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  • OIL MARKETS

    Welcome to the Oil and Gas Financial Journal's Oil Markets Page containing news reported with the Oil & Gas Financial Industry perspective.

    SECTIONS: OGJ150 | OGFJ100P
    COMPANIES | OIL MARKET WATCH


    ConocoPhillips

    Latest ConocoPhillips News

    Chevron, BP, and ConocoPhillips form Gulf of Mexico alliance

    Chevron Corp.’s subsidiary, Chevron USA Inc., will work with BP and ConocoPhillips to explore and appraise 24 jointly held offshore leases in the northwest portion of Keathley Canyon in the deepwater Gulf of Mexico. Chevron will be the operator.

    Frank’s International names new president and CEO, and new board member

    Frank’s International NV has appointed Gary Luquette as president and CEO, succeeding D. Keith Mosing. Luquette will continue to serve on the company’s board of supervisory directors, and Mosing will remain actively involved in the strategic direction of the company and will serve as executive chairman. William B. Berry has also been elected to serve on the company's board of directors.

    Spectra Energy to acquire equity interests in BIG

    Through their affiliate, Spectra Energy Transmission II LLC, Spectra Energy Corp. and Spectra Energy Partners have entered into a purchase and sale agreement to acquire from ConocoPhillips Co. 100% of the equity interests in Brazoria Interconnector Gas Pipeline LLC (BIG), which owns the BIG pipeline.

    Apache appoints new president and CEO as Farris retires

    Steven Farris, chairman, president, and CEO of Apache Corp. will be retiring, effective Jan. 20. He will continue as non-executive chairman of the board until May 1, at which time he will retire from the board. John J. Christmann IV, Apache's executive vice president and COO for North America, will succeed Farris as president and CEO, and will join Apache's board on Jan. 20.

    ConocoPhillips appoints two new board members

    ConocoPhillips has appointed John Faraci, former chairman and CEO of International Paper Co., and Arjun Murti, former partner at Goldman Sachs, to the company’s board of directors.

    Apache, Schlumberger, ConocoPhillps, BP to cut jobs amid oil price slide

    Apache, Schlumberger, ConocoPhillips, and BP are all implementing job cuts in the midst of slumping oil prices. Their actions follow oilfield companies like Halliburton, which began layoffs from its global operations in December 2014.

    Sustained low oil prices may slow MLP growth, speed up M&A

    The sharp drop in oil prices and announced revisions to exploration and production (E&P) capital expenditure (CAPEX) budgets should not impact master limited partnership (MLP) spending in the short run, but a sustained price drop could ramp up merger and acquisition (M&A) activity in the space, according to Fitch Ratings.

    Det norske oljeselskap appoints Henriksen as SVP Projects

    Det norske oljeselskap ASA has appointed Olav Henriksen to the position of senior vice president of projects. He will take up this new role on Jan. 19, 2015.

    OGJ150

    Gulfport Energy names Gaydosik CFO

    Jul 10, 2014 Gulfport Energy Corp. has appointed Aaron Gaydosik to serve as CFO. Most recently, Gaydosik served as vice president of finance at Kodiak Oil &...

    Revenue, net income show small increases in 4Q2012

    May 1, 2013 Revenues for the group of publicly-traded US-based companies tracked by Oil & Gas Journal and Oil & Gas Financial Journal grew in the final...

    Helix completes sale of oil and gas business

    Feb 6, 2013 Helix Energy Solutions Group Inc.has closed the previously announced sale of Energy Resource Technology GOM Inc. (ERT), the company’s oil and gas s...

    Revenue, net income drop sharply in 3Q12

    Feb 1, 2013 Revenues for the group of publicly-traded US-based companies tracked by Oil & Gas Journal and Oil & Gas Financial Journal continued their d...

    WPX Energy makes natural gas discovery in Niobrara formation

    Jan 23, 2013 Tulsa, OK-based oil and gas exploration and production company WPX Energy said January 22 that a recent Niobrara gas discovery in western Colorado ...

    OGFJ100P

    LLOG makes deepwater Gulf of Mexico discovery

    Oct 23, 2014 Covington, LA-based LLOG Exploration and its partner, Ridgewood Energy, drilled a successful exploration test at the Mississippi Canyon 79 “Otis” p...

    Vantage Energy files for $400M IPO

    Jul 8, 2014

    Vantage Energy Inc., a privately-held oil and gas company, plans to raise approximately $400 million in an IPO. 

    Rock Oil increases capital commitment, adds to management

    Jun 10, 2014 Wells Fargo Energy Capital and BNP Paribas have made investments and capital commitments to Rock Oil Holdings LLC. In addition, Rock Oil has named ...

    AEPB acquires Permian leasehold for $2.5B

    Jun 9, 2014 American Energy – Permian Basin LLC, an affiliate of American Energy Partners LP, has signed an agreement to acquire approximately 63,000 net acres...

    FourPoint raises $1B in capital, partners with EnerVest in Anadarko Basin

    Jan 31, 2014 FourPoint Energy LLC has acquired certain producing and undeveloped oil and gas properties and related midstream assets in the Western Anadarko Bas...

    Oil & Gas Companies

    Faroe, Lundin, and Cairn awarded exploration licenses in Norway

    Faroe Petroleum plc, Lundin Petroleum AB, and Cairn Energy have been awarded exploration licenses under the 2014 Norwegian APA (Awards in Pre-defined Areas) License Round.

    Óleo e Gás Participações loses two executives, reduces workforce 40%

    Brazilian oil and natural gas company Óleo e Gás Participações SA has advised its shareholders that Reinaldo José Belotti Vargas, production director, has resigned, and that Gilberto Carvalho Lima, exploration director, has been dismissed from the...

    Talisman Sinopec Energy UK plans to eliminate 300 jobs

    Talisman Sinopec Energy UK plans to eliminate 300 jobs due to plummeting oil prices and rising operating costs, according to Reuters.

    Pemex to save US$1.45B in four years by streamlining practices

    Over the next four years, Pemex expects to achieve efficiency savings of more than 21 billion pesos in the area of procurement and supply. Of these savings, 35% corresponded to 2014. The other 65% will be achieved from 2015 to 2018.

    Det norske reports production startup in Bøyla field

    Det norske oljeselskap ASA and partners of the PL 340 license have begun production in the Bøyla field. With that, Bøyla is the fourth field in production in the Alvheim area.

    Production starts up at Lucius oil field in Gulf of Mexico

    Eni reports that production has started up from the Lucius field in the Gulf of Mexico approximately 240 miles south of Louisiana.

    Inpex sees first oil from Lucius field in Gulf of Mexico

    Inpex Corp. reported first production on Jan. 16 at the Lucius oil field, which includes portions of Keathley Canyon blocks 874, 875, 918, and 919 in the US Gulf of Mexico. Inpex is involved in the project through subsidiary Teikoku Oil (North Ame...