Oil & Gas News

FEATURED STORY
This Is What Shale Growth Will Hinge On

Industry Headlines

CEO Pay Drop and More Share your comments
Saturday, April 10, 2021Here are some of Rigzone's top upstream stories during the last week, just in case you missed them...

Oil Futures Show Biggest Loss in Weeks Share your comments
Friday, April 09, 2021Oil posted its worst week in three.

Oil Fluctuates as Saudis Confident on OPEC+ Hike Share your comments
Friday, April 09, 2021Oil switched between gains and losses after Saudi Arabia said it was confident that OPEC+ was right in agreeing to raise output.

Californians May Soon Pay $4 for Gasoline Share your comments
Friday, April 09, 2021Californian drivers are edging closer to paying $4 for a gallon of gasoline with the state open for business again and Governor Gavin Newsom planning for a summer with almost no restrictions.

WTI Edges Downward Share your comments
Thursday, April 08, 2021Oil closed lower, yet its underlying market structure firmed.

Atlantic Faces Another Wild Hurricane Season Share your comments
Thursday, April 08, 2021The Atlantic hurricane season is poised to be another wild one, with forecasters predicting an above-average 17 named storms sweeping out of the basin.

Biden Plan Targets Fossil Fuel Subsidies Worth $35B Share your comments
Thursday, April 08, 2021President Joe Biden's plan to eliminate subsidies claimed by oil and gas companies and raise levies on corporate polluters would increase government receipts by $35 billion over the coming decade.

India Prepares to Buy Iran Oil Once Sanctions Eased Share your comments
Thursday, April 08, 2021India's state-run oil refiners are ready to snap up Iranian crude the moment U.S. sanctions are eased, according to a government official.


READ MORE

Exploration

Baker Hughes USA Rig Count Rises Share your comments
Saturday, April 10, 2021The USA oil rig count held steady.

$370MM West Africa Contract Goes to Maersk Drilling Share your comments
Friday, April 09, 2021The contract secures the Maersk Venturer drillship for an estimated four years. PHOTO SOURCE: Maersk Drilling

Eni Makes New Light Oil Find Share your comments
Wednesday, April 07, 2021Eni (NYSE: E) has announced that it has made a new light oil discovery in Block 15/06 in Angola's deep offshore.

Baker Hughes Shows More Oil Rigs Share your comments
Saturday, April 03, 2021The U.S. rotary rig count increased by 13 this week, Baker Hughes Co. reported.

PTTEP Makes New Oil and Gas Find Share your comments
Tuesday, March 30, 2021PTT Exploration and Production Public Company Limited (PTTEP) has announced a new oil and gas discovery from exploration well Sirung-1 in Block SK405B offshore Malaysia.

$110MM in Onshore Work Goes to KCA Deutag Share your comments
Tuesday, March 30, 2021KCA Deutag's Land Drilling unit has won approximately $110 million in new business. PHOTO SOURCE: KCA Deutag

Aker BP Contracts Maersk Drilling Rig Share your comments
Tuesday, March 30, 2021Maersk Reacher will be reactivated under the firm 9-month contract. PHOTO SOURCE: Maersk Drilling


READ MORE

Production

Ithaca Sanctions Captain EOR Stage 2 Share your comments
Friday, April 09, 2021Ithaca Energy has announced the sanction of the Captain Enhanced Oil Recovery Stage 2 project in the UK Central North Sea.

This Is What Shale Growth Will Hinge On Share your comments
Friday, April 09, 2021The next few years of oil and gas production growth in the U.S. will hinge on this, according to GlobalData.

Scottish Oil and Gas Production Decreases Share your comments
Tuesday, April 06, 2021Oil and gas production in Scotland decreased from 2018 to 2019, according to new statistics announced recently by Scotland's chief statistician.

Petronas Myanmar Sub Declares Field Force Majeure Share your comments
Monday, April 05, 2021Petronas has revealed that its subsidiary, PC Myanmar (Hong Kong) Limited, has declared force majeure on its Yetagun field, located offshore Myanmar.

OPEC+ Plans Gradual Output Boost Share your comments
Thursday, April 01, 2021OPEC+ agreed to increase oil production gradually from May to July.

Petronas Unit Awards Celtic Sea Decom Contract Share your comments
Thursday, April 01, 2021A unit of Petronas has awarded HydraWell a multi-year contract to support a decommissioning project. PHOTO SOURCE: HydraWell


READ MORE

Finance and Investing

Petrofac Agrees $700MM Facility Extensions Share your comments
Thursday, April 08, 2021Petrofac announced Wednesday that it has extended $700 million of its banking facilities, at its request, with the unanimous support of lenders.

Shell to Make First Oil Output Profit Since Pandemic Share your comments
Wednesday, April 07, 2021Royal Dutch Shell Plc said it expects to make the first profit from pumping oil since the start of the pandemic.

BP Reaches Debt Goal Early Share your comments
Tuesday, April 06, 2021BP Plc said it already achieved its $35 billion net-debt target, reaching the threshold at which it has said it can restart share buybacks about a year earlier than expected.

Aramco Up as Saudis Prioritize Spend Over Dividend Share your comments
Wednesday, March 31, 2021Saudi Aramco rose the most in 10 months in Riyadh trading after the government allowed it to cut dividends and redirect the cash into new investments to fulfill the crown prince's economic plans.

California Driller Reaped Gains from Texas Freeze Share your comments
Friday, March 19, 2021California's largest oil producer emerged as the latest financial winner from last month's historic Texas freeze that left millions without heat or electricity for days.

McDermott Invests in Lummus Technology Share your comments
Wednesday, March 10, 2021McDermott International Ltd has announced that it has invested in Lummus Technology Holdings I LLC, which is a holding company of Lummus Technology.


READ MORE

Company Operations

Hess Sells Bakken Stakes Share your comments
Friday, April 09, 2021Hess Corporation (NYSE: HES) has entered into an agreement to sell its Little Knife and Murphy Creek acreage interests in the Bakken.

Scottish Oil Startup Expanding Share your comments
Thursday, April 08, 2021Aberdeenshire based startup Legasea has announced that it has begun 2021 with its strongest quarter to date and revealed that expansion is underway at the company.

Halliburton and Optime Subsea Form Global Alliance Share your comments
Thursday, April 08, 2021Halliburton Company (NYSE: HAL) and Optime Subsea have announced that they have formed a global strategic alliance.

Mexico Official Claims Fuel Retailers Are Pocketing Subsidies Share your comments
Wednesday, April 07, 2021Mexico is proposing changes to the country's fuel laws and will review permits issued to retailers.

Oman Is Said to Study Strategic Options for OQ Share your comments
Wednesday, April 07, 2021Oman is studying options for state energy company OQ SAOC, including a potential initial public offering, as the Persian Gulf sultanate seeks to shore up its finances, people with knowledge of the matter said.

Maersk Drilling Nets Shell Deal Share your comments
Wednesday, April 07, 2021Maersk Drilling has secured a contract with Shell Malaysia for the Maersk Viking drillship to drill four development wells at the Gumusut-Kakap project offshore Malaysia.


READ MORE