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Industry Headlines

Oil Oversupply Meets Rising Demand in Quietest Market Since 2013
Friday, July 03, 2015 The sleepiest oil market since 2013 will probably limp through the second half of the year as well.
US Jobs Report: Mining Jobs Down; Modest Gains in Engineering Services
Thursday, July 02, 2015 June's jobs report shows a decline in mining jobs and modest gains in engineering services.
USGS Study Highlights Water Usage in Hydraulic Fracturing
Thursday, July 02, 2015 USGS releases first nationwide map of water usage for hydraulic fracturing.
BP Reaches $18.7 Billion Settlement Over Deadly 2010 Spill
Thursday, July 02, 2015 BP will pay a record $18.7 billion in penalties to the US government and 5 states along the Gulf of Mexico related to the 2010 oil spill.
Shale Drillers Lose Most-Precious Asset - the $90 Hedge
Thursday, July 02, 2015 The insurance that producers bought before the collapse in oil - much of which guaranteed minimum prices of $90 a barrel or more - is expiring.
Tough Contract Rescission Clauses Could Blunt Mexican Oil Opening
Thursday, July 02, 2015 Mexico's historic oil opening later this month could be undermined by company fears the government will have too much discretionary power to repeal contracts over industrial accidents and other failings.
Rig Trends: Eastern Canada Rig Market Changing
Thursday, July 02, 2015 With operations moving into deeper waters and more harsh environments, the list of suitable rigs for Eastern Canada is shrinking.
Oil Flat As US Rig Count Rise Cools Gains, Gasoline Jumps
Thursday, July 02, 2015 Crude oil prices end little changed as the first weekly gain in the US rig count this year pared earlier gains.

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Exploration

San Leon Signs Morocco Onshore Rig Contract
Thursday, July 02, 2015 San Leon Energy signs a rig contract for the drilling of the El Aaiun-4 well on the Tarfaya license, onshore Morocco.
Det Norske Completes Ivar Aasen Delineation
Thursday, July 02, 2015 Det norske oljeselskap completes the drilling of three appraisal wells on the Ivar Aasen field.
Maersk Venturer to Mobilize to Hawkeye-1 Well in Palawan Basin in Late July
Thursday, July 02, 2015 The Maersk Venturer drillship will mobilize to drill the Hawkeye-1 exploration well in Service Contract 55 in the Palawan Basin, offshore Philippines in late July.
Statoil Finds Oil, Gas near Gina Krog Field in the North Sea
Wednesday, July 01, 2015 Statoil makes a minor oil and gas discovery near the Gina Krog field in the Norwegian North Sea.
Ocean America Mobilizing to Drill Levitt-1 Prospect in WA's Carnarvon Basin
Wednesday, July 01, 2015 Ocean America semisub is mobilizing to Levitt-1 prospect in permit WA-482-P offshore Western Australia to drill an exploration well in the first week of July.
Zion in Talks with Viking for Land Rig to Drill in Megiddo-Jezreel License
Tuesday, June 30, 2015 Zion Oil & Gas is in discussions with Viking Services for the provision of a land rig to drill a well in the Megiddo-Jezreel License area in Israel.

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Production

Subsea 7 Secures Emergency Pipeline Repair Contracts Off Australia
Friday, July 03, 2015 Subsea 7 secures four contracts from Chevron and Inpex for the engineering, procurement and construction of an emergency pipeline repair system offshore Australia.
Technip Samsung Consortium Bag 2 Deals from Shell for Browse FLNG Project
Friday, July 03, 2015 The Technip Samsung consortium bags two contracts from Shell for the Browse floating liquefied natural gas project offshore Western Australia.
Origin Energy Evaluating Drilling Results of Yolla-5 Well in Bass Straits
Friday, July 03, 2015 Origin Energy is evaluating drilling results of the Yolla-5 development well in permit T/L1 in Bass Strait, offshore Australia.
PRL 15 JV Selects Key Infrastructure Sites for Elk-Antelope LNG Project
Friday, July 03, 2015 The PRL 15 Joint Venture selects key infrastructure sites for the Elk-Antelope gas field development in Papua New Guinea.
Russian Daily Oil Production Stays at Post-Soviet High in June
Thursday, July 02, 2015 Russian oil output remains at a post-Soviet high of 10.7 million barrels per day for the fourth month in a row.
Norway Decides on Johan Sverdrup Ownership Interests
Thursday, July 02, 2015 The Norwegian government decides on how the Johan Sverdrup field will be split among its five owners.
Cooper Energy Reschedules Drilling Plans for Sukananti KSO in Sumatra
Thursday, July 02, 2015 Cooper Energy reschedules drilling plans for the Sukananti KSO in Sumatra, Indonesia and will spud Bunian-4 appraisal well in mid-July.
OMV Successfully Completes Maari Redevelopment Project Off New Zealand
Thursday, July 02, 2015 OMV successfully completes Maari redevelopment project offshore New Zealand.
Wood Group Bags Origin's Pipeline Contract for HBWS Gas Project in Victoria
Thursday, July 02, 2015 Wood Group Kenny bags pipeline design contract from Origin Energy for the Halladale, Black Watch and Speculant natural gas project in Victoria, Australia.
Tullow Enjoys Strong Oil Production in West Africa
Wednesday, July 01, 2015 Tullow Oil sees strong oil production from its West African operations thanks to a solid performance from its Jubilee field, offshore Ghana.

