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Low oil prices are painful, but volatility sucks

As if the recent oil price dive to the lowest level in six years wasn't enough to keep industry nerves on edge, the current price volatility is proving just as hostile to producers as sliding margins. After bottoming out in late January at $45/b, NYMEX crude had recove ...
North America | Thursday, September 3, 2015

Exploration in the UKCS: Pushing the Limit

Motivation Exploration activity in the UK Continental Shelf (UKCS) has been declining steadily since 2008. In 2014, just 14 exploration wells were drilled which is the lowest number since the beginning of the industry in the 1960s. The expectation is that exploration a ...
West Europe | Thursday, September 3, 2015

Mosman Oil and Gas signs sale and purchase agreement to acquire producing New Zealand oil and gas assets

Mosman Oil and Gas Limited (AIM: MSMN) the New Zealand and Australia focussed oil exploration and development company, has today executed a conditional sale and purchase agreement to acquire onshore NZ producing oil and gas assets for NZ$10 million (approximately £ ...
Australasia | Thursday, September 3, 2015

Wednesday, September 2, 2015

Discussing the costs of disaster for offshore US oil : Regulation and Environment

In this week's Oilgram News column, Regulation and Environment, Gary Gentile asks if the risks associated with ultra-deepwater oil production endeavors are properly disclosed to shareholders. Opponents of offshore drilling in frontier environments, such as the Arctic, h ...
North America | Wednesday, September 2, 2015

It's Insane But Why Not? Oil Back at $100 By Christmas

ALBERT Einstein is widely credited with saying this: 'The definition of insanity is doing the same thing over and over again, but expecting different results'. Who cares if it is either paraphrased or he didn't even say it at all? This is a fantastic quote. For me, wha ...
North America | Wednesday, September 2, 2015

Effect of removing U.S. crude export restrictions depends on price and resource assumption

A new study by the U.S. Energy Information Administration (EIA) on the potential implications of allowing more crude oil exports finds that effects on domestic crude oil production are key to determining the other effects of a policy change. Gasoline prices would be ei ...
North America | Wednesday, September 2, 2015

Prospect of new pipeline capacity in Louisiana rattles rail, barge operators

Louisiana could be the site of the next wave of pipeline expansions, which might be a boon for refiners there, but other midstream players could find themselves on the outside looking in, depending on the origin of the crude on the lines. Southern Louisiana has long be ...
North America | Wednesday, September 2, 2015

Bilfinger awarded five year TAQA contract

Bilfinger Salamis UK, provider of asset life extension services, has been awarded a five year contract, with two one-year extension options, for international energy company TAQA for its oil and gas operations in the UK North Sea. Under the contract Bilfinger Salamis U ...
West Europe | Wednesday, September 2, 2015

Northern Frontier Corp. announces acquisition of SL Oilfield Construction Ltd.

Northern Frontier Corp. (TSX VENTURE:FFF) is pleased to announce that it has agreed to acquire SL Oilfield Construction Ltd., an oilfield construction service provider based in Whitecourt, Alberta. SL Oilfield's business is providing road and land preparation and reclam ...
North America | Wednesday, September 2, 2015

Clean Energy no longer just for tree-huggers, as oil nations look to renewables

As the oil price further deteriorates, major oil-producing countries are looking to the future and to sustainability. Recently, Bloomberg forecast that two-thirds of the $12.2 trillion global investment in capacity-generation to 2040 will be in the renewables sector - a ...
West Europe | Wednesday, September 2, 2015

WPX Energy sells Powder River Basin assets

WPX Energy (NYSE: WPX) has completed the divestiture of its remaining mature coalbed methane properties in Wyoming's Powder River Basin and scheduled a related sale of its membership interest in Fort Union Gas Gathering L.L.C. to close in November. The buyer is Moriah ...
North America | Wednesday, September 2, 2015

Aker Solutions announces further workforce reductions; 500 permanent positions in Norwegian subsea business lost

Aker Solutions yesterday notified employees that it has become necessary to reduce the workforce capacity in its Norwegian subsea business because of a continued market slowdown. About 500 permanent positions at facilities in Fornebu, Stokke, Moss and Tranby in Norway ...
West Europe | Wednesday, September 2, 2015

Oil price, Velocys, Empyrean, And finally...

Oil price After a rise of nearly 30% it was inevitable that the oil price would come off and the data available was all a bit negative. The Chinese number was already in the price yesterday but the US data was also not up to best expectations. The US numbers that the o ...
West Europe | Wednesday, September 2, 2015

Xodus Group awarded North Sea decomissioning FEED contract with Nexen

Xodus Group has been awarded a contract with Nexen Petroleum U.K. Limited to provide Front End Engineering and Design (FEED) services in support of the decommissioning of the Ettrick and Blackbird fields in the central North Sea. The workscope will assess the best prac ...
West Europe | Wednesday, September 2, 2015

Keith Schaefer Picks the Companies You Will Want to Own If the Conservatives Win in Canada

Canadian natural gas prices have held up so well that the majors are taking strategic positions to prepare for an eventual demand spike. But the paydays could be delayed depending on the outcome of the Canadian federal election on Oct. 19. In this interview with The Ene ...
North America | Wednesday, September 2, 2015

Otto Energy - Hawkeye-1 uncommercial

The Hawkeye-1 well has been completed and declared uncommercial. While encountering hydrocarbons, the volumes were at the very low end of expectations and were mostly water wet. The results will be built into the SC55 model and next moves there are being considered. Ott ...
Asia Far East | Wednesday, September 2, 2015
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