The White House’s Apr. 22 confirmation that it will end all waivers from Iran oil sanctions when they expire on May 2 will help keep a carefully balanced sanctions regime in place, an expert suggested. Source: News
Murphy adds deepwater, oil-weighted Gulf of Mexico assets from LLOG
Murphy Oil Corp. has agreed to acquire from LLOG Exploration Offshore LLC and LLOG Bluewater Holdings LLC–a joint venture between LLOG Exploration and Blackstone– assets in 26 Gulf of Mexico blocks containing seven producing fields and four development projects with future start-ups in the Mississippi Canyon and Green Canyon areas for $1.625 billion consisting of […]
IOCs recorded high reserve replacement, low F&D costs in 2018
Reserve replacement costs moved higher as shown in filings by integrated oil companies (IOC) with the US Securities and Exchange Commission, while finding and development costs (F&D) moved lower, according to analysis by Simmons Energy. Source: News
UK shale official quits, citing frac ‘ban’
The official UK advocate for shale-gas development has resigned in protest of “a de facto ban” on hydraulic fracturing. Source: News
Say ‘no’ to NOPEC
Source: News
Associated gas and the Permian
Permian basin producers are on track to double oil production by 2025 and with it, double associated natural gas production. Gas pipeline infrastructure, meanwhile, is already maxed out with regional prices trading negative late in 2018. Source: News
Saudi Arabia’s TAQA Drilling to acquire Schlumberger’s Middle East drilling rigs
Saudi Arabia’s Industrialization and Energy Service Co. said its drilling unit, Arabian Drilling Co., agreed to acquire Schlumberger Ltd.’s Middle East onshore drilling rigs business in Kuwait, Oman, Iraq, and Pakistan for $415 million. Source: News
Leon drilling due under LLOG-Repsol swap
LLOG Exploration Offshore LLC will participate in the drilling of a well to delineate Repsol E&P USA Inc.’s 2014 Leon oil discovery in the Lower Tertiary play of the deepwater Gulf of Mexico. Source: News
AIE gets govt sanction for Port Kembla LNG terminal
Sydney-based Australian Industrial Energy Group (AIE) has received development consent from the New South Wales Government for its plan to import LNG into Port Kembla on the NSW coast. Source: News
MARKET WATCH: NYMEX, Brent crude oil prices dropped about $2/bbl
Light, sweet crude oil for June and July each dropped about $1.90/bbl to settle under $64/bbl on the New York market Apr. 25 while Brent prices fell by about $2/bbl for June and July contracts to settle under $73/bbl on the London market that same day. Source: News