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Thursday, March 26, 2015 - Drilling activity across the global oil and gas industry could return to 2014 levels next year, according to a new report from research firm Wood Mackenzie.
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Industry Headlines

Oil Council: Shale Won't Last, Arctic Drilling Needed Now
Thursday, March 26, 2015 In order for the US to keep domestic production high and imports low, oil companies should start probing the Artic now, an Energy Department advisory council says in study.
Canada's New Brunswick Province Bans Fracking, Plans Study
Thursday, March 26, 2015 Lawmakers in New Brunswick voted to prohibit fracking in the eastern Canadian province, committing to study the method for one year before reconsidering the ban in 2016.
Norway's Industrial Workers Reach Last Minute Wage Deal
Thursday, March 26, 2015 Norwegian manufacturing workers reached a last minute wage deal with employers on Thursday, averting mediation and a possible strike, the LO and NHO say.
Slow Start For LatAm Despite Oil Price Jump
Thursday, March 26, 2015 Latin American credits were off to a lackluster start despite an uptick in crude prices, with names largely drifting lower amid a softer tone in the broader market.
Mexico's First Oil Tender to Feature Extended Exploration Period
Thursday, March 26, 2015 As Mexico opens up its oil sector to private producers for the first time in decades, the initial set of contracts up for grabs later this year will feature extended exploration periods.
Cyprus Draws Norway Parallel After Latest Gas Quest Failure
Thursday, March 26, 2015 Cyprus' president sought to draw a parallel with oil-rich Norway after the latest failure in the Mediterranean island nation's quest for gas.
Sensor Technology Allows Better Visibility in Tracking Fluids
Thursday, March 26, 2015 A sensor technology allows oil and gas operators to better understand the movement of oil and water in reservoirs.
Oil Up 5% After Saudi Strikes In Yemen; Dollar Limits Gains
Thursday, March 26, 2015 Oil jumps about 5%, rallying a second straight day, after air strikes in Yemen by Saudi Arabia and its Gulf Arab allies spark fears of a bigger Middle East battle.

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Exploration

Maurel et Prom Slashes Oil Hunting Budget as Prices Weak
Thursday, March 26, 2015 France's Maurel et Prom slashes its exploration budget by more than 60 percent.
Cue Energy Gets Approval to Farm-in for 12.5% Stake in Sumatra's Mahato PSC
Thursday, March 26, 2015 Cue Energy receives government approval for the farm-in agreement with Bukit Energy for a 12.5 percent stake in the Mahato Production Sharing Contract in Central Sumatra, Indonesia.
Dolphin Geophysical Commences Seismic Survey for Ophir Energy Off Myanmar
Thursday, March 26, 2015 Dolphin Geophysical commences seismic acquisition offshore Myanmar for Ophir Energy.
Drilling Activity to Rebound in 2016 after Exploration Cuts this Year
Thursday, March 26, 2015 Drilling activity across the global oil and gas industry could return to 2014 levels next year, according to a new report from research firm Wood Mackenzie.
OGDCL Discovers Oil at Palli Deep-1 Well in Pakistan's Sindh Province
Thursday, March 26, 2015 Oil and Gas Development Co. Ltd. discovers oil at the Palli Deep-1 exploration well in Sindh province, Pakistan.
AWE Spuds Irwin-1 Exploration Well in Onshore Perth Basin
Thursday, March 26, 2015 AWE spuds the Irwin-1 exploration well in Perth Basin, Western Australia.

