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Crew Kidnapped from Oil Tanker

Industry Headlines

Oil Stumbles on Fears of Virus Intensifying Beyond China
Friday, February 21, 2020 China revised how it calculates infection totals again, raising questions about data reliability and confirming the virus's growing reach.

US Rig Count Barely Budges
Friday, February 21, 2020 The US rig count is up just one rig from last week to 791.

Baker Hughes and TWC Fund Field Tech Career Program
Friday, February 21, 2020 From left, Baker Hughes' Muzzamil Khider, LSC's Stephen C. Head, TWC's Robert D. Andrade and TWC's Michael Gutierrez. PHOTO SOURCE: LSC

Oil Demand Growth Set for Strong 2021
Friday, February 21, 2020 Here are Rigzone's top stories during the last week, just in case you missed them...

Crew Kidnapped from Oil Tanker
Friday, February 21, 2020 Reporting indicates that the Alpine Penelope crude oil tanker has been attacked while in transit towards Lagos.

Vitol Sees Oil Recovery This Year
Friday, February 21, 2020 The oil market is poised for a recovery but will have to first tackle a severe virus-induced demand slump.

Oil Rally Sputters on Renewed Virus Concern
Friday, February 21, 2020 Oil pared a second weekly gain on renewed concern about the impact of the coronavirus.

Oil Jumps on Booming US Exports
Thursday, February 20, 2020 Exports surged and the expansion of domestic inventories slowed dramatically.


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Exploration

Onshore Timor-Leste Campaign Would Be Country's First
Friday, February 21, 2020 Australia-based junior explorer Timor Resources is one step closer to making history in the young country of Timor-Leste, which became a sovereign state only 18 years ago.

Houston American to Drill Second San Andres Well
Thursday, February 20, 2020 The well's planned total depth is about 5,500 feet with a 5,000-foot horizontal leg.

Deepwater Peru Well is a Dry Hole
Tuesday, February 18, 2020 The Karoon-operated Marina-1 exploration well will be plugged and abandoned.

Eni Makes Oil Discovery Offshore Mexico
Monday, February 17, 2020 Eni revealed Monday that it has made a new oil discovery on the Saasken exploration prospect offshore Mexico.

Exxon Boosts Guyana-Suriname Drilling Role for Noble
Wednesday, February 12, 2020 Noble Corp. plc has executed a commercial enabling agreement with ExxonMobil that provides a framework for ongoing drilling services in the Guyana-Suriname Basin.

Frontera Reports Colombia Exploration Success
Tuesday, February 11, 2020 Results from the La Belleza-1 well on the VIM-1 block are very encouraging.


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Production

Texas Official Unveils Flaring Criterion
Thursday, February 20, 2020 An official with the Railroad Commission of Texas (RRC), which oversees various oil and gas industry activities in the state, on Tuesday unveiled what reportedly is a new criterion for gas flaring.

Texas Oil Production Expected to Rise Monthly in 2020
Thursday, February 20, 2020 However, the pace of the growth is set to decelerate naturally over the next few months, according to a Rystad Energy analysis.

Wintershall Noordzee Brings Sillimanite Online
Thursday, February 20, 2020 Wintershall Noordzee has successfully started gas production from its operated Sillimanite field.

US Oil Export Story Has Really Just Started
Wednesday, February 19, 2020 All told, the US could become the largest crude oil exporter within five years.

North Sea Downtime Cut by 19 Percent
Tuesday, February 18, 2020 North Sea oilfield operators have reduced the frequency of downtime by 19.2 per cent in the year to September 2019, according to the Glacier Production Index.

Oil to Flow Again from Saudi-Kuwait Neutral Zone
Friday, February 14, 2020 Kuwait and Saudi Arabia will resume oil production from their shared fields this month, more than five years after a dispute halted supply.


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Finance and Investing

Earnings Show Shale Players Competing for Dividend Growth
Wednesday, February 19, 2020 Independent explorers have been punished by investors for aggressive growth plans that favored skyrocketing production over returning cash to shareholders.

Chevron Teams Up on Carbon Capture Investment
Wednesday, February 19, 2020 The investment will be used to deliver a pipeline of global projects to lower emissions from the oil and gas industry.

Investors Tightening the Screws on Oil, Gas Acquisitions
Monday, February 17, 2020 M&A activity in oil and gas has almost ground to a halt after a flurry of deals last autumn.

Enbridge 4Q Profits Shy of Analysts' Estimates
Monday, February 17, 2020 The miss was due to higher operating costs eating into the company's earnings.

Marathon Cuts 2020 Capital Budget by 11 Percent
Friday, February 14, 2020 The company's low organic free cash flow breakeven of $47 per barrel will be key in 2020.

Noble Energy Shaves $560MM From CAPEX Budget
Friday, February 14, 2020 The company is prioritizing free cash flow generation over US onshore growth in 2020.


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Company Operations

Noble Corp. Shuffles Leadership, Reports 4Q Earnings
Friday, February 21, 2020 For the year, Noble saw a net loss of $701 million, of which $4 million is tied to discontinued operations.

Petrofac Bags Sharjah Project
Friday, February 21, 2020 Petrofac's EPS division has been awarded an EPCC contract by Sharjah National Oil Corporation.

Maduro Shakes Up PDVSA, Declares Oil 'Emergency'
Thursday, February 20, 2020 Venezuela's President Nicolas Maduro announced a commission to revamp PDVSA, redoubling efforts to shore up the nation's crumbling oil industry.

Siemens to Modernize Arabian Drilling Jackup
Thursday, February 20, 2020 The upgrade includes a full drilling-drives package and cooling system.

Repsol Profit Misses Estimates
Thursday, February 20, 2020 Repsol SA reported fourth-quarter earnings that missed estimates as a weaker refining and chemicals business and a drop in crude prices had a larger impact than expected.

OTC Partners with UAHT for Sixth Year
Thursday, February 20, 2020 The Offshore Technology Conference revealed Wednesday that it will continue its partnership with United Against Human Trafficking.


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