Americas

Americas

BP ‘cut corners in building pipeline’

15/10/2014

BP chose to “cut corners” when an oil pipeline was built across land belonging to Colombian farmers, then put up “a smokescreen of obfuscation" when things went wrong, a QC has said in the High Court.

Americas

Venezuela ordered to pay $1.6billion to Exxon

10/10/2014

A World Bank tribunal has ordered Venezuela to pay oil giant ExxonMobil about $1.6billion to compensate for oil nationalisation. Venezuela said it would pay the award, but only after deducting a previous Exxon award from the International Chamber of Commerce (ICC) of $908million.

Americas

Halliburton strikes deal with Ecuadorian state-run oil company

09/10/2014

Energy giant Halliburton has signed a long-term contract with Ecuador’s state-run oil company Petroamazonas to provide field development and project management across nine mature fields. The contracts, for fields including the Palo Azul, Lago Agrio, and Victor Hugo Ruales, are 15 years long with the potential for a further five-year extension.

Americas

Shale boom tested as sub-$90 oil threatens US drillers

08/10/2014

The U.S. shale boom is producing record amounts of new oil as demand weakens, pushing prices down toward levels that threaten to reduce future drilling. Domestic fields will add an unprecedented 1.1 million barrels a day of output this year and another 963,000 in 2015, raising production to the most since 1970, according to the U.S. Energy Information Administration. The Energy Department’s statistical arm forecasts consumption will shrink 0.2 percent to 18.9 million barrels a day this year, the lowest since 2012.

Americas

US gas boom turns global as LNG exports to shake up market

01/10/2014

The US natural gas boom is poised to go global as the government approves projects that will export the fuel to buyers from Tokyo to New Delhi. Dominion Resources Inc.’s Cove Point terminal in Maryland won authorization Sept. 29 from the US Federal Energy Regulatory Commission to ship liquefied natural gas around the world. It’s the fourth export project to win permission and the first outside the Gulf of Mexico. Construction will cost between $3.4billion and $3.8billion, Dominion said yesterday.

Americas

Ocean Installer wins $50million Brazil contract

29/09/2014

A subsea company with extensive operations in the North Sea basin has been awarded a contract in Brazil worth $50million. Ocean Installer will provide SURF (subsea, umbilical, risers and flowlines) support work in Brazil for Saipem. The contract will see the Normand Clipper – one of the company's three long-term chartered support vessels (CSV ) - used in the South American country for eight months, with options to extend.

Americas

Bakken shale speculator is charged with arranging two murders

19/09/2014

A felon suspected of defrauding investors in the booming oil fields of North Dakota was charged with arranging the murders of a business partner gunned down in his kitchen and a truck driver who vanished in 2012. James Henrikson, 35, orchestrated the murder of his partner, Douglas Carlile, on Dec. 15 in Spokane, Washington, according to an indictment unsealed there two days ago by US prosecutors. Henrikson, a felon with drug and weapons arrests, faces the death penalty or life in prison. He joined Carlile, a roads contractor, in trying to cash in on the gold rush spawned by hydraulic fracturing, or fracking, in North Dakota.

Americas

Oil clogging US rail

19/09/2014

Shipping companies probably will miss out on exports from the record U.S. grain harvest because the shale-oil boom is clogging up rail lines to ports. While the US will reap the most crops ever, fourth- quarter export cargoes will be 15 percent lower than last year, according to RS Platou Markets AS, a Norwegian bank specialized in shipping. Rates for Panamaxes, the most commonly used vessels for grains, averaged $7,574 a day this year, headed for the lowest level since at least 1999, Baltic Exchange data show.

Americas

Nostra Terra’s Colorado well exceeds expectations

18/09/2014

Nostra Terra has announced a record level of production in one of its Colorado wells. The London-listed oil and gas exploration and production company has revealed that, over the past 10 days of production, the well produced at an average rate of 83.4 barrels of oil per day (bopd) gross. ​

Americas

Caza’s frac pays off

18/09/2014

Caza Oil & Gas' decision to deploy specialist frac technologies to leverage its reservoir capabilities has paid off. The US-focused exploration company confirmed its Broadcaster Bone Spring Well, located in Lee County, New Mexico, was fractured to stimulate in 40 stages earlier this month. Two days later the well produced a 24 hour gross rate of 2,621 barrels (bbls) of oil equivalent, which is comprised of 2,062 bbls of oil and 3.36 million cubic feet of natural gas. The firm dubbed the well “very strong” and expects peak production to be achieved before the end of the month.

Americas

Fracking study spurs call for rules to leakproof US gas wells

17/09/2014

A study that blamed natural gas drilling for water pollution in two states has spurred calls for stricter regulations to keep wells from leaking methane into aquifers. The study backed the oil and gas industry in one respect: It discounted hydraulic fracturing, or fracking, as the source for harmful methane in water. Some environmentalists contend that by blasting rock with a mixture of water, chemicals and sand, producers can force the gas into drinking water near the surface.

Breaking