NEW YORK (Bloomberg) -- OPEC was mistaken in thinking that U.S. shale oil production would be unprofitable once crude prices slipped below $90/bbl, according to Pulitzer Prize-winning author Daniel Yergin.
STAVANGER, Norway -- Statoil has decided to cancel its Stena Carron rig contract after fulfilling its work commitments in the Statoil-operated blocks 38 and 39 in the Kwanza basin, offshore Angola. The rig contract will cease with effect from Nov. 21, 2014.
NEW ORLEANS - The U.S. Bureau of Safety and Environmental Enforcement (BSEE) is actively investigating an explosion aboard a production platform at West Delta 105, operated by Fieldwood Energy. The explosion, which took place on Nov. 20, resulted in one fatality and three injured.
NEW YORK (Bloomberg) -- With crude at $75/bbl, the price Goldman Sachs Group Inc. says will be the average in the first three months of next year, 19 U.S. shale regions are no longer profitable, according to data compiled by Bloomberg New Energy Finance.
DALLAS -- J-W Operating Company has oil and gas properties in northern Louisiana from BHP Billiton. The properties are located in the Elm Grove and Caspiana fields. and include interests in approximately 1,200 wellbores and associated gathering lines and compressor facilities.
TRONDHEIM, Norway -- Electromagnetic Geoservices ASA (EMGS) has received a contract worth $1.5 million for a research project in Brazil. The project will use 3D EM data to map shallow gas hydrates in the Pelotas basin.
PARIS -- CGG has announced another significant commitment from an E&P company to its StagSeis multi-client solution in the Gulf of Mexico, this time with an earlier prefunder expanding their position. Following completion of acquisition in October, StagSeis presales of all three surveys, IBALT, DEUX and TROIS, have continued to strengthen, both with new companies joining, and with repeat customers increasing their commitments.
BEIJING (Bloomberg) -- China has sharply cut its output target for shale, signaling the country’s drilling boom is fizzling out before it even gets going. The nation has reduced its goal for the end of the decade to a third of an earlier estimate, as difficult geology, lack of infrastructure and limited exploration rights conspire against shale-gas ambitions. Big gas import deals, a lower oil price and China’s commitment to clean energy are also weighing on shale’s promise.
LONDON -- Ophir Energy has completed the drilling of Tende-1 and Mkuki-1 well off Tanzania and encountered no hydrocarbons.
MOSCOW (Bloomberg) -- Russia has no current plan to reduce its output to arrest the decline in global prices, according to its energy minister.
CALAGRY, Alberta -- Logan Oil Tools, a wholly owned subsidiary of Logan International has purchased certain assets from Smith International.
OELDE, Germany -- GEA Westfalia Separator Group was awarded IMO type approval by the Federal Maritime and Hydrographic Agency (BSH) for the BallastMaster ultraV 500.
DUBAI -- LMKR have partnered with LUMINA to improve methods to interpret and integrate geological and seismic data, critical to maximizing reservoir understanding.
HOVIK, Norway -- DNV GL has secured a multi-million pound project from Maersk Oil North Sea UK for the Culzean field development project.
SIGNAL HILL, California -- Signal Hill Petroleum has recently completed the first airborne Full Tensor Gravity Gradiometry (FTG) survey of the Los Angeles basin.
THE HAGUE, The Netherlands -- Mazarine Energy Tunisia, a subsidiary of Mazarine Energy has signed a drilling contract with Compagnie Tunisienne de Forage (CTF) for the use of the CTF-4, a 2,000 horsepower onshore drilling rig, for a two-well drilling campaign in the Zaafrane permit in central Tunisia.
NEW ORLEANS -- The U.S. Bureau of Safety and Environmental Enforcement (BSEE) is responding to an explosion at West Delta 105 in the Gulf of Mexico, approximately 12 miles off the coast of New Orleans.
LONDON -- Harkand has secured a multi-million dollar contract with a leading independent oil and gas operator to commence work across their assets in the Southern North Sea region later this month. The deal will see Harkand mobilize their dive support vessel the Harkand Atlantis to excavate and remove existing spools and install a flexible jumper at an open water, existing subsea well location. They will also commence engineering work for production tie-back scope at the site of a new subsea well at another location.
LAFAYETTE, Louisiana — Newpark Mats and Integrated Services (NMIS) has unveiled the Dura-Base Defender liner-less spill containment system, which provides drilling and completion crews with a faster and more efficient way of achieving total site containment of spills, adhering to environmental requirements while reducing overall cost of operations.
WASHINGTON, D.C. -- The vast majority of potential U.S. tight oil production growth remains economical in the current crude oil price environment, according to a new report by IHS. About 80% of potential gross U.S. tight oil capacity additions in 2015 would remain resilient at WTI prices as low as $70/bbl, the report says.