Daewoo Wins Vantage Drill Ship Order
SEOUL, May 11 Asia Pulse - Daewoo Shipbuilding & Marine Engineering Co. (KSE:042660), South Korea's No. 2 shipbuilder, said Wednesday that it has won a deal to build a drill ship for
Vantage Adds to Jackup Backlog with Thailand Contract
Vantage Drilling Co. announced Wednesday that it has received a letter of award for an 18-month drilling program in Thailand for the Emerald Driller. The contract will commence in continuity with the completion of the Emerald Driller's current contract. Estimated revenues to be generated over the initial term of the contract are approximately $72 million.
Keppel wins twin jackup rig order from Gulf Drilling at US$393 million
Keppel FELS Limited (Keppel FELS) has secured contracts to build two high-specification KFELS B Class Bigfoot jackup rigs from returning customer Gulf Drilling International Ltd. (q.s.c.) (GDI) of Qatar, worth about US$393 million.
On-the-spot fines planned for careless driving
UK Police will get powers to fine careless drivers on the spot, rather than taking them to court, as part of a government strategy to make Britain's roads safer. Ministers say motorists who tail-gate, undertake or cut others up often go unpunished and that introducing instant penalties would be more efficient.
Microsoft buys Skype for �5billion
Microsoft has confirmed its shock purchase of Skype today, buying the voice and video calling service for over �5billion - a move that could see it integrated with Xbox Live or Windows Phone.
OTC: BP calls deepwater drilling 'indispensable'
Oil & Gas Journal
A growing percentage of oil and gas reserves worldwide are in deep water, calling for new technologies to operate safely and reliably under enormous pressures and temperatures, BP America Inc. Chairman and Pres. Lamar McKay told the Offshore Technology ...
What Sways Global Oil Prices?
National Journal (blog)
Phasing in oil drilling to phase it out over 4-5 decades might work to help wean us off oil, but then we need an alternative that works. Do we really have that now? Nope. We could also allow more Canadian oil to flow into the US and this is a no ...
Brownstone Energy Puts Canaguay #1 Well on Production in Colombia
Stockhouse
Long term trucking and sale agreements have been signed for oil produced at Canaguay #1. Brownstone has met its obligations to earn its 25% working interest in the Canaguaro Block. Brownstone and its partners have defined drilling locations on the ...
UPDATE: Schlumberger To Get Contract In Iraq's West Qurna-1 - Source
Zawya
The source said drilling new wells would boost output at the field, currently at more than 310000 barrels a day, with the aim of reaching 400000 barrels a day by the end of this year. Last year, ExxonMobil awarded a contract to Halliburton Co. ...
DryShips Inc. Announces First Quarter 2011 Results Release Date, Conference ...
Marketwire (press release)
DryShips Inc., based in Greece, is an owner of drybulk carriers and tankers that operate worldwide. Through its majority owned subsidiary, Ocean Rig UDW, Inc., DryShips owns and operates 8 offshore ultra deepwater drilling units, comprising of 2 ultra ...
Oil Edge: The best place to look for oil.....
OilVoice (press release)
Turning to Enhanced Oil Recovery in particular, Awan et al .(2) have surveyed all North Sea EOR projects initiated in the 30 years 1975 to 2005, and have also reviewed all microbial EOR projects undertaken world-wide. Approximately 63% of the North Sea ...
Senator Durbin Wants to Eliminate Tax Breaks for Big Oil Companies
WJBD Online
Durbin is calling for the elimination of tax credits. Republicans say domestic drilling is the solution but Durbin says this country's oil reserves only account for about three percent of crude oil worldwide.
Advances in risk management will make offshore drilling safe
Gisborne Herald
It is designed to safeguard or stop blowouts down to depths of 3000 metres and contain up to 100000 barrels of oil per day. At this stage it is set up in the Gulf of Mexico and will eventually be available worldwide. Technology is rapidly advancing and ...
UK. Braemar Shipping Services PLC Chaiman's Statement
BYM News (press release)
The market for offshore supply vessels was relatively subdued in 2010, but the rising oil price is stimulating drilling activity and investment, which we expect will lead to higher demand and better vessel use. Our offshore team, based in London, ...
Doxa Energy Ltd. Provides Operational Updates
PR-USA.net (press release)
Since its inception in mid-2010, Doxa has acquired the right to participate in drilling and seismic ventures covering 35000 gross acres (primarily exploration) in South Texas representing 11000 net acres to Doxa. This includes approximately 5500 gross ...
Permian Basin Royalty Trust Reports Operating Results (10-Q)
GuruFocus.com
The average received price of oil increased to an average price per barrel of $83.00 per Bbl in the first quarter of 2011, compared to $72.16 per Bbl in the first quarter of 2010 due to worldwide market variables. The Trustee has been advised by ...
Obama's Worst Enemy
American Thinker
Faced with the same predicament in 2008, George W. Bush brought oil prices down simply by announcing that new drilling areas would be opened up. Prices dropped, an outcome that Obama would have us believe is impossible. The problem lies in Obama's lack ...
RIL's overseas oil & gas, shale ventures bleed
mydigitalfc.com
By Vikas Srivastav May 09 2011 , Mumbai The international oil and gas ventures of Reliance Industries (RIL) have suffered losses, according to data in its 2010-11 annual report. Reliance Explorat-ion and Production DMCC, the holding company for ...
The New York Times Pumps for Higher Oil/Gas Prices
Huffington Post (blog)
Thereby not only giving us the oiligopoly mantra, but also preparing us to accept unquestioningly any new ascent in oil prices. By doing so, making it easier for the 'preordained' oil and gas price increases to come to pass -- the best flacks the oil ...
