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MOSCOW (Bloomberg) -- Schlumberger is withdrawing employees who are citizens of the U.S. and the European Union from Russia amid sanctions, two people with knowledge of the matter said. About 20 mid-level and senior managers will be pulled, one of the people said. Both asked not to be identified because they aren’t authorized to discuss the matter.
HOUSTON -- MicroSeismic and PanAmerican Geophysical Company have entered into a partnership to jointly provide microseismic monitoring services in select geographical areas. The partnership will initially focus on Latin America and Canada with subsequent expansion planned for other international locations. The joint services will combine PanAmerican’s substantial surface seismic capacity and expertise with MicroSeismic’s advanced hydraulic fracture monitoring (HFM) and completions evaluation and optimization services.
Dominion Cove Point LNG export terminal wins final U.S. approval JIM POLSON and MARK CHEDIAK RICHMOND, Virginia (Bloomberg) Dominion Resources won final U.S. approval to export LNG from an East Coast terminal it intends to place in a publicly traded
HOUSTON (Bloomberg) -- ConocoPhillips is shipping a cargo of Alaska North Slope crude to Asia, making rare use of a Bill Clinton-era exemption to U.S. oil export restrictions. Conoco, Alaska’s largest oil producer, will deliver the cargo to Asia in the fourth quarter, Houston-based company spokesman Daren Beaudo said by email. The shipment was first reported by Louisville, Kentucky-based Genscape Inc., an energy intelligence firm.
WASHINGTON, D.C. -- Increased drilling and improved drilling efficiency have led to significant crude oil production increases in the Eagle Ford region in southern Texas, the U.S. Energy Information Administration’s Today in Energy reports.
ASKER, Norway -- TGS has announced the first two ocean bottom projects in the shelf region of the U.S. Gulf of Mexico under its collaboration agreement with FairfieldNodal. The Calypso Full Azimuthal Nodal (FAN) survey is located in the Eugene Island protraction area and will cover 136 shelf blocks. The Nessie FAN survey represents 54 blocks of coverage in the South Timbalier protraction area and will cover a number of existing fields and exploratory acreage.
CALGARY, Alberta -- Encana Corporation has agreed to buy Texas-based Athlon Energy for $7.1 billion as the Canadian company seeks to boost oil production. The acquisition will add Athlon' s land position of approximately 140,000 net acres focused solely in the heart of the oil-rich Midland basin to Encana' s portfolio.
MOSCOW (Bloomberg) -- Russia, viewed by the Obama administration as hostile to U.S. interests, has discovered what may prove to be a vast pool of oil in one of the world’s most remote places with the help of America’s largest energy company. Russia’s state-run OAO Rosneft said a well drilled in the Kara Sea region of the Arctic Ocean with Exxon Mobil Corp. struck oil, showing the region has the potential to become one of the world’s most important crude-producing areas.
WASHINGTON, D.C. -- The U.S. energy renaissance is expected to generate vast growth in the supply chain of manufacturers, suppliers, and servicers that support America’s oil and natural gas sector, according to a new study by IHS Global. The study, commissioned by the Energy Equipment & Infrastructure Alliance (EEIA), calculates the expected growth in employment, GDP, government revenue, and wages in the supply chain that supports unconventional oil and natural gas development.
WASHINGTON, D.C. -- The American Petroleum Institute (API) has published a new set of recommended practices for testing and classifying crude oil for rail shipment and loading it into rail tank cars.
HOUSTON -- Nalco Champion and BP representatives recently participated in a contract signing event to officially commemorate a new chemical managed services global framework agreement (GFA) between the two companies. The 10-year GFA was awarded to Nalco Champion the beginning of Q2 2014 and includes the delivery of upstream and downstream specialty chemicals and related services.
HOUSTON -- Cubility, a provider of solids control solutions, has appointed Jose Limia as the company’s regional manager for North America. Limia’s role will be to grow sales of the MudCube technology across the North American market, with specific emphasis on offshore drilling operations in the Gulf of Mexico.
PITTSBURGH, Pennsylvania -- Atlas Resource Partners (ARP) is to acquire oil assets in the Eagle Ford shale in south Texas for $225 million. The assets consist of 22 producing wells and 19 undeveloped locations containing estimated net reserves of approximately 12 MMboe.
MELBOURNE -- BHP Billiton and Pemex have signed a memorandum of understanding and cooperation (MOU) to exchange technical knowledge, information, experiences and practices in activities related to the oil and gas industry.
STAVANGER, Norway -- Statoil has decided to postpone the previously planned Corner field development at the Kai Kos Dehseh oil sands project in Alberta, Canada.
LONDON -- The results of Mexico’s upcoming bidding round for 109 exploration blocks and 60 producing fields could be crucial in determining the country’s future position as an oil and gas powerhouse, according to an analyst with research and consulting firm GlobalData. The offerings in Round 1 account for 3.78 Bboe of proved and probable reserves and 14.6 Bboe of prospective resources.
BAGHDAD (Bloomberg) -- Plentiful oil supplies are pinning oil prices near a two-year low as the U.S. extends its campaign against Islamic State militants into Syria. Brent crude, which has traded below $100/bbl for more than two weeks, touched $95.60/bbl Sept. 24, the lowest since July 2012, after the broadest Arab-U.S. military coalition since the 1991 Gulf War struck Islamic State targets in Syria. U.S. aircraft began bombing the group six weeks earlier in Iraq, OPEC’s second-largest producer and holder of the world’s fifth-biggest reserves.
