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Analyst: New Pipeline in Mexico to Help Relieve Permian Bottleneck

Industry Headlines

Texas Continues Trend of Upstream Job Growth
Friday, July 20, 2018 Data from the Texas Workforce Commission (TWC) reveals 19 consecutive months of upstream job growth.

Report: Fewer M&A Deals in 1H 2018, but Higher Value
Friday, July 20, 2018 Though the number of deals in the Energy, Mining and Utilities sector were fewer in the first half of the year, overall deal value trickled up.

Largest Unconventional Shale Producer in Permian Basin Created
Friday, July 20, 2018 Concho Resources Inc completes its acquisition of RSP Permian Inc, creating the largest unconventional shale producer in the Permian Basin.

After Pumping More Oil for Trump, Saudis Doubt if it's Needed
Friday, July 20, 2018 Under pressure from U.S. President Donald Trump, Saudi Arabia has rushed to boost oil production, only to discover that global markets might not yet need it.

Oil Strengthens As Dollar Slips To Four-Day Low
Friday, July 20, 2018 Oil prices rose as a weakening dollar and lower expected August crude exports from Saudi Arabia supported the market.

UPDATE: Norway Oil Workers And Employers Agree Deal, Strike Ends
Thursday, July 19, 2018 Owners of Norwegian oil rigs are considering imposing a lockout on workers as a high-stakes gamble to try to end a strike by almost 1,600 staff that began last week.

BLOG: Industry Debates I'm Tired of Already
Thursday, July 19, 2018 Differing opinions have been the cause for many industry debates.

Brent Slips As Focus Returns To Oversupply
Thursday, July 19, 2018 Global benchmark Brent crude dipped as concerns about mounting supply returned after a brief rally earlier in the session.


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Exploration

Transocean Secures 13 Well UK North Sea Contract with ConocoPhillips
Tuesday, July 17, 2018 The midwater semi-submersible Transocean 712 has been awarded a 13 well UK North Sea contract by ConocoPhillips.

US Drillers Leave Oil Rig Count Unchanged -Baker Hughes
Friday, July 13, 2018 U.S. energy companies left the oil rig count unchanged this week as the rate of growth has slowed over the past month or so.

Carnarvon: Presence of Hydrocarbons Indicated at Dorado-1 Well
Friday, July 13, 2018 The presence of hydrocarbons has been indicated at the Dorado-1 well offshore Australia, Carnarvon Petroleum Limited says.

Norway's Aker BP Misses Q2 Forecasts, Ups Exploration Spending
Friday, July 13, 2018 Aker BP will increase its exploration spending plan this year due to new prospects off Norway, the oil firm says.

Industry is 'Fit', 'Ready' for New North Sea Exploration Era
Wednesday, July 11, 2018 Industry is 'fit and ready' to usher in a new era of exploration in the North Sea, according to Oil & Gas UK's upstream policy director Mike Tholen.

Savannah Makes 3rd Consecutive Discovery in Niger
Wednesday, July 11, 2018 Savannah Petroleum plc announces its third consecutive discovery in its maiden exploration campaign in the R3 portion of the R3/R4 PSC Area in the Agadem Rift Basin.


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Production

New Initiative 'Could Help Unlock' Over 3.5B Barrels in UKCS
Friday, July 20, 2018 The OGTC launches an industry-backed initiative, which it says could help unlock more than 3.5 billion barrels of reserves in marginal discoveries on the UK Continental Shelf.

Saudi Arabia Says It Won't Oversupply Global Oil Market
Thursday, July 19, 2018 Saudi Arabia rejected concerns that it's planning to oversupply global oil markets and said it will actually trim crude exports next month.

US Crude Oil Output Hits 11 Million bpd For First Time Ever
Wednesday, July 18, 2018 US crude oil production last week hit 11 million barrels per day (bpd) for the first time in the nation's history.

Security Issues Continue to Plague Libya's Oil-Supply Growth
Wednesday, July 18, 2018 Just as Libya resumes oil exports from recently shuttered ports, an attack on its largest field is setting back progress yet again.

OGA: UKCS Production Efficiency Improves for 5th Straight Year
Tuesday, July 17, 2018 Production efficiency on the UK Continental Shelf has improved for the 5th consecutive year, according to a new report released by the Oil and Gas Authority.

SNC-Lavalin Wins Five-year Contract from Saudi-Kuwait Firm
Monday, July 16, 2018 Canada-based SNC-Lavalin will provide general engineering services under latest framework deal.


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Finance and Investing

Azeri Oil Fund SOFAZ Reports 9% Rise In Assets To $38.04B
Tuesday, July 17, 2018 Azerbaijan's state oil fund SOFAZ says its assets rose by more than 9% year on year to $38.04 billion as of July 1.

Russian Lawmakers Approve Profit-Based Taxation For Oil Production
Thursday, July 05, 2018 The lower house of Russian parliament on Thursday approves in the third and final reading the new, profit-based, taxation for a limited number of oilfields.

EBRD Set To Approve TAP Loan In Boost For Developers -Sources
Wednesday, July 04, 2018 A major European development bank is likely to approve a loan for the Trans-Adriatic Pipeline (TAP) gas project on Wednesday, sources say.

Rig Firm Fred. Olsen Energy Fails To Win Waiver Extension
Monday, July 02, 2018 The creditors of Oslo-listed Fred. Olsen Energy did not agree to extend a waiver to some of the company's financial covenants that expired on Saturday, the Norwegian drilling rig contractor says.

Santos Set To Resume Dividends Earlier Than Expected, Shares Rise
Thursday, June 28, 2018 Australia's Santos Ltd says it will resume its dividend payment policy earlier than expected.

Equity Ramping Up to Target Unconventional Plays Including the Permian
Wednesday, June 20, 2018 Despite bottleneck woes, investors are opening their wallets for the latest wave of unconventional fever and the Permian in particular.


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Company Operations

Baker Hughes: US Drillers Cut Rigs By Most Since March This Week
Friday, July 20, 2018 US energy companies this week cut oil rigs by the most in a week since March.

Schlumberger, Baker Hughes Set Sights on 'Healthy' 2H
Friday, July 20, 2018 Schlumberger and Baker Hughes have their sights set in different directions as they move into the second-half of 2018.

US Drilling Companies Announce Merger Agreement
Friday, July 20, 2018 Independence Contract Drilling Inc. and Sidewinder Drilling LLC have entered into a definitive merger agreement.

BGP Secures $1.6B ADNOC Seismic Survey Work
Thursday, July 19, 2018 ADNOC awards contracts worth $1.6 billion to a China National Petroleum Company (CNPC) affiliate for 'the world's largest continuous 3D onshore and offshore seismic survey'.

BP Named One of Best Employers for LGBT Staff
Thursday, July 19, 2018 BP plc has been named on Stonewall's list of the best multinational employers for lesbian, gay, bi and trans (LGBT) staff.

Tullow Oil To Shoulder Kosmos' $65MM Burden Over Ghana Rig Dispute
Wednesday, July 18, 2018 Tullow Oil has to cover nearly $65 million of costs linked to a canceled rig contract in Ghana.

BHP: Exit Process for Onshore US Assets Progressing to Plan
Wednesday, July 18, 2018 BHP says the exit process for its onshore US assets is 'progressing to plan'.

Wood Appoints Chief Technology Officer
Tuesday, July 17, 2018 Wood appoints Darren Martin as its chief technology officer, a newly created role within the company.


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