WorldOil Crude oil surges the most in seven years as volatility soars Crude oil surged the most in seven years, rebounding from the lowest in more than a decade as equities rallied. Volatility jumped. U.S. drillers pull 28 oil rigs as rout deepens HOUSTON – U.S. drillers pulled 28 oil-directed rigs from the field this week, according to the latest data from Baker Hughes. Paragon Offshore reaches creditor deal for bankruptcy filing Debt-laden Paragon Offshore Plc has reached an agreement with creditors to restructure its $2.7 billion of debt in bankruptcy court, according to a statement released Friday. Shale Support appoints new vice president of logistics Shale Support, LLC, a provider of frac-sand and logistical solutions to the oil and gas proppant market, has appointed Shane Summers as vice president of logistics. Oil rebounds from lowest close in 12 years to pare weekly loss Oil rebounded from the lowest level in more than 12 years, paring its biggest weekly loss in a month as the rout in equities eased and OPEC reiterated its willingness to engage with other producers. Premier, Noble terminate Ocean Rig contract on 'operational issues' Premier Oil and Noble Energy have terminated their contract for one of Ocean Rig’s semisubmersibles. Polarcus awarded broadband 4D project offshore Norway Polarcus has received a Letter of Intent for a 4D project over a field offshore Norway, the company said Friday. Woodside in second gas discovery offshore Myanmar Woodside’s Thalin-1A exploration well in Block AD-7, in the Rakhine basin, has intersected a gross gas column of approximately 64 m. The oil industry got together and agreed things may never get better The thousands of attendees seeking reasons for optimism didn’t find them at the annual International Petroleum Week. ONGC reports 15-year low in quarterly profit as oil slump takes a toll Oil and Natural Gas Corp. reported the lowest quarterly profit in more than 15 years following the slump in crude prices. Canadian oil producers exposed to rout as hedges expire A defense Canadian oil producers had against the plunging price of crude is crumbling as hedges expire amid projections that crude will continue to decline.