Oil & Gas News

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Offshore Service Spending to Outpace Onshore Shale

Industry Headlines

US Will Likely Grant Fewer Waivers in May
Thursday, January 17, 2019 The United States will likely grant fewer waivers to buyers of Iranian oil when they're up for renewal in May, according to IHS Markit.

Oil Retreats Near $52
Thursday, January 17, 2019 Oil retreated near $52 a barrel as investors assessed surging U.S. production against output curbs pledged by some of the world's top suppliers.

Oil Futures Edge Upward
Wednesday, January 16, 2019 Despite cold temps in much of the US, natural gas is down again.

Survey: Oil and Gas Hiring in Houston Flat in 2019
Wednesday, January 16, 2019 A survey of Houston energy executives, HR staff and hiring managers expect little to no change this year in regards to hiring and company growth.

Offshore Service Spending to Outpace Onshore Shale
Wednesday, January 16, 2019 Research from Rystad Energy reveals that we'll see spending in the offshore service sector outgrow spending on onshore shale this year.

Canadian Oil Grades Weaken
Wednesday, January 16, 2019 Prices for Canadian oil fell relative to U.S. futures as Alberta Premier Rachel Notley expressed hope her government would be able to back off mandatory production curtailments in April.

Oil Holds Gain Near $52
Wednesday, January 16, 2019 Oil held gains near $52 a barrel on optimism the OPEC+ coalition's production curbs will clear a supply glut.


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Exploration

Eni Secures Two Deals for Oman Blocks
Monday, January 14, 2019 Eni on Monday announced it had entered into agreements with BP and Oman Oil Company Exploration and Production for two blocks in Oman.

Aker Bullish on Offshore Ghana
Friday, January 11, 2019 Phased development could deploy several production units, says CEO.

BP Plans to Drill 6 More Wells in Azerbaijan
Thursday, January 10, 2019 BP and its partners just spent $28 billion bringing a giant natural gas project in Azerbaijan online, and that may only be the start.

Venezuela Will Remap its Caribbean Oil, Gas Prospects
Wednesday, January 09, 2019 Venezuela will remap its Caribbean oil and gas prospects.

North Sea Exploration is Back
Tuesday, January 08, 2019 North Sea exploration is back in 2019, according to Wood Mackenzie.

Offshore Guyana Wildcat Spuds
Monday, January 07, 2019 A Stena drillship has begun drilling the Haimara-1 exploration well.


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Production

Largest Licensing Award on NCS
Wednesday, January 16, 2019 The Norwegian Ministry of Petroleum and Energy has offered 83 production licenses on the Norwegian Continental Shelf as part of its latest APA round.

2019 US Oil Output to Average 12MM Barrels Per Day
Wednesday, January 16, 2019 U.S. crude oil production will average 12.1 million barrels per day in 2019, according to the EIA's latest short-term energy outlook.

Norway Cuts Production Forecast to Lowest in 30 Years
Thursday, January 10, 2019 Norway's oil regulator reduced its forecast for production this year.

Saudi Arabia Boosts Reserves Ahead of Aramco's IPO
Wednesday, January 09, 2019 Saudi Arabia published the first audit of its vast oil reserves since it nationalized its energy industry about 40 years ago.

Texas Oil and Gas Production Increases with Stalled Job Growth
Wednesday, January 09, 2019 A report from TIPRO shows that Texas crude oil and natural gas production in 2018 continued to rise despite job growth being flat in November.

GOM Subsea Contract Goes to TechnipFMC
Wednesday, January 09, 2019 BP and BHP's deepwater Atlantis field is located approximately 150 miles south of New Orleans.


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Finance and Investing

Chesapeake Surges After Director Buys Shares
Wednesday, December 26, 2018 Chesapeake shares rose the most since February.

Hess Market Cap Plunges $1.5B
Monday, December 24, 2018 Hess tumbled the most in almost three years, wiping out $1.5 billion in market valuation.

South Sudan Sees $2B Investment as Start, Expects More in 2019
Wednesday, December 19, 2018 Recent pledges of $2 billion in investment for South Sudan's oil may be just the start, its petroleum minister says.

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.


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Company Operations

Husky Ends MEG Takeover Bid
Thursday, January 17, 2019 Husky Energy abandons its hostile bid to acquire MEG Energy Corp after failing to win support from shareholders and the board of the rival oil-sands producer.

Shell Appoints New Upstream Director
Thursday, January 17, 2019 Royal Dutch Shell plc has appointed Wael Sawan as its new upstream director.

Atlas Professionals Buys Brander
Wednesday, January 16, 2019 Energy recruitment specialist Atlas Professionals acquires technical recruitment company Brander.

Ophir Energy's Board Rejects Medco's Takeover Proposal
Tuesday, January 15, 2019 Ophir's board unanimously rejected the proposal, saying it's undervaluing Ophir.

Halliburton Names New Western Hemisphere President
Tuesday, January 15, 2019 The oil services giant has promoted Mark Richard as president for the Western Hemisphere.

UK-Based Energy Services Firm Changes Name
Tuesday, January 15, 2019 Fabricom Offshore Services has announced the launch of a new name and corporate identity.

WildHorse to Lay Off Staff After Chesapeake Acquisition
Monday, January 14, 2019 WildHorse Resources Management Company will permanently close its Houston office, resulting in almost 100 layoffs.

Chevron Capex Highlights Permian
Monday, January 14, 2019 Chevron's capital budget underscores the importance of shale, particularly in the Permian Basin.


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