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Friday, July 3, 2015

Shale exposed service companies are taking a hit

Low oil prices and lowered activity have made a severe impact on the service companies exposed to North America. Their revenues were down 25% in the first quarter - a much higher decrease than the average of -18% we see on a global basis. Figure 1 shows how the larges ...
North America | Friday, July 3, 2015

EnerMech granted extension to BP contract

EnerMech has been awarded a 12 month extension of a five year cranes and lifting contract by BP Exploration (Caspian Sea) Ltd. The contract, which includes a further two one-year options, will see mechanical engineering group EnerMech continue to provide cranes operati ...
Russia FSU | Friday, July 3, 2015

Oil price, BP, Lamprell, Wood Group, Sundry-Petrofac-Sefton-Afren-GKP- And finally...

Oil price The oil price was modestly up yesterday lunchtime in the US preparing for a quiet long weekend, the NFP numbers were in line at least with GSach's best guess although there was a revision down of previous data, the greenback had fallen giving crude some suppo ...
West Europe | Friday, July 3, 2015

Viewing global LNG from the House at Pooh Corner, where Eeyore lives

Ross McCracken, managing editor of Energy Economist, shares what the world of LNG would look like to an unabashed pessimist . . . or maybe just to someone who eyes the massive production boom on the horizon with some concern. The LNG market is undergoing a boom in new ...
North America | Friday, July 3, 2015

Q2 2015 Oil & Gas M&A Recovers to $115 billion in E&P Sector

Large Headline Figure Conceals Enduring Caution in the Market The total value of upstream oil and gas deals reached $115 billion during Q2 2015 ranking it as the second largest quarterly value since Evaluate Energy initiated its oil and gas M&A coverage 7 years ago. Al ...
North America | Friday, July 3, 2015

Petrolia provides corporate and operations update

Petrolia is pleased to provide an update on the progress of its hydrocarbon development work on the permits and interests it holds in Gaspésie and, as an operator and partner of the Anticosti Hydrocarbons consortium, the progress of the work being completed on An ...
North America | Friday, July 3, 2015

Max Petroleum provides financial and operational update

Max Petroleum announces that Sberbank has unconditionally granted a six month standstill on all principal and interest payments due under the Company's c.US$80 million loan through to 14 December 2015. In addition, the Company has accrued US$3.8 million of interest as o ...
Russia FSU | Friday, July 3, 2015

Subsea 7 announces award of four contracts by Chevron and INPEX

Subsea 7 S.A. (Oslo Børs: SUBC, ADR: SUBCY) today announced the award of four contracts by Chevron Australia Pty Ltd and INPEX Operations Australia Pty Ltd (as operator of the Ichthys LNG Project), for the engineering, procurement and construction of an Emergency ...
Australasia | Friday, July 3, 2015

Technip awarded two contracts for the Browse FLNG Project

Technip Samsung Consortium was awarded two contracts by Shell for the Browse floating liquefied natural gas (FLNG) project in Australia, operated by Woodside. The Browse project covers the realization and installation of three FLNG units to develop the Brecknock, Calli ...
Australasia | Friday, July 3, 2015

Thursday, July 2, 2015

Tanager Energy announces acquisition of oil and gas property

Tanager Energy Inc., (TSX VENTURE:TAN) advises that it has closed the purchase of a 39% working interest in an oil and gas property for $110,000. The property consists of one producing CBM gas well, one producing Mannville gas well, and one suspended Devonian D3 oil wel ...
North America | Thursday, July 2, 2015

BP to settle federal, state and local Deepwater Horizon claims for up to $18.7 billion

Five years on from the Deepwater Horizon accident and spill in 2010, BP has reached agreements in principle to settle all federal and state claims arising from the event. BP today announced that its US Upstream subsidiary, BP Exploration and Production Inc (BPXP) has e ...
North America | Thursday, July 2, 2015

Alpha Natural Resources announces consolidation of Marcellus shale joint venture ownership

Alpha Natural Resources, Inc. (NYSE: ANR) announced today that its wholly-owned subsidiary, Pennsylvania Services Corporation (PSC), has acquired the 50% interest in its natural gas exploration and production joint venture, Pennsylvania Land Resources Holding Company, L ...
North America | Thursday, July 2, 2015

FourPoint Energy to acquire Anadarko Assets from Chesapeake Exploration and CHK Cleveland Tonkawa

FourPoint Energy, LLC announced today the signing of definitive agreements to acquire oil and gas assets from Chesapeake Exploration L.L.C. and CHK Cleveland Tonkawa L.L.C., whose preferred interest owners are funds managed by GSO Capital Partners LP, as well as other t ...
North America | Thursday, July 2, 2015

Iona Energy announces sale of interest in the Esmond Transportation System

Iona Energy Inc. (TSX VENTURE:INA), a Canadian independent oil & gas company with assets in the UK North Sea is pleased to announce that its UK subsidiary, Iona Energy Company (UK) plc, has entered into a definitive sale and purchase agreement with GDF SUEZ E&P UK Ltd ( ...
West Europe | Thursday, July 2, 2015

Black Gold Resources acquires stake in the 10 Well Income joint venture in Caldwell County, Texas

Black Gold Resources, Inc. (BGR) The 10 WELL INCOME, JV is a Thirteen Well Enhanced Oil Recovery Project located in Caldwell County, Texas. Twelve of the wells are proven productive vertical oil wells. Two of the 12 wells will be converted to water injection wells for t ...
North America | Thursday, July 2, 2015

Hess Corporation completes sale of 50% interest in Bakken midstream assets for $2.675 billion

Hess Corporation (NYSE: HES) today completed the previously announced sale of a 50 percent interest in its Bakken midstream assets to Global Infrastructure Partners for cash consideration of $2.675 billion. As planned, Hess and Global Infrastructure Partners have creat ...
North America | Thursday, July 2, 2015
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