Oil Search rejects Woodside's takeover bid

The board of Oil Search Ltd. has unanimously rejected Woodside Petroleum Ltd.’s takeover bid for the company, calling Woodside’s move highly opportunistic and one that grossly undervalues Oil Search (OGJ Online, Sept. 8, 2015). Source: News


EIA: US shale oil output to drop 80,000 b/d in October

Crude oil production in October from seven major US shale plays is expected to drop 80,000 b/d to 5.21 million b/d, according to the US Energy Information Administration’s latest Drilling Productivity Report (DPR). Source: News


IEA: Most recent OMR shows oil markets tightening

Oil markets are tightening, as stockpiling gradually slows and inventories start to draw in the second half of 2016, the International Energy Agency forecast in its most recent monthly Oil Market Report. Source: News


Chevron settles with California litigation firm over Ecuadorian lawsuit

Chevron Corp. has reached a settlement agreement whereby H5, a California-based e-discovery and litigation services firm, has withdrawn its support from litigation against Chevron in Ecuador and assigned its 1.25% interest in the $9.5-billion Ecuadorian judgment to Chevron. Source: News


Smorbukk South ‘fishbone’ well flow starts

Statoil ASA has started production from the low-permeability Smorbukk South Extension of Asgard oil and gas field in the Norwegian Sea with what it claims to be the first use of “fishbone” multilateral technology offshore Norway. Source: News


NPD reports small oil discovery by Statoil

The Norwegian Petroleum Directorate reported a small oil discovery by Statoil Petroleum AS in the northern North Sea. Source: News


Second segment of Aegis pipeline complete

Enterprise Products Partners LP (EPP) has completed construction of the Aegis pipeline segment connecting Beaumont, Tex., with Lake Charles, La. Source: News