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Friday, July 3, 2015

Shale exposed service companies are taking a hit

Low oil prices and lowered activity have made a severe impact on the service companies exposed to North America. Their revenues were down 25% in the first quarter - a much higher decrease than the average of -18% we see on a global basis. Figure 1 shows how ...

EnerMech granted extension to BP contract

EnerMech has been awarded a 12 month extension of a five year cranes and lifting contract by BP Exploration (Caspian Sea) Ltd. The contract, which includes a further two one-year options, will see mechanical engineering group EnerMech continue to provide cran ...

Oil price, BP, Lamprell, Wood Group, Sundry-Petrofac-Sefton-Afren-GKP- And finally...

Oil price The oil price was modestly up yesterday lunchtime in the US preparing for a quiet long weekend, the NFP numbers were in line at least with GSach's best guess although there was a revision down of previous data, the greenback had fallen giving crude ...

Viewing global LNG from the House at Pooh Corner, where Eeyore lives

Ross McCracken, managing editor of Energy Economist, shares what the world of LNG would look like to an unabashed pessimist . . . or maybe just to someone who eyes the massive production boom on the horizon with some concern. The LNG market is undergoing a bo ...

Q2 2015 Oil & Gas M&A Recovers to $115 billion in E&P Sector

Large Headline Figure Conceals Enduring Caution in the Market The total value of upstream oil and gas deals reached $115 billion during Q2 2015 ranking it as the second largest quarterly value since Evaluate Energy initiated its oil and gas M&A coverage 7 yea ...

Statoil announces first subsea wet gas compressor in the world at Gullfaks

After several years of technology development, construction and testing the first subsea wet gas compressor in the world is now installed at the Gullfaks C platform in the North Sea. In May and June Gullfaks subsea compressor project (GSC) completed successfu ...

Strata-X Energy appoints non-executive director

Strata-X Energy Limited (TSX VENTURE:SXE)(ASX:SXA) is pleased to announce the appointment of Greg Hancock BA (Econs) BEd (Hons) F.Fin as a Non-Executive Director effective immediately. Mr Hancock's appointment follows the resignation of Don Schurman on 2 July ...

Coral Hill Energy announces agreement to be acquired by Crescent Point Energy

Coral Hill Energy Ltd. is pleased to announce that it has entered into an arrangement agreement with Crescent Point Energy Corp. pursuant to which Crescent Point will acquire all of the issued and outstanding common shares of Coral Hill not already owned by Cr ...

Petrolia provides corporate and operations update

Petrolia is pleased to provide an update on the progress of its hydrocarbon development work on the permits and interests it holds in Gaspésie and, as an operator and partner of the Anticosti Hydrocarbons consortium, the progress of the work being compl ...

Max Petroleum provides financial and operational update

Max Petroleum announces that Sberbank has unconditionally granted a six month standstill on all principal and interest payments due under the Company's c.US$80 million loan through to 14 December 2015. In addition, the Company has accrued US$3.8 million of int ...

Baker Hughes announces weekly North American rig counts

Baker Hughes Incorporated has posted Weekly Rig Count reports to its Investor Relations website. BHI Rig Count: U.S. +3 to 862 rigs U.S. Rig Count is up 3 rigs from last week to 862, with oil rigs up 12 to 640, gas rigs down 9 to 219, and miscellaneous rigs ...

Gulf Keystone Petroleum director resigns, two decide not to seek re-appointment

Gulf Keystone today announces that the Company's Non-Executive Director V Uthaya Kumar has resigned from the Board on 2 July 2015. Non-Executive Directors Dr. Joseph Stanislaw and Maria Darby-Walker have decided to not seek re-appointment and will retire from ...

Subsea 7 announces award of four contracts by Chevron and INPEX

Subsea 7 S.A. (Oslo Børs: SUBC, ADR: SUBCY) today announced the award of four contracts by Chevron Australia Pty Ltd and INPEX Operations Australia Pty Ltd (as operator of the Ichthys LNG Project), for the engineering, procurement and construction of an ...

Technip awarded two contracts for the Browse FLNG Project

Technip Samsung Consortium was awarded two contracts by Shell for the Browse floating liquefied natural gas (FLNG) project in Australia, operated by Woodside. The Browse project covers the realization and installation of three FLNG units to develop the Breckn ...
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