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Wednesday, July 23, 2014 - HM Treasury announces a consultation on a new "cluster area allowance" to encourage investment in ultra-high pressure, high temperature oil and gas fields.
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Industry Headlines

EU Says Could Halt Technology for Russia to Develop Arctic Oil, Gas
Wednesday, July 23, 2014 EU should not give Russia technical help to develop Arctic oil and gas if Moscow does not help defuse the Ukraine crisis, says EU Energy Commissioner Guenther Oettinger.
Ukraine Says EU Reverse Gas Flows Lower after Gazprom's 'Threats'
Wednesday, July 23, 2014 Ukraine energy minister says reverse gas flows from the European Union to Ukraine fall because of the threats by Russian gas producer Gazprom.
Lewis: Mexican Shale Will Lure Investment Despite Higher Costs
Wednesday, July 23, 2014 Mexico's vast shale oil and gas potential will attract private investment despite significantly higher operating costs, a top executive with a leading US shale producer says.
UK Proposes New Tax Allowance for Ultra HP/HT Fields
Wednesday, July 23, 2014 HM Treasury announces a consultation on a new "cluster area allowance" to encourage investment in ultra-high pressure, high temperature oil and gas fields.
US Proposes New Rules For Moving Crude Oil By Rail
Wednesday, July 23, 2014 The US Department of Transportation proposes an overhaul of safety standards for transporting crude oil and ethanol by rail.
North Sea Super Puma Crash: Lessons Learned
Wednesday, July 23, 2014 Eleven months on from the Super Puma crash in the North Sea that killed 4 offshore workers, steps have been taken that should save lives in the event of a future helicopter ditching.
Oil Companies Begin Bidding For Blocks In Colombia Auction
Wednesday, July 23, 2014 Colombia begins block auction in an effort to raise output from around 1 million barrels per day and increase stagnant reserves.
Crude Oil Rises On Drop In US Crude Inventories, Geopolitical Risk
Wednesday, July 23, 2014 Crude oil futures rise as oil stockpiles in the US fall more than expected and geopolitical tensions in Eastern Europe and the Middle East persist.

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Exploration

OMV Spuds Whio-1 Exploration Well in PEP 51313 Offshore Taranaki
Thursday, July 24, 2014 OMV spuds Whio-1 exploration well in permit PEP 51313 in the Taranaki Basin off New Zealand.
Baraka Resolves Dispute Over 2 Exploration Permits in Georgina Basin in NT
Thursday, July 24, 2014 Baraka Energy & Resources resolves dispute with partners over two exploration permits in Georgina Basin, Northern Territory, Australia.
Metgasco Updates on Legal Action to Lift Suspension of Rosella-1 Drilling
Thursday, July 24, 2014 Metgasco updates on its Supreme Court action to lift the state government' suspension of its approval to drill the Rosella exploration well in PEL 16 in northern New South Wales, Australia.
Centrica Comes Up Dry near Ula Field
Wednesday, July 23, 2014 Centrica Resources Norge drills a dry well near the Ula field on Norwegian production license 405.
Rawson to Undertake Seismic Reprocessing Program for its Otway Basin Assets
Wednesday, July 23, 2014 Rawson Resources plans to undertake a seismic reprocessing program to better evaluate the unconventional potential of its exploration assets in Otway Basin, South Australia.
PetroFrontier Updates on Exploration Activities in Northern Territory
Wednesday, July 23, 2014 PetroFrontier updates on exploration activities under the 2014 work program and budget in Northern Territory, Australia.
Searcher Seismic Commences 2D Seismic Acquisition at West Luzon Basin
Wednesday, July 23, 2014 Searcher Seismic commences 2D seismic acquisition at West Luzon Basin, offshore Philippines.
Puka-3 Well Spuds Onshore New Zealand
Tuesday, July 22, 2014 Kea Petroleum reports that the drilling of the Puka-3 well in the onshore area of the Taranaki Basin, New Zealand, has started.
Leni Finds More Oil with 4th Goudron Development Well
Tuesday, July 22, 2014 Leni Gas & Oil finds 187 feet of net oil pay with its fourth development well on the Goudron field.