OGJ Newsletter
Oil & Gas Journal
Restoring public trust and setting new standards are vital to moving forward in the oil and gas industry, according to David Payne, Chevron Corp.'s vice-president, drilling and completions. Speaking at a panel discussion May 3 at the Offshore ...
Discussing oil taxation
Oil & Gas Journal
Recent talk in Washington, DC, about ending oil and gas tax incentives shows why energy policy in the US is such a mess. "When oil companies are making huge profits and you're struggling at the pump, and we're scouringthe federal budget for spending ...
North Sea tax move to cost Centrica �300m
Financial Times
By Andrew Whiffin A combination of higher profits and an increased tax rate at Centrica's North Sea oil and gas operations will result in the energy group paying the Treasury an extra �300m this year. The owner of British Gas on Monday also said that ...
Brib ery Act to hit oil and gas hardest, finds research
People Management Magazine Online
The oil and gas industry has topped a list of sectors expected to be hit hardest by the Bribery Act, research from Ernst & Young has shown. The consultancy firm ranked the top ten sectors most at risk of investigation under the Bribery Act based on ...
Oil and Gas CEO Pay Beats Other Industries
Wall Street Journal
By DANA MATTIOLI Chief executives in the oil and gas, telecom, financial and consumer goods sectors were paid more than bosses in other industries in 2010, according to a study of proxy statements conducted for The Wall Street Journal by management ...
Brazil OGX To Participate In ANP 11th Round Concession Auction
Wall Street Journal
The oil and gas company, part of billionaire Brazilian businessman Eike Batista's industrial conglomerate, also expects to produce its first crude oil in the second half of 2011, said Ricardo Abiramia, OGX's executive manager for production. ...
Exxon in Talks With Indonesia on Angolan Oil Stake
Wall Street Journal
Asian countries dependent on oil imports are actively seeking resources from abroad. Oil and gas deals involving a company from the Asia Pacific region totaled $29 billion last year. Indonesia's dwindling domestic crude-oil output and high levels of ...
SBI Mutual Fund buys oil & gas, pharma and automotive
Moneycontrol.com
SBI Mutual Funds has increased in weightage in oil & gas, pharmaceuticals and automotive sectors, while decreased its exposure in information technology, banking & financial services and engineering & capital goods space. ...
New Index IQ ETF seeks to distill oil investing
Marketwatch
The IQ Global Oil Small Cap ETF, which launched Wednesday, aims to more closely track the price of physical oil by investing in developing refiners, explorers and drilling outfits that stand to reap the biggest profits from an intensifying search for ...
Pull your weight, America
WEBCommentary
Thousands of former oil patch workers remain unemployed, while the Obama Administration and Congress refuse to issue leases or drilling permits and, instead, make more and more oil and gas prospects off limits to exploration. ...
Transocean CEO Discusses Q1 2011 Results - Earnings Call Transcript
Seeking Alpha
With this great team, as well as the world-class fleet, Transocean remains uniquely positioned to continue to lead the off shore drilling industry. With that I will turn the call over to Ricardo, to take you through the numbers. Ricardo? ...
Murphy Oil Beats on Bottom Line Zacks.com
Murphy's worldwide crude oil and condensate sales prices averaged $86.73 per barrel for the first quarter of 2011 compared with $64.89 per barrel in the first quarter of 2010, reflecting an increase of 33.6%. North American natural gas sales prices ...
Noble Corporation Names Lee M. Ahlstrom as Senior Vice President, Strategic
PR Newswire (press release)
"We are delighted to have Simon as part of our management team and believe his energy, knowledge and experience make him an ideal addition to our worldwide marketing effort," said Williams. Noble is a leading offshore drilling contractor for the oil ...
Gas Development Executive Roundtable
Power-Gen Worldwide
In regard to the distinction between oil and gas rigs, in some cases there is a distinction, but in many cases, there isn't. Many of the rigs that have been built recently have been designed for horizontal drilling and we're using exactly the same rigs ...
Weir running with the Frack Pack
BBC News (blog)
The technology now relies on horizontal fracking. That means drilling a well into a rock seam 10000 or so feet underground, then drilling the borehole horizontally along it. Blasting it with water, sand and chemicals forces gas and oil out of the rock ...
GE Completes Acquisition of John Wood Group PLC's Well Support Division
Impeller.net (press release)
GE is pleased to announce it has completed the strategic acquisition of John Wood Group PLC's Well Support Division, expanding GE Oil & Gas' extensive drilling and surface manufacturing and services portfolio. John Wood Group PLC Well Support ...
Baker Hughes Adds Hydrocarbon Prediction Software To Its Consulting Services
E&P
�One of the key uncertainties for exploration drilling is the size of the hydrocarbon column that will be intersected by a well. Using FaultRisk, we can assess and manage that risk much more successfully in a timely and cost-effective manner. ...
Devon Energy's CEO Discusses Q1 2011 Results - Earnings Call Transcript
Seeking Alpha
This will enable us to grow our year-over-year oil and natural gas liquids production at a rate in the high teens. And inevitably at some point in the future, gas prices will recover and incentivize the drilling of dry gas place. ...
Let's blame all the speculators
DeSoto Times Today
President Obama has asked the US Department of Justice to investigate whether Wall Street speculators could be manipulating oil markets. If Obama could convince other nations to put an end to worldwide oil speculation, we might be able enjoy $2 per ...
Pason Reports its 2011 First Quarter Results
DigitalJournal.com (press release)
The proliferation of North American shale drilling, first with natural gas targets, then gas with high liquids content and now more recently shale bearing oil deposits plus renewed interest in conventional oil formations drilled horizontally, ...
Occidental Petroleum Announces Dividend
Insurance News Net (press release)
Occidental Petroleum Corporation is an international oil and gasexploration and production company with operations in the United States , Middle East / North Africa and Latin America regions. Oxy is the fourth largest US oil and gas company, ...
