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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 ...

Statoil confirms gas leak at Mongstad is over

Today at 1.15 p.m. there was a report of a gas leak at Mongstad. The situation was quickly resolved and was under control at 2.30 p.m. In compliance with instructions, an evacuation alarm was put into effect and Statoil's contingency organisation was alerted. ...

Offshore production nearly 30% of global crude oil output in 2015

Source: U.S. Energy Information Administration, based on Rystad Energy Global offshore oil production in 2015 was at the highest level since 2010, and accounted for nearly 30% of total global crude oil production. Offshore oil production increased in both 20 ...

CGG awarded Pemex contract for subsalt seismic acquisition

CGG announced today that it has been awarded a major contract by Pemex to deliver an orthogonal wide-azimuth integrated solution designed to optimize subsalt seismic imaging in the geologically complex deep waters of the Perdido area. A new wide-azimuth surve ...

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 gro ...

Serinus Energy provides update on third quarter 2016 operations

Serinus Energy Inc. (TSX:SEN) (WARSAW:SEN) is pleased to provide the following update for its operations for the third quarter of 2016. Third Quarter Production and Realized Prices Overall production for Q3 was 1,007 boe/d, 17% lower than the 1,206 boe/d in ...

Statoil announces cancellation of Stena Don rig contract

Statoil has decided to cancel the contract with Stena Drilling for the mobile rig Stena Don. The rig has been on contract to Statoil since 7 February 2014, performing operations for the Troll and Fram licences. The original contract termination date is 7 Febr ...

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 be ...

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 capit ...

Product Trade to Tamp Down Asian Crude Throughput

The increase in Asian refinery throughput and thus crude oil demand in the region will slow significantly in the next two years, rising by only 400,000 b/d annually, according to ESAI Energy's Two-Year Global Fuels Outlook. This compares with over 700,000 b/d ...

Phoenix South-2 expected to commence in the next seven days, advises Carnarvon Petroleum

Highlights Following the successful Roc-2 well, Carnarvon and Quadrant immediately proceed to the highly prospective Phoenix South-2 well The Phoenix South-2 well has two primary objectives: Evaluate the commerciality of the Phoenix South oil field in the Bar ...

Would the US ever attend an OPEC meeting? - Fuel for Thought

The recent invitation by OPEC for US officials to join in production freeze talks is clearly a nod to the production powerhouse Americas has become as a result of the shale revolution. But it wasn't always that way. Just ask former US Energy Secretary Bill Ri ...

KazMunaiGas Exploration Production announces operating results for the first nine months of 2016

JSC KazMunaiGas Exploration Production announces its operating results for the first nine months of 2016. Production Overall, KMG EP, including its stakes in Kazgermunai ('KGM'), CCEL ('Karazhanbasmunai') and PetroKazakhstan Inc. ('PKI'), produced 9,134 thou ...

Pantheon Resources completes drilling and planned flow testing at VOBM#3

Pantheon Resources plc, the AIM-quoted oil and gas exploration company with a working interest (of 50%-58%) in several conventional projects in Tyler and Polk Counties, onshore East Texas, is pleased to provide the following information: Completion of drillin ...
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