Archives October 2016

Oct
31
2016

Aramco, Nabors sign joint-venture agreement

Nabors Industries Ltd. reported the signing of an agreement to form a joint venture in Saudi Arabia to own, manage, and operate onshore drilling rigs. The JV, which will be equally owned by Saudi Aramco and Nabors, is expected to be formed and commence operations in second-quarter 2017. …read more Source: Oil Gas Journal   

Oct
28
2016

BPTT starts drilling in Amherstia gas field off Trinidad and Tobago

BP Trinidad & Tobago LLC (BPTT) has announced that it has begun drilling in its Amherstia natural gas field in the Columbus basin off the Caribbean twin-island nation’s southeast coast. …read more Source: Oil Gas Journal   

Oct
28
2016

BHI: Overall US rig count up 4 units despite drop in oil rigs

The tally of US oil-directed rigs ended 17 straight weeks without a decline during the week ended Oct. 28. But the overall rig count was again bolstered by a recent surge in rigs targeting natural gas, with increases in the Haynesville and Marcellus regions. …read more Source: Oil Gas Journal   

Oct
28
2016

WoodMac sees US independents seeking cash-flow neutrality

Independent operators are likely to remain cautious while setting 2017 budgets, said WoodMackenzie Ltd. analysts, adding that higher oil prices are needed before independents are willing to commit to investments that would meaningfully boost production growth. …read more Source: Oil Gas Journal   

Oct
28
2016

Rystad: Half of offshore cost reductions come from downsizing, simplifications

Offshore developments have experienced lower breakeven prices over the last 2 years with more than half of the cost reductions achieved through downsizing, simplification, and design, said Rystad Energy. …read more Source: Oil Gas Journal   

Oct
26
2016

IEA: US tight-oil output may rise quickly with prices

US crude oil production from tight shale formations could climb quickly as prices recover, but the emphasis likely will be more on short-term onshore projects that are easy to start than on longer-run offshore areas with greater potential, the International Energy Agency’s chief economist said. …read more Source: Oil Gas Journal   

Oct
26
2016

Lukoil starts oil production from Pyakyakhinskoye field in Russia

PJSC Lukoil has started commercial crude oil production from Pyakyakhinskoye field in Russia’s Yamal-Nenets autonomous district. …read more Source: Oil Gas Journal   

Oct
25
2016

Aker BP’s Ivar Aasen field gets nod for December startup

The Norwegian Petroleum Directorate (NPD) authorized the production startup on Ivar Aasen field in the North Sea. Aker BP AS, the operator, has scheduled the field in 360 ft of water to come on stream during December. …read more Source: Oil Gas Journal   

Oct
25
2016

BP Oman expects Khazzan gas production to start in late 2017

BP Oman said Phase 1 of its massive Khazzan natural gas project in the desert 350 km south of Muscat is 80% complete and on track to start gas deliveries in late 2017. The tight gas project began in 2014 and is expected to eventually contribute about 33% of Oman’s gas supply. …read more Source: […]

Oct
25
2016

Carrizo to add 15,000 net acres in Eagle Ford

Carrizo Oil & Gas Inc. has agreed to acquire 15,000 net acres in the Eagle Ford shale of South Texas from an affiliate of fellow Houston firm Sanchez Energy Corp. for $181 million in cash. …read more Source: Oil Gas Journal   

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