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MILAN, Italy -- Eni, following its participation in the competitive International Bid Round launched by the Republic of the Union of Myanmar, signed in Nay Pyi Taw in presence of the country’s Energy Ministry, two Production Sharing Contracts (PSC) for RSF-5 and PSC-K onshore blocks.
HOUSTON -- Landmark Software and Services, a Halliburton business line, has acquired Neftex Petroleum Consultants Limited, a UK-based company specializing in sequence stratigraphy-based products and consulting for subsurface risk reduction. The Neftex Earth Model integrates millions of data points to deliver a global overview of the geological history and resource development of the earth.
CALGARY, Alberta (Bloomberg) -- Suncor Energy’s spending on scaling back its Joslyn oil-sands mining project led Canada’s largest oil producer to post a 69% profit slump to the lowest in six quarters.
OKLAHOMA CITY, Oklahoma (Bloomberg) -- Chesapeake Energy Corp., the U.S. natural gas producer that almost ran out of money last year, is spending $1.71 billion to expand access to oil-soaked shale in Wyoming and buy back preferred shares that were a drain on cash. Chesapeake will repurchase $1.26 billion of preferred shares of its CHK Utica unit that burned through $75 million a year in dividends, enough to drill more than a dozen shale wells, the Oklahoma City-based company said in a statement.
Sound Oil confirms first gas delivered from Casa Tiberi LEATHERHEAD, Surrey Sound Oil, reported that first gas was delivered from the onshore Casa Tiberi field, located in the Marche Region of Italy, to the local gas distributor on 28 July
DENVER and HOUSTON -- Oil production from shale formations in North Dakota and Texas increased by more than 33% in June, according to Bentek Energy, an analytics and forecasting unit of Platts.
UK opens bidding for new round of shale gas exploration ROBERT HUTTON LONDON (Bloomberg) The UK will begin the bidding process on July 28 for the next set of onshore oil and gas exploration licenses, including shale gas, which is
NEW YORK -- Trilantic Capital Partners, a global private equity firm, and Ward Petroleum Corporation have announced their partnership in a newly formed oil and gas exploration and production company, Ward Energy Partners (WEP). WEP will focus operations in various basins in Oklahoma and Eastern Colorado
Gazprom Neft starts deliveries to oil reservoirs from Iraq' s Badra field MOSCOW -- Gazprom Neft, the operator of the Badra oil field in Iraq, has announced that deliveries of crude oil have started from the field to reservoirs of the Central Gathering Point (CGP). Two wells are currently producing oil at the deposi
BUENOS AIRES (Bloomberg) -- YPF SA said a one-day strike by 23,000 workers in the oil-and-gas-rich Neuquen basin in Argentina will cost the state-owned oil producer as much as $12 million. The workers are planning another strike next week that will be twice as long.
LONDON -- Northern Petroleum has been awarded two permits in Italy. One permit, Cascina Alberto, is onshore in the Po Valley and the other, C.R149.NP, is offshore in the Sicily Channel adjacent to the Northern Petroleum operated permit C.R146.NP.
Freeport plans $5 bn in energy sales for deepwater growth LIEZEL HILL PHOENIX, Arizona (Bloomberg) Freeport McMoRan Inc, a metals producer that diversified into energy last year, will expand sales of onshore assets to reduce debt as it focuses on
WASHINGTON, D.C. (Bloomberg) -- The Obama administration proposed phasing out older tank cars tied to a deadly derailment a year ago and lowering speed limits as part of a set of new rules intended to reduce the risks of hauling crude oil. The proposal, which follows a series of fiery accidents, also will require improved braking systems and testing of crude oil before being loaded, according to a Transportation Department statement on July 23. The rule applies to shipments of corn-based ethanol as well as oil.
CAPE TOWN, South Africa (Bloomberg) -- A South African environmental group renewed its call for a moratorium on shale-gas fracing, as the government moves closer to a decision on whether to allow the process opponents say imperils water quality.
MIDLAND, Texas (Bloomberg) -- Traders are turning to trains and trucks to clear a glut of crude in West Texas that’s threatening to keep prices in the largest U.S. oil basin depressed for months.