Skandi Constructor set for work in Gulf of Mexico in Q1, 2015 HOUSTON Well Ops, a subsidiary of Helix Energy Solutions, reported that its well intervention vessel, Skandi Constructor, will be available for operation in the Gulf of Mexico for
NEW ORLEANS (Bloomberg) -- BP Plc can’t recover hundreds of millions of dollars it claims to have overpaid some victims for economic losses from the 2010 Gulf of Mexico oil spill, a U.S. judge said.
NEW ORLEANS (Bloomberg) -- All oil-spill cleanup workers injured during BP Plc’s 2010 Gulf of Mexico disaster should get paid medical compensation now instead of being forced to sue for help, victims’ lawyers will tell a U.S. judge at a hearing that began Sept. 24 in New Orleans.
DUBAI -- Polarcus Adira is in transit from Las Palmas to the U.S. Gulf of Mexico to commence a six-month charter for TGS. The purpose-built 3D seismic vessel is equipped with specialized, advanced maritime technology to minimize the environmental footprint of the operation and the vessel continues to set new standards for the industry, having been awarded the highest achievable Triple-E environmental and energy efficiency rating by DNV-GL.
HOUSTON – The oil industry risks hamstringing its own research in its headlong rush to develop new technologies for the push into ever harsher subsurface conditions, World Oil’s ninth annual HPHT Drilling and Completions conference heard.
CALGARY, Alberta (Bloomberg) -- Western Canadian crude may be crossing the Atlantic Ocean soon as Canada’s oil companies seek buyers outside North America. Suncor Energy Inc., the largest Canadian oil company by market capitalization, loaded its first tanker of heavy crude out of Canada’s eastern coast this week. Enbridge Inc.’s Line 9B is scheduled to complete its reversal next month, bringing 300,000 bpd more to the Saint Lawrence River, which empties into the Atlantic.
PERTH, Australia -- Liquefied Natural Gas Limited’s wholly-owned subsidiary, Magnolia LNG, has achieved two significant milestones in progressing its pending application with the Federal Energy Regulatory Commission (FERC) for its proposed 8 mtpa LNG export project in Lake Charles, Louisiana.
PERTH, Australia (Bloomberg) -- Liquefied Natural Gas Ltd., the Australian company planning to build plants to liquefy gas in the U.S. and Canada, is considering a third project in North America to take advantage of increasing demand. Starting next month, the Perth-based company will look at options to “unlock further value,” including trading on a second stock exchange, Managing Director Maurice Brand said by phone Sept. 24.
RigNet names Pal Jensen Vice President Energy Maritime HOUSTON RigNet, named Pal Jensen as of Vice President Energy Maritime. Initially based in Oslo, Norway, Jensen will be responsible for leading RigNet' s business of providing remote communications solutions to maritime vessels
HPHT 2014 Developing industry solutions for 20K development PRAMOD KULKARNI, Editor HOUSTON “Collaboration is key for 20K psi development,” said Gregory Walz, Sr. Drilling Engineering Advisor for Anadarko Petroleum, during his keynote address at the 9th annual World Oil HPHT
WASHINGTON, D.C. -- Increasing production of crude oil in the Permian basin in western Texas, and parts of New Mexico, has outpaced pipeline infrastructure to move the crude to refineries, causing prices for crude in the basin (at Midland, Texas) to fall below similar crudes priced at Cushing, Oklahoma, the Energy Information Administration has reported.
PARIS -- Total’s affiliate, Total E&P USA, has signed an agreement to sell its 25% interest in Cardinal Gas Services LLC, a midstream company in Ohio’s Utica shale play, to E1 Corporation and a consortium led by Samchully, both from Korea, for $400 million plus an estimated price adjustment of $50 million.
Pivotal LNG to deliver LNG to Carib Energy for use in Puerto Rico ATLANTA, Georgia Pivotal LNG, a subsidiary of AGL Resources, has agreed to sell LNG to Crowley Maritime, subsidiary Carib Energy (Carib). The LNG will be delivered to
Schramm offers 24 7 service for active U.S. plays WEST CHESTER, Pennsylvania – Schramm Inc., a manufacturer of land based hydraulic drilling rigs, has announced a partnership with FEMCO, an aftermarket parts manufacturer and emergency repair services provider, to support
SAN ANTONIO (AP) -- A Texas oil and gas boom fueled by hydraulic fracturing and new horizontal drilling techniques has generated a record $1.26 billion this year to support K-12 public education.
COSTA MESA, California-- ProOne has commercialized downhole drilling technology exclusively distributed by NOV’s new spin-off, DistributionNOW (DNOW), and successfully deployed in hundreds of wells throughout North America. Operators have utilized this lubrication technology to solve wide-ranging issues, including an array of frequently encountered drilling problems, which saves substantial time and money.
HOUSTON (Bloomberg) -- Carbo Ceramics Inc., the largest supplier of man-made proppants for the oil and natural gas industry, said sales of its synthetic fracing material fell as customers used more sand. Third-quarter sales of ceramic proppant will fall 18% from the prior quarter, matching first-quarter levels, the Houston-based company said in a statement Sept. 22. The company reported sales of 454 million pounds in the second quarter.
ABERDEEN, United Kingdom -- Churchill Drilling Tools is celebrating the 500th deployment of its DAV MX CircSub. The company, which is located in Houston and Aberdeen in the UK, has forged a sound reputation in the Gulf of Mexico, where its dart activation technology has been recognized for its versatility, capability and reliability in challenging environments.
