Oil Gas Prices

Weatherford, partners raise $150,000 for Houston Area Women’s Center

HOUSTON -- Weatherford International and partners presented a donation of approximately $150,000 to the Houston Area Women’s Center the inaugural Weatherford Walks charity event.


19 Dec 2014 | 10:32 am EST

Halliburton requests 25% discount from its suppliers in reaction to reduced capital spending

Halliburton requests 25% discount from its suppliers in reaction to reduced capital spending PRAMOD KULKARNI, Editor HOUSTON – Oilfield services giant Halliburton has issued a memorandum to its suppliers, asking for a 25% discount effective immediately. The vendors must confirm


19 Dec 2014 | 5:41 am EST

Enbridge reopens Line 4 pipeline after 1,350 bbl crude spill

CALGARY, Alberta – Enbridge has completed repairs at its Regina terminal in Saskatchewan and returned the Line 4 pipeline to service following an oil spill earlier this week.


19 Dec 2014 | 3:46 am EST

Nigerian oil unions suspend 4-day strike after negotiations

ABUJA, Nigeria (Bloomberg) -- Nigeria’s oil unions suspended their four-day national strike after reaching an agreement with the government, which included a push to pass an industry bill held up for years in parliament.


19 Dec 2014 | 2:03 am EST

Oil crash exposes weakness in shale drillers’ insurance

HOUSTON (Bloomberg) -- Tumbling oil prices have exposed a weakness in the insurance that some U.S. shale drillers bought to protect themselves against a crash. At least six companies, including Pioneer Natural Resources Co. and Noble Energy Inc., used a strategy known as a three-way collar that doesn’t guarantee a minimum price if crude falls below a certain level, according to company filings. While three-ways can be cheaper than other hedges, they can leave drillers exposed to steep declines.


19 Dec 2014 | 1:23 am EST

G2X Energy, MHTL to partner in world-scale MTG-ready methanol production facility

G2X Energy, MHTL to partner in world scale MTG ready methanol production facility HOUSTON Methanol Holdings Trinidad Limited (MHTL) intends to partner with G2X Energy to construct the world scale methanol to gasoline MTG ready, methanol production facility being developed


18 Dec 2014 | 7:37 pm EST

FMC Technologies bags $393 million subsea systems contract offshore Angola

FMC Technologies bags $393 million subsea systems contract offshore Angola HOUSTON FMC Technologies has received an order from Eni Angola to supply subsea production systems for its deepwater Block 15 06 East Hub development. The order has an estimated value


18 Dec 2014 | 6:36 pm EST

Cheniere, GE sign $1 billion service agreement for Sabine Pass LNG export terminal

Cheniere, GE sign $1 billion service agreement for Sabine Pass LNG export terminal HOUSTON GE Oil & Gas and Sabine Pass Liquefaction, a subsidiary of Cheniere Energy Partners have entered into a $1 billion service contract for more or less


18 Dec 2014 | 6:10 pm EST

Cairn India invites supplier partnerships despite falling oil prices

Cairn India invites supplier partnerships despite falling oil prices PRAMOD KULKARNI, Editor HOUSTON – At a time when most oil companies are cutting budgets and scaling back E&P spending, Cairn India held supplier summits in Calgary and Houston to invite


18 Dec 2014 | 4:37 pm EST

Abigail Ross Hopper named U.S. BOEM director

WASHINGTON, D.C. -- U.S. Secretary of the Interior Sally Jewell has named Abigail Ross Hopper as the director of the Bureau of Ocean Energy Management (BOEM), the agency responsible for the development of conventional and renewable energy and marine mineral resources on the Outer Continental Shelf.


18 Dec 2014 | 10:52 am EST

Cheap oil jamming rails means higher U.S. power bills: freight

CHICAGO (Bloomberg) -- U.S. electricity costs are poised to reach the highest level since 1999 because railroads are too clogged to deliver enough coal to power plants.


18 Dec 2014 | 9:21 am EST

Prospect Flow Solutions joins Wild Well Control

HOUSTON -- Wild Well Control has announced that engineering solutions provider Prospect Flow Solutions has joined Wild Well, and will serve as its new advanced engineering group.


18 Dec 2014 | 8:30 am EST

Enbridge reports 1,350 bbl oil spill at Regina Terminal

CALGARY, Alberta -- Enbridge shut down and isolated its Line 4 pipeline at the Regina Terminal in Saskatchewan on Dec. 16, after a release from the line within the on-site pumping station was reported and confirmed.


18 Dec 2014 | 3:54 am EST

Marathon Oil cuts $1 billion from 2015 capex

HOUSTON -- Marathon Oil is anticipating that its 2015 capital, investment and exploration budget will be approximately $4.3-4.5 billion, or about 20% lower than 2014 levels, excluding its recently disposed Norway business.


18 Dec 2014 | 3:22 am EST

U.S. rig count poised to shed 600 rigs within six months, Genscape says

LOUISVILLE, Kentucky -- U.S. shale producers may begin producing less as crude prices drop to five-year lows -- with some North Dakota Bakken operators already treading water -- as rig counts nationwide are poised to decrease by nearly 600 in the next six months, according to Genscape.


18 Dec 2014 | 2:06 am EST

Exxon shows why U.S. oil output rises as prices plummet

HOUSTON (Bloomberg) -- Crude oil production from U.S. wells is poised to approach a 42-year record next year as drillers ignore the recent decline in price pointing them in the opposite direction. U.S. energy producers plan to pump more crude in 2015 as declining equipment costs and enhanced drilling techniques more than offset the collapse in oil markets, said Troy Eckard, whose Eckard Global LLC owns stakes in more than 260 North Dakota shale wells.


18 Dec 2014 | 1:28 am EST

Woodside to farm-in with BP in Nova Scotia

Woodside to farm in with BP in Nova Scotia PERTH, Australia Woodside has finalized an agreement with BP to farm in to offshore blocks in the Scotian Basin, located off the coast of Nova Scotia, Canada. BP accepted Woodside’s offer


17 Dec 2014 | 11:07 pm EST

Teekay Offshore bags FPSO contract in Santos basin; acquires two FPSO vessels

Teekay Offshore bags FPSO contract in Santos basin acquires two FPSO vessels HAMILTON, Bermuda Teekay Offshore has entered into an agreement with a consortium led by Queiroz Galvão Exploração e Produção (QGEP) to provide a FPSO unit for the Atlanta


17 Dec 2014 | 10:29 pm EST

Blackhawk launches new wireless cement head

Blackhawk launches new wireless cement head HOUSTON Blackhawk Specialty Tools has developed the Hawkeye, a wireless top drive cement head that enhances speed, efficiency and safety in cementing operations. The Hawkeye operates on a fully wireless automation system, eradicating the


17 Dec 2014 | 6:32 pm EST

Obama rules Alaska's Bristol Bay off limits for oil, gas leasing

WASHINGTON, D.C. -- President Obama has designated the waters of Bristol Bay as off limits to consideration for oil and gas leasing. The decision to withdraw the area from all future oil and gas leasing extends indefinitely a temporary withdrawal that President Obama issued in 2010 and was set to expire in 2017. 


17 Dec 2014 | 6:17 am EST

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