ConocoPhillips reported a third-quarter net loss of $1 billion, slightly down from a third-quarter 2015 net loss of $1.1 billion. The firm also plans to reduce its capital expenditures for the year to $5.2 billion from $5.5 billion. Source: News
Peabody named Husky president, CEO; Ghosh to retire
Asim Ghosh is retiring Dec. 5 as president and chief executive officer of Husky Energy Inc. He has held the titles since June 2010 and will remain on the board, which he joined in May 2009. Source: News
UK Horse Hill developers seeking further appraisal drilling
Horse Hill Developments Ltd. has submitted a planning application to Surrey County Council, UK, to conduct further testing at its Horse Hill-1 (HH-1) discovery well. Originally spudded in 2014, Solo Oil PLC announced that the well flowed 1,688 bo/d from two Kimmeridge limestones and the overlying Portland sandstone during a short period of testing early […]
MARKET WATCH: Brent crude oil drops below $50/bbl on OPEC doubts, US inventory
The Brent contract for December delivery dipped under $50/bbl in Oct. 26 trading on the London market while the light, sweet crude oil price for December delivery settled just above $49/bbl on the New York market. Source: News
Oil, gas to be part of US Arctic policy, White House official says
The US government’s Arctic policy will include responsible development of oil and natural gas resources in Alaska that meets the highest environmental and safety standards including global climate goals, a White House official said. But other speakers at the Atlantic Council’s Oct. 25 conference suggested that producing this oil and gas could help the federal […]
Norway, Russia exchange Barents Sea seismic data
Norway and Russia are exchanging seismic data from areas around the countries’ demarcation line in the Barents Sea. Source: News
Finland-Estonia gas pipeline advances
Directors of state-owned Baltic Connector Oy, Helsinki, have approved investment in the Finnish segment of the Balticconnector natural gas pipeline between Finland and Estonia. Source: News
Braskem commissions Texas specialty polyethylene plant
Braskem America, a subsidiary of Braskem SA, Sao Paulo, has initiated commissioning activities at its UTEC ultrahigh-molecular weight polyethylene (UHMWPE) production plant at the company’s La Porte, Tex., manufacturing site. Source: News
Alberta boosts methane-reduction funding
The Alberta government is making an additional $33 million available to advance technologies for cutting emissions of methane from industries that include oil and gas. Source: News
Egdon expands interests in UK onshore licenses
Egdon Resources PLC has agreed to acquire additional interests in two of its recently announced UK 14th Onshore Oil and Gas Licensing Round awards, PEDL334 and PEDL306, through an assignment of interests from Celtique Energie Petroleum Ltd. at no cost. Source: News