An underlying growth in global supply capacity, which is significantly outstripping demand, may mean that the world has now passed the peak price for oil, a report commissioned by Gaffney, Cline and Associates (GCA) suggests. The report…
Subsea 7 has been awarded a US$50-100 million contract by Royal Dutch Shell (Shell) for installation work in the Gulf of Mexico. The scope of work involves the installation of 27 mi. of 8 in. flowlines and steel catenary risers (SCRs)…
Workers involved in the deadly accident at Fieldwood Energy’s Echo platform at West Delta 105 on Thursday, worked for contractors conducting routine maintenance on the platform, according to the US Bureau of Environmental Enforcement (BSEE)…
The oil industry was only just coming to terms with Halliburton's offer for Baker Hughes when Technip revealed it had made an offer, albeit rebuffed, for CGG yesterday (20 November). Colin Welsh, CEO at energy corporate advisory firm Simmons & Company…
Norway-based subsea contractor Ocean Installer has been awarded a contract for an umbilical installation project with Oceaneering for LLOG on the Delta House project in the Mississippi Canyon Area of the US Gulf of Mexico. The project…
One person is dead and three are injured after an explosion at Fieldwood Energy's Echo Platform at West Delta 105 in the US Gulf of Mexico. The Bureau of Safety and Environmental Enforcement (BSEE) said it is currently responding to the incident in cooperation with the US Coast Guard…
Logan Oil Tools, a wholly owned subsidiary of Logan International, has purchased certain assets from Smith International. The assets include inventory, the rights to manufacture and sell HE fishing tools and certain intellectual property…
SeaBird Exploration Plc received a letter of award (LOA) from TGS-NOPEC Geophysical Co. (TGS) to acquire up to 300,000km of 2D seismic data offshore Mexico and in the US Atlantic. The survey will cover a minimum of 150,000km and up to 300…
The board of directors for Mexico’s Petroleos Mexicanos (Pemex) approved a corporate restructuring plan that would see the company reorganize into two main units and five smaller subsidiaries. The national oil company said that the plan was…
Two new studies released today by the National Ocean Industries Association (NOIA) and the American Petroleum Institute (API) show significant potential added energy and economic benefits to the US if the eastern Gulf of Mexico and the Pacific…
Engineering services firm Wood Group PSN (WGPSN) has been awarded a multi-million dollar contract extension for services on the Hibernia platform, offshore Newfoundland and Labrador. WGPSN is providing engineering, procurement and construction on Hibernia…
Speaking at Tuesday's 2014 Deloitte Oil & Gas Conference in Houston, former Petroleos Mexicanos (Pemex) CEO Dr. Jesus Reyes-Heroles weighed in on the country's historic energy reform. Reyes-Heroles said that he expects the Mexican energy reform to impact the GDP by 4…
Hess Corp. began production from the Tubular Bells field, located in the Mississippi Canyon area of the deepwater Gulf of Mexico. The Tubular Bells floating production facility. From Hess…
Halliburton and rival Baker Hughes have agreed to merge in a deal worth US$34.6 billion in stock and cash. Significant synergy opportunities graph from Halliburton. According to Halliburton…
Houston-based Paragon Offshore has launched a bid to take over Prospector Offshore Drilling by buying 55.8% of the Oslo stock market-listed drilling firm's stock. Paragon, which spun out of Noble Corporation in August this year, said…
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