Atwood Oceanics' CEO Discusses Q2 2011 Results - Earnings Call Transcript
Seeking Alpha
This performance is valued highly by our clients and the operators I meet with repeatedly cite our reliability and consistency as key reasons for entrusting Atwood with their drilling programs. The second quarter's performance was also aided by the ...
TRIB TALK
Columbia Daily Tribune
It's made by the price of gasoline and stuff worldwide. If you start taxing them more, what's going to happen? The price is going to go up even more. We need to do more drilling and get things going in this country to keep the price down because when ...
Ivanhoe Energy successfully upgrades heavy oil from its Pungarayacu field in
Sacramento Bee
This followed a 26-well appraisal drilling program in the 1980's carried out by Petroecuador, which provided valuable preliminary data on the field but did not include thermal recovery and hence did not produce any oil for characterization and testing. ...
Construction cliff work 'not for the faint-hearted'A scenic spot in China's Hunan province is undergoing a rather ambitious project to build hundreds of metres of cliff paths.
Libya: Contact group creates fund for rebelsThe international contact group on Libya has agreed to create a temporary fund to assist rebel groups, during talks in Rome. French Foreign Minister Alain Juppe says the fund should be operational within weeks. The group of Nato countries, Arab states and other nations are discussing ways to increase pressure on Col Muammar Gaddafi.
Maersk Oil supports Extractive Industries Transparency InitiativeMaersk Oil has decided to support the Extractive Industries Transparency Initiative (EITI) as part of its transparency and anti-corruption activities.. The EITI is a globally developed standard that promotes revenue transparency at the national level through public reporting of company payments and government revenues. The objective is to strengthen governance through increased transparency on the revenues governments receive from the extractive industries.
Parker Drilling reports first quarter 2011 resultsParker Drilling (NYSE-PKD), a drilling contractor and service provider, today reported results for the 2011 first quarter ended March 31, 2011. The Company's results for the first quarter included net income attributable to controlling interest of $4.8 ...
Pride Intl 1Q profit falls on drilling moratorium
Pride International Inc. said Thursday that its profit tumbled 59 percent in the first quarter as operating costs increased ahead of the company's planned sale to the British oil drilling company Ensco PLC.
Hotel guest Graham Parish died after downing ten-shot drink
Two hotel bar staff have been charged with manslaughter after guest Graham Parish sank a glass filled with ten shots of spirits.
Inebriated Mr Parish was celebrating his 26th birthday when he slumped off his bar stool and was carried from the bar, a court heard.
Transocean Profit Falls 54% .
HOUSTON�Transocean Ltd.'s first-quarter profit dropped 54% as the driller's utilization rate continued to slide, and results missed Wall Street expectations. Transocean is among the oil-and-gas companies contending with a web of lawsuits stemming from their roles in the Deepwater Horizon drilling-rig explosion last year in the Gulf of Mexico, which killed 11 people and caused the biggest offshore oil spill in U.S. history.
As BP Resolves Some Legal Woes, GOP Split on Its Offshore Drilling Fate
BP PLC's settlement yesterday in an Alaskan pipeline case marks the second high-profile legal battle the company has ended since capping its Gulf of Mexico gusher. But that leaves Republicans facing a quandary: Should BP be the exception to their push for more and faster offshore drilling?
Shell starts production from Scotford oil sands upgrader expansion
Shell Canada Energy has started production from the Scotford upgrader expansion project near Edmonton, Canada. The 100,000 b/d expansion increases Scotford's bitumen upgrading capacity to 255,000 b/d.
Petrobras lets subsea system contract for Congro, Corvina fields
Petroleo Brasileiro SA (Petrobras) let a $130 million to FMC Technologies Inc. for the supply of two subsea separation and boosting systems for Congro and Corvina fields, which lie off Brazil in the Campos basin.
Aramco aims for 15.5 bscfd gas production goal by 2015
Saudi Aramco is on track to reach a projected production target of 15.5 bscfd of raw natural gas by 2015, according to Saad A. Turaiki, Aramco vice-president of southern area oil operations.
Artificial island projects off Abu Dhabi expand field operations
The UAE has turned to artificial islands for facilitating oil-field operations off Abu Dhabi.
Shell to Apply for Alaska Offshore-Drilling Permit
HOUSTON�A Shell Oil spokesman said Tuesday the company plans to apply on Wednesday for a federal permit to drill for oil in the Beaufort Sea off the Alaskan shore.
Chevron Piles Into Marcellus Shale
Chevron Corp. is doubling down on a big natural-gas bet by expanding its reach into a large swath of Pennsylvania.
Tax Hits Confidence of North Sea Oil Producers
LONDON�The U.K.'s recent tax increase on North Sea oil and gas production has already had a marked impact on business confidence in the sector, the industry's representative body said Wednesday, ahead of the latest attempt to persuade the government to reverse a March decision to raise the levy on offshore-drilling profits.
Robert Fisk: If this is a US victory, does that mean its forces should go home now?
Iran spoke for many Arabs when it said Bin Laden's death took away the West's reason to have troops in the region. So why are we in Afghanistan? Didn't the Americans and the British go there in 2001 to fight Osama bin Laden? Wasn't he killed on Monday?
Prince Charles to meet Barack Obama in Washington
The prince said servicemen and women were owed an 'immense debt' The Prince of Wales is due to meet US President Barack Obama in Washington on the second day of his visit to the US. Attending an event on Wednesday to support UK and American troops, Charles praised wounded US service personnel, citing their positive outlook on life and "determination" to succeed.
Nato strike 'kills Saif al-Arab Gaddafi', Libya says
A Nato air strike in Tripoli has killed the son of Col Muammar Gaddafi, a Libyan government spokesman has said. Saif al-Arab and three of Col Gaddafi's grandchildren died at a villa in the Bab al-Aziziya compound, he said.
