News Archive for Oil and Gas News

Platts announces OPEC oil production climbs to 31.71 million barrels per day in April

LONDON, May 10, 2012 /PRNewswire/ — Crude oil output from the Organization of the Petroleum Exporting Countries (OPEC) climbed 320,000 barrels per day (b/d) to 31.71 million b/d in April from 31.39 million b/d in March, a just-released Platts survey of OPEC and oil industry officials and analysts showed. Read more…

Proserv acquires the subsea controls business of weatherford international

ABERDEEN, Scotland, May 10, 2012 /PRNewswire/ — Proserv Group Inc., a leading global energy production technology services company headquartered in Aberdeen, Scotland, has acquired the subsea controls business of Weatherford International.  Proserv is backed by Intervale Capital, a private equity firm focused on investments in middle-market oilfield services companies.  The acquired businesses specialize in subsea and topside communication and control systems, subsea intervention services and subsea termination equipment for offshore production optimization, control and monitoring. Read more…

Canadian oil and gas sector still struggling to address skilled labour shortages despite “doing everything right”

TORONTO, May 10, 2012 /CNW/ – Despite being a global leader in many aspects of compensation and recruitment within the oil and gas sector, Canada is still facing skilled labour shortages – the industry’s self identified number one challenge for 2012, according to a recent global survey of oil and gas organizations in 53 countries conducted by Hays Oil & Gas and leading jobsite Oil and Gas Job Search. Read more…

FieldPoint Petroleum reports record quarter; Plans to drill second lea county, New Mexico well

AUSTIN, Texas, May 10, 2012 /PRNewswire/ – FieldPoint Petroleum Corporation (NYSE AMEX:FPP) announced today its first quarter financial results for the three months ended March 31, 2012. Read more…

Questerre to focus on oil shale in 2012

Questerre Energy Corporation (“Questerre” or the “Company”) (TSX:QEC) (OSLO:QEC) reported today on its operating and financial results for the first quarter of 2012. Read more…

Nordic Oil and Gas to equip its 4-11 Well in Endeavour, SK with tank, tubing and submersible pump

Based on the recently completed Reserves and Engineering Report received from its Engineering firm, Donald Benson, President of Nordic Oil and Gas Ltd. (TSX VENTURE:NOG) (“the Company” or Nordic”), announced that the Company is changing its approach with regard to its 4-11-35-4 W2 well at Endeavour, SK. The Company now plans to equip the well with a tank, tubing and a submersible pump as soon as possible. The Company intends to apply for permission from the Saskatchewan government to test the 4-11 well. Read more…

Serica Energy-Q1 2012 results

Serica Energy plc (TSX:SQZ)(AIM:SQZ) (“Serica” or the “Company”), the oil and gas exploration and production company, today announces its financial results for the three months ended 31 March 2012. The results and associated Management Discussion and Analysis are included below and copies are available at www.serica-energy.com and www.sedar.com. Read more…

Gulf Keystone Petroleum provide Kurdistan operational update spudding of Bakrman-1 exploration well

Gulf Keystone is pleased to announce that the Bakrman-1 exploration well spudded on the Akri-Bijeel block in the Kurdistan Region of Iraq on 7 May 2012. Read more…

TransCanada to proceed with Keystone Hardisty Terminal

TransCanada Corporation (TSX, NYSE: TRP) (TransCanada) today announced that it has concluded a successful open season for the Keystone Hardisty Terminal project. Sufficient firm commitments were secured from parties interested in accessing the new terminal at the starting point of TransCanada’s Keystone Pipeline System. Read more…

Tap Oil announce extension of Offshore Accra contract area

Tap Oil Limited (Tap) is pleased to announce that the Ministry of Energy, Ghana has granted a 12 month extension of the Initial Exploration Period under the Petroleum Agreement in respect of the Offshore Accra Contract Area.  The Initial Exploration Period now ends on 23 September 2013, by which date the commitment well must be drilled. Read more…

Annual general meeting of Lundin Petroleum 10 May 2012

The Company’s and the Group’s income statements and balance sheets were adopted and the members of the Board of Directors and the Chief Executive Officer of the Company were discharged from liability for the financial year 2011. Read more…

