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Rossukon-2ST sidetrack well provides encouraging results for KrisEnergy

KrisEnergy Ltd., an independent upstream oil and gas company, provides an update on the drilling of the Rossukon-2ST sidetrack exploration well in G6/48 in the Gulf of Thailand, which was drilled following the announcement on 24 March 2015 of the Rossukon-2 oil and gas discovery.
Asia Far East | Monday, March 30, 2015

Range Resources announces change of Company Secretary

In accordance with ASX Listing Rule 3.16.
West Europe | Monday, March 30, 2015

Saudi Aramco signs new standby credit facilities with 27 financial institutions

As part of the Company's strategy of maintaining financial flexibility, Saudi Aramco has signed a new standby revolving credit facilities agreement. The USD 10 billion standby revolving credit facilities agreement replaces the existing USD 4 billion facilities agreement, which was signed in 2010.
Middle East | Monday, March 30, 2015

ExxonMobil begins production at Hadrian South in Gulf of Mexico

Exxon Mobil Corporation (NYSE:XOM) announced today it began production in the deepwater Gulf of Mexico at Hadrian South with facilities tied back to the nearby Lucius project, reducing additional infrastructure requirements. Daily gross production from Hadrian South, ExxonMobil's deepest subsea tie-back in nearly a mile and a half of water, is expected to reach approximately 300 million cubic feet of gas and 3,000 barrels of liquids from two wells.
North America | Monday, March 30, 2015

88 Energy releases 2014 annual report

88 Energy Limited (ASX:88E; AIM:88E) advises that a copy of the Company's Annual Report for the year ended 31 December 2014 has been lodged on the ASX and is also available on the Company's website. The Annual Report was sent to shareholders today.
North America | Monday, March 30, 2015

Petrus Resources Ltd. announces fourth quarter and annual 2014 results, setting new records for production, cash flow and reserves

Petrus Resources Ltd. is pleased to report operating and financial results for the fourth quarter and the 2014 fiscal year, in which the Company set new records for production, cash flow and reserves.
North America | Monday, March 30, 2015

Logan International reports 2014 financial results

Logan International Inc. (TSX:LII) today reported the results of its fourth quarter and year ended December 31, 2014.
North America | Monday, March 30, 2015

New Zealand: Block Offer 2015 Release Areas announced

Speaking at the Advantage 2015 Petroleum Summit, Energy and Resources Minister Simon Bridges today opened the Block Offer 2015 tender for petroleum exploration permits. Block Offer 2015 features 429,298 square kilometres of acreage, including three onshore areas and four offshore areas.
Australasia | Monday, March 30, 2015

Oil price, Statoil, Lamprell, Borders & Southern, And finally...

Oil price Almost all the pointers right now are downward arrows some of which are potentially have quite serious consequences. Last week WTI gained $3 but Friday's fall meant that Brent was only flat, today both are weaker again.
West Europe | Monday, March 30, 2015

Harvest Natural Resources announces 2014 fourth quarter and full-year results

Harvest Natural Resources, Inc. (NYSE: HNR) today announced 2014 fourth quarter and year-end earnings.
South America | Monday, March 30, 2015

Resolute Energy Corporation sells non-core assets, announces board changes

Resolute Energy Corporation (NYSE: REN) announced today that it has entered into a definitive agreement to sell certain non-core assets in the Midland Basin portion of the Permian Basin in west Texas. The properties will be sold to a private party for a purchase price of approximately $42 million.
North America | Monday, March 30, 2015

Hedge funds moving away from 'buy on the dips' strategy

In recent years, financial markets have believed that 'everything is for the best in this best of all possible worlds'. Good news has taken markets higher.
North America | Monday, March 30, 2015

BASF names new head of Wintershall

Mario Mehren, currently a member of the Board of Executive Directors of Wintershall responsible for Exploration & Production Russia, North Africa and South America, has been named President of BASF's Oil & Gas division effective July 1, 2015, and in this function will be head of BASF's subsidiary Wintershall. He succeeds Dr.
West Europe | Monday, March 30, 2015

Steam Oil updates pilot project evaluation

Since being awarded, in the 28th seaward licensing round, Licence P2244, which covers the well appraised Pilot and Harbour fields, The Steam Oil Production Company has been progressing internal studies on the Pilot development project. This work has increased the company's confidence that steam flooding is both feasible offshore and is the approach which will maximise economic recovery from the Pilot oilfield.
West Europe | Monday, March 30, 2015

