All Oil & Gas Industry News

Baker Hughes: Canada rig count drops 61 units

Fri, Dec 28, 2018

Following a 43-drilling rig loss last week, Canada has fallen more than 100 rigs in 2 weeks with a 61-unit loss for the week ended Dec. 28, according to Baker Hughes data. With 70 rigs running, the count is below the 136 units drilling this week a year ago.

EIA: US crude, NGL production broke records in November

Fri, Dec 28, 2018

US crude oil and natural gas liquids production broke records in November and the first 11 months of this year, the US Energy Information Administration reported. November’s total US crude production averaged nearly 11.7 million b/d, 15.7% higher than a year earlier, as NGL production for the month climbed 11.2% to an average of almost 4.6 million b/d during the same period, EIA said.

EIA: US crude inventories virtually unchanged

Fri, Dec 28, 2018

US crude oil inventories for the week ended Dec. 21, excluding the Strategic Petroleum Reserve, remained virtually unchanged from the previous week, data from the US Energy Information Administration showed. EIA released the Weekly Petroleum Status Report 2 days later than normal because of the closure of the federal government on Dec. 24 and Dec. 25 for the Christmas holiday.

MARKET WATCH: Oil price drop partially erases previous gains

Fri, Dec 28, 2018

Light, sweet crude for February delivery settled down by more than $1.60/bbl on the New York market Dec. 27 while Brent crude for February dropped more than $2/bbl in London. Analysts attributed volatile oil prices to uncertainty about the world economic outlook amid thin holiday trading volumes.

Tethys gains interest in Mukhaizna oil field onshore Oman

Thu, Dec 27, 2018

Tethys Oil will gain a minority interest in Mukhaizna oil field through an agreement to acquire a 2% participating interest in Block 53 onshore Oman from Total E&P Oman for $32 million.

Novatek starts crude oil production at Yaro-Yakhinskoye

Thu, Dec 27, 2018

PAO Novatek started commercial crude oil production from Yaro-Yakhinskoye field in the Purovsky district of Russia’s Yamalo-Nenets Autonomous Region. Oil production capacity of the field, which was developed by Arcticgas, a joint venture of Novatek and Gazprom Neft, is estimated at 1.2 million tons/year.

MARKET WATCH: NYMEX, Brent oil prices rise after pre-holiday slide

Thu, Dec 27, 2018

Crude oil prices rebounded on the New York and London markets on Dec. 26 after having fallen drastically before the Christmas holiday. But oil prices fell again in early trading Dec. 27. Both crude oil benchmarks appear to be headed for losses of about 20% in 2018.

ExxonMobil: Guyana drilling, development work continues

Wed, Dec 26, 2018

Drilling and development offshore Guyana were unaffected by an incident involving seismic acquisition vessels on Dec. 22, ExxonMobil Corp. said Dec. 26. Two vessels operated by Petroleum Geo-Services ceased conducting 3D seismic data acquisition in the northwest portion of the Stabroek block offshore Guyana when approached by the Venezuela navy claiming a border breach.

MARKET WATCH: NYMEX crude oil prices drop to lowest since June 2017

Wed, Dec 26, 2018

The light, sweet oil price for February fell more than $3 in a shortened trading session on the New York market Dec. 24. Crude settled at $42.53/bbl—the front-month’s lowest closing since June 21, 2017. Analysts blamed the plunge on volatile US stock markets and ample oil production. US crude oil future prices have dropped some 40% since reaching 5-year highs in early October.

Kosmos, partners reach Tortue offshore gas field FID

Fri, Dec 21, 2018

Kosmos Energy and its partners have made a final investment decision to proceed with Phase 1 of the Greater Tortue Ahmeyim natural gas project offshore Mauritania and Senegal. 

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Latest OG&PE Articles

Baker Hughes: Canada rig count drops 61 units

28/12/2018

Following a 43-drilling rig loss last week, Canada has fallen more than 100 rigs in 2 w...

EIA: US crude, NGL production broke records in November

28/12/2018

US crude oil and natural gas liquids production broke records in November and the first...

EIA: US crude inventories virtually unchanged

28/12/2018

US crude oil inventories for the week ended Dec. 21, excluding the Strategic Petroleum ...

MARKET WATCH: Oil price drop partially erases previous gains

28/12/2018

Light, sweet crude for February delivery settled down by more than $1.60/bbl on the New...

Tethys gains interest in Mukhaizna oil field onshore Oman

27/12/2018

Tethys Oil will gain a minority interest in Mukhaizna oil field through an agreement to...

Novatek starts crude oil production at Yaro-Yakhinskoye

27/12/2018

PAO Novatek started commercial crude oil production from Yaro-Yakhinskoye field in the ...

MARKET WATCH: NYMEX, Brent oil prices rise after pre-holiday slide

27/12/2018

Crude oil prices rebounded on the New York and London markets on Dec. 26 after having f...

ExxonMobil: Guyana drilling, development work continues

26/12/2018

Drilling and development offshore Guyana were unaffected by an incident involving seism...