Canada faces fight over oil sands
Investment in Canada's oil sands is picking up after falling during the depths of the global economic recession. However, mounting environmental concerns threaten exports and Canada's next government will have a growing fight on its hands to promote the industry, as Jonah Engle reports. April has been a difficult month for Canadian oil sands producers.
Air France cockpit voice recorder recovered
The cockpit voice recorder from an Air France plane that crashed into the Atlantic two years ago has been found, French investigators have said. The discovery comes two days after the airliner's flight data recorder was also retrieved from the ocean.
Ticket sellers agree to anti-fraud move
Two of the biggest live event organisers in the UK have agreed to a police idea to protect people from fraudulent ticket websites. Festival Republic and Livenation will send out tickets as soon as possible, rather than waiting, sometimes for six months, until just before performances.
Libya crisis: UN leaves Tripoli amid mob attacks
The UN has withdrawn all its international staff from the Libyan capital Tripoli following a mob attack on its offices.UN buildings and some foreign missions were targeted by angry crowds following a Nato air strike that reportedly killed a son of Col Gaddafi.
Egypt urges US to back Palestinian state declaration
The Egyptian Foreign Minister Nabil al-Araby has urged the United States to support the declaration of an independent Palestinian state. The call comes after the reconciliation between Hamas and Fatah brokered last week by Egypt. Both Israel and the US have said they will not deal with Hamas, and have until now opposed a unilateral declaration of Palestinian statehood
Centrica threatens to close major UK gas field
Centrica, the owner of British Gas, says it might shut one of its major gas fields because of increased taxes. The company is closing three fields in Morecambe Bay for a month of maintenance, and says it might not reopen one of them. In his Budget, Chancellor George Osborne raised supplementary tax on oil and gas production from 20% to 32%.
British boxing legend Sir Henry Cooper dies aged 76
Heavyweight boxing legend Sir Henry Cooper has died at the age of 76 at his son's house in Oxted, Surrey. The former British, Commonwealth and European champion fought 55 times and is revered for his 1963 knockdown of Muhammad Ali - then Cassius Clay
Al-Qaeda leader Osama Bin Laden dead - Barack
Al-Qaeda leader Osama Bin Laden has been killed by US forces in Pakistan, President Barack Obama has said. The al-Qaeda leader was killed in a ground operation outside Islamabad based on US intelligence, the first lead for which emerged last August.Mr Obama said after "a firefight", US forces took possession of his body.
US Gas Rig Count Climbs By Four This Week To 882 -Baker Hughes
HOUSTON (Dow Jones)--The number of rigs drilling for natural gas and oil in the US increased over the last week, Baker Hughes Inc. (BHI) said Friday. There were 882 rigs drilling for natural gas in the US during the week ended Friday,
Shell Tries to Calm Fears on Drilling in Alaska
But BP's Deepwater Horizon disaster a year ago put a chill on new offshore drilling. Shell's renewed application will pose a test for President Obama, who promised to put safety first after the BP spill. But he has also reiterated his support for ...
Taranaki set for deep sea drilling
US independent energy giant Anadarko Petroleum has confirmed it intends drilling the well in what is known as the Deepwater Taranaki Basin. There will be more details of what is planned, and when, at a big oil and gas conference in New Plymouth next ...
Nemex makes steady ASX debut
The company said it expected to begin drilling at its Mid West projects in the third quarter of 2011 and drilling at its Coastal Iron Project in Guinea later this year. Nemex's managing director Dr Peter Turner said the company's portfolio was highly ...
The Effect of Oil Prices on Oil Drilling in the U.S.
Oil markets have changed dramatically in the past couple of decades or so. Except for a few years following the second Oil Embargo - prices got as high as $60 (in 2005 $) a barrel in 1981 - real prices have tended to be below $25 a barrel through about 1999.
Cut Off drilling operation continues
THIBODAUX � A dispute between Lafourche Parish and the operators at a drilling site in Cut Off has ground to an impasse as the drill draws closer to reaching its target 13,400 feet underground
Statoil Secures New Light Well Intervention Vessel
Statoil has awarded Island Offshore a framework agreement for a new light well intervention (LWI) vessel on the Norwegian continental shelf (NCS). The third of its type in Statoil's portfolio the vessel will help reduce the costs of well interventions and enhanced oil recovery
Scots Energy firms home in on Houston
Leading figures from Scotland�s oil and gas business are arriving in the US city of Houston for the world�s top industry show.
Nexen poised to go ahead with Golden Eagle development
Oil and gas operator Nexen said yesterday it was ready to proceed with the development of Golden Eagle in the UK North Sea.
Ithaca on the lookout for new assets as profits jump
North Sea oil and gas firm Ithaca Energy raised reserve estimates yesterday as it revealed a jump in profits and said it was still scouting for new assets on the UK continental shelf.
Outlook is still bright for the mega deals in energy sector
Mega deals in the oil and gas sector are still very much on the agenda, according to PwC�s latest global deal trends report out yesterday.
Transocean claims record sea depth for oil drilling
ZURICH � Offshore oil drilling group Transocean claimed Tuesday that it had a set a world record for deep water drilling at an ocean depth of 3,107 metres (10,194 feet) off the coast of India.
The depth was achieved by the ultra-deepwater drillship Dhirubhai Deepwater KG2, surpassing the previous record of 10,011 feet, also set by Transocean in 2003 in the Gulf of Mexico, the group said in a statement.
Halliburton wins oil services contract in Iraq
Halliburton Co. said Monday that it has been contracted by Exxon Mobil Corp. to use three drilling rigs to provide oil drilling services at a large field under development in southern Iraq. The contract from ExxonMobil Iraq Ltd. covers services for 15 ...