LGX Oil + Gas Inc. announces executive changes

LGX Oil + Gas Inc. (TSXV: OIL) announces that Curt Ziemer has been appointed Vice-President, Finance and Chief Financial Officer of the Company effective today and that Matt Janisch, who previously held that role, is no longer an officer of the Company.
North America | Monday, March 30, 2015

Dubai's national oil company considers expanding upstream presence: Petrodollars

Many have been waiting for mergers and acquisitions- particularly in E&P sectors - to pick up in light of low oil prices, and one case of a downstream-focused company considering acquiring an oil producer caught the attention of Tamsin Carlisle in this week's Oilgram News column, Petrodollars.During periods of low oil prices, opportunities to acquire exploration and production assets at bargain prices often present a silver lining for well-capitalized companies.
Middle East | Monday, March 30, 2015

Vital Energy Inc. announces director appointment

Vital Energy Inc. (TSX VENTURE:VUX) is pleased to announce that Mr.
North America | Monday, March 30, 2015

Breitburn Energy Partners announces $1 Billion strategic investment by EIG Global Energy Partners

Breitburn Energy Partners LP (NASDAQ:BBEP) and EIG Global Energy Partners today announced definitive agreements whereby Breitburn will sell $350 million of perpetual convertible preferred units and $650 million of senior secured notes in simultaneous private offerings to investment funds managed by EIG, and other purchasers. These offerings are expected to close on April 8, 2015, subject to the approval of an amendment to Breitburn's senior credit facility and satisfaction of other customary closing conditions.
North America | Monday, March 30, 2015

Rampart Energy secures second Australian exploration asset

Highlights Rampart Energy secures an 80% interest and operatorship of WA-503-P Offers excellent potential for commercial oil discoveries, adjacent to infrastructure Four exploration leads identified on existing 3D seismic data Rampart's initial estimates indicate individual prospective resource ranges from 5 MMbbl to 15 MMbbl oil Permit carries a low work commitment of 80km2 of new 'Broadband' 3D seismic Rampart to discuss timing and scope of work program with NOPTARampart Energy Ltd (ASX: RTD) is pleased to announce that the Company has secured rights to an 80% working interest as Operator in exploration permit WA-503-P, through an agreement with Neon Energy Ltd and partner Black Swan Resources Pty Ltd (Black Swan). Subject to the approval of the National Offshore Petroleum Titles Administrator (NOPTA), Rampart will be assigned the 80% interest in WA-503-P in consideration for assuming Neon Energy's commitments pertaining to the permit.
Australasia | Monday, March 30, 2015

Covenant Mondo JV plugs and abandons second well of farm-in commitment

Crestal Petroleum Limited advises that the second well of the farm-in commitment (AGT #1-34) has been plugged and abandoned by the Operator and the rig released at 1830 hrs yesterday (ACST). This was despite Crestal's express wish to case and suspend the well and if necessary, to do this on a 'sole risk' basis.
Australasia | Monday, March 30, 2015

Cooper Energy spuds Perlubie-3 well

Cooper Energy Limited (ASX: COE) advises that Perlubie-3, an oil appraisal well located in PPL 247 on the western flank of the Cooper Basin, spudded on Monday 30 March, 2015 at 00:30 hours. At 06:00 hours this morning the rig was drilling 12-1/4 inch surface hole at 83 metres.
Australasia | Monday, March 30, 2015

S.N.G.N. Romgaz provides update on two new natural gas discoveries in Suceava and Mures

Societatea Nationala de Gaze Naturale ROMGAZ SA completed this month the works for bringing into production test two new gas accumulations in the Moldavian Platform and in the Transylvanian Basin, nearby Frasin (Suceava County) and Cris (Mures County), respectively. Frasin well, drilled at 4,100 m depth, is located in the exploration-development -production block RG 04 Moldova Nord, an area where ROMGAZ produces gas since 1972.
East Europe | Monday, March 30, 2015

Harkand secures multi-million pound contract with Maersk Oil North Sea

Harkand has secured a multi-million pound contract with Maersk Oil North Sea Ltd for the provision of DSV services in the North Sea region. The 12-month contract will be serviced by Harkand's two DSVs, the Harkand Da Vinci and Harkand Atlantis, supported by project management and engineering from Harkand's Aberdeen office.
West Europe | Monday, March 30, 2015

OMV appoints new CEO

In today's meeting, the Supervisory Board of OMV Aktiengesellschaft appointed Rainer Seele (54) as the new Chairman of the Executive Board and CEO of OMV. Rainer Seele has accepted the appointment.
East Europe | Monday, March 30, 2015

