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BP released its 2018 Energy Outlook Tuesday, this year extending its projections out five additional years to 2040. BP’s 2018 Outlook’s findings are tied to what it labels ‘the energy transition’. “The speed of the energy transition is uncertain and the new Outlook considers a range of scenarios. The ‘evolving transition’ scenario assumes that government policies, technologies and societal preferences evolve in a manner and speed similar to the recent past,” BP Group Chief Economist Spencer...

Source Feed: 360 Articles – Oil & Gas 360
Categories: 360 articles, analytics, closing bell story, electrical power generation

Energen Corporation (ticker: EGN) released financial and operating results for the fourth quarter and calendar year ended December 31, 2017. “Over the last five years, the board and management have strategically divested non-core assets and transformed Energen into a low-cost Permian pure-pay with a strong foundation for profitable growth,” said CEO James McManus. “We begin 2018 with a portfolio of high quality, oil-focused assets in the Delaware and Midland basins. The company is delivering...

Source Feed: 360 Articles – Oil & Gas 360
Categories: 360 articles, closing bell story, e&p, earnings, finance, fracing, 2017, 2018, basin, calendar year, capex, corporation, delaware, drilling, egn, energen, frac, full year, gas, horizontal, investing, midland, oil, q4, texas, ticker

Hi-Crush Partners LP (ticker: HCLP) reported its Q4 and full year 2017 results. Revenues for the fourth quarter of 2017 totaled $216.5 million on sales of 2,985,115 tons of frac sand. This compares to $167.6 million of revenues on sales of 2,456,195 tons of frac sand in the third quarter of 2017. "Hi-Crush’s performance in the fourth quarter is the result of a year of strategic planning and focused execution," said CEO Robert E. Continue reading Hi-Crush Sells 8.93 Million Tons of Frac Sand in...

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Categories: 360 articles, closing bell story, earnings, finance, fracing, oilfield services, basin, capex, cargo, dallas, deliveries, demand, enercom 2018 conference, frac, hclp, hi-crush, hicrush, marcellus, permian, pump, sales, sand, shale, texas, ticker, tons, train, utica, volumes, water

Diamond Offshore’s Ocean Monarch semisubmersible drilling rig has begun preparations for a move to Victorian waters where it will drill a series of wells for Adelaide-based Cooper Energy Ltd., including development of Sole gas field.

Source Feed: Drilling and Production News
Categories: drilling operations, drilling production

Energy XXI Gulf Coast, Inc. (ticker: EXXI) has approved a 2018 capital expenditure budget in the range of $145-$175 million, which includes funding of EGC's most active drilling program since 2014, as well as recompletions, facilities improvements, plugging and abandonment (P&A) expenditures and other capital investments. CEO and President Douglas E. Brooks said, "We have contracted a rig that is scheduled to begin drilling our six-well program in late February that will be concentrated in our...

Source Feed: 360 Articles – Oil & Gas 360
Categories: 360 articles, closing bell story, mexico, offshore, budget, capex, drilling in the gulf of mexico, egc, energy xxi, exxi, gom, million, offshore, spending

Iraq’s oil and gas potential remains considerable despite a wide range of challenges the country faces, speakers agreed at an Atlantic Council forum for the US launch of a new report. “With the exception of the US, Iraq mounted the biggest production increases of any producer in the world between 2011 and 2016, which is a pretty significant achievement,” said the report’s author, Ellen Scholl, deputy director at the AC’s Global Energy Center.

Source Feed: Drilling and Production News
Categories: general interest, economics markets, drilling production, government, production operations

Novatek, Moscow, has won an open auction to acquire the holders of two exploration and production licenses in Russia’s Yamalo-Nenets Autonomous District, where it produces hydrocarbons from 13 fields.

Source Feed: Drilling and Production News
Categories: general interest, drilling production, companies, production operations



















Noble Energy, Inc. (ticker: NBL) has signed agreements to sell significant quantities of natural gas from the Leviathan and Tamar fields to Dolphinus Holdings Limited to supply gas in Egypt. These agreements, one for natural gas from Leviathan and one for Tamar, each provide for total contract quantities of 1.15 trillion cubic feet of natural gas. The natural gas is anticipated to supply industrial and petrochemical customers as well as future power generation in Egypt, Noble said. Continue...

