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  • UPSTREAM

    SECTIONS: INTERNATIONAL | NORTH AMERICA

     

    LATEST UPSTREAM NEWS

    NZEC relinquishes East Cape permit in New Zealand

    May 22, 2015

    New Zealand Energy Corp. has relinquished Petroleum Exploration Permit (PEP) 52976 (East Cape) in the East Coast Basin of New Zealand’s North Island.

    Enable Midstream completes initial phase of gathering system in Bakken

    May 22, 2015

    Enable Midstream Partners LP says that the first phase of its Nesson Crude & Produced Water Gathering System is operational. The pipeline serves wells located in Williams and Mountrail counties of North Dakota, in the Bakken shale play.

    Sabine enters into forbearance agreement to second lien term loan facility

    May 22, 2015

    Sabine Oil & Gas Corp. has entered into a forbearance agreement with the lenders under its second lien term loan facility. The forbearance agreement will provide the company with additional flexibility as it continues discussions with its creditors and their respective professionals regarding the company's debt and capital structure. 

    Vanguard to acquire Eagle Rock Energy Partners for $614 million

    May 22, 2015

    Vanguard Natural Resources LLC and Eagle Rock Energy Partners LP have entered into an agreement and plan of merger pursuant to which a subsidiary of Vanguard will merge into Eagle Rock for total consideration of $474 million in Vanguard common units and the assumption of Eagle Rock's net debt of $140 million as of March 31.

    NuEnergy acquires Dart Indonesia's CBM assets in Sumatra, Kalimantan

    May 21, 2015

    NuEnergy Gas Ltd., an Australian gas and ancillary power generation development company focused on unconventional gas exploration and production in Indonesia, disclosed May 21 the conditional share purchase agreement with Dart Energy International Ltd. on May 20 to acquire 100% of the issued share capital of Dart Energy (Indonesia) Holdings Pte. Ltd.

    WoodMac: XOM oil discovery could create tension between Guyana, Venezuela

    May 21, 2015

    Yesterday, oil giant Exxon Mobil Corp. announced an oil discovery on the 6.6 million-acre Stabroek Block, offshore Guyana. If proven commercially viable, the Liza-1 find could “finally put Guyana on the map,” but it has the potential to create tension between Guyana and Venezuela,” according to Wood Mackenzie.

    Caiman Energy and Blue Racer Midstream appoint new CEO and CFO

    May 21, 2015

    Stephen Arata has been named CEO of both Caiman Energy II LLC and Blue Racer Midstream LLC, following Jack Lafield’s resignation as CEO of both companies. Lafield will continue to serve as chairman of Caiman Energy II and remains a member of Blue Racer’s board of directors.

    GlobalData: Core Bakken assets remain economical despite low oil prices

    May 21, 2015

    While the 12 counties with Bakken production between North Dakota and Montana have lost the majority of their horizontal rigs over the last eight months, core areas of the shale play remain attractive, especially as oil prices creep toward $70 per barrel, says an analyst with research and consulting firm GlobalData.

    Summit Midstream Partners closes acquisitions in Williston Basin

    May 19, 2015

    Summit Midstream Partners LP’s wholly owned subsidiary, Bison Midstream LLC, has closed its acquisition of 100% of the equity interests of certain subsidiaries of Summit Midstream Partners LLC for total cash consideration of $255 million.

    DW comments on US oilfield services rebalancing act

    May 18, 2015

    In Douglas-Westwood’s May 18 DW Monday, the company discusses its expectations for the oilfield services market.

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    INTERNATIONAL UPSTREAM

    Carnarvon to explore two permits in Barrow sub-basin

    Jun 5, 2014

    Carnarvon Petroleum Ltd. has been awarded two contiguous blocks on the eastern flank of the prolific oil producing Barrow sub-basin: Petroleum Exploration Permit EP-490 (bid block L11-6) and TP/27 (bid block T11-3) offshore Western Australia. Carnarvon is the operator and 100% working interest holder in these blocks, which cover a total area of 675 square miles (1,750 square kilometers).

    Report predicts surge in world subsea expenditure

    Jun 5, 2014

    Global subsea hardware capex could total $117 billion between 2014 and 2018, according to Douglas-Westwood’s latest market forecast.

    Hitachi Solutions Canada to unveil JV solution for oil and gas industry

    Jun 4, 2014

    Hitachi Solutions Canada, a global provider of industry solutions based on Microsoft Dynamics AX, will be launching an oil and gas joint venture solution using Microsoft Dynamics AX 2012.

    Primoris wins underground contract work valued at over $10 M

    Jun 2, 2014

    Primoris Services Corp. has received a new contract award from a midstream oil and gas customer. The new contract was secured by Sprint Pipeline Services, a division of Primoris Energy Services, a Primoris subsidiary and part of the East Construction Service segment.

    NORTH AMERICA UPSTREAM

    Alpha Crude Connector to conduct open season

    Jun 2, 2014 Alpha Crude Connector LLC intends to conduct an open season for the Alpha Crude Connector pipeline, a new FERC-regulated crude oil transportation pipeline to be located in Lea and Eddy counties in ...

    MicroSeismic names Foster as president and CEO

    May 30, 2014

    MicroSeismic Inc. has appointed Jeff Foster as the company’s president and CEO. Founder of the company and past CEO, Peter M. Duncan, will continue with MicroSeismic as co-chairman.

    KMP to expand carbon-dioxide infrastructure

    May 8, 2014

    Kinder Morgan Energy Partners LP is set to invest $671 million to grow its carbon-dioxide infrastructure in southwestern Colorado and New Mexico.

    TPC Group expands polyisobutylene capacity

    May 1, 2014

    TPC Group, a provider of C4 based products and services, has achieved a milestone in its comprehensive expansion program to increase polyisobutylene capacity.

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