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Volga Gas concludes formal sale process

Conclusion of Formal Sale Process Following the announcement by the Company of a formal sale process on 5 June 2014 a number of proposals were received from interested parties. However none of the proposals have been deemed by the Board to represent a fair value for th ...
Russia FSU | Tuesday, January 27, 2015

The most powerful sanction against Iran? Try US crude exports

As the US Senate deliberates a new round of sanctions on Iran, two former Obama advisers make a compelling case for a powerful policy lever that is not even on the table - US crude exports. The economic arguments for exporting US crude are fairly well-known and the mai ...
North America | Tuesday, January 27, 2015

Tethys Petroleum reports record net sales for full year 2014

The growth in sales from Tethys' production in the Sultanate of Oman continued in the fourth quarter 2014, and the company reports record net sales of MSEK 1,046 for the full year 2014. The increasingly stronger USD to the SEK during the fourth quarter has positivel ...
Middle East | Tuesday, January 27, 2015

Paradigm Oil & Gas report strong start to 2015 and plan to announce new partnerships in the next 48 hours

Paradigm Oil and Gas, Inc. (OTC PINK: PDGO), a leading service provider to the oil and gas industry with expanding operations in oil and gas production, announced important new strategic partnerships, the reactivation of four newly rebuilt wells and the accumulation of ...
North America | Tuesday, January 27, 2015

Oil price, IGas/Egdon, Afren, and finally...

Oil price After falling modestly yesterday the oil price has again 'stabilised' at around these levels after a speech in London given by el-Badri the Opec Secretary General. He must have been reading the blog as I have been suggesting that the more cuts that ha ...
West Europe | Tuesday, January 27, 2015

Rock Energy reduces 2015 capital spending to $25 million

Rock Energy Inc. (TSX:RE) provides a 2014 operations update and revised 2015 guidance. Rock is a Calgary-based crude oil exploration, development and production company. On November 5, 2014 Rock provided initial guidance for 2015 which included a capital spending progr ...
North America | Tuesday, January 27, 2015

Stone Energy awards Technip two subsea contracts in the Gulf of Mexico

Technip (Paris:TEC) (ISIN:FR0000131708) (ADR:TKPPY) has been awarded by Stone Energy Corporation both a flexible pipe supply contract and an installation contract for the Amethyst field, located on Mississippi Canyon 26, in the Gulf of Mexico. The first contract includ ...
North America | Tuesday, January 27, 2015

Eneabba Gas signs farm-in agreement with Finder covering Ocean Hill project

Eneabba Gas Limited (ASX:ENB) is pleased to announce that it has signed a farm-in agreement with Finder No 6 Pty Ltd covering the Ocean Hill Block (STP EPA 0090) located in the North Perth Basin, Western Australia. Finder is a wholly owned subsidiary of the successful p ...
Australasia | Tuesday, January 27, 2015

Oil price changing the face of global geopolitics

In a documentary that aired recently on the Canadian Broadcasting Corporation's popular The Fifth Estate program, an allegory of Vladimir Putin was presented. The wily Russian president was described growing up in a shabby St. Petersburg apartment, where he would of ...
Russia FSU | Tuesday, January 27, 2015

Greka Drilling plans to expand into new geography in 2015, provides fourth quarter operations update

Greka Drilling Limited (AIM: GDL), the largest independent and specialized unconventional oil & gas driller in Asia, provides an operations update to 31 December 2014. Operational Highlights 45 wells drilled in 2014 (2013: 50 wells), of which: 38 wells drilled in Ch ...
Asia Far East | Tuesday, January 27, 2015

Jupiter energy provide update on fourth quarter activities and future outlook

Key Points: 45,866 barrels of oil were produced for sale during the Quarter, generating domestic oil sales of ~$US1.53m (~$US33.40 per barrel at the well head). This compares with production of 51,303 barrels for the corresponding quarter in the 2013/14 financial year ...
Russia FSU | Tuesday, January 27, 2015

KMG EP announces 2014 operating results

JSC KazMunaiGas Exploration Production (KMG EP) today announces its full year operating results for 2014. Overall, in 2014 KMG EP, including its stakes in Kazgermunai (KGM), CCEL (CCEL) and PetroKazakhstan Inc. (PKI), produced 12,328 thousand tonnes of crude oil (250kb ...
Russia FSU | Tuesday, January 27, 2015

Monday, January 26, 2015

Lower 48 oil production outlook stable despite expected near-term reduction in rig count

Source: U.S. Energy Information Administration, January Short-Term Energy Outlook Note: Graph does not include production from Alaska and the Federal Gulf of Mexico. The sharp decline in oil prices over the last quarter of 2014, which has continued in January, is alr ...
North America | Monday, January 26, 2015

Oil price, The Bucket List... And finally...

Oil price The oil price had, by its own recent standards a fairly quiet week, Brent was only down $1.38 whilst WTI fared a little worse after those awful inventory numbers to finish down $3.54 over the period. This meant that having flirted with positive territory the ...
West Europe | Monday, January 26, 2015

Warren Resources announces 2014 production and updated 2015 capital budget

Warren Resources, Inc. (Nasdaq:WRES) today announced expected total production volumes for the full year 2014 and updated its capital budget and production guidance for the full year 2015. While year-end audited financials are not yet complete, Warren estimates product ...
North America | Monday, January 26, 2015

The most important thing to understand about the coming oil production cutbacks

What the current oil price slump means for world oil supply is starting to emerge. "Layoffs," "cutbacks," "delays," and "cancellations" are words one sees in headlines concerning the oil industry every day. That can only mean one ...
North America | Monday, January 26, 2015
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