Source Feed: 360 Articles – Oil & Gas 360
Categories: 360 articles, a&d transactions, closing bell story, e&p, fracing, international, billion, deal, divestitures, dolphinus, egypt, exports, gas, industry, natgas, natural gas, nbl, noble energy, oil, petrochemical, power, sales, tcf, working interest

TransCanada, Enbridge and Spectra queue up pipeline projects across all of North America TransCanada adds Canadian capacity TransCanada Corporation (ticker: TRP) has a new $2.4 billion NGTL system expansion coming on-line within four years. The NGTL moves gas from the North Montney in British Columbia to and through Alberta to Saskatchewan and/or delivery access to the Canadian west coast for export as LNG if such a project becomes a reality. The company expects the system expansion to be...

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Categories: 360 articles, canada, closing bell story, midstream, oil sands, 2017, 2018, bopd, capex, contracts, deliveries, eep, gas, long, long read, longform, markets, midstream, natgas, natural gas, north america, oil, pipelines, projects, sep, stock, stocks, supply, ticker, trp, update

ExxonMobil Corp. has added 2.7 billion boe of proved oil and gas reserves in 2017, replacing 183% of production. ExxonMobil's proved reserves totaled 21.2 billion boe at yearend 2017. Liquids represented 57% of the reserves, up from 53% in 2016. ExxonMobil's reserves life at current production rates is 14 years.

Source Feed: Drilling and Production News
Categories: general interest, government, production operations

Permian and Montney will receive 70% of all 2018 CapEx Encana (ticker: ECA) announced fourth quarter results and reserves today, showing a net loss of $229 million, or ($0.24) per share. Despite this quarter’s loss, the company earned a net $827 million over the full year. Both of these results compare favorably to the company’s 2016 results, when Encana reported a net loss of $281 million and $944 million in Q4 and full year, respectively. Continue reading Encana Montney Liquids Production to...

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Categories: 360 articles, closing bell story, crude oil news, e&p, natural gas news

Reserves up 59% on Rice acquisition EQT (ticker: EQT) released year end results and reserves today, showing fourth quarter earnings of $1.28 billion, or $5.83 per share. The vast majority of these earnings, $1.2 billion, are due to benefits from the new tax legislation, as deferred tax liabilities are assessed at lower rates. However, EQT’s adjusted net income is still $168 million, well above the company’s $44 million earned in Q4 2016. The company now holds 21.4 Tcfe of reserves,...

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Alaska activity up 80% Drilling activity in the U.S. was flat this week, holding steady at the highest rig count in three years according to Baker Hughes. The total number of rigs operating in the country was unchanged at 975, though specific subsets saw significant changes. One land and inland waters rig shut down, while two offshore rigs became active. There is now only one inland waters rig operational in the entire U.S., in the swamps of Louisiana. Continue reading Rig Count Holds at 975: ...

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Pacesetter handles directional drilling with Pin Down PowerDrive rotary steerable system Ensign Energy Services Inc. successfully drilled Canada's longest land-based well, to-date, with a measured depth of 7,770 meters, or 25,500 feet. Image: courtesy of Pacessetter The well was drilled, in partnership with Shell Canada, in Fox Creek, Alberta, by an Ensign ADR 1500S super spec rig. Despite the well's record depth, the time from spud to rig-release was less than fourteen days. Continue reading...

Source Feed: 360 Articles – Oil & Gas 360
Categories: 360 articles, canada, closing bell story, e&p, ensign, pacesetter, shell canada

Oil and gas services company Wood Group is leading a subsea equipment research program offshore Australia in collaboration with Chevron Corp., Royal Dutch Shell PLC, and Woodside Petroleum Ltd.

Source Feed: Drilling and Production News
Categories: drilling production, production operations

Continental Resources Inc. increased its oil and natural gas production 37% to nearly 287,000 boe/d during fourth-quarter 2017 compared with the same period a year earlier. Continental plans to increase production in 2018, the company said in a preliminary statement on 2017 results.

Source Feed: Drilling and Production News
Categories: general interest, continental resources ok, drilling production, companies, production operations

The Stagecoach 111-20H well in the Uinta basin in Utah, operated by EOG Resources Inc., is producing natural gas in commercial quantities, said Foothills Exploration Inc., Denver, following drilling, completion, and flow testing.

