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Oil price, Ithaca, Petrofac, President, Afren, And finally...

Oil price Another hike in the crude price yesterday and as not much has changed on fundamentals we should assume that the market is adding a modest geopolitical premium in for hostilities in Syria. With Russia and Saudi Arabia on different sides on this one the likelih ...
West Europe | Friday, October 9, 2015

Lundin Petroleum sells its Indonesian business

Lundin Petroleum AB is pleased to announce the signing of a sale and purchase agreement with PT Medco Energi Internasional TBK, to sell its oil and gas assets in Indonesia. The Indonesian assets include the non-operated interest in the producing Singa gas field and the ...
Asia Far East | Friday, October 9, 2015

Thursday, October 8, 2015

Royale Energy reaches agreement to develop Sacramento Basin Grimes Field

Royale Energy, Inc. (NASDAQ:ROYL) today announced that it has reached an agreement, with a major independent exploration and production company, to develop 1,300 acres in the Sacramento Basin Grimes Field. This agreement allows Royale to drill up to three wells targetin ...
North America | Thursday, October 8, 2015

Supernova Energy provides corporate update

Supernova Energy Inc. (OTC PINK: SPRN) is pleased to provide a corporate update. Supernova Energy in recent months has commenced evaluation of its Kansas holdings and has also acquired acreage in Kentucky. Supernova Energy has reached an agreement in principle with its ...
North America | Thursday, October 8, 2015

Resolute Energy Corporation closes sale of Powder River Basin assets

Resolute Energy Corporation (NYSE: REN) announced today that it has closed the sale of its Hilight Field assets in the Powder River Basin to a private party for a purchase price of $55 million. The transaction has an effective date of July 1, 2015. The net proceeds of t ...
North America | Thursday, October 8, 2015

US Oil Exports And The Struggle For Jobs

THERE are few other genuine long-term bright spots in the US economy other than shale oil and shale gas unless you are at the very top of the economic pile and so view cloud computing, social media and internet search engines as equivalent to 'Morning in America' again. ...
North America | Thursday, October 8, 2015

West Coast petroleum markets differ by supply, demand, and distribution

Source: U.S. Energy Information Administration, PADD 5 Transportation Fuels Markets Note: Gasoline supply includes ethanol. The U.S. Energy Information Administration released a PADD 5 Transportation Fuels Markets study on September 30 that examines supply, demand, an ...
North America | Thursday, October 8, 2015

Q3 2015 Oil & Gas M&A Slides to $18.2 Billion

Evaluate Energy's new report 'Q3 2015 Oil & Gas M&A Slides to $18.2 Billion' shows that the total value of upstream oil and gas deals reached $18.2 billion during Q3 2015, a value that represents a 61% shortfall compared to the average quarterly E&P M&A spend in the pas ...
North America | Thursday, October 8, 2015

Encana Corporation reaches agreement to sell DJ Basin assets for $900 million

Encana Corporation (TSX: ECA)(NYSE: ECA) announced today that its wholly-owned subsidiary, Encana Oil & Gas (USA) Inc., has reached an agreement to sell its Denver Julesburg (DJ) Basin assets in Colorado to a new entity 95 percent owned by Canada Pension Plan Investment ...
North America | Thursday, October 8, 2015

AGL Energy secures long-term gas storage rights

AGL Energy Limited today announced that it has secured long term gas storage rights utilising the Iona Gas Storage Facility. EnergyAustralia commenced a sale process for the Iona Gas Storage Facility in June 2015. QIC Limited today announced that Iona Operations Pty Lt ...
Australasia | Thursday, October 8, 2015

Oil price, Tethys, Sundry-Pantheon-Tullow- And finally...

Oil price A slightly quieter day in the oil markets with the EIA inventory stats just taking the edge off the recent rally. Analysts had been expecting a build, even after the API report of a modest draw and so seeing stocks up by 3.1m barrels was disappointing but not ...
West Europe | Thursday, October 8, 2015

Statoil awards contracts for Johan Sverdrup drilling jacket to Kværner Verdal and Dragados Offshore

On behalf of the Johan Sverdrup licence, Statoil is today awarding contracts for two Johan Sverdrup jackets to Kvaerner Verdal and Dragados Offshore S.A. The contract awarded to Kvaerner Verdal has a value of approximately NOK 1 billion and covers engineering, fabricat ...
West Europe | Thursday, October 8, 2015

Tullow Oil reaches agreement with Gabon government over Onal Complex Fields licences

Tullow Oil plc is pleased to announce that it has reached agreement with the Government of Gabon over its licences in the Onal Complex Fields. Following negotiations, Tullow has regained its 7.5% stake in the Onal Complex producing fields and the Ezanga block (formerly ...
Africa | Thursday, October 8, 2015

Wednesday, October 7, 2015

Petrogrand and Shelton Petroleum announce strategic business combination

Petrogrand and Shelton Petroleum have entered into an agreement to form a combined and enlarged oil group with Russian oil assets exclusively Shelton Petroleum will according to the agreement issue 17,500,000 B shares for a contribution by Petrogrand of (i) its 49% own ...
Russia FSU | Wednesday, October 7, 2015

Black Stallion Oil & Gas acquires remaining 50% working interest in Woodrow Prospect, Montana

Black Stallion Oil & Gas, Inc. (OTCQB:BLKG) has acquired the remaining 50% Working Interest (WI) in the 12,233-acre Woodrow Prospect in Teton county, northwest Montana, within the Alberta Basin Bakken fairway. The Company is pleased to confirm it now holds a 100% WI in ...
North America | Wednesday, October 7, 2015

Oil stocks at record levels as demand growth slows, supply rises

OECD oil inventories have never been higher. They were 2.9mb at the end of July, and are expected to have risen further since then, according to energy watchdog the International Energy Agency: In terms of days of forward cover, they are now at 63 days in the OECD over ...
North America | Wednesday, October 7, 2015
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