WorldOil Exxon, Chevron outlooks cut to negative by SandP in oil slump Exxon Mobil and Chevron were among several U.S. oil and natural gas producers that had their outlooks or ratings cut by Standard and Poor’s as the industry suffers from weak crude prices, hurting their cash flow and liquidity. U.S. independent producers: Federal ozone standard is all costs, no benefits Independent Petroleum Association of America (IPAA) Executive V.P. Lee Fuller released a statement in response to the U.S. Environmental Protection Agency (EPA) tightening federal standards for ground-level ozone levels. Oil rebounds after U.S. producers reduce rigs to 5-year low Crude rose after U.S. explorers reduced the number of rigs drilling for oil to a five-year low, signaling further drops in production. INPEX to drill in North Area of Japan’s Yabase oil field INPEX Corp. plans to drill a well for data gathering purposes into the low-permeability sand stratum in the North Area of Yabase oil field in Akita Prefecture, Japan. Winters Instruments introduces Multiport and Block and Bleed needle valves Winters Instruments, a global manufacturer of pressure and temperature instrumentation, introduces the Winters Multiport (NVA Series) and Block and Bleed (BBV Series) Needle Valves. Hurricane Joaquin may threaten East Coast energy infrastructure Hurricane Joaquin, which strengthened to a Category 4 storm on Thursday, is on track to move north along the East Coast this weekend, potentially bringing torrential rainfall and flooding to the region. EV Energy Partners closes acquisitions in Appalachian basin, San Juan basin, Michigan and Austin Chalk EV Energy Partners (EVEP) has closed four acquisitions purchased from certain institutional partnerships managed by EnerVest, Ltd. Maersk Oil’s discovery near Tyrihans field disappoints STAVANGER, Norway -- Maersk Oil Norway, operator of production license 510, is about to complete the drilling of wildcat well 6406/6-4 S. Technip wins subsea contract for Shell's Stones development Technip has been awarded a contract by Shell Offshore for the development of subsea infrastructure for the Stones project. Included in the service are two subsea production tie-backs to the FPSO vessel. Lundin resumes exploration in Malaysia with Mengkuang-1 wildcat Lundin Malaysia, a wholly owned subsidiary of Lundin Petroleum, has resumed exploration drilling in Malaysia with the spudding of the Mengkuang-1 exploration well in license PM307, offshore Malaysia. Statoil enters UK license for Alfa Sentral project Statoil has acquired First Oil’s 24% equity share in the UK license for Alfa Sentral field for $15 million.