ASKER, Norway – TGS has announced the continuation of its Explorer Series seismic acquisition program in the deepwater U.S. Gulf of Mexico. Panfilo 3D will add 11,500 sq km to TGS' multi-client library in the Lund and Henderson Central Gulf of Mexico protraction areas. Acquisition will commence in Q4 2014 with the M/V Polarcus Adira towing ten km streamers to image regional stratigraphy and deep basin structures. Data will be available in late 2015.
IRVING, Texas (Bloomberg) -- Exxon Mobil Corp. said the U.S. government is giving the company more time to shut its Russian Arctic well beyond the deadline for sanctions aimed at halting the $700 million project. Exxon asked Washington for an extension to allow it to continue performing shut-down work on the Universitetskaya-1 (University-1) well in Russia’s Kara Sea to make sure the well was safe before it’s temporarily abandoned. The Irving, Texas- based company already had ceased drilling the offshore well after U.S. sanctions set a Sept. 26 deadline for ending the work.
CALGARY, Alberta (Bloomberg) -- The cost of building the Keystone XL oil pipeline, which is awaiting approval from the U.S. after an initial rejection, may climb 85% to $10 billion, according to developer TransCanada Corp. The new estimate, confirmed by Calgary-based company spokesman Shawn Howard Sept. 18 after comments made by CEO Russ Girling to the Wall Street Journal, increases the project cost from the current $5.4 billion.
IRVING, Texas (Bloomberg) -- Exxon Mobil Corp. and OAO Rosneft halted drilling on an offshore oil well intended as the first step in unlocking billions of barrels of crude in Russia’s remote Arctic, according to people familiar with the project. Work stopped just a few days after the U.S. and European Union barred companies from helping Russia exploit Arctic, deepwater or shale-oil fields, said three people with knowledge of the rig’s operations who asked not to be named since they weren’t authorized to speak about the project.
HOUSTON -- LINN Energy has signed a definitive agreement to trade a portion of its Permian basin properties to Exxon Mobil for operating interests in California' s South Belridge field. The transaction is expected to close in the fourth quarter of 2014 with an effective date of June 1, 2014.
WESTBROOK, Connecticut -- The Lee Company' s new 375 Zero Leak Chek is a miniature check valve featuring a seat with an elastomeric seal to achieve zero leakage. Weighing only 11 grams, the .375-in. diameter check valve is capable of flowing 1.9 GPM at 25 psid.
Wild Well Control adds new subsea capping stack in Singapore HOUSTON – Wild Well Control, Inc., a Superior Energy Services company and a global leader in firefighting and well control, has unveiled its new subsea capping stack for response to
OKLAHOMA CITY, Oklahoma -- Continental Resources has announced that Jack Stark has been appointed President and COO. Stark joined the company in 1992 and has served as Continental' s senior V.P. of Exploration since 1998.
Cheniere shareholders revolt against highest U.S. executive pay ZAIN SHAUK HOUSTON (Bloomberg) Cheniere Energy Inc. shareholders delivered a rebuke to the best paid U.S. executive, saying in a vote that they opposed his $142 million pay package. Shareholders of Cheniere,
HOUSTON -- Rowan Companies has reported that J. Kevin Bartol, executive V.P., CFO and treasurer, has decided to leave the company to pursue other opportunities. The company also announced that Melanie M. Trent has been promoted to executive V.P., general counsel and chief administrative officer.
WASHINGTON, D.C. (Bloomberg) -- U.S. crude production climbed to the highest level in more than 28 years last week as the shale boom moved the country closer to energy independence. Output rose 248,000 bpd to 8.838 million, the most since March 1986, according to Energy Information Administration data. The combination of horizontal drilling and hydraulic fracturing has unlocked supplies from shale formations in the central U.S., including the Bakken in North Dakota and the Eagle Ford in Texas.
WTI crude trades near two week high on OPEC target, Brent steady BEN SHARPLES and GRANT SMITH NEW YORK (Bloomberg) West Texas Intermediate traded near the highest price in almost two weeks after OPEC’s secretary general said the group may
Apache said to seek up to $840 million for Alberta energy assets SCOTT DEVEAU HOUSTON (Bloomberg) Apache Corp., the oil producer under investor pressure to shed its international assets, is seeking to raise as much as $840 million from the
Fracking study spurs call for stricter gas drilling regulation JIM SNYDER, JIM POLSON and BRADLEY OLSON WASHINGTON, D.C. (Bloomberg) A study that found natural gas drilling polluted drinking water is fueling calls for stricter standards for well construction that could
DENVER, Colorado -- Bill Barrett Corp. has signed purchase and sale agreements with several undisclosed purchasers for the sale of the majority of its Powder River basin acreage and its remaining position in the Gibson Gulch natural gas program in the Piceance basin. The transactions include an acreage exchange whereby Bill Barrett acquires 7,856 net acres and 390 boed net production within the southern block of its operated Northeast Wattenberg area in exchange for acreage in the Powder River basin.
PARIS -- Technip has signed an agreement to sell 100% of its North American diving assets to Ranger Offshore. Technip’s strategy focuses on high technology and ultra-deepwater products and services.