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Finance and Investing

Petrobras Rig Supplier Said Close to Getting $4 Billion Loan
Friday, July 03, 2015 Sete Brasil, the oil rig-supplier embroiled in Brazil?s biggest graft scandal, expects to secure $4 billion in fresh funding to finish work on some rigs, says a person with direct knowledge of the matter.
China's Shouyang CBM Operator FEEC Enters Into $4M Loan Facility Agreement
Tuesday, June 30, 2015 Far East Energy, operator of the Shouyang coalbed methane production sharing contract in China, enters into a $4 million term loan facility agreement and secures an extension on an existing $1.4 million loan facility.
Mexico's Alfa Says Offer for Pacific Rubiales is 'Fair and Final'
Friday, June 26, 2015 Alfa says the offer it and Harbour Energy have made to buy oil company Pacific Rubiales is "full, fair and final".
Petrofac Expects Full Year Profit to be Weighted Towards H2
Tuesday, June 23, 2015 Petrofac expects its net profit for the year to be weighted towards the second half and states that its order book at the end of May had grown to $20.5 billion.
Carlyle Backs Former Cairn Energy Execs' Indian Venture
Monday, June 22, 2015 Carlyle Group will invest up to $500 million in Magna Energy Ltd, a new India-focused upstream oil and gas company co-founded by two former Cairn Energy executives.
Kansas MLP, Tallgrass Energy Stand Out with Dropdown Opportunities
Tuesday, June 16, 2015 Tallgrass Energy's hefty asset backlog and its fee-based structure that can withstand a volatile market attract investment banks.
KrisEnergy to Raise $123M for Thailand, Bangladesh Development Projects
Tuesday, June 16, 2015 KrisEnergy launches rights issue to raise $123 million to support its development projects in Thailand and Bangladesh.

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Company Operations

Samsung Heavy Industries Clinches $4.7B Contract to Build 3 FLNGs for Shell
Friday, July 03, 2015 South Korea's Samsung Heavy Industries clinches a $4.7 billion contract to construct three floating liquefied natural gas facilities for Shell.
Australia's Drillsearch Looking Globally for New CEO to Succeed Brad Lingo
Friday, July 03, 2015 Australia's Drillsearch Energy is looking globally for a new CEO after Brad Lingo's departure.
Cosco Agrees to Defer Delivery of a Semisub Floatel to Axis Offshore
Friday, July 03, 2015 China's Cosco Qidong agrees to defer delivery of a semisubmersible floatel to Axis Offshore to 2016, a year later than planned.
FourPoint Acquires Chesapeake's Western Anadarko Assets
Thursday, July 02, 2015 Chesapeake Energy sells western Anadarko assets to FourPoint Energy for $840 million.
UK's Hunting Warns of Profit Slump as Rig Counts Fall Further
Thursday, July 02, 2015 Oilfield services firm Hunting warns operating profit may slide by up to 75 percent this year as weak oil prices lead to ongoing cuts in drilling.
Bumi Armada Allocates More Funds from Rights Issue to FPSO, FGS Units
Thursday, July 02, 2015 Malaysia's Bumi Armada allocates more funds raised from a rights issue on its floating production, storage and offloading as well as floating gas solutions business units.
Baker Hughes: US Oil Rig Count Rises For First Time Since December
Thursday, July 02, 2015 US oil drilling this week increases for the first time after 29 weeks of declines, data show.
Opus Offshore Takes Delivery of Opus Tiger 1 Drillship in China
Thursday, July 02, 2015 Opus Offshore takes delivery of Opus Tiger 1 drillship from Shanghai Shipyard in China.
Indonesia's Pertamina May Acquire 60% of Engineering Firm Rekind
Thursday, July 02, 2015 Indonesian state energy firm Pertamina is considering acquiring a 60 percent stake in engineering contractor Rekayasa Industri (Rekind), among efforts to improve its engineering resources.
Gulf Marine Services Expands Fleet
Thursday, July 02, 2015 Although offshore support solutions for the oil, gas and renewable energy industries might be seen as a very niche business, one company in the UAE has made this space all its own.

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