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Friday, April 17, 2015

Oil price, Schlumberger, Northern Petroleum, Plexus, Sound Oil, And finally...

Oil price With the expiry of the May Brent contract on Wednesday the last 48 hours has seen quite a swing in prices, indeed at one stage yesterday it nearly reached $65 having been below $58 on Tuesday. Bulls were on the Twitter machine yesterday asking if I had change ...
West Europe | Friday, April 17, 2015

How falling commodity prices have flattered Chinese GDP in 2015

What's in a number? Quite a lot when it comes to Chinese GDP. Especially when it's 7%, which was the real growth rate of the Chinese economy in the first quarter of 2015, compared to the first quarter of last year, according to the Chinese National Bureau of Statistics ...
Asia Far East | Friday, April 17, 2015

Kelt Exploration completes acquisition of Artek Exploration

Kelt Exploration Ltd. (TSX: KEL) (TSX: RTK) and Artek Exploration Ltd. are pleased to announce the successful acquisition by Kelt of all of the issued and outstanding common shares of Artek pursuant to the previously announced plan of arrangement between Kelt, Artek and ...
North America | Friday, April 17, 2015

Magellan Petroleum comments on Horse-Hill 1 and provides Markwells Wood update

Magellan Petroleum Corporation (NASDAQ: MPET) today commented on certain recent announcements made by its partners in the Horse Hill-1 well in southern England. On April 9, 2015, UK Oil & Gas Investments PLC, an approximately 31% indirect owner of HH-1, announced that ...
West Europe | Friday, April 17, 2015

Schlumberger to cut a further 11,000 jobs following first-quarter results

Houston, April 16, 2015-Schlumberger Limited (NYSE:SLB) today reported results for the first-quarter 2015. First-quarter revenue of $10.2 billion decreased 19% sequentially First-quarter EPS of $1.06, excluding charges and credits, declined 29% sequentially First-quarte ...
North America | Friday, April 17, 2015

Plexus expands into South America with new contract win

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, known for its safety, time and cost saving capabilities, has secured its first contract with Cardon IV, ...
South America | Friday, April 17, 2015


Petsec Energy increases interest in Block 7, Yemen with acquisition of Oil Search subsidiary

Petsec Energy advises it has executed an agreement with Oil Search Limited (ASX: OSH) to acquire all the shares of its subsidiary Oil Search (ROY) Limited which holds a 34% participating interest in Block 7, Al Barqa Permit, in the Republic of Yemen, and is the designat ...
Middle East | Friday, April 17, 2015

Thursday, April 16, 2015

Hedging Helps Canadian Oil & Gas Companies in Low Price Climate

Canadian oil and gas companies that hedged their oil production before the global oil price crash will be very relieved they did so. This CanOils study of 45 TSX-listed companies' Q4 2014 results (see note 1) shows that many Canadian companies made large realized hedgin ...
North America | Thursday, April 16, 2015

Ikkuma Resources Corp. announces fourth-quarter and year-end 2014 financial and operating results

Ikkuma Resources Corp. (TSXV: IKM) is pleased to report its financial and operating results for the fourth quarter and year ended December 31, 2014. In addition, the Corporation today announces the filing of its Annual Information Form for the year ended December 31, 20 ...
North America | Thursday, April 16, 2015

Venoco announces 2014 financial and operating results and year-end reserves

Venoco, Inc. today reported financial and operational results for the fourth quarter and full-year 2014. The company reported net income for the year of $120 million on total revenues of $224 million. Adjusted Earnings, which adjusts for unrealized derivative gains and ...
North America | Thursday, April 16, 2015

Pinecrest Energy and Cardinal Energy close plan of arrangement

Pinecrest Energy Inc. (TSX VENTURE:PRY) and Cardinal Energy Ltd. (TSX:CJ) announce the completion of the previously announced reorganization of the business of Pinecrest pursuant to a plan of arrangement involving Cardinal, Virginia Hills Oil Corp., the Company and the ...
North America | Thursday, April 16, 2015

Madagascar Oil announces approval of Tsimiroro development plan

Madagascar Oil confirms the award of the Development Mining Title for the Block 3104 Tsimiroro Production Sharing Contract by the President of Madagascar, H.E. Hery Rajaonarimampianina, following a joint proposal by the Minister at the Presidency in charge of Mines and ...
Africa | Thursday, April 16, 2015

Oil price, Northern Petroleum, And finally...

Oil price A swift blog this morning as I am out and about with companies and doing some work with the BBC on the Falklands. The oil price certainly had a fair wind yesterday and those traders I mentioned who wanted Brent to go out with a bang and close above $59 were ...
West Europe | Thursday, April 16, 2015

TGS and Dolphin Geophysical sign joint venture agreement to acquire new multi-client 3D in Barents Sea

TGS announces that it has signed a joint venture agreement with Dolphin Geophysical (DOLP) to acquire 4,500 km2 3D multi-client seismic survey over the western part of the Hammerfest Basin in the Barents Sea. The survey will provide industry with broadband data over APA ...
West Europe | Thursday, April 16, 2015

Technip awarded FEED contract by CNOOC

Technip and its consortium partner China Offshore Oil Engineering Company (COOEC) have been awarded a front end engineering design (FEED) contract by China National Offshore Oil Corporation Limited (CNOOC Ltd.) for two tension leg platforms (TLPs) for the Liuhua 11-1 an ...
Asia Far East | Thursday, April 16, 2015

Wednesday, April 15, 2015

A shale gas wealth fund for northern England, but what about the south?

The UK's Conservative party, running neck-to-neck in the polls with the Labour party ahead of the country's May 7 general election, has released its 2015 manifesto. Among the commitments is a pledge to establish a shale gas wealth fund for the north of England. UK Prim ...
West Europe | Wednesday, April 15, 2015
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