Archive for the ‘Category’ Category
Equinor 36/1-3 wildcat off Norway is dry
April 3rd, 2019 by Latest News
The Equinor 36/1-3 wildcat on production license 885 in the Northern North Sea was dry, reports partner Cairn Energy PLC. The Transocean Spitsbergen semisubmersible drilled the well to 2,873 m below sea surface in 230 m of water 15 km east of a gas dis…
Eni reports record oil production for 2018
February 15th, 2019 by Latest News
Eni SPA said it achieved record production of 1.85 million b/d during 2018, up by 2.5% from 2017, while its proved reserves replacement ratio again rose above 100% for a 3-year average of 131%, the company said in an earnings statement.
MARKET WATCH: Crude oil benchmarks continue gaining on production cuts
January 11th, 2019 by Latest News
The light, sweet crude oil price for February rose for a ninth consecutive day on Jan 10, settling above $52/bbl. That was a 4-week high on the New York futures market and the longest gain in 9 years, which analysts attributed to lessening concerns abo…
The US drilling rig count is up 14 units to 1,081 rigs working for the week ended Nov. 9, according to Baker Hughes data. The count is up 174 units from the 907 rigs working this time a year ago. At 1,057 rigs working, 11 more units were drilling on la…
PXP Energy Corp. said the force majeure has been lifted from Peru’s Block Z-38 following recent changes in that country’s hydrocarbon law. The offshore block is in the Tumbes basin. The disclosure came in a PXP statement that cited a corporate update f…
Magellan Pipeline Co. LP settled federal charges that it violated the federal Clean Water Act in gasoline, diesel, and jet fuel spills in Texas City, Tex.; Nemaha, Neb.; and El Dorado, Kan., the US Department of Justice and Environmental Protection Age…
Royal Dutch Shell PLC has completed the previously announced sale of nearly all its interest in Japanese refiner Showa Shell Sekiyu KK as part of the company’s ongoing strategy to reduce its downstream refining assets.
US rig count hits all-time low in recorded data
March 11th, 2016 by Latest News
The overall weekly US rig count is now at its lowest point in Baker Hughes Inc. data that begins in the 1940s, and perhaps since the infancy of US oil and gas industry in the mid-19th century.
Deloitte: Global oil, gas M&A activity in 2015 dipped below that of Great Recession
January 26th, 2016 by Latest News
Despite prognostications of constrained capital and distressed asset sales during the year, global oil and gas mergers and acquisitions declined sharply in 2015 compared with activity in 2014, according to a report from Deloitte LLP.