Business is good in the oilfield, and as increased production and steady commodity prices contribute an influx of cash, operators are reinvesting in themselves, expanding their share buyback programs. Management usually says that…
Cooper Energy Ltd. announced that the Elliston-2 oil development located in PPL 249 on the western flank of Cooper basin in South Australia, spudded and of 22 July, the rig was drilling a 12 ¼ in. hole at 162m. Elliston-2, a vertical well located 250m south-southwest of Elliston-1…
Houston-based EFC Group appointed Anand Puthran as its managing director, a newly created role for the company. Puthran joins EFC Group with more than 15 years of experience working in the oil and gas industry in managerial positions…
Wood Group has boosted its Norwegian offshore engineering capability by buying Agility Projects from Agility Group for about US$164 million. Agility Projects is a Norwegian engineering, procurement, construction management, installation and commissioning company…
Malaysia's Sumatec Resources Bhd plans to buy Kazakhstan's Borneo Energy Oil and Gas Ltd. for US$250million (RM800million) in cash and shares. Sumatec announced on 11 July 2014 that it had signed a framework agreement with Abu Talib Abdul Rahman and Dr…
Canada’s SNC-Lavalin has agreed to buy Jersey-based oil and gas services company Kentz Corporation in a deal valuing the Kentz at £1.2 billion (C$2.1 billion). SNC-Lavalin said the move was part of its strategy to become a global Tier-1 engineering and construction company…
Royal Dutch Shell is selling a major portion of its stake in Australia's Woodside Petroleum Ltd., raising AU$5.7billion. Shell is selling 9.5% back to Woodside, and another 9.5% to institutional investors, at a small discount to the closing share price on 16 June 2014…
Maersk Oil UK has awarded Denmark's Ramboll Oil & Gas the detailed design for the Culzean wellhead jacket. The project will be Ramboll’s first major involvement in the Culzean field, and it also marks the largest substructure design by Ramboll for the North Sea…
Statoil will pay COSL Offshore Management (COM) a one-time settlement of US$65 million under an agreement reached today that ends disputes related to the stand-by fees of two semisubmersible platforms. The stand-by fees stemmed from the installation of third-party equipment…
With June 1 marking the beginning of the 2014 Atlantic hurricane season, preparation efforts in the US Gulf of Mexico are a necessity for operators such as BP. BP, which operates four developments (Atlantis, Thunder Horse, Mad Dog, and Na Kika) located approximately 140-190mi…
Deep Sea Supply has agreed a deal to buy 10 platform support vessels (PSVs) for US$366 million. The move will increase the firm's fleet from 30 to 40 vessels. Deep Sea Supply says the 10 PSVs will achieve attractive cash break even rates…
Singapore-based marine and offshore engineering firm Sembcorp Marine has agreed entered to buy a 12% stake in Norwegian firm GraviFloat for US$4 million, with a right to increase its stake up to 20%. GraviFloat was formed to design, deliver and operate re-deployable…
Calgary-based Sterling Resources issued its 1Q results today, reporting US$20.5million revenue attributable to production from the Breagh gas field in the UK North Sea, and expenses of $2.6 million during the quarter. The average expected…
UK plate and specialty metals supplier Murray Metals (MM) has bought Alphastrut, giving it a foothold in the offshore oil an dgas industry. Alphastrut offers an aluminium support and cable containment system which MM says is more than…
OAO Yamal LNG closed on a contract to supply China National Petroleum Corporation (CNPC) 3mtpa LNG annually for 20 years from the Yamal LNG project in the Russian Arctic, according to Yamal LNG majority shareholder OAO Novatek. CNPC bought…
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