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Industry Headlines

Larger UK Offshore Workers Could Force Helicopter Safety Changes
Friday, February 12, 2016 Robert Gordon University survey finds that male offshore workers are larger than a typical UK male, which could affect how offshore workers are evacuated from ditched helicopters.
Aker Posts Lower Profits, Cuts Workforce Salary
Friday, February 12, 2016 Aker Solutions becomes the latest oil and gas services company to announce a fresh round of cuts amid the lower oil price.
Consultancy: Hunt For UK North Sea Oil, Gas To Hit 45-Year Low
Friday, February 12, 2016 The number of new exploration wells to be drilled in the UK part of the North Sea this year is set to be the lowest since the hunt for oil and natural gas began there in the early 1970s.
US Oil Explorers Park Rigs as Crude Below $20 Seen
Friday, February 12, 2016 Explorers idled more drilling rigs in US oilfields this week as record supplies begin to make crude prices in the teens a real possibility.
China's Natural Gas Demand Feels the Heat from Economic Slowdown
Friday, February 12, 2016 In regard to China's gas demand growth, will the proverbial glass be half-empty or half-full in 2016?
Maersk CEO: Oil Above $55 Is A Long-Term Inevitability
Thursday, February 11, 2016 After testing a 12-year low, the price of oil simply has to go up.
Meet the Texas Railroad Commission's New Executive Director: Kim Corley
Thursday, February 11, 2016 Less than two weeks in the new position, Texas Railroad Commission's Executive Director Kim Corley shares her excitement with working with commissioners and continuing the agency's mission.

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Exploration

Premier, Noble Terminate Contract for Eirik Raude Rig
Friday, February 12, 2016 Premier Oil and its partner, Noble Energy, decide to terminate their contract for Eirik Raude after several technical issues with the rig.
Polarcus Secures 4D Survey Project Offshore Norway
Friday, February 12, 2016 Polarcus Limited will conduct a 4D survey project over a field offshore Norway in May this year.
Pura Vida in Talks to Drill a Second Well in Mazagan Permit Off Morocco
Friday, February 12, 2016 Pura Vida Energy is in discussions to drill a second well at the Mazagan permit offshore Morocco.
Rey Commences Legal Action to Order OBL to Quit as Operator of Derby Block
Friday, February 12, 2016 Rey Resources commences legal proceedings against Oil Basins Ltd. in Western Australia's Supreme Court seeking orders for the latter to resign as operator of the Derby Block in the Canning Basin.
Woodside Discovers Gas at Thalin-1A Well Offshore Myanmar
Friday, February 12, 2016 Woodside discovers gas at Thalin-1A prospect in deepwater Block AD-7 in the Rakhine Basin offshore Myanmar.

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Production

PJSC Ukrnafta Forced to Stop Production at Ukrainian Fields
Friday, February 12, 2016 PJSC Ukrnafta has been forced to stop oil and gas production at the Yuriivske, Golubovske and Lopushnianske fields due to the withdrawal of licenses.
Dual Treatment Regimen Shows Promise for Stripper Well Production
Thursday, February 11, 2016 An increase in stripper well production could make these wells more profitable in a time of low oil prices.
Buru Energy Plans Flow Test at Ungani Far West 1 Well in WA's Canning Basin
Thursday, February 11, 2016 Buru Energy plans to carry out a flow test at Ungani Far West 1 well in Western Australia's Canning Basin after releasing drilling rig.
SKK Migas Approves Ramba's Farm-out of 35% Stake in Lemang PSC to Mandala
Thursday, February 11, 2016 Indonesia's upstream oil and gas regulator SKK Migas approves Ramba Energy's farm-out of a 35 percent interest in Lemang block in Sumatra to Mandala Energy.
New Generation of Microchips to Reduce Production Costs
Wednesday, February 10, 2016 Researchers at Rice University develop new generation of microchips that can allow producers to reduce production costs.
Nobel Upstream to Acquire 7.59% Stake in North Sea Maclure Field
Wednesday, February 10, 2016 Nobel Upstream signs an agreement to acquire a 7.59% non-operated interest in the Maclure oil and gas field from Shell.

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Finance and Investing

Paragon Offshore To File For Pre-Packaged Bankruptcy
Friday, February 12, 2016 Paragon Offshore says it will file for Chapter 11 bankruptcy, becoming the first US energy-related company to seek court protection from creditors this year.
Cenovus Energy To Sell Up To $5B In Securities Amid Oil Slump
Friday, February 12, 2016 Cenovus Energy may sell up to $5 billion of stock, debt and other securities as the company shores up its balance sheet amid a slump in oil prices.
Blackstone Aims New Fund At Troubled Offshore Drilling Market
Thursday, February 11, 2016 Blackstone Group launches a fund to finance the troubled offshore drilling and services sector, the US private equity firm says.
Russia's Gazprom Looking To Raise $2B Syndicated Loan
Thursday, February 11, 2016 Gazprom is looking to raise a $2 billion syndicated loan from international banks, according to two banking sources.
Devon Says Hires Jefferies To Sell Non-Core Assets To Cut Debt
Wednesday, February 10, 2016 Devon Energy has hired the US investment bank Jefferies Group LLC to market assets across four major shale basins to raise cash and slash debt.
Oil Industry's Plan to Keep Investors Happy: Borrow More Money
Tuesday, February 02, 2016 The world?s largest oil companies have a plan to weather the worst market in over a decade: borrow more money.

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Company Operations

North Energy, Explora Petroleum Combine to form North E&P AS
Friday, February 12, 2016 North Energy and Explora Petroleum AS combine to form a single company named North E&P AS, following the completion of North?s acquisition of Explora.
Saipem Counting the Cost of Going Solo in Low Oil Price World
Friday, February 12, 2016 Low oil prices and little sign of recovery anytime soon leaves Italian oil contractor Saipem ill-prepared to cope with a new life independent from its former parent Eni.
Austria's OMV Aims to Sell Turkish Unit Petrol Ofisi
Friday, February 12, 2016 OMV seeks a buyer for its Turkish unit, Petrol Ofisi, in line with the firm's strategy of focusing on upstream and integrated downstream businesses.
Dril-Quip to Set Up a $15M R&D Facility for HPHT Applications in Singapore
Friday, February 12, 2016 Dril-Quip is establishing a $15 million research and development facility in Singapore focusing on materials and products suitable for high pressure and high temperature applications.
Alliance Bags Jet Services Deal from Santos for Latter's Cooper Basin Ops
Friday, February 12, 2016 Alliance Aviation Services bags a five year deal to provide jet services to Santos for the latter's oil and gas operations in Australia's Cooper Basin.
Indonesia's Ministry of Finance Imposes Customs Duty on Jackup KS Java Star
Friday, February 12, 2016 Indonesia's Finance Ministry imposes customs duty on KS Energy's jackup KS Java Star.

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Brent Crude Oil : $30.06/BBL 2.52%
Light Crude Oil : $26.21/BBL 4.51%
Natural Gas : $1.99/MMBtu 2.92%
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