Archives October 2014

Oct
31
2014

BHI: US rig count makes gains in Kansas, modest rise overall

The US drilling rig count edged up 2 units to reach 1,929 rigs working during the week ended Oct. 31, Baker Hughes Inc. reported. …read more Source: Oil Gas Journal   

Oct
30
2014

AEP unit to acquire Wolfcamp acreage for $726 million

American Energy–Permian Basin LLC (AEPB), an affiliate of Oklahoma City-based American Energy Partners LP (AEP), has completed or entered into definitive agreements with multiple parties to acquire acreage in the Wolfcamp shale of the central Midland basin, primarily in Reagan County, Tex., for $726 million. …read more Source: Oil Gas Journal   

Oct
30
2014

Report for API quantifies new technologies’ 2013 US economic benefits

Innovations in hydraulic fracturing and horizontal drilling that have driven the energy renaissance in the US were responsible for about 48% of the nation’s crude oil production and shaved as much as 94¢/gal off of fuel prices in 2013, according to a recent report commissioned by the American Petroleum Institute. …read more Source: Oil Gas […]

Oct
30
2014

Induced seismicity research effort identifies information gaps

A federally coordinated effort to determine whether oil and gas activities are related to growing reports of induced seismic activity has identified several information gaps that need to be closed, speakers said during an Oct. 30 briefing at the US Energy Association. …read more Source: Oil Gas Journal   

Oct
30
2014

Hibiscus, 3D Oil close on sale of license offshore Victoria

3D Oil Ltd., Melbourne, has completed the sale of its interests in Victorian offshore production licence Vic/L31 to Malaysian’s Hibiscus Petroleum Bhd. …read more Source: Oil Gas Journal   

Oct
29
2014

Empire Oil & Gas transits from explorer to producer

Empire Oil & Gas Ltd., Perth, has been granted production leases over two previously designated exploration areas incorporating the Red Gully and Gin Gin gas fields and the Red Gully gas processing facility in the North Perth basin onshore Western Australia. …read more Source: Oil Gas Journal   

Oct
29
2014

MARKET WATCH: NYMEX oil prices gain modestly pending inventory report

Crude oil prices for December delivery rose modestly on the New York market Oct. 27 pending the weekly government petroleum inventory report, which showed another gain in US oil supplies, and industry spokesmen discussed how low oil prices might slow tight-oil production. …read more Source: Oil Gas Journal   

Oct
29
2014

Hess to develop deepwater gulf oil field

Production is to begin in 2018 from deepwater Stampede oil field in the Gulf of Mexico under a development plan approved by operator Hess Corp. and partners. …read more Source: Oil Gas Journal   

Oct
28
2014

Contract let for deepwater development offshore Nova Scotia

The government of Nova Scotia has let a contract to Petrofac for a development study on a prospective offshore oil reservoir lying 3,000 m beneath the seabed in 2,000 m of water. The project will be led by Petrofac’s subsea engineering business K W Subsea. …read more Source: Oil Gas Journal   

Oct
28
2014

Tengizchevroil lets contract for Kazakh production facility expansion

Tengizchevroil (TCO), a joint venture of Chevron Corp., ExxonMobil Corp., KazMunayGas, and LukArco, has let an engineering, procurement, and construction contract to Bechtel to build four crude-oil storage tanks at the TengizChevroil oil production facility in Tengiz, Kazakhstan. Bechtel also will modernize the fire and gas detection systems across the entire crude tank farm. …read […]

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