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Friday, August 22, 2014 - Two countries are at the leading edge of a new wave of upstream investment in Latin America, observes Wood Mackenzie.
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Industry Headlines

Talisman To Proceed With Kurdistan Sale Despite Big Oil Find
Friday, August 22, 2014 Talisman says it still plans to sell its oil properties in Iraq's Kurdistan region, even after its partner announced a massive oil discovery on its properties.
Wood Mackenzie: Shale to Keep US As Dominate Oil, Gas Player
Friday, August 22, 2014 Shale formations are expected to keep the US in a prominent position over the next decade, Wood Mackenzie says at NAPE.
Mexico Launches Special Police Force To Guard Economic Activity
Friday, August 22, 2014 Mexico launches a scaled-back version of a new police force President Enrique Pena Nieto had vowed to create while on the campaign trail to safeguard businesses against rampant organized crime.
UK Oil Output Threatened By Platforms Running Out Of Juice
Friday, August 22, 2014 The UK's oil industry is facing the threat of a cascade of North Sea rig closures.
US Steel Pipe Makers Win Key Anti-Dumping Case Against Cheap Imports
Friday, August 22, 2014 The US has approved anti-dumping duties against South Korea and other producers of steel pipes for the energy sector, a victory for domestic producers hoping to benefit from the US shale boom.
Consultancy: LatAm Attitude Shift Bodes Well for Upstream Investors
Friday, August 22, 2014 Two countries are at the leading edge of a new wave of upstream investment in Latin America, observes Wood Mackenzie.
CEO: OMV Pulls Staff From Kurdistan, Ponders Crimea
Friday, August 22, 2014 OMV withdraws staff from Iraqi Kurdistan and is also waiting on what happens south of Crimea, where the firm has plans with Exxon.
Kemp: Could Shale Revive China's Flagging Oil Fields?
Friday, August 22, 2014 The need to find and develop more oil reserves is again urgent for China, and hunting for more oil around the Daqing oil fields is one of its most promising options.
US Crude Falls, Down For Fifth Week, On Ample Supply
Friday, August 22, 2014 US crude oil futures fall for a fifth straight week of declines while Brent remains under pressure from a stronger dollar and plentiful supplies.

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Exploration

AziPac to Acquire 25% Stake in Block 127 in Vietnam's Phu Khanh Basin
Friday, August 22, 2014 AziPac agrees to acquire 25 percent interest in Block 127 production sharing contract in the Phu Khanh Basin, offshore Vietnam from Mitra Energy.
Kan Tan IV Continues Drilling at Whio-1 Well in PEP 51313 Offshore Taranaki
Friday, August 22, 2014 Cue Energy provides update on drilling at Whio-1 well in permit PEP 51313 offshore Taranaki, New Zealand.
Argentina's YPF Extends Energy Deal With China's Sinopec To 2027
Friday, August 22, 2014 YPF and a subsidiary of Sinopec Group agree to extend their joint oil exploration and development projects in the western Argentine province of Mendoza until 2027.
China Rongsheng Acquires Stakes in Kyrgyzstan's Oil Fields for $282M
Friday, August 22, 2014 China Rongsheng Heavy Industries acquires 60 percent interest in Central Point Worldwide for $282 million, giving it stakes in four oil fields adjacent to the Fergana Valley in Kyrgyzstan.
Santos Makes Gas-Condensate Discovery at Lasseter-1 Well in Browse Basin
Friday, August 22, 2014 Santos makes a gas-condensate discovery at Lasseter-1 exploration well in permit WA-274-P in Browse Basin, offshore Western Australia.
Idemitsu Makes Gas, Condensate Find at Blocks 05-1b & 05-1c Off Vietnam
Thursday, August 21, 2014 Inpex reports that Idemitsu, the operator of Blocks 05-1b and 05-1c offshore southern Vietnam, made a gas and condensate discovery.
Hydrocarbon Flows During Testing at Davenport 1 in Permit PEL 94 in SA
Thursday, August 21, 2014 Strike Energy reports that hydrocarbon shows were observed during testing operations at Davenport 1 well in PEL 94 in South Australia.

