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Industry Headlines

Baker Hughes: US Oil Drillers Add Rigs For The Sixth Week In A Row
Friday, August 28, 2015 US energy firms added one oil rig this week, the sixth consecutive week of increases even as US oil prices flirt with 6-1/2-year lows.
New IEA Boss Faces World Energy Landscape In Flux
Friday, August 28, 2015 The new head of the International Energy Agency faces dilemmas that challenge the purpose of the body set up to protect the interests of the West against the power of OPEC in the 1970s.
Alberta To Keep Oil, Gas Royalty Framework To End-2016
Friday, August 28, 2015 Alberta's oil and gas royalty framework will remain in place until the end of 2016, Energy Minister Marg McCuaig-Boyd says.
Rattled by Pure Sentiment in August, Markets Return Focus to Fundamentals
Friday, August 28, 2015 Following stock market chaos in August that brought oil prices down to 6-year lows, oil traders focus again on the persistent global oil oversupply situation.
Environmental Groups to Sue EPA Over Waste Disposal Rules
Friday, August 28, 2015 Several environmental groups plan to sue the EPA, claiming the agency has failed in its duty to review and update regulations associated with oil and gas waste.
More Oilfield Services M&A Likely On The Way
Friday, August 28, 2015 Lower-for-longer volatility coupled with the recent pairing of mega energy companies Schlumberger and Cameron suggest oilfield services may be running out of time for wishful thinking.
For OPEC, This Year's Painful Oil Slump Will Bring Gains in 2016
Friday, August 28, 2015 While OPEC's fight to snatch market share from rival oil producers might look like a costly failure as prices languish below $50 a barrel, an entirely different picture could emerge next year.
US Crude Jumps 6% In Second Day Of Short-Covering Frenzy
Friday, August 28, 2015 US crude rose 6%, notching its first weekly gain in two months, after a rally in gasoline.

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Exploration

UIL Energy to Acquire Perth Basin 2D Seismic
Friday, August 28, 2015 UIL Energy plans to acquire up to 164 miles of 2D seismic data across three central Perth Basin permits.
IOG Gets 3-Month Skipper License Extension
Friday, August 28, 2015 Independent Oil and Gas is granted a three month extension for the Skipper license, located in the North Sea, by the Oil and Gas Authority.
Buru Energy Hits Oil at Praslin 1 Well
Friday, August 28, 2015 Buru Energy Limited encounters oil at the Praslin 1 exploration well, located in Western Australia.
NPD Grants Statoil Drilling Permit in North Sea
Thursday, August 27, 2015 The Norwegian Petroleum Directorate grants Statoil Petroleum AS a drilling permit for well 25/11-28, located in the central part of the North Sea in production license 169.
Pilot Energy Gets Clearance to Vary Work Program for Permit WA-503-P Off WA
Thursday, August 27, 2015 The National Offshore Petroleum Titles Administrator approves Pilot Energy's application to vary its work program for Permit WA-503-P offshore Western Australia.
Tap Oil Signs PSC for Block M-7, Brings Myanmar 2013 Bid Round to a Close
Thursday, August 27, 2015 Tap Oil signs a production sharing contract for Block M-7 in Myanmar's Moattama Basin, formally bringing to a close the 20 blocks offered by the Ministry of Energy under the 2013 bid round.

