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Thursday, February 26, 2015 - Repsol posts a 27.1% increase in its adjusted net profit for 2014.
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Industry Headlines

E&P Oil Firms Using Stock Sales to De-lever
Friday, February 27, 2015 Exploration and production companies are bracing for a sustained period of low commodity prices by deleveraging through stock sales - and well-funded firms are surprisingly leading the way.
SandRidge Energy Cuts 2015 Capex By 56%
Thursday, February 26, 2015 SandRidge sets a capital budget of $700 million for 2015, 56% lower than a year earlier, as the company responds to a slump in crude oil prices.
Venezuela Seeks Annulment of Exxon Award at World Bank Tribunal
Thursday, February 26, 2015 Venezuela has requested the annulment of a World Bank tribunal award that orders it pay Exxon Mobil Corp $1.6 billion in compensation for nationalizations, both sides say.
Top Oil Drillers Face Years Of Pain, Get A Grip On Cost
Thursday, February 26, 2015 The world's biggest offshore drillers reports plunging earnings and orders but manages to get a grip on costs to improve their chances of riding out a sectoral crisis that could last.
WSJ: Oil And Gas Producer Penn Virginia Looking To Sell Itself
Thursday, February 26, 2015 Oil and gas producer Penn Virginia Corp is considering selling itself, the Wall Street Journal reports, citing people familiar with the matter.
Transocean Takes $992M Charge On Drilling Business As Oil Slumps
Thursday, February 26, 2015 Transocean writes down the value of its contract drilling business by $992 million as demand slumps due to lower oil prices.
Exxon Says Spending To Fall 11% This Year To $34B
Thursday, February 26, 2015 ExxonMobil says spending will decline about 11% this year to around $34 billion due to plunging oil prices, according to a regulatory filing this week.
Texas Legislature Gets Down to Business
Thursday, February 26, 2015 Water, transportation and taxes are amongst the key issues the Texas Legislature is set to tackle.
Oil Retreats As Rising US Inventories Continue To Weigh
Thursday, February 26, 2015 Crude oil futures fall sharply as rising inventories in the US pressure both Brent and US contracts and counter expectations for recovering demand.
UK Oil & Gas Authority Issues 'Call to Action'
Wednesday, February 25, 2015 A report from the new Oil & Gas Authority issues a "call to action" to protect and sustain the UK oil and gas industry.

more Industry Headlines articles >>

Exploration

Tasmania Maintains Moratorium on Hydraulic Fracking Until March 2020
Friday, February 27, 2015 The Tasmanian government in Australia maintains a moratorium on the use of hydraulic fracking in the state until March 2020.
Whiting Shares Tumble On Plans To Keep Fracking Despite Cheap Oil
Thursday, February 26, 2015 Whiting Petroleum struck a confident tone for 2015, saying it will hydraulically fracture all wells it drills, but that prompted a sharp drop in its share price.
Anadarko Fails to Find Commercial Resources at Mozambique's Kifaru-1 Well
Thursday, February 26, 2015 Anadarko fails to find economic reservoir at the Kifaru-1 exploration well in the Rovuma Onshore Concession in northern Mozambique.
San Leon Announces Its First Polish Commercial Gas Find
Wednesday, February 25, 2015 Junior explorer San Leon makes its first commercial gas discovery in Poland.
Inpex Secures Stakes in 2 Exploration Permits Offshore Western Australia
Wednesday, February 25, 2015 Inpex secures stakes in two exploration permits offshore Western Australia, near its Ichthys liquefied natural gas project.
Kemp: Bakken Oil Drillers Retreat To The Core
Wednesday, February 25, 2015 North Dakota's oil producers pull back to the core areas of the Bakken formation to cut costs and maximize output amid the slump in prices.
Lime Petroleum Acquires 30% Stake in PL338C off Norway from Lundin
Wednesday, February 25, 2015 Lime Petroleum acquires 30 percent interest in PL338C offshore Norway from Lundin Petroleum.
Senex Finds Oil at Martlet North-1 Well in South Australian Cooper Basin
Tuesday, February 24, 2015 Senex Energy discovers oil at Martlet North-1 exploration well on the western flank of the South Australian Coooper Basin.