LNG Limited extends dates for completion of Fisherman's Landing LNG project

Liquefied Natural Gas Limited (ASX: LNG; OTC ADR: LNGLY) today announced that its 100% owned subsidiary, Gladstone LNG Pty Ltd, owner of the Fisherman's Landing LNG project (FLLNG or FLLNG Project) has: Extended the FLLNG Site Agreement for Lease with the Gladstone Ports Corporation (GPC) to 31 March 2016 for A$1 million Received extension to 31 December 2017 for completion of construction of the FLLNG Project from the Queensland GovernmentThe extension consideration reflects the existing option provision within the GPC Site Agreement for Lease. There were no other changes to the Site Agreement for Lease originally signed on 4 May 2010.
Australasia | Monday, March 30, 2015

Total completes $1 billion of onshore divestments in Nigeria

Total has completed the divestment of its stake in onshore Oil Mining Lease (OML) 29 to Aiteo Eastern E&P, a Nigerian company, for $569 million. Together with the recently completed divestments of OML 24 and OML 18, Total's share of sale proceeds from these three onshore Nigerian blocks amounts to over $1 billion.
Africa | Monday, March 30, 2015

Northcote Energy enters agreement to pursue opportunities in Mexico

Northcote (AIM: NCT), an onshore US oil and gas exploration and production company, is pleased to announce that it has entered into an agreement with a Mexican company, Gaia Ecologica S.A.
North America | Monday, March 30, 2015

Statoil makes eighth discovery in Block 2, offshore Tanzania

Statoil today announced that the Mdalasini-1 exploration well has resulted in a new natural gas discovery offshore Tanzania. The discovery of an additional 1.
Africa | Monday, March 30, 2015

Halliburton and Baker Hughes announce approval of transaction by stockholders of both companies

Halliburton Company (NYSE:HAL) today announced that its stockholders approved Halliburton's proposal to issue shares of Halliburton common stock as contemplated by its merger agreement with Baker Hughes Incorporated (NYSE: BHI). In addition, Baker Hughes today announced that its stockholders adopted the merger agreement and thereby approved the proposed combination of the two companies.
North America | Friday, March 27, 2015

Nigerian elections 2015: Oil, militancy and subsidies

On March 28, Africa's biggest economy and also the continent's largest oil producer, Nigeria, will go to the polls to elect its new president. In an ideal world, these elections should have taken place six weeks ago.
Africa | Friday, March 27, 2015

Cue Energy receives approval for farm-in to Mahato PSC Onshore Central Sumatra, Indonesia

Cue Energy Resources Limited (ASX:CUE) is pleased to announce receipt of government approval for the farm-in agreement with Bukit Energy Central Sumatra (Mahato) Pte Ltd to acquire a 12.5% participating interest in the Mahato Production Sharing Contract onshore Central Sumatra, Indonesia.
Asia Far East | Friday, March 27, 2015

Aker Solutions announces changes in executive management team

Tore Sjursen will assume the position as executive vice president for operational improvement and risk management at Aker Solutions on April 1. Knut Sandvik will at the same time replace Sjursen as head of the company's maintenance, modifications and operations business.
West Europe | Friday, March 27, 2015

Red Leaf Resources to accelerate commercial technology optimisation for the Early Production System, announces TomCo Energy

TomCo Energy plc today announces that further to the announcement of 5 February 2015 the Company's technology provider Red Leaf Resources Inc. has released an update as to the timing of construction for its Early Production System capsule.
North America | Friday, March 27, 2015

Oil price, Egdon/Europa/Union Jack, Parkmead, And finally...

Oil price It's all about the Yemen, as for the first time for a while a good old fashioned geo-political flare-up adds five bucks to the oil price. Indeed, at one stage yesterday Brent nearly negotiated $60 but came off at the end and today its $50 and $58 for the pair.
West Europe | Friday, March 27, 2015

Sigma Cubed Inc. selected by Paltar Petroleum for multi-year development and operations services across 8.9 million acres of Australian oil and gas companies

Sigma Cubed Inc. (SIGMA3) was selected by Paltar Petroleum Limited to deliver multi-year, onsite project management, engineering and operations services covering 8.
Australasia | Friday, March 27, 2015

Clayton Williams Energy announces new President

Clayton Williams Energy, Inc. (NYSE:CWEI) today announced that Mel G.
North America | Friday, March 27, 2015

Helix Energy Solutions enters new multi-year contract with Shell

Helix Energy Solutions Group, Inc. (NYSE: HLX) announced today that it has entered into a new multi-year contract with Shell to provide well intervention services in the U.
North America | Friday, March 27, 2015

CNOOC Limited: exploration and development laid solid foundation lowering costs and enhancing efficiency program achieved outstanding results

