Shell Exploration & Production Co. and the US Coast Guard agreed to conclude skimming operations in their joint response to an estimated oil discharge of 2,100 bbl from a subsea flow line at Glider field in the Gulf of Mexico off Louisiana, Shell E&P said May 16. Source: News
MARKET WATCH: NYMEX oil prices approach $48/bbl
Light, sweet crude prices rose on the New York market May 16, approaching nearly $48/bbl for the day’s high before settling at $47.72/bbl, up $1.15. The Brent crude front-month oil contract on the London market approached a 7-month high May 16 but dropped again in May 17 trading. Source: News
EnerVest acquires Eagle Ford shale assets
EnerVest Ltd. said it and its institutional partners have closed or entered agreements to acquire Eagle Ford shale assets totaling $1.3 billion in three deals since last September. Source: News
EIA: Permian oil-output drop forecast to increase in June
Crude oil production in June from the seven major US shale regions is expected to fall 113,000 b/d month-over-month to 4.85 million b/d, according to the US Energy Information Administration’s latest Drilling Productivity Report (DPR). Source: News
BP doubles interest in North Sea’s Culzean development
BP PLC has acquired another 16% interest in the Culzean development of the UK central North Sea from JX Nippon Oil & Energy Co., bringing the British multinational firm’s total stake in the project to 32%. Source: News
Argentinian refinery plans expansion, upgrades
Axion Energy Argentina SA has secured partial financing from World Bank Group member International Finance Corp. (IFC) for a project to expand and upgrade its 87,000-b/d refinery near the town of Campana in Argentina’s Buenos Aires province. Source: News
Theobold joins WFS Technologies as project director
Mike Theobold has joined WFS Technologies Ltd., Livingston, UK, as project director for Southeast Asia and Australia. Source: News
Carnarvon’s Outtrim East-1 well slated for drilling in mid-June
Carnarvon Petroleum Ltd. reported that it will begin to drill the Outtrim East-1 well on Australia’s North West Shelf in mid-June using the Noble Corp.’s Noble Tom Prosser jack up drilling rig under contract with operator Quadrant Energy. Source: News
Breitburn Energy files for bankruptcy
Breitburn Energy Partners LP, Los Angeles, filed voluntary petitions on May 16 for Chapter 11 in the US Bankruptcy Court for the Southern District of New York. The firm reported debt of $3.4 billion as of Mar. 31. Source: News
SandRidge files petitions under Chapter 11
SandRidge Energy Inc., Oklahoma City, has filed petitions under Chapter 11 in the US Bankruptcy Court for the Southern District of Texas. Source: News