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Neos to acquire the Multi-Physics business from CGG for an undisclosed sum

Neos today announced an agreement with CGG SA (CGG:PAR,ADR:NYSE:CGG) to acquire its Multi-Physics business group, its General Geophysics Italy group and its data libraries for an undisclosed sum. This acquisition will be transformational for Neos.
North America | Friday, April 29, 2016

Skyland acquires 20% interest in potential production project in Georgia

Skyland Petroleum Limited (ASX: SKP) is pleased to announce the completion of its acquisition of a 20% interest in the Block XIG Production Sharing Contract ('PSC') in the Republic of Georgia. In November 2015, the Company signed an agreement with its local partner, Georgia Oil & Gas Limited ('GOG'), to acquire a 20% stake in the Block XIG licence.
Russia FSU | Friday, April 29, 2016

Petrofac becomes Duty Holder for BP Miller, located in the Central North Sea

Petrofac has been awarded a Duty Holder contract from BP to support the late life management of the Miller platform, located in the Central North Sea. The contract is for 'life of asset' but has a four-year ceiling at which point extension options will be reviewed as required.
West Europe | Friday, April 29, 2016

Suncor Energy to acquire additional interest in Syncrude

Suncor today announced that it has agreed to acquire a further position in Syncrude, purchasing the five per cent interest from Murphy Oil Corporation's Canadian subsidiary at a purchase price of approximately $937 million, subject to closing adjustments. The transaction will be effective as of April 1, 2016.
North America | Friday, April 29, 2016

88 Energy provide report for the quarter ended 31 March 2016

Report on Activities for the Quarter ended 31 March 2016 The Directors of 88 Energy Limited ('88 Energy' or the 'Company', ASX & AIM:88E) provide the following report for the quarter ended 31 March 2016. Highlights Phase I Evaluation of Icewine#1 Exploration Well Successfully Completed Key 'Achilles' Heels' for HRZ Liquids Rich Resource Play substantially mitigated, including: Brittleness: Analogous to Haynesville and Marcellus plays Highly amenable to fracture stimulation operations Hydrocarbon Phase / Thermal Maturity: Volatile oil vapour phase with higher liquids content than forecast Bottom Seal / Overpressure: Elevated pore pressure materially above hydrostatic gradient Matrix Permeability: Analogous to Haynesville & substantially higher than Eagle Ford Porosity Excellent by comparison to other successful shale plays, including Eagle Ford Phase II: Appraisal Program for HRZ Play Initiated Appraisal: Icewine#2H (Horizontal with Multi-Stage Frac) HRZ Production Test Preliminary AFE and drilling design launched Detailed core-based fraccing, completion, and production profile design commenced 2D Seismic program initiated in March 2016 post funding approval by Bank of AmericaKey Events Subsequent to the Quarter Independent Resource Report released on 6th April 2016 confirming large upgrade to Project Icewine recoverable liquids potential Commitments received from Institutions and Sophisticated Investors in Australia, Asia and UK for strongly oversubscribed A$25m capital raising Change to Executive Services Contract for Managing Director, post Independent Peer Remuneration Review and achievement of key milestones: base salary increased from A$300,000 to A$400,000 per annum, effective 1st May 2016Upcoming Events Evaluation and integration of the core from Icewine#1 is now focused on fine tuning of the Phase II Appraisal Program that is ongoing, with results expected on key variables over the coming period, including: Proppant Embedment - to determine the optimal size and type of proppant Fluid Sensitivity - determines the best fluid type for carrying proppant and minimising chemical interaction with the rock Borehole Stability - confirmation of stress direction for optimisation of orientation of lateral section Completion of 2D Seismic Acquisition and Commencement of Processing and Interpretation Finalisation of Icewine#2H Well Design Integration of Evaluation Parameters from Icewine#1 Core into Well Performance Simulation Formal Award of Additional ~174,000 Acres Successfully Bid on in November 2015The ASX Appendix 5B attached to this report contains the Company's cash flow statement for the quarter.
Australasia | Friday, April 29, 2016

Circle Oil reserves and contingent resources update

Reserves and Contingent Resources Update Circle Oil plc (AIM: COP) the international oil and gas exploration, development and production company, announces the results of the Company's 2015 year-end reserves and resources assessment. The Company has engaged a new provider for the evaluation of its reserve and resource base, LR Senergy, a leading independent auditor of hydrocarbons.
West Europe | Friday, April 29, 2016

Ophir Energy cancels talks with Schlumberger on the Fortuna FLNG project

Ophir provides an update on the project workstreams leading to Final Investment Decision ('FID') on the Fortuna FLNG Project: 1) Since the 26 January 2016 announcement of a non-binding Heads of Terms Agreement with Schlumberger for upstream participation, Schlumberger has satisfactorily completed its technical due diligence. However, Ophir and Schlumberger have been unable to complete the transaction on the terms agreed in the Heads of Terms.
West Europe | Friday, April 29, 2016

