SAN RAMON, California -- Chevron Corp. slashed its drilling budget by the most in 12 years and said it may delay some shale projects as energy producers around the world hoard cash and curtail ambitions in response to free-falling oil prices.
Gazpromneft Khantos has completed testing of an initial two wells, drilled to allow analysis of deposits in the Bazhenov formation, in the south of Priobskoye oil field.
VIENNA, Austria -- OPEC oil production rose in January as record Iraqi output helped drive prices near six-year lows.
Maersk Drilling has taken delivery of its third ultra-harsh environment jackup, XLE-3, from the Keppel FELS shipyard in Singapore ahead of schedule.
ConocoPhillips, the third-largest U.S. energy producer, reported a fourth-quarter loss as new output failed to make up for the worst oil-price crash since 2009.
Oil prices will recover as early as the first half of this year as producers cut back, Continental Resources Inc. founder and CEO Harold Hamm said Wednesday.
Injection pressures of proppant-laden slurry and proppant-free spacer, using a pulsing approach, were found to be significantly lower than those applied with conventional hydraulic fracturing treatments.
Often a regulatory requirement, contingency plans for an accidental subsea release or blowout require advanced engineering analysis to understand the potential magnitude and consequences, and the use of a containment system.
As the offshore drilling industry continues to move into more challenging environments, well control is becoming increasingly critical.
The year 2014 has been a period of not only great profitability for the global upstream industry but also a time of considerable volatility.
Numbers help to explain Saudi mindset on global production
Don’t turn off the lights; the party ain’t over!
U.S. Natural Gas (Henry Hub): $2.692West Texas Intermediate: $46.56Brent Blend: $51.29
U.S.: 9.057 MMbpd (November 2014)
World: 91.76 MMbpd (November 2014)
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Over the last two years, we’ve seen a marked increase in the number of gas divestments taking place in Canada’s oil and gas sector.
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