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Industry Headlines

European Majors Reap Benefits of Cost-Cutting Measures
Tuesday, July 28, 2015 Statoil and BP are reaping the benefits of cost cutting across their operations.
Deep-Sea Plan Fails, Leaving Korean Shipyards Struggling
Monday, July 27, 2015 The deep-ocean strategy is coming back to bite South Korean shipyards.
OGA Names Final Winners from 28th Offshore Licensing Round
Monday, July 27, 2015 The UK's Oil and Gas Authority announces the remaining winners from the 28th Offshore Licensing Round, which covers 353 blocks on the UK Continental Shelf.
Wood Mac: Deep-Sea Oil Projects Make Up Most of $200B Deferrals
Monday, July 27, 2015 Oil and gas projects in deep basins account for most of the deferred investments worth more than $200 billion made due to the oil price crash, analysts say.
Report: Green Group Sues ConocoPhillips, CNOOC over China Oil Spill
Monday, July 27, 2015 China Daily reports that a maritime court in Qingdao will hear a landmark case brought against US oil giant ConocoPhillips and China's CNOOC.
What Now for UK Shale Gas?
Monday, July 27, 2015 Rigzone asks UKOOG Chief Executive Ken Cronin what's next for the UK's nascent shale gas industry.
Oil Hits 4-Month Low On China Stock Market Dive, Supply Concern
Monday, July 27, 2015 Crude oil futures hit 4-month lows after a steep drop in China's stock markets spark concern about the economic health of the world's biggest energy consumer.

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Exploration

Total Likely to Get Rights to Explore for Oil, Gas Offshore Sri Lanka
Tuesday, July 28, 2015 Sri Lanka expects to grant Total rights to explore for oil and gas off the country's east coast, according to local media.
Seabed Solutions Bags $125M Deal from ADNOC for Ghasha-Butini Field Survey
Tuesday, July 28, 2015 Seabed Geosolutions bags $125 million contract with Abu Dhabi National Oil Company for survey over the Ghasha-Butini field off the United Arab Emirates.
Red Emperor Completes Otto Energy Farm-in Agreement
Monday, July 27, 2015 Red Emperor Resources completes its farm-in agreement with Otto Energy Limited, following a formal notification of approval from the Department of Energy of the Republic of the Philippines.
Waitsia-2 Appraisal Well Onshore Australia Hits TD
Monday, July 27, 2015 The Waitsia-2 appraisal well, operated by AWE Limited, reaches a total depth of 11,581 feet.
MX Oil Announces Aje 5 Well Spud Offshore Nigeria
Monday, July 27, 2015 MX Oil announces the spud of the Aje 5 production well, which is located in the Aje Field on the OML 113 license offshore Nigeria.
China Answers Japan Oil Rig Concern With Joint-Development Offer
Friday, July 24, 2015 China repeats a call for talks with Japan over joint development of gas and oil resources in contested waters in the East China Sea.
AWE Drops Plans to Proceed with WA's Drover-1 Phase 2 Exploration Program
Friday, July 24, 2015 AWE drops plans to proceed with Phase 2 of the Drover-1 exploration program in permit EP455 the Perth Basin, Western Australia.
Bowleven Discovers Hydrocarbons Onshore Cameroon
Friday, July 24, 2015 Bowleven announces that Zingana, the first in a 2 well exploration program on the Bomono Permit onshore Cameroon, has discovered hydrocarbons.

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Production

Douglas-Westwood Comments on the Evolution of Subsea EPC
Tuesday, July 28, 2015 Douglas-Westwood comments on the evolution of subsea enginering, procurement and construction sector.
APLNG Moves Closer to Commencing Ops at First LNG Train in Curtis Island
Tuesday, July 28, 2015 Australia Pacific LNG moves closer to commencing operations of the first liquefied natural gas train in Curtis Island, Australia.
Cooper Energy Spuds Bunian-4 Well in Sukananti KSO in South Sumatra
Tuesday, July 28, 2015 Cooper Energy spuds Bunian-4 appraisal well in Sukananti KSO, South Sumatra, Indonesia.
Galp Produces Solid Results for 2Q 2015
Monday, July 27, 2015 Portugal's Galp Energia produces 'another solid upstream result' according to analysts who follow the firm.
Libya Crude Output Drops as Conflict Cuts Power at Oil Fields
Monday, July 27, 2015 Libya's crude production drops below 400,000 barrels a day as the conflict in the divided North African country cut electricity supply at oil fields, according to the state-run National Oil Corp.
Mexico's Pemex To Ship 6 Million Barrels Of Crude To Japan Refinery
Friday, July 24, 2015 Mexico's Pemex said it agrees to ship six million barrels of its light crude to Japan's largest refinery over the next six months, as the state-run oil company seeks to further develop its ties with Asia.
Huarong Optimisitc About Operations at its Kyrgyzstan Project
Friday, July 24, 2015 China Huraong Energy Co. is optimistic about its upstream operations in the Kryrgzstan project.
After Deadly Blast, 2.7 Million Barrels of Pemex Oil Go Missing
Friday, July 24, 2015 Since a deadly blast on April 1 tore through one of Pemex's offshore platforms, the Mexican oil giant baffles industry analysts with its assessment of the damage.
POGC Commences Pipelay for Phases 20, 21 of the South Pars Gas Project
Thursday, July 23, 2015 Iran's Pars Oil and Gas Company commences pipelay work for Phases 20 and 21 of the South Pars gas project, located on the Iranian border with Qatar in the Persian Gulf.