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Production

Hibiscus Clears Australian FIRB's Hurdle to Take 25% Stake in Kitan Field
Friday, August 22, 2014 Hibiscus Petroleum moves nearer to completing its acquisition of a 25 percent stake in Kitan oil field after Australia's Foreign Investment Review Board raised no objections.
Flow-Back Results at Cambay-77H in Gujurat Suggest a High Performance Well
Friday, August 22, 2014 Oilex reports that flow-back results at Cambay-77H well in Cambay production sharing contract in Gujurat, India indicate that it can be a high performance well.
Leni Drills 5th Well in Trinidad Development Campaign
Thursday, August 21, 2014 Leni Gas & Oil drills the fifth well in its 30-well development campaign at the Goudron field, onshore Trinidad.
Premier Oil Awaits End Of Summer Work Before Production Upgrade
Thursday, August 21, 2014 Premier Oil may upgrade its 2014 production forecast after better-than-expected output during the first half.
Galoc JV to Decide on Drilling in Phillipines' SC14C in End 2014/Early 2015
Thursday, August 21, 2014 Otto Energy says the Galoc joint venture in SC14C offshore the Philippines will make a decision on further drilling activities in late 2014 or early 2015.
Bumi Armada Inks $3B FPSO Contract with Eni for Angola's East Hub Field
Thursday, August 21, 2014 Bumi Armada inks a $3 billion contract with Eni Angola for the chartering, operation and maintenance of a floating production, storage and offloading vessel for the East Hub field in Block 15/06 offshore Angola.

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Finance and Investing

Sources: Sinopec Planning $1.5B Hong Kong IPO of Oilfield Services Unit
Friday, August 22, 2014 Sinopec is planning a $1.5 billion Hong Kong initial public offering for its oilfield services unit in the first half of 2015, people familiar with the matter said.
Santos' Underlying 1H 2014 Net Profit Up 3% YOY to $240M
Friday, August 22, 2014 Santos posts an underlying first half profit of $240.3 million, 3 percent more than last year, with the gains due to an earlier start-up of the PNG LNG project.
Dolphin Sees Possible Start of Dividend after 3Q Report
Wednesday, August 20, 2014 Seismic survey vessel operator Dolphin may soon start paying dividends after an improvement in its earnings.
Gulf's Topaz Energy Gets $75M Investment from Standard Chartered PE
Wednesday, August 20, 2014 Oman's Renaissance Services says its unit Topaz Energy and Marine had secured a $75 million investment from Standard Chartered Private Equity.
Reach Energy Whets Investor Appetite for Malaysian SPACs
Friday, August 15, 2014 Reach Energy, set up by veterans in Malaysia's oil and gas industry, made its market debut in Kuala Lumpur after completing the country's largest-ever initial public offering by a special purpose acquisition company (SPAC.)
Triple Energy Inks MoU for BSP to Invest $6M in Firm's CSG Project in China
Thursday, August 14, 2014 Triple Energy inks memorandum of understanding with Blue Sky Power for the latter to invest up to $6 million in the firm and its coal seam gas project in China.
ICD Posts IPO Pricing
Thursday, August 07, 2014 Independence Contract Drilling announces the pricing of its initial public offering of 10,000,000 shares of common stock at $11.00 per share.

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Company Operations

Sinopec Q2 Earnings Rise 36%, Beat Forecast
Friday, August 22, 2014 Sinopec Corp. posts a 36% rise in second-quarter profit.
Rosneft Signs Collaboration Deal with Seadrill, NADL
Friday, August 22, 2014 Rosneft signs a framework agreement with Seadrill and North Atlantic Drilling that will see the companies collaborate on oilfield projects.
Building an International Technical Career with Shell
Friday, August 22, 2014 Senior Manager of Operations at the Shell Middle Distillate Synthesis plant Teo Mui Poh explains why she's been so happy in her 20-year career.
Petrofac Chairman Resigns
Friday, August 22, 2014 Petrofac announces the resignation of its chairman, Norman Murray.
Atlantic Farms Out PL528 Stake to Repsol
Friday, August 22, 2014 Repsol has agreed to buy a 6% stake in Norwegian production license PL528/528b from Atlantic Petroleum.
Qinterra Lands $20M Deal to Support Petronas Carigali's Malaysia Operations
Friday, August 22, 2014 Qinterra Technologies lands a contract, worth up to $20 million, to support Petronas Carigali's operations in Malaysia.
Keppel FELS Delivers Newbuild Jackup 'Dukhan' to Qatar's GDI
Friday, August 22, 2014 Keppel FELS delivers jackup "Dukhan" to Qatar's Gulf Drilling International, with the newbuild contracted for work with Qatar Petroleum.

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