Quadrant secures rig for Phoenix South appraisal well

Quadrant Energy Ltd., Perth, has executed a contract with Transocean Ltd. for use of the GSF Development Driller-1 semisubmersible drilling rig for the planned Phoenix South-3 well in the Bedout basin offshore Western Australia. Source: News


MARKET WATCH: NYMEX crude oil hovers above $46/bbl

Light, sweet crude oil prices fell July 17 to settle just above $46/bbl, breaking a 5-day gaining streak, which analysts attributed to concerns about lingering ample world oil supplies amid growing uncertainty about major producers’ future output levels. Source: News


EIA: Major US onshore regions to add 113,000 b/d in August

Crude oil production from the seven major US onshore regions is projected to rise 113,000 b/d month-over-month in August to 5.585 million b/d, the US Energy Information Administration says in its Drilling Productivity Report. Source: News