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Latest International Onshore Conventional News

Upstream News

Sep 1, 2012

Newbuild and replacement cost functions

Sep 1, 2012

Newbuild and replacement cost functions provide insight into the factors that influence costs and are used by investors, companies, government agencies, and other stakeholders to evaluate newbuild programs or the value of an existing rig or fleet.

Gulf of Mexico oil shut in volumes hit 78% as operators prepare for Isaac

Aug 28, 2012

As of Tuesday morning, The Bureau of Safety and Environmental Enforcement (BSEE) said that 78% of Gulf of Mexico (GoM)  production was shut in.

Isaac takes aim at Louisiana coast

Aug 27, 2012

Monday evening, Tropical Storm Isaac was reported by NOAA to be gathering strength and nearing hurricane status as it slowly closes in on coastal Louisiana south-southwest of New Orleans.

Tropical Storm Isaac a little stronger, tilting west

Aug 24, 2012

The National Hurricane Center out of Miami, FL indicated in its 8am ET advisory that Tropical Storm Isaac has gotten stronger.

Baker Hughes wins $508M contract for services offshore Norway

Aug 21, 2012

Baker Hughes Inc. has won a $508 million contract for services in 25 fields offshore Norway, according to a note by Global Hunter Securities (GHS) August 21.

Lundin starts second Malaysian well

Aug 3, 2012

Lundin Petroleum AB has commenced the second well in its 2012 Malaysian drilling campaign with the spud of Berangan 1 exploration well in SB303 Block, offshore Sabah, Malaysia.

Newbuild and replacement cost functions

Jul 1, 2012

Rigs are the primary assets of drilling contractors and their newbuild and replacement costs are frequently required in corporate planning and financial valuation.

Increased complexity presents big data challenges for industry

Jul 1, 2012

According to Goldman Sachs, more than $1.2 trillion will be spent in the next five years on oil and gas projects around the world.

GeoPetro acquires 100% working interest in Swan Hills Project in Alberta

Jun 27, 2012

GeoPetro Resources Company [NYSE Amex: GPR] said June 27 that it now owns 100% working interest in the Swan Hills Project, central Alberta, Canada through its wholly owned subsidiary GeoPetro Canada Ltd.

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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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