Kurds ask judge to deny Iraq’s second bid to seize Texas tanker LAUREL BRUBAKER CALKINS HOUSTON (Bloomberg) The Kurdistan Regional Government asked a U.S. judge to reject the Iraqi Oil Ministry’s bid to use new legal theories to seek a
Billionaire Fredriksen’s Seadrill has longest losing streak MIKAEL HOLTER HAMILTON, Bermuda (Bloomberg) -- Seadrill Ltd. suffered its longest losing streak in Oslo trading as the rig company controlled by billionaire John Fredriksen risks seeing its bet on Russia unwind on deepening sanctions from the U.S. and E
Canacol secures partners and funding to bid for Mexico fields ANDREW WILLIS CALGARY (Bloomberg) Canacol Energy Ltd., a Canadian company exploring for oil and gas in Latin America, is set to bid for Mexican fields after obtaining funding from private
Polarcus awarded 3D seismic acquisition project in US, GoM DUBAI Polarcus has signed a Letter of Award (LOA) with TGS NOPEC Geophysical Company (TGS) for the charter of a Polarcus A Class 3D seismic vessel offshore United States, Gulf of
IRVING, Texas (Bloomberg) -- Exxon Mobil Corp. said the U.S. government is giving the company more time to shut its Russian Arctic well beyond the deadline for sanctions aimed at halting the $700 million project. Exxon asked Washington for an extension to allow it to continue performing shut-down work on the Universitetskaya-1 (University-1) well in Russia’s Kara Sea to make sure the well was safe before it’s temporarily abandoned. The Irving, Texas- based company already had ceased drilling the offshore well after U.S. sanctions set a Sept. 26 deadline for ending the work.
CALGARY, Alberta (Bloomberg) -- The cost of building the Keystone XL oil pipeline, which is awaiting approval from the U.S. after an initial rejection, may climb 85% to $10 billion, according to developer TransCanada Corp. The new estimate, confirmed by Calgary-based company spokesman Shawn Howard Sept. 18 after comments made by CEO Russ Girling to the Wall Street Journal, increases the project cost from the current $5.4 billion.
IRVING, Texas (Bloomberg) -- Exxon Mobil Corp. and OAO Rosneft halted drilling on an offshore oil well intended as the first step in unlocking billions of barrels of crude in Russia’s remote Arctic, according to people familiar with the project. Work stopped just a few days after the U.S. and European Union barred companies from helping Russia exploit Arctic, deepwater or shale-oil fields, said three people with knowledge of the rig’s operations who asked not to be named since they weren’t authorized to speak about the project.
ExxonMobil, LINN Energy agree to swap more assets HOUSTON, Texas LINN Energy (LINN) and LinnCo have reported that LINN has signed a definitive agreement to trade a portion of its Permian basin properties to ExxonMobil for operating interests in California' s
WESTBROOK, Connecticut -- The Lee Company' s new 375 Zero Leak Chek is a miniature check valve featuring a seat with an elastomeric seal to achieve zero leakage. Weighing only 11 grams, the .375-in. diameter check valve is capable of flowing 1.9 GPM at 25 psid.
Wild Well Control adds new subsea capping stack in Singapore HOUSTON – Wild Well Control, Inc., a Superior Energy Services company and a global leader in firefighting and well control, has unveiled its new subsea capping stack for response to
Continental Resources appoints Jack Stark as President, COO OKLAHOMA CITY, Oklahoma Continental Resources, Inc. (Continental) has reported that Jack Stark has been appointed President and Chief Operating Officer by the Company' s Board of Directors. Stark joined the Company in 1992
Cheniere shareholders revolt against highest U.S. executive pay ZAIN SHAUK HOUSTON (Bloomberg) Cheniere Energy Inc. shareholders delivered a rebuke to the best paid U.S. executive, saying in a vote that they opposed his $142 million pay package. Shareholders of Cheniere,
Rowan Companies makes management changes HOUSTON, Texas Rowan Companies Plc (Rowan) has reported that J. Kevin Bartol, Executive V.P., CFO & Treasurer, has decided to leave the Company to pursue other opportunities. Mr. Bartol will continue to serve until a
Suncor Energy sells share of Pioneer Energy assets CALGARY, Alberta Suncor Energy along with The Pioneer Group Inc., has reached an agreement to sell the assets of Pioneer Energy to Parkland Fuel Corporation for $378 million. Suncor, as one of
WASHINGTON, D.C. (Bloomberg) -- U.S. crude production climbed to the highest level in more than 28 years last week as the shale boom moved the country closer to energy independence. Output rose 248,000 bpd to 8.838 million, the most since March 1986, according to Energy Information Administration data. The combination of horizontal drilling and hydraulic fracturing has unlocked supplies from shale formations in the central U.S., including the Bakken in North Dakota and the Eagle Ford in Texas.
WTI crude trades near two week high on OPEC target, Brent steady BEN SHARPLES and GRANT SMITH NEW YORK (Bloomberg) West Texas Intermediate traded near the highest price in almost two weeks after OPEC’s secretary general said the group may
Apache said to seek up to $840 million for Alberta energy assets SCOTT DEVEAU HOUSTON (Bloomberg) Apache Corp., the oil producer under investor pressure to shed its international assets, is seeking to raise as much as $840 million from the
Vanguard to acquire NGLs properties in the Piceance basin, Colorado HOUSTON, Texas Vanguard Natural Resources, LLC (Vanguard) has entered into a definitive agreement to acquire natural gas, oil and natural gas liquids (NGLs) assets in the Piceance Basin in Colorado
Fracking study spurs call for stricter gas drilling regulation JIM SNYDER, JIM POLSON and BRADLEY OLSON WASHINGTON, D.C. (Bloomberg) A study that found natural gas drilling polluted drinking water is fueling calls for stricter standards for well construction that could
DENVER, Colorado -- Bill Barrett Corp. has signed purchase and sale agreements with several undisclosed purchasers for the sale of the majority of its Powder River basin acreage and its remaining position in the Gibson Gulch natural gas program in the Piceance basin. The transactions include an acreage exchange whereby Bill Barrett acquires 7,856 net acres and 390 boed net production within the southern block of its operated Northeast Wattenberg area in exchange for acreage in the Powder River basin.
