More oil and gas companies are expected to file for bankruptcy this year as the coronavirus pandemic continues to depress energy demand.
“Remote operations” is more than just a buzzword for Xocean’s chief executive, and he’s got the boats to prove it.
Weir Group has announced it is preparing to exit its struggling oil and gas business, bringing uncertainty for 50 Aberdeen jobs.
Oilfield procurement specialists, Craig International, has continued to increase its global marketshare with two-thirds of the Aberdeen-headquartered company’s revenues now being generated outside of the UK.
TechnipFMC saw its profits halved in the third quarter of the year amid a series of pre-tax charges and “diverging trends” for its various business segments.
Pre-tax earnings at Halliburton were nearly halved in the first nine months of 2019 amid asset impairments and write-downs of its Venezuelan investments.
Houston oilfield service company Halliburton said it cut 8 percent of its North American workforce as it took fleets of hydraulic fracturing equipment from the field in response to a continued slump in demand for fracking services in the United States and Canada.
North American oil and gas bankruptcies fell to just 43 filings in 2018, down from 70 a year prior, according to the law firm Haynes and Boone.
Scottish engineering firm Weir Group reported a 10% increase in orders for its oil and gas division in the third quarter.
Total has teamed up with a North America transport fuel firm to deploy new natural gas heavy-duty trucks.
American Midstream Partners LP will acquire JP Energy Partners LP to expand operations in North American basins including the Permian, Gulf of Mexico and Eagle Ford.
A new study is warning of a world-wide oil supply shortage within the next 20 years, according to Wood MacKenzie.
Gadeco was forced to forfeit 800 barrels of oil after an “error” led the firm to drill in the wrong place.
Oil and gas hedging protections for North American exploration and production companies is expected to plunge next year to just 11% of total production volumes, according to new research. IHS Energy has warned many exploration and production companies could be left at risk of financial stress as a result. The analysis assessed the amount of oil and gas hedging protections in place for 48 small, midsized and large North American companies for the second-half of 2015 and full-year 2016. IHS found while overall hedging for second-half 2015 was largely unchanged from previous analysis one year earlier, North American exploration and production companies have a 28% of total production hedged for the remainder of this year.
TCO said it has expanded its workforce by a third after strong sales results for the company. The well completion technologies provider has employed eight new members of staff within the past six months for its UK base, including a new managing director. Paul Betteridge was appointed in March in response to company growth and to focus on TCO’s international expansion.
Weatherford said it plans to increase the number of headcount reductions within the company to 11,000. The number is up from the previous estimate of 10,000 and is expected to come from support staff within the US. The move has been made in response to what Weatherford sees as a weakening market in North America.
EMGS (Electrogmagnetic Geoservices)has been given approval to acquire more than 80,000sq km of 3D electromagnetic data in Mexico. Regulator CNH (Comisión Nacional de Hidrocarburos) gave the nod for the deal, which will last over a five year period. The work will be conducted in the Salina de Itsmo basin which is thought to have attractive reservoir opportunities.
A trio of oil majors have chosen to miss bidding for 14 blocks in Mexico in the first round of its historic auction, which opens the country's energy market up to private investors for the first time in more than 70 years. ExxonMobil, Total and Chevron have all passed on the opportunity which has seen just three successful bids so far.
Mexico has opened up its historic bid for shallow-water blocks in the first opportunity for private investors in more than 70 years. The country's regulator CNH (Comision Nacional de Hidrocarburos) had been calling for bids above the minimum 40% of pre-tax profits required by the government. To recap - Of the nine blocks so far, just two have been successful with a consortia of Sierra Oil & Gas, Premier Oil and Talos Energy winning both.
An Australian oil and gas firm has applied to the US government to export huge amounts of gas to North America. Liquified Natural Gas Limited today filed the application to the US Department of Energy through its subsidiary company, Bear Head - which is made up of both Bear Head LNG Corporation and Bear Head LNG (USA). Their request is for the export of around 440 billion cubic feet of American natural gas to Canada and around eight million tonnes of liquified natural gas (LNG) from Canada to other countries.