Oil & Gas News

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Lagging Gas Storage Finally Triggers Market Reaction

Industry Headlines

Big Oil Reuses Platforms in Latest Cost-Cutting Trick
Thursday, November 15, 2018 Oil companies have pushed through draconian cost cuts during the recent industry slump, but they're not quite done yet.

The Market is Overreacting
Thursday, November 15, 2018 The market is overreacting, according to Nasdaq IR Intelligence Energy Director Tamar Essner.

Crude Oil Up and Gas Continues Wild Ride
Thursday, November 15, 2018 Crude oil futures continued to recover Thursday while natural gas' robust rally reversed course.

Crude Oil Recovers and Natural Gas Roars
Wednesday, November 14, 2018 One day after tumbling more than 7%, the December WTI crude oil futures price recovered slightly.

Mexico's CNH President Turns in Resignation
Wednesday, November 14, 2018 Juan Carlos Zepeda Molina, president of the National Hydrocarbons Commission of Mexico will leave the office in December.

IEA Welcomes Return of Oil Surplus
Wednesday, November 14, 2018 The IEA welcomes the oil market's return to surplus.

How Will Oil's Freefall End?
Wednesday, November 14, 2018 Oil's record losing streak has plunged prices into a bear market and is reverberating around the globe.

Oil Trades Near $56
Thursday, November 15, 2018 Oil traded near $56 a barrel after snapping a record losing streak.

Oil's Collapse Deepens
Wednesday, November 14, 2018 Oil showed little sign of recovering from its unprecedented decline.


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Exploration

Strong Interest in Latest UK Licensing Round
Wednesday, November 14, 2018 The UK's latest offshore licensing round has attracted 36 applications covering 164 blocks.

Less Appetite for Exploration Drilling
Monday, November 12, 2018 There's less appetite for exploration drilling, according to Rystad Energy.

US Adds 12 Oil Rigs This Week
Friday, November 09, 2018 The United States has added rigs four out of the last five weeks.

Croatia Launches Second Onshore License Round
Wednesday, November 07, 2018 Croatia launches its second onshore licensing round.

Eni and Lukoil Form Offshore Mexico JVs
Tuesday, November 06, 2018 Eni and Lukoil have signed a farm-out deal to transfer participating interests in three shallow-water exploration licenses offshore Mexico, Eni reported.

Shell Seeks Land Rig for Caribbean Campaign
Monday, November 05, 2018 Shell is requesting expressions of interest to provide a rig to drill two land wells in Trinidad planned for November 2019.


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Production

Offshore Mexico Contract Goes to McDermott
Thursday, November 15, 2018 A McDermott-BHGE joint venture will perform concept and engineering services for the Zama field development project.

First Gas from Karish-Tanin Development On Track
Thursday, November 15, 2018 Energean Oil and Gas plc is on track to deliver first gas from its 2.4 trillion cubic feet Karish and Tanin development offshore Israel.

OPEC+ Said to Weigh Bigger Production Cut
Thursday, November 15, 2018 OPEC+ is considering cutting oil output by more than the 1 million barrels a day Saudi Arabia proposed earlier this week, according to people familiar with the matter.

US Crude Production to Hit Record 7.94 MMbpd in December
Wednesday, November 14, 2018 The US EIA projects record crude oil production in December.

ADNOC Invests $1.4B in Bu Hasa Field
Wednesday, November 14, 2018 ADNOC announces a $1.4 billion investment to upgrade and expand its Bu Hasa field.

NOPEC to Take Gloves Off, Production Cuts In 2019?
Wednesday, November 14, 2018 OPEC, in cooperation with Russia, are currently discussing the option to put another production cut in place.

Saudis See Need for Producers to Cut 1MM Barrels
Monday, November 12, 2018 Saudi Arabia expresses the need for oil producers to cut 1 million barrels a day from October levels.


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Finance and Investing

Drop in Crude to Test Big Oil's Devotion to Spending Discipline
Wednesday, November 14, 2018 The world's biggest oil companies have been saying that by keeping a tight rein on spending today, they'll be fortified against the next crude-price collapse.

Gastar Exploration Files for Chapter 11 Bankruptcy
Monday, October 29, 2018 The pure play Mid-continent energy company has entered into a restricting support agreement with its largest creditor and shareholder.

Private Equity Needs Long-Term Approach to Cash in on Shale
Monday, October 22, 2018 For private equity, the game plan for cashing in on the U.S. shale boom is shifting from quick flips to long-term commitments, according to one veteran energy investor.

Aramco Is Not Alone as Saudi Arabia's Privatization Push Slows
Thursday, September 20, 2018 Aramco may have grabbed the biggest headlines, but the oil giant's delayed initial public offering is just the latest sign of Saudi Arabia's slowing privatization push.

Qatar Calls For Increased Investment In Oil And Gas Markets
Thursday, September 06, 2018 Qatar's energy minister calls for oil-producing countries to boost investment in the oil and gas sector given a recovery in the price of oil.

Weatherford CEO Expects 2018 EBITDA To Nearly Double
Wednesday, September 05, 2018 Weatherford International's full-year earnings before expenses will nearly double from last year, CEO Mark McCollum says.


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Company Operations

Pioneer to Move to All West Texas Sand in 2019
Thursday, November 15, 2018 Pioneer Natural Resources is closing a sand mine in Central Texas as the company transitions proppant supply to West Texas sand sources.

Suncor Energy CEO to Retire Next Year
Thursday, November 15, 2018 Suncor's COO Mark Little will assume the role of CEO after Steve Williams retires in May.

Chevron Wellhead Deal Goes to TechnipFMC
Wednesday, November 14, 2018 TechnipFMC signs a surface technologies frame agreement with Chevron.

University Launches Growth Program for Energy Firms
Wednesday, November 14, 2018 Robert Gordon University is launching a program to support businesses within the energy sector to accelerate their growth.

Kazakhstan Wellhead Megaproject Gets Design
Tuesday, November 13, 2018 Fluor and others have developed one of the world's largest single 3D intelligent plant design models.

Pioneer Sells Pressure Pumping Assets to Midland Company
Tuesday, November 13, 2018 Pioneer Natural Resources is selling the assets to Midland, TX-based oilfield services company ProPetro for $400MM.

Halliburton Gets Second CFO in 17 Months
Tuesday, November 13, 2018 Halliburton reported Monday that it has promoted Lance Loeffler to CFO.

Wood Wins Mega Project Services Deal
Tuesday, November 13, 2018 Wood secures multi-million dollar contract extension from ADNOC Offshore.


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