Warren Resources files for Chapter 11

Warren Resources Inc., Denver, filed for bankruptcy protection in a Houston federal court on June 2 after negotiating a debt-for-equity swap with a group of senior lenders led by Blackstone Group’s GSO Capital Partners. Source: News


Mellitah Oil & Gas lets contract for offshore Libya

Mellitah Oil & Gas BV has let a contract to Technip to handle subsea installations and platform engineering for the Bahr Essalam Phase II natural gas development offshore Libya in 623 ft of water in the central Mediterranean Sea. Source: News


MARKET WATCH: Brent tops $50/bbl following OPEC meeting

Crude oil prices gained modestly on the New York and London markets June 2 after the Organization of Petroleum Exporting Countries said its members agreed to leave its current high production strategy intact despite calls from a few members for a collective production cap. Source: News


Statoil moves toward Utgard development

Statoil SA said it plans to make a final investment decision about development of Utgard gas and condensate field in the Sleipner area of the North Sea after agreeing to acquire a 45% interest in the UK portion of the license from JX Nippon. Source: News


Mackenzie Gas Project extension approved

The National Energy Board of Canada has approved a delay in construction of the Mackenzie Gas Project, including the 1,220-km Mackenzie Valley Pipeline between three Arctic fields and northwestern Alberta. Source: News