Archives May 2016

May
11
2016

Contracts terminated for two Gulf of Mexico drillships

Freeport-McMoRan Oil & Gas LLC (FMOG) and its parent company Freeport-McMoRan Inc. have agreed with drilling contractor Noble Corp. PLC to cancel contracts for the Noble Sam Croft and Noble Tom Madden drillships. …read more Source: Oil Gas Journal   

May
10
2016

Chaparral Energy files For Chapter 11 protection

Midcontinent independent Chaparral Energy LLC, Oklahoma City, reported it has voluntarily filed petitions for relief under Chapter 11 of the US Bankruptcy Code in the US Bankruptcy Court of Delaware. …read more Source: Oil Gas Journal   

May
10
2016

EIA revises inventory build forecasts downward

In its Short-Term Energy Outlook for May, the US Energy Information Administration estimates that global petroleum and other liquid fuels inventory builds will average 1 million b/d in 2016 and 200,000 b/d in 2017 compared with the average of 1.4 million b/d in 2016 and 400,000 b/d in 2017 forecast in last month’s STEO. …read […]

May
10
2016

MARKET WATCH: Oil prices fall on reports of slowing in spread of Canadian wildfires

Light, sweet crude prices settled below $44/bbl on the New York market on May 9, down more than $1/bbl on reports that the spread of Canada’s wildfires has slowed and the blaze has moved away from key oil sand production areas, at least for now. …read more Source: Oil Gas Journal   

May
9
2016

Production resumes from Jubilee field offshore Ghana

Oil production from the Tullow Oil PLC-operated Jubilee field offshore Ghana resumed on May 3 and is ramping up. …read more Source: Oil Gas Journal   

May
9
2016

Watching Government: The methane muddle

It looks like a relatively simple problem at first. A substance leaking into the atmosphere is a fuel that operators can sell, seeming to give them every incentive to try and capture it. But methane management has become so political in the US over the last year that it has become a muddle. …read more […]

May
9
2016

House hearing on BLM's proposed methane rule shows key disagreements

Opponents and supporters of the US Bureau of Land Management’s proposed venting and flaring rule for oil and gas producers quickly defined their main differences at an Apr. 27 House Natural Resources subcommittee hearing. …read more Source: Oil Gas Journal   

May
9
2016

OTC: Higher productivity 'best insurance' for meeting future energy demand, BP exec says

BP PLC has had to make some “very tough choices” and let some “very good people” go in Houston and elsewhere amid an environment that has changed “quite dramatically for all of us” over the last few years, a company executive told attendees May 2 at an opening session of the Offshore Technology Conference in […]

May
6
2016

US rig count falls for 20th-consecutive week as E&Ps continue to trim activity

The US drilling rig count dropped 5 units to 415 rigs working during the week ended May 6, representing the 20th-striaght week of declines, according to Baker Hughes Inc. data. …read more Source: Oil Gas Journal   

May
6
2016

Imperial reduces production at Kearl in Alberta

In response to the ongoing fire crisis in Alberta, Imperial Oil Ltd. has reduced production at its Kearl oil sands plant northeast of Fort McMurray. The physical plant is unaffected by the fires. …read more Source: Oil Gas Journal   

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