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Latest Headlines

Lundin launches drilling on Barents Sea Ornen Prospect
Lundin Petroleum has commenced exploratory drilling on the Ornen Prospect in the Norwegian southern Barents Sea on the Finnmark Platform...

Quadrant drilling Western Australia Roc-1 exploration well
(11/25/2015) Carnarvon Petroleum has reported that operator Quadrant Energy spudded the Roc-1 exploration well off Western Australia yesterday...

Apache contracts Qedi for UK North Sea commissionings
(11/25/2015) The Qedi unit of Amec Foster Wheeler has received a three-year contract from Apache North Sea to carry out commissioning of brownfield modifications...
Penspen contracted for Niger Delta gasfield reserves study
(11/25/2015) Penspen has been contracted by the Sirius Group to conduct an engineering study for the monetization of offshore gas reserves...

Bankers Petroleum awarded Hungary Pannonian Basin block
(11/25/2015) Bankers Petroleum has been awarded a block in northeastern Hungary's Pannonian Basin following its successful bid in the country's third bid round...
Shell & Petromanas secure rig for Albania appraisal drilling
(11/24/2015) Petromanas Energy and joint venture partner, Royal Dutch Shell, have secured a 3,000-hp drilling rig to carry out its planned appraisal drilling...

Edison to complete seismic shoot around Egypt's Zohr discovery
(11/24/2015) Egyptian General Petroleum Corporation has reported that Edison International intends to complete acquisition of seismic data off Egypt...

UMW Naga 8 jackup contracted by SapuraKencana
(11/24/2015) SapuraKencana Energy's Peninsular Malaysia unit and the company's subsidiaries in Sarawak and Sabah have contracted a jackup drilling rig...

Ikon Science enhances geomechanics in latest RockDoc platform
(11/24/2015) Ikon Science has added a number of significant enhancements to the geomechanics module as part of the release of the latest 6.3 version...

Senex prepping to drill South Australia Baikal-1
(11/24/2015) South Australia's PEL444 permit area operator, Terra Nova Energy, has reported that its technical contractor, Senex Energy, is in final preparations...

Chesapeake fined $1.4 million for triggered Pennsylvania landslide
(11/24/2015) The Department of Environmental Protection has reported Chesapeake Appalachia has agreed to pay a fine of US$1.4 million for violations...
Reduced production on FPSO on Norway's Alvheim Field
(11/24/2015) Det Norske Oljeselskap has revealed the floating production, storage, and offloading vessel on the Alvheim Field will be operating at reduced production...

PGNiG developing Pakistan's Rehman & Rizq Fields
(11/24/2015) Polskie Gornictwo Naftowe i Gazownictwo has begun a US$13 million full development program onshore Sindh, Pakistan in its Rehman and Rizq Fields...

Quintana Energy Services adds Archer Well Services
(11/24/2015) The Quintana Energy Services unit of Quintana Energy Partners is acquiring all outstanding shares of the Archer Well Services unit of Archer...

Triple Energy to frac & test Yixin-1 CBM well in China's Daqing Basin
(11/24/2015) Triple Energy is to frac and test the Yixin-1 coalbed methane exploration well in the Bird Mountain area of Heilongjiang Province, China...

Sound cuts cost of Badile well onshore Italy by 5 million euros
(11/24/2015) Sound Energy has reported achieving a significant reduction in the estimated cost of its forthcoming Badile exploration well in Lombardy...

CITIC spuds Oseil-22 development well in Indonesia
(11/24/2015) Lion Energy has reported operator CITIC Resources has spudded the Oseil-22 development well on Indonesia's Seram Island in the Seram Block...

Hibiscus sub set to start drilling offshore Oman
(11/23/2015) Hibiscus Petroleum's indirect subsidiary Masirah Oil, which holds the licensee for Oman's offshore Block 50, is to commence exploratory drilling...

Benthic contracted for Browse LNG geotechnical site investigation
(11/23/2015) Benthic has been awarded two contracts by Woodside Petroleum to undertake offshore geotechnical site investigations for Browse LNG...

Resolute selling Texas Midland Basin Gardendale assets
(11/23/2015) Resolute Energy has entered into a definitive agreement to sell its Gardendale assets in the Midland Basin of West Texas for US$177.5 million...
PSA inspection finds need for improvement in Gina Krog barriers
(11/23/2015) The Petroleum Safety Authority of Norway has conducted an audit of Statoil's work on barrier management in the Gina Krog development...