Premier complete the acquisition of UK North Sea assets from E.ON

The Board of Premier is pleased to announce that following receipt of all necessary approvals, the acquisition of the UK North Sea assets from E.ON has now completed.
West Europe | Friday, April 29, 2016

ConocoPhillips reports a first-quarter 2016 net loss of $1.5 billion

ConocoPhillips (NYSE:COP) today reported a first-quarter 2016 net loss of $1.5 billion, or ($1.
North America | Thursday, April 28, 2016

Sinopec 2016 first quarter's net profit grows over 200% YoY

China Petroleum & Chemical Corporation (Sinopec) (HKEX: 386; SSE: 600028; NYSE: SNP) today announced its unaudited results for the three months ended 31 March 2016. Financial Highlights Amid low oil prices, the Company's mid- and down-stream segments became the main profit growth drivers.
Asia Far East | Thursday, April 28, 2016

Polarcus announce a new capital structure

Polarcus Limited (OSE: PLCS) announces the release of its first quarter 2016 financial statements. HEADLINES Q1 2016: Revenues of USD 63.
West Europe | Thursday, April 28, 2016

Hess loses $509m in the first quarter of 2016

Hess Corporation reported a net loss of $509 million, or $1.72 per common share, in the first quarter of 2016 compared with a net loss of $389 million, or $1.
North America | Thursday, April 28, 2016

Schlumberger to acquire coiled tubing drilling units from Xtreme

Schlumberger announced today it has entered into an agreement to acquire the coiled tubing drilling and coiled tubing units from Xtreme Drilling and Coil Services Corp. (TSX:XDC), a Calgary-based provider of international land drilling and coiled tubing drilling services.
North America | Thursday, April 28, 2016

Can OPEC 'freeze' production, or is it already frozen?

Between July 2014 and January 2015 the price of OPEC's oil 'market basket' fell from over $100/bbl to less than $50/bbl, causing considerable hardship to the OPEC countries who rely on oil exports to finance their national budgets - which is all twelve of them. Under these circumstances the logical reaction for a cash-strapped, oil-rich country would be to pump more oil to increase revenues , yet only two - Saudi Arabia and Iraq - actually did so.
Middle East | Thursday, April 28, 2016

Tullow announce trading update

Tullow Oil plc (Tullow) issues the following Trading Update, for the period 1 January to 28 April 2016. This statement is issued in advance of the Group's Annual General Meeting which is being held at Tullow Oil plc, Building 9 Chiswick Park at 12pm today.
West Europe | Thursday, April 28, 2016

Tlou Energy update on Botswana activities

Operational report - quarter ending 31 march 2016 Lesedi CBM Project Area, Botswana PLs 001-003/2004 and PLs 35 & 37/2000 Tlou Energy Limited 100% Operations The Company is focused on delivering power in Botswana and Southern Africa through the development of coal bed methane ('CBM') projects. The Lesedi CBM Project ('Lesedi') is the most advanced CBM project in Botswana.
Africa | Thursday, April 28, 2016

Falcon Oil & Gas update on operations in the Beetaloo Basin, Australia

Falcon Oil & Gas Ltd. (TSX VENTURE:FO) (AIM:FOG) (ESM:FAC) is pleased to provide the following technical and operational update for its operations in the Beetaloo Basin, Australia.
Australasia | Thursday, April 28, 2016

Sound Energy announce that the first Tendrara well has now been drilled to the first casing point

Tendrara: First Casing Point Sound Energy, the European / Mediterranean focused upstream gas company, is pleased to announce that the first Tendrara well has now been drilled to the first casing point at a measured vertical depth ('MVD') of 496 metres and that the 13 3/8' casing has been successfully set and cemented in the aalenian dolomite formation. The Company will now proceed to drill towards the second casing point at an MVD of approximately 1,960 metres.
North Africa | Thursday, April 28, 2016

Sterling Energy withdraw from Ambilobe, Madagascar

Sterling Energy plc, the AIM listed oil and gas exploration company (AIM: SEY), announces that its wholly owned subsidiary, Sterling Energy (UK) Limited, has issued a notice of withdrawal from the Ambilobe block, offshore Madagascar to its joint venture partner Pura Vida Mauritius. Following the withdrawal, Sterling will cease to be the operator of the Ambilobe block.
Africa | Thursday, April 28, 2016

Northcote Energy chooses to take on a 3.75% interest in Andalas' Concession in Indonesia

Northcote (AIM: NCT) is pleased to announce that it has exercised its right to acquire a 3.75% working interest in the Tuba Obi East Technical Assistance Contract ('TOE'), which is located in the South Sumatran basin approximately 30km north-west of Jambi city in Jambi province, Sumatra.
Asia Far East | Wednesday, April 27, 2016

Cenovus finishes first quarter with strong balance sheet

Cenovus Energy Inc. (CVE) (CVE) is on track to achieve its previously announced target of reducing planned capital, operating and general and administrative (G&A) spending by up to $500 million compared with its original 2016 budget.
North America | Wednesday, April 27, 2016

