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Hundreds of Texas Oil and Gas Workers to Lose Jobs in New Year

Industry Headlines

OPEC's Unplanned Supply Losses Could Double Its Cut
Thursday, December 13, 2018 Unplanned supply losses from Iran and Venezuela could effectively double the intended cutback of 800,000 barrels a day.

Market Could be Oversupplied by 2020
Thursday, December 13, 2018 The market could be quite tight in the first half of 2019 but oversupplied again by 2020.

Crude Oil Up Two-plus Percent
Thursday, December 13, 2018 WTI crude oil rose by nearly 3% while the Brent contract price edged upward by more than 2%.

Oil and Gas Futures Edge Downward
Wednesday, December 12, 2018 Oil and natural gas futures ended the day lower during midweek trading.

Mexico Cancels Two Oil and Gas Auctions
Wednesday, December 12, 2018 The Mexican government canceled February bidding on two oil and gas auctions, including one which offered blocks targeting shale resources.

Oil Extends Gain
Wednesday, December 12, 2018 Oil extended an advance after a U.S. industry report signaled a bigger than expected draw in nationwide crude inventories and as trade tensions eased between the world's two largest economies.

Oil Stays Below $52
Thursday, December 13, 2018 Oil traded below $52 a barrel after U.S. crude inventories slid less than expected and added to concerns that the OPEC+ coalition's output cuts won't be enough to avert a supply glut.


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Exploration

OGA Releases More Data to Help UKCS Exploration
Wednesday, December 12, 2018 The UK's OGA is continuing to make more and more data openly available to help revitalize exploration of oil and gas in the UKCS.

Libya Declares Force Majeure at Largest Field
Monday, December 10, 2018 Libya declared a state of force majeure at its largest oil field after an armed group forced a production halt.

Eni Makes New Oil Discovery
Monday, December 10, 2018 Eni announces a new oil discovery in the Afoxe exploration prospect, located in Block 15/06 offshore Angola.

Deepwater Block Writing Guyana's Future
Wednesday, December 05, 2018 Latest discovery pushes Guyana to become LatAm oil production heavy-hitter.

Offshore Mexico Appraisal Well Spuds
Tuesday, December 04, 2018 The Zama discovery appraisal program will include three penetrations: two wells and one sidetrack.

Offshore Guyana Estimate Gets Another Upgrade
Monday, December 03, 2018 ExxonMobil reports that it made its 10th discovery offshore Guyana.


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Production

ExxonMobil and BHP Greenlight Offshore Australia Project
Thursday, December 13, 2018 The project will develop one of the largest remaining sweet gas reservoirs in Australia's Bass Strait through a two-well brownfield tieback.

Alberta's Output-Cut May Be Working Too Well
Wednesday, December 12, 2018 Alberta's plan to boost crude prices through mandatory production cuts is working a little too well.

EIA Says US Domestic Oil Production Rising Despite Lower Prices
Tuesday, December 11, 2018 The US government left its forecast for domestic crude production unchanged for 2019.

Offshore Angola Field Achieves First Oil
Monday, December 10, 2018 Eni starts oil production from the Vandumbu field in Block 15/06 offshore Angola.

Equinor Gets Green Light for Troll Phase 3
Friday, December 07, 2018 The Norwegian ministry of petroleum and energy approves the plan for development and operation for the Troll Phase 3 project.

Apache Brings North Sea Garten Field Online
Wednesday, December 05, 2018 Apache Corporation initiates production from its Garten development in the UK sector of the North Sea.


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Finance and Investing

Drop in Crude to Test Big Oil's Devotion to Spending Discipline
Wednesday, November 14, 2018 The world's biggest oil companies have been saying that by keeping a tight rein on spending today, they'll be fortified against the next crude-price collapse.

Gastar Exploration Files for Chapter 11 Bankruptcy
Monday, October 29, 2018 The pure play Mid-continent energy company has entered into a restricting support agreement with its largest creditor and shareholder.

Private Equity Needs Long-Term Approach to Cash in on Shale
Monday, October 22, 2018 For private equity, the game plan for cashing in on the U.S. shale boom is shifting from quick flips to long-term commitments, according to one veteran energy investor.

Aramco Is Not Alone as Saudi Arabia's Privatization Push Slows
Thursday, September 20, 2018 Aramco may have grabbed the biggest headlines, but the oil giant's delayed initial public offering is just the latest sign of Saudi Arabia's slowing privatization push.

Qatar Calls For Increased Investment In Oil And Gas Markets
Thursday, September 06, 2018 Qatar's energy minister calls for oil-producing countries to boost investment in the oil and gas sector given a recovery in the price of oil.

Weatherford CEO Expects 2018 EBITDA To Nearly Double
Wednesday, September 05, 2018 Weatherford International's full-year earnings before expenses will nearly double from last year, CEO Mark McCollum says.


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Company Operations

Premier Oil Eyes Bid for Chevron's North Sea Assets
Thursday, December 13, 2018 Premier Oil is considering a bid for a package of North Sea oil and gas assets put on the block by Chevron.

Saipem Reveals Extent of Cyber Attack
Thursday, December 13, 2018 The cyber attack on Saipem hit servers based in the Middle East, India, Aberdeen and Italy.

Parker Drilling Files for Chapter 11 Bankruptcy
Wednesday, December 12, 2018 The Houston oilfield services provider has entered a restructuring process.

McDermott and BHGE Join Australia Gas Project
Wednesday, December 12, 2018 McDermott and BHGE have struck a deal with Western Gas to be the exclusive development partners for the Equus Gas Project.

New Exploration and Production Company Created
Wednesday, December 12, 2018 Eni announces the creation of Var Energi AS.

Cyber Attack Targets Oil and Gas Services Company
Tuesday, December 11, 2018 Saipem suffers a cyber attack on its servers.

ConocoPhillips Plans for $6.1B Capital Spend in 2019
Monday, December 10, 2018 ConocoPhillips is keeping capital expenditures flat in 2019 while anticipating a production surge.


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