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Oil And Gas News / Reports
Northern Oil and Gas to buy Williston basin assets from VEN Bakken

Northern Oil and Gas Inc., Minneapolis, has agreed to acquire from VEN Bakken LLC the company’s Williston basin assets for $165 million in cash, a $130 million 6% 3-year senior unsecured note due 2022, and some 5.6 million shares of Northern common stock.


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Qatar Petroleum tenders for 60-100 new LNG carriers

Qatar Petroleum issued an invitation to tender for construction of the LNG carrier fleet for its North Field Expansion project. 


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US to end sanctions waivers for major Iranian oil importers

The White House confirmed on Monday morning that it will end all waivers from Iran sanctions when they expire on May 2. 


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FERC staff issues final EIS for Annova LNG Brownsville project

The proposed Annova LNG Brownsville natural gas liquefaction plant and export terminal along the Brownsville Ship Channel in Cameron County, Tex., would have adverse environmental impacts which mostly could be reduced to less-than-significant levels if recommended mitigation measures are implemented, FERC staff said on Apr. 19 in a final environmental impact statement.


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COGCC issues interim guidelines as it develops new regulations

The Colorado Oil & Gas Conservation Commission issued interim guidelines for operators on Apr. 19 as it began to develop new regulations to comply with new restrictions the state legislature adopted and Gov. Jared Polis (D) signed into law.


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ExxonMobil signs 20-year LNG agreement with Zhejiang Energy

ExxonMobil and Zhejiang Provincial Energy Group entered into a sale and purchase agreement for liquefied natural gas.


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Aramco to buyout Shell’s interest in Sasref refining joint venture

Saudi Aramco has reached a deal to acquire Royal Dutch Shell PLC’s share of the partners’ 50-50 joint venture Saudi Aramco Shell Refinery Co.(Sasref), which operates the 305,000-b/d refinery at Jubail, Saudi Arabia.


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Kuwait lets contract for Al-Zour integrated complex

Kuwait Integrated Petroleum Industries Co. has let a contract to McDermott International Inc. to provide technology for a new unit at KIPIC’s grassroots 615,000-b/d Al-Zour integrated refining and petrochemical complex under construction in southern Kuwait.


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Foreign (US) role in Alberta elections alleged by blogger

Long before the United Conservatives Party spanked incumbent New Democrats in Alberta elections Apr. 16, questions of foreign influence cried for attention.

 


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Hurricane spuds Warwick Deep well off UK

Hurricane Energy PLC has spudded the 205/26b-C well (Warwick Deep) in the Greater Warwick Area (GWA) west of the UK Shetland Islands.


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Eni to operate block off Ras Al Khaimah

Eni has signed an exploration and production sharing agreement for Block A offshore Ras Al Khaimah.


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JAPEX spuds wildcat off Hokkaido, Japan

Japan Exploration Co. Ltd. has spudded an exploratory well 50 km offshore the Hidaka area of Hokkaido, Japan.


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ACG partners approve $6-billion platform

Partners in the Azeri-Chirag-Deepwater Gunashli (ACG) complex in the Caspian Sea offshore Azerbaijan have approved the investment of $6-billion in a new platform able to process as much as 100,000 b/d of oil.


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MARKET WATCH: NYMEX crude for May settles at $64/bbl

Light sweet crude prices on the New York market gained to settle at $64/bbl on Apr. 18, marking the second time in 3 days that the benchmark has reached or broken above that level.


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Port Arthur LNG moves closer to FID with FERC authorization

Port Arthur LNG LLC, a subsidiary of Sempra Energy, received FERC authorization to site, construct, and operate the Sempra-led Port Arthur LNG liquefaction-export facility under development in Jefferson County, Tex., moving the project closer to a final investment decision.   


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ExxonMobil reports 13th discovery offshore Guyana

ExxonMobil Corp. reported a new oil discovery offshore Guyana with the Yellowtail-1 well in Stabroek block, bringing the total discoveries on that block to 13 and adding to an estimated recoverable resource of 5.5 billion boe.


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Gripes about Trump’s pipeline orders don’t speak for ‘the world’

In their gripes about US President Donald Trump’s Apr. 10 executive orders supporting pipeline construction, activists resorted to familiar artfulness.

 


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Surge Energy drills 3.4-mile lateral in Permian basin

Surge Energy US Holdings Co. subsidiary Moss Creek Resources Holdings Inc. reported drilling the Medusa Unit C 28-09 3AH to 24,592 ft TMD (7,102 ft TVD).


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Baker Hughes: US rig count down 10 units to 1,012

The US drilling rig count dropped 10 units to reach 1,012 rigs working for the week ended Apr. 18, according to Baker Hughes data. The count is down 1 unit from the 1,013 rigs working this time a year ago.