CNOOC Limited (NYSE: CEO, SEHK: 00883, TSX: CNU) today announced its 2014 annual results for the year ended December 31, 2014. In 2014, the Company achieved various breakthroughs in exploration and the reserve replacement ratio for the year was 112%.
Asia Far East | Friday, March 27, 2015

African Petroleum Corporation provides company update

African Petroleum, an independent oil and gas exploration company operating ten licences in five countries offshore West Africa, is pleased to provide the following update on its activities. Funding Update African Petroleum has successfully raised NOK 95,016,200 (approximately US$12.
Africa | Friday, March 27, 2015

Highly experienced oil and gas executive joins Jacka Resources

The Directors of Jacka Resources Limited (ASX:JKA) are pleased to announce the addition of Ken Charsinsky to the Company's Executive Team as an E&P advisor to the Board. Mr Charsinsky brings to the role more than 35 years of experience in all phases of upstream oil and gas asset evaluation, acquisition, operations, maintenance and enhancement.
Australasia | Friday, March 27, 2015

Oil Basins Limited and Backreef Oil settle out of court

Oil Basins Limited (ASX:OBL) advises as a mater of record that the Oil Basins Limited vs Backreef Oil Pty Ltd Magistrates Court PER/GCLM/18204/2014 was formally settled out of court late yesterday. OBL will receive within 5 days the full amount as claimed in the Company's statement of claim and a contribution of $2,500 towards the Company's legal costs.
Australasia | Friday, March 27, 2015

Chevron exits Nappamerri Trough Natural Gas project

Beach Energy Limited (ASX: BPT) has been advised by Chevron Exploration Australia 1 Pty Ltd that it will not participate in Stage 2 of the Nappamerri Trough Natural Gas project. Formal notification from Chevron is expected to follow shortly.
Australasia | Friday, March 27, 2015

With Expertise and a Little Luck, East West Petroleum Reels in Profits Despite Oil Price Plunge

Many oil companies have been devastated by the oil price debacle. East West Petroleum, on the other hand, is making money, pumping more oil and strengthening its cash balance.
North America | Friday, March 27, 2015

Statoil commences installation of Polarled pipeline project

On 26 March, the Solitaire pipe-laying vessel started on the first stage of the Polarled installation project. The 482-kilometre long pipeline will transport gas from the Aasta Hansteen field in the Norwegian Sea to Nyhamna in western Norway.
West Europe | Friday, March 27, 2015

Chevron announces sale of interest in Caltex Australia

Chevron Corporation's (NYSE: CVX) wholly owned subsidiary Chevron Global Energy Inc. today announced that it has entered into an underwriting agreement for the sale of its 50 percent shareholding in Caltex Australia Limited (CAL).
Australasia | Friday, March 27, 2015

Norwegian Petroleum Directorate grants Statoil drilling permit for 15/6-13

The Norwegian Petroleum Directorate has granted Statoil Petroleum AS a drilling permit for well 15/6-13, cf. Section 8 of the Resource Management Regulations.
West Europe | Friday, March 27, 2015

PA Resources files for corporate reorganisation

As mentioned in the year-end report published 26 February 2015, PA Resources AB has for the past few months been in discussions with its creditors regarding a capital restructuring to establish a long term financing plan for the Company. During the course of this process the Company has requested and has been granted deferral of interest payments by its principal creditors on two occasions.
West Europe | Friday, March 27, 2015

Egdon Resources announce confirmation of oil column at Wressle-1 well

Egdon Resources plc (AIM:EDR) announces the results of the second Penistone Flags flow test at the Wressle-1 oil and gas discovery in licence PEDL180 located to the East of Scunthorpe, where Egdon operates with a 25% interest. Zone 3a in the Penistone Flags was perforated over a 7.
West Europe | Friday, March 27, 2015

Shell axes a further 250 jobs in the North Sea

Shell announced today that a further 250 jobs in the North Sea were to be terminated, and remaining staff face changes in existing shift patterns. Both staff and agency contractors are affected, and were made aware during a meeting today.
West Europe | Thursday, March 26, 2015

Oil Prices in Saudi Arabia Hitting Stability: Will it Continue Any Further?