SEOUL, May 11 Asia Pulse - Daewoo Shipbuilding & Marine Engineering Co. (KSE:042660), South Korea's No. 2 shipbuilder, said Wednesday that it has won a deal to build a drill ship for
Vantage Adds to Jackup Backlog with Thailand Contract
Vantage Drilling Co. announced Wednesday that it has received a letter of award for an 18-month drilling program in Thailand for the Emerald Driller. The contract will commence in continuity with the completion of the Emerald Driller's current contract. Estimated revenues to be generated over the initial term of the contract are approximately $72 million.
Keppel wins twin jackup rig order from Gulf Drilling at US$393 million
Keppel FELS Limited (Keppel FELS) has secured contracts to build two high-specification KFELS B Class Bigfoot jackup rigs from returning customer Gulf Drilling International Ltd. (q.s.c.) (GDI) of Qatar, worth about US$393 million.
On-the-spot fines planned for careless driving
UK Police will get powers to fine careless drivers on the spot, rather than taking them to court, as part of a government strategy to make Britain's roads safer. Ministers say motorists who tail-gate, undertake or cut others up often go unpunished and that introducing instant penalties would be more efficient.
Microsoft buys Skype for �5billion
Microsoft has confirmed its shock purchase of Skype today, buying the voice and video calling service for over �5billion - a move that could see it integrated with Xbox Live or Windows Phone.
OTC: BP calls deepwater drilling 'indispensable'
Oil & Gas Journal
A growing percentage of oil and gas reserves worldwide are in deep water, calling for new technologies to operate safely and reliably under enormous pressures and temperatures, BP America Inc. Chairman and Pres. Lamar McKay told the Offshore Technology ...
What Sways Global Oil Prices?
National Journal (blog)
Phasing in oil drilling to phase it out over 4-5 decades might work to help wean us off oil, but then we need an alternative that works. Do we really have that now? Nope. We could also allow more Canadian oil to flow into the US and this is a no ...
Brownstone Energy Puts Canaguay #1 Well on Production in Colombia
Stockhouse
Long term trucking and sale agreements have been signed for oil produced at Canaguay #1. Brownstone has met its obligations to earn its 25% working interest in the Canaguaro Block. Brownstone and its partners have defined drilling locations on the ...
UPDATE: Schlumberger To Get Contract In Iraq's West Qurna-1 - Source
Zawya
The source said drilling new wells would boost output at the field, currently at more than 310000 barrels a day, with the aim of reaching 400000 barrels a day by the end of this year. Last year, ExxonMobil awarded a contract to Halliburton Co. ...
DryShips Inc. Announces First Quarter 2011 Results Release Date, Conference ...
Marketwire (press release)
DryShips Inc., based in Greece, is an owner of drybulk carriers and tankers that operate worldwide. Through its majority owned subsidiary, Ocean Rig UDW, Inc., DryShips owns and operates 8 offshore ultra deepwater drilling units, comprising of 2 ultra ...
Oil Edge: The best place to look for oil.....
OilVoice (press release)
Turning to Enhanced Oil Recovery in particular, Awan et al .(2) have surveyed all North Sea EOR projects initiated in the 30 years 1975 to 2005, and have also reviewed all microbial EOR projects undertaken world-wide. Approximately 63% of the North Sea ...
Senator Durbin Wants to Eliminate Tax Breaks for Big Oil Companies
WJBD Online
Durbin is calling for the elimination of tax credits. Republicans say domestic drilling is the solution but Durbin says this country's oil reserves only account for about three percent of crude oil worldwide.
Advances in risk management will make offshore drilling safe
Gisborne Herald
It is designed to safeguard or stop blowouts down to depths of 3000 metres and contain up to 100000 barrels of oil per day. At this stage it is set up in the Gulf of Mexico and will eventually be available worldwide. Technology is rapidly advancing and ...
UK. Braemar Shipping Services PLC Chaiman's Statement
BYM News (press release)
The market for offshore supply vessels was relatively subdued in 2010, but the rising oil price is stimulating drilling activity and investment, which we expect will lead to higher demand and better vessel use. Our offshore team, based in London, ...
Doxa Energy Ltd. Provides Operational Updates
PR-USA.net (press release)
Since its inception in mid-2010, Doxa has acquired the right to participate in drilling and seismic ventures covering 35000 gross acres (primarily exploration) in South Texas representing 11000 net acres to Doxa. This includes approximately 5500 gross ...
Permian Basin Royalty Trust Reports Operating Results (10-Q)
GuruFocus.com
The average received price of oil increased to an average price per barrel of $83.00 per Bbl in the first quarter of 2011, compared to $72.16 per Bbl in the first quarter of 2010 due to worldwide market variables. The Trustee has been advised by ...
Obama's Worst Enemy
American Thinker
Faced with the same predicament in 2008, George W. Bush brought oil prices down simply by announcing that new drilling areas would be opened up. Prices dropped, an outcome that Obama would have us believe is impossible. The problem lies in Obama's lack ...
RIL's overseas oil & gas, shale ventures bleed
mydigitalfc.com
By Vikas Srivastav May 09 2011 , Mumbai The international oil and gas ventures of Reliance Industries (RIL) have suffered losses, according to data in its 2010-11 annual report. Reliance Explorat-ion and Production DMCC, the holding company for ...
The New York Times Pumps for Higher Oil/Gas Prices
Huffington Post (blog)
Thereby not only giving us the oiligopoly mantra, but also preparing us to accept unquestioningly any new ascent in oil prices. By doing so, making it easier for the 'preordained' oil and gas price increases to come to pass -- the best flacks the oil ...
