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Virginia Senators Seek to Expand Offshore Energy Leasing

Thursday, May 23, 2013 - Virginia Senators Mark Warner and Tim Kaine introduce legislation that would open up acreage offshore Virginia for energy leasing.
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Industry Headlines

Occidental CEO Discussed Potential Sale of Overseas Assets, Spinoff

Thursday, May 23, 2013 Occidental may consider selling its overseas assets or splitting into three separate companies in order to fund a stock buyback and improve its share price, Chief Executive Steve Chazen tells investors.

Brazil to Hold First Pre-Salt Oil Exploration Auction in October

Thursday, May 23, 2013 Brazil will hold its first auction of pre-salt oil exploration acreage under the country's new production-sharing regime in October, one month earlier than expected.

Marathon Oil: Talks to Sell Alberta Oil Sands Stake Fall Through

Thursday, May 23, 2013 Marathon Oil says discussions to sell its 20% outside-operated stake in the Athabasca Oil Sands Project in Alberta were unsuccessful and talks with a prospective buyer have been terminated.

Virginia Senators Seek to Expand Offshore Energy Leasing

Thursday, May 23, 2013 Virginia Senators Mark Warner and Tim Kaine introduce legislation that would open up acreage offshore Virginia for energy leasing.

Brazil's ANP: Libra Holds 8-12B Barrels of Recoverable Oil

Thursday, May 23, 2013 Brazil will sell a prospect estimated to hold between 8 to 12 billion barrels of recoverable crude oil at its first-ever pre-salt auction in October, ANP says.

Crude-Oil Futures Settle 3 Cents Lower at $94.25/Barrel

Thursday, May 23, 2013 Crude-oil futures prices slash early losses and rebound with equities prices to settle just three cents lower at $94.25 a barrel.

Exploration

Rig Secured for Malta Area 4 Drill

Thursday, May 23, 2013 Mediterranean Oil & Gas says its partner in Malta Area 4, Genel, has secured the Paul Romano rig to drill an exploration well later this year.

Lundin's Carlsberg Well Comes up Dry

Thursday, May 23, 2013 Lundin Petroleum reports that well 7/4-3 on the Carlsberg prospect in the Norwegian North Sea found no hydrocarbons.

Salamander 'Frustrated' with Bedug Discovery

Thursday, May 23, 2013 Salamander announces that the Bedug-1 exploration well in the Bontang PSC has been concluded as a gas discovery.

Nighthawk Makes Oil Find in Colorado

Thursday, May 23, 2013 Nighthawk announces an update on drilling at its 100-percent controlled and operated Smoky Hill project in the Denver-Julesburg Basin, Colorado.

Blacksteel Energy Enters Farm-In at Buck Lake

Thursday, May 23, 2013 Blacksteel Energy enters a farm-in agreement with an industry partner to participate in the drilling of horizontal wells in the Cardium oil formation in the Buck Lake area of Alberta.

Laredo, EnerVest Agree to Anadarko Basin Transaction

Wednesday, May 22, 2013 Laredo sells assets to raise capital for drilling activities in the Permian basin.

HRT Expects to Start Drilling Second Namibia Well in Two Weeks

Wednesday, May 22, 2013 HRT expects to start drilling on its second well offshore Namibia in two weeks, Chief Executive Milton Franke says.

Natural Gas Flows at Noble's Karish Discovery Offshore Israel

Wednesday, May 22, 2013 Noble Energy finds 1.8 Tcf of gross mean reserves of natural gas near the Tamar field.

Wingat-1 Well Disappoints

Tuesday, May 21, 2013 Galp Energia reports that Wingat-1 exploration well, offshore Namibia, has failed to find commercial oil.

Production

Bridge Energy Production on Track

Thursday, May 23, 2013 Bridge Energy reports that production for the first quarter was in line with expectations at 1,110 barrels of oil equivalent per day.

Gazprom Issues New Tender for Badra Oil Wells

Thursday, May 23, 2013 Gazprom Neft issues a new tender to drill six oil wells at the Badra oil field in eastern Iraq.

