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oilandgaspeople.com 07/22/2019 09:00
Trident Energy has edged a step closer towards the acquisition of Petrobras’ Campos Basin assets Enchova and Pampo for a price of around $1 billion. Petrobras first announced the intention to sell the fields back in 2017. In 2018, the Petrobras said that Ouro Preto Óleo e Gás had been the best bidder, reportedly offering around $1 billion. According to Reuters, Trident Energy had at the time allegedly placed a bid as well, but Ouro’s was a better one. However, the deal between Ouro and Petrobras later collapsed after Ouro reportedly reduced its offer. @hotTipLookingForNextJob@. In a statement on Friday, July 19, Petrobras said that Trident Energy had presented the best final bid for the Pampo and Enchova clusters. Petrobras said Trident had
oilandgaspeople.com 07/22/2019 09:00
Houston-based subsea equipment supplier OneSubsea, a Schlumberger company, has been awarded a 20-year subsea equipment and services master contract for subsea development projects in the Gulf of Mexico by oil major Chevron. This was announced last Friday by OneSubsea’s parent company, Schlumberger, in its second quarter 2019 report. Schlumberger said that combining this master contract with a pre-approved catalog of standard subsea equipment would enable Chevron to decrease operating costs in its subsea projects. The provision of a OneSubsea custom catalog of equipment will also include innovative technologies that meet Chevron’s project requirements, including high-temperature projects or high-pressure projects requiring equipment that can.
oilandgaspeople.com 07/22/2019 08:30
U.S. grain trader Bunge Ltd (BG.N) said on Monday it has agreed to form a bioenergy company with oil major BP Plc (BP.N) that will produce ethanol and sugar, and generate renewable electricity. The joint venture, BP Bunge Bioenergia, will operate on a standalone basis, with a total of 11 mills across the Southeast, North and Midwest regions of Brazil, Bunge said. @hotTipLookingForNextJob@. "This partnership with BP represents a major portfolio optimization milestone for Bunge which allows us to reduce our current exposure to sugar milling...,"
oilandgaspeople.com 07/22/2019 05:30
Jersey’s new UK acreage opportunity to establish ‘major new area hub development’. Oil and gas company Jersey Oil & Gas (JOG) has been awarded significant acreage in the UK North Sea, containing over 100 million barrels of discovered oil, including the Buchan oil field. Jersey said on Monday it had been awarded 100% working interests and operatorship of three blocks in the OGA’s 31st Supplementary Offshore Licensing Round.
oilandgaspeople.com 07/21/2019 20:00
Iran’s Revolutionary Guard Corps seized a British oil tanker in the Strait of Hormuz amid soaring tensions in one of the world’s critical energy chokepoints. Brent climbed more than 1% on the news. A spokesperson for the British government said it was urgently seeking further information and assessing the situation following reports of an incident in the Gulf. An official with the U.S. National Security Council said it was aware of the reports and vowed to work with allies and partners against Iran’s “malign behavior.”In a statement, vessel operator Stena Bulk said “[We] can confirm that at approximately 1600 BST on 19th July UK registered vessel Stena Impero was approached by unidentified small crafts and a helicopter during transit of th.
oilandgaspeople.com 07/21/2019 20:00
Greece’s foreign minister said his country could work together with Turkey to exploit natural resources while urging Ankara to settle its dispute with the European Union over offshore drilling in the Mediterranean. Nikolaos Dendias said in an interview in Washington that there are a wide range of issues where Greece could cooperate with Turkey.
oilandgaspeople.com 07/21/2019 20:00
Carl Icahn formally asked Occidental Petroleum Corp. investors to help him replace four of the company’s 10 board members and potentially push for a sale. Icahn and Occidental Chief Executive Officer Vicki Hollub spoke three times in the last six weeks both by phone and in person to discuss his ideas about corporate governance reforms after the company’s $38 billion deal to buy Anadarko Petroleum Corp. earlier this year, he said in a proxy filing Thursday. Buying Anadarko was a "high-risk strategy" that may not have passed muster with shareholders had they been allowed to vote, Icahn said.