NOVATEK announces aonsolidated IFRS results for First Quarter 2016

OAO NOVATEK today released its consolidated interim condensed financial statements as of and for the three months ended 31 March 2016 prepared in accordance with International Financial Reporting Standards ('IFRS'). IFRS Financial Highlights (in millions of Russian roubles) 1Q 2016 1Q 2015 Oil and gas sales 138,211 113,224 Other revenues 1,140 518 Total revenues 139,351 113,742 Operating expenses (97,159) (73,896) Net gain on disposal of interests in joint ventures 73,072 - Other operating income (loss) 971 (199) Profit from operations 116,235 39,647 Normalized EBITDA of subsidiaries* 50,823 44,704 Normalized EBITDA including share in EBITDA of joint ventures* 62,136 54,832 Finance income (expense) 916 (7,246) Share of profit of joint ventures, net of income tax 23,381 4,274 Profit before income tax 140,532 36,675 Profit attributable to OAO NOVATEK shareholders 115,917 31,075 Normalized profit attributable to OAO NOVATEK shareholders* 58,240 31,075 Normalized earnings per share* (in Russian roubles) 19.
Russia FSU | Wednesday, April 27, 2016

ENI upstream activities: A strategic management approach

According to the official website of the company ENI is 'a major integrated energy company committed to growth in the activities of finding, producing, transporting, transforming and marketing oil and gas'. ENI corporate structure presented in the below graph.
East Europe | Wednesday, April 27, 2016

Baker Hughes announces first quarter results - Revenue of $2.7 billion

Baker Hughes Incorporated (NYSE: BHI) announced today results for the first quarter of 2016. 'During the quarter, the industry faced another precipitous decline in activity, exceeding even the most pessimistic predictions, as E&P companies further cut spending in an effort to protect cash flows,' said Martin Craighead, Baker Hughes Chairman and Chief Executive Officer.
North America | Wednesday, April 27, 2016

Statoil reports adjusted earnings of USD 857 million in the first quarter of 2016.

Quote from Eldar Sætre, president and CEO. 'Our financial results were affected by low oil and gas prices in the quarter.
West Europe | Wednesday, April 27, 2016

Tap Oil complete development drilling on Manora oil development

Tap Oil Limited (ASX:TAP) provides the following update on the Manora Oil Development in the Northern Gulf of Thailand (Tap 30% interest). Mubadala Petroleum, Operator of the Manora Oil Development joint venture, has advised that drilling of the MNA-15 and MNA-16 development wells has now been completed.
Asia Far East | Wednesday, April 27, 2016

Technip awarded a contract extension for its Logistic Base in Vitória, Brazil

Technip has signed a four years extension of its five-year initial contract signed in January 2011 with Petrobras S.A.
South America | Wednesday, April 27, 2016

Eland Oil & Gas detail Gbetiokun-1 reserves and resources update

Financial and management update Eland Oil & Gas PLC (AIM: ELA), an oil & gas production and development company operating in West Africa with an initial focus on Nigeria, today makes the following announcement. Reserves & Resources Update The Company is pleased to announce the results of a Reserves and Resources evaluation on Gbetiokun-1, OML 40, ('Gb-1' or the 'Asset'), provided by Netherland, Sewell & Associates Inc.
Africa | Wednesday, April 27, 2016

Nostrum Oil & Gas announce operational update

First Quarter 2016 Operational Update Nostrum Oil & Gas PLC (LSE: NOG) ('Nostrum', or 'the Company'), 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 three month period ended 31 March 2016. This update is being issued in advance of the release of Nostrum's consolidated accounts for the same period.
Russia FSU | Wednesday, April 27, 2016

LGO Energy announce successful recompletion of Well GY-671, Goudron Field, Trinidad

LGO is pleased to announce that production has started from a new interval in well GY-671 on the Goudron Field in Trinidad. A total of 208 feet of perforations were added to the Upper C-sand reservoir after setting a packer to isolate this zone.
Central America | Wednesday, April 27, 2016

Rose Petroleum reduces costs and liabilities

Rose Petroleum plc, the AIM-quoted (AIM: ROSE) natural resources company, is pleased to provide an operational update on the current activities taking place within both its Oil and Gas and Mining divisions. In overview, given the very challenging market conditions, the board of directors of the Company (the 'Board') has taken major steps to reduce costs and liabilities across the Group to enable the Company to weather the current market conditions and to position the Company for the recovery.
North America | Wednesday, April 27, 2016

What should we expect in 2017?

