Archives July 2016

Jul
29
2016

US oil, overall rig counts creep upward; firms plot second-half activity

Thanks to another rise in oil-directed units, the US drilling rig count barely held on to its recent upward momentum during the week ended July 29. The modest increase comes during a week in which many US exploration and production firms outlined second-half drilling plans in second-quarter earnings reports. …read more Source: Oil Gas Journal […]

Jul
29
2016

Repsol reports production increases due to acquisition, ramp-ups

Spain’s Repsol SA reported adjusted net income in the second quarter of €345 million compared with €312 million in the same quarter in 2015. Allowing for inventory and nonrecurring income, net income was €205 million vs. €292 million. …read more Source: Oil Gas Journal   

Jul
29
2016

Serica Energy resumes oil, gas production from Erskine field

Serica Energy PLC of London said Erskine field oil and gas production resumed July 27 following clearance of a blockage on a condensate pipeline and also on completion of scheduled maintenance works on the Lomond platform. …read more Source: Oil Gas Journal   

Jul
28
2016

ConocoPhillips posts $1.1-billion net loss in second quarter

Houston independent ConocoPhillips Co. reported a second-quarter net loss of $1.1 billion, down from a second-quarter 2015 net loss of $179 million. …read more Source: Oil Gas Journal   

Jul
28
2016

BLM moves closer to 100% online filing for drilling permits

The US Bureau of Land Management is completing conversion of its oil and gas drilling permit application system to a fully online process and expects to complete the change by yearend, the US Department of the Interior agency reported. …read more Source: Oil Gas Journal   

Jul
28
2016

Suncor reports second-quarter net loss of $735 million (Can.)

Citing slumping crude-oil prices and the Alberta wildfires, Suncor Energy Inc., Calgary, reported a second-quarter net loss of $735 million (Can.) and an operating loss of $565 million. …read more Source: Oil Gas Journal   

Jul
28
2016

More contracts let for Woodside-led Greater Enfield oil development

The Woodside Energy Ltd.-operated Greater Enfield oil project is gathering pace as more contracts and equipment orders were placed this week. …read more Source: Oil Gas Journal   

Jul
28
2016

Whiting signs another Williston basin agreement, boosts budget

Whiting Petroleum Corp. of Denver resumed completion operations in the Williston basin in late June as part of its previously announced 44-well participation agreement. Whiting had announced in February it would suspend completions in North Dakota during the second quarter. …read more Source: Oil Gas Journal   

Jul
28
2016

IOG hikes Texas, Oklahoma play funding

IOG Capital LP said that since May 1 it has committed to fund more than $260 million in the acquisition and development of oil and gas properties in partnership with operators in the Permian basin, STACK, Austin Chalk, and Eagle Ford plays of Texas and Oklahoma. …read more Source: Oil Gas Journal   

Jul
27
2016

GAO report criticizes DOI’s efforts for methane emissions control

US Department of the Interior reporting guidance to oil and gas operators may hinder the US Bureau of Land Management’s ability to account for methane emissions on onshore federal leases, the Government Accountability Office warned. …read more Source: Oil Gas Journal   

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