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Friday, July 29, 2016

Key Petroleum exercises option to acquire interest in WA-481-P

Key Petroleum has exercised an option under a Cooperation Agreement with Pilot Energy to acquire a 40% interest in Exploration Permit WA-481-P, located in the offshore North Perth Basin, Western Australia. Key's subsidiary Key Petroleum Offshore will be assigned the in ...
Australasia | Friday, July 29, 2016

Cabot Oil & Gas reports second quarter 2016 results

Cabot Oil & Gas Corporation (NYSE: COG) today reported financial and operating results for the second quarter of 2016. 'Cabot's 2016 operating plan was designed to provide modest production growth while generating positive free cash flow despite a lower commodity price ...
North America | Friday, July 29, 2016

Encana Corporation completes sale of Gordondale and DJ Basin assets

Encana Corporation (TSX: ECA) (NYSE: ECA) announced today that it has completed the previously announced sales of its Gordondale and DJ Basin assets. Encana has completed the sale of its Gordondale assets in northwestern Alberta to Birchcliff Energy Ltd. (TSX: BIR). Th ...
North America | Friday, July 29, 2016

Chevron reports second quarter loss of $1.5 billion

Chevron Corporation (NYSE:CVX) today reported a loss of $1.5 billion ($0.78 per share - diluted) for second quarter 2016, compared with earnings of $571 million ($0.30 per share - diluted) in the second quarter of 2015. Included in the quarter were impairments and other ...
North America | Friday, July 29, 2016

ExxonMobil earns $1.7 billion in second quarter of 2016

Second Quarter First Half 2016 2015 % 2016 2015 % Earnings Summary(Dollars in millions, except per share data) Earnings 1,700 4,190 -59 3,510 9,130 -62 Earnings Per Common Share Assuming Dilution 0.41 1.00 -59 0.84 2.17 -61 Capital and Exploration Expendi ...
North America | Friday, July 29, 2016

JKX Oil & Gas announces results for the first half of 2016

Operational Highlights Average production increased by 21% at 10,393 boepd (2015: 8,611 boepd) Nearing finalisation of the updated Field Development Plans across the group Monetization process of our Russian and Hungarian assets ongoing Bond liabilities reduced by $2.2m ...
Russia FSU | Friday, July 29, 2016

Jupiter Energy provides quarterly update

KEY POINTS: 5 existing Convertible Notes with a nominal value of $US15.5m plus accrued interest as at 31 May 2016 of $US5,345,753 (total $US20,845,753) rolled into 4 new Promissory Notes with a repayment date of 1 July 2018. 1 existing Promissory Note with a face value ...
Russia FSU | Friday, July 29, 2016

Seadrill announces three year contract extensions for jack-ups AOD I and AOD II

Seadrill Limited has received three year contract extensions from Saudi Aramco for the jack-ups AOD I and AOD II expiring in June 2019 and July 2019, respectively. The extensions are in direct continuation of the current contracts and will add approximately $225 million ...
Middle East | Friday, July 29, 2016

Serica Energy recommences production from Erskine field

Serica Energy plc (AIM: SQZ) provides the following operations Serica is pleased to announce that oil and gas production from the Erskine field has recommenced following the clearance of a pipeline blockage and the completion of scheduled maintenance works on the Lomond ...
West Europe | Friday, July 29, 2016

Malcy's Blog: DNO/Gulf Keystone

DNO/Gulf Keystone Petroleum It has just been announced that DNO has made a cash and shares bid for GKP worth around $300m. The bid is hostile and has been presented to the GKP board without indications of any formal discussions. Obviously with only the DNO statement to ...
West Europe | Friday, July 29, 2016

DNO launches offer to acquire Gulf Keystone Petroleum

DNO ASA has put forward a proposal to the board of directors of Gulf Keystone Petroleum Ltd to acquire 100 percent of the enlarged share capital in Gulf Keystone that will result from the contemplated restructuring recently announced by Gulf Keystone. As described below ...
Middle East | Friday, July 29, 2016

Statoil acquires 66% operated interest in Brazilian offshore licence containing part of Carcará pre-salt oil discovery

Statoil ASA (OSE:STL, NYSE:STO) and Petróleo Brasileiro S.A. - Petrobras (BVMF: PETR4, NYSE:PBR) have agreed that Statoil will acquire Petrobras' 66% operated interest of the BM-S-8 offshore licence in Brazil's highly prolific Santos basin. The acquisition includ ...
South America | Friday, July 29, 2016

AWE Limited provides June quarter report

PRODUCTION AND DEVELOPMENT Full year production for FY 2015-16 of 5.0 mmboe was within guidance range Following the sale of Sugarloaf in March 2016, June quarter production of 0.9 mmboe was down 33% on the previous quarter as expected Waitsia Stage 1A construction neari ...
Australasia | Friday, July 29, 2016

Thursday, July 28, 2016

National Oilwell Varco reports second quarter 2016 results

National Oilwell Varco, Inc. (NYSE:NOV) today reported a second quarter 2016 net loss of $217 million, or $0.58 per share. Excluding other items, net loss for the quarter was $114 million, or $0.30 per share. Other items included $143 million in pre-tax charges ($103 mi ...
North America | Thursday, July 28, 2016

ConocoPhillips reports second-quarter 2016 net loss of $1.1 billion

ConocoPhillips (NYSE: COP) today reported a second-quarter 2016 net loss of $1.1 billion, or ($0.86) per share, compared with a second-quarter 2015 net loss of $179 million, or ($0.15) per share. Excluding special items, second-quarter 2016 adjusted earnings were a net ...
North America | Thursday, July 28, 2016

The Price Rally Is Over: Capital Drives the Oil Market to Low Prices

The current oil-price rally is over. U.S. rig counts have surged as oil prices sink. Capital is driving the oil markets and it enables bad behavior by producers. That is why oil prices will stay low. The oil-price rally that began in February is over. Prices rose from ...
North America | Thursday, July 28, 2016
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