The Newfoundland and Labrador Oil & Gas Industries Association (Noia) has responded to the moratorium on new oil & gas leasing in Arctic waters announced late yesterday.
President Barack Obama banned new offshore oil and gas development in more than 100 million acres of the U.S. Arctic and undersea canyons in the Atlantic Ocean, an announcement certain to provoke a fight with the Republican-led Congress and his successor in the White House.
KLR Energy Acquisition Corp., an oil and gas E&P focused special purpose acquisition entity, has announced that it has entered into a Business Combination Agreement with Tema Oil & Gas Company, a private company with assets in the core of the Delaware basin, in Loving County, Texas.
Operators in the U.S. put 12 more oil rigs in the field this week, according to the latest data from Baker Hughes.
Wavefront Technology Solutions Inc. is pleased to announce that the first two wells of a seven well Powerwave stimulation program have been completed in Bahrain.
API today blasted the EPA's abandonment of science in revising the conclusions to the Assessment Report on hydraulic fracturing.
Saudi Arabian Oil Co. signed contracts with U.S. companies to build dozens of oil rigs over 10 years as the kingdom builds for the long-term future of its most prized industry even while coordinating with other producers to cut output for six months to stabilize crude.
Maersk Oil CEO announced that the capital costs of its marquee Culzean HPHT gas project, located in the UK Central North Sea, have been reduced by $500 million U.S. as a result of improved drilling efficiency and robust upfront design and project planning.
Patterson-UTI Energy and Seventy Seven Energy have entered into a definitive merger agreement pursuant to which Patterson-UTI will acquire Seventy Seven Energy in an all-stock transaction.
Rampart Products has specified VICTREX HT polymer for a new HPHT KTK (Kintec) electrical connector for the efficient and safe transmission of power and data during the drilling process.
Noble Corporation and subsidiaries of Royal Dutch Shell have agreed to amend the existing long-term contracts on three ultra-deepwater drillships.
Operators in the U.S. added 27 rigs this week, according to the latest data from Baker Hughes. The number of rigs seeking oil rose 21 to 498, the highest level since January.
Devon Energy has announced an increase to its risked drilling inventory in the Delaware basin following a successful Leonard Shale stacked spacing test in southeast New Mexico.
Atwood Oceanics Inc. announced today that it has agreed with Daewoo Shipbuilding & Marine Engineering Co. (DSME) to delay the requirement to take delivery of Atwood's two newbuild ultra-deepwater drillships, the Atwood Admiral and the Atwood Archer, by two years to September 30, 2019 and June 30, 2020, respectively.
BP has started drilling on a potential gas play in southern North Sea block 43/26a that, if successful, could open up a new phase of development in the region. The well, being drilled with partners Perenco and Premier, will test the potential of a deep Carboniferous age horizon several hundred meters beneath the mature reservoirs produced by the Ravenspurn ST2 platform.
While Israel is not able to currently meet their energy needs domestically, few companies are well positioned to take advantage of the demand for energy. One such company is Zion Oil & Gas.
Up to five wells will be drilled before Statoil’s Mariner A platform hook-up and commissioning activity starts next summer. First oil is expected to be produced from Mariner in 2018. Hedda Felin, managing director, Statoil Production UK said, “This is an exciting period for us as a UKCS operator as we transition from the planning phase to active offshore operations.”
BP has sanctioned the Mad Dog Phase 2 project in the U.S., highlighting its long-term commitment to the country despite the current low oil price environment. Mad Dog Phase 2 will include a new floating production platform with the capacity to produce up to 140,000 gross bopd from up to 14 production wells. Production is expected to begin in late 2021.
The biggest beneficiaries of OPEC’s decision to shrink oil production will include its most implacable enemies: U.S. shale drillers.
KCA Deutag has been awarded a three-year contract extension by a major North Sea operator for drilling on four platforms in the UK North Sea.