Otto Energy has announced that it has entered into an agreement with Byron Energy for the staged farm-in for participating interests in to up to three lease areas held by Byron in the Louisiana Gulf of Mexico (GOM) area. The transaction…
Chevron is planning a 24% reduction in its 2016 capital and exploratory investment program to US$26.6 billion, compared to 2015’s $35 billion. Chevron's Big Foot in the GoM. Image from Chevron…
Houston-based BOP Technologies announced a new approach to allow a BOP to work even if the drilling rig loses power or hydraulic pressure. The company calls it 'a huge step' toward making BOPs the last line of defense in case of a blowout…
It goes without saying that Art Berman with Labryrinth Consulting Services has a belief about oil prices that is likely not shared by many in the oil and gas industry: Berman believes the prices should be lower. “Prices have to fall further…
Noble Energy revealed a 15,000 boe/d increase in its Q4 2015 sales volumes for both offshore and onshore fields to an estimated 405,000-415,000 boe/d. Map of Noble's Gulf of Mexico assets. Image from Noble…
Electromagnetic Geoservices (EMGS) announces that the company has entered into a data licensing agreement with an international oil company for the provision of 3D EM data from the multi-client data library over the Daybreak project located in the western US Gulf of Mexico worth a total of US$1…
US-based Freeport-McMoRan (FCX) is cutting two vessels in the Gulf of Mexico in an effort to defer investments in several of the company’s long-term projects due to the oil and gas market slump. Image from FCX…
Houston-based Helix Energy Solutions and Jurong Shipyard entered into a second amendment to delay the construction of Helix’s Q7000 newbuild semisubmersible well intervention vessel. Image from Helix Energy Solutions…
The US Bureau of Safety and Environmental Enforcement (BSEE) will launch a pilot risk-based inspection program for offshore facilities, the agency announced on 7 December. “By focusing on facilities based upon their risk factors, BSEE…
TAM International has appointed Tim Davis global technical director for TAM, overseeing global technical support for operations, training, product line management, and marketing. Image: Tim Davis…
SeaBird Exploration has announced that Northern Explorer has been commissioned for work in the greater Caribbean area and will leave the TGS Gigante survey in the beginning of January 2016 for an estimated 6-8 weeks. Phase one of the survey…
Transocean announced that the harsh environment semisubmersible Henry Goodrich was awarded a two-year contract with Husky Oil Operations offshore Canada at a dayrate of US$275,000. The rig will be used for ongoing development drilling…
Houston-based Vantage Drilling’s subsidiary Offshore Group Investment Ltd. (OGIL) filed for bankruptcy last week, in a debt-for-equity deal that will result in a reduced debt of about US$1.45 billion. The Titanium Explorer…
Fluor Corp. and Stork has announced that Fluor has signed an agreement with UK-based private equity firm Arle Capital Partners to acquire 100% of Stork Holding B.V., based in the Netherlands, for an investment of approximately US$755 million (€695 million)…
Image from IOG. Murphy Oil encountered hydrocarbon pay at its Thunder Bird sidetrack well in the Gulf of Mexico, but has decided to plug and abandon the well, due to the low oil price environment…
Subscribe
