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Friday, July 31, 2015

No Joy in Mudville*: Shale Gas Stalls, LNG Export Dead On Arrival

Something unusual happened while we were focused on the global oil-price collapse-the increase in U.S. shale gas production stalled (Figure 1). Figure 1. U.S. shale gas production. Source: EIA and Labyrinth Consulting Services, Inc. Total shale gas production for Jun ...
North America | Friday, July 31, 2015

Atlantic Petroleum completes sale of Pegasus discovery

P/F Atlantic Petroleum (NASDAQ OMX COPENHAGEN: ATLA DKK & Oslo Stock Exchange: ATLA NOK) today announces that its subsidiary Atlantic Petroleum UK Limited has completed on the sale and purchase agreement with Third Energy Offshore Limited for the sale of Atlantic Petrol ...
West Europe | Friday, July 31, 2015

Total assumes operatorship of PRL 15, Papua New Guinea

InterOil Corporation (NYSE: IOC) (POMSoX: IOC) and Total E&P PNG Limited have agreed that Total will become operator of Petroleum Retention License 15 in the Gulf Province of Papua New Guinea from August 1, 2015. On February 27, 2015 InterOil announced that the PRL 15 ...
Australasia | Friday, July 31, 2015

Phillips 66 reports second quarter earnings

Phillips 66 Partners LP (NYSE: PSXP) announces second-quarter 2015 earnings of $42.0 million, or $0.50 per common unit. Distributable cash flow was $47.8 million and adjusted earnings before interest, income taxes, depreciation and amortization (adjusted EBITDA) were $5 ...
North America | Friday, July 31, 2015

Afren enters administration

Afren Plc provides an update on the outcome of the discussions regarding its financial situation. As announced on 15 July 2015, the recently completed operational review has led the Company to expect materially lower near-term production from its assets as compared to ...
West Europe | Friday, July 31, 2015

Buru Energy - Seizing opportunities

Buru is solely focused on exploring and developing the petroleum resources of the Canning Superbasin in the south-west Kimberley region of Western Australia, some 2,300km north of Perth. Buru is active, with the drill bit currently targeting conventional oil, and is abo ...
Australasia | Friday, July 31, 2015


Oil Industry Service Sector - Nimble Like a Ninja

Just like a ninja, the oil industry service sector has responded to the demands of the market place and reduced the cost of doing business in the upstream world by more than 15% in just six months. It turns out that I was a pessimist when I first wrote about this in Fe ...
West Europe | Friday, July 31, 2015

ExxonMobil earns $4.2 billion in the second quarter of 2015

Exxon Mobil Corporation today announced estimated second quarter 2015 earnings of $4.2 billion, or $1 per diluted share, compared with $8.8 billion a year earlier. Higher Downstream and Chemical earnings were more than offset by the impact of weaker Upstream realization ...
North America | Friday, July 31, 2015

Chevron reports second quarter net income of $571 million

Chevron Corporation (NYSE: CVX) today reported earnings of $571 million ($0.30 per share - diluted) for second quarter 2015, compared with earnings of $5.7 billion ($2.98 per share - diluted) in the 2014 second quarter. Included in the quarter were impairments of $1.96 ...
North America | Friday, July 31, 2015

Oil price, Empyrean, Sundry-BG-Conoco-IOG-Parkmead- And finally...

Oil price A very quiet day in the oil markets with traders telling me that there were few influences which meant that prices moved a bit with a drift at the end. Even supposedly bullish comments from the Opec Secretary General in Moscow were unable to boost prices. In ...
West Europe | Friday, July 31, 2015

Canamax Energy and Powder Mountain Energy announce closing of business combination

Canamax Energy Ltd. (TSX VENTURE: CAC) and Powder Mountain Energy Ltd. (TSX VENTURE: PDM) are pleased to announce the completion of the acquisition by Canamax of all of the issued and outstanding common shares of Powder by way of a previously announced plan of arrangeme ...
North America | Friday, July 31, 2015

Oilex provides quarterly report

CAMBAY PSC, ONSHORE GUJARAT, INDIA Maiden Reserves achieved for the Cambay Field Gross 2P Reserves of 206 Bcf gas and 8.0 MMbbls of condensate (C5+) in the Y zone (Oilex net working interest 93 Bcf gas and 3.6 MMbbls of C5+) Gross 3P Reserves of 377 Bcf gas and 17.3 MM ...
Asia Far East | Friday, July 31, 2015

Global Petroleum provides June 2015 quarterly report

The Board of Global Petroleum Limited is pleased to present its Quarterly Report for the period ending 30 June 2015. Summary In 2014, the Company agreed with the Namibian Ministry of Mines and Energy ('MME') a 12 month extension of the Initial Exploration Period of its ...
West Europe | Friday, July 31, 2015

AWE - Achieving milestones

With a diverse portfolio focused across a number of stable geopolitical areas AWE, has 2P reserves of 81.5mmboe representing over 16 years of production potential. The company has the potential to double these in the short to medium term. AWE remains on track to meet it ...
Australasia | Friday, July 31, 2015

Range Resources Limited provides quarterly activities report

Highlights Average oil production of 602 bopd in Trinidad increased by 8% from the previous quarter; Preparation work continued with good progress for the drilling of the Canari North exploration well, which is the first shallow onshore well planned on the Guayaguayare ...
Central America | Friday, July 31, 2015

BG Group announces 2015 second quarter and half year results

E&P production up 19% at 703 kboed; full year guidance moved to the upper half of 650 - 690 kboed range Australia and Brazil average E&P production more than doubled to 80 kboed and 143 kboed, respectively QCLNG pipeline disposal completed with gross proceeds of $4.6 b ...
Australasia | Friday, July 31, 2015
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