Archives November 2016

Nov
30
2016

OPEC agrees to adjust production levels next year

Members of the Organization of Petroleum Exporting Countries agreed to curt their production levels by slightly more than 1 million b/d effective Jan. 1, 2017, to 32.5 million b/d from the cartel’s October production of 33.6 million b/d. …read more Source: Oil Gas Journal   

Nov
30
2016

Shell lets contract for Vito platform in Gulf of Mexico

Shell Offshore Inc. has let a front-end engineering and design contract for the Vito platform in the Gulf of Mexico to Jacobs Engineering Group Inc. of Dallas. …read more Source: Oil Gas Journal   

Nov
30
2016

Baker Hughes, private equity to form land pressure pumping firm

Oil field services firm Baker Hughes Inc. (BHI), Houston private equity firm CSL Capital Management LLC, and West Street Energy Partners LP (WSEP), a fund managed by the merchant banking division of Goldman Sachs, have agreed to form a pure-play North American land pressure pumping company. …read more Source: Oil Gas Journal   

Nov
30
2016

Spartan to buy ARC's Saskatchewan assets for $700 million

Spartan Energy Corp. has agreed to acquire all of the southeast Saskatchewan assets belonging to fellow Calgary firm ARC Resources Ltd. for $700 million in cash. …read more Source: Oil Gas Journal   

Nov
30
2016

DOI cuts most Alaska tracts in latest 2017-22 OCS leasing-plan move

The US Department of the Interior released a proposed final program (PFP) for the 2017-22 US Outer Continental Shelf oil and gas leasing that removed all tracts offshore Alaska. National oil and gas associations, other business organizations, and members of Alaska’s government immediately criticized the Nov. 18 action. …read more Source: Oil Gas Journal   

Nov
30
2016

API-commissioned study backs EPA's fracing, drinking water findings

The US Environmental Protection Agency’s original conclusions that no studies or data have indicated a widespread, systematic effect on drinking water resources as result of hydraulic fracturing are correct, a study commissioned the American Petroleum Institute found. …read more Source: Oil Gas Journal   

Nov
30
2016

Centennial to add Delaware basin assets in $855-million deal

Centennial Resource Development Inc., Denver, has agreed to acquire 100% of the leasehold interests and related upstream assets in Reeves County, Tex., owned by Silverback Exploration LLC, San Antonio, for $855 million. …read more Source: Oil Gas Journal   

Nov
30
2016

Po Valley awarded production license for Teodorico field

Po Valley Energy Ltd., Perth—with interests in northern Italy—has been awarded a preliminary production concession for its Teodorico gas field in the northern Adriatic Sea. …read more Source: Oil Gas Journal   

Nov
30
2016

Platform damage halts Maari oil production offshore New Zealand

Production from the Maari oil production platform offshore Taranaki basin in New Zealand has been halted after a 1.4-m crack was found in one of the 12 horizontal struts. …read more Source: Oil Gas Journal   

Nov
30
2016

Lukoil to boost Yaregskoye field oil flow

Lukoil Oil Co. expects to increase oil production at old Yaregskoye field in the Republic of Komi, Russia, to 700,000 b/d from last year’s average of 140,000 b/d with expanded thermal development. …read more Source: Oil Gas Journal   

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