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Atlas Oil to sell BP branded assets in Chicago and NW Indiana

Atlas Oil Company announced Atlas Oil's planned sale of its BP branded assets in Chicago and NW Indiana to Parent Petroleum Inc. and Lehigh Gas Partners LP.
North America | Thursday, April 17, 2014

Gulf Keystone Petroleum announces settlement of US$250 million debt financing

Gulf Keystone announce the settlement and closing of its successful debt offering of US$250 million in three-year senior unsecured notes due April 2017, which have been privately placed in accordance with Reg S/144A with institutional investors in Europe, the US and Asia. The offering contained freely tradeable and detachable warrants relating to 40 million common shares in the Company.
North America | Thursday, April 17, 2014

Lazio Regional Administrative Court has rejected the appeal filed by Medoilgas

The Board of Mediterranean Oil & Gas Plc (AIM: MOG) announces that, following the tribunal hearing held on 9 January 2014 in Rome, the Lazio Regional Administrative Court has rejected the appeal filed by Medoilgas Italia S.p.
East Europe | Thursday, April 17, 2014

Why Hubbert was wrong. US petroleum production In 2014

Combined production of crude oil, gas and condensates in the United States is on course to a hit a record this year, passing the previous peak set in 1972. The rise in output has confounded the famous forecast made by Shell geologist M King Hubbert who predicted that U.
North America | Thursday, April 17, 2014

Calfrac announces organizational changes

Calfrac Well Services Ltd. (TSX- CFW) announce that Bruce Payne, formerly Calfrac's Vice President, Global Operations, has been appointed as President of Calfrac's Canadian Division to replace Rob Montgomery, who recently resigned from such position.
North America | Thursday, April 17, 2014

GDF Suez loses legal case on 1 billion euros in Belgian nuclear tax

French utility GDF Suez's Belgian subsidiary said a Brussels court had ruled in favour of the government in a case over about 1 billion euros ($1.4 billion) in taxes levied on its profits from generating nuclear power.
West Europe | Thursday, April 17, 2014

McDermott signs agreement for North Sea spoolbase

McDermott International, Inc. (NYSE: MDR) announced that one of its subsidiaries has signed an option agreement with PD Ports which gives it the exclusive right to operate a spoolbase to serve projects in the North Sea.
West Europe | Thursday, April 17, 2014

A 'Tidal Wave' of USGC refined product exports

With crude oil output in North America raining down on U.S.
North America | Thursday, April 17, 2014

Contingency Planning: the value to oil and gas companies in high-risk areas

This article has been drafted by Mark Theobald of Mars Omega LLP, a former senior British army officer with considerable operational experience and an expert in contingency planning. Editing and addition of whimsical ephemera by Anthony Franks.
Russia FSU | Thursday, April 17, 2014

Magellan teceives post-completion payment for sale of onshore Australia assets

Magellan Petroleum Corporation (NASDAQ: MPET) announced that on April 15, 2014, it received the final AUD $5 million payment contemplated by the Share Sale and Purchase Deed (the "Sale Deed") entered into with Central Petroleum Limited ("Central") (ASX: CTP) for the sale of the Company's onshore Australia assets (the "Transaction"). Previously, the Company announced the completion of the Transaction on March 31, 2014.
Australasia | Thursday, April 17, 2014

Western Refining announces new Delaware Basin pipeline project

Western Refining, Inc. (NYSE:WNR) announced today an additional pipeline project in the Delaware Basin.
North America | Thursday, April 17, 2014

Schlumberger announces first-quarter 2014 results

Schlumberger Limited (NYSE:SLB) today reported first-quarter 2014 revenue from continuing operations of $11.24 billion versus $11.
North America | Thursday, April 17, 2014

Gas storage Bergermeer starts partial commercial operations

TAQA, the international energy and water company from Abu Dhabi, announced the start of preliminary commercial operations at its Gas Storage Bergermeer facility in the Netherlands. When complete in 2015, Bergermeer will nearly double the Netherlands' capacity and become the largest third party access gas storage facility in Europe.
West Europe | Thursday, April 17, 2014

Total discovers oil in deep offshore Ivory Coast

The Total-operated Saphir-1XB exploration well on Block CI-514 proved the presence of liquid hydrocarbons in the deep offshore west of Ivory Coast. 'Drilled in an abrupt margin play, this first well is the first discovery in the San Pedro Basin, a frontier exploration area in Ivory Coast,' commented Marc Blaizot, Senior Vice President, Exploration at Total.
Africa | Thursday, April 17, 2014

First Mountain Exploration announces filing of 2013 financials and reserve data, provides operational update and announces the appointment of a new CFO