Technip Scores Flare Modification Contract Offshore UAE

Thursday, May 23, 2013 Technip was awarded by ADMA-OPCO a lump-sum turnkey contract for the revamp project on Das Island offshore UAE.

WGPSN Awarded Hess Gig in GOM

Thursday, May 23, 2013 Wood Group PSN will deliver operations & maintenance services to Hess' Baldpate production platform in the deepwater Gulf of Mexico, under a new five-year contract.

Osaka Gas Buys PNG Gas Fields

Thursday, May 23, 2013 Osaka Gas buys stakes in natural gas assets in Papua New Guinea from Horizon Oil.

FMC Technologies Snags Subsea Work for Shell's Stone Field

Thursday, May 23, 2013 FMC Technologies receives an order from Shell for the supply of subsea equipment to support the Stones field development.

Det norske Starts Production at Jette

Tuesday, May 21, 2013 Det norske oljeselskap reports its first production as an operator after the start up of its Jette field in the North Sea.

Pan Orient Notes Production Testing Progress at L53 Appraisal

Tuesday, May 21, 2013 Pan Orient Energy Corp. announced that the L53-DC3 appraisal well is currently on a 90 day production test producing 15 degree API oil.

Talisman Brings HST, HSD Development Online

Monday, May 20, 2013 Eighteen months after receiving project sanction, Talisman Energy brings the HST, HSD project online.

Finance and Investing

PdVSA to Receive $1.5B Loan from Rosneft for Oil Joint Venture

Thursday, May 23, 2013 PdVSA and Rosneft signs deals to boost production at a new joint venture in the South American country's vast Orinoco heavy oil belt.

CFO: Petrobras May Sell Euro-Denominated Bonds in 2013

Wednesday, May 22, 2013 Petrobras could sell a euro-denominated bond in 2013 as part of efforts to raise an additional $9B from capital markets this year, Chief Financial Officer Almir Barbassa says.

Warren Resources Increases 2013 Capex

Monday, May 20, 2013 Warren Resources, Inc. announces it is increasing its 2013 capital expenditure budget to $73 million.

Moller-Maersk Net Profit Falls, Demand to Stay Subdued

Friday, May 17, 2013 Moller-Maersk posts a smaller-than-expected drop in first-quarter net profit, supported by increased freight rates and efficiency measures at its main shipping unit.

Apache Shareholders Don't Approve Executive Compensation

Thursday, May 16, 2013 Apache shareholders didn't approve the energy company's executive compensation plan for 2012 at its annual meeting, making their displeasure with the company's performance known.

Petrobras Launches Sale of Bonds to Raise $11 Billion

Monday, May 13, 2013 Petrobras begins its enormous 2013 financing campaign with one of the largest bond issues this year.

Company Operations

SBM on Track for $4B Turnover in 2013

Thursday, May 23, 2013 SBM Offshore expects to increase its revenue for 2013 by 8 percent to $4 billion.

Technip Wins Canada LNG Project

Wednesday, May 22, 2013 Technip is part of a consortium that has been awarded a contract for an LNG project in British Columbia.

Tangiers Executes Farm-Out Agreement

Wednesday, May 22, 2013 Tangiers Petroleum executes a farm-out agreement for two Australian exploration permits located in the Bonaparte Basin.

Delta SubSea, FMC Schilling Robotics Pen Framework Agreement

Wednesday, May 22, 2013 Delta SubSea enters a multi-year framework agreement with FMC Schilling Robotics.

Fabricom Moves to Bigger Aberdeen Office

Wednesday, May 22, 2013 Fabricom Offshore Services expands its team and moves to bigger offices in Aberdeen after less than a year in the city.

Colorado, Indonesia Schools Win Schlumberger Scholarships

Tuesday, May 21, 2013 Schlumberger announces its contribution of five scholarships to the American Association of Petroleum Geologists' (AAPG) Outstanding Student Chapter Awards.