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Thursday, February 26, 2015

Whiting Petroleum announces 2014 financial and operating results, production up 22% over 2013

Record 2014 Production; 41.8 MMBOE (114.5 MBOE/d) Up 22% Over 2013 Q4 2014 Production of 131,260 BOE/d Up 13% Over Q3 2014 Proved Reserves Increase 78% to a Record 780.3 MMBOE Company Achieves 923% Reserve Replacement Q4 2014 Adjusted Net Income of $58 Million or $0.44 ...
North America | Thursday, February 26, 2015

Fluor Partnership awarded natural gas development contract in Brazil

Fluor Corporation (NYSE: FLR) announced that its CFPS Engenharia e Projetos, S.A., consortium with Construcap Engenharia e Comércio was awarded an engineering and design contract by exploration and production company Parnaíba Gás Natural (PGN) for a ...
South America | Thursday, February 26, 2015

Clayton Williams Energy announces plans for 2015 and provides an operations update on its core development areas

Clayton Williams Energy, Inc. (NYSE:CWEI) today provided insight on its plans for 2015 and an update on its Eagle Ford and Delaware Basin operations. Plans for 2015 The Company announced today that its strategy for 2015 is to preserve the Company's ability to resume l ...
North America | Thursday, February 26, 2015

Ensco reports full-year 2014 results and announces expense management plans

Ensco plc (NYSE: ESV) today reported fourth quarter 2014 results that included: $2.998 billion or $12.93 per share of non-cash goodwill impairments in continuing operations $925 million or $3.77 per share of non-cash asset impairments $517 million or $2.21 per share in ...
West Europe | Thursday, February 26, 2015

PA Resources year-end report, liquidation of company to be discussed

Full Year Group revenue totalled SEK 603 million (1,049) EBITDA was SEK -480 million (-494) Profit after tax was SEK -2,957 million (-1,219) Earnings per share were SEK -26.13 (-21.54) The Board of Directors proposes to the Annual General Meeting that no dividend be pai ...
West Europe | Thursday, February 26, 2015

Empire Oil & Gas satisfies final condition in acquisition of ERM Power's gas assets

Empire Oil & Gas announces that the final remaining condition precedent to allow Empire to complete the acquisition of ERM Power Limited's (ASX: EPW) interests in carious production licenses and exploration permits has now been satisfied. Approvals from the WA Departme ...
Australasia | Thursday, February 26, 2015


Role of Wages of the Common Worker in Oil Prices, Collapse

In their book Secular Cycles, Peter Turchin and Surgey Nefedof point out the important role falling wages of the common workers played in early collapses. I got to thinking that this might be an issue with our current situation as well, including the low level of oil pr ...
North America | Thursday, February 26, 2015

Seadrill announces fourth quarter 2014 results

Seadrill Limited, announces its fourth quarter results for the three months ended December 31, 2014. Commenting today, Per Wullf, CEO and President of Seadrill Management Ltd., said: 'Together with the rest of the industry, we are facing challenging times. Seadrill ope ...
North America | Thursday, February 26, 2015

Premier Oil announce annual results for 2014

Tony Durrant, Chief Executive, commented: 'Despite the challenging macroeconomic circumstances, the group delivered record production and operating cashflow in 2014. In 2015, we will continue to optimise our stable production base, push forward with approved developmen ...
West Europe | Thursday, February 26, 2015

Caza Oil & Gas and Clayton Williams Energy terminate farm-out agreement

Caza Oil & Gas, Inc. (TSX: CAZ) (AIM: CAZA) announces that, further to the announcement on November 12, 2014 regarding a farmout and exploration agreement entered into with Clayton Williams Energy, Inc. (CWEI), the Agreement has now been terminated by mutual agreement. ...
North America | Thursday, February 26, 2015

Canadian Overseas Petroleum and Shoreline Energy form joint venture in sub-Saharan Africa.

Canadian Overseas Petroleum Limited (TSX-V: XOP, LSE: COPL), the offshore Africa focussed oil and gas exploration and development company, is pleased to announce details of the joint venture partnership it has entered into with Shoreline Energy International Limited, a ...
Africa | Thursday, February 26, 2015

Wednesday, February 25, 2015

Oil price, Petrofac/Ithaca, Gulf Keystone, San Leon, Petroceltic, Providence Resources, And finally...

Oil price Another late and brief blog, much to expand on later in the week I hope. With Janet Yellen doing her testimony to the Senate Banking Committee markets waited to hear news of US recovery and growth, overall it was good news but only just, instead of being at l ...
West Europe | Wednesday, February 25, 2015

Marquee Energy Ltd. announces strategic acquisition to further consolidate core Michichi area

Marquee Energy Ltd. (TSXV: MQL) announces that it has entered into an agreement to acquire light oil assets complementary to the Company's existing core asset base and infrastructure at Michichi. The strategic acquisition includes approximately 330 boe/d (79% oil & NGLs ...
North America | Wednesday, February 25, 2015

Legend Oil and Gas to acquire Maxxon Energy in equity purchase

Legend Oil and Gas ltd (LOGL) is pleased to announce that it has entered into a nonbinding letter of intent (LOI) with Black Diamond Energy Holdings, LLC (dba Maxxon Energy and related companies- together Maxxon), to purchase 100% of its limited liability company member ...
North America | Wednesday, February 25, 2015

TransCanada to sell remaining 30% interest in GTN to TC Pipelines

TransCanada Corporation (TSX:TRP) (NYSE:TRP) today announced that it has entered into an agreement to sell its remaining 30 per cent interest in Gas Transmission Northwest LLC (GTN) to its master limited partnership, TC PipeLines, LP (NYSE:TCP). 'This agreement is part ...
North America | Wednesday, February 25, 2015

Pacific Energy Development enters into three major agreements, positions company for long term growth

Pacific Energy Development (NYSE MKT: PED), an energy company engaged in the acquisition and development of strategic, high-growth energy projects in the United States, today announced entry into three major agreements that strengthens the Company for long-term success ...
North America | Wednesday, February 25, 2015
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