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Friday, August 29, 2014 - Doubts about the sustainability of the North American oil and gas boom center on rapidly declining output from many shale wells after they are initially drilled.
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Industry Headlines

Samsung Heavy Industries to Merge with Samsung Engineering
Monday, September 01, 2014 Samsung Heavy Industries will merge with Samsung Engineering Co. to establish a total solution provider for shipbuilding and onshore and offshore services.
Drilling Furiously: Chinese Energy Giants Turn Upbeat On Shale Gas
Friday, August 29, 2014 Sinopec and PetroChina have upgraded their outlook on China's shale gas industry, citing steadily declining costs, but stopped short of predicting a near-term boom.
EIA: Tight Oil Stabilizes Brent Crude Prices
Friday, August 29, 2014 Production from US shale formations is making oil imports from OPEC countries less important.
PacWest: Considerable Growth Expected for US Shale Formations
Friday, August 29, 2014 Shale plays in the US are expected to show significant growth between 2014 and 2016, PacWest says.
Germany's Energy Transition Dream at Risk of Becoming Nightmare
Wednesday, August 27, 2014 Germany's "Energiewende" (or Energy Transition) dream of pursuing an economy powered by renewables is in danger of turning into a nightmare, says Wintershall exploration and production director.
Uganda Ups Oil Reserves Estimate By 85%, Finds Natural Gas
Friday, August 29, 2014 Uganda revises its oil reserves by 85% to 6.5 billion barrels after an appraisal that also showed commercial deposits of natural gas, officials say.
Kemp: Why The Shale Revolution Is Not About To End
Friday, August 29, 2014 Doubts about the sustainability of the North American oil and gas boom center on rapidly declining output from many shale wells after they are initially drilled.
Oil Higher On Ukraine Tensions, Data, But Posts Second Monthly Fall
Friday, August 29, 2014 Crude oil prices post their second straight monthly loss, despite rising on worries that the intensifying Ukraine crisis may trigger more sanctions.

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Exploration

Santos Acquires 25% Stake in Sabah's Deepwater Block S from Inpex
Monday, September 01, 2014 Inpex agrees to transfer 25 percent interest in deepwater Block S offshore Sabah, Malaysia to Santos.
Ensign's Rig 916 Prepares to Drill Tamarama-1 Well in Cooper Basin
Monday, September 01, 2014 Real Energy reports that Ensign's Rig 916 is preparing to drill Tamarama-1 well in ATP927P in Cooper Basin, Queensland, Australia.
SapuraKencana Discovers Gas at Bakong-1 Well in SK408 Offshore Sarawak
Monday, September 01, 2014 SapuraKencana Energy discovers gas at Bakong-1 well in SK408 production sharing contract offshore Sarawak, Malaysia.
Ruspetro Plans a Second Horizontal Well This Year
Friday, August 29, 2014 Ruspetro says it is planning to spud and drill another horizontal well from Pad 23b by the end of the year.
Lundin Petroleum's Luno II Oil Discovery off Norway Disappoints
Friday, August 29, 2014 Lundin Petrolum's Luni II oil and gas discovery offshore Norway is smaller than expected, with analysts saying it may be too small to support a standalone development.
Sources: Saudi Aramco Seeks Interest For Work On Unconventional Gas
Friday, August 29, 2014 Four companies have expressed interest in bidding for work on unconventional gas in Saudi Arabia as the world's top oil exporter pushes ahead with plans to develop challenging shale deposits, sources say.
FT: Shell Submits Revised Drill Plan for Arctic
Friday, August 29, 2014 Shell has sought permission from the U.S. government to drill in the Arctic Ocean and is keeping open the possibility that it could drill there next summer, the Financial Times reports.
Africa Oil Corp. Updates on Drilling at its Kenya and Ethiopia Blocks
Friday, August 29, 2014 Africa Oil Corp. provides an updates on drilling operations at its blocks in Kenya and Ethiopia.
Noble Strikes Additional Pay at Katmai in GOM
Thursday, August 28, 2014 Wireline logging data indicates a total of 154 net feet of crude oil pay in multiple reservoirs at the Katmai exploration well.