HOUSTON (Bloomberg) -- Halliburton Co. expects continued improvement in the North American hydraulic fracturing market and is “immediately” adding crews to begin work later this year. The world’s largest provider of the service that blasts water, sand and chemicals underground to free trapped hydrocarbons, expects third-quarter operating profit margins in the region to be near 20%, the company said in a statement. Second-quarter earnings were 32% above the results from the same period last year. Sales climbed 10% to $8.1 billion.
LONDON (Bloomberg) -- Shale gas exploration in the UK lacks adequate regulation to protect public health and the environment, according to a report by scientists. Exploitation of the resource may also undermine efforts to tackle climate change, according to the document published by the Scientists for Global Responsibility and the Chartered Institute of Environmental Health.
HOUSTON (Bloomberg) -- Kinder Morgan Energy Partners LP is asking Canadian regulators to intervene to allow it to study land in Burnaby, British Columbia, where it faces opposition to the C$5.4 billion ($5 billion) expansion of its Trans Mountain oil pipeline.
KATY, Texas -- With officials of the state of Texas examining the environmental impact of drilling operations, oil and gas companies are eagerly looking for new ways to make their drilling operations and consequent waste disposal more environmentally acceptable. New attention is being focused on potential contamination from drill cuttings and the oil-based drilling fluids that convey them.
DENVER, Colorado (Bloomberg) -- Colorado Governor John Hickenlooper and business leaders vowed to do “whatever it takes” to defeat initiatives proposed for the fall ballot that would restrict oil and gas drilling generating $30 billion a year for the state economy.
OSIJEK, Croatia (Bloomberg) -- Croatia started a tender for onshore hydrocarbon exploration to boost investments and reduce dependence on gas imports from Russia and other countries. This is the first of three continental tenders planned that will cover a total of six research blocks, each between 2.1 sq km (0.8 sq mi) to 2.6 sq km, along Drava and Sava rivers, Economy Minister Ivan Vrdoljak told reporters in Osijek, eastern Croatia. The tender will close on Feb. 18.
ERBIL, Kurdistan (Bloomberg) -- As modern Iraq collapses, the northern region of Kurdistan is emerging as an oasis of relative calm -- with plenty of oil to support its political ambitions for independence. With the advance of Islamist rebels deep into Iraq, autonomous Kurdistan is increasingly rejecting Baghdad’s claims over its oil. Last week Kurdish leader Massoud Barzani seized control of fields near Kirkuk, in the latest move by Kurdistan to assert control over the region’s oil.
DENVER, Colorado (Bloomberg) -- Colorado Governor John Hickenlooper said he doesn’t have enough votes to pass legislation allowing more community control over oil and gas drilling, paving the way for a fight on the November ballot that is expected to be the most expensive in the state’s history.
THE WOODLANDS, Texas (Bloomberg) -- Anadarko Petroleum Corp., the explorer that owns 8 million acres of mineral rights in the Rocky Mountains, said the holdings are accelerating beyond last year’s $675 million revenue boost. The disclosure has encouraged investors who want The Woodlands, Texas-based company to sell some interest in the land or find a way to more fully recognize its value, said Fadel Gheit, an analyst with Oppenheimer & Co. in New York.
Petsec Energy commences production from onshore Louisiana gas discovery SYDNEY Petsec Energy reported that its recent gas discovery the Adeline Sugar Factory (ASF) No. 4 well which reached a total depth of 15,300’ on 9 May 2014, commenced production on
WASHINGTON, D.C. (Bloomberg) -- Record natural gas production from the Marcellus shale deposit in the Northeast is helping send U.S. output to an all-time high, as hydraulic fracturing and horizontal drilling unlocked underground supplies. Gross output from the region will average 15.235 Bcf/d this month, up 28% from a year earlier, and 15.482 billion in August, the U.S. Energy Information Administration said July 14 in a monthly report. Marcellus gas accounts for about 16% of gross U.S. production, up from 2% in 2008.
