Oil & Gas News

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OPEC+ Agrees to New Deal That Leaves Oil Supply Barely Changed

Industry Headlines

Oil Sputters After OPEC+ Fails to Pin Down Details
Friday, December 06, 2019 Oil sputtered as the OPEC+ coalition failed to pin down the details of an agreement to adjust its official output target even after six hours of talks in Vienna.

Oil Prices Lackluster Amid Wait on OPEC+
Thursday, December 05, 2019 Brent crude oil futures showed a meager gain Thursday, and West Texas Intermediate (WTI) posted no gain at all.

OPEC+ Agrees to New Deal That Leaves Oil Supply Barely Changed
Thursday, December 05, 2019 OPEC reached an agreement that adjusts its official production targets, but removes few barrels from a market that's forecast to return to surplus early next year.

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Wood Offshore Crew Spreads Christmas Cheer
By Wood Wood's Red 1 crew's offshore giving initiative does good onshore.

Shale Frac Spread Rebound Hopes Fade
Thursday, December 05, 2019 A seasonal increase in the number of US shale basin-based frac spreads has not materialized.

Saudis Offer OPEC+ Quid Pro Quo
Thursday, December 05, 2019 Saudi Arabia is offering fellow OPEC+ members a quid pro quo - If you stop cheating, we'll curb production.

FSMR Sticks to Oil Price Forecast Again
Thursday, December 05, 2019 Fitch Solutions Macro Research has left its Brent crude price forecasts unchanged for the second time in a row.

Oil Holds Surge as Stockpiles Add to Trade Optimism
Thursday, December 05, 2019 Oil held its biggest surge in more than two months as signs of a potential U.S.-China deal and tightening American crude stockpiles bolstered prices ahead of the OPEC+ meeting.


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Exploration

TGS Starts Additional Montney Project
Thursday, December 05, 2019 TGS has started onshore seismic acquisition for an additional Montney basin 3D project in Canada.

Apache Tumbles on 'Incredibly Thin' Suriname Well Results
Monday, December 02, 2019 Apache Corp. plunges after the company's update on a closely watched exploratory oil well off the coast of Suriname offered little indication as to whether it will be commercially viable.

Equinor Moving Away From Frontier Exploration in Norway's Arctic
Tuesday, November 26, 2019 That means drilling near existing discoveries such as Johan Castberg and Wisting rather than riskier but potentially more rewarding targets.

Kosmos Completes US GOM Resolution Well
Tuesday, November 26, 2019 Kosmos Energy announced Tuesday that it has completed drilling the Resolution exploration well in the U.S. Gulf of Mexico.

Seadrill-Operated Rig Claims Low Emission Milestone
Monday, November 25, 2019 Pictured is North Drilling's Seadrill-operated West Mira semisub. PHOTO SOURCE: Wintershall Dea

Shearwater Gets Shell Black Sea Seismic Contract
Monday, November 25, 2019 Shearwater GeoServices Holding AS has been awarded a Black Sea 3D seismic acquisition contract by Royal Dutch Shell plc.


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Production

N. American Shale Primed for Growth Despite Possible Oil Price Declines
Thursday, December 05, 2019 The production outlook for North American shale will remain robust in coming years, despite a potential drop in oil prices, according to Rystad Energy.

EnQuest Gets Offshore Malaysia PSC
Wednesday, December 04, 2019 EnQuest has been awarded the Block PM409 Production Sharing Contract by Petronas.

US Solidifies Energy Producer Status
Monday, December 02, 2019 The U.S. solidified its status as an energy producer by posting the first full month as a net exporter of crude and petroleum products since government records began in 1949.

Brazil Aiming to Double its Oil Production
Friday, November 29, 2019 Future expansion depends on access to capital, high-end tech from foreign investors and big oil companies with deepwater and pre-salt expertise.

Key Libya Oil Field Resumes Output
Thursday, November 28, 2019 Libya restarted production at a key oil field after clashes between rival fighters forced a temporary halt.

Texas Wildcatters Scoff at Growth Predictions
Wednesday, November 27, 2019 Texas wildcatters are now saying global analysts are underestimating just how severe the industry's slowdown is.


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Finance and Investing

Aramco Raises $25.6B in World’s Biggest IPO
Friday, December 06, 2019 Saudi Aramco raised $25.6 billion from the world's biggest initial public offering.

Petrobras Plans $34B in Dividends by 2024
Thursday, December 05, 2019 Petrobras plans to pay its shareholders $34 billion in dividends over the next five years as it cuts debt and sells assets to shore up its finances.

Chesapeake Debt Deal Skirts Bankruptcy
Wednesday, December 04, 2019 Unfortunately, the move doesn't change the fundamental trajectory for the Oklahoma City-based shale producer.

Aramco Considers Pricing at Top
Wednesday, December 04, 2019 Saudi Aramco is considering pricing its initial public offering at the top end of a marketed range, people with knowledge of the matter said.

Aramco IPO Bids Reach $44.3B
Friday, November 29, 2019 Saudi Aramco's IPO has drawn total bids of 166 billion Saudi riyals ($44.3 billion) so far from institutional and retail investors.

Unpaid Bills in Mexico Oil Patch Add to Pemex Troubles
Tuesday, November 26, 2019 Pemex, facing pressure from the government to slow spending, has delayed some payments to contractors for as long as seven months.


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Company Operations

Tallgrass Names New President
Tuesday, December 03, 2019 Sheehy's previous tenure at Tallgrass extended from 2012 to early 2018.

Halliburton Shutters Oklahoma Office, Cuts 800 Jobs
Tuesday, December 03, 2019 The Houston-based oilfield services giant will be closing its office in El Reno, Oklahoma and laying off more than 800 employees.

Repsol Sets Net Zero Goal
Tuesday, December 03, 2019 Repsol revealed Monday that it aims to be a net zero emissions company by 2050.

New Subsea Era Could Begin with Power Tech
Tuesday, December 03, 2019 This rendering shows the layout of a subsea substation. IMAGE SOURCE: ABB

NOV, Pumpco Energy Services Cut Jobs in Texas
Monday, December 02, 2019 Two oilfield services companies have conducted layoffs in Texas, according to notices received by the Texas Workforce Commission.

Babcock Gets North Sea Aviation Support Contract
Friday, November 29, 2019 Babcock has secured a new three-year contract to provide Serica Energy with offshore helicopter crew transport services.


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