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Thursday, January 22, 2015

Faroe Petroleum provides 2014 operational update, positive outlook for the year ahead

Faroe Petroleum (LSE:FPM) provides an operational update for the year ended 31 December 2014. Highlights: Exploration Pil oil discovery in Norwegian Sea announced in March 2014, significantly larger than pre-drill expectations, followed by the successful discovery w ...
West Europe | Thursday, January 22, 2015

Tethys Petroleum downsizes, closing offices and seeing significant staff reductions

Tethys Petroleum Limited (TSX:TPL)(LSE:TPL) provides a further update. The Board and Executive Management believe that good progress has been made since the recent Board changes. Key achievements: Agreement to restructure Georgian project Substantial Corporate G&A a ...
Russia FSU | Thursday, January 22, 2015

Wednesday, January 21, 2015

Senex reduces FY15 capital expenditure by 20%

Senex Energy Limited (Senex, ASX: SXY) has reduced FY15 capital expenditure and other costs to retain its strong funding position in the current volatile oil price environment. Key Points: FY15 capital expenditure guidance reduced from $100 - $120 million to $85 - $9 ...
Australasia | Wednesday, January 21, 2015

Statoil signs detail engineering contract for the Johan Sverdup development with Aker Solutions

Worth NOK 4.5 billion the contract includes engineering and procurement management (EPma) until the scheduled production start in 2019. The contract includes engineering and procurement management for the riser and processing platform topsides for the Johan Sverdrup fi ...
West Europe | Wednesday, January 21, 2015

Montney wells proving successful for Cequence Energy

Cequence Energy Ltd. (TSX: CQE) is pleased to provide an operational update and a capital budget for the first six months of 2015. As previously forecast, Cequence expects 2014 production to average approximately 11,000 boepd. Following the start-up of the expanded 13- ...
North America | Wednesday, January 21, 2015

Lundin Petroleum to takes charges on costs and currency changes

During the fourth quarter of 2014 Lundin Petroleum (OMX:LUPE) achieved an average production rate of 22,000 barrels of oil equivalent per day (boepd) resulting in an average production rate for the full year of 24,950 boepd. The average Brent oil price for the fourth qu ...
West Europe | Wednesday, January 21, 2015

Gear Energy achieve record field production in fourth quarter

Gear Energy Ltd. (TSX:GXE) announces operational highlights for the fourth quarter of 2014 and revised capital guidance for the first half of 2015. 2014 Operational update Gear achieved record field production of approximately 7,275 boe/d in the fourth quarter of 201 ...
North America | Wednesday, January 21, 2015

Chevron sign sales and purchase agreement with SK Group for over 4 million tons of LNG

Chevron Corporation (NYSE: CVX) today announced its Australian subsidiaries have signed a binding Sales and Purchase Agreement (SPA) with SK LNG Trading Pte Ltd (SK). Under the SPA, SK LNG Trading, which is part of a leading industrial conglomerate in South Korea, will ...
Asia Far East | Wednesday, January 21, 2015

Eneabba Gas makes significant progress towards Ocean Hill acquisition

Eneabba Gas Limited (ASX: ENB) advises that significant progress has been made towards completing the acquisition of the Ocean Hill Gas Project and locating a farm-inpartner for Ocean Hill, which is located in the North Perth Basin, Western Australia. Native Title Agr ...
Australasia | Wednesday, January 21, 2015

Genel Energy write off $480 million and announce job cuts

Genel Energy plc (LSE: GENL) issues the following trading and operations update in advance of the Company's full-year 2014 results, which are scheduled for release on 5 March 2015. The information contained herein has not been audited and may be subject to further r ...
Middle East | Wednesday, January 21, 2015

Oil price collapse hurting some more than others

U.S. oil and gas rig counts dropped to their lowest level in over four years, falling by an additional 74 units for the week ending on January 16. The lower count provides fresh evidence that low oil prices are forcing drillers to pare back operations and slash spending ...
North America | Wednesday, January 21, 2015

Cairn Energy completes Catcher development farm out

Cairn announces the completion of the farm out agreement to Dyas UK Limited for the sale of a 10% interest in the Catcher development and adjacent acreage in the UK North Sea for a carry of Cairn's exploration and development costs up to a cap of US$182 million (m) ...
West Europe | Wednesday, January 21, 2015

Tuesday, January 20, 2015

Eni Board of Directors approves bond issue

Eni's Board of Directors this morning approved the possible issue of one or more bonds, to be placed with institutional investors, with a value up to a maximum aggregate amount of 2 billion euro, or its equivalent in other currencies, to be issued in one or more tra ...
East Europe | Tuesday, January 20, 2015

Statoil awards Johan Sverdrup jacket contract to Kværner Verdal

Scheduled for delivery in the summer of 2017, the jacket's contract value is close to NOK 2.0 billion. The contract is an execution of parts of the letter of intent which Statoil entered into with Kværner in 2014 for delivery of two of the four jackets for th ...
West Europe | Tuesday, January 20, 2015

Whither Oil Prices?

The recent collapse in oil prices has taken pundits and oil producers by surprise. It was only six months ago that prices were over $100/bbl and at that time they had been above $100/bbl for three and a half years. In fact the stability had become uncanny, so perhaps we ...
Middle East | Tuesday, January 20, 2015

Baker Hughes announces fourth quarter and annual results

Baker Hughes Incorporated (NYSE: BHI) announced today results for the fourth quarter of 2014. Martin Craighead, Baker Hughes Chairman and Chief Executive Officer commented, "Our fourth quarter results punctuate a record year for our company in 2014. We delivered v ...
North America | Tuesday, January 20, 2015
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