Hess Corp. recorded a US$509 million loss in Q1, in addition to a 34% drop in its revenue. Image from Hess. The loss is much wider than the Q1 2015 loss of $389 million. The decrease…
Byron Energy will further its efforts at the SM71-1 well in the Gulf of Mexico after encountering the presence of oil in three intervals, according to partner Otto Energy. A quad combo porosity logging run has been acquired and 7 5/8in…
Oil services giant Schlumberger entered into an agreement to acquire the coiled tubing drilling and coiled tubing units from Xtreme Drilling and Coil Services Corp., a Calgary-based provider of international land drilling and coiled tubing drilling services…
Mubadala Petroleum encountered oil at two wells in the Manora field, offshore Thailand. Map from Mubadala. The Atwood Orca jackup drilled wells MNA-15 and MNA-16 wells to final total depths of 2566m and 2998m…
Amec Foster Wheeler has appointed Halliburton's senior vice president, Dr. Jonathan (Jon) Lewis, as its new chief executive officer, with effect from 1 June 2016. On the same day Ian McHoul will cease to be interim CEO, and will remain as CFO…
A new report from DNV GL paints a very automated future for many oil and gas processes and sectors. Melissa Sustaita sets out the details. Sames. Image from OE staff. Over the…
Aker Solutions and ABB have agreed to work together on subsea processing solutions, bringing together their strengths in subsea, power and automation technologies. The cooperation will integrate Aker Solutions' subsea capabilities and…
Norway-based accommodation vessel provider Prosafe is to scrap three of its oldest vessels and start cold stacking others, the firm said this morning, citing a continued deterioration in the offshore oil services market following the oil price decline…
Vericor Power Systems has developed a new version of the TF Series gas turbine, for pump, compression and portable power generation applications. Rated at over 5000 hp, the TF50F gas turbine is changing the process of hydraulic fracturing…
Ireland’s Lansdowne Oil & Gas has failed to farm out of two licenses off the south coast of Ireland, due to industry conditions that will prevent drilling at the prospects. “Due to adverse industry conditions, attempts to farm-out SEL 5/07…
Bell Geospace’s Houston team is being expanded in response to increased activity in their specialist services. As well as a number of in-house support staff, Richard Alan Morgan has joined the company as senior geoscientist. Morgan has…
Maersk Oil has awarded Datum360 a four-year contract to implement Software as a Service (SaaS) solutions for the Culzean development in the UK North Sea. The key component of the solution, PIM360, will be at the centre of Culzean’s engineering data management…
PACC Offshore Services Holdings (POSH) has been awarded long term charters for eight offshore supply vessels with a combined value of approximately US$167.5 million by a Middle Eastern national oil company. POSH will supply eight anchor-handling…
Oil major BP has posted a replacement cost loss of US$485 million in Q1 2016, compared with a profit of $2.1 billion a year ago, as it battles the continuing low oil prices. Yet, the firm is set to see production levels lifted as a string of new projects come onstream through 2016-2017…
Tullow Oil is eying exploration leads offshore Mauritania in order to fulfill a minimum work obligation of one well on the block before the second exploration phase runs out in November 2017. Image from Tullow…