Oil & Gas News

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Baker Hughes: US Oil Rig Count Holds Steady After Six Weeks Of Gains

Industry Headlines

Top 10 Drilling Contractors Oil, Gas Professionals Want to Work For
Tuesday, May 22, 2018 Rigzone outlines the top 10 drilling contractors oil and gas professionals want to work for, according to its latest Ideal Employer Survey.

Oil Rallies to Multi-Year Highs on Venezuela Worries
Monday, May 21, 2018 U.S. crude hit its highest level since 2014 amid rising concerns that Venezuela's oil output could fall further following the country's presidential election and potential sanctions on the OPEC-member nation.

Corvex, Icahn to Mull Bid for Oil and Gas Producer Energen
Monday, May 21, 2018 Activist hedge fund manager Keith Meister and billionaire investor Carl Icahn said they may try to buy oil and gas producer Energen Corp.

Forget About Oil at $80. The Big Rally Is in Forward Prices
Monday, May 21, 2018 Some investors bet that the "lower for longer" price mantra is all but over.

Crude Oil's Surge Is Putting the 'Petro' Back in Petrocurrencies
Monday, May 21, 2018 The currencies of some of the world's top oil producers are set to become intertwined with crude prices once again

CAPEX Among Asia's O&G Companies Set to Reach $102B in 2018
Monday, May 21, 2018 CAPEX among Asia's oil and gas companies is set to register a 37% year-on-year increase in 2018, oil and gas analysts at BMI Research confirm.

Saudi Arabia Assures On Supply As Oil Hits $80 A Barrel
Friday, May 18, 2018 Saudi Arabia says it is consulting other oil producers in and outside OPEC to ensure the world has adequate supplies to support economic growth.

Baker Hughes: US Oil Rig Count Holds Steady After Six Weeks Of Gains
Friday, May 18, 2018 The US oil rig count held steady this week after rising for 6 weeks in a row even as crude prices soar to multi-year highs.

Oil Prices Fall, Brent Notches Sixth Week Of Gains
Friday, May 18, 2018 Oil prices fell, but Brent crude marked its sixth straight week of gains.


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Exploration

Cuadrilla Applies For Injunction Covering Shale Gas Site
Monday, May 21, 2018 Cuadrilla Resources files papers in preparation for a hearing for an injunction covering its shale gas exploration operations at Preston New Road, Lancashire.

Echo Energy Announces Gas Discovery Onshore Argentina
Friday, May 18, 2018 Echo Energy plc announces a gas discovery at the ELM-1004 exploration well, which is located at the company's Fracción C asset onshore Argentina.

Energy Ministry: Ghana To Award Nine New Oil Blocks Off West Coast
Thursday, May 17, 2018 Ghana is set to award nine new upstream oil blocks for commercial exploration off its western coast beginning this year.

BEIS Issues Backing for UK Shale Gas Industry, Sets Out Support Actions
Thursday, May 17, 2018 The Secretary of State for the UK's Business, Energy and Industrial Strategy department issues his backing for the UK's onshore shale gas industry and set out a series of actions to support the sector.

Rosneft Says South China Sea Drilling Is Within Vietnam Waters
Thursday, May 17, 2018 Drilling in the South China Sea by Rosneft is within Vietnamese territorial waters, the Russian state oil firm says.

Tortue Field Appraisal Well Hits 98-Feet of Hydrocarbon-Bearing Reservoir
Tuesday, May 15, 2018 The DTM-3 appraisal well, located at the Tortue field within the Dussafu License offshore Gabon, encounters approximately 98-feet of hydrocarbon-bearing reservoir.


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Production

Production Vessel at Ghana's Jubilee Oilfield to Shut Temporarily
Monday, May 21, 2018 The production vessel at Tullow's flagship Jubilee oilfield off Ghana's west coast will shut down next week for 21 days while it undergoes repairs, the country's power utilities said.

Unemployed Threaten Libya Oilfields Feeding Es Sider; Production Normal
Monday, May 21, 2018 A group of unemployed Libyan youths will shut down oilfields in Marada town in the east unless demands for better state services are met, the group said on Sunday.

Flow Test at Egyptian Well Exceeds Expectations
Friday, May 18, 2018 Flow testing at SDX Energy Inc's Ibn Yunus-1X discovery, located within South Disouq in Egypt, exceeds the company's expectations.

Premier Oil Says Debt Reduction On Track As Output Grows
Wednesday, May 16, 2018 Premier Oil says it is heading for a 'material' reduction of its $2.7 billion debt pile, with its Catcher field ramp-up reaching a promised 60,000 barrels per day.

Norwegian Production Drops in April
Wednesday, May 16, 2018 Norwegian production drops month-on-month in April, according to preliminary output figures released by the Norwegian Petroleum Directorate.

Wintershall Submits $1.2B PDO for North Sea Field
Wednesday, May 16, 2018 Wintershall Norge AS submits a $1.2 billion plan for development and operation for the North Sea Nova field.

Russia State Oil Firm Starts Drilling At New Well Offshore Vietnam
Tuesday, May 15, 2018 A unit of Russian state oil firm Rosneft has started drilling at a new production well in waters off the southern coast of Vietnam.


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Finance and Investing

Report: Petrobras CEO Sees Possible Rise In Capital Spending
Friday, May 18, 2018 Petrobras may raise its capital expenditure program.

Investors See Big Oil Surge, But Physical Markets Suggest Caution
Tuesday, May 15, 2018 Physical markets for oil shipments tell a different story.

Petrobras' Profit Jumps On Asset Sales, Higher Oil Prices
Tuesday, May 08, 2018 Petrobras reports a 57% surge in quarterly profit.

Oil's Lifeline Turns Into $7 Billion Drag as Crude Prices Jump
Wednesday, May 02, 2018 There's a downside to oil prices being up that could cost the industry more than $7 billion.

Rosneft Appeals to Market With $2 Billion Buyback, Debt Cut
Tuesday, May 01, 2018 Rosneft PJSC plans to start a $2B share buyback this year.

Pemex CEO Says We Must Move To IPO, But Will Take Years
Wednesday, April 25, 2018 Pemex says it must move towards a stock exchange listing like Saudi Arabia's Aramco has done but that such a step would take years.


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Company Operations

Simmons Edeco Wins Multi-Million Dollar Deal with 'Major' N.Sea Operator
Monday, May 21, 2018 Oilfield services company Simmons Edeco secures a multi-million dollar contract with a 'major' North Sea oil and gas operator.

Australia's Santos Gets Final Sweetened $10.8B Bid From Harbour Energy
Monday, May 21, 2018 U.S.-based Harbour Energy makes a final offer of $10.8 billion for Australia's Santos Ltd, hiking its bid for a fifth time in nine months.

BP Is Said in Talks for Conoco's UK Field Stake in Swap
Friday, May 18, 2018 BP and ConocoPhillips are in discussions for an asset swap deal, according to sources.

Union Jack Oil 'Delighted' By BEIS Statement on UK Shale Industry
Friday, May 18, 2018 The executive chairman of Union Jack Oil plc says the company was 'delighted' by the Secretary of State for Business, Energy and Industrial Strategy's recently released written statement on UK shale.

Ophir Energy CEO Steps Down
Friday, May 18, 2018 Ophir Energy plc announces that Nicholas Cooper, its current chief executive officer and executive director, has stepped down from the board with immediate effect.

UK's Petrofac Awarded More Than $1.7B New Orders This Year
Friday, May 18, 2018 Oilfield service firm Petrofac Ltd secures more than $1.7 billion of new orders so far this year.


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