WorldOil Port Fourchon signs agreements, plans next generation of port facilities The Greater Lafourche Port Commission (GLPC) is moving forward with its plans to develop the next generation of deepwater port facilities at Port Fourchon, thanks to a newly signed agreement with the Edward Wisner Donation, granting GLPC a Right of First Refusal on over 900 acres of property immediately south of the port. Maersk Oil set to cut jobs at headquarters Maersk Oil has outlined plans to review the scope and scale of its headquarters organization over the next three months, in response to the recent outcome of the Maersk Group’s strategic business review and Maersk Oil’s exit from Qatar in 2017. Chesapeake receives subpoena on accounting practices Chesapeake Energy said it’s facing U.S. Justice Department scrutiny of how the natural gas explorer accounted for its assets. Oil climbs to one-month high after OPEC agrees on production cut Oil rose to a one-month high after OPEC agreed to reduce production for the first time in eight years, surprising traders who had expected members to maintain output. Maersk Oil starts drilling first production well on HPHT Culzean project Maersk Oil has started drilling the first production well on the UK's Culzean field. Packers Plus increases stimulation efficiency and reservoir coverage in the Montney formation Packers Plus Energy Services developed a unique completion design that helped to significantly increase stage counts and pump rates to stimulate more pay zone over previous wells for an operator in British Columbia's Montney formation. ITF and SPE sign MOU to accelerate technology development The Industry Technology Facilitator (ITF) has signed a memorandum of understanding (MOU) with the Society of Petroleum Engineers (SPE) to share and enhance global technology development opportunities in the oil and gas industry. Here's what analysts are saying about the OPEC deal OPEC's surprise agreement to cut oil production—for the first time in eight years— buoyed crude oil prices, amid signs the coordinated action would help to reduce supply in the market. Saudi Aramco CEO calls on upstream industry to transform The global upstream oil and gas industry needs to move away from a “business as usual” approach and capitalize on opportunities to transform itself to be at the forefront of the world’s energy industry. KKR, Venado Oil and Gas form Eagle Ford partnership KKR and Venado Oil and Gas are partnering to consolidate proven assets in the Eagle Ford shale of South Texas. DNV GL launches JIP in fight against cybercrime Cybercrimes cost energy and utilities companies an average of $12.8 million each year in lost business and damaged equipment. Platform operators need confidence that countermeasures can deal with bigger and more sophisticated cyber-attacks.