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Canadian Oil & Gas Companies Raise More Funds in H1 2015 than H2 2014

Deal Values Recover After a Lacklustre End to 2014, But Deal Count Falls A total of $10.5 billion was raised by publicly-quoted upstream Canadian oil and gas companies during the first half of 2015, a significant rebound from a low $8.2 billion total in the s ...

Velocys CEO suspended pending investigation into allegations of serious misconduct

Velocys plc (VLS.L), the company at the forefront of smaller scale gas-to-liquids (GTL), announces that it has suspended its Chief Executive Officer, Roy Lipski, pending an investigation into allegations of serious misconduct. Velocys' Chief Financial Officer, ...

Gulf Marine Services secures first decommissioning contract

Gulf Marine Services (LSE: GMS), the leading provider of advanced self-propelled self-elevating support vessels (SESVs) serving the offshore oil, gas and renewable energy sectors, is pleased to announce that one of its Large Class vessels in Europe has been co ...

LGO Energy confirms presence of recoverable hydrocarbons at GY-675, Goudron Field

LGO is today pleased to announce that its latest development well, GY-675, at its flagship Goudron Field development in Trinidad, reached total depth at 3,660 feet measured depth on 30 June 2014. Electric log interpretation from both the Goudron Sandstone and ...


Providence Resources acquires Atlantic Petroleum's interest in FEL 3/04, Southern Porcupine Basin

Providence Resources P.l.c. (PVR LN, PRP ID), the Irish based Oil and Gas Exploration Company, today is pleased to provide an update on Frontier Exploration Licence 3/04, which lies in c. 1,500 metre water depth in the southern Porcupine Basin and is c. 170 km ...

Ophir Energy provides trading update

Ophir Energy plc provides an update on activity for the first half of 2015 on entering a close period prior to publication of interim financial results on 13 August 2015. Operations Production during the first half of 2015 averaged 14,600 boepd, the Bualuang ...

Budget measures needed for energy's 'recession in confidence'

A North-east business organisation has called on George Osborne to take further steps to address the oil & gas 'recession in confidence' in his Emergency Budget next week. Aberdeen & Grampian Chamber of Commerce said its members broadly approved of the measur ...

Husky Energy suspends operations at Lloydminster Upgrader due to unplanned maintenance

Husky Energy (TSX: HSE) is undertaking maintenance at its Lloydminster Upgrader that will see operations temporarily suspended for an estimated period of six to eight weeks. The unplanned maintenance activity is underway and will address repairs to the facili ...

Statoil awards Baker Hughes onshore contract for integrated drilling services at Johan Sverdrup

Statoil is awarding Baker Hughes Norway the onshore contract for integrated drilling services for Johan Sverdrup. The estimated contract value is NOK 1.5 billion and is valid for six years with a four-year extension option for the entire field life. The servic ...

Plexus expands into China, announcing collaboration agreement with three services companies

Plexus Holdings PLC, the AIM quoted oil and gas engineering services business and owner of the proprietary POS-GRIP® friction-grip method of wellhead engineering, announces a collaboration agreement with China Oilfield Services Limited, a major integrated ...

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 ...
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