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Latest Headlines

Shell sells Western Canada shale acreage to Tourmaline for $1 billion
(10/20/2016) Royal Dutch Shell's affiliate Shell Canada Energy has agreed to sell 206,000 net acres of non-core oil and gas properties in Western Canada...

Tullow reveals planned northern Zambia exploration program
(10/20/2016) Tullow Oil's Zambian subsidiary is planning to undertake an extensive exploration campaign in Zambia's northern Luapula and Northern Provinces...

Delivery of Sevan Developer drilling rig delayed to April 2017
(1/20/2016) China Ocean Shipping Company subsidiary Cosco Qidong has again delayed delivery of the Sevan Developer drilling rig per Sevan's option...

Aqualis wins FPSO marine warranty service contracts off Brazil
(10/20/2016) Marine and offshore engineering consultancy Aqualis Offshore has been awarded contracts to provide marine warranty services to three FPSOs...

Woodside completes Julimar project in prep for Wheatstone 1st gas
(10/20/2016) Woodside Energy has advised a key component in preparation for startup of gas production from the Wheatstone Project offshore Western Australia...

Subsea 7 wins EPCI contract off Egypt from BP-EGPC JV
(10/20/2016) Subsea 7 has reported receiving a substantial contract offshore Egypt from Pharaonic Petroleum Company in water depths of over 900 meters...

Verus buys Maersk stake in UK North Sea Boa Field
(10/20/2016) Verus Petroleum has reported concluding an agreement with Maersk Oil North Sea UK for the acquisition of its 9.8% interest in the Boa oilfield...

CGG GeoSoftware introduces new anisotropic inversion in Jason
(10/20/2016) A new anisotropic inversion capability within GeoSoftware's Jason solution was introduced today at the Society of Exploration Geophysicists Conference...

Gastar in JV to develop 60 Oklahoma STACK Play wells
(10/20/2016) Gastar Exploration has executed a definitive agreement with a private global investment fund to jointly develop up to 60 of its operated wells...

CPX drilling 3rd of 9 wells targeting Texas' Upper Wolfcamp
(10/20/2016) CP Exploration has begun drilling the Durham Smith Fuente 209HL, its third horizontal well in the Delaware Basin in Reeves County, Texas...

SOFEC awarded Benchamas FSO external turret project
(10/19/2016) SOFEC has been contracted to provide an external turret for the floating storage and offloading vessel to be installed Thailand's Benchamas Field...

KBR wins FEED contract for East Java, Indonesia LNG terminal
(10/19/2016) KBR has been awarded a pre-front end engineering and design study for Australasia LNG Indonesia's new proposed liquefied natural gas hub...
Fluor completes Fort Hills oil sands modules fabrication
(10/19/2016) Fluor has fabricated and shipped all 358 modules for the Fort Hills Energy oil sands mining project in the Athabasca region of Alberta, Canada...

Southern North Sea Rejuvenation SIG launched
(10/19/2016) The UK Oil & Gas Authority and the East of England Energy Group have launched a new Southern North Sea Rejuvenation Special Interest Group...

Global Maritime given master services agreement by Statoil
(10/19/2016) Global Maritime Consultancy & Engineering has been awarded a master services agreement by Statoil covering a range of studies and surveys...
Quadrant tests Roc-2 well off Western Australia at 51.2 million cf/d
(10/19/2016) Quadrant Energy has confirmed a successful flowtest of its Roc-2 exploration well offshore Western Australia 165 km north of Port Hedland...

ExxonMobil lines up 1st offshore Liberia exploration well
(10/19/2016) ExxonMobil is to commence drilling operations in Liberia early next month with the drilling of its first exploration well in Liberian waters, the Mesurado-1...

Cluff ups estimate of UK North Sea license to 1.282 Tcf
(10/19/2016) Cluff Natural Resources has obtained a substantial increase in the prospective resources for its 100% held license in the UK southern North Sea...

CNPC's southern Peruvian Amazon block holds 3-4 Tcf proven gas
(10/19/2016) Proven natural gas reserves in China National Petroleum Corporation block in Peru's southern Amazon Basin have been recently estimated...

