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Industry Headlines

OPEC Crude Export Revenue Drops 46%
Friday, August 26, 2016 Net oil export revenue to OPEC nations drops to levels not seen since 2004, driven down to bottoming at $404 billion in 2015, with downturn in price of crude oil.
Nigerian Traditional Rulers Want Prisoners Freed Before Delta Talks
Friday, August 26, 2016 Traditional leaders in Nigeria's oil-producing Niger Delta have demanded that authorities release youths arrested by the army before they will mediate in talks with militants.
VTTI Says Suspends Operations At Malaysia Terminal After Oil Spill
Friday, August 26, 2016 VTTI, the storage division of the world's largest oil trader Vitol, says it has suspended operations at its terminal in southern Malaysia after receiving a notice from the authorities following an oil spill.
Baker Hughes: US Oil Drilling Rig Count Steady After 8 Weeks Of Hikes
Friday, August 26, 2016 The number of US oil drilling rigs were unchanged this week after eight weeks of consecutive rises, according to a closely followed report.
Oil M&A Is Back As Industry Focus Shifts From Survival To Growth
Friday, August 26, 2016 Multibillion-dollar oil and gas deals are back on the table.
Report: Pay, Advancement Main Factors in Gen Z's Trust of Employers
Friday, August 26, 2016 A study by EY delves into the factors that influence Generation Z's trust in future employers.
Digital Tenacity Key to Implementing Technology in Oil, Gas Industry
Friday, August 26, 2016 Digital tenacity will be key to oil and gas companies successfully implementing digital technology into their operations.
Oil Steady In Volatile Session, Down 2% For The Week
Friday, August 26, 2016 Oil prices were largely unchanged in a volatile session.
BLOG: Job Seekers Want to Work in Asia
Friday, August 26, 2016 Job seekers would prefer to work in Asia, rather than the Americas, Europe or Africa, according to a Rigzone poll conducted on Twitter.

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Exploration

Sound Energy Spuds Second Tendrara Appraisal Well in Morocco
Friday, August 26, 2016 Mediterranean-focused upstream oil and gas company Sound Energy spuds the second appraisal well at Tendrara, onshore Morocco.
Thailand To Open Bids For Energy Concessions In March 2017
Thursday, August 25, 2016 Thailand's military government plans to open bids in March 2017 for expiring oil and gas contracts held by Chevron Corp and PTT Exploration and Production.
Oil, Gas Found in Chachahuen Block, Argentina
Thursday, August 25, 2016 Oil and gas discoveries have been made in the Chachahuen block in the Province of Mendoza, Argentina.
Mexico Energy Regulator Names Firms Qualified For Deepwater Tender
Thursday, August 25, 2016 Mexico's energy regulator says that 26 companies had qualified to participate in the country's deepwater oil tender in December, the jewel in the crown of a landmark energy sector opening.
EGME: Work Begins on 2D Seismic Survey in Wajir Kenya
Wednesday, August 24, 2016 Work commences on the 2D seismic survey of Block 2A in Wajir, Kenya.
SDX Energy 'Well Placed' to Drill South Disouq Well
Wednesday, August 24, 2016 SDX Energy Inc. is well placed to maximize the potential of its South Disouq asset in Egypt, says the company's president and CEO Paul Welch.

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Production

OPEC's Barkindo: Oil Producers Show Realisation Action Needed On Output
Friday, August 26, 2016 OPEC Secretary-General Mohammed Barkindo sees a growing understanding inside and outside the oil producers' group that action is needed to manage crude production.
VAALCO Energy Restarts Production from Avouma 2-H Well Offshore Gabon
Friday, August 26, 2016 VAALCO Energy, Inc. restarts production from the Avouma 2-H well on the Avouma Platform offshore Gabon.
China's Biggest Oil Company Aims For 50% Natural Gas By 2020
Friday, August 26, 2016 China's biggest oil company wants natural gas to account for half its output by the end of the decade.
Statoil Starts Production From Fram C East Well
Thursday, August 25, 2016 Production begins from the Fram C East production well offshore Norway.
OPEC Meeting Won't Result in Production Freeze, Cut
Thursday, August 25, 2016 OPEC's informal September meeting in Algeria won't result in a production freeze or a production cut, says global investment banking firm Jefferies.
Beach Energy Completes Callawonga-12 Well Drilling in Cooper Basin
Thursday, August 25, 2016 Beach Energy completes drilling of Callawonga-12 development well in South Australia's Cooper Basin, with the rig expected to drill 1 to 2 exploration wells in PRL 85-104 in October.

