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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 producti ...

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 Atlan ...

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 t ...

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 EBITD ...

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 co ...

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, ...

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 ...

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 r ...

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 ...

Gulf Keystone Petroleum provides Shaikan operational update

Gulf Keystone, the operator of the world class Shaikan field in the Kurdistan Region of Iraq, announces that all production and truck loading operations currently continue without interruption at both Shaikan production facilities (PF-1 and PF-2) in a safe and ...

In deep water: oil & gas projects in disputed international waters

Since 1994, the 167 parties to the United Nations Convention on the Law of the Sea have been required to abide by the Convention when looking to procure an offshore oil & gas project, amongst other activities. The Convention established four possible outlets ...

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 p ...

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 ...

Former Exxon President On Mission To Clean Up Oil Sands

Canada has given oil sands a dirty reputation, but a breakthrough, commercially viable technology has caught the eye of a former Exxon Mobil president who is putting it to use to clean up Utah's billions of barrels of oil sands. Imagine extracting high-qualit ...
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