Scanning the newspapers, social media and analyst coverage this year, there is consensus that a recovery in oil prices is coming, as a function of a reduction in over-supply, and that we should expect upward movement in prices later this year. The extent to which this view is built upon analysis of data or gut feel is unknown (and in all likelihood there is a bit of both) but our analysis of Douglas-Westwood's own drilling & production (D&P) data supports this view.
West Europe | Tuesday, April 26, 2016

Lansdowne fails to drill in time

Lansdowne Oil & Gas, the independent oil and gas company focussed on offshore Ireland, provides an update on Lansdowne's licences in the Celtic Sea offshore the south coast of Ireland. Standard Exploration Licences 5/07 (Rosscarbery) and 5/08 (Amergin) Due to adverse industry conditions, attempts to farm-out SEL 5/07, containing the Rosscarbery and SE Rosscarbery gas prospects, and SEL 5/08, containing the Amergin prospect, have been unsuccessful.
West Europe | Tuesday, April 26, 2016

Egdon Resources interim results for the six months ended 31 January 2016

Egdon Resources plc (AIM:EDR), the UK-based exploration and production company with a primary focus on the hydrocarbon-producing basins of the onshore UK, announces its unaudited interim results for the six months ended 31 January 2016. A presentation for analysts will be held at 9:30am on 26 April 2016 at the offices of Buchanan, 107 Cheapside, London EC2V 6DN.
West Europe | Tuesday, April 26, 2016

Oil price, BP, Egdon, Victoria Oil & Gas, Ithaca Energy, Sundry-Halliburton-COPL-Plexus-And finally...

Oil price Blogs later this week may be a bit patchy I'm afraid with company meetings in and away from the UK. The WTI price took the brunt of the fall yesterday primarily due to the Genscape figures pointing to a 1.
West Europe | Tuesday, April 26, 2016

OPEC's grip might loosen, but it still has pull

OPEC counts 13 countries among its membership, but one of them has long reigned as a first among equals. Saudi Arabia, with its production of around 10.
Middle East | Tuesday, April 26, 2016

Statoil moves into German offshore wind market with EUR 1.2 billion project with E.ON

Statoil today enters the German offshore wind market, through a 50% acquisition of the Arkona offshore wind farm. Statoil and E.
West Europe | Tuesday, April 26, 2016

BP first quarter 2016 results

BP today reported its results for the first quarter of 2016. Underlying replacement cost profit1 for the quarter was $532 million, compared with $196 million for the previous quarter and $2.
West Europe | Tuesday, April 26, 2016

Southern Kentucky Energy completes acquisition of Natural Gas Operations

Southern Kentucky Energy, LLC (SOKY Energy) announced today that it has completed the purchase of natural gas gathering and transmission pipelines in South Central Kentucky from Atmos Gathering Company, LLC of Houston, TX. SOKY Energy has also acquired over 100 producing gas wells that are connected to the pipeline network from Pioneer Oil Company, Inc.
North America | Monday, April 25, 2016

Craze for LNG

Pricing policy of only one man, John D. Rockefeller, led to a decrease in the cost of kerosene in the US oil products' market of the late 19th century from 26 cents to eight cents per gallon during 15 years, while the market share of the Standard Oil Company led by him increased from 4 percent to 80 percent.
West Europe | Monday, April 25, 2016

Eland Oil & Gas annouce Opuama-3 Workover Update

Eland Oil & Gas PLC (AIM: ELA), an oil & gas production and development company operating in West Africa, with an initial focus on Nigeria, is pleased to announce that, its joint-venture subsidiary Elcrest Exploration and Production Nigeria Ltd together with NPDC, its partner on OML 40, has completed the perforation of two new intervals in the Opuama-3 well and increased production from the two strings. Following the operational update on the Opuama-3 well re-entry announced on 14 April 2016 the following operation highlights have taken place on Opuama Field: Following the Production Logging Tool (PLT) runs in both strings of the Opuama 3 well the water ingress was identified to be coming from the lower D5000 producing interval.
Africa | Monday, April 25, 2016

Panyu 11-5 Oilfield commences production for CNOOC

CNOOC Limited today announced that the Panyu 11-5 oilfield has commenced production. The Panyu 11-5 oilfield is located in the Pearl River Mouth Basin of the South China Sea with an average water depth of approximately 110 meters.
Asia Far East | Monday, April 25, 2016

Sterling Energy makes statement regarding financial position and production

Sterling Energy plc together with its subsidiary undertakings is today issuing its Interim Management Statement and financial results for the first quarter ended 31 March 2016. All figures are unaudited unless stated otherwise.
West Europe | Monday, April 25, 2016

CGG Geosoftware launches VelPro 9.5 velocity modeling software

CGG GeoSoftware has released VelPro 9.5, an industry-leading velocity modeling and depth conversion commercial software technology used by interpreters and velocity modeling experts to seamlessly integrate seismic and well velocity information, horizons, faults, and well tops into robust and data-driven velocity models.
West Europe | Monday, April 25, 2016

Jersey Oil and Gas announce Final Results for the year ended 31 December 2015

Final Results for the year ended 31 December 2015 Jersey Oil & Gas (AIM: JOG), an independent oil and gas company which is pursuing an acquisition-led strategy in the UK Continental Shelf region of the North Sea, is pleased to announce its audited results for the year ended 31 December 2015. Highlights Settlement agreement negotiated and entered into with the Athena oilfield consortium to ring-fence the Group's contractual liabilities associated with its interest in Licence P.
West Europe | Monday, April 25, 2016

Oil price, Pantheon, Aminex, And finally...

