News Archive for Oil and Gas News

BP Signs Agreement to Amend the North Alexandria and West Mediterranean Deepwater Concessions

BP has announced that it has signed a new agreement with the Egyptian Ministry of Petroleum and the Egyptian General Petroleum Corporation to develop the significant hydrocarbon resources in the North Alexandria and West Mediterranean Deepwater concessions. Read more…

SDRL’s ninth consecutive ultra-deepwater newbuild commences operations

Seadrill informs that the ultra-deepwater semi-submersible rig West Orion has commenced drilling operations for Petroleo Brasileiro S.A – Petrobras offshore Brazil. West Orion, which was delivered from Jurong Shipyard in Singapore on April 20 this year, arrived offshore Brazil in early July and has since the been preparing for start-up of operations. West Orion is chartered to Petrobras under a six-year contract for operations offshore Brazil. Read more…

Houston American Energy Announces Plans to List on the NYSE Amex

Houston American Energy Corp. (NASDAQ:HUSA) , today announced that it has been authorized to list its shares of common stock on the NYSE Amex stock exchange. Houston American anticipates that its common stock will begin trading on the NYSE Amex on July 27, 2010 under its current symbol “HUSA.” Until that time, Houston American’s common stock will continue to trade on the NASDAQ Global Market. Read more…

VAALCO Energy Provides Update on Drilling Activities

VAALCO Energy, Inc. (NYSE:EGY) today provided an update on the Southeast Etame No. 1 (“ETSEM-1″) exploration well which, as previously announced, was drilled to a total depth of 9,045 feet (2,757 meters) offshore Gabon encountering approximately sixteen feet (five meters) of Gamba sandstone section which logged oil full to base. Read more…

AWE’s Kahu-1 drilling update

AWE Limited advises that at 0600 hours today (NZ time) the Kahu-1 exploration well was starting plug and abandonment operations. Wireline logs were acquired after reaching a total measured depth of 3,835 metres. No significant hydrocarbons were detected within the target sandstone reservoirs. Read more…

BP releases Update on Gulf of Mexico Oil Spill

BP today provided an update on developments in the response to the MC252 oil well incident in the Gulf of Mexico.

Subsea Source Control and Containment
BP continues to work cooperatively with the guidance and approval of the National Incident Commander and the leadership and direction of federal government including the Department of Energy, Department of the Interior, Federal Science Team, Bureau of Ocean Energy, Management, Regulation and Enforcement, U.S. Coast Guard and secretaries Ken Salazar and Steven Chu. At this time, the well integrity test on the MC252 exploratory well continues. Read more…

Halliburton Dividend Declaration

Halliburton (NYSE: HAL) announced that its board of directors has declared a 2010 third quarter dividend of nine cents ($0.09) a share on the company’s common stock payable September 21, 2010 to shareholders of record at the close of business on September 1, 2010. Read more…

US fears Gulf seabed oil seepage near stricken BP well

The US fears oil may be seeping from the ocean floor near the stricken Gulf of Mexico oil well. Read more…

BlueStone Natural Resources Closes Acquisitions and New Bank Facility

Tulsa based BlueStone Natural Resources, LLC has closed on 4 significant transactions with another transaction pending, more than doubling its net production and reserves. With this activity, BlueStone has increased its net production to near 20 MMCFD and net proved reserves to over 100 BCFE. Read more…

Gulf Keystone Petroleum releases Kurdistan Operational Update: Extended Shaikan-1 Well Test, First Production and Sheikh Adi-1 Exploration Well

Gulf Keystone announces the arrival of the initial loads of production facility equipment to the Shaikan field location and the commencement of the rig move by the AOS Discover-1 drilling rig to the Sheikh Adi-1 exploration well site. Read more…

Sevan Marine USD 200 Million Bond Completed

Reference is made to the announcement dated July 12 regarding a bond of USD 200 million to be issued by Sevan Marine ASA. The bond was completed on Friday July 16 and was oversubscribed. It was placed with Norwegian and international professional investors. The bond will have a term of 5 years and will carry an interest rate of 12.00% (USD tranche) /13.25% (NOK tranche). Read more…

Rocksource announces rig for AGC Profond PSC

Rocksource ASA today announces that Ophir Energy plc, the Operator of the AGC Profond PSC, has agreed a rig contract for the deepwater semi-submersible Maersk Deliverer to drill the first exploration well on the block. Based on the current operational schedule the Maersk Deliverer will arrive on location during Q1 2011.   Read more…

TGS Expands Multi-client Seismic Library in Offshore Greenland

TGS  announced acquisition commencement of 15,000 km of multi-client 2D seismic data off the northwest coast of Greenland in Baffin Bay. Read more…

Hercules Offshore Announces Second Quarter 2010 Earnings Release Date and Conference Call Information

Hercules Offshore, Inc. (Nasdaq: HERO) announced that it has scheduled a conference call to discuss its second quarter 2010 financial results on August 3, 2010. The call will take place at 10:00 a.m. CDT (11:00 a.m. EDT). The financial results are scheduled to be released publicly prior to market opening in the United States on that same day. Read more…

Dril-Quip, Inc. Awarded $100 Million Contract for the Supply of Drilling and Production Equipment

Dril-Quip, Inc. (NYSE: DRQ) today announced that it has been awarded a contract valued at approximately US $100 million by FloaTEC de Mexico S.A. de C.V. to supply drilling and production equipment for the P-61 Tension Leg Wellhead Platform (TLWP) to be installed in the Papa Terra field located in the Campos Basin offshore Brazil. The value of the contract will be included in Dril-Quip’s backlog during the third quarter of 2010. Read more…

ARC Energy Trust announces August 16, 2010 cash distribution amount

ARC Energy Trust (the “Trust” or “ARC”) announces that the cash distribution to be paid on August 16, 2010, in respect of the July 2010 production, for unitholders of record on July 30, 2010, will be $0.10 per trust unit. The ex-distribution date is July 28, 2010. Read more…

EERC’s John Harju Appointed to National Petroleum Council by U.S. Secretary of Energy

U.S. Secretary of Energy Steven Chu has appointed John Harju, Associate Director for Research at the University of North Dakota Energy & Environmental Research Center (EERC), to serve as a member of the National Petroleum Council for the 2010–2011 membership term. Harju will represent the views of institutions engaged in energy and environmental technology research. Read more…

NACF Moving to Hire Oceanographer and Environmentalist for Gulf Spill Clean-Up Endeavor

National Clean Fuels (PinkSheets:NACF) announced today that Management of the Company begins meeting Monday with candidates to augment the Company’s move in retooling for Gulf oil spill clean-up efforts. NACF will be looking to place a qualified Oceanographer and an accomplished Environmentalist with the Company. Management believes that these additions will expand NACF’s capabilities and expertise for the clean-up undertaking. Read more…

Research and Markets: Oil and Gas Supply Demand Outlook in the Americas to 2020 – Increasing Oil and Gas Production Changing the Industry Dynamics

Research and Markets (http://www.researchandmarkets.com/research/a88d78/oil_and_gas_supply) has announced the addition of the “Oil and Gas Supply Demand Outlook in the Americas to 2020 – Increasing Oil and Gas Production Changing the Industry Dynamics” report to their offering. Read more…

Domestic Oil Production News: American Resource Technologies, Inc. Places Two More Wells in Its Southeast Kansas Enhancement Project in Production

Domestic oil and gas producer American Resource Technologies, Inc. (OTC: ARUR) announces two more wells being placed in production. Visit the corporate web site, http://www.arur.us, for photos and more information. Read more…

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