Saudi Arabia's oil minister is going ballistic with claims of oil prices stabilizing in the kingdom. Obviously, it hasn't stemmed out of suddenness.
Middle East | Thursday, March 26, 2015

Crown Point provides update on Tierra del Fuego concessions

Crown Point Energy Inc. (TSX VENTURE:CWV) today provided an operational update regarding the results of its ongoing development, exploration and recompletion program at its 25.
South America | Thursday, March 26, 2015

Libra consortium finishes drilling second extension well

The Libra consortium has finished drilling extension well 3-BRSA-1267-RJS/3-BRSA-1267A-RJS (3-RJS-735/735A). The drilling results confirmed the presence of a hydrocarbon column approximately 200 meters deep in reservoirs with good permeability and porosity characteristics.
South America | Thursday, March 26, 2015

Sterling Resources announces sale of its entire Romanian business

Sterling Resources Ltd. (TSX-V: SLG) is pleased to announce that it has entered into an agreement to sell its entire Romanian business to Carlyle International Energy Partners, an affiliate of The Carlyle Group (NASDAQ: CG).
East Europe | Thursday, March 26, 2015

Marquee Energy announces closing of Michichi acquisition

Marquee Energy Ltd. (TSXV: 'MQL') has closed the previously announced strategic acquisition to further consolidate its core Michichi area.
North America | Thursday, March 26, 2015

Calvalley Petroleum Inc. announces shut down of Block 51 operations

Calvalley Petroleum Inc. (TSX: CVI.
Middle East | Thursday, March 26, 2015

First Titan Energy comments on Mexico's plan to attract foreign companies with favourable tax adjustments

As First Titan Corp. (OTCBB:FTTN) targets undervalued energy assets across North America for acquisition and development, Mexico is sweetening its tax terms to help attract energy companies south of the border.
North America | Thursday, March 26, 2015

Empire Oil & Gas signs drilling contract for up to five wells in Perth Basin

Empire Oil & Gas (ASX: EGO) is pleased to advise that it has finalised a drilling contract with WA-based drilling contractor Enerdrill, putting it on track to spud the Red Gully North well in the Perth Basin in the December quarter of this year. The contract also gives Empire an option to drill up to a further four wells in 2016 as part of its strategy to explore its extensive Perth Basin acreage.
Australasia | Thursday, March 26, 2015

Hawkley Oil & Gas provides update on Sorochynska Well 201 production

Hawkley Oil and Gas Limited (ASX:HOG) provides the following update concerning the loss of gas production from Well 201 on the Sorochynska licence in Ukraine. In November 2014, the Sorochynska 201 well experienced a sudden significant decrease in production.
Russia FSU | Thursday, March 26, 2015

Getting exploration costs under control

The other day somebody asked me how I figured out what was the right level of spend on the various components of exploration costs and I reminded myself of the 'rule of thumb' that I learned somewhere in BP namely that of the total exploration spend: 50% should be on drilling 50% of the rest i.e.
West Europe | Thursday, March 26, 2015

Magnolia LNG project on target for first LNG in 2018

The Directors of Liquefied Natural Gas Limited (ASX: LNG; OTC ADR; LNGLY) wish to provide a general update on the development progress of its 8 million tonne per annum (mtpa) Magnolia LNG Project (MLNG Project), in Louisiana, United States of America (US). The MLNG Project is held through the Company's indirect 100% owned US subsidiary, Magnolia LNG, LLC (MLNG) and is being designed to comprise four LNG trains, each of 2 mtpa design capacity and guaranteed 1.
North America | Thursday, March 26, 2015

Plexus Holdings signs Framework Agreement with Yantai Jereh Oilfield Services Group

Plexus Holdings plc, the AIM quoted oil and gas engineering services business and owner of the proprietary POS-GRIP® method of wellhead engineering, is pleased to announce that it has entered into a Framework Agreement with Yantai Jereh Oilfield Services Group Co., Ltd.
Asia Far East | Thursday, March 26, 2015

Fastnet Oil and Gas awarded new licensing option and extends existing options in its Celtic Sea portfolio

Fastnet (AIM: FAST, ESM: FOI), the UK and Irish listed E&P company focused on near-term exploration and appraisal acreage in Morocco and the Celtic Sea, is pleased to announce an update on its Celtic Sea portfolio. Highlights: Award of new operated licensing option named the Ventry Licensing Option in the North Celtic Sea Basin.
West Europe | Thursday, March 26, 2015

Oil price, Sundry-Amec-Genel-Plexus- And finally...