First Mountain Exploration Ltd. (TSX Venture: FMX) has filed on SEDAR its audited annual financial statements ("Financial Statements") and management's discussion and analysis ("MD&A") for the year ended December 31, 2013.
North America | Thursday, April 17, 2014

Gondwana Oil Corp. provides acquisition update

Gondwana Oil Corp. (CSE: GO) would like to provide an update further to its press release dated April 14, 2014 concerning the application by the Company's 70% held subsidiary, Miura Petroleum Limited ("Miura"), to acquire an interest in the Offshore Cape Three Point South (OCTPS) block, and the press release from the Ministry of Energy and Petroleum of Ghana (the "Ministry") dated April 10, 2014 in connection with such application.
Africa | Thursday, April 17, 2014

NEB approves LNG export license for Triton LNG

The National Energy Board (NEB or Board) approved an application for a 25 year natural gas export licence from Triton LNG Limited Partnership to export liquefied natural gas (LNG). The license is for a maximum term amount of 93.
North America | Thursday, April 17, 2014

Noble Corporation plc reports first quarter 2014 results

Noble Corporation plc (NYSE: NE) reported first quarter 2014 net income of $256 million, or $0.99 per diluted share, compared to $174 million, or $0.
North America | Thursday, April 17, 2014

Great Plains Holdings, Inc. partners with TexStar Energy for Texas lease with nearly 3m barrels of estimated oil reserves

Great Plains Holdings, Inc. (OTCQB: GTPH) announces that its wholly owned subsidiary, Ashland Holdings, LLC, has made a private placement investment in TexStar -Preferred Partner Joint Venture III, LP ("TexStar") related to a 150-acre lease with nearly 3 million barrels of estimated recoverable oil reserves.
North America | Thursday, April 17, 2014

Great East Energy Inc. reports FY2013 financial results

Great East Energy, Inc. (OTCQB: GASE) which controls over 160 square miles of producing clean energy holdings through two local operating companies, announced its full year 2013 financial results for the period ended December 31, 2013.
North America | Thursday, April 17, 2014

Parex provides operational update and Q2 production forecast 19,000-19,500 bopd

Parex Resources Inc. (TSX:PXT), a company focused on Colombian oil exploration and production provides an operational update of its first quarter 2014 ("Q1") performance.
North America | Thursday, April 17, 2014

Caza Oil & Gas announces another strong result on 2nd Bone Spring well at West Copperline

Caza Oil & Gas, Inc. (TSX:CAZ)(AIM:CAZA) announce another strong result with the West Copperline 29 Fed #2H 2nd Bone Spring development well on the West Copperline Property in Lea County, New Mexico.
North America | Thursday, April 17, 2014

ShaMaran announces Atrush-4 well tests results

ShaMaran Petroleum Corp. (TSX VENTURE:SNM)(OMX:SNM) report the results of the Atrush-4 appraisal/development well ("AT-4") drilled in the Kurdistan Region of Iraq.
Middle East | Thursday, April 17, 2014

Endeavour announces settlement of SM Energy litigation

Endeavour International Corporation (NYSE: END) (LSE: ENDV) announced that a settlement has been reached with SM Energy regarding litigation filed against Endeavour Operating Corporation in December 2011. In July 2011, Endeavour entered into agreements with SM Energy for the purchase of oil and gas leases, producing properties, geophysical data, a pipeline and related assets in the Marcellus shale play in Pennsylvania for an aggregate consideration of approximately $110 million.
North America | Thursday, April 17, 2014

Questerre reports that drilling operations have been successfully completed on the 16-07-62-5W6M well

Questerre Energy Corporation (TSX:QEC)(OSLO:QEC) reported that drilling operations have been successfully completed on the 16-07-62-5W6M well (the "16-07 Well") in the Kakwa-Resthaven area of west central Alberta. Questerre holds a 100% interest in this well situated approximately six miles south of its producing wells in the area.
North America | Thursday, April 17, 2014

Canadian Natural Resources Limited announces discovered presence of light oil/hydrocarbons offshore Cote d'Ivoire

Canadian Natural Resources Limited (TSX:CNQ) (NYSE:CNQ) announce that the Saphir-1XB well has encountered an accumulation of light oil in the deepwater frontier exploration play in Block CI-514 offshore Cote d'Ivoire. The well was drilled by a semi-submersible rig in a water depth of 2,300 meters and reached a total depth of 4,655 meters.
Africa | Thursday, April 17, 2014