Barryroe seismic inversion study confirms significant areal reservoir potential

Providence Resources P.l.c., (“Providence”) the Irish oil and gas exploration and production company, whose shares are quoted in London (AIM) and Dublin (ESM), is pleased to provide a technical update on the Barryroe oil discovery in the North Celtic Sea Basin, offshore Ireland. Providence (80%) operates Barryroe on behalf of its partner Lansdowne Oil and Gas plc. The area lies in c. 100 metre water depth and is c. 50 km off the south coast of Ireland. Read more…

Cairn announces completion of acquisition

Cairn is pleased to announce that, further to the announcement made on 3 April 2012, it has received all required approvals and today completed the acquisition of Agora Oil & Gas AS (“Agora”). Agora is now part of the Cairn group of companies. Read more…

Total: Elgin gas leak update (4 – 10 May 2012)

Final preparations for the planned well intervention on Elgin’s leaking G4 well are nearing completion. These have included the West Phoenix drilling rig positioning itself about 30 metres away from the Elgin complex ready to support the operation. Read more…

Stone Energy Corporation announces definitive agreement with anadarko for acquisition of pompano field working interest

LAFAYETTE, La., May 10, 2012 /PRNewswire/ – Stone Energy Corporation (NYSE: SGY) today announced the signing of a definitive agreement with Anadarko Petroleum Corporation, which provides for the acquisition by Stone of Anadarko’s 25% working interest in the five block deep water Pompano field in Mississippi Canyon, a 22% working interest in Mississippi Canyon Block 29, and a 10% working interest in portions of MC 72.   The purchase price under the agreement is $67 million in cash plus the assumption of asset retirement obligations, subject to customary closing adjustments.  Current net production from the Pompano field attributable to this acquisition is approximately 1,000 barrels of oil per day and 3 million cubic feet of natural gas per day.  Stone’s estimate of proved reserves attributable to this acquisition is approximately 5.9 million barrels of oil equivalent at December 31, 2011.  Stone’s reserves estimate is based on Netherland Sewell & Associates year-end reserve estimate for Stone’s portion of the Pompano field, proportionately reduced for the different working interest.   The acquisition is subject to preferential rights (MC 29 and MC 72 only), due diligence, and other customary closing conditions, and is expected to close by late second quarter of 2012. Read more…

Diamond Offshore announces first quarter 2012 results

Diamond Offshore Drilling, Inc. (NYSE:DO) today reported net income for the first quarter of 2012 of $185.2 million, or $1.33 per share on a diluted basis, compared with net income of $250.6 million, or $1.80 per share on a diluted basis, in the same period a year earlier. Revenues in the first quarter of 2012 were $768.6 million, compared with revenues of $806.4 million for the first quarter of 2011. The sale of the jack-up rig Ocean Columbia was completed during the quarter, resulting in an after-tax gain of approximately $16 million, or $0.12 per share. Read more…

Neon drills two new wells at paloma discovery

Neon Energy Limited (ASX: NEN) is pleased to confirm that the Paloma Deep-2 appraisal well spudded on 10 May, using the Kenai-7 rig. Read more…

Mediterranean Oil & Gas Plc announcement of three year licence extension

Mediterranean Oil & Gas Plc (AIM: MOG), the central Mediterranean focused producer, developer and explorer of oil and gas assets, announces that the Italian Ministry for Economic Development has granted a three year extension until 5 May 2015 to the exploration permit BR269 GC, held by the Company’s subsidiary Medoilgas Italia SpA. Read more…

REC announces production Of 5th millionth solar module at SolarExpo in Italy

REC, will be present at the 13th SolarExpo (Pavilion 7, Stand E2.1), the international renewable energy and distributed generation exhibition, which will be held from 9 to 11 May 2012 at the Verona Fair pavilions. During the event REC is celebrating the production of the 5 millionth REC Peak Energy Series module. Read more…

Bayer MaterialScience to establish global wind energy competence center in Denmark

Bayer MaterialScience plans to establish a global wind energy competence and development center at its existing site in Otterup, Denmark. The new competence center will spearhead and coordinate the global development activities for advanced materials used in wind energy applications. Read more…

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