Latest Oil Market News

Shell makes move towards Kenya, Mozambique with $1.56B offer for Cove Energy

Royal Dutch Shell is making a move to enter the hydrocarbon-rich areas of Kenya and Mozambique with a proposed offer to acquire Cove Energy plc for US$1.56 billion (GBP 992.4 million).

Chesapeake Energy targets $10-$12B in asset monetizations

Chesapeake Energy Corp. provided details on its financial plan to fully fund the company’s anticipated capital expenditures during 2012 and provide additional liquidity for 2013.

Quicksilver Resources files $250M IPO to reduce debt

Quicksilver Production Partners LP, a wholly-owned subsidiary of Quicksilver Resources Inc., filed a registration statement February 10, 2012, on Form S-1 with the US SEC related to the proposed IPO of common units representing limited partner interests.

OMV appoints Deutsche Bank to handle divestment program

Deutsche Bank has been appointed as the investment bank to handle the structuring and implementation of the divestment program in the R&M business segment.

ANGA applauds White House commitment to natural gas

The following is a statement by Regina Hopper, president and CEO of America's Natural Gas Alliance (AN GA), on the recent White House briefing paper on “Investing in America,” which highlights the key role American natural gas can play in advancing our nation’s economic recovery.

ConocoPhillips names additional executives for post-split companies

ConocoPhillips has made additional appointments to the executive management teams for the two energy companies that will be created when ConocoPhillips completes its strategic repositioning, expected in the second quarter of this year.

Survey shows capital spending to rise in 2012

According to a just-released survey by Dahlman Rose & Co., oil and gas companies are projected to spend more for exploration and production this year in spite of slow economic growth and concerns about sovereign debt in Europe and elsewhere globally.

OGFJ100P company update

Independent research firm IHS Herold Inc. has provided OGFJ with updated production data for our periodic ranking of US-based private E&P companies.

Weekly Update: Shell and ENI gamble on Nigeria whilst Total plays it safe in North Sea

There were three large deals by super majors this week as Total played it safe by acquiring a producing North Sea asset whilst Royal Dutch Shell and ENI opted for a high risk but high reward asset in Nigeria.

Royale looks to add oil to its portfolio with Alaska acreage

Royale Energy Inc. was selected by the State of Alaska as a winning bidder on acreage in the North Slope Area wide lease sale.

Top 10 Year-to-Date Production ranked by BOE

Rank
Company
BOE
1 Aera Energy LLC 43,862,429
2 Merit Energy 26,940,000
3 Samson Lone Star LLC 22,035,784
4 Hilcorp Energy Co. 16,424,462
5 Samson Resources Co. 14,450,223
6 Yates Petroleum Corp 12,992,263
7 Walter Oil & Gas Corp. 9,656,787
8 Hunt Oil Co. 8,728,389
9 Enervest Operating LLC 8,564,804
10 Citation Oil & Gas Corp 8,428,543

Top 10 Canadian oil and gas production:  YE 2007

Rank
Company

Daily
Canadian BOE/D

1 Canadian Natural Resources 520,612
2 EnCana Corp 490,459
3 Husky Energy Inc. 363,851
4 Imperial Oil Ltd. 351,333
5 Suncor Energy Inc. 308,267
6 Petro-Canada 267,993
7 ConocoPhillips 230,333
8 Talisman Energy Inc. 174,999
9 Devon Energy Corp. 159,087
10 Penn West Energy Trust 127,094