http://www.worldoil.com WorldOil Vanguard Natural Resources to acquire Eagle Rock Energy Partners for approximately $614 million http://www.worldoil.com/news/2015/5/22/vanguard-natural-resources-to-acquire-eagle-rock-energy-partners-for-approximately-614-million Vanguard Natural Resources and Eagle Rock Energy Partners have entered into an agreement and plan of merger pursuant to which a subsidiary of Vanguard will merge into Eagle Rock for total consideration of $474 million in Vanguard common units and the assumption of Eagle Rock's net debt of $140 million as of Mar. 31. Core Bakken assets remain economical despite low oil prices, says GlobalData analyst http://www.worldoil.com/news/2015/5/22/core-bakken-assets-remain-economical-despite-low-oil-prices-says-globaldata-analyst While the 12 counties with Bakken production between North Dakota and Montana have lost the majority of their horizontal rigs over the last eight months, core areas of the shale play remain attractive, especially as oil prices creep towards $70/bbl, says an analyst with research and consulting firm GlobalData. Jee bags FEED contract for enhanced oil recovery project from Amec Foster Wheeler http://www.worldoil.com/news/2015/5/22/jee-bags-feed-contract-for-enhanced-oil-recovery-project-from-amec-foster-wheeler Jee Ltd. has been awarded a contract from Amec Foster Wheeler for the front end engineering design (FEED) of a jacket rigid polymer injection riser package (including J-tubes) as part of an enhanced oil recovery (EOR) field development. Canadian crude oil supply chain adapts to U.S. glut; Edmonton storage inventories plummet while waterborne shipments ease constraints, Genscape reports http://www.worldoil.com/news/2015/5/22/canadian-crude-oil-supply-chain-adapts-to-us-glut-edmonton-storage-inventories-plummet-while-waterborne-shipments-ease-constraints-genscape-reports With a global oversupply of crude and ever-changing price environment, the crude oil supply chain between the U.S. and Canada has reacted quickly to rebalance supply and demand by moving U.S. crude north to the Canadian East coast, adding new infrastructure to de-bottleneck oil sand storage hubs, and conducting maintenance at Canadian oil sands production facilities, according to Genscape analysis. Husky Energy begins steam operations at Rush Lake http://www.worldoil.com/news/2015/5/22/husky-energy-begins-steam-operations-at-rush-lake Husky Energy has started commercial steam operations at the 10,000 bpd provider, Rush Lake heavy oil thermal project in Saskatchewan, approximately eight weeks ahead of schedule. OPEC seen unyielding in oil-market share battle with shale http://www.worldoil.com/news/2015/5/22/opec-seen-unyielding-in-oil-market-share-battle-with-shale OPEC will stick with the strategy of favoring market share over prices when it meets next month because rival producers are already starting to buckle. Oil rout spurs Canadian Pacific to cut shipments forecast http://www.worldoil.com/news/2015/5/21/oil-rout-spurs-canadian-pacific-to-cut-shipments-forecast Canadian Pacific Railway Ltd. cut its forecast for moving crude by rail for a second time in four months because of production delays and lower demand for the commodity. This year’s total will probably be 100,000 to 140,000 carloads, Chief Operating Officer Keith Creel said Wednesday. Canadian Pacific had forecast 140,000 in January, a reduction from its original outlook of 200,000. Risk from Canada’s oil sands reputation is as challenging as costs http://www.worldoil.com/news/2015/5/21/risk-from-canada-s-oil-sands-reputation-is-as-challenging-as-costs Canada’s oil sands industry faces an equal risk from its reputation as an environmental laggard, as from high operating costs, industry observers said. The failure to win approval for pipelines like TransCanada Corp.’s Keystone XL and Enbridge Inc.’s Northern Gateway is tied to concerns about carbon emissions with oil production, Ed Whittingham, executive director of the Pembina Institute, said at the Bloomberg Economic Series Canada summit in Toronto. “The oil sands feeds into concern about the climate,” he said. “The primary driving concern is climate.” Exxon Mobil accelerates Iran sanctions lobbying as nuke deal looms http://www.worldoil.com/news/2015/5/21/exxon-mobil-accelerates-iran-sanctions-lobbying-as-nuke-deal-looms Exxon Mobil Corp. is ramping up lobbying efforts with the U.S. government over Iranian sanctions that have locked out American oil companies from the Middle Eastern nation for more than three decades. Exxon Mobil, the world’s largest publicly traded crude producer by market value, hired the lobbying firm founded by former Senator Don Nickles—an Oklahoma Republican—to work on Iranian sanctions, according to federal disclosure documents. This is the first time since 2010 that the Irving, Texas-based oil company enlisted outside lobbyists to discuss Iran. Brazilian gas producer PGN plans $500 million output growth http://www.worldoil.com/news/2015/5/21/brazilian-gas-producer-pgn-plans-500-million-output-growth Parnaiba Gas Natural SA, Brazil’s biggest independent natural gas producer, is investing 1.5 billion reais ($500 million) in projects, including developing five fields in the country’s northeast. The producer, backed by Cambuhy Investimentos, which counts Brazilian billionaire Pedro Moreira Salles as an investor, expects the plan to increase gas output 71%, to 8.4 MMcmd (297 MMcfd) by July 2016, said Henrique Rzezinski, institutional relations vice president of the company, known as PGN Rosneft acquires 100% of Solimoes project from HRT http://www.worldoil.com/news/2015/5/20/rosneft-acquires-100-of-solimoes-project-from-hrt Rosneft Brasil and PetroRio (the new brand of HRT Participações em Petróleo S.A.) have announced the signing of the Rosneft Brasil transaction to acquire PetroRio’s 55% in the Solimões project.