FEATURED STORY
Iran Oil Tanker Hit by Missiles in Red Sea

Industry Headlines

Oil Prices Rally on Iran Tanker Attack Report
Friday, October 11, 2019 WTI and Brent crude oil prices posted solid gains Friday following reports of more unrest in the Arabian Peninsula region.

Los Angeles Blaze Threatens Gas Field
Friday, October 11, 2019 A Los Angeles wildfire forced the evacuation of 25,000 homes and is threatening a natural gas storage facility that four years ago sprung the biggest gas leak in U.S. history.

US Rig Count Increases for First Time in Two Months
Friday, October 11, 2019 The U.S. saw a net gain of one rig, ending a seven-week long string of declines.

Energy Firms in US 10th Dist. See Decreased Activity in 3Q
Friday, October 11, 2019 Oil and gas firms in the U.S.' 10th District saw a moderate decrease in activity for the third quarter of 2019, according to results of the Kansas City Fed's 3Q energy survey.

Aramco to Give Green Light for World's Biggest IPO Soon
Thursday, October 10, 2019 Saudi Aramco's board is expected to give final approvals to proceed with its mammoth share sale next week.

Shale Wells 'Riding the Edge' of Profitability at Present Prices
Thursday, October 10, 2019 U.S. shale oil plays are "riding the edge of profitability" at current prices and the industry faces a significant slowdown in fracking activity if crude falls below $50 a barrel for a sustained period.

Oilfield Services Eyeing Survival Tactics in Weak US Market
Friday, October 11, 2019 Contraction of oil and gas E&P means the return of lean times for oilfield services companies.

Chevron CEO Praises Texas for its Business Environment
Thursday, October 10, 2019 Chevron Corp. may be based in California, but CEO Mike Wirth had little praise for the state as he lauded the Texas business environment during an event in Houston.

Nigeria Demands $62B from Oil Majors
Thursday, October 10, 2019 Nigeria is seeking to recover as much as $62 billion from international oil companies.

Top Oil Traders See 2020 Prices Stuck in the $50s
Thursday, October 10, 2019 As the oil industry's top executives gathered in London for one of the most important events of the year their view on crude prices was clear - they'll struggle next year.


READ MORE

Exploration

Brazil Pre-Salt Block Goes to Total-Led Group
Friday, October 11, 2019 A consortium of Total, QP and Petronas has won the C-M-541 deep offshore license in Brazil's pre-salt Campos Basin.

Offshore Australia Permit Goes to Equinor
Thursday, October 10, 2019 Equinor has won a new exploration permit in the Northern Carnarvon Basin offshore Western Australia.

US Opens Up California Land for Oil, Gas Leasing
Monday, October 07, 2019 The U.S. Department of the Interior's Bureau of Land Management has opened up 722,000 acres of federal land in California's central coast for oil and gas leasing and development.

Brazil Oil Auction Attracts Interest from Supermajors
Monday, September 30, 2019 The auction of drilling rights off the coast of Brazil planned for November has attracted interest from some of the world's largest producers.

BP Strikes Out in Offshore Oil Exploration Hotspot
Monday, September 30, 2019 It was supposed to be BP Plc's big Brazilian breakthrough after years of setbacks in one of the world's top destinations for offshore oil.

Big Oil Faces Turning Point Over Drilling Plans Offshore Australia
Thursday, September 26, 2019 Australia's offshore petroleum regulator is due to decide by Nov. 14 whether to approve Norwegian energy giant Equinor ASA's plan to drill exploration wells in the Great Australian Bight.


READ MORE

Production

IEA Cuts Oil Demand Forecast as Economy Eclipses Saudi Attack
Friday, October 11, 2019 The International Energy Agency cut forecasts for growth in global oil demand, noting that fears of an economic slowdown are overshadowing the loss of supply during last month's attack on Saudi Arabia.

Alve Life Extension Gets PSAN Consent
Thursday, October 10, 2019 Petroleum Safety Authority Norway gives Equinor consent to use the facilities on the Alve field beyond their original operating life.

WoodMac Bullish on Exxon Permian Growth Campaign
Tuesday, October 08, 2019 Wood Mackenzie has revealed that it is bullish on ExxonMobil's Permian growth campaign.

Guyana Nears Oil and Gas Turning Point
Tuesday, October 08, 2019 One of RAMPS Logistics' employees in Guyana. PHOTO SOURCE: RAMPS Logistics

North Sea Giant Comes Online
Monday, October 07, 2019 The Johan Sverdrup field started production on October 5.

Permian Methane Project Lacks Industry Partners
Thursday, October 03, 2019 EDF said it hopes the findings will be of value to industry and regulators alike.


READ MORE

Finance and Investing

Goodnight Midstream Secures $500MM Investment from Tailwater
Wednesday, October 09, 2019 Private equity firm Tailwater Capital LLC has committed to investing more than $500 million to Goodnight Midstream, a company that builds and operates midstream oilfield water infrastructure for producers.

Warren's Fracking Proposal Has Shale Investors Weighing Risk
Wednesday, October 09, 2019 The prospect of Elizabeth Warren becoming the 2020 Democratic presidential nominee, or the 46th president of the United States, has energy investors worrying about risks to hydraulic fracturing.

Big Oil's Renewable Shift May Drown Shareholders With Cash
Tuesday, October 08, 2019 Shareholders of global oil giants will be "drowned" in cash from dividends and buybacks for the next 20 years as the firms shift their capital structure to finance renewable projects, according to Rystad Energy.

Aramco Seeks to Refinance $2.2B of Total JV Debt
Thursday, October 03, 2019 Saudi Aramco is in talks with banks to refinance $2.2 billion of debt held by its joint venture with Total SA, according to people familiar with the matter.

NWF Gets Nod to Sell $6B in Oil Stocks
Wednesday, October 02, 2019 Norway's massive wealth fund got the go-ahead to sell oil and gas stocks worth $5.9 billion.

Aramco to Boost Dividend
Tuesday, October 01, 2019 Saudi Aramco sought to underpin the targeted $2 trillion valuation for its IPO by increasing dividends, paying less tax and finding cornerstone investments from major Asian oil producers.


READ MORE

Company Operations

US Independent Emerges from Bankruptcy
Thursday, October 10, 2019 Halcon Resources Corporation has emerged from bankruptcy under chapter 11 of the U.S. bankruptcy code.

Halliburton Cuts 650 Jobs in US
Wednesday, October 09, 2019 Oilfield services giant Halliburton has laid off 650 employees in the U.S.

Exxon Considers Sale of Malaysian Offshore Assets
Wednesday, October 09, 2019 Exxon Mobil Corp. is considering a sale of its oil-producing offshore assets in Malaysia as part of the U.S. energy giant's global divestiture program.

Woodside In for Large-Scale Tree Planting Project
Wednesday, October 09, 2019 The first phase of the program will involve planting up to 5,000 hectares, primarily in Western Australia.

Continental Mulls Sale of Stake in Water Unit
Tuesday, October 08, 2019 Continental Resources Inc. is exploring a sale of a non-controlling stake in its water-infrastructure business that could value the unit at $1 billion or more.

Maersk Expands Mexico Footprint
Tuesday, October 08, 2019 The Maersk Installer subsea support vessel. PHOTO SOURCE: Maersk Supply Service


READ MORE