OGJ Newsletter
Oil & Gas Journal
Restoring public trust and setting new standards are vital to moving forward in the oil and gas industry, according to David Payne, Chevron Corp.'s vice-president, drilling and completions. Speaking at a panel discussion May 3 at the Offshore ...
Discussing oil taxation
Oil & Gas Journal
Recent talk in Washington, DC, about ending oil and gas tax incentives shows why energy policy in the US is such a mess. "When oil companies are making huge profits and you're struggling at the pump, and we're scouringthe federal budget for spending ...
North Sea tax move to cost Centrica �300m
Financial Times
By Andrew Whiffin A combination of higher profits and an increased tax rate at Centrica's North Sea oil and gas operations will result in the energy group paying the Treasury an extra �300m this year. The owner of British Gas on Monday also said that ...
Brib ery Act to hit oil and gas hardest, finds research
People Management Magazine Online
The oil and gas industry has topped a list of sectors expected to be hit hardest by the Bribery Act, research from Ernst & Young has shown. The consultancy firm ranked the top ten sectors most at risk of investigation under the Bribery Act based on ...
Oil and Gas CEO Pay Beats Other Industries
Wall Street Journal
By DANA MATTIOLI Chief executives in the oil and gas, telecom, financial and consumer goods sectors were paid more than bosses in other industries in 2010, according to a study of proxy statements conducted for The Wall Street Journal by management ...
Brazil OGX To Participate In ANP 11th Round Concession Auction
Wall Street Journal
The oil and gas company, part of billionaire Brazilian businessman Eike Batista's industrial conglomerate, also expects to produce its first crude oil in the second half of 2011, said Ricardo Abiramia, OGX's executive manager for production. ...
Exxon in Talks With Indonesia on Angolan Oil Stake
Wall Street Journal
Asian countries dependent on oil imports are actively seeking resources from abroad. Oil and gas deals involving a company from the Asia Pacific region totaled $29 billion last year. Indonesia's dwindling domestic crude-oil output and high levels of ...
SBI Mutual Fund buys oil & gas, pharma and automotive
Moneycontrol.com
SBI Mutual Funds has increased in weightage in oil & gas, pharmaceuticals and automotive sectors, while decreased its exposure in information technology, banking & financial services and engineering & capital goods space. ...
New Index IQ ETF seeks to distill oil investing
Marketwatch
The IQ Global Oil Small Cap ETF, which launched Wednesday, aims to more closely track the price of physical oil by investing in developing refiners, explorers and drilling outfits that stand to reap the biggest profits from an intensifying search for ...
Pull your weight, America
WEBCommentary
Thousands of former oil patch workers remain unemployed, while the Obama Administration and Congress refuse to issue leases or drilling permits and, instead, make more and more oil and gas prospects off limits to exploration. ...
Transocean CEO Discusses Q1 2011 Results - Earnings Call Transcript
Seeking Alpha
With this great team, as well as the world-class fleet, Transocean remains uniquely positioned to continue to lead the off shore drilling industry. With that I will turn the call over to Ricardo, to take you through the numbers. Ricardo? ...
Murphy Oil Beats on Bottom Line Zacks.com
Murphy's worldwide crude oil and condensate sales prices averaged $86.73 per barrel for the first quarter of 2011 compared with $64.89 per barrel in the first quarter of 2010, reflecting an increase of 33.6%. North American natural gas sales prices ...
Noble Corporation Names Lee M. Ahlstrom as Senior Vice President, Strategic
PR Newswire (press release)
"We are delighted to have Simon as part of our management team and believe his energy, knowledge and experience make him an ideal addition to our worldwide marketing effort," said Williams. Noble is a leading offshore drilling contractor for the oil ...
Gas Development Executive Roundtable
Power-Gen Worldwide
In regard to the distinction between oil and gas rigs, in some cases there is a distinction, but in many cases, there isn't. Many of the rigs that have been built recently have been designed for horizontal drilling and we're using exactly the same rigs ...
Weir running with the Frack Pack
BBC News (blog)
The technology now relies on horizontal fracking. That means drilling a well into a rock seam 10000 or so feet underground, then drilling the borehole horizontally along it. Blasting it with water, sand and chemicals forces gas and oil out of the rock ...
GE Completes Acquisition of John Wood Group PLC's Well Support Division
Impeller.net (press release)
GE is pleased to announce it has completed the strategic acquisition of John Wood Group PLC's Well Support Division, expanding GE Oil & Gas' extensive drilling and surface manufacturing and services portfolio. John Wood Group PLC Well Support ...
Baker Hughes Adds Hydrocarbon Prediction Software To Its Consulting Services
E&P
�One of the key uncertainties for exploration drilling is the size of the hydrocarbon column that will be intersected by a well. Using FaultRisk, we can assess and manage that risk much more successfully in a timely and cost-effective manner. ...
Devon Energy's CEO Discusses Q1 2011 Results - Earnings Call Transcript
Seeking Alpha
This will enable us to grow our year-over-year oil and natural gas liquids production at a rate in the high teens. And inevitably at some point in the future, gas prices will recover and incentivize the drilling of dry gas place. ...
Let's blame all the speculators
DeSoto Times Today
President Obama has asked the US Department of Justice to investigate whether Wall Street speculators could be manipulating oil markets. If Obama could convince other nations to put an end to worldwide oil speculation, we might be able enjoy $2 per ...
Pason Reports its 2011 First Quarter Results
DigitalJournal.com (press release)
The proliferation of North American shale drilling, first with natural gas targets, then gas with high liquids content and now more recently shale bearing oil deposits plus renewed interest in conventional oil formations drilled horizontally, ...
Occidental Petroleum Announces Dividend
Insurance News Net (press release)
Occidental Petroleum Corporation is an international oil and gasexploration and production company with operations in the United States , Middle East / North Africa and Latin America regions. Oxy is the fourth largest US oil and gas company, ...
