vehicle (ROV) systems each complete
Warren Resources pays $353 mn for Citrus' Marcellus assets NEW YORK Warren Resources, Inc. (Warren) reported that it has executed a purchase and sale agreement to acquire essentially all of the Marcellus assets of Citrus Energy Corporation (Citrus) and two
CALGARY, Alberta (Bloomberg) -- Baytex Energy Corp. has identified assets that could be sold by yearend, in a process that one analyst said may raise as much as C$400 million ($375 million.) The Calgary-based oil and natural gas exploration and production company said the assets constitute 5% to 10% of current production. The review was launched after Baytex acquired Aurora Oil & Gas Ltd. this year, expanding its reach in the Eagle Ford formation in East Texas.
Saudi Aramco aims to produce tight gas at U.S. costs WAEL MAHDI DHAHRAN, Saudi Arabia (Bloomberg) Saudi Aramco plans to reduce the cost of producing natural gas from tight rock formations, putting it on equal footing to gas from the
HOUSTON -- Houston-headquartered ProSep has launched a new manufacturing service for third party clients at its purpose-built fabrication facility on Clara Road. ProSep has the capability to construct large structural fabrications, vessels and piping spools, as well as being able to fully assemble packaged equipment. The company, which offers a life-cycle portfolio of patented solutions to the global oil and gas industry has appointed Mark Hayes, former president of Tubular Structures International LLC McGregor, Texas, as general manager of the manufacturing division.
Brent oil trades near three week low on Libya supply, WTI Steady BEN SHARPLES NEW YORK (Bloomberg) Brent traded near the lowest price in more than three weeks as Libya prepares to increase exports and amid speculation that Iraqs crude
Dopeless® technology debuts in Alaska HOUSTON, Texas An important European national oil and gas company successfully drilled the first complete Dopeless® technology well in Alaska in March 2014. The operation took place at Alaska’s North Slope, located on the northern
HOUSTON (Bloomberg) -- Apache Corp., the energy company that has announced $9.8 billion of asset sales in the past year, is seeking a buyer for its interests in the Wheatstone LNG project, people familiar with the matter said. The oil and gas producer is in early discussions with potential buyers for its holdings in the A$29 billion ($27 billion) project in Western Australia, said the people, who asked not to be identified as the matter is private. Macquarie Group Ltd. and Goldman Sachs Group Inc. are advising Houston-based Apache on the sale, they said.
AIX-EN-PROVENCE, France (Bloomberg) -- Total SA CEO Christophe de Margerie said he sees no reason for oil purchases to be made in dollars, adding that it makes sense to expand the use of other currencies in transactions outside the U.S. “Nothing prevents anyone from paying for oil in euros,” de Margerie told journalists at the Cercle des Economistes conference in Aix-en-Provence, France. “The price of a barrel of oil is quoted in dollars. A refinery can take that price and using the euro-dollar exchange rate on any given day, agree to make the payment in euros.”