oilandgaspeople.com 07/19/2019 15:00
Iran says it captured British oil tanker; oil prices jump. Iran’s Revolutionary Guard says it seized a British tanker in the Strait of Hormuz, claiming it failed to follow international marine regulations. The IRGC took the British tanker, Stena Impero, to a coastal area and turned it over to maritime authorities, according to Iran State TV. @hotTipLookingForNextJob@. Britain said it was urgently seeking further information after reports that a British-flagged tanker had taken a turn into Iranian waters. “We are urgently seeking further information and assessing the situation following reports of an incident in the Gulf,” a spokesman for the Ministry of Defence said on Friday. The move by Iran follows the seizure of an Iranian tanker earlier
oilandgaspeople.com 07/18/2019 20:00
In its July 2019 Short-Term Energy Outlook (STEO), the U.S. Energy Information Administration (EIA) forecasts Henry Hub natural gas spot prices for June, July, and August this year will average $2.37 per MMBtu. If realized, this price would be the lowest summer average Henry Hub natural gas price since 1998. EIA expects Henry Hub natural gas prices will be down 55 cents/MMBtu, about 19% lower than last summer’s average. In the July STEO, EIA revised its forecast for 2019 Henry Hub natural gas prices down from the June STEO following three consecutive months of price declines. Prices in June averaged $2.40/MMBtu and have declined by 19% since March. @hotTipThousandsOfRecruiters@. Spot prices at key trading hubs across the country have traded
oilandgaspeople.com 07/18/2019 20:00
Wild Well Control has contracted Fugro to provide BOP intervention skids and test units for its WellCONTAINED Subsea Response Kit. The new 450/150 Mark 3 BOP intervention skids from Fugro increase both pumping capability and water depth rating for the subsea capping stack. The Fugro systems enable full skid testing without the requirement of an ROV, the ability to interface to most work-class ROV systems and a custom designed, self-contained storage and maintenance transport container. “Deployments of the skid system to date have included full functional testing on a Fugro ROV at 3,800 meters water depth. The BOP system is depth rated to 4,000 meters,” Doug Graham, Fugro’s ROV services and tooling global director, said. @hotTipLookingForNex.
oilandgaspeople.com 07/18/2019 18:00
Private equity has been ramping up its investment in Permian basin oil and natural gas production, but the old strategy of selling out after a few years is no more, according to RS Energy Group. Simply tapping a team of oil executives to find a good spot in the Permian of West Texas and New Mexico is no longer enough to attract buyers, the Calgary-based researcher said.
oilandgaspeople.com 07/18/2019 10:00
Oil extended losses below $60/bbl on the prospect of easing tensions between the U.S. and OPEC member Iran, and as Gulf of Mexico producers began resuming operations after a storm. Futures fell as much as 3.2% in New York on Tuesday, after Secretary of State Mike Pompeo said Iran, which has been hit by American sanctions over its weapons program, had signaled an openness to talks.
oilandgaspeople.com 07/18/2019 06:00
Equinor Energy AS, operator of production licence 502, has completed the drilling of wildcat well 16/5-7. The well was drilled about 1 km west of Johan Sverdrup oil field in the central part of the North Sea and 200 km west of Stavanger. The objective of the well was to prove petroleum, as well as to investigate potential reservoir rocks in several levels: Upper Jurassic (intra Draupne formation sandstones), Upper Triassic (Skagerrak formation), Upper Permian (the Zechstein group) and weathered/fractured basement rock. The well was drilled about 110 m into basement rock, of which 77 m of weathered and fractured basement rock with poor to moderate reservoir properties.
oilandgaspeople.com 07/18/2019 05:00
Offshore drilling firm Seadrill Partners has scored a contract in Gabon for one of its drillships. Seadrill Partners said Wednesday that its drillship West Polaris had secured a contract with PC Gabon Upstream for drilling operations in Gabon. The contract is for one well, and it is expected to start in September 2019, running to the end of 2019. According to the offshore drilling company, the backlog is expected to be approximately $22 million excluding mobilization fees. Bassoe Analytics estimates the contract dayrate to be around $180.000, based on a three-month term. The West Polaris is the 6th generation, dynamically positioned drillship delivered from the Samsung shipyard in 2008.
oilandgaspeople.com 07/18/2019 02:00
Turkey rebuffed a set of punitive measures by the European Union and vowed to go ahead with its energy exploration in the eastern Mediterranean in a growing dispute with EU member Cyprus. EU foreign ministers on Monday agreed to freeze most high-level contacts with Turkey and cut the flow of funds to the country, while holding back for now on sanctions that could target Turkish companies involved in offshore drilling in the region.
oilandgaspeople.com 07/17/2019 20:00
The U.S. oil boom changed the petroleum industry forever. Now its philosophy is being adopted by conventional producers in the North Sea. Motivated by lower crude prices and higher volatility, many companies are favoring smaller and nimbler investments known as “short-cycle projects.” That term -- first coined in American shale fields -- is now being applied in Europe’s oil heartland as investors demand quick and efficient returns, short development times and low production costs. “During the downturn people had less certainty on the long-term oil price,” said Chris Boulter, UK business development manager for Neptune Energy. “Because we haven’t gone through two years of $90/bbl, people haven’t felt confident enough to invest in the bigger
oilandgaspeople.com 07/17/2019 20:00
Britain's Premier Oil on Wednesday reduced its forecast for its 2019 operating costs to $12 per barrel of oil equivalent (boe) from $13 and expects debt reduction to reach the upper end of its $250-$350 million target by year-end. Premier, which had debt of around $2.3 billion in December, expects to give the final go-ahead for two satellite fields to its North Sea flagship oilfield Catcher next month to extend the period the project produces at 66,000 boe per day. @hotTipThousandsOfRecruiters@. It expects to submit applications for senior debt facilities for its Sea Lion project off the Falklands imminently.

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