PARIS -- Technip has signed an agreement to sell 100% of its North American diving assets to Ranger Offshore. Technip’s strategy focuses on high technology and ultra-deepwater products and services.
Kurds ask judge to deny Iraq’s second bid to seize Texas tanker LAUREL BRUBAKER CALKINS HOUSTON (Bloomberg) The Kurdistan Regional Government asked a U.S. judge to reject the Iraqi Oil Ministry’s bid to use new legal theories to seek a
Billionaire Fredriksen’s Seadrill has longest losing streak MIKAEL HOLTER HAMILTON, Bermuda (Bloomberg) -- Seadrill Ltd. suffered its longest losing streak in Oslo trading as the rig company controlled by billionaire John Fredriksen risks seeing its bet on Russia unwind on deepening sanctions from the U.S. and E
Canacol secures partners and funding to bid for Mexico fields ANDREW WILLIS CALGARY (Bloomberg) Canacol Energy Ltd., a Canadian company exploring for oil and gas in Latin America, is set to bid for Mexican fields after obtaining funding from private
HOUSTON -- Weatherford International has been awarded an exclusive contract with Statoil Petroleum AS valued at $400 million for the delivery of Tubular Running Services on 19 drilling units in Statoil’s portfolio. This contract has a base period of six years with the option of two consecutive two-year extensions.
NEW YORK -- A victor has been crowned in the bidding war for the Buffalo Bills: Terry Pegula, an American businessman who made his fortune in fracing, has inked a deal to buy western New York' s beloved sports team for close to $1 billion.
WEATHERFORD, Texas (Bloomberg) -- Homes in a Texas community face worsening water contamination caused by nearby gas production, according to a study released Sept. 15. The findings from an analysis by independent academics rebut statements by driller Range Resources Corp. and state regulators, who have said their evidence shows gas drilling wasn’t responsible for the presence of explosive methane in the homeowners’ water wells. Separate testing that found evidence of contamination from drilling at seven areas in Pennsylvania also was included in the study.
HOUSTON -- Baker Hughes has announced the commercial release of the FLEXPumpER extended-range pump, which expands the operating range of a single ESP system. The new pump operates efficiently in a wider flow range to improve production and reduce operating costs, particularly in the dynamic production conditions characteristic of unconventional resource plays.
VERNAL, Utah -- Superior Drilling Products has been awarded a second patent addressing the design, process, benefits and applications of the Drill-N-Ream tool to condition a well bore while drilling.
HOUSTON -- Tendeka has announced the launch of FracRight, a complete heel-to-toe hydraulic fracturing system. Integrated with Tendeka’s real-time DTS monitoring and Quest software suite, the system enables the collection and analysis of stimulation data in unconventional reservoirs.
WASHINGTON, D.C. -- The Powder River basin is experiencing a turnaround in oil production, according to EIA’s Today in Energy report. Production has rebounded from a low of 38,000 bpd in 2009 to 78,000 bpd during first-quarter 2014. Although U.S. oil production growth is occurring primarily in the Bakken, Eagle Ford, and Permian basins, the Powder River basin is among other regions of the country that have also benefitted from the application of horizontal drilling and hydraulic fracturing.
Speculators cut gas bets to 9 month low on supply growth NAUREEN S. MALIK NEW YORK (Bloomberg) Hedge funds reduced bullish wagers on natural gas to the lowest level in more than nine months as U.S. shale production surges to
Schlumberger said poised to win Petrobras well service contract PETER MILLARD HOUSTON, Texas (Bloomberg) Schlumberger Ltd., the biggest oilfield services provider, is favored to win half of more than $2 billion in well services work being offered by Petroleo Brasileiro
North Dakota oil growth seen slowed by new gas flaring rules DAN MURTAUGH BISMARCK, North Dakota (Bloomberg) North Dakota’s oil output grew slower than expected in July, possibly as a result of new rules passed to reduce the amount of
U.S. oil rig count at 1,592 sets record on drilling in Bakken to Permian LYNN DOAN and DAN MURTAUGH HOUSTON (Bloomberg) Rigs targeting oil in the U.S. surged to a record as producers accelerated drilling in some of the nation’s
IRVING, Texas (Bloomberg) -- Exxon Mobil Corp.’s work on a $700 million Arctic well in Russia could be stopped before it’s finished under new U.S. and European Union sanctions that outlaw the drilling partnership. New sanctions ban U.S. and EU companies from working with Russian officials or companies to find or produce crude from deep seas, shale fields or the Arctic. The decrees, reported earlier this week by Bloomberg, were imposed Sept. 12, the 35th day of drilling at the 9 Bbbl Universitetskaya prospect off Russia’s northern coast that was scheduled to last for 70 days.
CALGARY, Alberta (Bloomberg) -- Chevron Corp. needs to find a partner, secure natural gas contracts and assess engineering costs before making a decision on its Canadian LNG project in Kitimat.
WASHINGTON, D.C - API unveiled a new vendor survey Sept. 9 that demonstrates the diverse array of suppliers, service providers, and other small and midsized businesses supporting the U.S. energy renaissance.