Oil price The oil price finished up at the end of the week, the rig count, showing a fall of 9 units to 431 and 8 in oil to 343 helped as did the CFTC numbers which indicated a big rise of 33m barrels in net speculative length in WTI. The week's rise was two dollars almost exactly for both crudes and the momentum is still upwards even if the fundamentals still look decidedly dodgy.
West Europe | Monday, April 25, 2016

GE likely to become the third largest oilfield service provider

According to Rystad Energy's latest estimate, GE may become the third largest oilfield service provider in 2016, if the company buys the planned divestments by Halliburton and Baker Hughes. In addition, GE is more sheltered amid the downturn in oil prices due to exposure to equipment and more resilient product lines.
West Europe | Monday, April 25, 2016

Frontera advances natural gas exploration efforts at the South Kakheti Gas Complex in Georgia

Frontera Resources Corporation (AIM: FRR), an independent oil and gas exploration and production company, is pleased to announce an operations update for its work in the South Kakheti Gas Complex's Gas Window initiative, situated within its portfolio in the country of Georgia. Highlights: Operational and technical work advancing associated with the central and western areas of the Complex Operations at the Udabno#2 well are now continuing in May New 37 well plan to exploit approximately 1 TCF of gasOperations and advancing technical studies within the western and central areas of the Complex have continued throughout the first quarter of this year where significant natural gas resources have been identified in targeted reservoirs situated between 300 metres and 5,000 metres in depth.
Russia FSU | Monday, April 25, 2016

PetroNeft Resources finalise agreement with Natlata

Agreement with Natlata PetroNeft (AIM: PTR) an oil & gas exploration and production company operating in the Tomsk Oblast, Russian Federation, and 50% owner and operator of Licences 61 and 67 and Natlata Partners Limited, PetroNeft's largest shareholder are pleased to announce they have reached an agreement on a new Board composition and structure. Accordingly, Natlata has agreed to withdraw all of its resolutions due to be considered at the reconvened EGM due to take place at 11 a.
Russia FSU | Monday, April 25, 2016

SacOil updates on African Renaissance Gas Pipeline in Mozambique

UPDATE ON THE AFRICAN RENAISSANCE GAS PIPELINE IN MOZAMBIQUE Further to the announcement on 1 March, 2016, SacOil announces that a Joint Venture Agreement for the development of the African Renaissance Pipeline Project ('Project') was signed in Maputo, Mozambique on Friday, April 22, 2016 by the following parties i.e.
Africa | Monday, April 25, 2016

Pantheon Resources operational update for Texas

Pantheon Resources plc, the AIM-quoted oil and gas exploration and production company with a 50% working interest in several projects in Tyler and Polk Counties, East Texas, is pleased to announce the following operational update: Drilling rig contracted for three well programme The Directors are pleased to announce that the operator Vision Operating Company LLC, (the 'operator'), has formally contracted the Nabors Rig F-12 for the drilling of three consecutive wells in its upcoming drilling programme. The first two wells will be horizontal development wells stepping out from the recent VOBM#1 discovery well in Polk County, and the third well in the programme will be a step out appraisal well, also drilled horizontally, approximately five miles west of the recent VOS#1 discovery well in Tyler County.
North America | Monday, April 25, 2016

Aker Solutions wins engineering framework agreement from Lundin Norway

Aker Solutions secured a framework agreement from Lundin Norway to provide engineering services for offshore developments in Norway. The agreement covers early-phase studies, pre-engineering (FEED) work, verifications and follow-on engineering for Lundin Norway.
West Europe | Friday, April 22, 2016

Arabella Exploration announces passing of Chief Financial Officer

Arabella Exploration, Inc. (OTC PINK: AXPLF), an oil and gas E&P company focused on the Permian Basin, today announced with regret that its Chief Financial Officer, Terry E.
North America | Friday, April 22, 2016

Oil price, Amerisur, Schlumberger, Sundry-Bowleven-Providence-Andes Energia-Bucket list-And finally...

Oil price Who woulda guessed, five days after the Doha disaster the oil price, despite falling yesterday, is likely to end up the best part of five bucks up on the week? This morning the new June WTI contract is around $44 and Brent is dead on $45, this is despite a strong greenback and handbags about production levels from Russia, Saudi Arabia and Libya. All those countries have said that they will up their production but may not be able to deliver.
West Europe | Friday, April 22, 2016

Precision Drilling Corporation announces senior management appointments

Precision Drilling Corporation (TSX:PD) (NYSE:PDS) is pleased to announce that its Board of Directors has appointed Carey Ford as Senior Vice President and Chief Financial Officer and Veronica Foley as Senior Vice President, General Counsel and Corporate Secretary. 'Both Carey and Veronica have consistently demonstrated the depth of their knowledge and expertise in their respective disciplines, as well as their significant leadership in the execution of Precision's business plans and strategies.
North America | Friday, April 22, 2016

First State Funds completes purchase of Vector Gas Limited

Vector Gas Limited has been renamed First Gas Limited today, following the successful completion of the $952.5 million purchase of the business by First State Funds from Vector Limited.
Australasia | Friday, April 22, 2016

What's behind Timor-Leste's approach to solving the Timor Sea dispute?

