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LATEST UPSTREAM NEWS

Baker Hughes and Aker Solutions form subsea production alliance

Apr 22, 2014

Baker Hughes Inc. and Aker Solutions ASA have agreed to form an alliance to develop technology for production solutions that will boost output, increase recovery rates, and reduce costs for subsea fields.

Trendsetter promotes Downing to president

Apr 21, 2014

Trendsetter Engineering Inc. has promoted Ron Downing to the position of president.  Downing assumes this responsibility from Mario Lugo who remains chairman and CEO.

Oando increases deposit for acquisition of Nigerian upstream business

Apr 21, 2014

Oando Energy Resources Inc. has paid a previously agreed upon deposit of $25 million for the extension of the outside completion date for its acquisition of ConocoPhillips’ Nigerian upstream oil and gas business.

Shale participation on the rise

Apr 21, 2014

More than half of oilfield services companies and 40% of upstream companies expect shale oil and gas plays to provide the majority of their revenues in 2014, according to a global industry survey by UHY LLP Certified Public Accountants and Oil & Gas Financial Journal. This is an increase of about 15% from 2013 levels in the number of oilfield services and upstream companies for which shale is the source of a majority of revenues.

Shell reports Malaysia deepwater gas discovery

Apr 18, 2014

Shell has announced an exploration discovery offshore Malaysia. The successful Rosmari-1 well is located 135 kilometers offshore in Block SK318, and was drilled to a total depth of 2,123 meters.

Saipem awarded FPSO contracts in Angola

Apr 18, 2014

Total has awarded Saipem two contracts in Angola for a combined total of more than $4 billion.

Total discovers oil in deep water offshore Ivory Coast

Apr 17, 2014

The Total-operated Saphir-1XB exploration well on Block CI-514 has proved the presence of liquid hydrocarbons in the deep offshore west of the Ivory Coast.

CIT appoints Friant as managing director

Apr 15, 2014

CIT Group Inc., a provider of financing and advisory services to small businesses and middle market companies, has appointed Todd Friant managing director of CIT Corporate Finance, Energy.

Total to develop ultra-deep Kaombo project in Angola

Apr 15, 2014

Total and its joint venture partners have made the final investment decision to develop the ultra-deep offshore Kaombo project in Angola. With a production capacity of 230,000 barrels per day, Kaombo will develop estimated reserves of 650 million barrels.

Stabilis Energy to purchase Encana’s domestic LNG business

Apr 15, 2014

Stabilis Energy has signed a definitive agreement to purchase substantially all of the US-based assets of Encana Natural Gas Inc., a subsidiary of Encana Corp.

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INTERNATIONAL UPSTREAM

Baker Hughes and Aker Solutions form subsea production alliance

Apr 22, 2014

Baker Hughes Inc. and Aker Solutions ASA have agreed to form an alliance to develop technology for production solutions that will boost output, increase recovery rates, and reduce costs for subsea fields.

Trendsetter promotes Downing to president

Apr 21, 2014

Trendsetter Engineering Inc. has promoted Ron Downing to the position of president.  Downing assumes this responsibility from Mario Lugo who remains chairman and CEO.

Shale participation on the rise

Apr 21, 2014

More than half of oilfield services companies and 40% of upstream companies expect shale oil and gas plays to provide the majority of their revenues in 2014, according to a global industry survey by UHY LLP Certified Public Accountants and Oil & Gas Financial Journal. This is an increase of about 15% from 2013 levels in the number of oilfield services and upstream companies for which shale is the source of a majority of revenues.

Shell reports Malaysia deepwater gas discovery

Apr 18, 2014

Shell has announced an exploration discovery offshore Malaysia. The successful Rosmari-1 well is located 135 kilometers offshore in Block SK318, and was drilled to a total depth of 2,123 meters.

NORTH AMERICA UPSTREAM

UMED Holdings receives US patent for mobile GTL technology

Mar 26, 2014 UMED Holdings Inc., through its wholly owned subsidiary Greenway Innovative Energy Inc., reports that the US Patent and Trademark Office has issued US Patent 8,574,501 covering the company’s mobile...

CGG and Baker Hughes sign RoqSCAN agreement

Mar 26, 2014

CGG has signed an exclusive agreement with Baker Hughes Inc. for CGG’s RoqSCAN technology as part of their shale science alliance.

Baker Hughes introduces extended-reach coiled tubing services

Mar 25, 2014 Baker Hughes has commercially released its EasyReach extended-reach coiled tubing (CT) service. The company developed the service in response to the growing number of long horizontal wells and the ...

Black Bison acquires salt water disposal property in WY

Mar 20, 2014 Black Bison Water Services LLC,  a provider of services for the disposal of flowback and produced water generated from oil and gas-producing wells, has closed its acquisition of a salt water d...

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