Industry News

DNO makes minor oil and gas discovery off Norway

13 December 2019, 2:26pm
DNO is in the process of concluding the drilling of a wildcat well near the Heidrun field in the Norwegian Sea after finding a minor oil and gas discovery. ...
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Hurricane to focus on Lancaster and Lincoln wells

13 December 2019, 1:05pm
Hurricane Energy has been granted an extension for a UK license which contains the Lancaster and Lincoln areas. The extension comes with a commitment to drill a well on each of the areas. ...
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SoCalGas begins December with more flexibility in its natural gas supply than last winter

13 December 2019, 1:00pm
On December 10, 2019, Southern California Gas Company's (SoCalGas) working natural gas inventory totaled 74.4 billion cubic feet (Bcf), nearly equal to the year-ago stock level and 9% higher than it was in 2017. Demand for natural gas in Southern California often peaks in December, when average temperatures in the region are typically at their lowest. Although the current stock level is similar to last winter's, SoCalGas has more flexibility to withdraw natural gas from storage to meet winter demand than last year.
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Spirit to take over North Sea discovery after ‘encouraging’ results

13 December 2019, 11:23am
UK-based Spirit Energy will become the operator of a new Southern North Sea discovery after an encouraging exploration campaign. ...
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Noble jack-up selected for Trinidad job

13 December 2019, 10:48am
Offshore drilling contractor Noble Corporation has been awarded a contract for its jack-up rig Noble Regina Allen for operations offshore Trinidad.  In its latest fleet status report, published on... ...
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Shell agrees $10 billion loan in ‘innovative deal’ with 25 banks

13 December 2019, 10:19am
Oil major Shell has signed a $10 billion revolving credit facility, which replaces Shell’s existing $8.84 billion revolving credit facility and is provided by a syndicate of 25 banks. ...
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Keppel delivers another jack-up rig to Mexican operator

13 December 2019, 10:02am
Offshore rig builder Keppel Offshore & Marine (Keppel O&M) has delivered the KFELS B Class jack-up rig, Cantarell III, to Grupo R. ...
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Equinor gives up on oil terminal plan for Johan Castberg project

13 December 2019, 9:47am
The Johan Castberg partners have studied a possible development of a downscaled ship-to-ship oil transfer terminal at Veidnes in Finnmark county in North Norway, and have concluded that the costs of... ...
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W&T buys Magnolia field from ConocoPhillips for $20 million

13 December 2019, 9:18am
W&T Offshore has bought ConocoPhillips' stake in the Magnolia field located in the central region of the deepwater Gulf of Mexico, offshore Louisiana. ...
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SBM Offshore sells minority stake in FPSO Sepetiba following Petrobras award

13 December 2019, 8:38am
SBM Offshore has divested a minority interest in the FPSO Sepetiba project to two Japanese companies following confirmation of a 22.5-year lease and operation contract with Petrobras. ...
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OneSubsea to supply subsea production system for Chevron’s Anchor

13 December 2019, 8:11am
Schlumberger's OneSubsea has been awarded a contract by Chevron for the supply of an integrated subsea production and multiphase boosting system for the Anchor field in the U.S. Gulf of Mexico. ...
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Mubadala wraps up Thai drilling campaign with another duster

13 December 2019, 7:54am
Mubadala Petroleum has completed its exploration drilling campaign at the G1/48 Manora oil field located in the Northern Gulf of Thailand with disappointing results.  ...
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Transocean lands one-year gig offshore Trinidad

13 December 2019, 7:27am
Transocean has been awarded a one-year contract off the coast of Trinidad and Tobago. ...
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Transocean Rig to Mobilize in Caribbean

13 December 2019, 12:00am
Transocean has won a one-year contract offshore Trinidad and Tobago for its Development Driller III semisub.
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SandRidge CEO to Resign

13 December 2019, 12:00am
John Suter, SandRidge's chief operating officer, will service as interim president and CEO.
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OPEC+ Price Spike Will be Short-Lived

13 December 2019, 12:00am
Experts look at what the latest OPEC+ developments mean for the oil price.
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Pipeline-Starved Canadian Energy Shines

13 December 2019, 12:00am
Canadian energy firms have quietly outperformed their U.S. counterparts this year.
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Schlumberger Unit Wins Anchor Subsea Contract

13 December 2019, 12:00am
OneSubsea will provide a subsea production system rated up to 20,000 psi. IMAGE SOURCE: Schlumberger
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Energas to Start Pakistan's Largest LNG Terminal in 2021