In recent years, disputes over the resource-rich Timor Sea have consumed bilateral relations between Timor-Leste and Australia. The Timor-Leste government's key goal is to settle permanent maritime boundaries.
Australasia | Friday, April 22, 2016

Zoltav Resources announces final 2015 results

Zoltav (AIM:ZOL), the Russia and CIS-focused oil and gas exploration and production company, announces final results for the year ended 31 December 2015 - a period in which the Company generated its first operating profit. Financial Highlights Revenues from production increased by 41% to US$28.
Russia FSU | Friday, April 22, 2016

Andes Energia announces group production update

The Board of Andes (AIM: AEN; BCBA: AEN) is pleased to provide an update on current production at a Group level based on the February 2016 sales and production reports. Group production for February 2016 was 3,538* bpd (January 2016: 3,487 bpd).
South America | Friday, April 22, 2016

Amerisur Resources spuds Jaguareté-1, Paraguay

Amerisur Resources Plc, the oil and gas producer and explorer focused on South America (LSE: AMER), is pleased to announce the spudding of Jaguareté-1, in the San Pedro block within the Parana basin in eastern Paraguay using the Quieroz Galvao QG-1 drilling rig. Jaguareté-1 is expected to take approximately 40 days to drill to an estimated total depth of 10,000ft and is targeting the Santa Elena and Lima formations of Devonian age and carries prospective resources of 106 million barrels of oil.
South America | Friday, April 22, 2016

SacOil announces award of crude allocation by NNPC

Key highlights: SacOil and Energy Equity Resources signed a memorandum of understanding to explore oil and gas opportunities in the Republic of Nigeria. Pursuant to the initiative, SacOil and EER, was awarded a twelve month term contract for the purchase of Nigerian Crude Oil Grades by the Nigerian National Petroleum Corporation.
Africa | Friday, April 22, 2016

Sirius Petroleum provides operations update

Sirius Petroleum (AIM: SRSP), the investing company focused on oil and gas exploration and development opportunities in Nigeria, is pleased to provide the following update: the commissioning of a Competent Persons Report ('CPR'); updated volumetrics associated with the Ororo field and formulation of a gas commercialisation strategy; and update on DPR/other agreements and permits. Competent Persons Report on Ororo Field Sirius is pleased to announce that it has engaged independent petroleum consultants, Rockflow Resources Limited, to produce a Competent Person's Report on the Ororo Field located in OML 95, in shallow waters offshore Nigeria, to assist the Company in its discussions with potential funding providers.
Africa | Friday, April 22, 2016

Schlumberger announces first quarter 2016 results

Revenue of $6.5 billion decreased 16% sequentially EPS of $0.
North America | Friday, April 22, 2016

Cue Energy releases first quarter 2016 activities report

Production Total net production in the quarter of 190,140 boe comprised of 69,220 bbls and 725.52 mmcf.
Australasia | Friday, April 22, 2016

Santos Energy provides 2016 first quarter activities report

KEY HIGHLIGHTS First quarter production of 15.6 mmboe was up 11% on the corresponding quarter and 5% higher than the previous quarter.
Australasia | Friday, April 22, 2016

Lundin Petroleum provides first quarter 2016 financial update

Lundin Petroleum AB will expense pre-tax exploration costs of approximately MUSD 71 and recognise a net foreign exchange gain of approximately MUSD 159 for the first quarter of 2016. The profitability for the first quarter of 2016 will be impacted by certain expensed exploration costs as well as a net foreign currency exchange gain, mainly related to the revaluation of loan balances.
West Europe | Friday, April 22, 2016

Bowleven granted extension on Bomono licence

Bowleven, the Africa focused oil and gas exploration group traded on AIM announces that it has been awarded a one year extension to the existing Bomono exploration licence, onshore Cameroon, pending the final award of an Exploitation Authorisation (EA). The Bomono Exploitation Authorisation Application (BEAA) was submitted to the Cameroon authorities prior to the formal expiry of the exploration licence on 12 December 2015 to enable the progression of development activities.
Africa | Friday, April 22, 2016

Technip to provide proprietary equipment for S-Oil's refinery in South Korea

Technip was awarded a contract by Daelim Industrial Company to provide proprietary equipment for the world's first commercial High Severity Fluid Catalytic Cracking (HS-FCC) unit. The HS-FCC cracks heavy hydrocarbons into lighter olefins such as propylene and lighter fuels such as gasoline.
Asia Far East | Friday, April 22, 2016

Basic Energy Services reports first quarter 2016 results

Basic Energy Services, Inc. (NYSE: BAS) today announced its financial and operating results for the first quarter ended March 31, 2016.
North America | Thursday, April 21, 2016