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Finance and Investing

SBM Completes $1.55B Financing of FPSO Cidade de Saquarema
Tuesday, July 28, 2015 SBM Offshore completes $1.55 billion financing of FPSO Cidade de Saquarema, which will deploy for work in the Lula field offshore Brazil when ready.
Default Worries Close Bond Market Door To E&P Names
Friday, July 24, 2015 US oil exploration and production firms are again seeing their access to debt capital markets shrink, after a slide in oil prices put worries about defaults back on the radar.
PGS Reveals $80 Million Year-on-Year Revenue Loss in 2Q 2015
Thursday, July 23, 2015 PGS reveals a revenue loss of over $80 Million in 2Q 2015, compared to the same period last year.
Thai PTTEP 2Q Profit Plunges on Forex, Oil Hedging Losses
Thursday, July 23, 2015 PTT Exploration and Production PCL (PTTEP), Thailand's largest oil and gas explorer, says its second quarter net profit slumped 94 percent, dragged by a fall in revenue, and foreign exchange and oil hedging losses.
Chesapeake Energy Suspends Dividend Payments
Tuesday, July 21, 2015 Chesapeake says it will suspend dividend payments starting in the current quarter to save up to $240 million a year.
FT: Shell Expected to Reduce Capex for the Year
Monday, July 20, 2015 Shell, which is all set to acquire rival BG, may cut its capital expenditure for the year by several billion dollars from the previously announced $33 billion figure, the Financial Times reports.
Cosco Issues Profit Guidance for 2Q 2015, Blames Low Oil Prices
Thursday, July 16, 2015 Cosco issues profit guidance for second quarter 2015 financial results, citing low oil prices and its adverse impact on the global offshore marine industry as a factor.

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Company Operations

Trapoil Merges with Jersey Oil and Gas
Tuesday, July 28, 2015 Junior energy firms Trapoil and Jersey Oil and Gas agree to merge.
Statoil CEO Sees Oil at $80 by 2018
Tuesday, July 28, 2015 Statoil CEO Eldar Saetre sees the price of oil climbing to $80 per barrel by 2018.
BP Misses 2nd Quarter Profit Forecast on Spill Charge
Tuesday, July 28, 2015 BP misses 2Q 2015 profit expectations due to a $9.8 billion pre-tax charge related to the 2010 Macondo oil spill.
Technip Secures Subsea Tie-in Contract for PETRONAS' PFLNG1 Facility
Tuesday, July 28, 2015 Technip secures an engineering, procurement, construction, installation and commissioning contract from Petronas Carigali for the tie-in of Petronas FLNG1 facility to KAKG-A platform in Kanowit field, offshore East Malaysia.
Dayang Increases Stake in Malaysia's Perdana Petroleum to 51.21%
Tuesday, July 28, 2015 Dayang Enterprise's proposed takeover of Malaysia's Perdana Petroleum becomes unconditional after gaining more than 50 percent ownership of the latter.
Seeking to Build a Better Proppant
Monday, July 27, 2015 Rigzone follows up with some of the winners of Statoil and GE's first Open Innovation Challenge to reduce the amount of sand proppant used in unconventional operations.
San Leon Energy Non-Executive Director Resigns
Monday, July 27, 2015 San Leon Energy's long-standing non-executive director Jeremy Boak resigns, after accepting a position as a director of the Oklahoma Geological Survey at The University of Oklahoma.
Sterling Sees Acquisition Opportunities amid Low Oil Price
Monday, July 27, 2015 Africa-focused Sterling Energy intends to take advantage of the low oil price by buying 'quality' exploration assets from distressed players in the oil and gas sector.
Goodrich Sells Chunk of Eagle Ford: Move Buying Time for Rebound
Monday, July 27, 2015 Goodrich Petroleum is selling key acreage in the Eagle Ford Shale to buy some liquidity and pay off some debt. But questions remain about whether it's enough to survive commodity prices.
Saudi Arabia's Sabic Considering Shale Gas Investments in US
Monday, July 27, 2015 Saudi Basic Industries Corp. plans to expand investment in US shale gas projects through joint ventures, according to acting CEO Yousef al Benyan.
Roxi Petroleum Agrees BNG Royalty Cancellation Deal
Friday, July 24, 2015 Roxi Petroleum enters into an agreement with Canamens Limited and Sector Spesit IV, a sub-fund of Sector Umbrella Trust, to cancel future royalty payments due to them from production at Roxi's BNG asset, located in Kazakhstan.

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