Latest News

Halliburton, PETRONAS Carigali collaborate on evaluation, development of shale resources

Fri, 10 Feb 2012 21:51:00 GMT

Halliburton has signed an agreement with PETRONAS Carigali Sdn Bhd, the national oil company of Malaysia, for the evaluation and development of global shale resources.

San Leon completes second Polish shale gas exploration well

Fri, 10 Feb 2012 19:29:00 GMT

Europe and North Africa-focused San Leon Energy said today that it has successfully completed its second shale gas exploration well in Poland's Baltic Basin.

Petrobras names new CEO

Fri, 10 Feb 2012 19:01:00 GMT

Petrobras has elected Maria das Graças Silva Foster as CEO, taking over from José Sergio Gabrielli de Azevedo. Gabrielli will remain in office until next Monday, February 13th, when the new CEO will take office.

Quicksilver Resources files $250M IPO to reduce debt

Fri, 10 Feb 2012 17:27:00 GMT

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.

Copano adds to Eagle Ford presence with pipeline expansion, new long term contract

Fri, 10 Feb 2012 16:51:00 GMT

Midstream natural gas company Copano Energy LLC will extend its wholly-owned 96-mile, 24-inch DK Pipeline in the Eagle Ford Shale play by adding approximately 65 miles of 24-inch pipeline southwest into McMullen County, Texas.

Global NuTech acquires petrochemical services company Fishbone Solutions

Fri, 10 Feb 2012 16:19:00 GMT

Global NuTech Inc., dba Texas Gulf Energy Inc., has acquired 100% of the equity interests of Texas-based Fishbone Solutions Ltd.

JV agreements played key role in 2011 E&P funding

Wed, 08 Feb 2012 23:10:00 GMT

Following a rise in popularity in the oil and gas upstream sector in 2010, joint venture agreements played a dominant role as a source of low cost funding in 2011—with unconventional resources drawing the most attention, noted analyst at Stifel Nicolaus.

Southcross expands natural gas processing complex in Eagle Ford area

Wed, 08 Feb 2012 21:36:00 GMT

To expand its ability to serve oil and gas producers operating in the Eagle Ford Shale, Southcross Energy has begun construction of a fractionator and natural gas liquids and residue pipeline outlets in South Texas.

Shale driving M&A activity in US oil and gas sector

Wed, 08 Feb 2012 16:25:00 GMT

The total value of US oil and gas mergers and acquisitions increased significantly in 2011 due to continued investment in US shale plays and related infrastructure, sustained interest from foreign buyers, and private equity entrants deploying capital in the energy industry, according to an analysis of energy M&A data by PwC US.

Wolford named senior VP at Noble

Tue, 07 Feb 2012 19:01:00 GMT

Noble Corp. has named Bernie G. Wolford to the position of senior vice president - operations.

Quantum Energy Partners forms Renaissance to acquire offshore oil, gas properties

Tue, 07 Feb 2012 16:28:00 GMT

Houston-based private equity firm Quantum Energy Partners has once again formed a company to acquire US oil and gas properties, reports Bloomberg. Only this time, the newly-formed company will focus on offshore US oil fields.

OpenLink announces availability of Russian energy market implementation accelerators

Tue, 07 Feb 2012 15:56:00 GMT

OpenLink Financial LLC, a provider of energy, commodities, trading, and risk management solutions, recently had their advanced implementation market acceleration packages validated at an energy industry event in Moscow, Russia.

J-W Energy names Harris president of J-W Wireline

Mon, 06 Feb 2012 18:12:00 GMT

J-W Energy Co. has named Perry A. Harris to the position of president of J-W Wireline Co. Harris has over 30 years of senior management experience in the oil and gas industry.

DA Davidson & Co. acquires McGladrey Capital Markets

Mon, 06 Feb 2012 16:09:00 GMT

D.A. Davidson & Co., a national full-service investment firm based in the Northwest, has acquired McGladrey Capital Markets LLC (MCM), an investment banking firm headquartered in Costa Mesa, California.

Expro opens operations base in Newfoundland

Mon, 06 Feb 2012 16:04:00 GMT

Expro, an international oilfield services company, has opened a new operations base in Paradise, Newfoundland, Canada, that will support the provision of well testing, subsea and downhole video services for offshore Newfoundland in the North Atlantic.

J-W Energy restructures midstream subsidiaries

Fri, 03 Feb 2012 18:43:00 GMT

J-W Energy Co. is has formed J-W Midstream Co. The new entity will consolidate J-W Energy Co.'s midstream activities currently conducted by J-W Gathering Co., J-W Pipeline Co. and Q-West Energy Co.