Qatar's OPEC MAX meeting and the oil price rout that wasn't

There was much gnashing of teeth as Qatar's grand meeting of oil producers failed to reach agreement April 17 to freeze production at January levels. Commentators predicted a collapse in oil prices and some discerned the demise of OPEC itself.
Middle East | Thursday, April 21, 2016

PetroQuest Energy closes sale of majority of remaining Woodford Shale assets in the East Hoss field

PetroQuest Energy, Inc. (the 'Company') (NYSE: PQ) today announced the closing of the sale of the majority of its remaining Woodford Shale assets in the East Hoss field (the 'Sold Assets') for gross proceeds of $18 million, subject to purchase price adjustments between the effective date of April 1, 2016, and the closing date.
North America | Thursday, April 21, 2016

Madalena Energy announces selected financial and operational information for 2015

Madalena Energy Inc. (TSXV: MVN and OTCQX: MDLNF) is pleased to provide selected financial and operational information for the three months and year ended December 31, 2015.
North America | Thursday, April 21, 2016

AltaGas reports first quarter 2016 results

Highlights Normalized EBITDA of $178 million; Normalized funds from operations of $132 million; 198 Mmcf/d shallow cut Townsend Facility 85 percent complete, commissioning to begin mid-2016; Filed application with the B.C.
North America | Thursday, April 21, 2016

Serinus Energy provides first quarter 2016 operations update

Serinus Energy Inc. (TSX:SEN)(WARSAW:SEN) is pleased to provide the following update for its operations for the first quarter of 2016.
Middle East | Thursday, April 21, 2016

Canacol Energy achieves 90 MMSCFPD of realized gas sales

Canacol Energy Ltd. (TSX:CNE)(OTCQX:CNNEF)(BVC:CNEC) is pleased to provide the following update concerning its gas sales and the expansion of its Jobo gas processing facility.
South America | Thursday, April 21, 2016

Is There A Perfect Storm Coming for Natural Gas Prices?

Even before Tuesday's big jump in natural gas prices, I was intrigued to see some of the leading natgas stocks in the US hold up or go up on days natgas was down this week, like EQT, Southwestern, and Rice Energy, (which my colleague Bill Powers profiled at $9.47/share on Feb.
North America | Thursday, April 21, 2016

Oil price, Wood Group, Sound Energy, Range Resources, and finally...

Oil price Clutching at straws or what, the EIA inventory stats showed a build of 2.1m barrels, 200/- less than the market was expecting and the bunting goes out, however these numbers are at an important seasonal tipping point as the driving season is only a month away and demand is certainly strong.
West Europe | Thursday, April 21, 2016

Greka Drilling announces 2015 results

Greka Drilling Limited (AIM: GDL), the largest independent and specialised unconventional oil & gas driller in Asia, is pleased to announce annual results for the year ended 31 December 2015. HIGHLIGHTS OPERATIONAL HIGHLIGHTS: There were 3 principal contracted counterparties: Green Dragon Gas Ltd and PetroChina Huabei in China, and Essar Oil Limited in India.
West Europe | Thursday, April 21, 2016

Sound Energy commences drilling at Tendrara

Sound Energy, the European / Mediterranean focused upstream oil and gas company, is pleased to confirm the commencement of drilling of the first well at Tendrara, onshore Morocco. With the rig-up completed on 15 April, the well was spud on 20 April 2016.
North Africa | Thursday, April 21, 2016

Independent Resources applies for Ksar Hadada permit extension

Further to the announcement of 7 April 2016 the Board of Independent Resources plc, the AIM listed oil and gas exploration and production company (AIM:IRG) provides the following update regarding the Ksar Hadada hydrocarbon exploration permit, Tunisia. Entreprise Tunisienne d'Activités Pétrolières, Tunisia's national oil company, has at the request of Independent Resources Ksar Hadada Limited, a wholly owned subsidiary of the Company and sole contractor for the Permit, submitted an application for a one year extension to the permitting authority Direction Générale de l'Energie.
Middle East | Thursday, April 21, 2016

Repsol to sell LPG business in Peru and Ecuador to Abastible for $335 million

Repsol has entered into an agreement with the Chilean company Abastible to sell its LPG (Liquefied Petroleum Gas) businesses in Peru, for 980 million Peruvian soles, and in Ecuador, for 33 million dollars, totalling 335 million dollars at the current dollar/sol exchange rate, subject to the usual adjustments for these types of transactions. Both transactions are expected to close in upcoming months, once the necessary administrative authorizations are granted.
South America | Thursday, April 21, 2016

Tlou Energy expands gas production testing at Lesedi CBM Project to include two more wells

Tlou Energy Limited, the AIM and ASX listed company focused on delivering power in Botswana and southern Africa through the development of coal bed methane projects, is pleased to provide an update on the gas production testing at the Selemo pilot wells, located at its 100% owned Lesedi CBM Project. The aim of the gas testing program is to provide evidence of a sustainable gas production rate achievable from the field and to develop the first wells flowing commercial rates of gas in Botswana.
Africa | Thursday, April 21, 2016

