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Oil price, Jersey Oil & Gas, Pantheon/Xcite carry over, Sundry-Genel-GKP-Egdon-US results, And finally...

Oil price Oil remains under some pressure as the faults start to develop in the Opec agreement scheduled for November 30th. After Iran, Iraq now wants exemption from the agreement and that comes as it looks like their output was 4.45m b/d last month. With the US having ...
West Europe | Wednesday, October 26, 2016

CNOOC announces key operational statistics for third quarter 2016

CNOOC Limited (SEHK: 00883, NYSE: CEO, TSX: CNU) today announced its key operational statistics for the third quarter of 2016. For the third quarter of the year, the Company achieved total net production of 117.7 million barrels of oil equivalent ('BOE'), representing ...
Asia Far East | Wednesday, October 26, 2016

Egdon Resources acquires additional interest in onshore UK licences

Egdon Resources plc (AIM:EDR) is pleased to announce the acquisition of additional interests in two 14th Round licences in the Company's East Midlands core area. Egdon will materially increase its interests in two of its recently announced Egdon operated 14th Round awa ...
West Europe | Wednesday, October 26, 2016

Cycle of Low Crude Prices Nearing an End, Says Saudi Oil Minister

Saudi Arabia's Oil Minister Khalid al-Falih declared the cycle of low crude prices is nearing an end as the oil market strengthens in recent weeks. 'Market fundamentals, in terms of supply and demand, have begun to improve,' Falih stated on Sunday at a press conferenc ...
Middle East | Wednesday, October 26, 2016

Gulf Keystone confirms receipt of payment for Shaikan oil export sales

Gulf Keystone confirms today that a gross payment of $15.0 million has been received from the Kurdistan Regional Government for Shaikan crude oil export sales in August 2016. Gulf Keystone and the KRG's Ministry of Natural Resources continue to work towards agreeing th ...
Middle East | Wednesday, October 26, 2016

DONG Energy confirms strategic review of oil and gas business

In connection with its IPO, DONG Energy confirmed its intention to build a world-class clean energy company with a portfolio based on leading competences in offshore wind, bioenergy and green distribution and customer solutions. DONG Energy further said that it would ma ...
West Europe | Wednesday, October 26, 2016

Genel Energy provides third quarter 2016 trading and operations update

Genel Energy plc issues the following trading and operations update in respect of Q3 2016. The information contained herein has not been audited and may be subject to further review. Murat Özgül, Chief Executive of Genel, said: 'Genel has received $163 milli ...
Middle East | Wednesday, October 26, 2016

Tuesday, October 25, 2016

Basic Energy Services: The Opportunity After the Storm

Like many suppliers in the U.S. oilfield, Basic Energy Services has been badly beaten up. The culprit is a once-in-a-generation downturn that engulfed the entire industry, pushing Basic's latest quarterly revenues down 70% compared to their peak just 18 months earlier. ...
North America | Tuesday, October 25, 2016

Callon Petroleum Company closes acquisition of Midland Basin assets

Callon Petroleum Company (NYSE: CPE) today announced the closing of its previously announced acquisition of certain assets located in the Midland Basin within its WildHorse operating area. On October 20, 2016, the Company completed the acquisition of 6,904 gross (5,952 ...
North America | Tuesday, October 25, 2016

Statoil Business Strategy: A Strategic Management Approach

Statoil is one of biggest National Oil Company (NOCs) (despite the fact that is listed on the largest exchange stock markets of the world, 67 % Norwegian state ownership) in the world, but its global business operations are comparable and in some cases even better than ...
West Europe | Tuesday, October 25, 2016

Baker Hughes announces third quarter 2016 results; revenue falls to $2.4 billion

Baker Hughes Incorporated (NYSE:BHI) announced today results for the third quarter of 2016. 'Our third quarter results demonstrate the progress we have made on our commitment to improve financial performance by reducing operational costs, optimizing our capital structu ...
North America | Tuesday, October 25, 2016

88 Energy executes agreements for $11 million placement with US investors

88 Energy Limited (ASX, AIM: 88E) is pleased to announce that it has reached agreement (subject to settlement) regarding a placement to raise gross proceeds of A$11m (before fees and expenses) to two US-based institutional investors. The net proceeds from the Placement ...
North America | Tuesday, October 25, 2016

Red Emperor Resources comments on third quarter 2016 report

The Board of Red Emperor Resources NL provides the following commentary for the period ending 30 September 2016. Philippines (SC 55) During the quarter, all relevant documentation for the transfer of Otto Energy Limited's (ASX: OEL 'Otto') equity interest in Block SC ...
Asia Far East | Tuesday, October 25, 2016

Buckeye Partners to acquire 50% of VTTI

VTTI BV, VTTI Energy Partners LP, NYSE: VTTI (together 'VTTI') and Vitol today announced that Buckeye Partners, L.P. has signed a definitive agreement to acquire a 50 percent equity interest in the holding company of VTTI for $1.15 billion. Upon completion, VTTI will be ...
North America | Tuesday, October 25, 2016

Carrizo Oil & Gas announces Eagle Ford Shale acquisition, estimates third quarter production at 3,750MBoe

Carrizo Oil & Gas, Inc. (Nasdaq:CRZO) today announced that it has agreed to acquire Eagle Ford Shale properties from an affiliate of Sanchez Energy Corporation for $181 million in cash, subject to customary closing adjustments. Additionally, Carrizo is providing estimat ...
North America | Tuesday, October 25, 2016

Monday, October 24, 2016

Petrobras and Total form strategic alliance in upstream and downstream

Petrobras and Total inform that Pedro Parente, CEO of Petrobras, and Patrick Pouyanné, Chairman and CEO of Total, have signed today, in Rio de Janeiro, a Memorandum of Understanding which sets the general framework for a Strategic Alliance covering Upstream and D ...
South America | Monday, October 24, 2016
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