Sale of two Rennerfeldt wells completed netting Samson Oil & Gas $200,000

NORTH STOCKYARD PROJECT, WILLIAMS COUNTY, NORTH DAKOTA As previously advised the sale of the Rennerfelt #1-13H and Rennerfelt #2-13H wells has been completed providing capital to participate in the more profitable Matilda Bay wells. The infill development plan for North Stockyard is to drill 10 middle Bakken wells and 8 Three Forks wells.
North America | Thursday, April 17, 2014

Wessex identifies acquisition target

Wessex Exploration PLC, the hydrocarbon exploration company, today provides the following trading update. Advanced Discussions Wessex is pleased to inform shareholders that it is now in advanced discussions with the vendors of a company holding an interest in a prospective offshore asset in the Far East, which the Directors believe is capable of near-term production.
West Europe | Thursday, April 17, 2014

Shell announces Malaysia deep-water gas discovery

Shell today announced an exploration discovery offshore Malaysia. The successful 'Rosmari-1' well is located 135 kilometres offshore in Block SK318, and was drilled to a total depth of 2,123 metres.
Asia Far East | Thursday, April 17, 2014

Nighthawk Energy announces new Mississippian oil discovery at Snow King 13-33 well

Nighthawk, the US focused oil development and production company (AIM: HAWK and OTCQX: NHEGY), announces an update on drilling and production at its 100% controlled and operated Smoky Hill and Jolly Ranch projects in the Denver-Julesburg Basin, Colorado. Snow King 13-33 Well The Snow King 13-33 exploration well was drilled to a depth of 8,400 feet with a principal target of the Mississippian Spergen formation, which is the highly productive formation in the nearby Arikaree Creek oil-field.
North America | Thursday, April 17, 2014

Leni Gas & Oil given approval to commence drilling at Goudron Field

Leni Gas & Oil announces that the Ministry of Energy and Energy Affairs have given approval to commence drilling at the Company's 100% owned and operated Goudron Field ("Field") in Trinidad and the Well Services Petroleum Company Limited (Well Services) Rig 20 is being mobilised to the Field. The first well is expected to spud shortly after the Easter holiday.
Central America | Thursday, April 17, 2014

Xylem's Godwin pumps restore critical operations at flooded oil refinery in Argentina

Xylem (NYSE:XYL), a leading global water technology company focused on addressing the world's most challenging water issues, recently secured a $1.1 million order for specialized dewatering equipment after successfully removing flood water at an oil refinery outside the city of La Plata in Argentina.
South America | Wednesday, April 16, 2014

Corlena Oil Company II, LLC to sell horizontal Texas Panhandle properties

Corlena Oil Company II, LLC has retained E-Spectrum Advisors LLC to sell their properties targeting the Cleveland, Granite Wash, and Douglas play in Hemphill and Ochiltree Counties, Texas. The properties are 100% operated and include nine producing wells, eight of which are horizontal.
North America | Wednesday, April 16, 2014

Three European firms win Angola deepwater deals worth $7.5 billion

Three European companies have won contracts for almost half the value of Angola's $16 billion ultra-deepwater Kaombo oil project, confirming a trend toward bigger scale and risk for the deep-sea contracting and construction sector. Saipem of Italy announced a $4 billion contract related to fitting out and supplying two converted oil tankers to become the Floating Production Storage and Offloading (FPSO) part of the project.
Africa | Wednesday, April 16, 2014

Is Hawaii making a dash for gas?

Hawaii is considering making a dash for gas as part of its efforts to diversify and invest in cleaner, more affordable power supplies. Approval has been so sought from the various responsible Federal agencies, including the Federal energy regulatory commission to move ahead with supplying Hawaii's power sector with gas imported via LNG tankers, perhaps from Alaska, or mainland United States or elsewhere.
North America | Wednesday, April 16, 2014

Swordfish Financial, Inc. commits to invest in a series of oil producing wells

Swordfish Financial, Inc. (OTC QB: SWRF) -- As announced in February, our new structure has provided SWRF with the ability to identify and structure well planned investments in new verticals.
North America | Wednesday, April 16, 2014

Armada Oil, Inc. announces closing of acquisition of Kansas assets

Armada Oil, Inc. (OTCBB:AOIL) announced that, as a part of its asset reallocation strategy, the Company recently completed the acquisition of 100% working interest in six producing oil and gas leases covering approximately 1,040 acres in the Vernon Field in Woodson County, Kansas.
North America | Wednesday, April 16, 2014

Osage Exploration and Development spuds first operated horizontal Woodford well

Osage Exploration and Development, Inc. (OTCBB:OEDV), announced today the spudding of the Osage Whitten 1-2WH, the Company's first operated horizontal Woodford well in Logan County, Oklahoma.
North America | Wednesday, April 16, 2014

Niko Resources announces additions to its Board of Directors and executive leadership team

