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Industry News
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Platt Survey: OPEC Output Down for AprilThe 13 members of the Organization of Petroleum Exporting Countries (OPEC) pumped an average 31.87 million barrels per day (b/d) of crude oil in April, a 350,000 b/d decrease from March.
Chevron Trimming Ranks In Reorg; Cuts Mostly InternationalChevron said about 1,100 employees were eligible for severance payments at the end of the first quarter, after the company eliminated the positions as part of a restructuring and reorganization plan.
Norway's PSA to Review AoC SchemeIn identical letters sent to relevant players on the Norwegian shelf, the PSA has suggested re-establishment of the working group on the Acknowledgement of Consent scheme.
Boots & Coots Teams Up with HSE IntegratedHSE Integrated and Boots & Coots International Well Control have signed an agreement to create a jointly owned company to provide oilfield safety services in the oil and gas producing regions of the continental United States.
Deep Down Receives Order for Custom Buoyancy SolutionDeep Down reports that Flotation Technologies received a contract award for a unique, custom-designed riser buoyancy solution from an international energy company.
BPZ Spuds Another Corvina WellBPZ Resources has spud the CX11-20XD Corvina well. The Corvina field is in the Company's offshore Block Z-1 located in northwest Peru.
Talisman Gets OK to Drill Wildcat in Block 15/12 Offshore NorwayThe Norwegian Petroleum Directorate has granted Talisman Energy Norge AS a drilling permit for well 15/12-20 S in the North Sea.
North West Shelf LNG Confirms Sales Agreement with Osaka GasThe North West Shelf LNG Venture has agreed to supply Osaka Gas around 0.5 million tonnes of LNG a year starting in April 2009 for six years on an ex-ship basis.
Canadian Natural Resources Announces 2008 Q1 ResultsCanadian Natural's Chairman, Allan Markin stated, "It has been a good start to the year for Canadian Natural. We completed our winter drilling program in advance of spring break-up, meeting our targets."
Maui JV Partners Firm Up ReservesThe Maui joint venture parties have firmed 62 PJ of Maui natural gas from P50 reserves to P85 reserves.
Williams Inks $285M Natural Gas Deal in Piceance BasinWilliams has agreed to purchase SandRidge Energy's and other parties' interests in Colorado's Piceance Basin for approximately $285 million. The assets could represent more than 1.9 trillion cubic feet equivalent of probable and possible reserves.
Libya to Reassess Italy Oil Deals Amid Government RowLibya is reassessing some of its oil deals with Eni as tensions mount between the two nations following the new Italian government's high-level appointment of a right-wing politician who has angered the North African country in recent years.
RXT Releases Q1 Results for 2008EBITDA for the quarter was USD 4.0 million, compared to 14.4 million in Q4 2007 and minus 3.5 million in Q1 2007. Revenues were USD 31.6 million compared to 36 million in Q4 2007 and 8.4 million in Q1 2007.
Lansdowne Completes Celtic Sea Seismic SurveyLansdowne Oil & Gas says its 2D seismic acquisition program on
License 5/08, in the Celtic Sea, offshore Ireland has been successfully completed.
ONGC Keeps Offshore Insurance at $29MONGC has successfully placed its Offshore Package Insurance Policy, one of the largest insurance policies obtained by any Indian company, at an annual gross premium of approximately US$ 29.025 million, exclusive of Service Tax.
NOPSA Cites Safety Concerns on Four Vanguard FPSOAustralia's NOPSA issued a Prohibition Notice preventing FPSO Management Pty from using the process plant on the Four Vanguard until safety issues are resolved.
Survey Says Execs Believe Oil Will Fall Below $100Oil and Gas executives say that the price-per-barrel of oil will drop significantly from the current high level by the end of the year, according to the results of a survey conducted by KPMG LLP's Global Energy Institute.
Oceanteam Provides Interim 1Q08 UpdateOceanteam says with recent investments recruiting and training personnel it is well positioned for managing a steadily increasing number of commercial projects.
DryShips Purchases More Ocean Rig SharesDryShips Inc. has purchased 7,546,668 shares in Ocean Rig ASA at a price of NOK 45 per share.
VAALCO Plans Major Exploration, Contracts 2 Rigs Offshore GabonVAALCO's exploration program, which includes seven exploration wells over the next 12-18 months, will expose the company to in excess of 50 million net barrels, representing an 8-fold potential increase in reserves.
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