Cooper sells stake in Indonesia's Tangai-Sukananti Block to Bass Strait
(10/19/2016) Cooper Energy has accepted an offer from Bass Strait Oil for its remaining Indonesian asset, 55% interest in an onshore block in South Sumatra Basin...

Prospex wins enviro approval for onshore Poland exploration well
(10/19/2016) Prospex Oil & Gas has reported approval being received from Poland's Ministry of Environment for the drilling of the Boleslaw-1 exploration well...

Gulfsands farms out Colombia block to Samarium
(10/19/2016) Gulfsands Petroleum has agreed to farmout majority interest in Colombia's Putumayo 14 exploration and production block to Samarium Energy...

QGEP takes over partner Pacific Brasil's stakes in Brazilian blocks
(10/18/2016) Queiroz Galvao Exploration & Production has agreed to assume the interest its partner, Pacific Brasil, holds in three exploratory blocks in Brazil...

SM Energy paying $1.1 billion in cash for Texas Midland Basin acreage
(10/18/2016) SM Energy has agreed to acquire 35,700 net acres in Howard and Martin Counties in West Texas to expand its Midland Basin footprint to 82,450 acres...

Libya's giant Waha oilfield back on production
(10/18/2016) The giant Waha oilfield onshore eastern Libya south of Benghazi is reported to have resumed production by operator Waha Oil Company...

Another JV given go ahead for Pemex in shallow water Gulf
(10/18/2016) Petroleos Mexicanos has received permission from Mexico's Directorate General de Hidrocarburos to solicit a partner for two shallow water fields...

Aker BP given go-ahead to drill Langfjellet appraisal off Norway
(10/18/2016) The Norwegian Petroleum Directorate has granted Aker BP a permit to drill an appraisal of the Langfjellet discovery in the Norwegian North Sea...

Condor puts Kazakhstan's Taskuduk Field on production
(10/18/2016) Condor Petroleum has reported commercial oil production has commenced at its operated Taskuduk oilfield onshore Kazakhstan...

CGG reprocessing seismic from Mexican Gulf of Mexico Perdido Belt
(10/18/2016) CGG is currently undertaking its Encontrado advanced imaging reprocessing project for the Mexican part of the prolific Perdido fold belt...

Canacol tests Colombia Trombon-1 discovery at 26 million cf/d
(10/18/2016) Canacol Energy has reported the Trombon-1 discovery in Colombia's Lower Magdalena Basin is its fifth consecutive gas exploration success...

Oasis acquiring 55,000 acres in Williston Basin for some $785 million
(10/18/2016) Oasis Petroleum has signed a purchase and sale agreement to acquire approximately 55,000 net acres and an estimated 226 operated drillsites...

CGG releases updated reservoir characterization software
(10/18/2016) CGG GeoSoftware has releases a series of reservoir characterization software updates to improve their efficiency for interpretation experts...

Casillas buys Continental's Oklahoma SCOOP assets
(10/18/2016) Casillas Petroleum Resource Partners has purchased oil and gas assets owned by Continental Resources in the SCOOP play in Oklahoma...

Aminex gearing up to drill Ntorya-2 appraisal in Tanzania
(10/18/2016) Aminex has advised civil work for the Ntorya-2 wellsite inTanzania's Ruvuma Basin is now complete and rig mobilization has begun...

Comstock divests South Texas natural gas properties
(10/17/2016) Comstock Resources has entered into a definitive agreement to sell its conventional natural gas properties in South Texas for US$28 million...

Statoil makes Norwegian Sea discovery at Njord North Flank
(10/17/2016) Statoil has achieved an oil and gas discovery at the Njord North Flank in the Norwegian Sea with its NF-2 and NF-3 exploration well and the sidetrack...

McDermott derrick lay vessel to install Ichthys LNG subsea infrastructure
(10/17/2016) Inpex has reported McDermott's deepwater derrick lay vessel DLV2000 left Broome, Australia yesterday for the Ichthys Field off Western Australia...