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Finance and Investing

Analysts: US E&P CAPEX Hits Bottom
Friday, August 26, 2016 Analysts say US E&P CAPEX has bottomed out, setting the stage for production growth as early as this year.
Kerogen Capital Raises $830M In Second Energy Fund
Friday, August 26, 2016 Private equity firm Kerogen Capital secures $830 million in its second energy fund, taking its total assets under management to over $2 billion since inception.
San Leon Raises Funds for OML 18 Interest Acquisition
Friday, August 26, 2016 San Leon Energy plc raises $221.4 million through an issue of 378,400,000 new ordinary shares, the net proceeds of which will be used to secure a 9.72% interest in OML 18.
Reach Energy Secures SCM's Approval to Buy Stake in Kazakh O&G Firm
Friday, August 26, 2016 Reach Energy secures Securities Commission Malaysia's (SCM) approval for its acquisition of a stake in Palaeontol B.V., which owns an onshore oil and gas block in Kazakhstan.
Filing Bankruptcy, Key Energy Expects to Remain Public Company
Thursday, August 25, 2016 Key Energy is the latest in a long line of oilfield service companies to file for a reorganization of its debts and assets, extending the bankruptcy streak that's burdened oil and gas for almost two years.
Russia's Gazprom Neft Q2 Net Profit At 48.9B Rbls
Thursday, August 25, 2016 Gazprom Neft, one of Russia's top oil producers, made a net profit of $752 million in Q2.
China Oil Giants Unmoved By Bull Rally After Worst Earnings
Thursday, August 25, 2016 After posting their worst-ever half-year results, two of China's oil giants aren't getting carried away by crude's return to a bull market, forecasting a rocky path ahead.

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Company Operations

No Impact From Brexit On Norwegian Gas Exports To Britain
Friday, August 26, 2016 Exports of Norwegian gas to Britain will not be affected by Britain's vote to leave the European Union, Norway's oil and energy minister told Reuters.
Site to Foster Innovation in Oil, Gas Technology Development
Friday, August 26, 2016 A new community seeks to foster innovation among oil and gas companies to advance software technology.
Njord A Platform Arrives at Kvaerner Stord for Renovation Works
Friday, August 26, 2016 The Njord A platform has now arrived at Kvaerner Stord, where it will be reinforced and renovated for production beyond 2030.
Source: Petrobras Voluntary Layoff Program Accepted By 6,100 Employees
Friday, August 26, 2016 A voluntary layoff program at state-run oil company Petrobras has been accepted by 6,100 employees, a source with direct knowledge of the matter told Reuters.
DSME Delivers Newbuild Ultra Deepwater Drillship to Transocean
Friday, August 26, 2016 South Korea's Daewoo Shipbuilding & Marine Engineering delivers an ultra deepwater drillship, possibly Deepwater Conqueror, to Transocean.
Pavilion Energy, Pertamina Ink MOU to Develop Small Scale LNG Solutions
Friday, August 26, 2016 Singapore's Pavilion Energy and Indonesia's Pertamina ink a memorandum of understanding to develop small scale liquefied natural gas (LNG) solutions in the region.
PBJV Bags Contract from PETRONAS Carigali for Work Off East Malaysia
Friday, August 26, 2016 Barakah Offshore's unit PBJV bags contract to provide underwater services for PETRONAS Carigali's oil and gas fields offshore East Malaysia.

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Policy

PDC Energy Stock Up 33% on Unlikely Niobrara/DJ Basin Proposal
Thursday, August 25, 2016 Shares in companies that operate in Colorado, such as PDC Energy and Anadarko Petroleum Corp., are benefiting from the expected failure of the setback initiative to make November ballot.
Iran's Oil Minister to Join OPEC Talks on Market in Algeria
Thursday, August 25, 2016 Iran's oil minister will join an informal meeting of OPEC members next month in Algiers, a state news service reported, ending uncertainty about whether OPEC's third-biggest producer would participate.
Canada May Ask Oil Firms to Pay Extra for Far-Offshore Drilling
Wednesday, August 24, 2016 Canada may ask oil companies to contribute to the hundreds of millions of dollars or more the country has to pay to an international body if they drill far offshore, according to an internal government memo.
Iraq's New Oil Minister Sticks By Demand to Review Foreign Contracts
Monday, August 22, 2016 Iraq wants to review contracts with oil companies to cut the fees that the firms receive when crude prices are low, the OPEC nation's new oil minister says, standing by a demand made by his predecessor.
Texas Railroad Commission Overhaul in the Works
Friday, August 19, 2016 Commissioner Christi Craddick and industry interest groups work on new initiatives before Texas Legislature convenes.
Indonesian Acting Energy Minister Says Abadi LNG Remains a Priority Project
Thursday, August 18, 2016 Indonesia's Acting Minister for Energy and Mineral Resources Luhut Panjaitan says the Abadi liquefied natural gas project in the offshore Masela block remains a priority project for the country.

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