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Industry Headlines

World's Top 3 Shipbuilders Post Record Loss on Deep-Sea Failures
Wednesday, July 29, 2015 The world's three biggest shipbuilders posted a combined $4.1B in operating losses in the second quarter, paying the price for a failed foray into deep-sea oil rigs.
Hess Has Second-Quarter Loss as Bakken Helps Lift Oil Output
Wednesday, July 29, 2015 Hess reports its second consecutive quarterly loss as higher oil output fails to compensate for lower prices.
Mexico To Postpone Deep Water Auction, Adjust Next Oil Tender Terms
Wednesday, July 29, 2015 Mexico will postpone auctions for deepwater oil exploration and production contracts and adjust the terms of upcoming tenders.
Texas Counties among the Best and Worst for Oil, Gas Jobs in 2014
Wednesday, July 29, 2015 Midland County created the most oil and gas jobs in 2014, while Harris County had the most job losses in 2014, a report finds.
UK Oil, Gas Industry Companies More Optimistic in 2Q
Wednesday, July 29, 2015 Companies in the UK oil and gas industry are becoming more optimistic about the sector, according to Oil & Gas UK's latest Business Sentiment Index.
How Pipelines Saved America's Biggest Oil Basin From Shale Bust
Wednesday, July 29, 2015 To understand why US oil production is so resilient, it helps to consider the maze of pipelines running out of Midland, Texas.
Oil Rises From Near 6-Month Lows After Big US Stock Drawdown
Wednesday, July 29, 2015 Oil settles higher, recovering from multi-month lows, after US government data shows a surprisingly large crude stockpile draw.

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Exploration

Marathon, OMV Hand Back Croatia Oil Exploration Licences
Wednesday, July 29, 2015 Marathon Oil and OMV return seven offshore oil and gas licenses to Croatia.
Pantheon Resources: VOBM#1 Spuds, 2 Well Drilling Program Starts
Tuesday, July 28, 2015 Pantheon Resources announces the spud of the VOBM#1 well, onshore East Texas, and the commencement of a 2 well drilling program.
Pura Vida: MZ-1 Well Secondary Objectives Come Up Dry, Drilling Continues
Tuesday, July 28, 2015 Pura Vida Energy NL announces that the secondary objectives of the MZ-1 exploration well offshore Morocco have come up dry.
Dolphin Begins East Campeche Seismic Survey Offshore Mexico
Tuesday, July 28, 2015 Seismic survey specialist Dolphin Geophysical begins the East Campeche 2D long-offset multi-client survey offshore Mexico.
Vermilion Energy Enters Farm-in Agreement in Germany
Tuesday, July 28, 2015 Vermilion Energy enters into a farm-in agreement with Mobil Erdgas-Erdol and BEB Erdgas und Erdol.
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.

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Production

Tullow: Ghana TEN Project 65% Complete, On-Track for First Oil Mid-2016
Wednesday, July 29, 2015 Tullow Oil announces that the TEN project in Ghana is approximately 65% complete and confirms that the field remains on schedule, and on budget, for first oil in mid-2016.
Lekoil: First Oil from Otakikpo Delayed to 3Q 2015
Wednesday, July 29, 2015 Lekoil announces that plans to produce first oil from the Otakikpo field, offshore Nigeria, have been delayed due to safety reasons.
Husky Says Indonesia's Madura Strait Projects to Start Production in 2017
Wednesday, July 29, 2015 Husky Energy says first production from the Madura Strait gas projects offshore Indonesia is targeted for 2017.
Australia's Beach Energy Reduces Production Volume, Capex for FY16
Wednesday, July 29, 2015 Australia's Beach Energy reduces production volumes and capital expenditure in its latest guidance for financial year 2016.
NOPTA Grants OBL 2 Year Extension for Permit Vic/P47 in Gippsland Basin
Wednesday, July 29, 2015 Oil Basins Limited gets a two year extension from the National Offshore Petroleum Titles Administrator for Permit Vic/P47 in the Gippsland Basin, offshore 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.

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Finance and Investing

Kazakh Wealth Fund to Sell 10% in State Oil Firm KMG to Central Bank
Wednesday, July 29, 2015 Kazakhstan's sovereign wealth fund will see 10 percent of its shares in state oil firm KazMunaiGas to the country's central bank.
Samsung Heavy Reports Quarterly Operating Loss of $1.3B
Wednesday, July 29, 2015 Samsung Heavy Industries Co., South Korea?s third-largest shipbuilder, reports an operating loss of $1.3 billion in the second quarter, far worse than analysts were expecting.
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.

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Company Operations

Total Sells West of Shetland Assets after Robust 2Q Performance
Wednesday, July 29, 2015 French oil major Total is to sell minority interests in a handful of West of Shetland fields after producing a robust performance during the second quarter of 2015.
Senex Energy Appoints New Chief Financial Officer
Wednesday, July 29, 2015 Senex Energy Limited will appoint Graham Yerbury as its chief financial officer, effective October 2015.
Billionaire Ambani Said to Weigh Sale of US Shale Holdings
Wednesday, July 29, 2015 Indian billionaire Mukesh Ambani's Reliance Industries is weighing a sale of its US shale gas investments, people with knowledge of the matter said.
Subsea 7 to Cut Costs by $550 Million, Increases Vessel Reduction Plan
Wednesday, July 29, 2015 Subsea 7 will cut costs by approximately $550 million by early 2016, confirming plans to axe employees and vessels first announced in May this year.
Malaysia's MHB Posts $14.2M Net Profit in 1H 2015 on Revenue of $341.9M
Wednesday, July 29, 2015 Malaysia's MHB posts net profit of $14.2 million for first half 2015 on a revenue of $341.9 million amid a challenging business environment in the offshore sector.
Petsec Energy Opens Dubai Office to Support MENA Operations
Wednesday, July 29, 2015 Petsec Energy opens office in Dubai, United Arab Emirates to support its operations in the Middle East and North Africa.
Alam Maritim Clinches Repair, Maintenance Contract from PETRONAS Carigali
Wednesday, July 29, 2015 Alam Maritm clinches a contract from PETRONAS Carigali to provide repair and maintenance work over a two year period.

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