News Archive for Oil and Gas News

E.ON acquires 24.5 percent of Brazil’s MPX

E.ON SE today closed the transaction to acquire 24.5 percent of MPX’s equity from Eike Batista, owner and CEO of EBX. E.ON acquired 141,544,637 shares of MPX stock for a minimum price of R$10.00 (€3.921) per share plus up to a further R$ 1 (€0.391) per share depending upon the final settlement price of a planned capital increase and the share price performance of MPX in the six months following the closing of the transaction. This raises E.ONs total stake in the Brazilian energy company to 36.2 per cent. The transaction, in which E.ON invested up to a total of R$1.6 bn (€0.6 bn1), was the first step of an investment agreement the two companies signed in March of this year. Read more…

MGM Energy Corp. announces surrender of Mackenzie Delta exploration licences

MGM Energy Corp. (“MGM Energy” or the “Company”) (TSX:MGX) announced today that it has surrendered to the Crown its exploration licences (“EL”) in the Mackenzie Delta region. Effective May 29, 2013, MGM Energy has surrendered to the Crown EL456, EL457, EL458 and EL459, currently scheduled to expire in January 2016, and consolidated EL461, which is scheduled to expire in June 2013. With the surrender, MGM Energy is relieved of its obligation to fulfill its commitments relating to these ELs, including $6.3 million which was due to be paid in June 2013. Read more…

Gulf Keystone Petroleum Ltd. announces commercial discovery in Ber Bahr-1 exploration well

Gulf Keystone notes today’s announcement by Genel Energy plc (“Genel Energy”), regarding a commercial oil discovery at the Ber Bahr-1 exploration well on the Ber Bahr block in the Kurdistan Region of Iraq. Read more…

Hallin Ullswater takes centre stage in new project at Natuna gas field, Indonesia

Hallin Marine, a Superior Energy Services company, announces its return to the Natuna gas field off Indonesia. The project, for a major engineering procedure construction, installation and commissioning contractor, will be executed using the Ullswater subsea operations vessel. Total project value is approximately US$6 million. Read more…

Crocotta Energy announces Edson facility commissioned and summer drilling program has commenced

Crocotta Energy Inc. (“Crocotta” or the “Company”) (TSX:CTA) is pleased to announce the following: Read more…

Statoil announces fast-track development of Delta 2

Together with its partners, Statoil has submitted its plan for the development and operation (PDO) of the Delta 2 field in the North Sea. Read more…

Technip awarded contract for a new calcination unit for a coker project in Abu Dhabi

Technip was awarded a significant contract(1) comprising technology, engineering services and supply of core equipment for Abu Dhabi Oil Refining Company – Takreer’s new coke calcination unit. This new unit is part of the Carbon Black & Delayed Coker project being implemented adjacent to Takreer’s existing Ruwais refinery located in the United Arab Emirates. Read more…

Daybreak drills two more successful wells at California oil project

SPOKANE, Wash., May 29, 2013 /PRNewswire/ – Daybreak Oil and Gas, Inc. (OTCBB: DBRM) (“Daybreak” or the “Company”), a Washington corporation, is pleased to announce the results of the fourth and fifth wells in the current drilling program at the East Slopes Project in Kern County, California.  The Sunday #6 well was drilled to 2,104 feet and encountered approximately 20 feet of oil pay in the Vedder Sand.  The Company owns a 37.5% working interest in the Sunday #6 well.  The drilling rig on Sunday #6 well has been moved to drill the Chimney #1-1 exploratory well and is currently drilling.  The rig will then move to drill the Ball # 2-11 well and then the Bear #7 well. Read more…

Maersk Oil UK Gryphon FPSO back in production

The Gryphon FPSO is back in production following a major overhaul of the vessel. Once all the associated fields are fully operational over the coming months, production will ramp up in excess of 20,000 barrels of oil equivalent a day (boepd). Production from Gryphon is expected to continue for the next decade. Read more…

Rosneft agree with INPEX on joint offshore operations

Rosneft signed a cooperation agreement with INPEX CORPORATION (INPEX) to jointly explore license offshore blocks Magadan-2 and Magadan-3 in the Russian section of the Sea of Okhotsk. Estimated recoverable resources of the two blocks stand at 1,577 million tonnes of oil equivalent. Read more…

Illinois legislature approves natural gas modernization plan

COLLINSVILLE, Ill., May 28, 2013 /PRNewswire/ – The Illinois Senate today approved legislation that will accelerate modernization of the state’s natural gas infrastructure and create 150 new jobs in Central and Southern Illinois.  Under the Natural Gas Consumer, Safety & Reliability Act (SB 2266), Ameren Illinois will invest an additional $330 million over 10 years to strengthen the integrity, safety, and reliability of the natural gas delivery system. Under the plan, a typical Ameren Illinois residential natural gas customer using 785 therms annually would pay about a penny a day more for gas delivery services over the ten year period. Read more…

Jacobs alliance receives contract from Magnox

Jacobs Engineering Group Inc. (NYSE:JEC) announced today that its VELA alliance with AMEC was awarded a contract by Magnox Limited to provide project management resources in support of Magnox’s decommissioning program in the United Kingdom.
Read more…

Eni and Sonatrach reached an agreement on their gas contract

Eni and Sonatrach have agreed on a package solution for 2013 and 2014 within the framework of their commercial discussions under the existing gas contract. Read more…

WGPSN clinches UK duty holder contract extension

Wood Group PSN (WGPSN) will continue to provide duty holder and asset management services to the Hummingbird Spirit floating storage offloading production (FPSO) vessel, under a new contract extension from Teekay. Effective from April 2013, the contract continues until the end of 2013 with options to extend to March 2015. This two year extension option is valued at USD $87 million (£56 million GBP). Read more…

Statoil announces oil discovery in the Grane area

Statoil, together with partners in the Grane Unit, has made a new oil discovery in the vicinity of the Grane field in the North Sea. Read more…

Dana Petroleum lays keel for $400 million oil production vessel

Aberdeen-based Dana Petroleum has laid the keel for a new $400 million oil production vessel which will produce and store up to 40,000 barrels of oil a day from the North Sea by 2015. Read more…

Technip awarded contract for a new calcination unit for a coker project in Abu Dhabi

Technip was awarded a significant contract(1) comprising technology, engineering services and supply of core equipment for Abu Dhabi Oil Refining Company – Takreer’s new coke calcination unit. This new unit is part of the Carbon Black & Delayed Coker project being implemented adjacent to Takreer’s existing Ruwais refinery located in the United Arab Emirates. Read more…

Wood Group Kenny wins FLNG subsea project

Wood Group Kenny (WGK) has been awarded a multi-million dollar engineering contract for a major new project in Australia. Read more…

L-3 MAPPS to Support Candu Energy’s EC6® Power Plant Development with Simulator and Services

MONTREAL, May 28, 2013 – L-3 MAPPS announced today that it has signed a contract with Candu Energy Inc. to supply an engineering simulator for its Enhanced CANDU 6® (EC6®) power plant development project. The simulator will be used at Candu Energy’s EC6 mockup facility to develop and validate the main control room (MCR) and to design and test programmable electronic systems (PES) and human-system interfaces. Click here to read more

Total announces the Port Arthur steam cracker in Texas is now processing ethane from shale gas

To capitalize on the shale gas revolution in the United States, the BASF TOTAL Petrochemicals LLC (BTP) joint venture (40% Total, 60% BASF) revamped the Port Arthur steam cracker in Texas to process ethane, found in abundance in U.S. shale gas. Read more…

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