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Production

OPSB Secures Financing to Develop the Ophir Oil Project Offshore Terengganu
Thursday, July 24, 2014 Octanex annouces that the joint venture developing the Ophir field offshore Terengganu, Malaysia has secured financing for the project.
Ruspetro Conducts Successful Flow Test on Russian Well
Wednesday, July 23, 2014 Ruspetro successfully carries out a 10-day flow test on its first multi-stage fractured horizontal well in the Pottymsko-Inginsky license area of Russia.
First Oil Commences at Bentara Field Offshore Sarawak
Wednesday, July 23, 2014 Petronas announces first oil commences at the Bentara field offshore Sarawak, Malaysia.
Beach Energy Spuds Elliston-2 Oil Development Well in Cooper Basin
Wednesday, July 23, 2014 Beach Energy spuds Elliston-2 oil development well in PPL 249 in Cooper Basin, South Australia.
Cosco Reveals Buying Interest for Octabuoy Hull and Topside Module
Wednesday, July 23, 2014 Cosco Nantong receives bids for the Octabuoy hull and topside module that it had built for ATP Oil & Gas.
CNOOC Commences Trial Production at LS36-1 Gas Field Offshore China
Wednesday, July 23, 2014 CNOOC commences trial production at LS36-1 gas field offshore Zhejiang province, China.
Oilex Commences Flow-back of Frac Fluids at Cambay-77H Well in Gujarat
Tuesday, July 22, 2014 Oilex commences flow-back of frac fluids at Cambay-77H well in Cambay Production Sharing Contract in Gujarat, India prior to production testing.

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Finance and Investing

Sources: Reach Energy Locks in Cornerstones for IPO
Thursday, July 24, 2014 Malaysia's Reach Energy, a special purpose acquisition company with no existing assets, locked in up to seven cornerstones for its $236.93 million IPO, two sources involved with the deal say.
Schlumberger Second-Quarter Profit Falls 24%
Thursday, July 17, 2014 Schlumberger, the world's largest oilfield services company, reports a nearly 24% fall in quarterly profit.
Far East Energy Corp.'s Bridge Facility with SCB Extended for 2 Months
Monday, July 14, 2014 Far East Energy Corp., operator of the Shouyang coalbed methane production sharing contract in China's Shanxi province, receives a further extension of the maturity date of an existing bridge facility with Standard Chartered Bank.
Triyards' 9-Month Net Profit Increases 1% to $21.4M
Friday, July 11, 2014 Triyards Holdings posts a net profit of $21.4 million for the 9 months ending May 31, a marginal 1 percent rise from a year ago.
WestSide Recommends Shareholders Accept Landbridge's Takeover Offer
Friday, July 04, 2014 Australia's WestSide recommends that company's shareholders accept Landbridge's takeover offer.
South Sudan To Borrow About $1B From Oil Firms In 2014/15
Wednesday, July 02, 2014 South Sudan plans to borrow from oil companies during the coming financial year to help cover repayments on domestic loans and previous oil advances.
Noble Energy Acquires Deepwater GOM Acreage
Monday, June 16, 2014 Noble Energy reaches an agreement with BP Exploration & Production Inc. to acquire interest in 17 deepwater exploration leases in the Gulf of Mexico.

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Company Operations

Nakilat-Keppel O&M Bags $110M Contracts from Gulf Drilling International
Thursday, July 24, 2014 Gulf Drilling International awards $110 million contracts to Nakilat-Keppel Offshore & Marine to build a liftboat and to repair and maintain its fleet of jackups.
Cosco Nantong Delivers Jackup Kai Xuan Yi Hao to Asian Buyer
Thursday, July 24, 2014 Cosco Nantong delivers newbuild jackup Kai Xuan Yi Hao to its Asian buyer.
Ezion Sells Two Australian Subsidiaries to AusGroup for $44M
Thursday, July 24, 2014 Ezion Holdings inks agreement to sell its two Australian subsidiaries to AusGroup for $44 million.
Unipetrol Sees Positive Impact from Acquisition of Rafinerska Stake
Wednesday, July 23, 2014 Czech oil processing firm Unipetrol expects a $20-million positive impact from the pending acquisition of a 32-percent stake in Ceska Rafinerska by ENI.
Semco, PV Shipyard Set Up Vung Tau Rig Services to Serve Southeast Asia
Wednesday, July 23, 2014 Semco Maritime and PetroVietnam Marine Shipyard establish Vung Tau Rig Services to repair, refurbish and upgrade rigs in Southeast Asia.
Kongsberg Bags $53M Contracts from Chinese, South Korean Shipbuilders
Wednesday, July 23, 2014 Kongsberg Maritime bags $53.3 million contracts from Chinese and South Korean shipyards for 13 advanced newbuild offshore vessels.
Talisman Says Approached By Spain's Repsol About Deal
Wednesday, July 23, 2014 Talisman says it has been approached by Repsol, a day after a report that the Spanish oil producer was considering a bid for Canada's No. 5 oil company.
Swissco's Shareholders Approve Firm's Acquistion of Scott and English
Tuesday, July 22, 2014 Swissco's shareholders approve the company's $225 million acquisition of Scott and English Energy at an extraordinary general meeting.
Technics Wins $14M Gas Compressor, Plant Maintenance Deal in Indonesia
Tuesday, July 22, 2014 Technics Oil and Gas wins a $13.84 million contract for lease and maintenance of gas compressor equipment as well as plant maintenance in Indonesia.

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