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Friday, March 27, 2015

Halliburton and Baker Hughes announce approval of transaction by stockholders of both companies

Halliburton Company (NYSE:HAL) today announced that its stockholders approved Halliburton's proposal to issue shares of Halliburton common stock as contemplated by its merger agreement with Baker Hughes Incorporated (NYSE: BHI). In addition, Baker Hughes today announced ...
North America | Friday, March 27, 2015

Nigerian elections 2015: Oil, militancy and subsidies

On March 28, Africa's biggest economy and also the continent's largest oil producer, Nigeria, will go to the polls to elect its new president. In an ideal world, these elections should have taken place six weeks ago. But alas, Nigeria has experienced a tumultuous last ...
Africa | Friday, March 27, 2015

Cue Energy receives approval for farm-in to Mahato PSC Onshore Central Sumatra, Indonesia

Cue Energy Resources Limited (ASX:CUE) is pleased to announce receipt of government approval for the farm-in agreement with Bukit Energy Central Sumatra (Mahato) Pte Ltd to acquire a 12.5% participating interest in the Mahato Production Sharing Contract onshore Central ...
Asia Far East | Friday, March 27, 2015

Red Leaf Resources to accelerate commercial technology optimisation for the Early Production System, announces TomCo Energy

TomCo Energy plc today announces that further to the announcement of 5 February 2015 the Company's technology provider Red Leaf Resources Inc. has released an update as to the timing of construction for its Early Production System capsule. Red Leaf's announcement conta ...
North America | Friday, March 27, 2015

Oil price, Egdon/Europa/Union Jack, Parkmead, And finally...

Oil price It's all about the Yemen, as for the first time for a while a good old fashioned geo-political flare-up adds five bucks to the oil price. Indeed, at one stage yesterday Brent nearly negotiated $60 but came off at the end and today its $50 and $58 for the pair ...
West Europe | Friday, March 27, 2015

Sigma Cubed Inc. selected by Paltar Petroleum for multi-year development and operations services across 8.9 million acres of Australian oil and gas companies

Sigma Cubed Inc. (SIGMA3) was selected by Paltar Petroleum Limited to deliver multi-year, onsite project management, engineering and operations services covering 8.9 million acres of oil and gas prospects in the Northern Territory and Western Australia. SIGMA3 GeoEngine ...
Australasia | Friday, March 27, 2015


Helix Energy Solutions enters new multi-year contract with Shell

Helix Energy Solutions Group, Inc. (NYSE: HLX) announced today that it has entered into a new multi-year contract with Shell to provide well intervention services in the U.S. Gulf of Mexico utilizing Helix's Q4000. The Q4000 is a deepwater well intervention semisubmersi ...
North America | Friday, March 27, 2015

CNOOC Limited: exploration and development laid solid foundation lowering costs and enhancing efficiency program achieved outstanding results

CNOOC Limited (NYSE: CEO, SEHK: 00883, TSX: CNU) today announced its 2014 annual results for the year ended December 31, 2014. In 2014, the Company achieved various breakthroughs in exploration and the reserve replacement ratio for the year was 112%. Benefitting from t ...
Asia Far East | Friday, March 27, 2015

African Petroleum Corporation provides company update

African Petroleum, an independent oil and gas exploration company operating ten licences in five countries offshore West Africa, is pleased to provide the following update on its activities. Funding Update African Petroleum has successfully raised NOK 95,016,200 (appr ...
Africa | Friday, March 27, 2015

Oil Basins Limited and Backreef Oil settle out of court

Oil Basins Limited (ASX:OBL) advises as a mater of record that the Oil Basins Limited vs Backreef Oil Pty Ltd Magistrates Court PER/GCLM/18204/2014 was formally settled out of court late yesterday. OBL will receive within 5 days the full amount as claimed in the Company ...
Australasia | Friday, March 27, 2015

Chevron exits Nappamerri Trough Natural Gas project

Beach Energy Limited (ASX: BPT) has been advised by Chevron Exploration Australia 1 Pty Ltd that it will not participate in Stage 2 of the Nappamerri Trough Natural Gas project. Formal notification from Chevron is expected to follow shortly. Chevron informed Beach that ...
Australasia | Friday, March 27, 2015

With Expertise and a Little Luck, East West Petroleum Reels in Profits Despite Oil Price Plunge

Many oil companies have been devastated by the oil price debacle. East West Petroleum, on the other hand, is making money, pumping more oil and strengthening its cash balance. CEO David Sidoo tells The Energy Report how shrewd joint ventures and a firm commitment to low ...
North America | Friday, March 27, 2015

Chevron announces sale of interest in Caltex Australia

Chevron Corporation's (NYSE: CVX) wholly owned subsidiary Chevron Global Energy Inc. today announced that it has entered into an underwriting agreement for the sale of its 50 percent shareholding in Caltex Australia Limited (CAL). It is expected that these shares will ...
Australasia | Friday, March 27, 2015

PA Resources files for corporate reorganisation

As mentioned in the year-end report published 26 February 2015, PA Resources AB has for the past few months been in discussions with its creditors regarding a capital restructuring to establish a long term financing plan for the Company. During the course of this proces ...
West Europe | Friday, March 27, 2015

Thursday, March 26, 2015

Shell axes a further 250 jobs in the North Sea

Shell announced today that a further 250 jobs in the North Sea were to be terminated, and remaining staff face changes in existing shift patterns. Both staff and agency contractors are affected, and were made aware during a meeting today. Paul Goodfellow, Shell's Upst ...
West Europe | Thursday, March 26, 2015

Oil Prices in Saudi Arabia Hitting Stability: Will it Continue Any Further?

Saudi Arabia's oil minister is going ballistic with claims of oil prices stabilizing in the kingdom. Obviously, it hasn't stemmed out of suddenness. The air has been buzzing with reports of prices stabilizing at a figure of $60 a barrel, since December last year. Goes ...
Middle East | Thursday, March 26, 2015
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