News/Media

Drilling & Production

  • Baker Hughes: US rig count jumps 13 units

    The US drilling rig count was up 13 units to 1,059 the week ended May 25, according to Baker Hughes data. The count is up 151 units from this time a year ago when the count stood at 908. 

  • Woodside to speed up, add to Scarborough development plans

    Woodside Petroleum Ltd., Perth, would like to accelerate and increase the breadth of its plans through development of the Scarborough natural gas fields on the Exmouth Plateau offshore Western Australia.

     

  • UNCTAD report urges developing countries to view fracing cautiously

    Countries seeking ways to increase access to energy should view hydraulic fracturing cautiously because of possible gaps in local geological and hydrological knowledge, inadequate regulatory environments, and diversion of resources from renewable energy source, a United Nations Conference on Trade and Development (UNCTAD) report recommended on May 24.

  • Borr Drilling buys 5 jack up rigs from Keppel FELS

    Keppel Corp. Ltd., a wholly owned subsidiary of Keppel Offshore & Marine Ltd., has sold five jack up rigs to Borr Drilling Ltd. for $745 million. One rig is scheduled to be delivered in late-2019 with four rigs to be delivered during 2020. 

  • EIA: US crude stockpiles increase 5.8 million bbl

    US crude oil inventories, excluding the Strategic Petroleum Reserve, increased 5.8 million bbl for the week ended May 18, according to US Energy Information Administration data.

  • Iranian sanctions hit work in field off UK

    Recompletion of a well in Rhum gas field in the UK North Sea has been suspended because Iranian Oil Co. (UK) Ltd., a subsidiary of National Iranian Oil Co., holds a 50% interest.

     

General Interest

  • UNCTAD report urges developing countries to view fracing cautiously

    Countries seeking ways to increase access to energy should view hydraulic fracturing cautiously because of possible gaps in local geological and hydrological knowledge, inadequate regulatory environments, and diversion of resources from renewable energy source, a United Nations Conference on Trade and Development (UNCTAD) report recommended on May 24.

  • MARKET WATCH: US crude oil prices follow equity markets down

    Oil futures prices eased May 24 on both London and New York markets. Light, sweet oil prices followed a fall in US equity markets after US President Donald Trump’s announcement calling off a summit with North Korea.

  • Callon to buy certain Permian basin assets from Cimarex for $570 million

    Callon Petroleum, Natchez, Miss., will acquire from Cimarex Energy Co., Denver, certain oil and gas properties principally in Ward County, Tex., for $570 million cash.

  • A unified Europe is essential to its energy security, forum told

    European governments must resist letting controversial proposed projects such as the Nord Stream 2 natural gas pipeline keep them from developing a unified strategy to prevent Russian energy interventions, speakers agreed at a May 24 Atlantic Council forum. 

  • OGA reports awards for 30th offshore licensing round

    The UK Oil & Gas Authority (OGA) has offered for award 123 licenses over 229 blocks or partial blocks to 61 companies in the 30th Offshore Licensing Round. The round was launched on July 25, 2017, and closed for applications on Nov. 21, 2017. Locations vary across the UK Continental Shelf. 

  • Most of RAK on offer in licensing round

    Bids are due in November in an oil and gas licensing round covering most of Ras Al Khaimah, the northernmost member of the United Arab Emirates. The government opened data rooms in the emirate and London last month for seven blocks, four in shallow water and three onshore. The blocks cover 4,340 sq km.

Exploration & Development

  • Woodside to speed up, add to Scarborough development plans

    Woodside Petroleum Ltd., Perth, would like to accelerate and increase the breadth of its plans through development of the Scarborough natural gas fields on the Exmouth Plateau offshore Western Australia.

     

  • Mubadala Petroleum joins Russian venture

    The oil and gas unit of a major Abu Dhabi wealth fund is planning its first major investment in Russia. Mubadala Petroleum and the Russian Direct Investment Fund will acquire a 49% equity interest in Gazpromneft-Vostok to form a joint venture with Gazprom-Neft for development of oil fields in the Tomsk and Omsk regions. 

  • Shell makes sixth discovery in Norphlet deepwater play

    Shell Offshore Inc. reported its sixth oil discovery in the Norphlet geologic play in the deepwater US Gulf of Mexico. Drilled to a total vertical depth of 29,000 ft, the Dover well encountered 800 net ft of pay in the Jurrassic Norphlet.

     

  • OGA reports awards for 30th offshore licensing round

    The UK Oil & Gas Authority (OGA) has offered for award 123 licenses over 229 blocks or partial blocks to 61 companies in the 30th Offshore Licensing Round. The round was launched on July 25, 2017, and closed for applications on Nov. 21, 2017. Locations vary across the UK Continental Shelf. 

  • Most of RAK on offer in licensing round

    Bids are due in November in an oil and gas licensing round covering most of Ras Al Khaimah, the northernmost member of the United Arab Emirates. The government opened data rooms in the emirate and London last month for seven blocks, four in shallow water and three onshore. The blocks cover 4,340 sq km.

  • Total seeks interest in Block 8 off Cyprus

    Total is seeking an interest in a block off Cyprus west of where Turkish military vessels in February blocked drilling planned by Eni. Stephane Michel, president, Middle East and North Africa of Total Exploration & Production, told reporters after a meeting with Cypriot President Nicos Anastasiades that the company had applied for an interest in Block 8.