WorldOil Texas proceeds against two shale disposal wells linked to seismic activity The Texas Railroad Commission has initiated proceedings requiring the operators of two disposal wells in the area of Azle, Texas, to show cause why the injection permits for the wells should not be cancelled due to an alleged connection raised by new seismic research. Shell's pipeline transports first oil from Delta House platform in deepwater Gulf of Mexico Shell Pipeline Company's Odyssey Pipeline System has successfully transported the first crude oil produced from the LLOG-operated Delta House platform in the Mississippi Canyon protraction area of the Gulf of Mexico. Oil at $65 could free 500,000 bopd from shale ’fracklog’ Oil needs to recover to $65/bbl for U.S. drillers to tap a pent-up supply locked in shale wells and unleash more crude on markets than is produced by Libya. Gazprom signs cooperation agreement with Argentina's YPF Alexey Miller, chairman of the Gazprom Management Committee, and Miguel Galuccio, CEO of Argentine national petroleum company YPF, signed a memorandum of cooperation on Thursday. Premier Oil suspends Falklands well on BOP problem Premier Oil’s Isobel Deep exploration well offshore the Falkland Islands has been temporarily suspended, Falkland Oil and Gas Limited, a partner in the well, reports. Cnooc retains annual output target as sales slump on lower crude Cnooc Ltd., China’s biggest offshore oil and gas explorer, will keep its annual production target, undeterred by a 40% plunge in first-quarter sales. Increased brownfield focus for ADIL Independent energy consultancy ADIL has refocused its specialist brownfield project management team to help operators drive improved efficiency in this challenging sector of the North Sea oil and gas industry. KrisEnergy spuds Gulf of Thailand exploration well KrisEnergy has started drilling the Rayrai-1 exploration well in Block G10/48 in the Gulf of Thailand, with the Key Gibraltar jackup rig, where the company is currently developing Wassana oil field. Saudi Arabia’s solution to global oil glut: Pump even more crude Saudi Arabia has a response to the global surplus of oil: Raise output to near-record levels, and then pump even more. Schlumberger to acquire ownership in Spectrum's Pelotas program Spectrum has entered into a cooperation agreement with Schlumberger to acquire 50% ownership in Spectrum's Pelotas multiclient program. Ithaca Energy sells Norwegian business to MOL Ithaca Energy Inc. has entered into an agreement to sell its wholly owned subsidiary, Ithaca Petroleum Norge, for an initial consideration of $60 million.