Oil price Super fast and short blog today, I am off early to do TipTV then have a number of company meetings. The main reason for posting is that the oil price which performed well yesterday has gone up sharply overnight as the Saudis launch air strikes on the Yemen following the Presidents eviction and appeal for help.
West Europe | Thursday, March 26, 2015

Oilex continues to make progress on construction of oil and gas production facilities at Cambay-73

Oilex Ltd is pleased to provide an update on construction of the oil and gas production facilities at Cambay-73. Overall progress of the project is 77% complete.
Asia Far East | Thursday, March 26, 2015

Gazprom Board of Directors addresses issue of exchange gas trade development in Russia

The Gazprom Board of Directors took notice of the information about the development of the exchange gas trading system. The Management Committee was tasked to proceed with this activity.
Russia FSU | Thursday, March 26, 2015

Empyrean Energy reports fourth quarter 2014 production from Sugarloaf AMI, Texas

Empyrean Energy, the profitable US onshore oil, gas and condensate exploration, development and production company with assets in Texas and California, is pleased to provide an update in respect of production from its flagship Sugarloaf AMI Project in the prolific Eagle Ford Shale, Texas, for the three month period to the end of December 2014. Empyrean has a 3% working interest in the Project, which is operated by Marathon Oil Company, a subsidiary of US major Marathon Oil Corporation (NYSE: MRO).
North America | Thursday, March 26, 2015

Dolphin Geophysical seismic survey breaks industry records

Dolphin has just mobilised the 'world's largest floating object' by deploying a seismic spread of 12 streamers, 7,050 meters in length with 150 meters streamer separation, off the coast of Myanmar for Ophir Energy Plc. This configuration of equipment has a moving width of 1.
Asia Far East | Wednesday, March 25, 2015

Kongsberg Maritime acquires Contros Systems & Solutions GmbH

Kongsberg Maritime AS, a wholly owned subsidiary of Kongsberg Gruppen ASA, has acquired the remaining 90% of the shares of the Germany based underwater chemical sensors specialist Contros Systems & Solutions GmbH. Contros was established in 2006 and is based in Kiel, close to Hamburg.
West Europe | Wednesday, March 25, 2015

Pan Orient Energy Corp. provides update on L53 concession wells, Thailand

Concession L53 Onshore Thailand - L53-DC1ST1 Appraisal Well Pan Orient Energy Corp. (TSX VENTURE:POE) is pleased to provide an update on the L53-DC1ST1 appraisal well on behalf of Pan Orient Energy (Siam) Ltd.
Asia Far East | Wednesday, March 25, 2015

SPDC completes sale of OML 29 & NCTL in Nigeria

The Shell Petroleum Development Company of Nigeria Limited (SPDC), a subsidiary of Royal Dutch Shell plc (Shell), has completed the assignment of its interest in oil mining lease (OML) 29 and the Nembe Creek Trunk Line (OML29 and NCTL) and related facilities in the Eastern Niger Delta. Its interests in OML29 and the Nembe Creek Trunk Line were assigned to Aiteo Eastern E&P Company Limited.
Africa | Wednesday, March 25, 2015

Oil price, Bowleven, Petroceltic, Plexus, Pantheon, Faroe, Sundry-Whiting-Linn Energy-Highlands Natural Resources- And finally...

Oil price No blog yesterday as I was reading the Plexus statements..
West Europe | Wednesday, March 25, 2015

Upstream capital expenditure declined 12% year-over-year in fourth-quarter 2014

ased on financial statements from selected international oil and natural gas companies, spending on upstream investments was 12% lower in fourth-quarter 2014 compared to the same period in 2013. Upstream spending on exploration and development typically accounts for the bulk of these companies' investment expenditures.
North America | Wednesday, March 25, 2015

C&J Energy Services and Nabors Industries complete combination transaction

C&J Energy Services, Inc. and Nabors Industries Ltd.
North America | Wednesday, March 25, 2015

Northern Offshore announces Rosneft service order termination for jackup Energy Endeavour

Northern Offshore, Ltd. (Oslo Bors: NOF.
Russia FSU | Wednesday, March 25, 2015

Rooster Energy announces the death of Chief Financial Officer

Rooster Energy Ltd. (TSX VENTURE:COQ) today announces the untimely death of James D.
North America | Wednesday, March 25, 2015

Outrider Energy Corp. announces effective date of share consolidation and resignation of advisory board members

Outrider Energy Corp. (CSE:MCF) announces that the Company's share consolidation will take effect for trading purposes on the Canadian Securities Exchange as of Thursday, March 26, 2015.
North America | Wednesday, March 25, 2015

Hawk Exporation announces year end reserves highlights and provides operational update

Hawk Exploration Ltd. (TSX VENTURE:HWK.
North America | Wednesday, March 25, 2015

Lion Energy announces encouraging gas shows in Lofin-2 appraisal well

Lion Energy Ltd (ASX Code: LIO) is pleased to advise that Lofin-2 appraisal well is currently preparing to cut an 18m core to provide important rock data to assist in the evaluation of the well. Only 1.
Asia Far East | Wednesday, March 25, 2015

