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Industry Headlines

Denton May Repeal Local Fracking Ban
Friday, May 29, 2015 City leaders in the North Texas college town, which inspired a new law putting drilling rules in the hands of the state, are reconsidering their ban, but not their position.
Mexico Lifts Bidding Limits For First Batch Of Oil Tenders
Friday, May 29, 2015 Mexico's oil regulator votes to relax previously established rules on bidding terms and contracts that form the first step in a historic sector opening that kicks off this summer.
Wildfire Intensifies Near Two Alberta Oil-Sands Sites
Friday, May 29, 2015 An out-of-control wildfire, burning near two major oil sands projects in the key crude-producing region of northern Alberta, grew in size on Friday.
Dutch Court Rejects Request to Cut Gas Output at Eemskanaal
Friday, May 29, 2015 A Dutch court rejects an application to have gas production halted at Eemskanaal due to concerns that continued extraction is causing earth tremors.
Chinese Teapots Provide Edge Over US for World's Top Oil Buyer
Friday, May 29, 2015 China's lead over the U.S. as the world's biggest buyer of crude oil is poised to get bigger, and it's largely thanks to teapots.
Rare Run Of Oil Finds Is Little Respite For Price-Hit Explorers
Friday, May 29, 2015 Exploration firms have made a rare run of oil and gas discoveries in recent weeks as more targeted search strategies bear fruit.
Mighty Aphrodite: Offshore Cyprus
Friday, May 29, 2015 Rigzone takes a look at the development options for the Aphrodite gas field, which lies off the coast of Cyprus in the eastern Mediterranean.
Somalia May Pay 90% Oil Revenue to Explorer Under Draft Deal
Friday, May 29, 2015 Soma Oil & Gas Holdings Ltd. has proposed a deal with the Somali government that may grant it as much as 90% of the country's prospective oil revenue.
Management 101: Lessons, Tips and Advice from Former GE CEO Jack Welch
Friday, May 29, 2015 Former GE Chairman and CEO Jack Welch shares his experiences and strategies for managing employees.
Oil Leaps As Dollar Rally Stalls, US Rigs Fall
Friday, May 29, 2015 Crude oil prices jump almost 5%, their biggest rally in six weeks, setting off a renewed rush of bullish bets.

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Exploration

Three-Well Drilling Campaign Begins in Beetaloo Basin, Northern Australia
Friday, May 29, 2015 Falcon Oil & Gas announces that operations have commenced on a three-well drilling campaign in the Beetaloo Basin in Australia's Northern Territory.
Premier Oil Exits Onshore Block 2B in Kenya
Friday, May 29, 2015 Premier Oil withdraws from onshore Block 2B in Kenya.
Petrobras, Galp, QGEP, Barra Confirm Large Brazil Oil Discovery
Friday, May 29, 2015 Petrobras, Portugal's Galp and Brazilian oil companies QGEP and Barra Energia have confirmed that the giant Carcara offshore find extends far beyond the initial discovery, Barra says.
Key Petroleum Prepares for Dunnart-2 Completion, Testing Ops in Perth Basin
Friday, May 29, 2015 Key Petroleum to commence completion and testing operations at Dunnart-2 well in permit EP437 in Western Australia's onshore Perth Basin shortly.
NPD Grants Det Norske Drilling Permit for Ivar Aasen Field
Thursday, May 28, 2015 The Norwegian Petroleum Directorate grants Det Norske Oljeselskap a drilling permit for well 16/1-22 A in the Ivar Aasen field.
Kina Prepares to Further Drilling at Raintree-1 Well in PPL 337 in PNG
Thursday, May 28, 2015 Kina Petroleum prepares for further drilling at the Raintree-1 exploration well in PPL 337 in Papua New Guinea.