Atwood Oceanics' CEO Discusses Q2 2011 Results - Earnings Call Transcript
Seeking Alpha
This performance is valued highly by our clients and the operators I meet with repeatedly cite our reliability and consistency as key reasons for entrusting Atwood with their drilling programs. The second quarter's performance was also aided by the ...
TRIB TALK
Columbia Daily Tribune
It's made by the price of gasoline and stuff worldwide. If you start taxing them more, what's going to happen? The price is going to go up even more. We need to do more drilling and get things going in this country to keep the price down because when ...
Ivanhoe Energy successfully upgrades heavy oil from its Pungarayacu field in
Sacramento Bee
This followed a 26-well appraisal drilling program in the 1980's carried out by Petroecuador, which provided valuable preliminary data on the field but did not include thermal recovery and hence did not produce any oil for characterization and testing. ...
Construction cliff work 'not for the faint-hearted'A scenic spot in China's Hunan province is undergoing a rather ambitious project to build hundreds of metres of cliff paths.
Libya: Contact group creates fund for rebelsThe international contact group on Libya has agreed to create a temporary fund to assist rebel groups, during talks in Rome. French Foreign Minister Alain Juppe says the fund should be operational within weeks. The group of Nato countries, Arab states and other nations are discussing ways to increase pressure on Col Muammar Gaddafi.
Maersk Oil supports Extractive Industries Transparency InitiativeMaersk Oil has decided to support the Extractive Industries Transparency Initiative (EITI) as part of its transparency and anti-corruption activities.. The EITI is a globally developed standard that promotes revenue transparency at the national level through public reporting of company payments and government revenues. The objective is to strengthen governance through increased transparency on the revenues governments receive from the extractive industries.
Parker Drilling reports first quarter 2011 resultsParker Drilling (NYSE-PKD), a drilling contractor and service provider, today reported results for the 2011 first quarter ended March 31, 2011. The Company's results for the first quarter included net income attributable to controlling interest of $4.8 ...
Pride Intl 1Q profit falls on drilling moratorium
Pride International Inc. said Thursday that its profit tumbled 59 percent in the first quarter as operating costs increased ahead of the company's planned sale to the British oil drilling company Ensco PLC.
Hotel guest Graham Parish died after downing ten-shot drink
Two hotel bar staff have been charged with manslaughter after guest Graham Parish sank a glass filled with ten shots of spirits.
Inebriated Mr Parish was celebrating his 26th birthday when he slumped off his bar stool and was carried from the bar, a court heard.
Transocean Profit Falls 54% .
HOUSTON�Transocean Ltd.'s first-quarter profit dropped 54% as the driller's utilization rate continued to slide, and results missed Wall Street expectations. Transocean is among the oil-and-gas companies contending with a web of lawsuits stemming from their roles in the Deepwater Horizon drilling-rig explosion last year in the Gulf of Mexico, which killed 11 people and caused the biggest offshore oil spill in U.S. history.
As BP Resolves Some Legal Woes, GOP Split on Its Offshore Drilling Fate
BP PLC's settlement yesterday in an Alaskan pipeline case marks the second high-profile legal battle the company has ended since capping its Gulf of Mexico gusher. But that leaves Republicans facing a quandary: Should BP be the exception to their push for more and faster offshore drilling?
Shell starts production from Scotford oil sands upgrader expansion
Shell Canada Energy has started production from the Scotford upgrader expansion project near Edmonton, Canada. The 100,000 b/d expansion increases Scotford's bitumen upgrading capacity to 255,000 b/d.
Petrobras lets subsea system contract for Congro, Corvina fields
Petroleo Brasileiro SA (Petrobras) let a $130 million to FMC Technologies Inc. for the supply of two subsea separation and boosting systems for Congro and Corvina fields, which lie off Brazil in the Campos basin.
Aramco aims for 15.5 bscfd gas production goal by 2015
Saudi Aramco is on track to reach a projected production target of 15.5 bscfd of raw natural gas by 2015, according to Saad A. Turaiki, Aramco vice-president of southern area oil operations.
Artificial island projects off Abu Dhabi expand field operations
The UAE has turned to artificial islands for facilitating oil-field operations off Abu Dhabi.
Shell to Apply for Alaska Offshore-Drilling Permit
HOUSTON�A Shell Oil spokesman said Tuesday the company plans to apply on Wednesday for a federal permit to drill for oil in the Beaufort Sea off the Alaskan shore.
Chevron Piles Into Marcellus Shale
Chevron Corp. is doubling down on a big natural-gas bet by expanding its reach into a large swath of Pennsylvania.
Tax Hits Confidence of North Sea Oil Producers
LONDON�The U.K.'s recent tax increase on North Sea oil and gas production has already had a marked impact on business confidence in the sector, the industry's representative body said Wednesday, ahead of the latest attempt to persuade the government to reverse a March decision to raise the levy on offshore-drilling profits.
Robert Fisk: If this is a US victory, does that mean its forces should go home now?
Iran spoke for many Arabs when it said Bin Laden's death took away the West's reason to have troops in the region. So why are we in Afghanistan? Didn't the Americans and the British go there in 2001 to fight Osama bin Laden? Wasn't he killed on Monday?
Prince Charles to meet Barack Obama in Washington
The prince said servicemen and women were owed an 'immense debt' The Prince of Wales is due to meet US President Barack Obama in Washington on the second day of his visit to the US. Attending an event on Wednesday to support UK and American troops, Charles praised wounded US service personnel, citing their positive outlook on life and "determination" to succeed.
Nato strike 'kills Saif al-Arab Gaddafi', Libya says
A Nato air strike in Tripoli has killed the son of Col Muammar Gaddafi, a Libyan government spokesman has said. Saif al-Arab and three of Col Gaddafi's grandchildren died at a villa in the Bab al-Aziziya compound, he said.
