Ophir to abandon well in the Gulf of Thailand
Ophir Energy said it encountered oil after completing operations on a wildcat exploration well in the Gulf of Thailand, but it was below the threshold for economic viability.
Oil & Gas
Amec Foster Wheeler sets out decom credentials
Amec Foster Wheeler is ‘uniquely placed’ for decommissioning work in the North Sea oil and gas industry thanks to its experience in the nuclear sector, an international conference heard today.
Plan for Norway’s Zidane field set for next summer
A plan for developing Norway's Zidane natural gas field could be presented in the second or third quarter of 2016, with the early parts of summer being the most likely time frame, Austria's OMV has indicated.
Transerv’s Australian gas field is double size previously thought
Australia's Transerv Energy has revealed its Warro onshore gas field is more than twice the size it initially thought.
Rock Energy targeted for board shakeup by Activist FrontFour
US hedge fund FrontFour Capital Group has sent a letter to oil and gas producer Rock Energy Inc requesting a special meeting where it plans to replace three members of the board. The changes are necessary “in order to effect immediate and significant changes to the board in order to preserve and enhance shareholder value,” FrontFour said in a statement Thursday.
Urals Energy buys Russian companies for $5.3million
Urals Energy snapped up two private Russian companies, RK-Oil and BVN Oil for almost $5.3million.
Bibby Offshore launches jobs consultation
Bibby Offshore has launched a jobs consultation with staff over redundancies from its North Sea operations. It is understood around 120 jobs are under consultation with around 40 job losses expected across all departments.
No new date set for Utah oil and gas auction
A new date has not been set by the US government for an oil and gas natural lease auction of federal funds in Utah. Earlier this week it was postponed after overwhelming interest from the public, including climate activists.
Awilco profits jump but rigs face lay-up in 2016
Awilco Drilling has seen profits increase in the third quarter of 2015, but warned rig layup was likely to increase next year.
Stover to step down from Marathon Oil after 30 year career
Marathon Oil said its vice president of operations services will retire after more than 30 years working in the industry. Michael Stover will step down from his role at the end of the month after joining the company in 1986 as a roustabout. During his time with Marathon Oil he has been responsible for a number of roles which includes economic and reservoir studies for fields in Ireland, Tunisia and Norway.
88 Energy adds acreage in Alaska
88 Energy, which is currently drilling its flagship Icewine asset in Alaska, has expanded its footprint in the area after adding an additional 174,000 acres to its portfolio.
It’s not just oil that explorers can spill, secrets leak too
Australian oil producer Linc Energy Ltd. is investigating the source of a leak. Just not the sort that you’d expect. The Brisbane-based explorer is trying to determine how information about a possible deal involving some its shale oil assets was released “prematurely,” according to an e-mailed statement on Thursday.
Solo Oil farms out in Tanzania and Bowleven steps in
Solo Oil has farmed out its interest in the Ruvuma petroleum sharing agreement to help it accelerate two appraisal wells in Tanzania.
US oil and gas trade groups to merge
The American Petroleum Institute (API) is set to takeover America’s Natural Gas Alliance (ANGA). The move could see the groups become a stronger powerhouse after approval was granted by both board of directors. It means the two groups will combine into a single trade association, beginning next year.
San Leon spuds in Poland
San Leon Energy has spudded a new well in Poland as it continues it exploration focus in Europe and North Africa.
OPEC menaced by US shale hits Canada harder in price fight
OPEC took a swing at US shale and knocked down Canada. Threatened by surging production from North America, the Organization of Petroleum Exporting Countries has been pumping above its quota for 17 months as it seeks to take market share from higher-cost regions. The resulting 60 percent price crash is hitting Alberta harder than Texas. Canadian producers are struggling to cut the cost of extracting bitumen from the oil sands, and their other wells are failing to match the efficiency gains of US rivals, a Bloomberg Intelligence analysis shows.
TransCanada launches third round of job losses
TransCanada has begun another round of job losses as it looks to streamline costs. Workers were told the headcount reductions would be complete by the end of November. In June this year, 185 people were made redundant from its major project’s division, followed by a 20% reduction from its senior leadership positions in September.
Shell’s BG deal cleared by Australian competition regulator
Royal Dutch Shell Plc’s $70 billion deal to buy BG Group Plc was cleared by Australia’s competition watchdog despite concerns it could reduce natural-gas supply to local customers and boost prices. “The proposed acquisition would be unlikely to substantially lessen competition in the wholesale natural gas market,” Rod Sims, chairman of the Australian Competition and Consumer Commission, said in a statement on Thursday.
Shell makes 100million barrel deepwater find
Shell uncovered 100 million barrels of oil in one of its plays in the Gulf of Mexico.
Oil industry has shed 233,000 jobs, according to resource firm
The oil and gas industry has shed 233,000 jobs this year, according to Swift Worldwide Resources.
After leading oil industry on exploration, Eni seeks to cash in
One of the most cherished assets held by Italy’s largest oil company, Eni SpA, isn’t a refinery or an oilfield -- it sits inside a building in the small town of Ferrera Erbognone near Milan: one of the world’s fastest super- computers.
Fugro wins UK contract with Total
Fugro has won a five year contract with Total for provision of underwater services in the UK. The deal includes extension options for a further two years and will see Fugro provide a range of ROV (Remotely Operated Vehicles) services.
Husky presses ahead with heavy oil development
Husky Energy has sanctioned a new 10,000 barrels per day heavy oil thermal development in Saskatchewan, Canada.
OGUK boss welcomes UK Government’s energy policy
Oil & Gas UK chief executive Deirdre Michie has welcomed the UK Government's energy policy which has gas playing a central role in future power generation.
Iona Energy facing insolvency after restructuring deal falls through
North Sea oil company Iona Energy is facing insolvency after a proposed restructuring deal fell through.