With West Texas Intermediate trading at US$60.13/bbl and NYME natural gas set at $2.94/MMBtu, hydrocarbon producers are looking for ways and means to survive the low price environment. Some of those that are best weathering the storm are those that made specific choices before the fall…
TGS is to acquire up to 30,000km of seismic data through two new multi-client 2D surveys offshore Eastern Canada. Both surveys are in partnership with PGS, using two vessels during the 2015 acquisition season. The M/V Atlantic Explorer…
At this week’s Offshore Technology Conference (OTC) in Houston, DNV GL revealed a study that analyzes current regulatory regimes, outlining possible future developments and DNV GL’s recommendations to reduce the risk of major accidents. Safety model…
Lloyd’s Register Energy is inviting companies from America, Canada and Brazil to take part of a joint industry project (JIP) focusing on additive manufacturing at this week's Offshore Technology Conference (OTC) in Houston. Additive manufacturing…
UK-based international oilfield services company Expro has won a four-year, US$45 million contract offshore Canada with Statoil in the Flemish Pass Basin. The contract, which includes options for two one-year extensions, will include…
Jeannie Stell looks at offshore heavy oil development economics with an eye on the current low-price environment. ExxonMobil expects its 52-well Hebron development project offshore Newfoundland to bring in first oil in 2017…
Global investment in renewable energy reached record levels in 2014, including the record-breaking US$3.8 billion financing of the largest ever renewable energy plant, a Dutch wind farm project, a new report has shown. Image from Siemens…
Talisman Energy shareholders approved Spain’s Repsol to take over the Canadian company for an estimated US$8.3 billion. Image from Repsol. In an overwhelming vote of more than 99%…
Return To Scene has won its first contract for the R2S photographic capture in Canada via Canadian distributor NSB Energy. Work on the contract, worth about US$ 800,000, has already started, said the firm. Return To Scene’s innovative…
Workers at the Hibernia gravity-based offshore oil platform, represented by Canadian union Unifor, have voted to accept a new collective agreement with their employer. The new agreement includes improvements in wages, benefits and working conditions including for temporary employees…
Woodside advises that it has finalized an agreement with BP to farm in to offshore blocks in the Scotian basin, off the coast of Nova Scotia, Canada. BP accepted Woodside’s offer to acquire a 20% participating interest in exploration licenses 2431…
Chevron has said it is canceling plans to drill for oil in the Beaufort Sea in Canada's Arctic because of economic uncertainty in the industry as oil prices fall. Beaufort Sea map. From Chevron. The…
Spain's Repsol has agreed a deal to buy Canadian exploration and production company Talisman Energy for US$8.3 billion plus debt - amounting to the largest international deal by a Spanish company in five years. The deal, which had been rumored for some months…
Newfoundland and Labrador’s latest exploration licensing round has resulted in a $559 million bid led by ExxonMobil – the largest bid in the province’s history for a single parcel. ExxonMobil bid as part of a consortium with Canada’s…
Australia’s Woodside Petroleum will purchase Houston-based Apache’s interest in two LNG projects, Wheatstone and Kitimat LNG (pictured, right) for approximately US$2.75 billion. Apache announced in late July that it would exit the two…
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