LONDON -- International software firm 8over8 Ltd. has launched ProCon 2014, the latest release of its flagship contractual risk management solution. ProCon 2014 enables owner-operators of large capital projects to establish a commercial firewall against value leakage from mismanagement of unforeseen change orders, missed contractual obligations and poor interface management of the portfolio of capital project contracts.
HOUSTON – MicroSeismic has been awarded a large contract for hydraulic fracture monitoring services for RSP Permian. MicroSeismic will provide its integrated analysis and technology for combined acquisition services of surface and downhole in the Midland basin.
BISMARCK, North Dakota (Bloomberg) -- North Dakota, the second-largest oil-producing state in the U.S., expects output to surge through the summer as more benign weather gives roughnecks extra time to work in the field. Output rose about 3.6% to 1.04 MMbpd in May, the state’s Department of Mineral Resources reported. It was the largest increase since August.
BISMARCK, North Dakota(Bloomberg) -- North Dakota, the second-largest oil-producing state in the U.S., saw output rise the most in nine months in May. Output increased to 1,039,635 bpd in May, the state’s Department of Mineral Resources reported. It increased by 36,379 bpd from April, the largest month-to-month jump since August. Texas, which extracts more than 3 MMbpd, is the only state producing more crude.
Older tank cars to be phased out under oil, rail industry offer JIM SNYDER and THOMAS BLACK WASHINGTON D.C. (Bloomberg) Oil companies and railroads that move crude have presented a joint plan to U.S. regulators that would phase out a
BEIJING (Bloomberg) -- PetroChina Co. is committed to completing its C$1.32 billion ($1.23 billion) purchase of the stake it doesn’t own in the Dover oil-sands project in Canada soon, according to the Beijing-based company’s parent. PetroChina, China’s biggest oil and natural gas producer, is working with Calgary-based Athabasca Oil Corp. to close the purchase of Athabasca’s 40% stake in Dover, Chen Shudong, the incoming director for China National Petroleum Corp.’s Canadian unit, said in an email. The two energy producers formed a JV in 2010 to develop Dover.
DENVER, Colorado (Bloomberg) -- Whiting Petroleum Corp.’s $3.8 billion purchase of Kodiak Oil & Gas Corp. will create the dominant crude-oil producer in the richest U.S. shale region as energy explorers seek access to future drilling opportunities.
CALGARY, Alberta (Bloomberg) -- Athabasca Oil Corp., the oil-sands developer in a partnership with PetroChina Co., fell to the lowest since January as it awaits a C$1.32 billion ($1.23 billion) payment from the Chinese company expected last month.
HOUSTON (Bloomberg) -- Rigs targeting oil in the U.S. hit a record for the fifth straight week as companies ramped up drilling in shale formations across the South. Oil rigs increased by one to 1,563, the most since Baker Hughes Inc. separated its oil and gas counts in 1987, the company’s website showed. They rose the most in the Granite Wash shale formation of Texas and Oklahoma and the Eagle Ford in South Texas. The gas count was unchanged at 311, the Houston-based field services company said.
DUBLIN, Ireland (Bloomberg) -- Falcon Oil & Gas Ltd. expects to be awarded a permit to start exploration at its shale plot in the Karoo basin in South Africa in the second half of the year after technical regulations are published. “Our focus will be South Africa over the next 12 months,” CEO Philip O’Quigley said in an interview. The Dublin-based company, which signed a five-year exclusive co-operation agreement with Chevron Corp. in 2012, may sell a stake in the asset following the approval.
MEXICO CITY (Bloomberg) -- Petroleos Mexicanos, the country’s largest bond issuer, may sell more debt to fund JVs as the government ends its 75-year monopoly on oil production. Pemex has identified potential partners and plans to move “very fast” in establishing JVs after additional industry reform legislation is approved, CFO Mario Beauregard said July 9 in an interview in Mexico City. Financing to assist with projects in deep water and output from shale formations may be funded by increasing the company’s bond sales, which will total $10 billion this year, he said.
WASHINGTON, D.C. (Bloomberg) -- The oil industry’s largest lobbying group began a new effort to ease public fears about hydraulic fracturing after a legal setback in New York state and a voter push in Colorado to ban the drilling practice. The American Petroleum Institute released guidelines for improving community relations as fracing extends to more towns, raising concerns about pollution risks.
