Tuesday, February 09, 2010 - Ghana has blocked the $4 billion sale of a stake in a huge oil field, foiling months of talks between potential buyer ExxonMobil and the stake's owner, Kosmos Energy.
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Most Popular News
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Industry Headlines
Oil Gains More Than 2% as Dollar Loses Ground
Tuesday, February 09, 2010 - Underpinned by broader financial markets, crude oil futures climbed above $74 as investors continued to buy into riskier asset classes instead of seeking safe haven in the U.S. currency.
Tuesday, February 09, 2010 - Ghana has blocked the $4 billion sale of a stake in a huge oil field, foiling months of talks between potential buyer ExxonMobil and the stake's owner, Kosmos Energy.
OPEC to Keep Taps Open If Oil Stays Between $70-$90
Tuesday, February 09, 2010 - OPEC will call for further compliance before considering any output cut if oil falls below $70 a barrel.
Tuesday, February 09, 2010 - Husky Oil China has made its third significant gas discovery on Block 29/26 in the South China Sea.
Tuesday, February 09, 2010 - Federal regulators have denied a request by U.S. oil major ConocoPhillips to build a system of bridges to expand oil drilling on Alaska's North Slope, saying the project would harm aquatic wildlife.
Marathon Completes Sale of Block 32 Interest to Sonangol
Tuesday, February 09, 2010 - Marathon Oil has completed the sale of a 20% undivided working interest in Angola Block 32 to Sonangol's wholly owned subsidiary.
Helix, Clough Team Up for Asia Pacific Subsea Services
Tuesday, February 09, 2010 - Helix Energy Solutions Group announces the formation of a joint venture with Australian based engineering and construction company Clough Limited.
Marcellus Shale Coalition Cites Benefits from Pa. Shale Activity
Tuesday, February 09, 2010 - According to a Penn State University study, shale development activity is expected to generate approximately $603 million in state and local tax revenues this year alone.
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Exploration
Tuesday, February 09, 2010 - Encore and its co-venturers have procured rigs for both Catcher (late March to early April spud) and Cladhan (late May to early July spud), both located in the UK North Sea.
Det Norske Drills a Duster at PL 476 in North Sea
Tuesday, February 09, 2010 - Det norske, operator of production license 476, has finished drilling of exploration well 6507/11-10. The well was dry and will be permanently plugged and abandoned.
Tuesday, February 09, 2010 - Pacific Rubiales announced a new oil discovery at the Quifa-6 well, and another successful appraisal well on Prospect "E", within the Quifa Block located in the Llanos Basin of Colombia.
Tuesday, February 09, 2010 - Ascent Resources' subsidiary PetroHungaria has commenced the drilling of the PEN-101 well, part of the Penszlek Project in eastern Hungary.
Stratic Reviews Global E&P Plans for 2010
Tuesday, February 09, 2010 - Stratic Energy has provide a business update and review of its plans for 2010.
Tuesday, February 09, 2010 - Max Petroleum has received approval to drill the first exploration well in 2010 for the Astrakhanskiy License.
Alange Hits Paydirt at Cubiro Block Onshore Colombia
Tuesday, February 09, 2010 - Alange Energy reported that the Barranquero-1 well, drilled to explore the prospectivity of the Carbonera C-7 formation in Polygon B of the Cubiro Block, found 15 feet of net oil sand.
VOG Spuds La-106 Well at Logbaba Project in Cameroon
Tuesday, February 09, 2010 - Victoria Oil & Gas noted that the La-106 well was spudded on February 6, 2010 at its Logbaba gas and condensate project in Douala, Cameroon.
Tuesday, February 09, 2010 - Nexen, operator of production license 419, is in the process of completing the drilling of wildcat well 35/9-5, which will be classified as dry.
Gastem Reports on Single Frac Completions in Quebec
Tuesday, February 09, 2010 - Gastem reported the initial test results of the single frac completions at La Presentation No1 and St-Hyacinthe No1 vertical wells, located in the St. Lawrence Lowlands, Quebec.
Realm in Talks to Acquire Additional EU Shale Rights
Tuesday, February 09, 2010 - Realm Energy is in negotiations to acquire an additional European shale gas play.
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Production
Jacobs Joins ExxonMobil's Hawkins Project in Texas
Tuesday, February 09, 2010 - Jacobs will provide construction services for ExxonMobil's major enhanced oil and gas recovery project at the Hawkins Field in Texas.
Tuesday, February 09, 2010 - The Browse JV has selected the Western Australian Government's Browse LNG Precinct at James Price Point as the location to process gas from the venture's Browse Basin gas fields.
Tuesday, February 09, 2010 - Coastal Energy has provided an update for its Songkhla field operations in the Gulf of Thailand.
Long Lake Project Sees Increasing Bitumen Production
Tuesday, February 09, 2010 - With the completion of the turnaround at Long Lake, the reservoir is responding to consistent steaming and bitumen production levels are increasing.
Tuesday, February 09, 2010 - Mediterranean Oil & Gas has confirmed a significant increase in 2P oil reserves in the Oligo-Miocene carbonate reservoir of the Ombrina Mare field to 40 MMbbls.
Nicolet Permit's Utica Shale Contains OGIP of 8.67 TCF
Tuesday, February 09, 2010 - The Prospective Original Gas in Place Resources volumes for the Utica Shale on the Nicolet Permit in the St. Lawrence Lowlands is estimated at 8.67 TCF.
Range: Smith #1 Nears First Production in Texas
Tuesday, February 09, 2010 - Range Resources has provided a further update on the Company's US Gulf Coast interests.
