Archives August 2014

Aug
29
2014

BHI: US rig count recoups last week’s losses, jumps to 1,914

The US drilling rig count jumped 18 units to reach 1,914 rigs working, gaining back the 17 units it lost last week plus one, during the week ended Aug. 29, Baker Hughes Inc. reported. …read more Source: Oil Gas Journal   

Aug
29
2014

BLM announces California oil, gas strategy as CCST issues report

The US Bureau of Land Management’s California state office announced a comprehensive strategy for its oil and gas program in the state after receiving an independent review of well stimulation technologies it asked the California Council on Science and Technology (CCST) to conduct in September 2013. …read more Source: Oil Gas Journal   

Aug
29
2014

VAALCO updates operations offshore Gabon

VAALCO Energy Inc. provided an update on its operations offshore Gabon. …read more Source: Oil Gas Journal   

Aug
29
2014

India’s ONGC to invest in Daman development in Arabian Sea

India’s Oil & Natural Gas Corp. will invest $864.5 million to enhance natural gas and condensate production from its Tapti Daman block in the Arabian Sea. …read more Source: Oil Gas Journal   

Aug
29
2014

Nexen boosts CNOOC’s first-half production

Nexen Energy ULC contributed 36.3 million boe during this year’s first half to CNOOC Ltd.’s total net oil and gas production of 211.6 million boe, a 6.8% year-over-year increase, the company reported. In comparison, Nexen produced 24.8 million boe in its first few months under CNOOC control during last year’s first half. …read more Source: […]

Aug
28
2014

Petronas, YPF sign $550 million development deal for Vaca Muerta

Malaysia’s state-run Petronas signed a $550 million agreement with YPF SA, Buenos Aires, on Aug. 28 in Kuala Lumpur detailing terms and conditions for the development of oil from the giant Vaca Muerta shale in Argentina’s Neuquen province. …read more Source: Oil Gas Journal   

Aug
28
2014

Fitch: Drilling downturn might prompt some consolidation

A cyclical downturn in offshore drilling might provide an opportunity for driller contractors having financial flexibility to buy their peers at favorable prices, Fitch Ratings of Chicago said in a recent research note, adding that master limited partnerships (MLPs) in particular can provide financial flexibility. …read more Source: Oil Gas Journal   

Aug
27
2014

CNRL files OSCA application with AER for Grouse oil sands project

Canadian Natural Resources Ltd. has submitted an Oil Sands Conservation Act application with Alberta Energy Regulator for its Grouse steam-assisted gravity drainage (SAGD) project. …read more Source: Oil Gas Journal   

Aug
26
2014

Petrobras eyes Lapa field pipeline-heating

Petroleo Brasileiro SA (Petrobras) will evaluate pipeline-heating systems for use in development of deepwater Lapa oil field in the Santos basin offshore Brazil. …read more Source: Oil Gas Journal   

Aug
26
2014

Statoil: Aasta Hansteen gas development on schedule for 2017

The Aasta Hansteen gas development in the northern Norwegian Sea is on schedule for production start-up in third quarter 2017, reported operator Statoil ASA. …read more Source: Oil Gas Journal   

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