Abilene Oil and Gas announce Woelk #1-19 initial production of 33 bopd

Abilene Oil and Gas Limited is pleased to provide a further updates on initial production rates at the Company's Central Kansas Uplift Project. The Company has been advised by the joint venture operator, CMX Inc.
North America | Wednesday, March 25, 2015

Fugro opens new office in Ghana and announces partnership with Lima Oil Services

Fugro's continued expansion in Africa was marked with the recent establishment of Fugro Ghana Limited in Accra. This new base provides access to Fugro's comprehensive range of services and will support the promising market for oil and gas projects for its clients in the processes of exploration, construction and field development in Ghana.
Africa | Wednesday, March 25, 2015

Neon Energy announces Board changes and plans to withdraw from Block WA 503-P

Following the Shareholder General Meeting held today and in accordance with the Bid Implementation Agreement announced to the ASX on 19 December 2014, Neon Energy confirms that it has appointed Mr Ross Williams as a Non Executive Director. Mr Williams is a founding shareholder of MACA Limited and up until July 2014 held the position of CFO and Finance Director with responsibility for capital management, finance, financial reporting and corporate strategy.
Australasia | Wednesday, March 25, 2015

Pantheon Resources operations face 'modest delay' due to severe weather conditions

Pantheon Resources plc, the AIM-quoted oil and gas company with a 50% working interest in several projects within Tyler and Polk Counties, East Texas, provides the following operational update: Drilling Timetable Pantheon is pleased to announce that the JV has agreed heads of terms for the contracting of a suitable rig for the drilling of two wells in its upcoming drilling programme. The severe weather conditions of recent weeks, which have included torrential rainfall and localised flooding in certain areas of East Texas where drilling is planned, have resulted in what is expected to be a modest delay to the start of operations at the drilling site.
North America | Wednesday, March 25, 2015

Green Dragon Gas' first LiFaBriC well exceeds 1Bcf of cumulative production

Green Dragon Gas, the leading independent gas producer with operations in China, is pleased to announce that GSS 008, the first well to be drilled using Green Dragon Gas' LiFaBriC completion methodology, on line since March 21st 2008, has completed seven years of continuous gas production, with no decline in production rates. The well has produced a cumulative 1.
Asia Far East | Wednesday, March 25, 2015

Tax Relief for the North Sea Industry

Last week the Chancellor offered some relief to a North Sea industry suffering from high costs and low oil prices. He didn't do it out of the kindness of his heart but rather to keep new projects coming online and to make investment in old fields that bit more attractive.
West Europe | Wednesday, March 25, 2015

Task Force on Shale Gas recommends new UK regulator for onshore underground energy

Today, the Task Force on Shale Gas released its first interim report on UK Planning, Regulation and Local Engagement. The report includes a series of recommendations to address the UK's current planning and regulatory system, including the recommendation for a new UK regulator for onshore underground energy.
West Europe | Wednesday, March 25, 2015

Hibiscus awards Benthic geotechnical site investigation contract

Benthic, a global geosciences company, has been awarded a contract by Carnarvon Hibiscus Pty Ltd (CHPL), a wholly owned subsidiary of Hibiscus Petroleum Berhad, for an offshore geotechnical investigation in the Sea Lion Field off the coast of South Eastern Australia in the Bass Strait. Operating from a client issued vessel, Benthic's PROD1 (Portable Remotely Operated Drill) will perform rotary drilling and piston coring, and in-situ testing using a piezo-cone penetrometer to identify the seabed ground conditions for a well to be drilled using a jack up at the Sea Lion prospect.
Australasia | Wednesday, March 25, 2015

AWE spuds Irwin-1 exploration well

AWE Limited (ASX: AWE) advises that the Irwin-1 exploration well, located in the onshore Perth Basin, Western Australia, was spudded at 08:45 hours (8:45 am) AWST on Wednesday, 25 March 2015. The Irwin prospect straddles the EP320 (AWE 33%) and L1 (AWE 50%, Operator) boundary and the Irwin-1 drilling program is being operated by AWE under an agency agreement with joint venture partner, Origin Energy Limited (ASX: ORG).
Australasia | Wednesday, March 25, 2015

Petroceltic and Hess withdraw from Dinarta license

Petroceltic International plc (AIM: PCI), the oil and gas exploration, development and production company focused on the Middle East, North Africa and Mediterranean regions, today provides an update with respect to its operations in the Kurdistan Region of Iraq. As previously announced on 15 January, drilling operations on the Shireen-1 exploration well in the Dinarta licence (Hess Middle East New Ventures (Operator) 64%, Petroceltic 16%, and the Kurdistan Regional Government 20%) encountered significant operational challenges since the resumption of drilling on 2 October 2014.
Middle East | Wednesday, March 25, 2015

