Drilling ///

Promised land for gas drillers turns into glutted beach

Natural gas producers who last week were basking in the strongest price environment in almost a quarter century are getting crushed.

Oil slides as stock markets crumble, shale drilling accelerates

Oil’s decline accelerated as the deepening slump in equity and debt markets undermined the outlook for energy demand against the backdrop of swelling U.S. crude production.

Brent slips to one-month low as U.S. drilling grows, stocks drop

Oil’s rally is unraveling on fears over an increase in U.S. production and as a deepening slump in equities undermines market support.

Rockhopper Exploration, Diamond Offshore sign Letter of Intent for Sea Lion Phase 1

Rockhopper Exploration plc, the oil and gas company with key interests in the North Falkland basin and the Greater Mediterranean region, is pleased to provide the following update relating to Sea Lion Phase 1, in the North Falkland basin (RKH 40% working interest).

Faroe Petroleum commences drilling of Fogelberg appraisal well

Faroe Petroleum, the independent oil and gas company focusing principally on exploration, appraisal and production opportunities in Norway, the UK and Atlantic Margin, is pleased to announce the commencement of the Fogelberg appraisal well and contingent sidetrack 6506/9-4S &4A in the Norwegian North Sea (Faroe 28.3%).

Otto Energy provides update on SM 71 project in the Gulf of Mexico

Otto Energy Limited has advised that the Ensco 68 drilling rig has been repositioned over the SM 71 F1 well and operations to complete the F1 as a producing well in the D5 Sand have begun. This marks the end of drilling operations which began in early December 2017.

TechnipFMC, Island Offshore enter into strategic collaboration agreement

TechnipFMC has signed an agreement with the Island Offshore group to acquire a 51% stake in Island Offshore’s wholly owned subsidiary, Island Offshore Subsea AS.

Lukoil commissions first production well at Phase 2 of Filanovsky field

Lukoil has completed the construction and commissioning of the first well at the Phase 2 of Vladimir Filanovsky field in the Caspian Sea.

Chevron posts strongest year of crude discoveries since 2011

Chevron Corp. had its best year of oil and natural gas discoveries in more than half a decade as rebounding energy prices lifted drillers out of the worst slump in a generation.

Billions from Trump tax cuts supercharge fossil fuel sector

Oilmen, wildcatters and particularly refiners are reaping billions in gains from President Donald Trump’s tax overhaul, helping boost the staying power of old-style energy even as the world searches for cleaner fuels.

Bowleven contracts jackup rig for Etinde appraisal in Cameroon

Bowleven, the Africa focused oil and gas exploration group traded on AIM, is pleased to announce a key milestone in the appraisal drilling campaign of its Etinde asset, in which the Company holds a 25% offshore interest.

New company offers drilling fluids management and consulting services

Panther Fluids Management is a newly formed company providing drilling fluids management services and general consulting services for drilling operators.

Statoil contracts West Hercules semisubmersible for exploration drilling in the Barents Sea

The West Hercules semisubmersible rig has been contracted for drilling two exploration wells in the Barents Sea in 2018, and options to drill another five exploration wells.

Shell's best profit in three years marred by cash-flow drop

The oil-price rally worked both ways for Royal Dutch Shell as improved exploration and production lifted profit to a three-year high while refining and trading fell short of expectations as margins shrank.

Cnooc aims for highest spending in four years amid oil recovery

Cnooc Ltd. plans to raise capital spending to the highest since 2014 and revised upward its oil and gas output targets.

BHGE AM '18: BP Upstream CEO touts 'collaborating for competitiveness'

Bernard Looney, CEO of Upstream for BP, shared his views on the topic of collaboration to overcome industry challenges and build deeper partnerships on day two of the BHGE 2019 Annual Meeting.

No. 2 OPEC producer loosens oil shackles for premium prices

OPEC’s second-biggest producer is relinquishing some control over its prized oil in exchange for better prices.

Top Norway fund manager is betting on rigs for 200% return

After more than three years of taking a hammering, drillers are set to rise.

PetroChina says profit may triple amid cost cuts, higher oil

PetroChina Co., the country’s biggest oil and gas producer, forecast that full-year profit rebounded off a record low and may have tripled amid cost cutting and higher energy prices.

BHGE AM '18: Shell exec calls for greater energy renaissance

Harry Brekelmans, Royal Dutch Shell PLC's Projects and Technology Director, shared his ideas about what has been accomplished—and how much more needs to be accomplished—in the ongoing energy renaissance, on day one of the BHGE Annual Meeting (BHGE AM).