TransAtlantic selling Turkey Thrace Basin blocks to Valeura
(10/17/2016) TransAtlantic Petroleum has entered into a share purchase agreement with Valeura Energy for the sale of Thrace Basin Natural Gas Turkiye...

Oilex & GSPC agree on India's Cambay PSC test well
(10/17/2016) Oilex Ltd has executed an agreement with its joint venture partner, Gujarat State Petroleum Corporation on the next planned well in the Cambay Field...

NIS buys 10,000 channels of cable-free seismic acquisition system
(10/17/2016) Naftna Industrija Srbije, the Serbian national petroleum company, has purchased 10,000 channels of cable-free land seismic acquisition units...

Startup of Qatar's Barzan Gas Project delayed by gas leak
(10/17/2016) RasGas, operator of the giant US$10.3 billion Barzan Gas Project in the Qatari sector of the Persian Gulf has advised that startup is being delayed...

Dril-Quip acquiring oil & gas market supplier TIW for $143 million
(10/17/2016) Dril-Quip has agreed to acquire the industry leading TIW Corporation downhole products manufacturer for approximately US$143 million...

HHDL submits application to test & drill UK Horse Hill-1 discovery
(10/17/2016) Horse Hill Developments Ltd has submitted a planning application to England's Surrey County Council for permission to conduct further testing...

SeaBird set to shoot long-offset 2D survey off Belize
(10/17/2016) SeaBird Exploration is gearing up to commence a long-offset 2D seismic acquisition in the Caribbean Sea's Gulf of Honduras offshore Belize...

OMV Petrom transferring 19 fields onshore Romania to Mazarine
(10/17/2016) The OMV Petrom subsidiary of Osterreichischen Mineralolverwaltung has agreed to sell 19 oilfields onshore Romania to Mazarine Energy Romania...

Polarcus & TGS to collaborate on new 3D MC seismic projects
(10/17/2016) Polarcus has entered into a memorandum of understand to collaborate with TGS-Nopec Geophysical to jointly undertake 3D multi-client surveys...

CGG & Wood Mackenzie release exploration valuation platform
(10/17/2016) CGG and Wood Mackenzie have launched a powerful decision support platform to enable determining the value of undrilled acreage...

ODE signs 4-year framework agreement with DONG Energy
(10/17/2016) The Doris Group's ODE consultancy has obtained an engineering services framework agreement with the DONG Energy unit of Dansk Olie og Naturgas...

Oceaneering acquires Blue Ocean Technologies assets
(10/17/2016) Oceaneering International has acquired the assets of Blue Ocean Technologies, the private provider of riserless light well intervention services...

ESG launches enhances reservoir characterization for fracturing
(10/17/2016) ESG Solutions has added enhanced reservoir characterization services for hydraulic fracturing to its offering of microseismic technology and services...

GeoPark's latest Tigana Field producer in Colombia tests 3,200 b/d
(10/17/2016) GeoPark has successfully drilled and tested its Tigana-4 development well in the Tigana Field onshore Colombia in its operated Llanos 34 Block...

PGS adds another supercomputer at its Houston Mega Center
(10/17/2016) Petroleum Geo-Services has revealed the addition of another Cray XC supercomputer at its Houston Mega Center to facilitate processing and imaging...

 For more headlines, select from OGI Departments at top left
From the Editor

Who wins & who loses in OPEC agreement to limit oil production

Dev George
Managing Editor

The Organization of Petroleum Exporting Countries' agreement to take up a policy change to limit member production by either a freeze or a cap at a particular level at the cartel's 30 November meeting in Vienna may or may not come to anything other than another chorus of obfuscation of real intentions, including the continuation of the last two years' pump-at-will strategy led by Saudi Arabia...⇒⇒⇒
Latest Editorials
Oil/Gas Prices & Analysis
Crude futures grow to 15-month highs on US stock draw

(10/19/2016) Traders at the New York Mercantile Exchange (Nymex) and London's Intercontinental Exchange (ICE) were surprised by a drawdown in US crude inventories reported today by the US Energy Information Administration (EIA) when analysts were anticipating a build...⇒⇒⇒
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