The Board of Directors of Niko Resources Ltd. (TSX:NKO) announce that Stewart Gossen, a 40 year veteran of the oil and gas industry, has been elected to the Board of Directors effective April 11, 2014.
North America | Wednesday, April 16, 2014

Saratoga Resources announces new staffing

Saratoga Resources, Inc. (NYSE MKT: SARA;) announced new staffing in its Covington, Louisiana office.
North America | Wednesday, April 16, 2014

Remote, oil-rich Shetland elbows way into Scotland's independence vote

Twelve hours by ferry from the Scottish mainland, hundreds of miles from Edinburgh and closer to Oslo than London, the windswept Shetland islands have their own aspirations about Scottish independence. Some of the 23,000 inhabitants even want their own.
West Europe | Wednesday, April 16, 2014

Egdon Resources announces appointment of joint broker

Egdon Resources plc (AIM:EDR) is pleased to announce that it has appointed VSA Capital as its joint broker, alongside Cantor Fitzgerald. VSA Capital is an investment banking and institutional broking group focused on natural resources and has been appointed due to its knowledge and experience of unconventional hydrocarbons and investors in the oil & gas sector.
North America | Wednesday, April 16, 2014

Horizon Energy eyes Webb County Texas for additional drilling prospects

Horizon Energy Corporation (OTCQB: HORI) is currently exploring additional drilling prospects in Webb County, Texas. Horizon recently signed an option agreement for a two-tract lease totaling 1,340 acres close to Mirando City.
North America | Wednesday, April 16, 2014

Spartan Energy Corp. provides drilling and operational update

Spartan Energy Corp. (TSX VENTURE:SPE) provide a first quarter operational and drilling update.
North America | Wednesday, April 16, 2014

Stratex Oil & Gas enters into joint development agreement to exploit significant San Miguel Oil Resource in Zavala County, Texas

Stratex Oil & Gas Holdings, Inc. (OTCQB: STTX) announced that it has entered into a Joint Development Agreement ("JDA"), dated as of April 11, 2014, by and among the Company, Quadrant Resources LLC, ("Quadrant"), and Eagleford Energy, Zavala Inc.
North America | Wednesday, April 16, 2014

Core International announces the formation of two strategic joint ventures

Core International, LLC ('Core') dramatically increased its engineered rubber products production capacity and capability in the first quarter of 2014 with manufacturing joint ventures ('JVs') in Mexico City, Mexico, and Odessa, Texas. Core partnered with Aztec Polymer Products SA de CV in Mexico City, and Pheasant Rubber Company, Inc.
North America | Wednesday, April 16, 2014

Oxford Resource Partners, LP announces sale of Illinois Basin assets

Oxford Resource Partners, LP (NYSE: OXF) announced today that it has sold additional Illinois Basin assets. Cash proceeds from the sale totaled $2 million, thereby enhancing the Partnership's liquidity.
North America | Wednesday, April 16, 2014

INA urges Croatia's government to halt forced gas sale

Croatian oil and gas firm INA urged the government on Wednesday to halt a forced sale of its gas reserves from the country's storage facility, saying it would cause big losses and put jobs at risk. Croatia in February named state-owned power board HEP to replace INA's gas trading company, Prirodni Plin, as the gas supplier to local firms and municipalities, which then supply households.
East Europe | Wednesday, April 16, 2014

Lucas Energy announces $2 million equity offering and is granted NYSE MKT compliance plan extension

Lucas Energy, Inc. (NYSE MKT: LEI) announced that it has entered into an agreement with funds managed by Ironman Energy Master Fund and John B.
North America | Wednesday, April 16, 2014

Announcement from PA Resources' AGM on 16 April 2014

PA Resources AB (publ) held its Annual General Meeting on Wednesday 16 April 2014 in Stockholm. This is a summary of the most important decisions made by the Annual General Meeting.
West Europe | Wednesday, April 16, 2014

Saipem awarded FPSO contracts in Angola worth more than $4 billion

The main contract is worth more than $3 billion, and is an EPCI for the engineering, procurement, installation and commissioning of two converted turret-moored Floating Production Storage and Offloading units (FPSO) for the Kaombo Field Development Project, located in Block 32, offshore Angola. Saipem has also been awarded a seven-year contract of approximately $1 billion for operation and maintenance services of the two vessels.
Africa | Wednesday, April 16, 2014

Strike Energy provides update on PEL 96 Joint Venture

Strike Energy Limited (ASX:STX) as operator and 66.67% interest holder of the PEL 96 Joint Venture (PEL 96 JV) and Australian Gasfields Limited (AGL), a wholly owned subsidiary of Energy World Corporation Limited (ASX:EWC) are pleased to jointly announce that under and in accordance with the Joint Operating Agreement (JOA) the parties have today signed a Deed of Cross Security, an industry standard form of Cross Security that is required to be executed as the Joint Venture progresses to the development phase.
Australasia | Wednesday, April 16, 2014

