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Friday, March 06, 2015 - The oil and gas industry is only halfway in its journey towards implementing and gaining value from digital oilfield technology.
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Industry Headlines

Statoil Delays Castberg, Snorre Projects To Cut Costs
Friday, March 06, 2015 Statoil postpones two of its biggest offshore developments as low oil prices spur cost cuts, it said.
BP And Partners To Invest $12B In Egypt Gas Deal
Friday, March 06, 2015 BP expects to invest around $12B with its partners as part of a finalized West Nile Delta concession deal to develop 5 trillion cubic feet of gas resources and 55 million barrels of condensates.
Oil And Gas Sector Tarnishes Strong US Jobs Report
Friday, March 06, 2015 The US oil and gas sector bleeds away more jobs last month as sustained low oil prices forced energy producers to reduce spending, suggesting that further pain may be ahead for the struggling industry.
Indonesia Considers Turning SKK Migas into State-Owned Enterprise
Friday, March 06, 2015 Indonesia considers turning the country's upstream oil and gas regulator SKK Migas into a state-owned enterprise.
Vietnam's PV Drilling Shelves Fleet Expansion, Waits on Market Recovery
Friday, March 06, 2015 PV Drilling is putting fleet expansion on hold as operating dayrates soften on lower offshore drilling activity.
Progress, Challenges Seen in Implementing Digital Oilfield Technology
Friday, March 06, 2015 The oil and gas industry is only halfway in its journey towards implementing and gaining value from digital oilfield technology.
Oil In Biggest Weekly Drop Since January On Dollar, Rate-Hike Fear
Friday, March 06, 2015 Crude oil prices close down, with benchmark Brent losing its most in a week since January.
It's Time to Remove the Prohibition to Export Crude Oil
Thursday, March 05, 2015 The law banning crude oil exports prevents crude oil producers in the US from participating in free trade of a commodity that is traded worldwide, Alex Mills says.

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Northern Petroleum Agrees Cascina Alberto Farm-Out with Shell
Thursday, March 05, 2015 Junior oil firm Northern Petroleum agrees to farm out 80 percent of its Cascina Alberto permit, onshore Italy, to Royal Dutch Shell.
WHL Energy Upbeat About Junon Resources Potential offshore Seychelles
Thursday, March 05, 2015 WHL Energy says seismic data indicates that Junon Central and Junon South East in Seychelles may hold prospective resources of around 200 million barrels.
Norwest to Conduct Seismic Survey at Arrowsmith in Perth Basin
Thursday, March 05, 2015 Norwest Energy gains approval to proceed with seismic survey at Arrowsmith in exploration permit EP 413 in the Perth Basin, Western Australia.
Linc Energy Resumes Drilling at Eba 1 Well in PEL 121 in South Australia
Thursday, March 05, 2015 Linc Energy resumes drilling at Eba 1 well in PEL 121 in the Arckaringa Basin in South Australia after delays caused by a leaking wash pipe.
Circle Abandons Shisr-1 Well Due to Drilling Difficulties
Wednesday, March 04, 2015 Circle Oil says it will plug and abandon its Shisr-1 well on Block 49, onshore Oman, due to drilling difficulties.
Beach Energy Finds Gas at Ragnal-1 and Oil at Martlet-1 Wells in Australia
Wednesday, March 04, 2015 Beach Energy discovers gas at Ralgnal-1 well in PRL 130 and oil at Martlet North-1 well in PRL 148 in Australia.

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Philippines' First Gen Seeks Partner for $1B LNG Import Terminal
Friday, March 06, 2015 The Philippines' First Gen Corp is talking with potential partners for its proposed $1 billion LNG import terminal, the head of the energy firm says.
Government: Bids on Peru's Biggest Oil Block to Start in April
Friday, March 06, 2015 Bidding on the rights to develop Peru's biggest oil block will begin next month, and a winner will likely be announced in August, state energy agency Perupetro says.
Comet Ridge Updates on Mahalo 7 Horizontal Well Project in Queensland
Friday, March 06, 2015 Comet Ridge updates on the Mahalo 7 horizontal surface to in-seam well project in Mahalo Block in Queensland's Bowen Basin, Australia.
Work on Pateke-4H Subsea Tie-back Project Underway at NZ?s Tui Oil Fields
Friday, March 06, 2015 AWE says work has begun on the Pateke-4H subsea tie-back and installation project at Tui Area oil fields offshore New Zealand.
Interra Spuds CHK 1197 Development Well in Myanmar?s Chauk Oil Field
Friday, March 06, 2015 Interra Resources commences drilling at CHK 1197 development well in Myanmar's Chauk oil field.
Thailand's PTT says Myanmar Gas Fields to Shut for Maintenance in April
Thursday, March 05, 2015 Thailand's PTT says three fields in Myanmar will be shut down for maintenance in April.

