New Zealand Oil & Gas Ltd. and Beach Energy Ltd. have been granted an extension of time for their Canterbury basin permit PEP 52717 offshore New Zealand’s south island. The permit contains the prospective Barque prospect. Source: News

Light, sweet crude oil prices dropped moderately to settle just under $50/bbl on the New York market on Oct. 17 while natural gas prices also dropped to settle at $3.24/MMbtu. Gas prices have stayed near or above $3/MMbtu since about mid-September. Source: News

The US Bureau of Land Management finalized revisions to three onshore orders that aim to assure that oil and gas produced from federal and Indian tribal oil and gas leases are correctly measured, properly reported, and have accurate records. BLM originally proposed the changes to Onshore Oil and Gas Orders 3, 4, and 5 in […]

The rising rig count in the Permian basin is being accompanied by a higher tally of drilled but uncompleted (DUC) wells and a higher crude-output forecast, estimates from the US Energy Information Administration show. Source: News

An exploratory well operated by Total E&P Norge in the Norwegian North Sea encountered natural gas and condensate in three formations. Source: News

The next US president will face weighty energy policy opportunities, risks, and challenges that will require more than a business-as-usual approach, speakers agreed at an Oct. 17 Center for a New American Strategy (CNAS) discussion. For example, Congress and the new administration could work in a bipartisan manner on ways to replace aging energy transportation […]

Owners of Essar Oil Ltd., which operates a 405,000-b/d refinery at Vadinar, India, have entered agreements to sell a total of 98% of the company to Russian and other investors for $12.9 billion cash. Source: News

Andrey Shishkin, vice-president of PJSC Rosneft, was appointed president and chairman of the management board of PJSOC Bashneft. Shishkin, who was Russia’s deputy minister of energy during 2010-12, will serve a 5-year term. Source: News

Terje Hagevang will succeed Ivar Aarseth as chief executive officer of Lime Petroleum Norway AS. Aarseth, who has served in the position since 2012, is retiring effective Nov. 1. Source: News

After years of delays and billions of dollars in cost overruns, the Kashagan project has finally shipped its first export batch of crude oil from its onshore processing plant. Source: News