North America ///
BP’s $18.7 billion U.S. legal settlement is being cheered by investors and analysts as it ends five years of financial uncertainty. It also makes the British oil producer a more attractive takeover target.
The sleepiest oil market since 2013 will probably limp through the second half of the year as well.
For the first time in almost seven months, America’s shale drillers put rigs in oil fields back to work, and they’re doing it at a lower price.
Drillers put rigs in U.S. oil fields back to work for the first time since December, driving down crude futures on speculation that an unprecedented retreat from the country’s prolific shale formations is ending.
Hess has completed the sale of a 50% interest in its Bakken midstream assets to Global Infrastructure Partners for a cash consideration of $2.675 billion, the company announced Wednesday.
BP Plc will pay a record $18.7 billion to resolve claims by the U.S. and five states along the Gulf of Mexico related to the 2010 oil spill.
Summit ESP has launched its Sentry(SM) Well Surveillance services, a real time Electrical Submersible Pump and Optimization Service.
Oil was steady after the biggest decline since April as an unexpected gain in U.S. crude stockpiles signaled a supply glut may persist.
The insurance protecting shale drillers against plummeting prices has become so crucial that for one company, SandRidge Energy Inc., payments from the hedges accounted for a stunning 64% of first-quarter revenue.
THE HAGUE -- Royal Dutch Shell has announced the final investment decision (FID) to advance the Appomattox deepwater development in the Gulf of Mexico. This decision authorizes the construction and installation of Shell’s eighth and largest floating platform in the Gulf of Mexico.
Canada’s National Energy Board (NEB) has approved the application of Quicksilver Resources Canada Inc. for a 25-year natural gas export license with a maximum term quantity of 733 Bcm. The issuance of this license is subject to the approval of the Governor in Council.
Iraqi crude production climbed to a record this month, helping send OPEC output to the highest level since August 2012.
New Dominion LLC can be sued by an Oklahoma woman injured when her fireplace fell on her during an earthquake that she blames on disposal wells tied to fracking.
Applus+ has been awarded a trio of contracts worth $17.35 million (AUS$22.5 million) for work on the Ichthys LNG Project’s onshore LNG facilities.
Oil held losses below $60/bbl as investors weighed the prospects of Iran increasing crude exports in an oversupplied market.
DCP Midstream Partners' new 200 MMcfd Lucerne 2 natural gas processing plant is now in service, increasing the partnership's processing capacity in the DJ Basin to approximately 400 MMcfd.
Xodus Group has been awarded a contract for the vibration assessment and analysis on the oil train piping and structures for Zakum Development company (ZADCO) at Zirku Island, 140 km north-west of Abu Dhabi.
Logan Industries, based in Hempstead Texas, has recently been awarded with an order for a Compensated Coiled Tubing Lift Frame (CCTLF) for Maersk Drilling. The CCTLF system will be designed and built in-house and is expected to be delivered to Maersk in Q2 2016.
New York state has officially banned hydraulic fracturing. The state, following through on a decision Democratic Governor Andrew Cuomo made in December, released its formal study of the drilling practice Monday after almost seven years of study.
Fugro’s dynamically positioned multi-purpose drilling, well intervention and geotechnical vessel, Fugro Synergy, is proving her capabilities on a multi well intervention campaign which recently started in the Gulf of Mexico.