Oil heads for second weekly drop on rising supply, weaker demand BEN SHARPLES NEW YORK (Bloomberg) West Texas Intermediate and Brent headed for a second weekly drop amid signs that crude supply will continue to rise even as global demand
Continental Resources President, COO resigns OKLAHOMA CITY, Oklahoma Continental Resources has reported that W.F. "Rick" Bott, President and COO, resigned to pursue other opportunities. His duties will be absorbed by senior management. Continental Chairman and CEO Harold G. Hamm said,
Statoil, Petronic aim to explore offshore Nicaragua STAVANGER, Norway On Sept. 3 Statoil signed a Petronic Statoil cooperation agreement (a letter of intent) with the intention to find ways to cooperate in oil and gas activities offshore Nicaragua’s Pacific coast.
Technip was awarded a lump sum contract by Deep Gulf Energy II LLC for the development of the Kodiak field in the Gulf of Mexico’s Mississippi Canyon blocks 727 and 771.
Invista enters oilfield services space with launch of durable Raptor™ nylon pipe WICHITA, Kansas Invista, a subsidiary of Koch Industries, introduced Raptor™ nylon pipe, the industry’s first nylon 6,6 homogenous single wall line pipe that withstands temperatures up to 200
Xcite Energy inks infrastructure collaboration with Statoil and EnQuest TORTOLA, BVI Xcite Energy has entered into a Collaboration Agreement with Statoil (UK) (Statoil) and EnQuest Heather (EnQuest), in order to share field specific technical and operational information to evaluate the
Crude imports to U.S. Midwest rise to record, EIA data show MOMING ZHOU NEW YORK, (Bloomberg) Crude oil imports to the U.S. Midwest increased to a record last week, according to the Energy Information Administration. Shipments to the region, known
WTI crude tumbles to an eight month low at $91.67 MARK SHENK NEW YORK (Bloomberg) West Texas Intermediate oil fell to an eight month low after U.S. crude stockpiles fell less than analysts projected in a government report. Brent dropped
Putin oil deals with Exxon, Shell face threat from sanctions INDIRA A. R. LAKSHMANAN and JOE CARROLL NEW YORK (Bloomberg) The U.S. and European Union are poised to halt billions of dollars in oil exploration in Russia by the world’s
Drivers across the U.S. enjoying the lowest pump prices for this time of year since 2010 will probably see further declines as refineries benefiting from the shale boom produce record amounts of fuel.
OPEC reduced forecasts for the amount of crude it will need to supply by the most in three years as surging North American shale output reduces reliance on the group’s production.
Wellsite Rental Services expands to Marcellus and Utica regions ZELIENOPLE, Pennsylvania Wellsite Rental Services, has reported that it is partnering with Deep Well Services (DWS) to serve the Marcellus and Utica regions. DWS is a premier supplier of snubbing and
U.S. sees 2015 oil price drop as output hits 45 year high MARK SHENK NEW YORK (Bloomberg) Oil prices are poised to drop next year as U.S. crude production reaches a 45 year high, government forecasters said Sept. 9. West
Former Obama aide Summers calls for end of U.S. oil export ban JIM SNYDER WASHINGTON D.C. (Bloomberg) Larry Summers, President Barack Obama’s former top economic adviser, gave a full throated endorsement of lifting the U.S. ban on crude oil exports,
Brent crude falls to lowest in 17 months on ample supply MOMING ZHOU LONDON (Bloomberg) Brent crude dropped to the lowest level in almost 17 months, narrowing its premium over West Texas Intermediate, on concern global supply growth will outpace
Encana Corp. has the flexibility to make acquisitions following the sale of its stake in PrairieSky Royalty Ltd. worth C$2.6 billion ($2.4 billion), said Chief Financial Officer Sherri Brillon.
DALLAS, Texas -- Regency Energy Partners and Aubrey McClendon’s American Energy - Midstream (AE-MidCo) have entered into a JV agreement for the construction and operation of Regency’s previously announced Utica Ohio River Project. In addition, Regency and American Energy - Utica (AEU) will enter into a gathering agreement for gas produced from the Utica shale in eastern Ohio by AEU. Regency and AEU will contribute all previously signed agreements to the JV. These agreements include volume commitments and large acreage dedications.
WorleyParsons eyes global advisory business with MTG buyout NORTH SYDNEY, Australia WorleyParsons reported an agreement to acquire MTG, Ltd. MTG is a US based management consulting firm in the oil and gas, petrochemicals and chemicals industries with operations in North
2nd Unconventional Resources Technology Conference attracts more than 5,000 attendees TULSA, Oklahoma The Society of Petroleum Engineers (SPE) reported an attendance of more than 5,000 oil and gas professionals at the 2nd Unconventional Resources Technology Conference (URTeC) held 25 27
Armada Oil reports successful drilling results in the Hanna basin DALLAS, Texas Armada Oil, Inc. (Armada) reported that it has successfully completed the drilling to contract depth of the Bear Creek #1 well Carbon County, Wyoming. The well was drilled
Encana selling controlling stake in PrairieSky for $2.4 billion REBECCA PENTY CALGARY (Bloomberg) Encana, Canada’s second largest natural gas producer, is selling its controlling stake in PrairieSky Royalty Ltd. for $2.4 billion following the unit’s initial public offering. PrairieSky generates
Infosys to provide IT Services to BP BANGALORE, India – Infosys, a leader in consulting, technology and outsourcing solutions, today announced that it has been selected by BP to provide IT services, in particular Application Support and Development to BP.
Paradigm introduces new well planning and drilling engineering applications HOUSTON Paradigm has announced the release of its latest version of its integrated suite of well planning and drilling engineering applications. This major upgrade is integrated with Peloton’s database for drilling
ANCHORAGE, Alaska -- The Alaska LNG Project has marked a major milestone with the recent submission of a formal request to the Federal Energy Regulatory Commission (FERC) to start the pre-file process for the project.