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Chrysaor to acquire ConocoPhillips’ UK oil and gas business for $2.675 billion

Chrysaor E&P Ltd. has agreed to purchase the United Kingdom oil and gas business of ConocoPhillips for $2.675 billion, increasing Chrysaor’s pro forma 2018 production to 177,000 boe/d to become one of the largest oil and gas producers in the UK North Sea.


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Tellurian’s Driftwood receives FERC authorization

The US Federal Energy Regulatory Commission has issued the order granting authorization for Tellurian Inc.’s proposed Driftwood LNG export project and an associated pipeline in Louisiana. The project would produce as much as 27.6 million tonnes/year of LNG for export.


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Canada delays Trans Mountain decision

The Canadian government has delayed until June 18 its decision on the contested expansion of the Trans Mountain crude oil and products pipeline between Alberta and British Columbia.


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MARKET WATCH: Crude benchmarks drop despite lower US crude supplies

Light sweet crude prices on the New York market and Brent crude prices on the London market both fell to settle lower Apr. 17 despite the US Energy Information Administration’s weekly inventory report that showed the first weekly decline in US crude supplies in a month.


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Oman-Kuwait JV lets contracts for Duqm refinery

Duqm Refinery & Petrochemical Industries Co. LLC, through contractors, has let two separate contracts to Douglas OHI for work on DRPIC’s  230,000-b/d refinery and petrochemical complex to be built in the Duqm Special Economic Zone in Duqm, Al Wusta Governate, on the southeastern coast of Oman.


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CAPP 'encouraged' by Alberta premier-elect

The Canadian Association of Petroleum Producers greeted the United Conservative Party’s Apr. 16 election victory in Alberta by saying it is “encouraged by Premier-elect Jason Kenney’s commitment to the oil and natural gas industry.”


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Gazpromneft targets West Siberian Achimov

Gazpromneft-Zapolyarye has completed agreements allowing it to start developing Cretaceous Achimov strata in Yamburgskoye oil and gas condensate field and oil-rim deposits in parent Gazprom’s Pestsovoye and En-Yakhinskoye gas fields in the Yamal-Nenets Autonomous Okrug of Russia.


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FERC staff issues final EIS for Gulf Liquefaction LNG project

The proposed Gulf Liquefaction LNG Project would have some adverse environmental impacts which could be reduced to less-than-significant levels if recommended mitigation measures are implemented, the Federal Energy Regulatory Commission’s staff said on Apr. 17 in a final environmental impact statement.


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IOCs recorded high reserve replacement, low F&D costs in 2018, analysis shows

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Santos confirms gas in Corvus field off Western Australia

Corvus field appraisal drilling confirmed more gas resources offshore Western Australia. Drillers reported a 2,093-ft gross interval, one of the largest columns to be discovered on the North West Shelf, said Santos Ltd. of Adelaide.


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Majors scoop up acreage in offshore Argentina bid round

Units of ExxonMobil Corp., Equinor, and Wintershall were among the companies that submitted winning bids in Argentina’s Apr. 16 licensing round—the first open bid round for Argentinean offshore acreage in more than 20 years—where 38 blocks were on offer, 18 of which were licensed.


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Dixit appointed CEO of Cairn Oil & Gas

Ajay Kumar Dixit has been named chief executive officer of Cairn Oil & Gas, part of Vedanta Ltd. based in Gurgaon, India. He succeeds Sudhir Mathur, who has left the company.


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BHP Petroleum plans more appraisal drilling off Mexico

BHP Petroleum plans additional appraisal drilling on Trion block offshore Mexico during this year’s second half, the company said in an operational update. Previously, BHP sold its US shale operations to focus on conventional oil and gas in the US Gulf of Mexico and Australia.


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DOE announces up to $39 million in oil, gas R&D project grants

The US Department of Energy announced up to $39 million in federal funding for cost-shared research and development projects that aim to improve oil and natural gas technologies. Selected projects will fall under two DOE Office of Fossil Energy funding opportunity announcements, DOE said on Apr. 16.


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EIA: US shale production to reach 8.46 million b/d in May

The US Energy Information Administration forecasts crude oil production from seven major shale formations will climb 80,000 b/d in May to a record 8.46 million b/d, EIA said in its Monthly Drilling Productivity Report.


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Colorado’s governor signs Senate Bill 181 into law

Colorado Gov. Jared Polis (D) signed S.B. 181, which imposes new restrictions on oil and gas activities in the state, into law on Apr. 16. The measure was designed to strengthen local governments’ authority over such operations, its sponsors said when they introduced it on Mar. 1.


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EIA: US crude inventories down 1.4 million bbl

US crude oil inventories for the week ended Apr. 12, excluding the Strategic Petroleum Reserve, decreased by 1.4 million bbl from the previous week, data from the US Energy Information Administration showed. At 455.2 million bbl, US crude oil inventories are 2% below the 5-year average for this time of year, the report indicated.