Weekly Update: SandRidge makes a swoop for Dynamic Offshore Resources

Fri, 03 Feb 2012 16:16:00 GMT

SandRidge Energy made a move for private Gulf of Mexico company, Dynamic Offshore Resources this week, in a cash and stock deal worth $1.26 billion.

Subsea 7 wins BP contract for Clair Ridge project

Thu, 02 Feb 2012 23:15:00 GMT

Subsea 7 SA has been awarded of a contract valued at approximately $100 million from BP Exploration Operating Co. Ltd. for the Clair Ridge Project, West of Shetland.

Murphy oil announces executive promotions

Thu, 02 Feb 2012 22:51:00 GMT

Murphy Oil Corp. (NYSE:MUR) has made two executive promotions.

Rosneft, Sberbank sign deal to buy into Taas-Yuryakh project

Thu, 02 Feb 2012 22:40:00 GMT

Russia’s state-controlled oil company Rosneft and Sberbank signed a tentative agreement on the acquisition by Rosneft of a 35.3% stake in Taas-Yuryakh Neftegazodobycha.

SandRidge Energy to acquire Dynamic Offshore Resources for $1.275B

Thu, 02 Feb 2012 21:37:00 GMT

SandRidge Energy Inc. has entered into an agreement to acquire Dynamic Offshore Resources LLC for aggregate consideration of $1.275 billion consisting of approximately $680 million in cash and approximately 74 million shares of SandRidge common stock valued at $8.02 per share.

PetroFrontier names Scott COO

Wed, 01 Feb 2012 16:35:00 GMT

PetroFrontier Corp. has appointed Earl Scott as COO of PetroFrontier and president of its two wholly-owned Australian subsidiaries, PetroFrontier (Australia) Pty. Ltd. and Texalta (Australia) Pty. Ltd.

Global NuTech acquires Texas Gulf Oil and Gas

Wed, 01 Feb 2012 16:12:00 GMT

Global NuTech Inc. has acquired 100% of the stock of Houston, Texas-based Texas Gulf Oil & Gas Inc.

Geoscientists to debate hydraulic fracturing Feb. 7 at University of Tulsa

Wed, 01 Feb 2012 16:01:00 GMT

The University of Tulsa College of Law and the National Energy Policy Institute will host a discussion on hydraulic fracturing on Feb. 7 in the Great Hall at TU’s Allen Chapman Activity Center, 440 S. Gary Ave, in Tulsa Oklahoma. This is the fourth in a series of annual lectures sponsored by Chesapeake Energy.

Attorney Strawn joins Burleson as of counsel

Tue, 31 Jan 2012 16:36:00 GMT

James “Jim” Strawn, who has more than three decades of experience as an oil and gas attorney, has joined energy law firm Burleson LLP in the Pittsburgh location as Of Counsel.

Reservoir Group names McCutcheon COO

Tue, 31 Jan 2012 16:24:00 GMT

Reservoir Group has appointed Wade McCutcheon as chief operating officer.

Opportune promotes three to managing director

Mon, 30 Jan 2012 19:42:00 GMT

Alan Allen, Kurt King, and Lynn Loden have all been promoted to the position of managing director at Opportune LLP, the company said January 27.

MLV expands energy sector equity research team with Peterson appointment

Mon, 30 Jan 2012 18:29:00 GMT

Michael D. Peterson has joined the equity research team of MLV & Co., a boutique investment bank focused on capital intensive industries, as managing director and senior energy research analyst where he will expand MLV's product offerings in the energy sector.

Weekly Update: Apache, Crescent Point Energy play it safe with bolt-on acquisitions

Fri, 27 Jan 2012 16:57:00 GMT

This week’s upstream M&A was dominated by two large bolt-on acquisitions by Apache and Crescent Point Energy, within North America.

Schenato to help meet objectives in Ukraine as COO of Cadogan

Thu, 26 Jan 2012 19:27:00 GMT

Adelmo Schenato will join Cadogan Petroleum plc, an independent oil and gas exploration, development and production company with onshore gas and condensate assets in Ukraine, as chief operating officer. He has also been appointed as a director of the company.

Range Resources signs second ethane agreement

Thu, 26 Jan 2012 18:22:00 GMT

A subsidiary of Range Resources Corp. has signed an agreement to ship up to 20,000 barrels of ethane per day on Enterprise Products Partners LP's Appalachia-to-Texas ethane pipeline (ATEX Express).

More positive results for Far East Energy Shouyang Block appraisal wells

Thu, 26 Jan 2012 16:43:00 GMT

Far East Energy Corp. confirmed positive test results from three more appraisal wells located at significant distances from the 1H Pilot Area in the company’s Shouyang Block.