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Production

Denmark Expects to Maintain Present Oil and Gas Production
Friday, August 28, 2015 Denmark expects to maintain its current production of oil and gas for the next two and a half years, according to new estimates from the Danish Energy Agency.
Iran to Offer South Pars Oil Project at London Conference
Thursday, August 27, 2015 Iran will offer a project to extract oil from its South Pars gas field at a conference in London later this year, according to an Iranian official.
KRG Allocates $75-$100M as Payment for IOCs
Thursday, August 27, 2015 The Kurdistan Regional Council for Oil & Gas Affairs approves the allocation of $75-$100 million of the revenue from the KRG's direct crude oil sales as payment for exporting international oil companies.
WA Supreme Court Sets Aside NGPH's Statutory Demand for Tap Oil Payment
Thursday, August 27, 2015 Western Australia's Supreme Court sets aside a statutory demand from Northern Gulf Petroleum Holdings for Tap Oil to make payment relating to the G1/48 concession in the Gulf of Thailand.
Maersk Seeks to Shut Oil Installation in UK North Sea
Wednesday, August 26, 2015 Maersk Oil seeks regulatory permission to shut its Janice installation, which produces around 7,000 barrels per day from three UK North Sea oilfields.
Mosman Plans to Acquire New Zealand's Upstream Assets from Origin Energy
Wednesday, August 26, 2015 Mosman Oil and Gas plans to acquire New Zealand upstream oil and gas assets, including the Rimu, Kauri and Manutahi fields from Australia's Origin Energy.

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Finance and Investing

Halliburton Believers Stand to Win Big Betting on Deal: Real M&A
Friday, August 28, 2015 Traders willing to bet the biggest oil- services deal can survive regulatory scrutiny stand to rake in more than $3 billion in profit.
India To Raise $1.4B From Top Oil Refiner Stake Sale
Monday, August 24, 2015 India will raise about 93.79 billion rupees ($1.4 billion) from selling a stake in state-run refiner and fuel retailer Indian Oil Corp, the government says.
Australia's Santos Posts 82% Fall in 1H 2015 Net Profit to $27M
Friday, August 21, 2015 Santos's first half 2015 net profit fell 82 percent to $27 million, with the decline attributed to lower oil prices and higher exploration expense.
Indonesia's Pertamina Says To Only Need Fraction Of Planned Debt Financing
Tuesday, August 18, 2015 Pertamina slashes the amount it plans to raise through long-term debt financing this year after the government paid back some fuel-subsidy money it owed the state energy company.
Australia's Santos Denies Plans to Launch Equity Raising
Monday, August 17, 2015 Santos denies plans to launch an equity raising, adding that it retains ample liquidity.
Sources: UAE's TAQA Close to Signing $3.1B Loan
Wednesday, August 12, 2015 TAQA is close to completing a $3.1-billion five-year loan that will be used to consolidate existing debts into a new, lower-cost facility.

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Company Operations

Maurel & Prom Eyes Further Merger After MPI Deal To Cope With Low Oil Price
Friday, August 28, 2015 Maurel & Prom says it was reabsorbing its former Nigerian unit MPI as a first step towards tripling in size to cope with the impact of a plunge in the oil price.
Russian Oil Firms Raise Profits And Output, Spurred By Rouble Weakness
Friday, August 28, 2015 Russian oil firms are increasing their rouble profits and raising production as a weak currency protects their business, which has turned into one of the world's most profitable.
Lukoil's 2Q Profit Falls
Friday, August 28, 2015 Lukoil's net income of $1.01 billion in the second quarter of 2015 marked a decrease of over 50% compared to the $2.40 billion figure recorded in 2Q 2014.
Icahn Takes Stake in Rout-Beleaguered Freeport-McMoRan
Friday, August 28, 2015 The billions in cutbacks that Freeport-McMoRan has taken in its battle against plunging commodity prices may not be enough for one of its newest shareholders, billionaire activist investor Carl Icahn.
McDermott Awarded Record Services Contract by Saudi Aramco
Thursday, August 27, 2015 McDermott International is awarded a record lump sum contract by Saudi Aramco for brownfield work in various fields offshore Saudi Arabia.
Molopo Energy Appoints New Non-Executive Director
Thursday, August 27, 2015 Molopo Energy Limited announces the appointment of a new non-executive director to its board.
Dyna-Mac Bags $8.5M Fabrication Contract from Singapore-based Firm
Thursday, August 27, 2015 Dyna-Mac Holdings bags an $8.5 million fabrication contract from a Singapore-based company.

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