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Industry Headlines

Oil Ends Steady Near $50; Best Monthly Gain in Brent in 7 years
Friday, April 29, 2016 Oil prices ended steady on Friday after hitting 2016 highs but finished April trading about 20 percent higher, with Brent crude having its best monthly gain in seven years.
OPEC Oil Output Surges as Iran Looks to Regain Market Share
Friday, April 29, 2016 OPEC crude production surged in April, led by Iran, which is seeking to regain market share after sanctions were lifted early this year.
ExxonMobil Profit Beats Expectations On Big Cost Cuts
Friday, April 29, 2016 ExxonMobil reports a higher-than-expected 1Q profit as it slashes costs to offset plunging crude prices and weak refining margins.
COLUMN: Technology is the Key to a Sustainable Oil, Gas Industry
Friday, April 29, 2016 Rigzone Editor-in-Chief Jon Mainwaring mulls the wisdom of Norway's energy leaders ahead of this year's Offshore Technology Conference in Houston.
UPDATE: Western Pennsylvania Natgas Pipeline Explodes, Injuring One
Friday, April 29, 2016 A natural gas pipeline outside Pittsburgh exploded on Friday, setting off a fire that destroyed a home, injuring one person inside it and forcing the evacuation of nearby residents, state and local officials said.
Five Things to Do at OTC 2016
Friday, April 29, 2016 From planning your next career move to planning your next vacation, OTC's not your typical conference.
Polls: Most Oil, Gas Pros Believe they Can Enjoy Long Career
Friday, April 29, 2016 In a series of Twitter polls, Rigzone finds that oil and gas professionals are hopeful they can enjoy a career in oil and gas despite many having considered leaving the industry recently.
EY Survey: Work Still Needed in Oil, Gas Workforce's Gender Diversity
Friday, April 29, 2016 Though progress has been made in the oil and gas industry's gender diversity issue, a recent EY survey reveals opportunities for improvement.
Sources: Saudis To Push Oil Output Higher But Won't Flood Market
Friday, April 29, 2016 Saudi Arabia's oil output will edge up close to record highs in coming weeks to meet summer demand for power but is unlikely to be pushed to the limit and flood global markets, Saudi-based industry sources says.
Fatal Helicopter Crash Offshore Norway, 13 On Board
Friday, April 29, 2016 Statoil confirms that a helicopter carrying its crew from the Gullfaks B oil platform has crashed while en route to the Bergen airport.
OTC 2016: Get To Know Houston Like An Insider
Friday, April 29, 2016 With thousands of visitors descending on Houston for the Offshore Technology Conference, Rigzone offers up a listing of some activities that show off the city's other assets.

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Exploration

Great Australian Bight May Generate $765M in N/T Exploration Spending
Friday, April 29, 2016 Australia's APPEA says the industry may spend more than $765 million on near-term exploration work if current plans to develop the Great Australian Bight resources were approved.
Falcon Outlines Drilling Plans for its Australia's Beetaloo Basin Assets
Friday, April 29, 2016 Falcon Oil & Gas outlines plans for drilling at its Beetaloo Basin assets in Australia's Northern Territory.
Cambodia Terminates Petroleum Agreement for CPHL-Held Offshore Block D
Friday, April 29, 2016 Cambodia's Ministry of Mines and Energy terminates the petroleum agreement of offshore Block D held by Mirach Energy's associate firm CPHL.
Sound Energy Expects to Receive Permission to Drill Badile Well in May
Thursday, April 28, 2016 Sound Energy expects to receive written permission to drill a well in the Badile permit in Northern Italy from the Italian Ministry of Economic Development during May.
Sterling Exits Ambilobe Block, Offshore Madagascar
Thursday, April 28, 2016 Sterling Energy (UK) Limited issues a notice of withdrawal from the Ambilobe block, offshore Madagascar to its joint venture partner Pura Vida Mauritius.
Australia's 3D Oil to Farm Out Stakes in T/49P Permit in the Otway Basin
Thursday, April 28, 2016 Australia's 3D Oil provides a quarterly update on its local upstream activities, including a plan to farm out interest in its T/49P permit in the Otway Basin off Tasmania.