FOOTHILL RANCH, California -- Bal Seal Engineering has expanded its line of spring-energized seals to include large diameters -- up to 120 in. ID -- for slow-speed rotary and reciprocating oilfield applications. Bal Seal says the one-piece, large diameter seals offer equipment designers and end users excellent resistance to wear, extrusion and chemicals. The seals are energized with a Bal Seal Canted Coil Spring, which promotes even wear and prolongs service life.
THE HAGUE -- Production is now underway from the Cardamom development, the second major deepwater facility Shell has brought online in the U.S. Gulf of Mexico this year, following the start-up of Mars B in February. Oil from the Cardamom subsea development, 100% Shell operated, is piped through Shell' s Auger platform. When at full production of 50,000 boed, Auger' s total production capacity will increase to approximately130,000 boed.
LONDON (Bloomberg) -- Brent crude fell below $100 a barrel for the first time since June 2013, as a slowdown in imports into China reinforced signs of surplus oil supply. West Texas Intermediate dropped to the lowest in almost eight months.
FREMONT, California (Bloomberg) -- Glasspoint Solar Inc., a closely held producer of solar equipment used for enhanced oil recovery, received $53 million from a group of investors led by Royal Dutch Shell Plc and Oman’s largest sovereign wealth fund.
LONDON (Bloomberg) -- BP Plc got support from the UK government in its U.S. court fight over the level of compensation required under a settlement of lawsuits stemming from the 2010 Gulf of Mexico oil spill. The UK told U.S. Supreme Court judges in a filing that decisions to authorize payments to people who were not injured by the spill raises “grave international comity concerns by undermining confidence in the vigorous and fair resolution of disputes.”
Hedge funds reduce bullish gas bets as volatility slides NAUREEN S. MALIK NEW YORK (Bloomberg) Hedge fund bulls accelerated their withdrawal from U.S. natural gas markets as volatility and prices declined on abundant supply. Speculators cut their net long position
Suncor Energy begins planned maintenance on oil sands upgrader FORT MCMURRAY, Alberta Suncor Energy reported that it has begun planned maintenance on one of the two oil sands upgraders (U1) at its oil sands operations near Fort McMurray, Alberta. Approximately
CORPUS CHRISTI, Texas – Studying the turbulence in Gulf waters is helping researchers understand how oil and water mix in the waters of the Gulf of Mexico -- data that will come in handy during the aftermath of an oil spill. Texas A&M University-Corpus Christi student, Jonathan Zikos, a senior environmental chemistry student of Dr. Darek Bogucki, Assistant Professor in the Department of Physical & Environmental Sciences, has spent the summer working on the data collected in 2012 near the site of the Deepwater Horizon oil spill, which released nearly 4.4 MMbbl of crude oil into the Gulf in 2010.
U.S. rig count rises 11 to 1,925, Baker Hughes says LYNN DOAN and RICHARD STUBBE HOUSTON (Bloomberg) Rigs targeting oil and natural gas in the U.S. advanced by 11 to 1,925, according to Baker Hughes. Oil rigs increased by nine
NEW ORLEANS (Bloomberg) -- A U.S. judge’s watershed ruling means the final cost to BP Plc for the 2010 Gulf oil spill may eclipse $50 billion, wiping out years of profits and highlighting the risks of drilling as the industry pushes into more dangerous areas such as deeper waters and ice-bound Arctic fields. The Sept. 4 court decision that BP acted with gross negligence in the Gulf of Mexico disaster may hamstring the company financially as the industry’s search for resources becomes more expensive and dangerous. Companies including Exxon Mobil Corp. and Royal Dutch Shell Plc are also facing increasing pressure to show investors they can still grow as production declines.
LINCOLN, Nebraska (Bloomberg) -- The course of TransCanada Corp.’s proposed $5.4 billion Keystone XL pipeline runs through Nebraska’s highest court, which can either speed the project on to U.S. President Barack Obama or delay it indefinitely. Governor Dave Heineman is asking the state Supreme Court Sept. 5 to reverse a trial judge’s decision to kill legislation allowing the out-going Republican and the Canadian company to chart the pipeline’s course through Nebraska.
DALLAS (Bloomberg) -- Aubrey McClendon, the U.S. shale gas pioneer fired from Chesapeake Energy Corp. last year, plans to take public the exploration companies he has formed since. McClendon, who has raised about $10 billion to acquire gas fields in the past 16 months, told a conference in Dallas Sept. 4 that he intends to start a collection of companies that each specialize in a single U.S. shale region.
NEW ORLEANS (Bloomberg) -- BP Plc faces billions more in potential penalties after a judge found it acted with gross negligence in the 2010 Gulf of Mexico oil spill, dealing a blow to the company’s efforts to expand its drilling program as costs rise and production slips. In a turning point after four years of legal wrangling over responsibility, U.S. District Judge Carl Barbier’s ruling laid the bulk of the blame on BP for the explosion, which killed 11 men and caused the largest offshore oil spill in U.S. history. Acting with gross negligence means BP will be exposed to as much as $18 billion in additional government fines and penalties. The London-based company has spent more than $28 billion on the accident so far.
STAVANGER and HOUSTON -- Aker Solutions and Baker Hughes have received the necessary regulatory approvals for the Subsea Production Alliance announced in April 2014. Earlier this year, Aker Solutions and Baker Hughes agreed to form an alliance to develop technology for production solutions designed to boost output, increase recovery rates and reduce costs for subsea fields.
