Lukoil has started drilling production wells in the second phase of development of West Qurna-2 oil field in southern Iraq. It has signed contracts for the drilling of 54 wells targeting the Late Cretaceous Mishrif formation and 3 wells targeting the Early Cretaceous Yamama. Source: News
Northeast Gateway terminal sends out record regasified LNG
Excelerate Energy LP’s Northeast Gateway Deepwater Terminal, about 13 miles offshore Boston, reported that it reached a peak send-out rate of more than 800,000 MMbtu/d of regasified LNG a week earlier. The Feb. 1 volume was a record for the facility, officials said. Source: News
McFadyen to assume exploration role at Murphy Oil
Michael K. McFadyen, executive vice-president, offshore, of Murphy Oil, will assume responsibility for exploration following the Feb. 28 retirement of Eugene T. Coleman, executive vice-president, exploration and business development. The responsibility for business development will be assumed by David R. Looney, executive vice-president and chief financial officer. Source: News
SOCAR’s Turkish refinery delivers first product to Petkim
STAR Rafineri, a subsidiary of SOCAR Turkey Energy—the Turkish arm of State Oil Co. of Azerbaijan Republic—has achieved integration of its recently commissioned 200,800-b/d SOCAR Turkey Aegean Refinery (STAR) in Izmir, Aliaga, Turkey, with Petkim Petrokimya Holding’s (Petkim) nearby 3.6 million-tonne/year petrochemical complex. Source: News
MARKET WATCH: NYMEX crude oil price drops on global economic concerns
Light, sweet crude oil prices fell to their lowest level in more than a week on the New York market Feb. 7 on what analysts called concerns about world economics that could slow oil demand. The Bank of England warned of a world economic slowdown. Meanwhile, a White House economic adviser told Fox Business Network […]
Shell Australia lets contract for Crux gas-condensate project
Shell Australia let a multimillion-dollar contract to global engineering groups Wood and KBR to deliver integrated front-end engineering and design for Shell’s Crux gas-condensate development project in the Browse basin off Western Australia. Source: News
Total reports record production in 2018
Total SA reported increases in adjusted net income for the fourth quarter and full year 2018 as production reached a record level for the year. With a 10% increase from the previous quarter, Total reported adjusted net income of $3.2 billion in fourth-quarter 2018. Source: News
Seadrill, Sonangol form Sonadrill combine
Seadrill Ltd. and Sonangol EP affiliate Empresa de Servicos e Sondagens de Angola Ltda. will each bareboat two drillships into Sonadrill—a 50-50 joint venture focused on opportunities in Angolan waters. Seadrill will manage and operate the drillships for the partnership for an initial 5-year term. Source: News
BLM reports record-breaking onshore oil, gas lease revenue in 2018
US Bureau of Land Management state offices generated more than $1.1 billion of revenue from onshore oil and gas lease sales during 2018, a record amount nearly triple the previous record of $408 million for the comparable period in 2008, Acting Interior Sec. David Bernhardt announced on Feb. 6. Source: News
Cuadrilla reports initial flow tests from Bowland shale
Cuadrilla Resources Ltd. said drilling, hydraulic fracturing, and flow testing of the UK’s first horizontal shale gas well indicated a rich reservoir of recoverable high-quality natural gas from the Bowland shale in northwest England. Cuadrilla CEO Francis Egan reported a complex fracture network was created in the shale and sand injected into the fractured stayed […]