Canada faces fight over oil sands
Investment in Canada's oil sands is picking up after falling during the depths of the global economic recession. However, mounting environmental concerns threaten exports and Canada's next government will have a growing fight on its hands to promote the industry, as Jonah Engle reports. April has been a difficult month for Canadian oil sands producers.
Air France cockpit voice recorder recovered
The cockpit voice recorder from an Air France plane that crashed into the Atlantic two years ago has been found, French investigators have said. The discovery comes two days after the airliner's flight data recorder was also retrieved from the ocean.
Ticket sellers agree to anti-fraud move
Two of the biggest live event organisers in the UK have agreed to a police idea to protect people from fraudulent ticket websites. Festival Republic and Livenation will send out tickets as soon as possible, rather than waiting, sometimes for six months, until just before performances.
Libya crisis: UN leaves Tripoli amid mob attacks
The UN has withdrawn all its international staff from the Libyan capital Tripoli following a mob attack on its offices.UN buildings and some foreign missions were targeted by angry crowds following a Nato air strike that reportedly killed a son of Col Gaddafi.
Egypt urges US to back Palestinian state declaration
The Egyptian Foreign Minister Nabil al-Araby has urged the United States to support the declaration of an independent Palestinian state. The call comes after the reconciliation between Hamas and Fatah brokered last week by Egypt. Both Israel and the US have said they will not deal with Hamas, and have until now opposed a unilateral declaration of Palestinian statehood
Centrica threatens to close major UK gas field
Centrica, the owner of British Gas, says it might shut one of its major gas fields because of increased taxes. The company is closing three fields in Morecambe Bay for a month of maintenance, and says it might not reopen one of them. In his Budget, Chancellor George Osborne raised supplementary tax on oil and gas production from 20% to 32%.
British boxing legend Sir Henry Cooper dies aged 76
Heavyweight boxing legend Sir Henry Cooper has died at the age of 76 at his son's house in Oxted, Surrey. The former British, Commonwealth and European champion fought 55 times and is revered for his 1963 knockdown of Muhammad Ali - then Cassius Clay
Al-Qaeda leader Osama Bin Laden dead - Barack
Al-Qaeda leader Osama Bin Laden has been killed by US forces in Pakistan, President Barack Obama has said. The al-Qaeda leader was killed in a ground operation outside Islamabad based on US intelligence, the first lead for which emerged last August.Mr Obama said after "a firefight", US forces took possession of his body.
US Gas Rig Count Climbs By Four This Week To 882 -Baker Hughes
HOUSTON (Dow Jones)--The number of rigs drilling for natural gas and oil in the US increased over the last week, Baker Hughes Inc. (BHI) said Friday. There were 882 rigs drilling for natural gas in the US during the week ended Friday,
Shell Tries to Calm Fears on Drilling in Alaska
But BP's Deepwater Horizon disaster a year ago put a chill on new offshore drilling. Shell's renewed application will pose a test for President Obama, who promised to put safety first after the BP spill. But he has also reiterated his support for ...
Taranaki set for deep sea drilling
US independent energy giant Anadarko Petroleum has confirmed it intends drilling the well in what is known as the Deepwater Taranaki Basin. There will be more details of what is planned, and when, at a big oil and gas conference in New Plymouth next ...
Nemex makes steady ASX debut
The company said it expected to begin drilling at its Mid West projects in the third quarter of 2011 and drilling at its Coastal Iron Project in Guinea later this year. Nemex's managing director Dr Peter Turner said the company's portfolio was highly ...
The Effect of Oil Prices on Oil Drilling in the U.S.
Oil markets have changed dramatically in the past couple of decades or so. Except for a few years following the second Oil Embargo - prices got as high as $60 (in 2005 $) a barrel in 1981 - real prices have tended to be below $25 a barrel through about 1999.
Cut Off drilling operation continues
THIBODAUX � A dispute between Lafourche Parish and the operators at a drilling site in Cut Off has ground to an impasse as the drill draws closer to reaching its target 13,400 feet underground
Statoil Secures New Light Well Intervention Vessel
Statoil has awarded Island Offshore a framework agreement for a new light well intervention (LWI) vessel on the Norwegian continental shelf (NCS). The third of its type in Statoil's portfolio the vessel will help reduce the costs of well interventions and enhanced oil recovery
Scots Energy firms home in on Houston
Leading figures from Scotland�s oil and gas business are arriving in the US city of Houston for the world�s top industry show.
Nexen poised to go ahead with Golden Eagle development
Oil and gas operator Nexen said yesterday it was ready to proceed with the development of Golden Eagle in the UK North Sea.
Ithaca on the lookout for new assets as profits jump
North Sea oil and gas firm Ithaca Energy raised reserve estimates yesterday as it revealed a jump in profits and said it was still scouting for new assets on the UK continental shelf.
Outlook is still bright for the mega deals in energy sector
Mega deals in the oil and gas sector are still very much on the agenda, according to PwC�s latest global deal trends report out yesterday.
Transocean claims record sea depth for oil drilling
ZURICH � Offshore oil drilling group Transocean claimed Tuesday that it had a set a world record for deep water drilling at an ocean depth of 3,107 metres (10,194 feet) off the coast of India.
The depth was achieved by the ultra-deepwater drillship Dhirubhai Deepwater KG2, surpassing the previous record of 10,011 feet, also set by Transocean in 2003 in the Gulf of Mexico, the group said in a statement.
Halliburton wins oil services contract in Iraq
Halliburton Co. said Monday that it has been contracted by Exxon Mobil Corp. to use three drilling rigs to provide oil drilling services at a large field under development in southern Iraq. The contract from ExxonMobil Iraq Ltd. covers services for 15 ...
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