Tethys Oil provides sales update for first quarter 2014

Tethys Oil's net sales amounted during the first quarter 2014 to MSEK 195. The average selling price during the quarter was USD 106.
West Europe | Wednesday, April 16, 2014

Ezion secures a contract with an approximate value of USD43.7 million

The Board of Directors of Ezion Holdings Limited announce that it has secured a charter contract with a value of approximately USD 43.7 million over a 3 year period to provide a service rig ('Service Rig') to support a South Asian based national oil company.
Asia Far East | Wednesday, April 16, 2014

Athlon Energy announces first quarter 2014 production

Athlon Energy (NYSE: ATHL) announced first quarter 2014 production, horizontal well results, and increased 2014 outlook. First Quarter 2014 Production: Athlon’s average daily production volumes for the first quarter 2014 reached a record high of 16,987 BOE/d as compared with 9,959 BOE/d produced in the first quarter 2013, representing a 71% increase year-over-year.
North America | Wednesday, April 16, 2014

Reflex Marine becomes first EU firm to gain Brazilian accreditation

Reflex Marine, a global leader in safe marine transfer solutions to the offshore, marine and renewables industries, has become the first European company to have its technology certified by the Brazilian Navy, the accredited body for offshore safety in the region. The certification relates to the company's FROG-6 device and comes off the back of rigorous testing to scrutinise its capabilities.
South America | Wednesday, April 16, 2014

BOEM proposes Western Gulf of Mexico oil and gas lease sale

As part of President Obama's all-of-the-above energy strategy to continue to expand safe and responsible domestic energy production, Bureau of Ocean Energy Management (BOEM) Director Tommy P. Beaudreau today announced that the bureau will offer more than 21 million acres offshore Texas for oil and gas exploration and development in a lease sale that will include all available unleased areas in the Western Gulf of Mexico Planning Area.
North America | Wednesday, April 16, 2014

Seychelles signs final approval for WHL Energy farm-out

Australian energy company WHL Energy Limited (ASX: WHN) announce that the Republic of the Seychelles has signed formal documentation approving Ophir Energy plc's ('Ophir') previously reported* farm-in to WHL Energy's large offshore Seychelles exploration position. Under the agreement Ophir is farming-in to earn a 75% interest in WHL Energy's offshore Seychelles petroleum exploration project area.
Africa | Wednesday, April 16, 2014

Integra Group reports 2013 financial results and 2013 order book update

Integra Group (LSE: INTE), one of the leading independent providers of diversified oilfield services, released today its Audited Consolidated Financial Statements, prepared in accordance with IFRS, for the year ended December 31, 2013. 2013 Financial Highlights Sales decreased by 11.
North America | Wednesday, April 16, 2014

IG Seismic Services announces audited financial and operational results for the twelve months of 2013

IG Seismic Services PLC (LSE: IGSS), the leading pure-play land and transition zone seismic company in Russia and the CIS and one of the largest land seismic companies globally, announces its audited financial and operational results for the twelve months ended 31 December 2013. Key Financial Results for the 12 Months of 2013 12m 2013 12m 2012 Change in million US$, unless otherwise stated Revenue 607.
Russia FSU | Wednesday, April 16, 2014

Hurricane Energy mobilises Sedco 712 Rig

Hurricane Energy plc, the UK-based oil and gas company focused on hydrocarbon resources in naturally fractured basement reservoirs, is pleased to announce that it has commenced the mobilisation process for the Transocean Sedco 712 semi-submersible drilling rig. The planned operation is to drill and test the Lancaster basement oil discovery.
West Europe | Wednesday, April 16, 2014

US Oil Sands Inc. announces appointment of a new Director and provides details of its upcoming AGM

US Oil Sands Inc. (TSXV: USO) announced the appointment of Mr.
North America | Wednesday, April 16, 2014

Sterling Resources announces 2013 operating and financial results and NI 51-101 reserves disclosure

Sterling Resources Ltd. (TSXV: SLG), an international oil and gas company with exploration and development assets in the United Kingdom, Romania, Franceand the Netherlands, is pleased to announce operating and financial results for the year ended December 31, 2013.
West Europe | Wednesday, April 16, 2014

Gastar Exploration resumes unrestricted Marcellus shale production

Gastar Exploration Inc. (NYSE MKT: GST) reported that production from its Marshall County, West Virginia operations has resumed with no restrictions following the successful re-routing of natural gas volumes through the Williams operated midstream system and the return to service of the pipeline that transports condensate from the field to processing facilities.
North America | Wednesday, April 16, 2014