Growth strategy leads Atlas Development to expansion in North Africa

Atlas Development (AIM:ADSS), the Kenyan headquartered, African focussed support services and logistics company, is pleased to announce that it has been engaged to provide civil engineering supervisory, advanced life support, security and risk advisory services to a European and North African focussed oil and gas company operating in Western Sahara. The agreement is in line with the Company's strategy of leveraging its existing profitable operating platform and experience supplying international companies with critical support services and logistics in East Africa, to expand its geographic exposure and profile.
Africa | Wednesday, March 25, 2015

Lundin Petroleum spuds appraisal well on the Alta discovery in the Barents Sea South

Lundin Petroleum AB (Lundin Petroleum), through its wholly owned subsidiary Lundin Norway AS (Lundin Norway), is pleased to announce that drilling of appraisal well 7220/11-2 in PL609 has commenced. The Alta discovery is located 10 to 20 km northeast of Lundin Petroleum's Gohta discovery in the Barents Sea South and approximately 160 km from the Norwegian coastline.
West Europe | Wednesday, March 25, 2015

Oil & Gas UK and Gas Forum extremely disappointed at ACER decision

Oil & Gas UK and the Gas Forum are extremely disappointed that the European energy regulator, ACER, has decided not to take forward their proposed amendment to the new EU Network Codes which sought to allow the UK to retain its existing 'gas day' of 6am-6am. The result of this decision is that, from 1 October 2015, the UK gas market will have to operate with two different gas days, 6am-6am upstream and 5am-5am in the downstream network at most terminals bringing UK continental shelf gas to the National Transmission System (NTS).
West Europe | Tuesday, March 24, 2015

Maple Leaf Royalties Corp. enters agreement to purchase oil and gas assets

Maple Leaf Royalties Corp. (TSX VENTURE:MPL) is pleased to announce that it has entered into a definitive purchase agreement with Maple Leaf 2012-II Energy Income Limited Partnership pursuant to which it has agreed to acquire various royalty interests and non-operated working interests in a total of 17 oil and natural gas wells in Alberta and Saskatchewan in consideration of the issuance and delivery to Vendor of 23,500,000 common shares of Maple Leaf.
North America | Tuesday, March 24, 2015

Circle Oil CEO resigns

Circle Oil Plc (AIM: COP), the Middle East and North Africa focused oil and gas exploration, development and production company, wishes to announce that Professor Chris Green has now resigned as a Director and as Chief Executive Officer of the Company. Professor Green had, as already announced on 11 November 2014, notified the Company of his intention to step down from the Board and resign as Chief Executive Officer.
West Europe | Tuesday, March 24, 2015

Perisson Petroleum announces corporate changes

Perisson Petroleum Corporation (CSE:POG) announces the following management changes, which are meant to better position the Company to undertake necessary exploration activities on its VMM-17 block in Colombia, South America. Messrs.
North America | Tuesday, March 24, 2015

Low Oil & Gas Prices Result in Major Asset Impairments Across the U.S.

Large impairments rocked many U.S.
North America | Tuesday, March 24, 2015

The UK may lose a large part of its gas storage, but does it matter?

It went largely unnoticed by the general media, but last week there was a significant announcement for the UK gas industry: the country's main gas storage site may have its capacity cut by around a quarter, reducing the volumes that can be held in reserve next winter. Just two years ago, during a cold winter, there were warnings that the country 'was just six hours away from running out of gas.
West Europe | Tuesday, March 24, 2015

First quarter drilling program is largely unsuccessful for Murphy Oil Corporation

Murphy Oil Corporation (NYSE:MUR) announced today the results from its recent exploration drilling program. In the Gulf of Mexico, the Urca well in Mississippi Canyon Block 697 failed to encounter hydrocarbons and has been plugged and abandoned.
North America | Tuesday, March 24, 2015

Wall Street Losing Millions From Bad Energy Loans

Oil companies continue to get burned by low oil prices, but the pain is bleeding over into the financial industry. Major banks are suffering huge losses from both directly backing some struggling oil companies, but also from buying high-yield debt that is now going sour.
North America | Tuesday, March 24, 2015

Chesapeake Energy Corporation updates 2015 operating plan in response to low commodity price environment

Chesapeake Energy Corporation (NYSE:CHK) today announced it has reduced its 2015 capital budget (including capitalized interest of $500 million) to $3.5 - $4.
North America | Tuesday, March 24, 2015