Elk acquires all Devon Oil properties in Nebraska
(11/23/2015) Elk Petroleum has acquired 100% operated interest in Devon Energy's Banner County, Nebraska oil properties adjacent to Elk's Singleton Field...
Jackup KS Java Star set for work offshore Indonesia
(11/23/2015) KS Energy has reported that it has received a new contract for its jackup drilling rig KS Java Star for a drilling project offshore Indonesia...

KrissEnergy granted Thai Gulf Rossukon Production Area
(11/23/2015) KrisEnergy has received approval from the Thai government for a production area designation for the area around its Rossukon discovery...

Infinity moving toward offshore Nicaragua drilling
(11/23/2015) Infinity Energy Resources has obtained agreement from the Nicaraguan Ministry of Energy and Mines and Petroleos de Nicaragua to move forward...

Premier spuds redrill of Isobel Deep off Falkland Islands
(11/23/2015) Falkland Oil & Gas has advised that Premier Oil has commenced drilling operations on the 14/20-2 Isobel-2 well redrill in Falklands' Northern Basin...

Shell Australia picks Monadelphous for Prelude FLNG Project
(11/23/2015) The Monadelphous Group has been awarded a long term maintenance and modifications services contract with Shell Australia's Prelude FLNG...

Jericho makes 4th acquisition in Central Oklahoma
(11/23/2015) Jericho Oil has agreed to acquire a 50% working interest in producing wells and drillable leaseholds in Central Oklahoma for US$6.50 million...
Statoil receives consent for North Sea exploration drilling
(11/23/2015) The Norwegian Petroleum Safety Authority has given Statoil its permission to proceed with the drilling of an exploration well in the Norwegian North Sea...

BG takes stake in Cyprus' Aphrodite gas discovery block
(11/23/2015) The BG Group has acquired a 35% interest in Cyprus' offshore Block 12 off the south coast in which the large Aphrodite gas discovery was made...

TGS reprocessing 2D broadband seismic off Portugal
(11/23/2015) TGS Nopec Geophysical has advised that it is currently reprocessing 2D broadband seismic data shot in the Atlantic offshore Portugal...

Aptomar awarded 3-year frame contract by OMV Norway
(11/22/2015) OMV Norway has awarded a three-year frame agreement to Aptomar for integrated field monitoring services at its Norwegian operations...

Iran calls for OPEC to cut total oil production to daily quota
(11/22/2015) Iran has called for the Organization of Petroleum Exporting Countries to reduce its total oil production to return to the established daily quota...
ATP to pay $41.9 million for US Gulf illegal discharge
(11/22/2015) ATP Oil & Gas has agreed to pay US$41.85 million for unlawful release of oil and chemicals from a floating oil and gas production platform into the Gulf...

Striking oil worker unions reject Petrobras' latest offer
(11/22/2015) Nearing a third week of a general strike by oil worker unions in Brazil against Petroleo Brasileiro, the unions were in disagreement on a new offer...
BLM's US Thompson Divide EIS puts 25 leases in jeopardy
(11/22/2015) The US Bureau of Land Management has released a draft environmental impact statement that examines 65 White River National Forest leases...

Saudi oil minister says crude production needs to increase
(11/22/2015) Saudi Arabia's Minister of Petroleum Ali al-Naimi has said he expects competition between OPEC and non-OPEC producers to continue...

Cairn India's Barmer concession in Rajasthan to extend 10 years
(11/22/2015) India's Rajasthan State Secretary C. S. Rajan has advised that the government has agreed to extend Cairn India's contract for the Barmer Block...

Philex unit pulls out of Peru exploration project
(11/22/2015) The Pitkin Petroleum unit of Philex Petroleum has relinquished its 100% operating interest in northeastern Peru's onshore Block 28...
 For more headlines, select from OGI Departments at top left
From the Editor

Oil patch garage sales across the globe

Dev George
Managing Editor

With oil prices depressed now for almost a year with no real relief in sight for at least another year, despite the rollercoaster markets of late, the cost to oil and gas producers and the suppliers of equipment and services to explore, develop, and produce oil and gas has become a significant factor in their continuing to do business while meeting their debt requirements...⇒⇒⇒
Latest Editorials
Oil/Gas Prices & Analysis
All but WTI up in price on Saudi pledge on price stability

(11/23/2015) Traders at the Intercontinental Exchange (ICE) in London and the New York Mercantile Exchange (Nymex) kicked off this week's trade with a day of volatile floor action that had prices rising and falling almost by the hour that finally ended with all of our monitored benchmarks up somewhat from their opening numbers with the exception of West Texas Intermediate (WTI), which ended the day a little lower...⇒⇒⇒
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