Wood Group secures $150m five year North Sea contract with Nexen

Wood Group has been awarded a five year contract by Nexen, valued at $150 million. Extending a contract in place since April 2010, Wood Group PSN (WGPSN) will continue to deliver operations, maintenance and technical support across Nexen's North Sea offshore assets; the Buzzard, Scott and Golden Eagle platforms.
West Europe | Thursday, April 21, 2016

Range Resources Limited provides first quarter 2016 activities report

Range advises that today it has published its quarterly activities report for the period ended 31 March 2016. Trinidad operations The Company's oil and gas production for the period was 50,148 bbls (average of 551 bopd) net to Range, which is broadly unchanged from 547 bopd in the previous quarter.
Central America | Thursday, April 21, 2016

OMV Group releases first quarter 2016 trading statement

This trading statement provides basic provisional information for the quarter ended March 31, 2016, including data on the economic environment as well as OMV's performance during the period. The OMV Group Q1/16 results will be published on May 11, 2016.
West Europe | Thursday, April 21, 2016

TGS reports Q1 2016 earnings and announces intent to maintain quarterly dividend of USD 0.15 per share in Q2 2016

TGS reported net revenues of USD 64 million in Q1 2016, compared to USD 172 million in Q1 2015. Operating profit for the quarter was USD -21 million compared to USD 37 million in Q1 2015, reflecting the new amortization policy for seismic surveys (effective from 1 January 2016) which is based on straight-line amortization rather than linked directly to revenues.
West Europe | Thursday, April 21, 2016

Ensuring future growth and sustainability in challenging times: EBH Namibia puts strategic stabilisation plan into action

Like all stakeholders in the international oil and gas industry, leading ship repair company, Elgin Brown & Hamer (EBH) Namibia, has been closely tracking the sliding oil price since it dropped to below US$ 80 per barrel in late 2014. In anticipation of the 'lag effect' of the sustained low oil price on the downstream oil and gas industry, and a very evident reduction in vessel dry docking requests, EBH Namibia took a proactive stance in March 2015 by adopting a series of stringent performance improvement plans (PIPs).
Africa | Thursday, April 21, 2016

Lithium War Heats Up After Epic Launch Of Tesla Model 3

The unveiling of Tesla's Model 3 electric car was no less than the lifting of the final curtain on a game-changing energy revolution. And if we follow that revolution to its core, we arrive at lithium—our new gasoline for which the feeding frenzy has only just begun.
North America | Wednesday, April 20, 2016

Avanti Energy subsidiary submits Colle Santos development permit application

Avanti Energy Inc. (TSXV: AVN) is pleased to announce that its Italian subsidiary CMI Energia S.
East Europe | Wednesday, April 20, 2016

Sanchez Energy announces first quarter 2016 operating results

Sanchez Energy Corporation (NYSE: SN), today announced operating results for the first quarter 2016. Highlights include: Process improvements and efficiency gains continue to drive savings in Sanchez Energy's average well costs, with some wells coming in at approximately $3.
North America | Wednesday, April 20, 2016

Wright Drilling & Exploration announces successful drilling of first oil well project

Wright Drilling & Exploration, Inc. announced today the successful drilling and testing of its first oil well project, the Loma Linda No.
North America | Wednesday, April 20, 2016

Callon Petroleum announces Midland Basin acquisitions and establishment of new core area

Callon Petroleum Company (NYSE: CPE) today announced it has entered into definitive agreements with three private entities to acquire certain assets operated by Big Star Oil and Gas, LLC for total consideration of $220 million in cash and approximately 9.3 million shares of Callon common stock, subject to customary purchase price adjustments.
North America | Wednesday, April 20, 2016

Moratorium on oil and gas activities in Georges Bank comes into effect

The sustainability and health of one of North America's most valuable marine ecosystems will be better protected thanks to ongoing collaboration between the governments of Canada and Nova Scotia. The Honourable Jim Carr, Canada's Minister of Natural Resources, and his provincial counterpart, the Honourable Michel Samson, Minister of Energy for Nova Scotia, have enacted a statutory moratorium on oil and gas activities in the Canadian portion of Georges Bank.
North America | Wednesday, April 20, 2016

Devon Energy announces sale of non-core Mississippian assets

Devon Energy Corp. (NYSE:DVN) announced today it has entered into a definitive agreement to sell its non-core Mississippian assets in northern Oklahoma to White Star Petroleum, LLC for $200 million.
North America | Wednesday, April 20, 2016

Greka Drilling announces mobilisation of rigs in India

Greka Drilling Limited (AIM: GDL), the largest independent and specialised unconventional oil & gas driller in Asia, is pleased to provide an update on the contract to provide drilling services to Essar Oil Limited ('Essar') in India. The award of this contract was announced by the Company on 15 February 2016.
Asia Far East | Wednesday, April 20, 2016