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Friday, August 29, 2014 - Doubts about the sustainability of the North American oil and gas boom center on rapidly declining output from many shale wells after they are initially drilled.
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Industry Headlines

Algeria's In Amenas Gas Plant Returning to Normal after Attack
Monday, September 01, 2014 Normal operations resume at a major gas plant in Algeria, 18 months after a raid by Islamist militants killed 40 employees.
Russia's Putin Orders Gazprom to Start Gas Pipeline Construction to China
Monday, September 01, 2014 President Putin orders the start of construction of Gazprom's 'Power of Siberia' pipeline to China.
Samsung Heavy Industries to Merge with Samsung Engineering
Monday, September 01, 2014 Samsung Heavy Industries will merge with Samsung Engineering Co. to establish a total solution provider for shipbuilding and onshore and offshore services.
Drilling Furiously: Chinese Energy Giants Turn Upbeat On Shale Gas
Friday, August 29, 2014 Sinopec and PetroChina have upgraded their outlook on China's shale gas industry, citing steadily declining costs, but stopped short of predicting a near-term boom.
EIA: Tight Oil Stabilizes Brent Crude Prices
Friday, August 29, 2014 Production from US shale formations is making oil imports from OPEC countries less important.
Uganda Ups Oil Reserves Estimate By 85%, Finds Natural Gas
Friday, August 29, 2014 Uganda revises its oil reserves by 85% to 6.5 billion barrels after an appraisal that also showed commercial deposits of natural gas, officials say.

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Exploration

Greka Drilling Prepares Rigs for Essar's Drilling Program in West Bengal
Tuesday, September 02, 2014 Greka Drilling prepares five rigs for a 100-well drilling program for Essar Oil in Raniganj East Block in Durgapur, West Bengal, India.
Roxi Updates on Drilling at A5 Well in BNG Contract Area in Kazakhstan
Tuesday, September 02, 2014 Roxi Petroleum provides update on drilling at A5 well in the BNG Contract Area in western Kazakhstan.
Santos Acquires 25% Stake in Sabah's Deepwater Block S from Inpex
Monday, September 01, 2014 Inpex agrees to transfer 25 percent interest in deepwater Block S offshore Sabah, Malaysia to Santos.
Ensign's Rig 916 Prepares to Drill Tamarama-1 Well in Cooper Basin
Monday, September 01, 2014 Real Energy reports that Ensign's Rig 916 is preparing to drill Tamarama-1 well in ATP927P in Cooper Basin, Queensland, Australia.
SapuraKencana Discovers Gas at Bakong-1 Well in SK408 Offshore Sarawak
Monday, September 01, 2014 SapuraKencana Energy discovers gas at Bakong-1 well in SK408 production sharing contract offshore Sarawak, Malaysia.
Ruspetro Plans a Second Horizontal Well This Year
Friday, August 29, 2014 Ruspetro says it is planning to spud and drill another horizontal well from Pad 23b by the end of the year.
FT: Shell Submits Revised Drill Plan for Arctic
Friday, August 29, 2014 Shell has sought permission from the U.S. government to drill in the Arctic Ocean and is keeping open the possibility that it could drill there next summer, the Financial Times reports.
Africa Oil Corp. Updates on Drilling at its Kenya and Ethiopia Blocks
Friday, August 29, 2014 Africa Oil Corp. provides an updates on drilling operations at its blocks in Kenya and Ethiopia.

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Production

Nexen Eyes Restart of North Sea Buzzard Oilfield on Tuesday
Tuesday, September 02, 2014 Nexen is looking to restart the North Sea's Buzzard oilfield later on Tuesday, according to trading sources.
IKM Clinches Contract from Shell for Malikai Project Offshore Sabah
Tuesday, September 02, 2014 IKM Group clinches a contract to provide a riserless top-hole mud circulation system to Shell for the Malikai project offshore Sabah, Malaysia.
Senecio-3 Success Adds Momentum for Gas Field Development in Perth Basin
Tuesday, September 02, 2014 AWE says exploration success at Senecio-3 gas well adds momentum to the near-term development potential of Senecio gas field in the north Perth Basin, Australia.
Sources: UK North Sea Buzzard Oilfield Shuts Again
Monday, September 01, 2014 The UK's Buzzard oilfield stops production again after returning from maintenance last week.
KOGAS Says Starts Commercial Crude Oil Production in Iraq's Badra
Monday, September 01, 2014 Korea Gas Corp starts commercial crude production in Iraq's Badra oilfield as planned, the state-run South Korean company says.
ONGC to Invest $863M on Daman Development Project in Arabian Sea
Monday, September 01, 2014 Oil and Natural Gas Corporation will invest $863.2 million on the Daman Development project to boost gas and condensate production at Tapti Daman block in the Arabian Sea.
Afren Shares Drop after Kurdistan Shutdown Prompts Production Forecast Cut
Friday, August 29, 2014 Independent explorer Afren slashes its full-year production forecast by 20 percent following shutdown of its Kurdistan operations.
Russia's Lukoil Says 1H Hydrocarbon Production up 3.2% Year-on-Year
Friday, August 29, 2014 Russia's Lukoil says hydrocarbon production during its first half improved by 3.2 percent year-on-year.
Brent Falls, US Crude Rises As Global Demand Seen Weak
Thursday, August 28, 2014 Brent crude oil falls and US crude rises as ample global supply and lackluster demand pressure the global benchmark.