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Production

Apache Expects Minimal Impacts from Well Shut-Ins
Friday, May 29, 2015 Apache Corp. expects minimal production impacts as a result of well shut-ins due to flooding in Texas.
Total CEO: Funds for Yamal LNG to be Unblocked by End-2015
Friday, May 29, 2015 Total CEO says he expects funding for the $27-billion Yamal LNG project to be made available by lenders before the of the year.
Xcite Confirms $35-per-Barrel Costs for Bentley Field
Friday, May 29, 2015 Xcite Energy makes a small loss for the first quarter were confirming the project economics for the development of its Bentley field work out at $35 per barrel.
PPP Drops Plans to Sell Stakes in NZ's Tui Oil and Vietnam's CRD Projects
Friday, May 29, 2015 Pan Pacific Petroleum drops plans to sell its stakes in New Zealand's Tui oil project and Vietnam's Ca Rong Do project.
Indonesia's Pertamina Proposes to Take over Sanga-Sanga Oil Block
Friday, May 29, 2015 Pertamina has put forward a proposal for it to take over the Sanga-Sanga oil block, Wiratmaja Puja, director general oil and gas at Indonesia's Energy Ministry, tells reporters.
AWE Continues Drilling at Waitsia-1 Appraisal Well in Western Australia
Friday, May 29, 2015 AWE continues drilling at Waitsia-1 appraisal well in Perth Basin, Western Australia to test gas potential of the Waitsia field.
AOD Reduces Day Rates for 3 Jackups Working for Saudi Aramco
Friday, May 29, 2015 Asia Offshore Drilling reaches agreement with Saudi Aramco to reduce day rates for three jackups operating offshore Saudi Arabia.

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Finance and Investing

North Dakota Oil Producers To Miss Out On $480 Million Tax Cut
Friday, May 29, 2015 North Dakota's oil industry will miss out on a roughly $480 million tax cut over the next six months due to the recent rise in crude prices.
Afren to Receive $93 Million Cash Boost Following Revenue Decrease
Friday, May 29, 2015 Afren announces that it will receive an extra $93 million in net cash proceeds, following a difficult financial year.
Songa Offshore Reports Total Revenue Decrease in 1Q 2015
Friday, May 29, 2015 Songa Offshore reports that total revenue for the company decreased from $154.7 million in 1Q 2014 to $108.3 million in 1Q 2015.
Providence Resources Reports $12 Million Loss in 2014
Wednesday, May 27, 2015 Providence Resources reports a loss of $12.4 million dollars in its preliminary results for the year ended December 31, 2014.
Bumi Armada's 1Q 2015 Net Profit Up 11.2% to $19M, Lifted by FPSO Segment
Wednesday, May 27, 2015 Bumi Armada posts an 11.2 percent increase in net profit for first quarter 2015 to $18.5 million, with gains due mainly to contributions from its floating production business.
American Energy Partners Units Seek Bonds Deals in Oil Slump
Wednesday, May 27, 2015 Two oil and gas units of Aubrey McClendon's American Energy Partners LP are seeking bond deals after cutbacks in planned production.
Range Resources Secures Funding Deal with Chinese Investment Group
Tuesday, May 26, 2015 Range Resources signs Memorandum of Understanding with Beijing Sibo Investment Management, which could unlock up to $35 million of funding.

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Company Operations

MOL Group Announces Freshhh 2015 Winners
Friday, May 29, 2015 MOL Group announces the winners of the Freshhh 2015 competition, which sees students from all over the world compete in technology and business strategy simulations related to the oil and gas industry.
Polarcus Signs Seismic Services Deal with NAMCOR
Friday, May 29, 2015 Polarcus signs a deal to collaborate on seismic data acquisition and geoscience analysis with the National Petroleum Corporation of Namibia.
Baker Hughes: US Oil Drillers Pull 13 Rigs, Biggest Drop in 4 Weeks
Friday, May 29, 2015 Energy firms pulled another 13 rigs from US oil fields this week, the biggest drop in four weeks.
Circle Oil Appoints New CEO
Friday, May 29, 2015 Circle Oil announces the appointment of Mitchell Robert Flegg as the new Chief Executive Officer of the company.
Cosco Guangdong Agrees to Defer Delivery of 2 PSVs to U.S. Firm to Mid-2016
Friday, May 29, 2015 China's Cosco Guangdong Shipyard agrees to defer delivery of two platform supply vessels to a U.S. firm to mid-2016.
KCA, Rigzone to Host Houston Energy Breakfast on Unconventional Updates
Thursday, May 28, 2015 The theme of the June 12 Houston Energy Breakfast is "The Unconventional Revolution". The expert panel will present a view on top of mind issues, concerns and predictions.

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