Bakken Resources announces year-end results

Bakken Resources, Inc. (OTCQX: BKKN), announces positive net income of $2 million (before taxes) for the fiscal year ending 2013, as reported in the Company's Annual Report on Form 10-K filed today with the Securities and Exchange Commission.
North America | Wednesday, April 16, 2014

Galleria Opportunities Ltd. announces oil and gas property sale closing

Galleria Opportunities Ltd. (TSX VENTURE:GOI.
North America | Wednesday, April 16, 2014

Azabache Energy announces production testing results

Azabache Energy Inc. (TSX VENTURE:AZA) announces the completion of the production testing operation performed on the Cvo.
North America | Wednesday, April 16, 2014

Hemisphere Energy Corporation announces year-end 2013 financial results

Hemisphere Energy Corporation (TSX VENTURE:HME) announce its financial and operating results for the twelve months ended December 31, 2013. As a result of changing the Company's fiscal year-end from February 28 to December 31, Hemisphere's current reporting period is for the twelve months ended December 31, 2013 with comparatives to the ten months ended December 31, 2012.
North America | Wednesday, April 16, 2014

TransCanada closes sale of Cancarb Limited

TransCanada Corporation (TSX:TRP) (NYSE:TRP) has closed the sale of Cancarb Limited (Cancarb) and its related power generation facility to Tokai Carbon Co., Ltd.
North America | Wednesday, April 16, 2014

Baytex supports regulatory initiatives on Peace River oil production announced by the Alberta Energy Regulator

Baytex Energy Corp. (TSX:BTE)(NYSE:BTE) supports the regulatory initiatives announced Tuesday by the Alberta Energy Regulator ("AER") governing heavy oil development in the Peace River region.
North America | Wednesday, April 16, 2014

China oil demand sluggish as slowing economy curbs energy use


China's implied oil demand fell 0.6 percent in the first quarter as a slowing economy dampened energy use, forcing refiners to scale back crude runs and raise exports to trim high fuel stocks.
Asia Far East | Wednesday, April 16, 2014

Manitok Energy announces unaudited 2013 financial and operating results, the 2013 reserves evaluation and an operational update

Manitok Energy Inc. (TSX VENTURE:MEI) is pleased to announce its 2013 fourth quarter and year-end unaudited financial and operational results; provide highlights from its 2013 independent Reserves Evaluation and provide an operational update.
North America | Wednesday, April 16, 2014

Insight: How can companies develop and retain Petro-technical professionals?

What should oil & gas companies do to develop, train, motivate and thereby retain Petro-technical Professionals? How can they turn 'raw material', recent recruits whether graduates or folk with a few years experience in an oil field service company, into exploration, reservoir and operations leaders? Once I had got past being a humble geophysical researcher at BP, I had various jobs, firstly Chief Geophysicist in Aberdeen, Houston and then London (1986 -1995), and then later Head of Exploration (from 2000, until I retired in 2003) in which I had to help figure out and/or figure out for myself how you motivate, retain, develop and train the integrators and synergistic thinkers who you can trust with the company's money in exploration and reservoir management. The best starting material consisted of bright people with niche MScs and PhDs, or perhaps folks with a specialist technical background who had joined us from an oil field service company.
North America | Wednesday, April 16, 2014

Pioneer Natural Resources announces closing of sale of Alaska subsidiary to Caelus Energy Alaska

Pioneer Natural Resources Company (NYSE:PXD) announced that the Company closed its previously announced sale of its Alaska subsidiary to Caelus Energy Alaska LLC for cash proceeds of $300 million, subject to normal closing adjustments, plus other consideration. The Company expects to recognize a noncash loss of approximately $30 million associated with the sale when it reports earnings for the first quarter of 2014.
North America | Wednesday, April 16, 2014

Dejour sees 60% increase in net production at Woodrush

Dejour Energy Inc.: (NYSE MKT: DEJ / TSX: DEJ) announced that gross daily production at its Woodrush project in NE British Columbia is currently 540 boepd (380 net), an increase of 60% over average gross daily production during Q4 2013 of 316 boepd (237 net).
North America | Wednesday, April 16, 2014

PA Resources provides Interim Report for 1 January to 31 March 2014

FIRST QUARTER Group revenue totalled SEK 178 million (359) EBITDA was SEK 114 million (211) Profit after tax was SEK -48 million (34) Earnings per share were SEK -0.43 (1.
North America | Wednesday, April 16, 2014