Californian blames Houston for job woes

Thu, 26 Jan 2012 15:53:00 GMT

In January, OGFJ printed a letter from a reader in California who chastised the petroleum industry for creating worker shortages by “consolidating their businesses to Houston and the Gulf Coast.” We invited readers to give us their thoughts. Here are excerpts from a few:

Shaw resigns Transocean VP post

Thu, 26 Jan 2012 00:01:00 GMT

Robert S. Shaw notified Transocean Ltd. of his resignation as vice president, controller, and principal accounting officer to pursue other opportunities.

Texcom opens new liquid disposal site in heart of Eagle Ford Shale

Wed, 25 Jan 2012 18:48:00 GMT

Houston-based TexCom Inc., an environmental services company for the oil and gas industry, has opened its new liquid disposal site, owned and operated by its wholly owned subsidiary Eagle Ford Environmental Services LLC.

Faroe Petroleum adds to management team

Wed, 25 Jan 2012 18:04:00 GMT

Faroe Petroleum plc has made three new senior appointments.

Africa focused Ophir names Mitchell CFO

Wed, 25 Jan 2012 17:58:00 GMT

Ophir Energy plc has named Lisa Mitchell as CFO.

New energy private equity firm Stellus Capital Management spins off from DE Shaw

Wed, 25 Jan 2012 15:59:00 GMT

Private investment firm Stellus Capital Management has completed its spin off from the D. E. Shaw Group. The Houston-based former direct investment unit of D.E. Shaw will continue its focus on making equity and debt investments in North American energy companies, particularly in upstream oil and gas businesses.

Kristoffersen appointed SVP at Total

Tue, 24 Jan 2012 16:10:00 GMT

Helle Kristoffersen has been appointed senior vice president, Strategy & Business Intelligence at Total.

Apache to acquire Cordillera Energy Partners for $2.85B

Mon, 23 Jan 2012 18:12:00 GMT

Apache Corp. has agreed to acquire Denver-based Cordillera Energy Partners III LLC, a privately held company with substantial operations that include approximately 254,000 net acres in the Granite Wash, Tonkawa, Cleveland and Marmaton plays in western Oklahoma and the Texas Panhandle, for $2.85 billion.

Weekly Update: Pembina, Provident merge in $3.6B deal

Fri, 20 Jan 2012 22:30:00 GMT

The largest deal in a lacklustre week for E&P deals came from PetroBakken’s divestiture of its 2.2% interest in the Weyburn unit in Saskatchewan for C$105 million.

Pembina to buy Provident Energy in $3.1B deal

Tue, 17 Jan 2012 18:31:00 GMT

Pembina Pipeline Corp. has agreed to acquire all of the issued and outstanding common shares of Provident Energy Ltd.

Surmont Energy completes Alberta oilsands 3-D seismic program

Tue, 17 Jan 2012 18:08:00 GMT

Calgary-based private company Surmont Energy Ltd., in conjunction with its operating partner Bounty Developments Ltd., has completed field acquisition of a $3 million 13 square kilometer 3-D seismic program southwest of Ft. McMurray, Alberta.

Monterey Shale’s Venoco plans merger

Tue, 17 Jan 2012 16:06:00 GMT

Venoco Inc., an independent energy company with substantial holdings in California’s oily Monterey Shale, said Jan. 16 that it has entered into a definitive merger agreement under which Timothy M. Marquez, Venoco’s chairman and CEO, who controls 50.3% of Venoco’s common stock, will acquire Venoco through a wholly owned entity, Denver Parent Corp.

Harvest Operations names new CEO, CFO

Mon, 16 Jan 2012 19:09:00 GMT

John E. Zahary will step down from his position as president and CEO of Harvest Operations Corp., effective January 21, 2012.

Aon to move corporate headquarters to London

Fri, 13 Jan 2012 20:40:00 GMT

Aon Corp., a provider of risk management and HR solutions, plans to move its corporate headquarters to London.

OMV appoints Deutsche Bank to handle divestment program

Fri, 13 Jan 2012 20:28:00 GMT

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.

Weekly Update: Chevron, Statoil, Repsol enter partnership in Canadian Atlantic

Fri, 13 Jan 2012 19:00:00 GMT

After the extremely busy start to 2012 last week, M&A activity slowed down considerably this week, with only a few deals breaking $100 million.

ANGA applauds White House commitment to natural gas

Fri, 13 Jan 2012 17:47:00 GMT

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.

Opportune promotes Flanagan to partner

Thu, 12 Jan 2012 23:12:00 GMT

Opportune LLP has promoted Matt Flanagan to partner.