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Finance and Investing

Sino G&E Secures $50M Debt Facility for its Ordos Basin Gas Projects
Monday, September 01, 2014 Sino Gas & Energy secures $50 million debt facility from Macquarie Bank to fund its Ordos Basin gas projects in China's Shanxi province.
Sources: Sinopec Planning $1.5B Hong Kong IPO of Oilfield Services Unit
Friday, August 22, 2014 Sinopec is planning a $1.5 billion Hong Kong initial public offering for its oilfield services unit in the first half of 2015, people familiar with the matter said.
Santos' Underlying 1H 2014 Net Profit Up 3% YOY to $240M
Friday, August 22, 2014 Santos posts an underlying first half profit of $240.3 million, 3 percent more than last year, with the gains due to an earlier start-up of the PNG LNG project.
Dolphin Sees Possible Start of Dividend after 3Q Report
Wednesday, August 20, 2014 Seismic survey vessel operator Dolphin may soon start paying dividends after an improvement in its earnings.
Gulf's Topaz Energy Gets $75M Investment from Standard Chartered PE
Wednesday, August 20, 2014 Oman's Renaissance Services says its unit Topaz Energy and Marine had secured a $75 million investment from Standard Chartered Private Equity.
Reach Energy Whets Investor Appetite for Malaysian SPACs
Friday, August 15, 2014 Reach Energy, set up by veterans in Malaysia's oil and gas industry, made its market debut in Kuala Lumpur after completing the country's largest-ever initial public offering by a special purpose acquisition company (SPAC.)

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Company Operations

Polarcus Strengthens Company's Presence in Brazil
Tuesday, September 02, 2014 Polarcus strengthens the seismic services company's presence in Brazil.
Van Oord Orders Subsea Rock Installation Vessel from China's Sinopacific
Tuesday, September 02, 2014 Van Oord orders a new subsea rock installation vessel from China's Sinopacific Shipbuilding, with delivery expected in 2016.
UDS Inks $200M Deal ith China's ZPMC to Build Ultra Deep Multipurpose DSCV
Tuesday, September 02, 2014 Ultra Deep Solutions inks $200 million contract with China's Shanghai Zhenhua Heavy Industries to build an ultra deep multipurpose diving support construction vessel.
SapuraKencana-Linked Firms Bag $124M T&I Contracts in Vietnam, Australia
Tuesday, September 02, 2014 SapuraKencana Petroleum-linked firms TL Offshore and SapuraAcergy bag transportation and installation contracts worth $124 million in Vietnam and Australia.
ERM Power to Sell West Australian Gas Assets to Empire O&G for $15M
Monday, September 01, 2014 ERM Power agrees to dispose of its Western Australian gas assets to Empire Oil & Gas for $15.26 million.
Jasper Fails to Take Delivery of Jasper Cosmopolitan from Yulian Shipyard
Monday, September 01, 2014 Jasper Investments fails to raise sufficient funds to take delivery of Jasper Cosmopolitan accommodation semisub from China's Yulian Shipyard.
Blue Water Energy, Blackstone and GIC Invest $500M in Siccar Point Energy
Monday, September 01, 2014 Blue Water Energy, Blackstone Energy Partners and Singapore's sovereign fund GIC invest $500 million in new North Sea-focused exploration and production company Siccar Point Energy.
Falcon Oil & Gas Provides 1H 2014 Interim Results
Friday, August 29, 2014 Falcon Oil & Gas provides the company's interim results for the first half of 2014, including an update on its operations in Australia's Beetaloo permits.
Kongsberg Bags Contract from BW Offshore for Catcher FPSO
Friday, August 29, 2014 Kongsberg Maritime Engineering bags contract from BW Offshore for Catcher floating production, storage and offloading vessel.
CNOOC Posts 6.8% Rise in Net Production in 1H 2014 to 211.6 MMboe
Friday, August 29, 2014 CNOOC posts a 6.8% increase in net production to 211.6 million barrels of oil equivalent in the first half of this year, compared to 198.1 MMboe a year ago.

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