Archives May 2015

May
7
2015

Apache reports 1Q net loss of $4.7 billion

Apache Corp. reported a first-quarter net loss of $4.7 billion, including an aftertax ceiling-test write down of $4.7 billion due to “substantially lower commodity prices.” …read more Source: Oil Gas Journal   

May
7
2015

OTC: BSEE reports 100% SEMS compliance after first cycle

Representatives from the US Bureau of Safety and Environmental Enforcement (BSEE) assessed the progress of the agency’s Safety and Environmental Management System (SEMS) initiative at an Offshore Technology Conference breakfast in Houston on May 7. …read more Source: Oil Gas Journal   

May
6
2015

OTC: Many variables dictate N. America’s emergence as a global energy force

North American businesses and governments must work together toward the collective goal of advancing the continent’s energy aspirations. That was the message delivered by producers and government officials during a May 5 panel discussion at the Offshore Technology Conference in Houston. …read more Source: Oil Gas Journal   

May
6
2015

Crude export ban could endanger US oil renaissance, Encana CEO warns

The plunge in crude oil prices since last summer is creating adverse impacts sooner than expected, and could endanger the economic renaissance the US has undergone from its dramatically increased production if crude exports are not authorized soon, Encana Corp. Chief Executive Officer Douglas J. Suttles warned. …read more Source: Oil Gas Journal   

May
6
2015

DNO doubles Tawke capacity, reports lower 1Q revenue

DNO ASA reported it has doubled to 200,000 bo/d the production capacity from Tawke field in the Kurdistan region of Iraq. …read more Source: Oil Gas Journal   

May
6
2015

OTC: New IADC well-control training program targets individual jobs

An industry-wide collaboration enabled the International Association of Drilling Contractors to develop a new well-control training and assessment program that is targeted toward an individual’s actual job, IADA executives told an Offshore Technology Conference news briefing May 6 in Houston. …read more Source: Oil Gas Journal   

May
6
2015

Husky Energy reports net earnings of $191 million (Can.)

Husky Energy Inc. reported first-quarter net earnings of $191 million (Can.) compared with a loss of $603 million in the previous quarter and year-ago earnings of $662 million. …read more Source: Oil Gas Journal   

May
6
2015

OTC: BSEE director says industry on probation as far as public trust

Industry must cooperate and collaborate with a number of international stakeholders to achieve the highest safety standards offshore, Brian Salerno, director of the Bureau of Safety and Environmental Enforcement, told an Offshore Technology Conference breakfast May 6 in Houston. …read more Source: Oil Gas Journal   

May
6
2015

OTC: Shell determined to proceed with drilling in US Arctic

Despite numerous regulatory hurdles and impassioned resistance from environmentalists, Royal Dutch Shell PLC maintains that it is on track to drill two wells in the Chukchi Sea during drilling season this summer. …read more Source: Oil Gas Journal   

May
5
2015

OTC: IHS’s Fryklund: Deepwater will be vital to maintaining global supply

A major challenge ahead for the offshore oil and gas industry will be figuring out how to fill the 50 million-b/d gap in liquids production that will be needed to match rising demand by 2040, IHS Energy Chief Upstream Strategist Bob Fryklund told attendees May 4 at the Offshore Technology Conference in Houston. …read more […]

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