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Finance and Investing

Australia's Tap Oil Conducts Strategic Review of its Asset Portfolio
Friday, March 06, 2015 Australia's Tap Oil launches a review of its business and asset base in response to the recent change in market conditions in the oil and gas industry and to maximize value for all shareholders.
Woodside to Issue $1B in Corporate Bonds
Friday, February 27, 2015 Woodside to issue $1 billion in corporate bonds to help fund its capital and exploration expenditure program.
Icahn Posts Loss As Fund Hit In 2014 By Oil Plunge
Friday, February 27, 2015 Billionaire Carl Icahn's publicly traded investment fund posted a loss in 2014, undone by plummeting oil prices, the company says in a regulatory filing.
Oil Hedge Helps Oando Prepay Debt After ConocoPhillips' Deal
Tuesday, March 03, 2015 Oando has prepaid $238 million out of the $753 million it borrowed to part finance the acquisition of ConocoPhillips' Nigerian oil and gas business, the company says.
Vallianz Posts Net Record Profit of $20.4M in 2014, Lifted by OSV Segment
Wednesday, February 25, 2015 Vallianz Holdings' net profit rises to a record $20.4 million in 2014, almost twice the $10.3 million from a year ago, with the gains due mainly to contributions from its offshore support vessel chartering operations in the Middle East.
C. Bank Governor: Low Oil Prices To Hit Investment In Uganda's Oil Sector
Wednesday, February 25, 2015 The sharp drop in oil prices will likely slow down the flow of investment capital tied to Uganda's emerging hydrocarbons industry, and hurt economic growth, the country's central bank governor says.

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Company Operations

Nabors Industries Cuts Workforce by 12%
Friday, March 06, 2015 Nabors Industries reduces its workforce by 12% amid the downturn in the oil and gas industry and expects another tough quarter ahead.
Golar LNG, Rosneft Ink MOU to Cooperate on FLNG Projects in Latin America
Friday, March 06, 2015 Golar LNG and Rosneft ink a memorandum of understanding to cooperate on floating liquefaction and transportation of natural gas.
Baker Hughes: US Oil Rig Count Hits Lowest Since April 2011
Friday, March 06, 2015 The number of US drilling rigs in use fell sharply in the week, almost doubling the cuts of the past two weeks and hitting the lowest since April 2011, a survey shows.
Honeywell Bags Project Management, Engineering Deal for Te Giac Trang Field
Friday, March 06, 2015 Honeywell bags a project management and engineering contract from Hoang Long Joint Operating Co. for the TGT-H5 wellhead platform in the Te Giac Trang field offshore Vietnam.
Alam Maritim Bags Marine Vessels Contract from Petronas Carigali
Friday, March 06, 2015 Alam Maritim receives a two year contract from Petronas Carigali to provide spot charter marine vessels in Malaysia.
ACCC Clears Woodside's Acquisition of Apache's Stakes in LNG Projects
Thursday, March 05, 2015 Woodside edges closer to completing its $2.75 billion acquisition of Apache's interests in Australia's Wheatstone and Balvanes projects as well as the Kitimat project in Canada.
Cairn India Cuts FY 2016 Capex to $500M from $1.2B Due to Low Oil Price
Thursday, March 05, 2015 Cairn India reduces capital expenditure for fiscal year 2016 from $1.2 billion to $500 million in the current low oil price environment.
Canadian Natural Keeps 2015 Spin-Off Plan As 4Q Profit Jumps
Thursday, March 05, 2015 Canadian Natural Resources expects to spin off its Western Canada royalty lands this year as it reported unexpectedly strong 4Q results and boosted its dividend.

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