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Wednesday, July 27, 2016

Hess Corporation reports net loss of $392 million

Second Quarter Highlights: Net loss was $392 million, or $1.29 per common share, compared with a net loss of $567 million, or $1.99 per common share, in the prior-year quarter Adjusted net loss was $335 million, or $1.10 per common share, compared to an adjusted net los ...
North America | Wednesday, July 27, 2016

Mitra Energy to acquire 100% interest in Stag Oilfield

Mitra Energy Inc. (TSX VENTURE:MTE) is pleased to announce that Mitra Energy (Australia) Pty Ltd, a wholly owned subsidiary of Mitra, as buyer, and Mitra, as guarantor, have signed a definitive Sale & Purchase Agreement with Quadrant Northwest Pty Ltd and Santos Offshor ...
Australasia | Wednesday, July 27, 2016

Venari Resources increases ownership in Deepwater Shenandoah Field, announces successful results from latest appraisal well

Venari Resources LLC, a deepwater oil exploration and production company in the Gulf of Mexico, announced today that it has acquired an additional seven percent working interest in the Shenandoah field on Walker Ridge Blocks 51, 52 and 53. The company also reported succ ...
North America | Wednesday, July 27, 2016

Genel Energy announces receipt of payment for Taq Taq oil exports

Genel Energy plc is pleased to announce that the Taq Taq field partners have received a gross payment of $24.91 million from the Kurdistan Regional Government for oil sales during June 2016. Genel's net share of the payment is $13.70 million. The payment reflects full ...
Middle East | Wednesday, July 27, 2016

Australia is missing out on tax revenue from gas projects

Despite huge investment from the liquefied natural gas (LNG) industry, the revenue generated by taxing gas is falling. This is in part because of lower gas prices but it's also due to the complexity of the tax system, where only eight projects are actually paying the pe ...
Australasia | Wednesday, July 27, 2016

Global Oilfield Services - Offshore Spending Stuck in the Doldrums

2016 will see the start of a barren period for the offshore oilfield service (OFS) sector. A significant drop in project sanctioning brought about by the downturn, coupled with low rig dayrates, will see annual expenditure average $48.6 billion (bn) over 2016-2020, 25% ...
North America | Wednesday, July 27, 2016

Fluenta signs two-year agreement with Statoil

Fluenta, a global leader in ultrasonic measurement and management technology, today announces a two-year framework agreement with Statoil. The framework agreement positions Fluenta as a preferred supplier of flare gas meters to Statoil, and will streamline the order an ...
West Europe | Wednesday, July 27, 2016

Oil price, Sound Energy, Range Resources, And finally...

Oil price A mixed day for crude, very quiet as traders contemplated inventory stats that would likely show that WTI is suffering more that Brent at the moment. In the end they turned out to be right, the API numbers, after the close, were worse than expected, it was a ...
West Europe | Wednesday, July 27, 2016

Nostrum Oil & Gas provides operations update for first half 2016

Nostrum Oil & Gas PLC (LSE: NOG), an independent oil and gas company engaging in the production, development and exploration of oil and gas in the pre-Caspian Basin, today announces its operational update for the six month period ended 30 June 2016. This update is being ...
Russia FSU | Wednesday, July 27, 2016

Sound Energy announces Schlumberger investment in Badile well

Sound Energy, the Mediterranean focused upstream gas company, is pleased to announce the signature of an agreement with Schlumberger group entities whereby Schlumberger has agreed to fund Euro 7.5 million of services to be provided by Schlumberger on the forthcoming Bad ...
East Europe | Wednesday, July 27, 2016

Overly Simple Energy-Economy Models Give Misleading Answers

Does it make a difference if our models of energy and the economy are overly simple? I would argue that it depends on what we plan to use the models for. If all we want to do is determine approximately how many years in the future energy supplies will turn down, then a ...
North America | Wednesday, July 27, 2016

Tullow Oil announces results for first half of 2016

Tullow Oil plc (Tullow), the independent oil and gas exploration and production group, announces its half year results for the six months ended 30 June 2016. COMMENTING TODAY, AIDAN HEAVEY, CHIEF EXECUTIVE, SAID: 'The start of production from the TEN field in early Au ...
Africa | Wednesday, July 27, 2016

Technip awarded large subsea contract for Greater Enfield development by Woodside

Technip has been awarded a large subsea contract by Woodside to support the development of the Greater Enfield Project offshore Western Australia, at a water depth comprised between 340 and 850 meters. The contract covers project management, design, engineering, procur ...
Australasia | Wednesday, July 27, 2016

Statoil announces $913 million adjusted earnings in second quarter 2016

Statoil (OSE:STL, NYSE:STO) reports net operating income of USD 180 million and adjusted earnings of USD 913 million in the second quarter of 2016. The second quarter was characterised by Solid operational performance - while financial results are affected by low price ...
West Europe | Wednesday, July 27, 2016

Cue Energy reports on second quarter 2016

In June Cue announced its three strategic objectives to deliver short, medium, and long-term prosperity: To have a sustainable business operating within its means; To deliver disciplined growth; whilst Pursuing opportunities that offer step-change returns to shareholder ...
Australasia | Wednesday, July 27, 2016

Senex Energy announces preliminary outlook for FY2017, plans to increase activity

Senex Energy Limited (Senex, ASX:SXY) provides its preliminary outlook for FY17 during which the Company will increase activity whilst maintaining financial strength and liquidity. Commencement of Western Surat Gas Project appraisal, targeting wells online by end 2016 C ...
Australasia | Wednesday, July 27, 2016
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