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Wednesday, July 30, 2014 - Wood Mackenzie estimates that capital spending in the Wolfcamp tight oil play will exceed $12 billion this year.
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Industry Headlines

Tamarind, Blackstone Form $800M Venture for Upstream Projects in SE Asia
Thursday, July 31, 2014 Newly established Tamarind Energy, in partnership with Blackstone Energy, will focus on growing production and reserves from producing oil and gas fields in Southeast Asia.
IWCF Launches Online Well Life Cycle Course
Wednesday, July 30, 2014 The International Well Control Forum is urging the oil and gas industry to improve sector workers' basic knowledge of well control as it launches an online course.
Hess To Form MLP For North Dakota Oil, Gas Transport Assets
Wednesday, July 30, 2014 Hess says it will form an MLP for its North Dakota oil and natural gas storage facilities and processing plants, taking advantage of a key financial trend in the energy sector to generate cash.
Total Stops Buying Novatek Shares After MH17 Shot Down
Wednesday, July 30, 2014 France's Total stops buying shares in Novatek, but says it is still too early to gauge the impact of western sanctions against Russia.
Wolfcamp CAPEX Spending to Exceed $12B in 2014
Wednesday, July 30, 2014 Wood Mackenzie estimates that capital spending in the Wolfcamp tight oil play will exceed $12 billion this year.
Russia's Rosneft, North Atlantic Drilling In $4.25B Drilling Deal
Wednesday, July 30, 2014 Rosneft and North Atlantic Drilling enter a drilling agreement worth up to $4.25B, in line with a previous agreement and despite Western sanctions over Moscow's role in Ukraine.
Oil Prices Tumble On Ample Supply, Weak Demand
Wednesday, July 30, 2014 Oil prices tumble, with Brent leading the decline weakened by excess supplies in Europe and Asia.
Survey: Energy Companies to Add 2000 Workers in the Marcellus Shale
Tuesday, July 29, 2014 The Marcellus Shale is providing workers in Pennsylvania and surrounding states with a variety of job opportunities, according to a new workforce survey.

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BGP Completes 3D Seismic Acquisition Offshore Gabon for Perenco
Thursday, July 31, 2014 BGP completes 3D seismic acquisition offshore Gabon for Perenco Oil & Gas Gabon.
Santos to Proceed with SAJV's Stage 2 Plan in Northern Territory
Thursday, July 31, 2014 Santos to proceed with Southern Amadeus Joint Venture's Stage 2 plan in Amadeus Basin in Australia's Northern Territory.
Titan Energy Updates on Drilling at Drover-1 Well in EP455 in Perth Basin
Thursday, July 31, 2014 Titan Energy provides an update on drilling at Drover-1 well in exploration permit EP455 in the Perth Basin, Western Australia.
Beach Finds Non-Commercial Oil at PEL 249's Elliston-2 Well in Cooper Basin
Wednesday, July 30, 2014 Beach Energy plugs and abandons Elliston-2 well in PPL 249 in Cooper Basin, South Australia as it was deemed non-commercial to complete as an oil producer.
Icon to Commence Hydraulic Stimulation at Queensland's ATP 855 in September
Wednesday, July 30, 2014 Icon Energy announces that hydraulic stimulation and testing program for ATP 855 in Queensland, Australia will commence in early September.
Tellus Gets Report on Prospective Oil Resources in Madagascar's Block 3114
Wednesday, July 30, 2014 Tellus Resources receives report from MHA Petroleum Consultants on the prospective oil resources in Block 3114, Madagascar.
Cyprus Offshore Gas Drilling To Start Before Fall
Wednesday, July 30, 2014 Cyprus' energy minister says that exploratory drilling in the first of six potential gas fields off the east Mediterranean island's coast is slated to begin before the end of summer.
M/V Polar Duchess Completes Seychelles 3D Seismic Survey
Tuesday, July 29, 2014 WHL Energy says the M/V Polar Duchess vessel has completed 3D seismic survey at exploration blocks offshore Seychelles.
Drillsearch Farms Out 45% Stake in Permit ATP 924P in Cooper Basin
Tuesday, July 29, 2014 Drillsearch farms out 45% stake in permit ATP 924P in the south west Queensland section of the Cooper Basin to Beach Energy.