13 December 2019, 12:00am
Pakistan's Energas plans to start the nation's largest liquefied natural gas import terminal in 2021.
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Aramco Set to Pay Banks $64MM for Record IPO

13 December 2019, 12:00am
Saudi Aramco is poised to pay a combined $64 million to the banks that arranged the world's largest initial public offering.
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US Adds Four Oil Rigs

13 December 2019, 12:00am
The U.S. adds four oil rigs and drops four gas rigs to flatten the rig count for the week.
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Oil Up After Trump Approves Trade Deal

13 December 2019, 12:00am
Oil rose to the highest level in almost three months after U.S. President Donald Trump signed off on a partial trade deal with China.
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McDermott Receives Delisting Warning

13 December 2019, 12:00am
McDermott received a notice Friday from the NYSE stating the average closing price of the company's shares of common stock had dropped below $1 per share for 30 consecutive trading days.
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Oil Prices Up for the Week

13 December 2019, 12:00am
WTI and Brent crude oil futures settled higher Friday.
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Shell Signs $10B Revolving Credit Facility

13 December 2019, 12:00am
The new facility replaces Shell's existing $8.84 billion revolving credit facility and is provided by a syndicate of 25 banks.
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Global Upstream Investment to Dip in 2020

13 December 2019, 12:00am
Overall global upstream investments will decrease by around four percent in 2020, according to the latest forecast by Rystad Energy.
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OMV hires Island Innovator rig for Norwegian operations

12 December 2019, 3:25pm
Offshore drilling contractor Island Drilling has been awarded a contract with OMV in Norway.  ...
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Chevron takes FID to develop Anchor oil field in Gulf of Mexico

12 December 2019, 1:33pm
Oil major Chevron has sanctioned the Anchor project located in the U.S. Gulf of Mexico.  ...
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EIA analysis explores India's projected energy consumption

12 December 2019, 1:00pm
In the U.S. Energy Information Administration's (EIA) International Energy Outlook 2019 (IEO2019), India has the fastest growing rate of energy consumption globally through 2050. By 2050, EIA projects in the IEO2019 Reference case that India will consume more energy than the United States by the mid-2040s, and its consumption will remain second only to China through 2050. EIA explored three alternative outcomes for India's energy consumption in an Issue in Focus article released today and a corresponding webinar held at 9:00 a.m. Eastern Standard Time.
Read more... (source: www.eia.gov)


FAR raising funds for Sangomar project off Senegal

12 December 2019, 12:45pm
FAR Limited is raising funds for its share of the development capex for the Woodside-operated Sangomar oil field development located offshore Senegal. ...
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Petrofac bags two new North Sea deals

12 December 2019, 12:13pm
Petrofac has secured two new framework agreements for the provision of engineering, procurement, construction, and commissioning (EPCC) services. ...
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Kvaerner, Aker Solutions, and Samsung to work together on FPSO projects

12 December 2019, 10:25am
Kvaerner has revealed its plan to grow annual revenues to above NOK 10 billion ($1.1B) for the year 2023. In addition, Kvaerner has entered into an agreement with Samsung Heavy Industries and Aker... ...
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Velesto to provide jack-up rig for Mubadala’s Pegaga campaign

12 December 2019, 8:57am
Velesto Drilling has been awarded a contract by UAE-based Mubadala Petroleum for the provision of a jack-up drilling rig for Pegaga development drilling campaign offshore Malaysia.  ...
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Polarcus wins 10-month seismic acquisition program in Brazil

12 December 2019, 8:13am
Seismic services provider Polarcus has been awarded a marine seismic acquisition program in Brazil.  ...
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Subsea 7 gets Ærfugl job from Aker BP

12 December 2019, 7:55am
Subsea 7 has been awarded a sizeable contract by Aker BP for the Ærfugl Phase 2 gas field development, located approximately 210km west of Sandnessjøen in the Norwegian Sea. ...
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SBM Offshore firms up Sepetiba FPSO contract with Petrobras

12 December 2019, 7:43am
SBM Offshore has signed contracts with Petrobras for the 22.5 years lease and operation of FPSO Sepetiba. ...
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Norwegian oil output in November over 13 pct higher than NPD’s forecast

12 December 2019, 7:35am
Norwegian oil production during November 2019 was significantly higher than the Norwegian Petroleum Directorate predicted, according to the directorate's report on Thursday.  ...
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Aker BP orders another subsea production system for Ærfugl from Aker Solutions

12 December 2019, 7:26am
Aker Solutions has been awarded a contract from Aker BP to deliver the subsea production system for the second phase of the Ærfugl development offshore Norway. ...
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UOG closes sale of North Sea blocks to Hibiscus

