Light, sweet crude oil gained modestly Dec. 4 to settle above $53/bbl on the New York market while Brent crude oil also gained slightly to settle above $62/bbl as market participants considered Qatar’s announcement that it plans to leave the Organization of Petroleum Exporting Countries. Analysts said Qatar appears to be seeking to gain favor […]
Aramco lets contract for well services
Saudi Aramco has let a stimulation and well-testing contract to Baker Hughes to optimize production from new and existing wells across conventional fields in Saudi Arabia. The 3-year contract includes the option of two 1-year extensions and is expected to begin this month. Source: News
Cooperation between government, oil industry essential, NPC told
Cooperation between the federal government and the US oil and gas industry that helped move the nation from reliance on imports to leadership in exports will remain essential to compete with the Organization of Petroleum Exporting Countries and Russia in the years ahead, US Energy Sec. Rick Perry and Interior Sec. Ryan K. Zinke separately […]
DOE report lists benefits from developing Appalachian ethane storage
Development of an Appalachian methane storage and distribution hub would provide an important market for low-cost natural gas from the nearby Marcellus and Utica shales while attracting petrochemical projects to an area outside the Gulf Coast, where 95% of existing US capacity now is concentrated, a US Department of Energy report to Congress suggested. […]
OIL starts CSS of well in Rajasthan
Oil India Ltd. has started what it says is India’s first cyclic steam stimulation (CSS) at its BGW-8 well in Rajasthan. The well is in Baghewala field, where heavy oil was discovered in 1991. Source: News
Talos Energy begins Zama appraisal program
Talos Energy Inc. has spudded its Zama-2 appraisal well Nov. 29, beginning the Zama discovery appraisal program, which will consist of three reservoir penetrations, including two wells and one sidetrack. The Zama discovery was made on Block 7 about 37 miles offshore Port of Dos Bocas, Mexico. Mexico’s oil and gas regulator National Hydrocarbons Commission approved […]
Entek negotiates option for Alaskan leases
Entek Energy Ltd., Perth, entered into an option agreement with Elixir Petroleum Ltd., also of Perth, to acquire Elixir’s three wholly owned leases onshore the Alaska North Slope. The deal involves an exclusive option to acquire the Alaskan portfolio through the acquisition of a wholly owned Elixir subsidiary. The option is due for exercise on […]
Lukoil, KazMunayGas sign Zhenis agreements
Lukoil and KazMunayGas have signed a joint operating agreement and finance agreement covering exploration and development of the Zhenis license area of the Caspian Sea off Kazakhstan. Source: News
SemGroup, DCP hold Cushing-Houston crude line open season
SemGroup Corp. and DCP Midstream LP are holding an open season to solicit binding commitments for development of a pipeline system to transport segregated batches of light crude oil from Cushing, Okla., to Houston. The proposed Gladiator Pipeline would start at SemGroup’s Cushing terminal. Source: News
Rystad Energy: Permian gas flaring hits all-time highs
Gas flaring in the Permian basin reached an all-time high in this year’s third quarter as the persistent rise in production collided with severe takeaway capacity challenges, according to Rystad Energy. Source: News