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Categories: general interest, drilling production, eog resources inc, companies, production operations

The Colorado Oil & Gas Conservation Commission unanimously adopted new regulations covering flowlines and related oil and gas systems. The Feb. 13 action came following months of investigations and hearings after an Apr. 17, 2017, explosion and fire in an abandoned flowline killed two people and injured another in the town of Firestone.

Source Feed: Drilling and Production News
Categories: general interest, drilling production, transportation, hse, government, production operations, pipelines

In its latest Short-Term Energy Outlook, the US Energy Information Administration forecasts US crude oil production to average 10.6 million b/d in 2018 and 11.2 million b/d in 2019, both of which are 300,000 b/d higher than forecast in the January STEO.

Source Feed: Drilling and Production News
Categories: government, production operations, drilling production

The US Bureau of Land Management proposed revisions to its 2016 venting and flaring rule on Feb. 12 after a review found that it underestimated its impact on operators and overlapped with many existing state and federal regulations. The agency previously suspended implementation of several provisions in the rule until Jan. 17, 2019, while it completed the reevaluation.

Source Feed: Drilling and Production News
Categories: general interest, drilling production, exploration development, hse, government

Every oil and gas facility has the potential to be hampered by the problem of NORM (short for Naturally Occurring Radioactive Material), especially during phases of decommissioning. To fully understand NORM, first take note that it can be broken down into various waste streams. For example… There is NORM waste which is contaminated with other […]

Source Feed: Global Oil and Gas Industry News | The OGM – ENERGY | TECH | CULTURE
Categories: chemicals, marine & offshore, mechanical, minerals, oil & gas, safety, tech, technology

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Oil producing regions are experiencing a major downturn in the economy. The last few months have been challenging for all business sectors, and anyone reliant on oil revenue (and in Newfoundland that’s just about every one of us) has felt the pinch in some capacity. Managing your reputation in this business climate has never been […]

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Source Feed: Global Oil and Gas Industry News | The OGM – ENERGY | TECH | CULTURE
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THE WINNERS ARE: TECHMATION ELECTRIC & CONTROLS, STEP ENERGY SERVICES, CROSBIE SALAMIS LTD, COUGAR HELICOPTERS, THE OGM SAFETY RESULTS AWARD WINNER: Techmation Electric & Controls Ltd. Techmation Electric & Controls Ltd. provides a complete range of electrical and instrumentation services throughout Western Canada. Techmation is committed to achieving stellar performance and giving value to their […]

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Petrotechnical Data Systems (PDS) is one of the biggest providers of software solution developers in the field of oil and gas industries. They recently unveiled a new Open Source Technology termed Wellsite Information Transfer Standard Markup Language (WITSML) for Energistics. Launched under the open Apache License, there are two categories of the software: the PDS […]

Source Feed: Global Oil and Gas Industry News | The OGM – ENERGY | TECH | CULTURE
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The FleetLink system from Atlas Copco supports the construction and oil and gas industry. It is offered in two packages, the FleetLink Advanced, intended for large pavers, including asphalt and large soil rollers, up to highway class pavers and the standard FleetLink for small pavers. Both packages are offered free of cost with the purchase […]

Source Feed: Global Oil and Gas Industry News | The OGM – ENERGY | TECH | CULTURE
Categories: construction, products & services, tech, technology

The CMC Research Institutes are aiding the NRG COSIA Carbon XPRIZE for a $20 million global competition. The competition is aimed towards finding technologies that can successfully convert Carbon Dioxide emissions into high-value products. This is highly contextual in today’s world, where air pollution in major cities all over the world is a growing concern […]

Source Feed: Global Oil and Gas Industry News | The OGM – ENERGY | TECH | CULTURE
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When an industry faces a harsh downturn for two years, there is a critical need gain efficiencies, optimization and reliability.  That’s a global trend. And in the coatings industry its leading minds that have come up with optimal gains that support sustainable long-term cost reductions and higher efficiency. Replacement and repair of damaged equipment are […]

Source Feed: Global Oil and Gas Industry News | The OGM – ENERGY | TECH | CULTURE
Categories: drilling, exploration & production, liquefied natural gas, marine & offshore, oil & gas, oil sands, pipelines, tech, technology, transportation & logistics

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