Archives February 2015

Feb
25
2015

Encana trims additional $700 million from 2015 capital budget

Encana Corp. is reducing its previously reported capital investment for 2015 by $700 million to $2-2.2 billion “to maintain a solid balance sheet and help strengthen liquidity through a low price environment.” …read more Source: Oil Gas Journal   

Feb
24
2015

UKCS report cites need for deep cost cuts

The struggling producing industry on the UK Continental Shelf needs deep cost cuts, according to the Oil & Gas UK’s Activity Survey 2015. …read more Source: Oil Gas Journal   

Feb
24
2015

Statoil lets EPC contract for Johan Sverdrup platform deck

Statoil ASA has let an 8-billion-kroner contract to Aibel AS for engineering work, procurement, and construction of the deck for the Johan Sverdrup drilling platform. …read more Source: Oil Gas Journal   

Feb
24
2015

Total lets subsea contract for Glenlivit field offshore UK

Total SA has let a contact to Technip SA for the subsea development of Glenlivit field, 75 km northwest of the Shetlands in 435 m of water. Technip says the contract is in addition to parallel work its doing for Total’s nearby Edradour subsea development. …read more Source: Oil Gas Journal   

Feb
23
2015

Statoil starts production from Oseberg Delta 2 in North Sea

Statoil ASA reported the start of production from Oseberg Delta 2 in the North Sea. The field is tied back 14 km to Oseberg field’s center by two subsea templates with total capacity for eight wells. The initial phase involves three oil producers and two gas injectors. Gas injection will provide “a substantially greater recovery […]

Feb
23
2015

Highlander well in South Louisiana flows 75 MMcfd

Production testing by Freeport-McMoRan Oil & Gas, a subsidiary of Freeport-McMoRan Inc., on the Highlander discovery onshore South Louisiana indicated a flow rate of 75 MMcfd—37 MMcfd net to the company—on a 42/64th choke with 10,300 psi flowing tubing pressure. …read more Source: Oil Gas Journal   

Feb
23
2015

AER sets new seismic monitoring rules for Duvernay in the Fox Creek area

The Alberta Energy Regulator (AER) announced seismic monitoring and reporting requirements for companies using hydraulic fracturing in the Duvernay zone of the Fox Creek area following some seismic events there in December 2014 and in January. …read more Source: Oil Gas Journal   

Feb
23
2015

API: US oil product demand reached highest January level since 2008

US oil product demand rose 1.5% year-to-year to an average 19.2 million b/d in January, its highest level for the month since 2008, the American Petroleum Institute reported. Gasoline demand growth was strongest, reaching a 6-year January peak of 8.7 million b/d, 6.3% more than in January 2014, API said in its latest Monthly Statistical […]

Feb
23
2015

A vulnerable supply

As the oil and gas industry sheds projects and workers amid the cruel pressures of an oversupplied market, more than 3 million b/d of production falls increasingly subject to threat from political disruption. …read more Source: Oil Gas Journal   

Feb
23
2015

BLM decision clears way for first NPRA federal oil production

The US Bureau of Land Management issued a record of decision (ROD) for the proposed Greater Mooses Tooth One project (GMT1), which cleared the way for the first crude oil production from federal land within the 23 million-acre National Petroleum Reserve-Alaska. …read more Source: Oil Gas Journal   

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