more Exploration articles >>

Production

Angola Hopes To Turn Around Falling Oil, Gas Output
Thursday, February 26, 2015 Angola plans to increase its oil production by 20% by next year after suffering a difficult 2014.
US Gas Exporters Eye Baltic Region, Poland As Asian LNG Boom Fades
Thursday, February 26, 2015 LNG exporters are looking to the Baltic states and Poland to sign buyers keen to cut their reliance on Russian supplies; hopes fade that Asian demand for cheap N. American natural gas will increase sales.
CFPS Wins Engineering, Design Deal for Brazil's Parnaiba Basin Gas Project
Thursday, February 26, 2015 Fluor's joint venture firm CFPS secures an engineering and design contract from PGN for a gas field development in the Parnaiba Basin in Maranhao state in Brazil.
Argentina's YPF Disappoints With Earnings But Output Growing
Thursday, February 26, 2015 YPF disappoints the market with its earnings but announces that output at a key shale oil and gas field was ramping up.
AWE Updates on its Upstream Development Projects in Australia, Indonesia
Thursday, February 26, 2015 AWE provides an updates on the development of the company's oil and gas projects in Australia and Indonesia.
Aminex Gets Approval to Pare Stake in Tanzania's Kiliwani North License
Thursday, February 26, 2015 The Tanzanian government approves Aminex's sale of up to a 13 percent interest in Kiliwani North Development License in Tanzania to Solo Oil.
Jupiter Ready for Well Testing at East Akkar Field's Well 19 in Kazakhstan
Wednesday, February 25, 2015 Jupiter Energy prepares for well testing at Well 19 in the East Akkar field in Kazakhstan.
Mosman Progresses Crossroads-1 Flow Testing in NZ's Petroleum Creek Permit
Wednesday, February 25, 2015 Mosman Oil and Gas gets ready for flow testing at Crossroads-1 well in New Zealand's Petroleum Creek permit.

more Production articles >>

Finance and Investing

Vallianz Posts Net Record Profit of $20.4M in 2014, Lifted by OSV Segment
Wednesday, February 25, 2015 Vallianz Holdings' net profit rises to a record $20.4 million in 2014, almost twice the $10.3 million from a year ago, with the gains due mainly to contributions from its offshore support vessel chartering operations in the Middle East.
C. Bank Governor: Low Oil Prices To Hit Investment In Uganda's Oil Sector
Wednesday, February 25, 2015 The sharp drop in oil prices will likely slow down the flow of investment capital tied to Uganda's emerging hydrocarbons industry, and hurt economic growth, the country's central bank governor says.
Transocean Shares Poised For Big Move After Results
Tuesday, February 24, 2015 Transocean shares are expected to move about 8% in either direction following its earnings results.
Activist Investors Dig Deep In Energy Company Bets
Thursday, February 19, 2015 Elliot Management and Omega Advisors are among activist hedge funds buying stakes in North American oil and gas producers whose stock has fallen because of weaknesses exposed by the collapse of energy prices.
Woodside's 2014 NPAT Up 38% to $2.4B, to Cut 2015 Spending by 15-20%
Wednesday, February 18, 2015 Woodside's net profit after tax rises to $2.414 billion in 2014, up 38 percent from a year ago, but the company plans to cut investment and operating expenditures by 15-20 percent this year.
Mexico Central Bank Cuts 2015, 2016 Growth Outlook On Oil Slump
Wednesday, February 18, 2015 Mexico's central bank revises down its growth outlook for this year and next after a sharp drop in oil prices spur budget cuts and dampen the outlook for an opening of the country's energy sector.

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Company Operations

HHI's HLV HD-10000 Joins Fleet, Cost Savings of $22M a Year Seen
Friday, February 27, 2015 Hyundai Heavy Industries' heavy lift vessel Hyundai-10000 (HD-10000) will join its fleet in March, with the newbuild likely to provide cost savings of $21.9 million annually for the firm.
Statoil Awards Mariner Supply Contracts to Asco UK
Thursday, February 26, 2015 Norway's Statoil awards the supply base and warehousing contracts for the Mariner field development to Asco UK.
Premier Oil Scraps Dividend as it Swings to 2014 Loss
Thursday, February 26, 2015 UK oil producer Premier Oil scraps dividend payments after slipping into the red on the back of a steep decline in oil prices.
Repsol Defies Oil, Gas Sector Gloom with Upbeat Results
Thursday, February 26, 2015 Repsol posts a 27.1% increase in its adjusted net profit for 2014.
Offshore Driller Ensco To Shut Down Rig, Slashes Dividend
Thursday, February 26, 2015 Ensco says it would shut down an ultra-deepwater rig as demand dwindles due to a slump in crude prices, a day after it slashed its quarterly dividend by 80%.
Maersk Positions Self for 'New Oil Reality' as Profit Fall
Thursday, February 26, 2015 Maersk Drilling is bracing for the "new oil reality" facing the rig market by implementing cost-cutting and efficiency enhancement programs.
Manila Electric in Talks with Osaka Gas for $2B Natural Gas Project
Thursday, February 26, 2015 The Philippines' biggest power utility, Manila Electric Company, is in talks with Osaka Gas to build natural gas facilities worth about $2 billion, aiming to tie up long-term electricity supply, its chairman says.
Pacific Radiance Posts 20% Rise in 2014 Net Attributable Profit to $68.3M
Thursday, February 26, 2015 Pacific Radiance records a 20 percent gain in net attributable profit to $68.3 million, boosted mainly by its offshore support services unit.
Bumi Armada's 2014 Net Profit Dips 49.3% to $60.6M as OSV, T&I Underperform
Thursday, February 26, 2015 Bumi Armada's 2014 net profit fell by half from a year ago to $60.6 million due to lower contributions from its offshore support vessel as well as transport and installation businesses.
Icon Offshore Gets Petronas Carigali's LOA to Provide OSVs on Spot Charters
Thursday, February 26, 2015 Icon Offshore receives a letter of award from Petronas Carigali for the provision of offshore support vessels in Malaysia on a spot basis.

more Company Operations articles >>