Oil And Gas Industry News

The latest upstream oil and gas news from around the world.

Whiting Petroleum Profit Beats As Bakken Production Surges

Whiting Petroleum posts a better than expected quarterly profit as oil and natural gas production jumped across the company s wells in North Dakota and Colorado s shale formations

Oil Prices Tumble On Ample Supply Weak Demand

Oil prices tumble with Brent leading the decline weakened by excess supplies in Europe and Asia

Cyprus Offshore Gas Drilling To Start Before Fall

Cyprus energy minister says that exploratory drilling in the first of six potential gas fields off the east Mediterranean island s coast is slated to begin before the end of summer

Russia s Rosneft North Atlantic Drilling In 4 25B Drilling Deal

Rosneft and North Atlantic Drilling enter a drilling agreement worth up to 4 25B in line with a previous agreement and despite Western sanctions over Moscow s role in Ukraine

Shell s Pearl GTL The Largest Gas To Liquids Plant In The World

As well as being the biggest Pearl GTL is also one of the most complex and challenging energy projects in the world

IWCF Launches Online Well Life Cycle Course

The International Well Control Forum is urging the oil and gas industry to improve sector workers basic knowledge of well control as it launches an online course

Wolfcamp CAPEX Spending to Exceed 12B in 2014

Wood Mackenzie estimates that capital spending in the Wolfcamp tight oil play will exceed 12 billion this year

Hess To Form MLP For North Dakota Oil Gas Transport Assets

Hess says it will form an MLP for its North Dakota oil and natural gas storage facilities and processing plants taking advantage of a key financial trend in the energy sector to generate cash

Tullow Sinks into Red but Confident Africa Strategy Will Pay Off

Tullow drifts into the red after writing off more than 400 million in exploration costs

Norway s Gassco Delays Major Gas Maintenance by 1 Day

Norwegian gas system operator Gassco will start a round of maintenance work one day later than planned

Total Stops Buying Novatek Shares After MH17 Shot Down

France s Total stops buying shares in Novatek but says it is still too early to gauge the impact of western sanctions against Russia

Cenovus Profit Triples as Oil Sands Production Jumps

Canada s number two independent oil producer Cenovus sees second quarter profit more than treble

President Takes 100 Ownership of Puesto Guardian Fields

President Energy agrees to pay 6 9 million for the 50 percent stake in Argentina s Puesto Guardian concession that it does not already own

Beach Finds Non Commercial Oil at PEL 249 s Elliston 2 Well in Cooper Basin

Beach Energy plugs and abandons Elliston 2 well in PPL 249 in Cooper Basin South Australia as it was deemed non commercial to complete as an oil producer

NZEC Receives Copper Moki Mining Permit in New Zealand s Taranaki Basin

New Zealand Energy Corp receives the Copper Moki Mining Permit PEP 55491 in New Zealand s Taranaki Basin

Icon to Commence Hydraulic Stimulation at Queensland s ATP 855 in September

Icon Energy announces that hydraulic stimulation and testing program for ATP 855 in Queensland Australia will commence in early September

Interra Spuds CHK 1191 Development Well in Myanmar s Chauk Oil Field

Interra Resources spuds development well CHK 1191 in the Chauk oil field in Myanmar

BAM Clough JV Completes Design Construction Contract for Ichthys Project

BAM Clough Joint Venture completes the design and construction contract of a module offloading facility for the Ichthys liquefied natural gas project near Darwin Northern Territory Australia

Tellus Gets Report on Prospective Oil Resources in Madagascar s Block 3114

Tellus Resources receives report from MHA Petroleum Consultants on the prospective oil resources in Block 3114 Madagascar

Gas2Grid Seeks Farminee to Fund Malolos Oil Field Appraisal Development

Gas2Grid seeks a farminee to fund field appraisal and development of the Malolos oil field in Service Contract 44 in Cebu the Philippines

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