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Norway's Gassco Delays Major Gas Maintenance by 1 Day
Wednesday, July 30, 2014 Norwegian gas system operator Gassco will start a round of maintenance work one day later than planned.
Cenovus' Profit Triples as Oil Sands Production Jumps
Wednesday, July 30, 2014 Canada's number two independent oil producer, Cenovus, sees second-quarter profit more than treble.
President Takes 100% Ownership of Puesto Guardian Fields
Wednesday, July 30, 2014 President Energy agrees to pay $6.9 million for the 50-percent stake in Argentina's Puesto Guardian concession that it does not already own.
NZEC Receives Copper Moki Mining Permit in New Zealand's Taranaki Basin
Wednesday, July 30, 2014 New Zealand Energy Corp. receives the Copper Moki Mining Permit (PEP 55491) in New Zealand's Taranaki Basin.
Interra Spuds CHK 1191 Development Well in Myanmar's Chauk Oil Field
Wednesday, July 30, 2014 Interra Resources spuds development well CHK 1191 in the Chauk oil field in Myanmar.
Gas2Grid Seeks Farminee to Fund Malolos Oil Field Appraisal, Development
Wednesday, July 30, 2014 Gas2Grid seeks a farminee to fund field appraisal and development of the Malolos oil field in Service Contract 44 in Cebu, the Philippines.
First Gas Commences at Lishui 36-1 Field Off China's Zhejiang Province
Wednesday, July 30, 2014 CNOOC commences first production at the Lishui 36-1 gas field, located offshore Zhejiang province, China.

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Finance and Investing

Woodside's $2.68B Buyback from Shell Close to Failing
Thursday, July 31, 2014 Woodside's planned $2.68 billion share buyback from Shell is on the brink of failing, based on a count of votes mailed in ahead of a shareholder meeting.
Beach Energy to Produce Up to 9.4 MMboe, Spend $470M in Capex in FY 2015
Tuesday, July 29, 2014 Beach Energy plans to produce 8.6 to 9.4 million barrels of oil equivalent and spend up to $470 million in capital expenditure in financial year 2015.
Post Oak Energy Capital Commits $150 Million to CP Exploration II, LLC
Monday, July 28, 2014 Post Oak Energy Capital announces that it is committed to a $150 million line of equity to CP Exploration.
Mexico's Pemex 2nd-Qtr Losses Widen to 52.2B Pesos
Friday, July 25, 2014 State-owned oil company Pemex reported a wider second quarter loss hurt by higher sales costs, declining asset values and higher taxes, the company said on Friday.
Thai PTTEP 2Q Net Profit Up 55%, Beats Forecast
Friday, July 25, 2014 PTTEP reports a 55 percent rise in second quarter net profit due to higher petroleum sales and firmer global oil prices.
Sources: Reach Energy Locks in Cornerstones for IPO
Thursday, July 24, 2014 Malaysia's Reach Energy, a special purpose acquisition company with no existing assets, locked in up to seven cornerstones for its $236.93 million IPO, two sources involved with the deal say.
Schlumberger Second-Quarter Profit Falls 24%
Thursday, July 17, 2014 Schlumberger, the world's largest oilfield services company, reports a nearly 24% fall in quarterly profit.

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Company Operations

MUA Withdraws Notice to Strike at Mermaid Dampier Supply Base in WA
Thursday, July 31, 2014 The Maritime Union of Australia withdraws notice to go on strike at the Mermaid Dampier Supply Base in Western Australia.
Stochastic Simulation Appoints Leo Mullins as Managing Director
Thursday, July 31, 2014 Australia's Stochastic Simulation appoints Leo Mullins as new managing director.
Thai Bangchak to Buy Stake in Australia's Nido Petroleum
Thursday, July 31, 2014 Thai oil refiner Bangchak Petroleum's subsidiary signs a deal to buy a 19.66 percent stake in Australian oil-and-gas explorer Nido Petroleum Ltd for $20.7 million.
Chiyoda-CB&I JV Bags FEED Contract for Golden Pass LNG Export Project
Thursday, July 31, 2014 The Chiyoda-CB&I joint venture bags a front end engineering design services contract for the Golden Pass liquefied natural gas export project near Sabine Pass, Texas.
Tullow Sinks into Red but Confident Africa Strategy Will Pay Off
Wednesday, July 30, 2014 Tullow drifts into the red after writing off more than $400 million in exploration costs.
Shell's Pearl GTL: The Largest Gas-To-Liquids Plant In The World
Wednesday, July 30, 2014 As well as being the biggest, Pearl GTL is also one of the most complex and challenging energy projects in the world.
Whiting Petroleum Profit Beats As Bakken Production Surges
Wednesday, July 30, 2014 Whiting Petroleum posts a better-than-expected quarterly profit as oil and natural gas production jumped across the company's wells in North Dakota and Colorado's shale formations.
BAM Clough JV Completes Design, Construction Contract for Ichthys Project
Wednesday, July 30, 2014 BAM Clough Joint Venture completes the design and construction contract of a module offloading facility for the Ichthys liquefied natural gas project near Darwin, Northern Territory, Australia.
Petrofac Wins Shah Deniz 2 Project Work
Tuesday, July 29, 2014 Petroface win s $5 million maintenance build contract for the Shah Deniz 2 project in Azerbaijan.
Talisman Steers Clear Of Repsol Comment, Posts 2Q Loss
Tuesday, July 29, 2014 Talisman Energy reported a surprise loss, hurt by lower gas prices in North America and higher royalty payments on production.
WorleyParsons Clinches Brownfield EPCM Contract for Woodside's NWS Project
Tuesday, July 29, 2014 WorleyParsons clinches engineering, procurement and construction management services contract from Woodside for Western Australia's North West Shelf Project.

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