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MARKET WATCH: Brent crude prices approaching $72/bbl

Brent crude oil prices on the London market gained more than 50¢ to settle at $71.72/bbl on Apr. 16 and continued rising Apr. 17 in early trading on concerns about tightening world oil supplies. Crude oil supplies have declined this year with US sanctions on Venezuela and Iran. Meanwhile, major producers, including Russia, also are holding back production.


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Jones Energy files voluntary bankruptcy

Jones Energy Inc. has filed a prepackaged plan of reorganization under Chapter 11 of the US Bankruptcy Code designed to convert to equity all its funded debt. The company said the plan will enable it to maintain operations as usual.


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Watching Government: Licensing professional engineers
A US House Transportation and Infrastructure subcommittee’s Apr. 3 pipeline safety hearing concentrated on conditions creating too much pressure during Columbia Gas of Massachusetts’s replacement of century-old pipes in its Merrimack Valley system near Boston in September 2018. The resulting explosions damaged 40 homes, killed one person, and injured 25 more.
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Energean to develop gas strike off Israel

Energean Oil & Gas plans to develop a natural gas discovery in its deepwater Karish North exploration well offshore Israel. The well, drilled to 4,880 m TD in more than 1,700 m of water by the Stena DrillMAX drillship, encountered a gross hydrocarbon column of up to 249 m with high-quality reservoir in Early Miocene Tamar B and C sands.


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Talos Energy updates Zama appraisal program

Talos Energy Inc. and partners drilled the Zama-2 ST1 appraisal well 589 ft updip of the Zama-2 well and 1.4 miles north of the Zama-1 exploration well offshore Mexico on Block 7 in the Sureste basin. Talos operates Block 7. Partners are Sierra Oil & Gas and Premier Oil.


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NEB approves NGTL’s West Path Delivery project

Canada’s National Energy Board has granted approval to Nova Gas Transmission Ltd.’s (NGTL) West Path Delivery project plan to construct and operate a 21½-km natural gas pipeline, two compressor station unit additions, and related facilities to supply southwest Alberta and connected markets with Western Canadian production.


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BP lets contract for Azerbaijan offshore project

BP Exploration (Caspian Sea) Ltd. has let a contract to Turan Drilling & Engineering Co. LLC, a joint venture of KCA Deutag and Socar AQS, for the operation and maintenance of seven platform drilling rigs, said Turan Drilling, which was formed in July 2018.


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US offshore safety
The US Bureau of Safety and Environmental Enforcement and industry are revising the way each does its work in the Gulf of Mexico, BSEE Director Scott Angelle said during a March visit to Louisiana where he met with BSEE regional staff and others.
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Concho, Frontier create Midland basin midstream joint venture

Concho Resources Inc. and Frontier Midstream Solutions IV LLC have agreed to form Beta Crude Connector LLC (BCC) to build and provide crude oil gathering, transportation, and storage services in the northern Midland basin. Frontier will serve as operator. Each company will own equal equity interest.


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Feed gas introduced into Train 1 at Cameron LNG

Train 1 of the Cameron LNG project in Hackberry, La., has reached the final commissioning stage, marking the transition from construction to startup, said McDermott International Inc. Since the initial award in 2014, McDermott and Chiyoda International Corp., a US subsidiary of Japan’s Chiyoda Corp., have provided the engineering, procurement, and construction for the project.


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EPA’s latest annual US greenhouse gas inventory shows decline

Lower fossil fuel releases are continuing to help drive US greenhouse gas emissions lower, the US Environmental Protection Agency’s latest annual report showed. EPA said 2017’s GHG emissions totaled 6,456.7 million tonnes of carbon dioxide equivalent (tCO2e), or 5,742.6 million tCO2e after accounting for land sequestration.


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BSOG granted approval to develop Ana, Doina gas fields

Black Sea Oil & Gas and its partners will advance the Midia gas development project with approval from the Romanian government through the National Agency for Mineral Resources to develop Ana and Doina natural gas fields offshore Romania in the Black Sea.


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MARKET WATCH: Brent crude for June drops yet holds above $71/bbl

Brent crude oil dropped modestly on the London market Apr. 15 but still settled above $71/bbl following reports of lower Venezuelan and Iranian exports because of US sanctions. Renewed civil unrest in Libya also raised oil supply concerns. Khalifa Haftar’s Libyan National Army continues fighting forces backed by the internationally recognized Libyan government.


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Ukraine launches tender offering for Dolphin block in Black Sea

The Ukrainian government has launched a public tender for the Dolphin offshore block under a production-sharing agreement, covering 9,496 sq km of the northwestern part of the Black Sea’s continental shelf.


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