Tuesday, February 09, 2010 - The Norwegian Petroleum Directorate's report for the fourth quarter of 2009 provides an overview of the oil and gas production, drilling activity, new discoveries and seismic acquisition during the year.
PetroQuest Ends 2009 with 179 Bcfe of Proved Reserves
Tuesday, February 09, 2010 - PetroQuest Energy ended 2009 with approximately 179 Bcfe of proved oil and gas reserves.
PSA Investigates Gas Leak at Norway's Mongstad
Tuesday, February 09, 2010 - The Petroleum Safety Authority Norway has initiated an investigation into a gas leak which took place at Mongstad in western Norway on February 8.
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Finance and Investing
Noble OKs Proposals for Total Capital Reduction Payments
Tuesday, February 09, 2010 - "Our strong cash flow, solid balance sheet and backlog, combined with confidence in the long-term favorable fundamentals of our business encouraged our Board to approve this return of value to shareholders," said Noble CEO David W. Williams.
Contango Tags $72.5MM for GOM Exploration
Tuesday, February 09, 2010 - Contango's capital expenditure budget for the remainder of calendar year 2010 calls for an investment of approximately $72.5 million to drill up to six offshore wells in the Gulf of Mexico.
Nabors Expects 4Q Results to Modestly Exceed Estimates
Tuesday, February 09, 2010 - Nabors Industries expects its fourth quarter results to modestly exceed mean estimates of $0.16 per diluted share, excluding estimated non-cash, pre-tax charges of approximately $274 million, or $0.65 per diluted share.
Cameron's 2009 Revenues Trimmed by 11%
Tuesday, February 09, 2010 - Cameron reported net income of $97.3 million, or $0.41 per diluted share, for the quarter ended December 31, 2009, compared with net income in the prior year's fourth quarter of $146.0 million, or $0.66 per diluted share.
BJ Services' 1Q 2010 Revenue Up 6% from Previous Quarter
Tuesday, February 09, 2010 - BJ Services reported that revenue in the first quarter of fiscal 2010, which ended December 31, 2009, was $931.5 million, representing a 6% increase from the $878.2 million reported in the previous quarter.
Stratic Earmarks $10MM for E&P in UK, Syria
Tuesday, February 09, 2010 - Stratic ended 2009 with net debt of $106.5 million, comprising cash (excluding restricted cash) of approximately $6 million, bank debt of $48 million and subordinated convertible loans of $64.5 million.
Toreador Commences Public Offering of Common Stock
Tuesday, February 09, 2010 - Toreador Resources is commencing a public offering of shares of its common stock for net proceeds to satisfy payment obligations.
Double Eagle Petroleum Extends Credit Facility's Maturity Date
Tuesday, February 09, 2010 - Double Eagle Petroleum has signed an amended credit agreement with its lenders to extend the maturity date on its credit facility from July 31, 2010 to January 31, 2013.
Denbury Commences Cash Tender Offers for Encore Notes
Tuesday, February 09, 2010 - Denbury Resources has commenced cash tender offers to purchase any and all of three series of Encore Acquisition Company's outstanding senior subordinated notes.
BPZ Energy Closes $140MM Convertible Senior Notes
Tuesday, February 09, 2010 - BPZ Energy closed its previously reported offering of $140 million principal amount of 6.5% convertible senior notes due March 1, 2015.
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Company Operations
BJ Services Secures Conductor-Driving Gig Offshore India
Tuesday, February 09, 2010 - BJ Services has been awarded a contract to provide conductor-driving services for the petroleum operations being carried out offshore India in the Panna-Mukta and Mid & South Tapti Fields.
Tuesday, February 09, 2010 - MSi has completed integration and deployment of its subsea simulation system, which is being used by Shell engineers to model operation of the Perdido project in the Gulf of Mexico.
Teekay, Det Norske to Develop North Sea Export Solution
Tuesday, February 09, 2010 - Teekay and Det norske have signed a cooperation agreement to jointly develop further the Teekay FlexShuttle concept, a patented export solution for advanced future offshore operations.
Tuesday, February 09, 2010 - Ferguson Modular has awarded a contract for refit and refurbishment work on its new accommodation support vessel to Ferguson Shipbuilders in Scotland.
Schilling Robotics Receives Order for 2 Next-Gen HD ROVs
Tuesday, February 09, 2010 - Schilling Robotics received an order for two of its next-generation Heavy-Duty Remotely Operated Vehicles.
Chevron to Deploy Halliburton's OpenWorks System
Tuesday, February 09, 2010 - Landmark Software and Services signed a major contract with Chevron Energy Technology Company for the global deployment of the OpenWorks R5000 data management system.
AGR Inks MGSA with ConocoPhillips Australia
Tuesday, February 09, 2010 - AGR Asia Pacific and ConocoPhillips Australia have entered into a long term Master Goods and Services Agreement for the provision of Professional Engineering Services and Support.
InterOil Purchases Drilling Rig, Equipment in New Zealand
Tuesday, February 09, 2010 - InterOil has purchased a second drilling rig. Total cash consideration for the rig and an extensive inventory of drilling and oil field service equipment, currently located in New Zealand is $4.5 million.
Saxon Oil on the Lookout for New President and CEO
Tuesday, February 09, 2010 - Saxon Oil Company announced the retirement of Richard Green as President and Chief Executive Officer and member of the Board of Directors.
GeoQuasar Touts ARKeX's Technology in Brazil, Mexico
Tuesday, February 09, 2010 - ARKeX has entered into an agreement which will see GeoQuasar Energy Solutions act as ARKeX's representative in Brazil and Mexico.
Tuesday, February 09, 2010 - DOF Subsea UK has been awarded a contract by Technip for the provision of a light construction vessel to operate offshore Angola.
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