Archives July 2016

Jul
11
2016

Tullow's TEN project nears completion offshore Ghana

The Tullow Oil PLC-operated Tweneboa-Enyenra-Ntomme (TEN) project offshore West Africa is now 96% complete and expected to begin oil production within 3-6 weeks. …read more Source: Oil Gas Journal   

Jul
8
2016

Seven Generations to expand Montney acreage

The planned acquisition of “bolt-on” acreage in the Lower Triassic Montney resource play of British Columbia from Paramount Resources Ltd. will enable Seven Generations Energy Ltd. to increase well lengths in an expanded drilling program, the buyer said. …read more Source: Oil Gas Journal   

Jul
8
2016

BHI: US oil rig count records another double-digit increase

Again boosted by oil-directed units, the tally of active US drilling rigs gained 9 units to 440 during the week ended July 8, marking the fifth time in 6 weeks the overall count has risen, according to Baker Hughes Inc. data. …read more Source: Oil Gas Journal   

Jul
7
2016

US Interior finalizes Arctic exploratory drilling regulations

The US Department of the Interior on July 7 announced final regulations for exploratory drilling activities on the US Arctic Outer Continental Shelf that require firms to have plans in place should a safety or environmental issue arise during operations. …read more Source: Oil Gas Journal   

Jul
6
2016

Vaalco outlines temporary well shut-in status offshore Gabon

Houston independent Vaalco Energy Inc. maintains its 2016 production guidance of 3,700-4,500 boe/d, noting that a malfunction with pumps on one well offshore Gabon is being resolved. Meanwhile, Vaalco renegotiated terms with Transocean Ltd. after releasing the Constellation II rig offshore Gabon. …read more Source: Oil Gas Journal   

Jul
5
2016

Chevron, partners finalize $37-billion investment for Tengiz oil field

Chevron Corp. affiliate Tengizchevroil (TCO) will proceed with development of its Future Growth and Wellhead Pressure Management Project (FGP-WPMP) to increase crude oil production at Kazakhstan’s Tengiz oil field by 260,000 b/d. …read more Source: Oil Gas Journal   

Jul
5
2016

US courts reassert limits on power of Executive Branch

Executive power in the US encountered limits-of all things-during the third full week of June. …read more Source: Oil Gas Journal   

Jul
5
2016

Model isolates speculative demand in price analysis

Oil demand is often viewed as being determined by the state of the global economy. Given that crude oil is storable, the real price of oil also depends on the demand for storage. …read more Source: Oil Gas Journal   

Jul
5
2016

Voters back more oil, gas development, API-commissioned poll finds

A majority of registered US voters support more US oil and gas development and are more likely to back a candidate who shares that view, a survey commissioned by the American Petroleum Institute found. …read more Source: Oil Gas Journal   

Jul
5
2016

Sustained low oil price subdues deepwater spend 2016-20

Low oil prices will continue to impact deepwater capital expenditure (capex) over the next 5 years. Industry headlines have been dominated for the past 12 months by implications of the sustained downturn and operators have responded by announcing widespread redundancies, reducing budgets, and deferring new projects. …read more Source: Oil Gas Journal   

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