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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

Producer's Breakeven Oil Prices - Why Flip Flop?

Not very long ago oil prices were traded well below $20/BBL and OPEC anxiously come up with a mechanism what was called 'OPEC Price Band' between $22-$28/BBL. That is if the oil prices falls within this price band, OPEC members are quite happy as this price range was su ...
Middle East | Monday, February 8, 2016

Genel Energy receives payment for KRI oil exports from Tawke field

Genel Energy plc notes the announcement from DNO ASA, as operator of the Tawke field, that the Tawke field partners have received a gross payment of $17.99 million towards the monthly entitlement for January, for oil exported through the Kurdistan Region of Iraq-Turkey ...
Middle East | Monday, February 8, 2016

DNO reports payment for Tawke exports

DNO ASA, the Norwegian oil and gas operator, today reported receipt of USD 21.45 million from the Kurdistan Regional Government for exports from the Tawke field under a new payment arrangement announced on 1 February 2016. The payment, to be shared pro-rata by DNO and ...
Middle East | Monday, February 8, 2016

Suncor Energy announces successful acquisition of 72.9% of Canadian Oil Sands shares

Suncor announced today that approximately 72.9 per cent of Canadian Oil Sands shares equating to 353,307,264 common shares and accompanying rights have been tendered to Suncor's Offer. Suncor will take up all tendered shares and those shares will be paid for in accorda ...
North America | Monday, February 8, 2016

Husky Energy announces short-term hedging plan

Husky Energy (TSX: HSE) announced today that it has put in place a short term hedging plan for a portion of its oil production. Husky generally manages commodity price risk through its strong balance sheet and integrated business model, rather than financial instrument ...
North America | Monday, February 8, 2016

Friday, February 5, 2016

Oil Production Vital Statistics January 2016

Market fundamentals point to chronic over-supply of crude oil throughout 2016. The technicals point to the makings of an oil price rally. A strong price rally from current levels may extend the situation of chronic over-supply that may have a debilitating impact on the ...
North America | Friday, February 5, 2016

Osage Exploration and Development files for bankruptcy

Osage Exploration and Development, Inc. (OTCBB: OEDV), an independent exploration and production company focused on the Horizontal Mississippian and Woodford plays in Oklahoma, announced that on Tuesday, February 3, 2016, it filed a voluntary petition for relief under C ...
North America | Friday, February 5, 2016
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