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T. Boone Pickens On Obama Oil Tax: 'Dumbest Idea Ever'

The Obama administration's proposed $10.25 per barrel oil tax adds up to approximately $32 billion a year, and critics are coming out of the woodwork in defense of both the oil industry and end users who would foot the bill for transportation system reforms-bu ...

Rosneft and BP obtain regulatory approvals to dissolve the German Ruhr Oel GmbH (ROG) JV

Rosneft has obtained the approval to dissolve the Ruhr Oel GmbH (ROG) Joint Venture from the German Federal Ministry of the Economy and Energy (Bundesministerium für Wirtschaft und Energie). Therefore, Rosneft and BP have accomplished getting regulatory a ...

Premier Oil terminates drilling contract with Ocean Rig UDW

Premier and Noble Energy entered into a contract with Ocean Rig UDW on 3 June 2014, for the provision of the Eirik Raude drilling unit for an exploration drilling campaign in the Falkland Islands. Following a number of material operational issues with the Eir ...

Europa Oil & Gas increases offshore Ireland acreage following award of new licensing option

Europa Oil & Gas (Holdings) plc, the AIM listed oil and gas exploration, development and production company focused on Europe, is delighted to announce it has been awarded a new Licensing Option (the 'LO') in the southern Porcupine Basin, offshore Ireland, as ...

Petsec Energy appoints Vice President Technical of Middle Eastern subsidiary

Petsec Energy Ltd is pleased to announce the appointment of Mr. John Rees as Vice President Technical of the Company's wholly owned subsidiary, Petsec Energy (Middle Eastern) Limited. Mr. Rees is a technical expert in production and exploration and will lead ...

Thursday, February 11, 2016

Geopolitical impact of oil's drop shows why there's no end in sight

The price of crude oil resumed its slide this week, falling below US$29 a barrel and approaching the 12-year low reached last month. The International Energy Agency is warning oil's fall has further to go. So what factors suggest the price of oil will continu ...

Pioneer Natural Resources reports year-end 2015 proved reserves and operating costs

Pioneer Natural Resources Company (NYSE:PXD) today announced that the Company added proved reserves totaling 210 million barrels oil equivalent (MMBOE) during 2015 from discoveries, extensions and technical revisions of previous estimates (excludes negative pr ...

Initial production rates in tight oil formations continue to rise

Source: U.S. Energy Information Administration, Drilling Productivity Report Tight oil production in the United States increased from 2007 through April 2015, based on estimates in EIA's Drilling Productivity Report (DPR), and accounted for more than half of ...

Precision Drilling announces fourth quarter 2015 financial results

Precision Drilling: For the fourth quarter of 2015, we recorded earnings before income taxes, finance charges, foreign exchange, impairment of goodwill, impairment of property, plant and equipment, loss on asset decommissioning and depreciation and amortizati ...

SoCalGas provides Aliso Canyon gas leak incident update

SoCalGas continues to make progress on relief well number one, reaching a measured depth of 8,615 feet. As we move forward, there are three major milestones - the 'three C's' - to stopping the leak: Controlling the natural gas that is leaking: This step consi ...

Cenovus Energy announces financial update

Cenovus Energy Inc. (TSX: CVE) (NYSE: CVE) achieved significant sustainable cost savings across its business in 2015 and further strengthened what is now one of the best balance sheets in the North American exploration and production sector. The company is pla ...

Whitecap Resources announces 27% increase to 2015 year-end reserves

Whitecap Resources Inc. (TSX: WCP) is pleased to present the results of our independent 2015 year end oil and gas reserves evaluation prepared by McDaniel & Associates Consultants Ltd. Since inception, Whitecap has been focused on acquiring high quality asset ...

CGX Energy announces director resignation

CGX Energy Inc. announced today that the Company has accepted Mr. John Cullen's resignation as director of the Company. Mr. Cullen has resigned to allow him more time to pursue other professional opportunities. Mr. Cullen's seat on the board of directors will ...

IEA says market 'awash with oil' - debunks bullish myths

Oil markets are the proverbial 'canary in the coalmine'. They are showing us what happens when the rose-tinted glasses provided by stimulus policy are removed. Now markets have to return to their true role of price discovery, based on the fundamentals of supp ...
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