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Production

KOGAS Says Starts Commercial Crude Oil Production in Iraq's Badra
Monday, September 01, 2014 Korea Gas Corp starts commercial crude production in Iraq's Badra oilfield as planned, the state-run South Korean company says.
ONGC to Invest $863M on Daman Development Project in Arabian Sea
Monday, September 01, 2014 Oil and Natural Gas Corporation will invest $863.2 million on the Daman Development project to boost gas and condensate production at Tapti Daman block in the Arabian Sea.
Afren Shares Drop after Kurdistan Shutdown Prompts Production Forecast Cut
Friday, August 29, 2014 Independent explorer Afren slashes its full-year production forecast by 20 percent following shutdown of its Kurdistan operations.
Russia's Lukoil Says 1H Hydrocarbon Production up 3.2% Year-on-Year
Friday, August 29, 2014 Russia's Lukoil says hydrocarbon production during its first half improved by 3.2 percent year-on-year.
Laggan-Tormore Gas Field Stakeholder Expects Delay To Start Date
Thursday, August 28, 2014 The UK's Laggan-Tormore gas condensate fields in the North Sea will start production next year.
Kurdistan's Taza 2 Well Drilling Remains Suspended on Security Concerns
Thursday, August 28, 2014 Oil Search reports that drilling at Taza 2 appraisal well in Kurdistan, Iraq remains suspended due to security situation in the region.
High Gas-Flow Tests Boost BG's Tanzania LNG Plans
Wednesday, August 27, 2014 BG Group says encouraging results from its latest test drill offshore Tanzania increases chances to develop an onshore LNG project in the country.
Brent Falls, US Crude Rises As Global Demand Seen Weak
Thursday, August 28, 2014 Brent crude oil falls and US crude rises as ample global supply and lackluster demand pressure the global benchmark.

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Finance and Investing

Sino G&E Secures $50M Debt Facility for its Ordos Basin Gas Projects
Monday, September 01, 2014 Sino Gas & Energy secures $50 million debt facility from Macquarie Bank to fund its Ordos Basin gas projects in China's Shanxi province.
Sources: Sinopec Planning $1.5B Hong Kong IPO of Oilfield Services Unit
Friday, August 22, 2014 Sinopec is planning a $1.5 billion Hong Kong initial public offering for its oilfield services unit in the first half of 2015, people familiar with the matter said.
Santos' Underlying 1H 2014 Net Profit Up 3% YOY to $240M
Friday, August 22, 2014 Santos posts an underlying first half profit of $240.3 million, 3 percent more than last year, with the gains due to an earlier start-up of the PNG LNG project.
Dolphin Sees Possible Start of Dividend after 3Q Report
Wednesday, August 20, 2014 Seismic survey vessel operator Dolphin may soon start paying dividends after an improvement in its earnings.
Gulf's Topaz Energy Gets $75M Investment from Standard Chartered PE
Wednesday, August 20, 2014 Oman's Renaissance Services says its unit Topaz Energy and Marine had secured a $75 million investment from Standard Chartered Private Equity.
Reach Energy Whets Investor Appetite for Malaysian SPACs
Friday, August 15, 2014 Reach Energy, set up by veterans in Malaysia's oil and gas industry, made its market debut in Kuala Lumpur after completing the country's largest-ever initial public offering by a special purpose acquisition company (SPAC.)
Triple Energy Inks MoU for BSP to Invest $6M in Firm's CSG Project in China
Thursday, August 14, 2014 Triple Energy inks memorandum of understanding with Blue Sky Power for the latter to invest up to $6 million in the firm and its coal seam gas project in China.

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Company Operations

ERM Power to Sell West Australian Gas Assets to Empire O&G for $15M
Monday, September 01, 2014 ERM Power agrees to dispose of its Western Australian gas assets to Empire Oil & Gas for $15.26 million.
Jasper Fails to Take Delivery of Jasper Cosmopolitan from Yulian Shipyard
Monday, September 01, 2014 Jasper Investments fails to raise sufficient funds to take delivery of Jasper Cosmopolitan accommodation semisub from China's Yulian Shipyard.
Blue Water Energy, Blackstone and GIC Invest $500M in Siccar Point Energy
Monday, September 01, 2014 Blue Water Energy, Blackstone Energy Partners and Singapore's sovereign fund GIC invest $500 million in new North Sea-focused exploration and production company Siccar Point Energy.
Enegi Mulls Newfoundland Divestment, Increased Stake in ABT
Friday, August 29, 2014 Enegi Oil is considering divesting itself of its assets in western Newfoundland, while upping its stake in ABT Oil & Gas, but the FDP for the Fyne field will not be submitted on time.
Falcon Oil & Gas Provides 1H 2014 Interim Results
Friday, August 29, 2014 Falcon Oil & Gas provides the company's interim results for the first half of 2014, including an update on its operations in Australia's Beetaloo permits.
Kongsberg Bags Contract from BW Offshore for Catcher FPSO
Friday, August 29, 2014 Kongsberg Maritime Engineering bags contract from BW Offshore for Catcher floating production, storage and offloading vessel.
CNOOC Posts 6.8% Rise in Net Production in 1H 2014 to 211.6 MMboe
Friday, August 29, 2014 CNOOC posts a 6.8% increase in net production to 211.6 million barrels of oil equivalent in the first half of this year, compared to 198.1 MMboe a year ago.
Drillsearch Energy Ups Stake in Ambassador Oil & Gas to 84.2%
Friday, August 29, 2014 Drillsearch Energy raises stake in Ambassador Oil & Gas to 84.2 percent, with two of its nominees appointed directors of the latter.
Italy Aims To Complete Eni, Enel Stake Sales By December
Thursday, August 28, 2014 Italy's government says it is on course to sell stakes in energy groups Enel and Eni by the end of the year.

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