Technip Heerema Alliance wins major Kaombo subsea contract offshore Angola

The consortium, comprising Technip (Paris:TEC) (ISIN:FR0000131708) (ADR:TKPPY) and Heerema Marine Contractors (Heerema), was awarded a major lump-sum contract by Total E&P Angola for the engineering, procurement, construction, installation (EPCI) and pre-commissioning for the SURF (subsea umbilicals, risers and flowlines) part of the Kaombo project, located in Block 32 offshore Angola in water depths up to 2,000 meters. The contract is valued at approximately USD 3.
Africa | Wednesday, April 16, 2014

Hunting PLC publishing Interim Management Statement for the period from 1 January 2014 to 16 April 2014

Hunting PLC (LSE:HTG), the international energy services group, will be holding its Annual General Meeting at 10.30a.
North America | Wednesday, April 16, 2014

Enteq Upstream provides a year-end trading update

Enteq Upstream plc the oilfield services technology and equipment supplier, today gives a year-end trading update. The Board expects to report adjusted EBITDA of approximately $1.
North America | Wednesday, April 16, 2014

Tower Resources: Grant of options and exercise of warrants

Tower Resources plc (TRP.L, TRP LN), the AIM listed Africa focussed oil and gas exploration company, announces the grant of options to an executive director and certain staff and retained consultants.
West Europe | Wednesday, April 16, 2014

UK well placed to deal with potential Russian gas export cut

Britain is well placed to deal with the possibility of a Russian cutoff of gas to Europe during the Ukraine crisis, because it receives most of its imports from Norway and has significant domestic reserves. As relations worsen between Kiev and Moscow, European gas customers fear that Russia could cut off exports to Ukraine, which is an important transit route for natural gas to the European Union.
West Europe | Tuesday, April 15, 2014

Global Energy Development announces its update on the upcoming re-entry of the Catalina #1 well

Global Energy Development PLC, the Latin America focused petroleum exploration, development and production company (AIM: GED) with operations in Colombia, announces its update on the upcoming re-entry of the Catalina #1 well to test the Simiti formation in the Bolivar Association Contract ("Bolivar Contract") located in the northern section of the Magdalena Valley in Colombia, South America. The design stage of the project has been completed in conjunction with Ely and Associates, a US-based engineering firm specialising in hydraulic fracturing technology, together with a major oilfield service provider which will perform the upcoming fracture stimulation of the Simiti formation in the existing Catalina #1 well.
South America | Tuesday, April 15, 2014

Lamprell receives new contract award from Ensco Intercontinental GmbH

Lamprell (ticker: LAM) announce that it has received a new contract award from Ensco Intercontinental GmbH, a subsidiary of Ensco plc ("Ensco"), for the construction and delivery of two high specification, LeTourneau-designed, self-elevating Mobile Offshore Drilling Platforms of a Super 116E (Enhanced) Class. The rigs are designed to operate in water depths of up to 340 feet with a rated drilling depth of 30,000 feet, and will also incorporate a number of Ensco proprietary features and specifications.
Middle East | Tuesday, April 15, 2014

South Sudan rebels say seize oil hub Bentiu, tell foreign firms to go

South Sudanese rebels said on Tuesday they have seized the capital of oil-producing Unity state, Bentiu, and warned oil firms to pack up and leave within a week. Thousands of people have been killed and more than one million displaced since fighting erupted in South Sudan in the middle of December, triggered by a power struggle between President Salva Kiir and former Vice President Riek Machar.
Middle East | Tuesday, April 15, 2014

Independent Resources provides an update regarding its Ksar Hadada licence

As previously announced, Tunisia's national oil company, Entreprise Tunisienne d'Activités Pétrolières (ETAP) made an application on 19 February 2014 to Tunisia's Ministry of Industry, Energy and Mines (through its permitting authority Direction Générale de l'Energie ("DGE")) with the support of the Company for Independent Resources to be the Operator of the Ksar Hadada licence with an interest of 86.345% of the Production Sharing Contract for the extension period of two years.
Middle East | Tuesday, April 15, 2014

Libya to export first oil since rebel deal

A tanker is due to load 1 million barrels of crude on Tuesday from Libya's reopened Hariga port, its first export shipment since a deal to end months of closures at its main oil terminals, the National Oil Corp. (NOC) said.
Middle East | Tuesday, April 15, 2014

Ensco orders two ENSCO 140 series jackups

To fulfill customer demand for the Company's differentiated rig technology and contract drilling services in the Middle East, Ensco plc (NYSE:ESV) has ordered two high-specification jackups, ENSCO 140 and ENSCO 141. Both rigs, which will incorporate Ensco's patented Canti-Leverage AdvantageSM technology, are significantly enhanced versions of the LeTourneau Super 116E jackup design.
North America | Tuesday, April 15, 2014

