Oil & Gas News

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Risk of Further Saudi Attacks High

Industry Headlines

Oil Prices Up for the Week
Friday, September 20, 2019 An exciting week for WTI and Brent crude oil future has come to an end.

US Drillers Lose 18 Oil, Gas Rigs
Friday, September 20, 2019 The U.S. lost a net total of 18 oil and gas rigs this week.

Aramco Reveals Damage to Giant Oil Field
Friday, September 20, 2019 Saudi Aramco revealed damage caused by an aerial strike on its Khurais oil field last weekend.

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Volatile Market Expected to Continue in 2H
Friday, September 20, 2019 The oil and gas market is expected to continue to be volatile in the second half of 2019, Petronas notes.

Texas Coast Reels from Flooding
Friday, September 20, 2019 The remnants of Tropical Storm Imelda lashed Houston and coastal Texas, inundating homes, paralyzing travelers, disrupting oil supplies and threatening hospitals and refineries.

Risk of Further Saudi Attacks High
Friday, September 20, 2019 The risk of further high-impact attacks against Saudi energy infrastructure is high, according to Verisk Maplecroft.

Oil Rises as Tensions Ratchet Up
Friday, September 20, 2019 The threat of war in the Middle East is pushing oil prices higher again.

Oil Prices Finish Higher
Thursday, September 19, 2019 The WTI inched upward Thursday and the Brent posted a more robust gain.


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Exploration

BP and Exxon Make Green Canyon Deals with Talos
Thursday, September 19, 2019 Talos Energy has struck two separate agreements with BP and ExxonMobil tied to new exploration opportunities in the U.S. Gulf of Mexico.

Offshore Morocco License Goes to Europa
Wednesday, September 18, 2019 Europa Oil & Gas has secured the Inezgane license in the Agadir Basin offshore Morocco.

Offshore Guyana Twice as Nice for Tullow
Monday, September 16, 2019 Tullow and partners Total and Eco (Atlantic) have hit oil pay at Joe-1.

ExxonMobil Hits More Oil Pay Offshore Guyana
Monday, September 16, 2019 Tripletail is the 14th Stabroek Block discovery.

Mexico Extends Private Firm's Offshore Contract
Thursday, September 12, 2019 The Block 7 consortium has used the Ensco 8503 (now Valaris 8503) semisub in its appraisal drilling. PHOTO SOURCE: Talos Energy Inc.

Dems Seek to Block Oil Drilling Along US Coasts
Wednesday, September 11, 2019 The U.S. House of Representatives is set to vote Wednesday on two proposals for limiting drilling in U.S. coastal waters.


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Production

Permian Child Wells May Cut Oil Recovery By 20 Percent
Friday, September 20, 2019 Oil producers drilling so-called parent-child wells in the Permian Basin are risking the loss of 15% to 20% of the crude that can ultimately be recovered from those wells by spacing them too close together.

Chevron Okays GOM Waterflood
Thursday, September 19, 2019 Chevron Corp. reported Thursday that it has sanctioned a waterflood project in the St. Malo field, located in the Gulf of Mexico. PHOTO SOURCE: Business Wire

Clear Risk of Slower Saudi Output Restart
Thursday, September 19, 2019 There is clear risk of a slower restart of Saudi Arabian oil production despite the optimistic guidance by Saudi Aramco, according to Rystad Energy.

Equinor Brings Utgard Online
Wednesday, September 18, 2019 Equinor starts production from the Utgard gas and condensate field, which spans the Norway-UK border in the North Sea.

Saudi Output Restoration Calms Market Fears
Wednesday, September 18, 2019 Oil stabilized on signs Saudi Arabia is quickly restoring production following a debilitating weekend attack.

Global Gas Flaring Value Surpasses $16B
Tuesday, September 17, 2019 The value of natural gas flaring across the world has seen a substantial increase to hit a global peak of $16.4 billion this year, according to Scottish data analytics firm Brainnwave.

Offshore Egypt Field Starts Production
Tuesday, September 17, 2019 Eni reported that the Baltim South West gas field offshore Egypt has begun production in record time.


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Finance and Investing

McDermott Stock Collapses as it Aims to Improve Capital Structure
Wednesday, September 18, 2019 Oil and gas engineering firm McDermott International, Inc. saw its shares plummet by about 69 percent Wednesday afternoon.

Aramco Forges Ahead With IPO Work After Attacks
Monday, September 16, 2019 Despite recent facilities attacks, it's business as usual for the bankers hired to sell a piece of Saudi Aramco.

Aramco May Shun Direct IPO Sales to US Funds
Thursday, September 12, 2019 Saudi Aramco is considering a structure for its initial public offering that would prevent it from marketing the deal directly to fund managers in the U.S., people with knowledge of the matter said.

Pemex Gets $5B Boost from Government
Wednesday, September 11, 2019 Petroleos Mexicanos will use a new $5 billion capital injection from the Mexican government to improve the embattled state oil company's debt profile by lengthening maturities.

Pemex to Use Banks to Help Refinance $5B of Debt
Tuesday, September 10, 2019 Petroleos Mexicanos has lined up banks to help refinance at least $5 billion of bonds with longer-maturity debt as it works to bolster cash flow and boost oil production.

Aramco Lining Up Banks for IPO
Tuesday, September 10, 2019 State oil giant Saudi Aramco said it's lining up banks for its long-awaited initial public offering as the sale is now imminent.


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Company Operations

Petrofac Sells its Remaining Mexico Assets
Thursday, September 19, 2019 Petrofac exits its Mexico operations with a sale of its ownership in three fields to Perenco.

Imperial Oil Gets New Leader
Thursday, September 19, 2019 B.W. Corson will take on the role of chairman, president and CEO of Imperial Oil Limited on January 1, 2020.

Exxon Again Looks to Sell Australia Assets
Wednesday, September 18, 2019 Exxon Mobil Corp. is again trying to sell its oil and gas operations in southeast Australia as part of a move to shed assets and boost shareholder returns.

Weatherford and Aramco in 5-Year Procurement Deal
Wednesday, September 18, 2019 Weatherford signs a 5-year corporate procurement agreement with Saudi Aramco to deliver cementation, completions, liners, solid expandables and casing exit technologies.

Basic Energy Services CEO Resigns
Monday, September 16, 2019 Basic Energy Services CEO T.M. "Roe" Patterson is leaving the company after 14 years.

Noble CFO Resigns
Monday, September 16, 2019 Noble's senior vice president and chief financial officer has resigned.


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