Oil & Gas News

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What OPEC+ Must Do for Oil to go Above $70 in 2019

Industry Headlines

US Shale Becomes Oil Industry's Safe Haven
Tuesday, December 11, 2018 Big oil is investing more in U.S. shale, not less, after the recent tumble in crude prices.

Biggest Negative Risk for Oil Price
Tuesday, December 11, 2018 The biggest negative risk for the price of oil after the OPEC+ decision is a larger slowdown in the world economy.

Oil Holds Drop
Tuesday, December 11, 2018 Oil held its biggest loss in 2 weeks.

OPEC Is Alive and Highly Relevant
Monday, December 10, 2018 OPEC has been described as alive and well and highly relevant following the announcement of its latest output cut deal.

Loews CEO Tisch Eyes $75 Oil in Two Years
Monday, December 10, 2018 The head of one US conglomerate is eyeing a rebound that'll bring crude back to $75 a barrel.

Oil Prices Settle Lower
Monday, December 10, 2018 Crude oil futures start the week on a lackluster note.


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Exploration

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.

Trump Admin to Advance Seismic Surveys in Atlantic
Friday, November 30, 2018 The Trump administration is taking a major step toward allowing a first-in-a-generation seismic search for oil and gas under Atlantic waters.


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Production

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.

Pemex Triples Estimate for 'Most Important Onshore Field in 25 Years'
Wednesday, November 28, 2018 Pemex has more than tripled its estimated reserves in its Ixachi field.

OPEC Expected to Cut Oil Output
Wednesday, November 28, 2018 OPEC and its allies will announce production cuts to check a slump in oil prices when they meet next week, according to a Bloomberg survey.

Saudi Responds to Trump with Record Output
Monday, November 26, 2018 Saudi Arabia is pumping more crude than at any time since its first barrel was extracted 80 years ago, responding to pressure from US President Trump.


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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

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.

US Oil Rig Count Drops by 10
Friday, December 07, 2018 US drillers cut 10 rigs this week.

Chevron Boosts Spending on Shale Projects
Friday, December 07, 2018 Chevron raises its spending budget for the first time since 2014.

Sanchez Energy Enlists Advice from Restructuring Firm
Thursday, December 06, 2018 Sanchez Energy has reached out to a restructuring firm as the company explores strategic alternatives.

Well-Centric Buys Simmons Edeco Europe
Thursday, December 06, 2018 Well-Centric, a FrontRow Energy Technology Group company, announces the acquisition of Simmons Edeco Europe.


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