Archives May 2016

May
6
2016

Newfield to acquire STACK acreage from Chesapeake unit

Newfield Exploration Co., The Woodlands, Tex., has agreed to acquire 42,000 net acres in the Anadarko basin STACK play from a subsidiary of Chesapeake Energy Corp., Oklahoma City, for $470 million. The deal is effective Apr. 1, and is expected to close during the second quarter. …read more Source: Oil Gas Journal   

May
6
2016

Shah Deniz partners let $1.5-billion subsea installation contract

BP PLC, on behalf of the Shah Deniz consortium, has let a $1.5-billion contract for the transport and installation of the deeper water subsea production systems for Shah Deniz Stage 2 offshore Azerbaijan to the BOS Shelf LLC, Saipem Contracting Netherlands BV, and Star Gulf FZCO consortium. …read more Source: Oil Gas Journal   

May
5
2016

OTC: Panel seeks to energize deepwater projects

“Nothing draws people together like a common enemy,” said Maersk Oil Houston’s President Bruce Laws, “and the common enemy right now is low commodity prices.” Laws, who addressed an audience at the Offshore Technology Conference in Houston on May 4, was part of a panel discussing worldwide oil and gas deepwater development. …read more Source: […]

May
5
2016

Environmental groups sue to make EPA regulate production wastes

A group of environmental organizations sued the US Environmental Protection Agency, calling for it to regulate surface handling and underground disposal of oil field production wastes. An Independent Petroleum Association of America official quickly dismissed the May 4 action in US District Court for the District of Columbia as a maneuver to stop or delay […]

May
5
2016

Synergy Resources to buy Noble acreage in DJ basin for $505 million

Synergy Resources Corp., Denver, has agreed to acquire 33,100 net acres in the Greeley Crescent area of Weld County, Colo., from Noble Energy Inc., Houston, for $505 million. The deal is effective Apr. 1 and expected to close as early as June. …read more Source: Oil Gas Journal   

May
5
2016

Fort McMurray fire evacuation biggest in Alberta history

About 88,000 residents of Fort McMurray in northern Alberta have been evacuated from a wildfire that has destroyed or damaged 1,600 structures. Alberta Premier Rachel Notley called the event the biggest evacuation in the history of the province. …read more Source: Oil Gas Journal   

May
5
2016

OTC: Panelists say deepwater can help fill oil output void

“Something has to give” in this languishing oil market, and one industry observer and his firm “are quite convinced that oil prices have to give quite a lot.” …read more Source: Oil Gas Journal   

May
4
2016

Alberta wildfire forces evacuation, oil sands production cuts

A wildfire raging in the Regional Municipality of Wood Buffalo nearby Fort McMurray, Alta., has forced the mandatory evacuation of tens of thousands of people from the area and has caused many oil sands operators to cut production. …read more Source: Oil Gas Journal   

May
4
2016

OTC: Service companies respond to Mexico’s energy reforms

Mexico’s energy reforms will mean changes for international service companies as well as for oil and natural gas operators and investors, a May 3 panel of service company speakers told the Offshore Technology Conference in Houston. …read more Source: Oil Gas Journal   

May
4
2016

DNO boosts Kurdistan drilling, production

DNO ASA, a Norwegian oil and gas operator controlled by RAK Petroleum PLC, reported it is using increased revenues for a drilling program at Tawke oil field in the Kurdistan region of Iraq, and executives said the company is on track toward increased profitability for 2016. …read more Source: Oil Gas Journal   

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