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Oil Prices: Same As 200 Apples And Googles Going Bust

NO less than $119 trillion (or $119,000 billion) has been wiped off the value of the world's proven oil reserves. YES, that's right, if you look at the data on proven oil reserves in the CIA factbook, as John Mauldin did to verify calculations originally made by David ...
North America | Wednesday, February 10, 2016

Seventy Seven Energy announces preliminary 2015 full year and fourth quarter operational and financial results

Seventy Seven Energy Inc. (NYSE: SSE) today reported preliminary estimated and unaudited financial and operational results for the 2015 full year and fourth quarter. Key information related to the 2015 full year and fourth quarter results is as follows: Full-year Total ...
North America | Wednesday, February 10, 2016

Black Mountain Oil and Gas announces partnership with Natural Gas Partners

Black Mountain Oil & Gas, LLC is pleased to announce the closing of a $150 million equity commitment from Natural Gas Partners through NGP Natural Resources XI, L.P., the most recent NGP private equity fund focused on natural resources. The Black Mountain management te ...
North America | Wednesday, February 10, 2016

Kelt Exploration reports significant increases in reserves, undeveloped land and production in 2015 and provides update 2016 guidance

Kelt Exploration Ltd. (TSX: KEL) has released its reserves and operating results for the year ended December 31, 2015. Kelt's audit of its 2015 annual consolidated financial statements has not been completed and accordingly all financial amounts relating to 2015 referr ...
North America | Wednesday, February 10, 2016

Golar LNG Limited sells Golar Tundra to Golar LNG Partners LP

Golar LNG Limited announced today that it has entered into a purchase agreement to sell the Golar Tundra, a floating storage and regasification unit, to Golar LNG Partners LP for a sale price of $330.0 million. In connection with the closing, the Partnership will recei ...
North America | Wednesday, February 10, 2016

The Physics of Energy and the Economy

I approach the subject of the physics of energy and the economy with some trepidation. An economy seems to be a dissipative system, but what does this really mean? There are not many people who understand dissipative systems, and very few who understand how an economy o ...
North America | Wednesday, February 10, 2016


Oil price, Tullow, Circle, Sound, Far Limited, Sundry-Chesapeake- And finally...

Oil price As I mentioned on Monday, this week sees the publication of the short term outlook forecasts from all the major agencies. The IEA thumped the market yesterday by pouring cold water on most bullish scenarios such as non-Opec cooperation, a weak dollar and lowe ...
West Europe | Wednesday, February 10, 2016

Magseis awarded contract for major project in Saudi Arabia

Magseis has, together with its partner BGP, been awarded Saudi Aramco's S78 project for large-scale ocean bottom seismic acquisition in the Red Sea. The project has an expected duration of 9 months + 1 year and is expected to commence during July 2016. The survey featur ...
Middle East | Wednesday, February 10, 2016

Cooper Energy to sell Indonesian exploration assets to Mandala Energy for $8.25 million

Cooper Energy (ASX:COE) announces that it has signed agreements for the sale of its Indonesian exploration assets to Mandala Energy Limited, a South East Asia focused oil and gas exploration and production company, for consideration of US$8.25 million. The sale, which ...
Asia Far East | Wednesday, February 10, 2016

Shell sells its stake in UK North Sea Maclure oil and gas field to Nobel Upstream

Nobel Upstream, the independent UK-based exploration and production company, has announced it has signed a sale and purchase agreement to acquire a 7.59 per cent non-operated interest in the Maclure oil and gas field from Shell. Completion of the transaction remains sub ...
West Europe | Wednesday, February 10, 2016

Tullow Oil announces 2015 results

Tullow Oil plc, the independent oil and gas exploration and production group, announces its full year results for the year ended 31 December 2015. COMMENTING TODAY, AIDAN HEAVEY, CHIEF EXECUTIVE, SAID: 'Today's results demonstrate that Tullow adjusted well to low oil ...
Africa | Wednesday, February 10, 2016

Monday, February 8, 2016

Circle Oil announces operational and financial update

Operational Update Morocco Circle is pleased to announce that it, together with its partner Office National des Hydrocarbures et des Mines ('ONHYM'), has signed a Memorandum of Understanding ('MOU') with a potential new gas customer in Morocco, SBS Porcher ('Porcher') ...
North Africa | Monday, February 8, 2016

Anchors Aweigh: $26 Oil As Your New Starting Point

IF not these six months then it will be the second half of this year and if not H2 then definitely, without a doubt, sometime in 2017. So goes the constantly shifting thinking of some oil, gas and chemicals companies, and some of the independent analysts, on when oil ...
North America | Monday, February 8, 2016

Oil price, Sound Energy, Sundry-Petroceltic-Egdon- And finally...

Oil price That was a funny old week for the oil price, whispers of meetings and Mr Venezuela doing the rounds kept the optimists just in the game but huge stock builds and an uninspiring set of US jobs data left the Fed cooling the market. With the rig count showing a ...
West Europe | Monday, February 8, 2016

Tethys Petroleum provides update on Olisol transaction

Tethys Petroleum Limited (TSX:TPL)(LSE:TPL) today provided an update on the previously announced US$15 million convertible debt facility with Olisol Petroleum Limited , a wholly owned subsidiary of Olisol Investments Limited. Following the Company's announcement on 22n ...
West Europe | Monday, February 8, 2016

Sound Energy announces option to acquire interest in Meridja permit, onshore Morocco

Sound Energy, the Mediterranean and European focused upstream gas company, announces that it has signed a binding agreement with Oil & Gas Investment Fund S.A.S ('OGIF') whereby OGIF has granted Sound Energy an option to acquire a 55% interest in the Meridja permit, ons ...
North Africa | Monday, February 8, 2016
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