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Production

Russian April Oil Output Edges Down To 10.86 Million Bpd
Friday, April 29, 2016 Russian oil production edged lower in April to 10.86 million barrels per day from a record 10.91 million in March.
Ophir Ends Talks with Schlumberger over Fortuna LNG Project
Friday, April 29, 2016 Ophir Energy has ended talks with Schlumberger over the Fortuna LNG project, after the parties hit stumbling block on terms agreed in January.
PETRONAS Canada LNG Project Chief Sees Investment Decision In Months
Friday, April 29, 2016 PETRONAS and its partners hope to make a final decision within months on whether to build what could be Canada's first liquefied natural gas export project, though further delays to the environmental review could push that timeline back.
SHI Receives Shell's Termination Notice for $4.7B FLNG Building Contract
Friday, April 29, 2016 Samsung Heavy Industries receives a notice to terminate the $4.64 billion contract from Shell to build three floating liquefied natural gas units.
Weir Sees 70% Of North American Fracking Fleet Idle
Thursday, April 28, 2016 Oil equipment maker Weir Group reports a 47% fall in 1Q oil and gas orders and estimates that 70% of North America's fracking fleet is currently idle as low crude prices slow investment in the sector.
Karoon Says PEPC's Restructuring Not Likely to Impact Brazil Work Program
Thursday, April 28, 2016 Karoon Gas Australia expects no impact on the work program for its Santos Basin blocks off Brazil despite partner Pacific Exploration and Production Corp.'s ongoing restructuring.

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Finance and Investing

Eni Makes Progress on $8B Asset Sales Goal
Friday, April 29, 2016 Eni is on track to sell assets worth 5 billion euros in the next two years as the oil major looks for resources to fund high-profile projects in Egypt and Mozambique and offset the impact of lower oil prices.
Russia's Yamal LNG Signs $12B Of Loan Deals With Chinese Banks
Friday, April 29, 2016 Russia's Novatek-led Yamal LNG signs loan agreements with Chinese banks worth $10.6 billion and $1.5 billion, Yamal LNG says.
Eland to Raise Funds for Gbetiokun-1 Well in Nigeria
Friday, April 29, 2016 Eland Oil & Gas plc aims to raise approximately $15 million through a placing of its shares in order to fund operations at the Gbetiokun-1 well in Nigeria.
CNOOC's 1Q 2016 Revenue Falls to $3.8B, Down 30.7% YOY
Friday, April 29, 2016 CNOOC's revenue falls to $3.8 billion in the first quarter of 2016, down 30.7 percent from last year as low oil prices continue to weigh on the firm's turnover.
Oil Sands Cash Burn Deepens as Cheap Canadian Crude Saps Profits
Thursday, April 28, 2016 In a week when oil prices are rallying, financial results from one of the world?s costliest places to extract crude are a reminder of how bad things have been for energy producers.

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Company Operations

Oil Firm Det Norske Repeats 2016 Guidance, 1Q In Line
Friday, April 29, 2016 Det norske reports 1Q operating earnings in line with expectations and repeats its outlook guidance for 2016.
Fugro to Cut 600 Employees in 'Coming Quarters'
Friday, April 29, 2016 Fugro will reduce its headcount by around 600 employees in "the coming quarters" as it continues to adjust its cost base and capacity to "the market reality".
Premier Completes E.ON North Sea Asset Acquisition
Friday, April 29, 2016 Premier Oil plc completes the acquisition of UK North Sea assets from E.ON.
Eni Swings To Net Loss But Operating Profit Beats Expectations
Friday, April 29, 2016 Eni beats operating profit expectations in 1Q despite swinging to a net loss because of weak oil prices and a charge on its Saipem holding.
ConocoPhillips Tables Asset Sales As Rout Worsens Buyer's Market
Friday, April 29, 2016 ConocoPhillips is pulling some of its assets off the market as a prolonged industry downturn makes it harder to get the desired prices.
Oil Service Firm Aker Solutions Says Market Uncertainty Persists
Thursday, April 28, 2016 Aker Solutions posts 1Q earnings in line with expectations and says outlook for its core Norwegian market still looks subdued this year amid the lower crude prices.

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Brent Crude Oil : $48.13/BBL 0.02%
Light Crude Oil : $45.92/BBL 0.23%
Natural Gas : $2.17/MMBtu 4.83%
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