The international rig count for February reached 1,027, up 3 units from the 1,024 counted in January, and up 48 units from the 979 counted in February 2018, according to Baker Hughes data. Source: News
Borealis lets contract for Kallo PDH unit
Borealis has let a contract to a subsidiary of Maire Tecnimont SPA for work related to the operator’s previously announced plan to build a grassroots propane dehydrogenation (PDH) plant at its existing production site in Kallo, Belgium. Source: News
Canadian producer Pengrowth mulls options
Pengrowth Energy Corp., Calgary, has begun a strategic review “with a view to improving the Company’s balance sheet, addressing upcoming debt maturities, and maximizing enterprise value.” It said options might include a sale, merger, or other business combination; disposition of all or some assets; recapitalization and refinancing; and new financing and equity capital. Source: […]
Pearl to boost Khor Mor flow in Kurdistan
Pearl Petroleum Co. Ltd., Sharjah, has signed a sales agreement with the Kurdistan Regional Government enabling it to increase production at Khor Mor field in the Kurdish region of Iraq to 650 MMscfd of natural gas by 2021 from 400 MMscfd at present. Source: News
MARKET WATCH: Crude oil benchmarks close mixed for second day
Light, sweet crude oil prices fell moderately on the New York market while Brent crude oil prices gained positive momentum in London on Mar. 6 for a second day in which the benchmarks closed mixed. Source: News
Zarubezhneft, Uzbekneftegaz plan EOR JV
Zarubezhneft and Uzbekneftegaz have targeted three old oil fields Uzbekistan’s Ferghana Valley for enhanced recovery and plan to form a joint venture to do the work. Zarubezhneft said it will apply its development-management technologies and use modern equipment to boost production from South Alamyshik, Khartum, and East Khartum fields. Source: News
Chevron eyes 900,000 b/d from Permian by yearend 2023
Chevron said an advantaged portfolio supported by the Permian basin underlies its expectation of strong production growth with lower execution risk, cash flow growth, and disciplined spending over the next 5 years. Chevron is among a group of oil and gas companies looking to increase Permian activity. Most recently, ExxonMobil announced plans to increase its […]
Colorado oil and gas groups express concerns about state senate bill
Two oil and gas groups jointly expressed concern that a Colorado Senate bill was moving ahead before getting the necessary public input. SB 19-181 was scheduled for consideration by a Senate committee a business day after Senate Majority Leader Stephen Fenburg (D-Denver) introduced it on Mar. 1, the Colorado Oil & Gas Association and Colorado […]
EIA: US crude inventories climb 7.1 million bbl
US crude oil inventories for the week ended Mar. 1, excluding the Strategic Petroleum Reserve, increased 7.1 million bbl from the previous week, data from the US Energy Information Administration showed. At 452.9 million bbl, US crude oil inventories are about 4% above the 5-year average for this time of year, the report indicated. […]
Aker Energy discovers oil with Pecan South-1A well offshore Ghana
Aker Energy reported an oil discovery with its Pecan South-1A well on the Deepwater Tano Cape Three Points (DWT-CTP) block offshore Ghana. The Maersk Viking drillship will drill a sidetrack appraisal well, said block operator Aker Energy. Source: News