North America ///
Breitburn Energy Partners and EIG Global Energy Partners have announced definitive agreements, whereby Breitburn will sell $350 million of perpetual convertible preferred units and $650 million of senior secured notes. The funds will be used for future growth and strategic acquisitions.
IRVING, Texas --Exxon Mobil has begun production at Hadrian South in the deepwater Gulf of Mexico. Gross production, from two wells, is expected to reach approximately 300 MMcfgd and 3,000 bopd.
America’s oil and freight railroad industries have developed a new education module for first responders as part of a holistic effort to better prevent, mitigate and respond to derailments of trains carrying crude oil.
Speculators were the least bullish on crude in two years before prices surged as Saudi Arabia and its allies bombed rebels in Yemen, threatening supply disruptions in the largest oil-producing region.
HOUSTON (Bloomberg) -- U.S. drillers targeting oil idled rigs for the 16th straight week, extending an unprecedented cutback in drilling, and dragging the total rig count down to the lowest level in more than five years.
Helix Energy has entered into a new multi-year contract with Shell to provide well intervention services in the U.S. Gulf of Mexico utilizing Helix’s Q4000.
Cray Inc. has been awarded a contract to provide Petroleum Geo-Services (PGS) with a Cray XC40 supercomputer and a Cray Sonexion 2000 storage system.
Schlumberger Oilfield Holdings Ltd., a wholly owned subsidiary of Schlumberger Ltd., has agreed to enter a guilty plea and to pay a $232,708,356 penalty to the U.S. for conspiring to violate the International Emergency Economic Powers Act by willfully facilitating illegal transactions and engaging in trade with Iran and Sudan.
A U.S. Department of Energy (DOE) report on crude oil properties and transportation safety highlights the continued need for efforts to prevent more train derailments, said API Director of Midstream Robin Rorick.
Wood Mackenzie's breakeven analysis of more than 800 individual assets in the Lower 48 reveals dramatic variations in the viability of company asset bases and sub-plays.
When Whiting Petroleum Corp. put itself up for sale this month, the oil industry appeared on the brink of a deal surge that would dramatically redraw the energy landscape.
HAMILTON, Bermuda -- C&J Energy Services, Inc. and Nabors Industries Ltd. have completed the combination of C&J with Nabors' completion and production services business.
Halliburton’s Production Solutions business line has introduced the CoilComm service to help maximize well production and the success rates of coiled tubing well interventions.
HOUSTON -- Halliburton’s Completion Tools business line has introduced the EquiFlow OptiSteam flow control device (FCD) for steam-assisted gravity drainage (SAGD) injectors.
Weatherford has announced the commercial release of its TruFrac composite frac plug at the 2015 Intervention and Coiled Tubing Association Conference and Exhibition.
Chesapeake Energy Corp. has reduced its 2015 capital budget—including capitalized interest of $500 million—to $3.5–$4.0 billion for 2015, which is a $500 million reduction from its previous guidance of $4.0–$4.5 billion.
Whiting Petroleum Corp. has given up finding a buyer, saying instead it will sell as much as 40.3 million shares and raise $1.9 billion in debt to clean up its balance sheet.
Billionaire investor Carl Icahn increased his stake in U.S. shale gas producer Chesapeake Energy Corp. for the first time in two years amid the stock’s worst quarterly performance since 2008.
Oceaneering International, as part of a consortium with GE Oil & Gas, has secured a contract with Eni Ghana Exploration and Production and its partners, Vitol and GNPC, to supply equipment for the Offshore Cape Three Points (OCTP) Block project development located off the coast of West Africa.
SAN DIEGO -- Sempra Energy’s subsidiary, Port Arthur LNG, has requested that the Federal Energy Regulatory Commission (FERC) initiate the pre-filing review for the company's proposed Port Arthur LNG natural gas liquefaction and export facility in Port Arthur, Texas.