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African Petroleum - Deep water West African explorer

African Petroleum (APCL) is a pure-play, offshore-focused explorer with 10 blocks across five countries on the West African transform margin. Significant discoveries in 2014 made by Cairn (with the SNE-1 and FAN-1 wells) and Total have significantly de-risked exploratio ...
Africa | Thursday, March 5, 2015

Low oil is here to stay

Oil prices had been artificially propped up by financial investors and government stimulus programmes. Now prices are returning to their historical averages, and are likely to stay that way. At long last, oil prices are returning to reality. There was never any real re ...
Asia Far East | Thursday, March 5, 2015

Oil production vital statistics: March 2015

This is the third in a monthly series of posts chronicling the action in the global oil market in 13 key charts. The February 2015 post is here. EIA oil price and Baker Hughes rig count charts are updated to end February 2015, the remaining oil production charts are upd ...
North America | Thursday, March 5, 2015

Low oil prices: don't eat the seed corn!

The old adage that 'necessity is the mother of invention' is proving true in the independent E&P oil sector. Faced with low oil prices, independent oil producers are introducing oil price 'optionality' into their crude oil sales contracts. Crude producers reeling from l ...
North America | Thursday, March 5, 2015

Wintershall takes over Vega operatorship from Statoil

Wintershall has taken over the operatorship of the subsea oil and gas field Vega from Statoil. Vega is the BASF subsidiary's first operated subsea tie-in field in Norway. With this transfer Wintershall now operates two production fields on the Norwegian Continental Shel ...
West Europe | Thursday, March 5, 2015

How the oil price drop is affecting the property in the top five emerging markets

Global oil prices have fallen sharply in recent months, putting pressure on energy-exporting countries that count on the commodity as their primary source of income. Between June and January, the price of crude oil dropped a staggering 60 percent. With industry experts ...
Middle East | Thursday, March 5, 2015

Otto Energy - All clear for Hawkeye well spud in Q3

Otto Energy (OEL) has announced a farm-out deal with independent E&P Red Emperor Resources (RMP) for a 15% working interest in the offshore Philippine block SC55. Otto is now fully funded to drill the Hawkeye-1 exploration well, has retained operator control and signifi ...
Asia Far East | Thursday, March 5, 2015

Woodside's proposed acquisition of Apache Corporation's interests in three projects will not be opposed by ACCC

The Australian Competition and Consumer Commission has announced that it will not oppose Woodside's (ASX: WPL) proposed acquisition of Apache Corporation's interests in the Wheatstone, Balnaves and Kitimat Projects. The Wheatstone and Balnaves Projects are located in th ...
Australasia | Thursday, March 5, 2015

Northern Petroleum signs Cascina Alberto farm-out agreement with Shell

Northern Petroleum, the AIM quoted oil company focusing on production led growth, announces that its wholly owned subsidiary, Northern Petroleum (UK) Limited, has signed a farm out agreement, which includes the agreed terms of a joint operating agreement, with Shell Ita ...
East Europe | Thursday, March 5, 2015

Wednesday, March 4, 2015

Eneabba to expand Perth Basin portfolio

Eneabba Gas Limited is pleased to announce that it has entered into a binding Heads of Agreement) with Greenpower Energy Limited (ASX:GPP) for an option to acquire 100% of the issued capital of Greenpower's wholly owned subsidiary, GCC Methane Pty Ltd. GCC owns a 50% in ...
Australasia | Wednesday, March 4, 2015

Virginia Hills Oil Corp. proposes acquisition of private oil & gas producer

Virginia Hills Oil Corp. and Pinecrest Energy Inc. (TSX VENTURE:PRY) announce that Virginia Hills and its wholly-owned subsidiary 1834163 Alberta Ltd., ('AcquisitionCo') have entered into an agreement with a private oil and gas producer, hereafter PrivateCo, pursuant to ...
North America | Wednesday, March 4, 2015

ExxonMobil adds new production; continues long-term capital focus and investment discipline

Exxon Mobil Corporation (NYSE:XOM) expects to start up 16 major oil and natural gas projects during the next three years and is on track to increase daily production to 4.3 million oil-equivalent barrels by 2017, Rex W. Tillerson, chairman and chief executive officer, s ...
North America | Wednesday, March 4, 2015

Oil price, Afren, President, Primeline, Bowleven, Sundry-BP-Circle- And finally...

Oil price Firstly apologies, my very short blog yesterday got lost to some addresses due to operator error, I was leaving early for a series of meetings. This meant that for some people the blog came twice, for others they will get two today! The main message from yest ...
West Europe | Wednesday, March 4, 2015

Here's What Will Send Oil Prices Back Up Again

Oil's rapid decline since August of last year has been dramatic. To listen to some commentators you would also think it is unprecedented and irreversible. Those claiming that oil will continue to fall from here and remain low for evermore, however, are flying in the fac ...
North America | Wednesday, March 4, 2015

When the going gets tough: EBH Namibia, providing solid support for the oil and gas industry to weather oil price 'storm'

As one of the leading contributors to the economy of Namibia, ship repair company Elgin Brown & Hamer (EBH) Namibia, is keeping a close watch on the sliding oil price. The company is fully cognisant of the impact the downturn has already started to have and regarding th ...
Africa | Wednesday, March 4, 2015

Cost Reduction Today, Now, in This Era!

Personally, I have had enough of 'doom and gloom'! So here's a wacky idea! Where the oil price goes from now - the price relative to this moment in time - is determined by the supply/demand balance. But what determines the absolute price? My argument would be that th ...
West Europe | Wednesday, March 4, 2015
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