SUGAR LAND, Texas -- The Research Partnership to Secure Energy for America (RPSEA) announced that its board of directors has appointed James M. Pappas, P.E., to the position of acting president, effective June 1. The appointment follows the resignation of Dr. Robert W. Siegfried II.
OKLAHOMA CITY, Oklahoma (Bloomberg) -- Squinting into a laptop perched on the back of his pickup, Austin Holland searches for a signal from a coffee-can-sized sensor buried under the grassy prairie. Holland, Oklahoma’s seismology chief, is determined to find the cause of an unprecedented earthquake epidemic in the state. And he suspects pumping wastewater from oil and gas drilling back into the Earth has a lot to do with it.
BERLIN (Bloomberg) -- Germany plans to adopt regulation that will rule out shale fracing for the foreseeable future. The government wants to ban hydraulic fracturing in shale rocks and coal beds at depths less than 3 km (1.8 miles) and prohibit all types of fracing in water protection areas, Economy Minister Sigmar Gabriel and Environment Minister Barbara Hendricks said today, July 4. The government will start drafting legislation and seek to adopt it in the second half, Hendricks told reporters today in Berlin. The rules will be re-evaluated in 2021.
NEW YORK (Bloomberg) -- Four wastewater wells used in oil and natural gas drilling may be responsible for triggering 20% of all earthquakes in the central and eastern U.S. from 2008 to 2013, according to a study published in the journal Science. The wells are used to dispose of high volumes of wastewater released from underground rocks when they are fractured using modern oil-drilling techniques. The four wells are likely responsible for a dramatic rise in earthquakes near Oklahoma City since 2009, according to the research.
LONDON (Bloomberg) -- Genel Energy Plc, the oil explorer headed by former BP Plc CEO Tony Hayward, said production jumped in June after Iraq’s Kurdistan region opened an export pipeline to Turkey. Net production averaged 84,000 bpd in June compared with a 63,000 bpd rate for the whole of the first half, the company said in a statement.
SANTIAGO, Chile -- GeoPark Limited has announced the discovery of a new oil field in Chile. The Primavera Sur 1 well marks the first discovery of an oil field on the newly-acquired Campanario Block in Tierra del Fuego, Chile. GeoPark operates and has a 50% working interest in the Campanario Block, in partnership with Empresa Nacional de Petroleo de Chile (ENAP).
LEIDSCHENDAM, The Netherlands -- Fugro has completed the acquisition of the Geofor Group based in Libreville (Gabon), Douala (Cameroon), Pointe Noire (Republic of Congo) and São Tomé City (São Tomé) to strengthen its presence in the Central Africa region and the French speaking African countries. In addition to its longer established offices, Geofor has significant working experience in Niger, Chad and Equatorial Guinea.
BISMARCK, North Dakota -- (Bloomberg) -- North Dakota, the second-largest U.S. oil-producing state amid booming output from shale, plans to punish crude explorers that fail to curtail the burning of natural gas as waste.
TOKYO, Japan – The INPEX-operated Ichthys LNG Project is preparing for the next phase of its onshore construction effort, following the unloading of its first large pre-fabricated modules on June 29. The modules will be used to construct the Project’s LNG processing facilities at Bladin Point near Darwin, Australia.
OKLAHOMA CITY, Oklahoma -- Chesapeake Energy Corporation has completed the spin-off of its oilfield services business, previously conducted through Chesapeake Oilfield Operating, L.L.C., into a stand-alone, publicly traded company called Seventy Seven Energy Inc.
ERBIL, Kurdistan (Bloomberg) -- Iraq’s semi-autonomous Kurds plan a referendum for independence and will keep troops in the nearby oil hub of Kirkuk until people there can vote on whether to join the Kurdish enclave, a regional government spokesman said. “As a people, we have the right to be independent, but the issue is up to the Kurdish people, to be decided upon via a referendum,” Safeen Dizayee, spokesman of the Kurdistan Regional Government, said in an interview in the city of Erbil.
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