12 December 2019, 7:02am
United Oil & Gas has completed the sale of the North Sea Blocks 15/18d and 15/19b (License P2366) to Hibiscus for a headline consideration of up to $5 million. ...
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Audit finds emergency preparedness issues on Transocean rig

12 December 2019, 6:44am
Norwegian offshore safety watchdog has found 11 non-conformities related to the working environment and emergency preparedness following an audit on the Transocean Endurance rig. ...
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IHI Wins Study for Texas Gas-to-Gasoline Plant

12 December 2019, 12:00am
Primus and an undisclosed petchems JV partner commissioned the FEED study.
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Genesis, Murphy Team up in GOM

12 December 2019, 12:00am
Genesis Energy is partnering with Murphy E&P and other interest owners to provide downstream transportation services in the Gulf of Mexico.
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Basic Energy Exits Pressure Pumping Business

12 December 2019, 12:00am
The company's pumping business lines remain in a structurally disadvantaged position, as they are its most capital-intensive businesses.
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Energy Projects Above $60 Breakeven Risk Being Unprofitable

12 December 2019, 12:00am
Global energy projects that need a breakeven oil price of above $60 could become uncommercial in the next decade, according to Rystad Energy.
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Oil Prices Finish Higher Amid Mix of Factors

12 December 2019, 12:00am
WTI and Brent crude oil finished higher Thursday, buoyed by reports of progress on the U.S.-China trade front and other factors.
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$5.7B Deepwater Project Wins Chevron Approval

12 December 2019, 12:00am
Total also announced the FEED for a separate Central GOM project.
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Roan Resources to Cut Almost 100 Jobs in OKC

12 December 2019, 12:00am
The Oklahoma City-based independent is laying off 92 employees amid its merger with Citizen Energy.
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Seismic operations underway over Total’s block in South Africa

11 December 2019, 2:25pm
New marine seismic acquisition programs over the Total-operated Block 11B/12B offshore South Africa have started.  Total is the operator and has a 45% interest in Block 11B/12B, while Qatar Petroleum... ...
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Rystad: Energy projects with breakeven prices above $60 risk being uncommercial

11 December 2019, 1:26pm
Energy projects that need oil prices above $60 per barrel in order to break even risk being uncommercial going forward, according to Rystad Energy. However, massive investments in exploration and... ...
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French banks takeover offer for Bourbon ‘would lead to liquidation and total loss for shareholders’

11 December 2019, 1:03pm
If the court were to favor an offer by a group of French banks it would lead to the liquidation of the listed company Bourbon Corporation and a total loss for shareholders and bondholders. ...
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U.S. coal production employment has fallen 42% since 2011

11 December 2019, 1:00pm
The U.S. Energy Information Administration's (EIA) Annual Coal Report shows that coal mining employment has declined in the past decade as coal demand has decreased. Most U.S. coal is consumed in the electric power sector and has faced increased competition from electricity generation from natural gas and renewable technologies. U.S. coal mining employment fell from a high of 92,000 employees in 2011 to 54,000 employees in 2018, with the most dramatic decrease in the Appalachian region.
Read more... (source: www.eia.gov)


Archer eyes new North Sea contract for modular rig

11 December 2019, 12:18pm
Archer has entered into a Letter of Intent with a North Sea operator for the provision of drilling services using the modular drilling rig Archer Topaz. ...
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Springfield reveals Ghana discovery volumes

11 December 2019, 12:08pm
Springfield and its partners have officially announced significant oil discovery following its maiden Afina-1 well drilling campaign in the West Cape Three Points Block 2, offshore Ghana. ...
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Auction prices for regional carbon dioxide allowances have increased since the 2017 low

10 December 2019, 1:00pm
The Regional Greenhouse Gas Initiative (RGGI) is the first mandatory market-based program in the United States intended to reduce greenhouse gas emissions. RGGI was formed as a cooperative effort among 10 northeastern states to cap and reduce carbon dioxide (CO2) emissions from the participating states� power sectors. RGGI CO2 emission allowances are available to affected companies and other interested parties at quarterly auctions.
Read more... (source: www.eia.gov)


U.S. onshore wind capacity exceeds 100 gigawatts

9 December 2019, 1:00pm
Cumulative U.S. installed onshore wind capacity exceeded 100 gigawatts (GW) on a nameplate capacity basis as of the end of September 2019, according to the U.S. Energy Information Administration's (EIA) Preliminary Monthly Electric Generator Inventory. More than half of that amount has been installed since the beginning of 2012. The oldest wind turbines still operating in the United States came online as early as 1975.
Read more... (source: www.eia.gov)


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