MEXICO CITY (Bloomberg) -- New Jersey Governor Chris Christie used the first day of a trip to Mexico to call for an end to the 39-year-old U.S. ban on crude oil exports and approval of TransCanada Corp.’s stalled Keystone XL pipeline. Christie, 51, a second-term Republican and potential 2016 candidate for president, said Sept. 3 in a Mexico City speech that the U.S. needs to avoid “foolish regulations.”
RIYADH (Bloomberg) -- After years of keeping the price of crude sold to the U.S. low enough to maintain market share, Saudi Arabia is losing ground as the shale boom leaves U.S. refiners with ample supplies of inexpensive domestic oil. Arab Light crude for sale in the U.S. averaged 48 cents a barrel less than Light Louisiana Sweet, a Gulf Coast benchmark, in August, the narrowest discount in data compiled by Bloomberg back to 1991. The U.S. imported 878,000 bbl of Saudi crude a day in the first four weeks of August, the least since 2009.
CALGARY, Alberta -- Suncor Energy has reached an agreement to sell its Wilson Creek assets located near Rimbey, Alberta to Tamarack Acquisition Corp., a wholly-owned subsidiary of Tamarack Valley Energy Ltd., for C$168.5 million. Estimated net production year to date from this business was 1,702 boed.
CALGARY, Alberta -- Suncor Energy has reached an agreement to sell its Wilson Creek assets located near Rimbey, Alberta to Tamarack Acquisition Corp., a wholly-owned subsidiary of Tamarack Valley Energy Ltd., for C$168.5 million. Estimated net production year to date from this business was 1,702 boed.
Christie in Mexico calls for U.S. to end oil export restrictions TERRENCE DOPP and ERIC MARTIN TRENTON, New Jersey (Bloomberg) New Jersey Governor Chris Christie used the first day of a trip to Mexico to call for an end to
CALGARY, Alberta (Bloomberg) -- Baytex Energy Corp., a Canadian crude producer expanding in the Eagle Ford shale in Texas, plans more purchases after paying $1.8 billion for Aurora Oil & Gas Ltd. to gain a foothold in the formation. Before making another large acquisition, Calgary-based Baytex will focus on asset swap opportunities in the Eagle Ford similar to its deal with Husky Energy Inc. in western Canada, CEO James Bowzer said in an interview.
WESTPORT, Connecticut (Bloomberg) -- Andrew John Hall -- known as the God of Crude Oil Trading to some of his peers -- has built his success on a simple creed: Everyone who disagrees with him is wrong. For most of the past 30 years, that has been a killer strategy. Like a poker player on an endless hot streak, Hall has made billions for the companies for which he’s traded by placing one aggressive bet after another. He was one of the few traders who anticipated both the run-up in and the eventual crash of oil prices in 2008.
HOUSTON -- Shell has announced new discovery wells (Neal and Gee) within the Utica formation in Tioga County, Pennsylvania. These wells were drilled to a total measured depth of approximately 4,420 and 4,724 m (14,500 and 15,500 ft) with lateral lengths of 945 m (3,100 ft) at Gee and 1,280 m (4,200 ft) at Neal, respectively. These results are comparable to the best publically announced thus far in the emerging Southeast Ohio Utica dry gas play.
Trafigura sells midstream assets to Buckeye for $860 mn HOUSTON, Texas Trafigura AG reported that it has signed an agreement for the sale of 80% of its membership interests in the entity which holds its South Texas midstream assets, Trafigura
Dominion to build $5 bn natural gas pipeline CHARLOTTE, United States Duke Energy and Piedmont Natural Gas reported the selection of Dominion to build and operate a 550 mile interstate natural gas pipeline from West Virginia, through Virginia and into
NEW YORK (Bloomberg) -- The Environmental Protection Agency is considering rules that would force oil and gas producers to cut methane emissions, its chief said, stepping up efforts to curb the most potent greenhouse gas linked to climate change.
HOUSTON (Bloomberg) -- Halliburton Co. agreed to pay $1.1 billion to settle a majority of lawsuits brought over its role in the largest offshore oil spill in U.S. history. The agreement is subject to court approval and includes legal fees, the Houston-based company said in a statement Sept. 2. Halliburton was accused by spill victims and BP Plc of doing defective cementing work on the Macondo well before the April 2010 Gulf of Mexico oil spill. Halliburton blamed the incident on decisions by BP, which owned the well.
STOCKHOLM, Sweden (Bloomberg) -- A new analysis shows 38% of the world’s shale resources in places such as China, Mexico and South Africa face high to extremely high water stress or arid conditions, according to the World Resources Institute. Water availability shortcomings could potentially limit shale resource development in every continent except Antarctica, the Washington-based WRI research group said Sept. 2 in a report released at the World Water Week event in Stockholm.
WTI crude falls, ending longest rise in six months, Brent steady NEW YORK (Bloomberg) West Texas Intermediate fell, snapping the longest rising streak since February as OPEC’s oil production was seen increasing to the highest level in a year. Brent
Athabasca completes $1.1 bn Dover deal with PetroChina REBECCA PENTY and JEREMY VAN LOON CALGARY, Alberta (Bloomberg) Athabasca Oil Corp. closed a C$1.18 ($1.1 billion) agreement with PetroChina Co. to sell the rest of its Dover oil sands project, ending
Teekay and Modec said favored to win Petrobras Brazil contracts SABRINA VALLE and PETER MILLARD HAMILTON, Bermuda (Bloomberg) Teekay Offshore Partners LP and Modec Inc. are leading the race to supply two vessels to produce oil in deep waters for
