Five exploration and development projects have shared $24 million (Aus.) in the first round of a South Australian government funding scheme known as the Plan for Accelerating Exploration (Pace) Gas Grants. Source: News
Borr Drilling to buy Transocean’s jack up fleet for $1.35 billion
Borr Drilling Ltd., Hamilton, Bermuda, has agreed to acquire 15 high-specification jack up rigs from Transocean Ltd. for $1.35 billion. Source: News
Al Katheeri named Mubadala Petroleum CEO
Bakheet Al Katheeri has been appointed chief executive officer of Mubadala Petroleum Co., Abu Dhabi, a wholly owned subsidiary of state-owned Mubadala Development Co. He previously was chief growth officer and chief operating officer. Source: News
Gazprom Neft to build hydrogen unit at Omsk refinery
PJSC Gazprom Neft is adding a unit for hydrogen production at the 21.4 million-tonne/year Omsk refinery in Western Siberia as part of the company’s ongoing modernization and upgrading program aimed at reducing environmental impacts as well as improving processing capacities, conversion rates, energy efficiency, and production qualities at its Russian refineries by 2020. Source: […]
MARKET WATCH: NYMEX front-month crude hovers below $49/bbl on higher rig count
Light, sweet crude oil prices for April delivery gained slightly on the New York market Mar. 17 to remain under $49/bbl while oil prices dropped in early Mar. 20 trading following a higher weekly rig count total. Source: News
US rig count records sixth double-digit rise of past 8 weeks
The US drilling rig count climbed 12 units to 768 during the week ended Mar. 10, according to Baker Hughes Inc. data. The count has now risen in 8 straight weeks, 6 of which have been double-digit increases. Source: News
CERAWeek: Permian persistence, no debt keys to Sheffields' success
Lessons passed down from Permian pioneer Joe M. Parsley to his son-in-law Scott Sheffield and then to Scott’s son Bryan Sheffield hold true for any US onshore operator outside of their lineage. Source: News
Perry pledges strong support for technology research, development
The new US Energy Secretary intends to keep federal research in his department strong and vibrant, he told employees on his first day on the job. Source: News
Watching Government: ASCE's troubling report card
The American Society of Civil Engineers (ASCE) gave US transportation systems barely a passing grade, D+, when it issued its 2017 Infrastructure Report Card on Mar. 9. Energy systems received the same mark, with potential problems looming for electricity as well as oil and gas. Source: News
A global experiment
Two months into their historic experiment, agreements to cut oil production in support of crude prices provide more questions than answers. Source: News