Petrofac / Siemens consortium awarded offshore wind contract in North Sea

Petrofac, the international service provider to the oil and gas industry, announces that in consortium with Siemens it has been awarded a major contract from TenneT, the German-Dutch transmission grid operator, for the BorWin3 offshore wind farm grid connection in the North Sea. Petrofac will be responsible for the construction and offshore installation of the BorWin3 platform, which will house a Siemens high voltage direct current (HVDC) station that converts the alternating current produced by the wind turbines to direct current before transmitting it onshore to the German national grid.
West Europe | Tuesday, April 15, 2014

Octagon 88 Resources announces Red Earth light oil project update

Octagon 88 Resources (OCTX) announces the construction of the well pad on the Red Earth well site Section 9 89 R3W5 being near completion. The operator has advised post spring break up the drilling rig will be contracted and spudding will occur.
North America | Tuesday, April 15, 2014

Canadian oil & gas companies endure a tough 2013

2013 was a difficult year for Canada’s biggest oil and gas companies, according to a new analysis of the annual results over the last 5 years for 99 TSX-listed oil and gas companies by CanOils (note 1). Capital expenditures reached record highs for recent periods, but so did the average well costs and the amount of capital spending financed by long term debt.
North America | Tuesday, April 15, 2014

Noble Energy announces management succession plan

Noble Energy, Inc. (NYSE: NBL) announced that Charles D.
North America | Tuesday, April 15, 2014

FX Energy to test seventy meter gas interval at Tuchola-4K well

FX Energy, Inc. (NASDAQ: FXEN) reported that the Tuchola-4K well reached its primary objective, the lower Zechstein Ca1 formation at 2,740 meters, approximately 60 meters high to last year's Tuchola-3K well.
East Europe | Tuesday, April 15, 2014

BP head says Russian business unaffected by sanctions

Western sanctions over Russia's actions in Ukraine have not impacted BP's business in Russia, chief executive Bob Dudley said on Tuesday, reiterating the oil major stands by its Russian investments. Dudley came under pressure at a BP shareholder meeting last week when some questioned the oil's major investments in Russia at a time of the most serious East-West rift since the end of the Cold War due to Russia's annexation of Crimea.
Russia FSU | Tuesday, April 15, 2014

Rey Resources considering preliminary proposals for extensive 2D and 3D seismic over the Fitzroy Blocks

Rey Resources Limited (ASX:REY) refers to an ASX announcement by Buru Energy Limited (ASX:BRU) on Friday 11 April 2014 providing an operations update and noting that its 2014 exploration program of prospects along the Ungani trend was under review. Buru is the operator of a Joint Venture (JV) over EP457 and EP458, together referred to as the Fitzroy Blocks, in northern Western Australia.
Australasia | Tuesday, April 15, 2014

Walking, 'talking' drilling rigs aim to modernize fracking

The backbreaking life of a roughneck, the iconic worker bees of oilfield drilling rigs, is getting a little easier. Schramm Inc, which built the drilling rig that four years ago helped rescue 33 trapped Chilean copper miners, has designed a 500,000-pound rig for the oil and natural gas industry that can walk, rotate 360 degrees, be operated with a remote control, and load pipe automatically.
North America | Tuesday, April 15, 2014

Aker Solutions wins contract to deliver subsea production system for Total's Kaombo development in Angola

Aker Solutions won a contract worth NOK 14 billion from Total to provide a subsea production system for the Kaombo Block 32 development in Angola. Aker Solutions will deliver 20 subsea manifolds and 65 vertical subsea wellsets.
Africa | Tuesday, April 15, 2014

Central Petroleum announces encouraging gas flow recorded at Mt Kitty exploration well

Central Petroleum Limited (ASX:CTP) has been advised that its Mt Kitty 1 exploration well flowed gas in testing. The preliminary findings were notified by Santos (ASX:STO), the Operator of Amadeus Basin permit EP 125, that the exploration well Mt Kitty 1 reached its programmed total depth of 2,295m in metasedimentary basement.
Australasia | Tuesday, April 15, 2014

Mid-Con Energy Partners, LP announces borrowing base increase of $20 million to $170 million

Mid-Con Energy Partners, LP (Nasdaq:MCEP) ("MCEP") announced that it has received lender commitments to increase its borrowing base to $170 million, up 13% from the $150 million in previously established commitments under MCEP's existing $250 million senior secured revolving credit facility ("Credit Facility"). This increase became effective on April 11, 2014, with Royal Bank of Canada acting as the Administrative Agent.
North America | Tuesday, April 15, 2014