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Friday, August 26, 2016

Oil Market Jigsaw Puzzle: Putting The Pieces Together

THE data has long told us that the efficiency of the US shale oil process is constantly improving. For instance, the above chart shows that in just in one shale-oil field in the US - the Bakken in North Dakota and Montana - the amount of oil each well can produce impro ...
North America | Friday, August 26, 2016

Lucas Energy enters agreement to fund development of Eagle Ford shale assets

Lucas Energy, Inc. (NYSE MKT: LEI), an independent oil and gas company with its operations in central Texas, today announced that its wholly-owned subsidiary, CATI Operating, LLC ('CATI'), entered into an agreement with its senior lender, as evidenced by a promissory no ...
North America | Friday, August 26, 2016

Altura Energy announces acquisition of oil assets in East Central Alberta

Altura Energy Inc. (TSX Venture: ATU) is pleased to announce it has entered into an agreement to purchase high quality oil assets strategically located in east central Alberta for cash consideration of $4.0 million, subject to customary closing adjustments. The Assets a ...
North America | Friday, August 26, 2016

Renaissance Oil Corp nnounces acquisition of its fourth block in Mexico

Renaissance Oil Corp. (TSX-V: ROE) is pleased to announce the Company has entered into a license contract for the development of the Pontón block in Veracruz, Mexico. Pontón is approximately 12km² (2,965 acres) and now the fourth property, in Mexico, ...
North America | Friday, August 26, 2016

MCW Energy Group closes acquisition of controlling stake of E&P company

MCW Energy Group Limited (TSX VENTURE:MCW)(OTCQX:MCWEF), a Canadian holding company involved in the development of environmentally-friendly oil sands technologies and the production of oil from Utah's oil sands, announces the closing of a previously announced definitive ...
North America | Friday, August 26, 2016

Antrim Energy announces 2016 second quarter results

Antrim Energy Inc. (TSX VENTURE:AEN)(AIM:AEY), an international oil and gas exploration company, today reported its financial results for the three and six month period ended June 30, 2016. All financial figures are unaudited and in US dollars unless otherwise noted. ...
North America | Friday, August 26, 2016

Guidon Energy and Blackstone Energy Partners announce a new Permian Basin platform and first asset acquisition

Guidon Energy ('Guidon'), an oil and gas partnership headquartered in Dallas, Texas, and Blackstone Energy Partners, an affiliate of Blackstone (NYSE:BX), announce their recently formed platform company in the Midland Basin and purchase in April of this year of approxim ...
North America | Friday, August 26, 2016

Oil price, Sound Energy, Victoria Oil & Gas, Falcon Oil & Gas, And finally...

Oil price A lot of to-ing and fro-ing in the oil markets which will probably end up slightly down on the week. After the poor inventory stats yesterday was up, partly as Iran confirmed that it would attend the Opec 'meeting' in Algeria and partly as there was a spot of ...
West Europe | Friday, August 26, 2016

Petro Matad announces interim results for the first half of 2016

Petro Matad Limited, the AIM quoted Mongolian oil explorer, is pleased to announce its unaudited interim results for the six months ended 30 June 2016. Financial Summary The Group posted a profit of USD 0.1 million for the six-month period ended 30 June 2016, which co ...
Asia Far East | Friday, August 26, 2016

PJSC Tatneft announces second quarter 2016 results

PJSC Tatneft announces today that it published the unaudited consolidated interim condensed financial statements for the three and six months ended 30 June 2016. The Company's consolidated sales and other operating revenues net of export duties and excise tax in the se ...
Russia FSU | Friday, August 26, 2016

Thursday, August 25, 2016

The North Sea Oilfield Service Market - Dead or alive?

The oilfield service markets in Norway and the United Kingdom have felt the market downturn harder than other offshore nations. Deep cuts in activity and pressure on price have led to mass lay-offs in Stavanger and Aberdeen. But is the oilfield service industry in this ...
West Europe | Thursday, August 25, 2016

It will take more than giving people a share in shale gas profits to sway public opinion on fracking

Britain is due to receive its first delivery of shale gas imported from the US, which will arrive at Grangemouth petrochemical plant in Scotland next month. That the UK is importing a tanker-full of shale gas from the US despite sitting on substantial resources of its o ...
West Europe | Thursday, August 25, 2016

OPEC's Output Freeze: What Has Changed Since Doha?

It's possible that OPEC is crying wolf with hints of an output freeze next month in Algiers; but it's also possible that they are ramping up production to take the sting out of a freeze. This is a delicate balancing act that the Saudis need to play very carefully. The ...
Middle East | Thursday, August 25, 2016

Seadrill announces second quarter 2016 results

Highlights Revenue of $868 million Operating income of $364 million EBITDA of $557 million 98% economic utilization Reported Net Income of $276 million and diluted earnings per share of $0.52 Cash and cash equivalents of $1.3 billion The Seadrill Group achieved 99% econ ...
West Europe | Thursday, August 25, 2016

Atlantic Petroleum announces second quarter 2016 results

P/F Atlantic Petroleum (NASDAQ Copenhagen: ATLA DKK & Oslo Stock Exchange: ATLA NOK) today announces its results for the second quarter of 2016. Highlights & Outlook EBITDAX for 2Q was negative with DKK 1.5MM. Gross profit in 2Q 2016, after certain reversal of previous ...
West Europe | Thursday, August 25, 2016

AWE Limited announces full-year financial results

Total production of 5.0 mmboe in line with previous year Sales revenue of $202.4 million, including realised oil hedge gains, down 29% Operating costs reduced by 21% to $110.4 million and G&A expenses reduced by 41% to $10.0 million Field EBITDAX of $92.0 million, down ...
Australasia | Thursday, August 25, 2016
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