Williams Cos. Inc., Tulsa, reported an expansion of gas-gathering services in growing dry gas production areas of the Utica shale in eastern Ohio. Source: News
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
STEO: Global oil consumption revised down on weak China economic data
In its most recent Short-Term Energy Outlook, the US Energy Information Administration reported it expects global oil consumption to increase 1.2 million b/d in 2015 and 1.3 million b/d in 2016. 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 has reached a settlement agreement whereby H5, a California-based e-discovery and litigation services firm, has withdrawn its support from litigation against Chevron in Ecuador and assigned its 1.25% interest in the $9.5-billion Ecuadorian judgment to Chevron.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
MARKET WATCH: NYMEX oil prices holding steady before Labor Day weekend
The price for light, sweet crude oil for October delivery settled modestly higher on the New York market to remain above $46/bbl on Sept. 3 before the Labor Day holiday in the US. 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