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Month: May 2018

Peru President Throws Tullow in the Doghouse | OutPut by Rig Lynx

May 25, 2018
| Archives

  The government of Peruvian President Martin Vizcarra canceled his predecessor’s decision to award five offshore oil contracts to London-based Tullow Oil PLC shortly before resigning, citing insufficient consultations with coastal residents. The reversal, which was published in the official gazette on Wednesday, was a victory for fishermen and environmentalists who said that exploration and drilling would have put

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Mexico Production Loss Gut Punch? OutPut by Rig Lynx

May 25, 2018
| Archives

  Several years on from the semi-privatization of its oil sector, Mexico has lined up tens of billions of dollars of potential investment in offshore drilling. But just as the fruits of the energy reforms are becoming visible, the entire effort is at risk as the political winds shift against it. Mexico’s oil production has been in steady decline

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Gulf Coast Interest Back? | OutPut by Rig Lynx

May 25, 2018
| Archives

WASHINGTON – The top U.S. offshore safety official said Wednesday that drilling activity — at least the way the Trump administration defines it — is increasing in the Gulf of Mexico, in part the result of a “renewal of optimism†following the president’s push to roll back regulation. “This administration is very clear on offshore [oil and gas]

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Keystone XL Pipeline Dreams Vanishing? OutPut by Rig Lynx

May 25, 2018
| Archives

  Ever since Canada’s Liberal government came to power in late 2015, the 525,000 b/d Northern Gateway and the 1.1 million b/d Energy East pipeline projects fell off the radar, while a final investment decision remains due on the 870,000 b/d Keystone XL pipeline, which received a fresh lease of life after US President Donald Trump resurrected it

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Sand Mining? A Frac Must Have! | OutPut by Rig Lynx

May 25, 2018
| Archives

There’s been a race to build new sand mines in West Texas’ Permian Basin to satisfy all of the hydraulic fracturing needs for oil wells. But now there are signs of growth in South Texas’ long-stagnant Eagle Ford shale. Fort Worth-based Black Mountain Sand said it plans to construct a new sand mine south of San Antonio near

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Is there a “Burnout†coming? | OutPut by Rig Lynx

May 24, 2018
| Archives

Surprisingly it’s not a carbon price or policy that is likely to drive this loss, but innovation and developments in technology which are redesigning the world in which we live. The energy markets are facing a paradigm shift, like the telecoms market before the advent of the internet. This is according to the latest analysis from Aurora Energy Research,

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Traders Betting on $100 a BBL | OutPut by Rig Lynx

May 24, 2018
| Archives

Some options traders are betting on $100 oil again. Whether it’s the specter of sanctions on Iran, Venezuela’s output plunge, or a momentum play on the back of the past year’s 46 percent surge in Brent, there are now the equivalent of about 93 million barrels wagering on the global benchmark hitting $100 at some point in the

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Roughnecks In Demand | OutPut by Rig Lynx

May 24, 2018
| Archives

HOUSTON (Reuters) – Finding roughnecks remains a challenge for oil drillers as rising crude prices increase demand for their services, oilfield executives said on Thursday at a conference in Houston. Oilfield service suppliers cut tens of thousands of workers following the 2014 oil-price collapse, and skilled employees have moved to other industries or are no longer interested. A

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40 Million in Fuel “Poof†Gone | OutPut by Rig Lynx

May 23, 2018
| Archives

  Singapore authorities have levied new charges against a group of fuel thieves operating at Royal Dutch Shell’s oil refinery in the city-state, raising the value of the stolen fuel to over $40 million from around $10 million in earlier charges, according to court documents reviewed by Reuters on Tuesday. Five former employees of Shell’s Singapore subsidiary received 51

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Cost Hike on Steel for TX Tubular Goods | OutPut by Rig Lynx

May 23, 2018
| Archives

The imposition of steel import tariffs and quotas will directly burden Texas oil and gas producers with higher costs for oilfield steel goods, which could result in job losses, reduced activity, and smaller companies struggling to absorb additional costs, the Texas Alliance of Energy Producers (TAEP) said in comments on the U.S. tariffs on steel. “Clearly the tariffs themselves will

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