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Production

Swiber Lands $405.6M Contracts, Including a $333M EPCI Deal from Indian NOC
Thursday, March 26, 2015 Swiber lands $405.6 million contracts, including a $333 million deal for engineering, procurement, construction and installation services to a national oil company in India.
Lion Reports Significant Gas Shows at Lofin-2 Well in Indonesia's Seram PSC
Thursday, March 26, 2015 Lion Energy says CITIC finds significant gas shows at Lofin-2 appraisal well in the Seram (Non-Bula) Production Sharing Contract in eastern Indonesia.
BlackRock, First Reserve Take $900M Stake In Mexico Pipeline Project
Thursday, March 26, 2015 BlackRock and First Reserve have taken a joint stake worth around $900 million in the second phase of Mexico pipeline project Los Ramones, Pemex says.
Petrobras Confirms Presence of Hydrocarbons at C1 Well in Santos Basin
Wednesday, March 25, 2015 Petrobras confirms presence of hydrocarbons at C1 well in Libra block in Santos Basin, offshore Brazil.
US Senate Democrats Push White House On Oil Train Safety
Wednesday, March 25, 2015 US Senate Democrats urge the White House to implement national oil train safety standards and to do more to control the volatility of crude moving in those shipments.
BG's Norwegian Knarr Oilfield Halts Output Due to Fire
Tuesday, March 24, 2015 A small fire breaks out on floating production vessel serving BG Group's Knarr oilfield in the Norwegian North Sea.
Cooper Energy Plans Production Test at Bunian-3 Development Well in Sumatra
Tuesday, March 24, 2015 Cooper Energy plans to carry out production testing at Bunian-3 development well in Sukananti KSO in South Sumatra, Indonesia.

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Finance and Investing

US Shale Oil Firms Raise Enough Equity To Avoid Loan Reset Squeeze
Tuesday, March 24, 2015 A surge in equity issuance so far this year by oil and gas companies has surprised many who in December thought the price drop would hurt the ability of producers to tap capital markets.
Tullow Gets $450M Lending Boost from Creditors, Shares Climb
Friday, March 20, 2015 Africa-focused oil producer Tullow Oil raises an additional $450 million of capital from existing lenders, boosting its financial strength despite weak oil prices and sending shares higher.
EnQuest Says To Increase North Sea Investments After Tax Cuts
Thursday, March 19, 2015 EnQuest says it will be able to invest more money in some of its North Sea oil fields after Britain announced cuts to oil and gas taxes.
Ophir Returns to Profit and Cuts Spending
Thursday, March 19, 2015 Oil explorer Ophir Energy, which completed the acquisition of rival Salamander Energy this month, returned to profit last year and says it would cut spending by $250 million over two years to deal with low oil prices.
Sources: Saudi Aramco Nears $10B Loan Deal At Tight Pricing
Thursday, March 12, 2015 Saudi Aramco, the kingdom's state oil giant, is close to completing a $10B tightly-priced loan, according to banking sources.
Dragon Oil Approached By Largest Shareholder
Tuesday, March 17, 2015 Dragon Oil Plc says it had been approached by Dubai's Emirates National Oil Co Ltd LLC (ENOC), its largest shareholder, about a possible offer for its shares ENOC did not already own.

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Company Operations

Genel Raises Debt to Fund Kurdistan Strategy
Thursday, March 26, 2015 Iraqi Kurdistan-focused Genel Energy completes a placing of $230 million of bonds.
Seplat Says 2014 Profit Fell 54% as Oil Prices Plunged
Thursday, March 26, 2015 Nigeria's Seplat says its 2014 pre-tax profit dropped 54 percent as the price of crude oil plunged.
Petrobras Names BNDES Head Coutinho As New Chairman
Thursday, March 26, 2015 Petrobras names Luciano Coutinho, the head of Brazil's state development bank BNDES, as its new chairman.
Shell To Cut More UK North Sea Jobs In 2015
Thursday, March 26, 2015 Shell plans further job cuts in its UK North Sea operations this year.
ConocoPhillips Awards Bayu-Udan Satellite Communications Deal to Speedcast
Thursday, March 26, 2015 Speedcast bags satellite communications services contract from ConocoPhillips for the Bayu-Udan field in Timor Sea.
Yokogawa to Supply Control & Safety System for Petronas' PFLNG2 Facility
Thursday, March 26, 2015 Yokogawa wins contract to supply a control and safety system for Petronas' floating liquefied natural gas facility (PFLNG2) now under construction in South Korea.
BP Sees TANAP Gas Pipeline Project Deal within Two Months
Wednesday, March 25, 2015 BP expects to sign a deal with the Trans-Anatolian Natural Gas Pipeline project within two months.

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