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Month: October 2018

Canadian Producers Turn to Trucks as Supply Glut Grows

October 31, 2018
| Archives

The highways of Saskatchewan show just how desperate Canadian oil producers are to get their crude to market. Tanker trucks laden with oil are journeying almost 500 miles (800 kilometers) to pipeline and rail terminals. It’s a phenomenon that Ken Boettcher, president of Three Star Trucking Ltd. in Alida, Saskatchewan, started to see three or four months ago when oil

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Greenland says China oil majors eyeing Arctic island’s onshore blocks

October 31, 2018
| Archives

BEIJING, (Reuters) – China National Petroleum Corp (CNPC) and China National Offshore Oil Corp (CNOOC) have expressed interest in bidding for onshore oil and gas blocks in Greenland to be offered in 2021, officials from the island said on Tuesday. The Arctic island, a self-ruling part of Denmark, is shifting its oil and gas licensing strategy from offshore

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United States would become the “undisputed leader†of global oil and gas production says Executive Director of IEA

October 31, 2018
| Archives

SINGAPORE, (Reuters) – The United States will become a key source of energy supplies to meet growing demand globally as innovation in technology and financing are expected to boost U.S. oil and gas production in the next decade, the country’s top energy diplomat said. “In the next 5-10 years, we expect to see improved recovery rates and even

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Chesapeake Energy Buys Up WildHorse For Nearly $4 Billion

October 30, 2018
| Archives

(Reuters) – Chesapeake Energy Corp on Tuesday agreed to buy Texas oil producer WildHorse Resource Development Corp in a nearly $4 billion cash-and-stock deal that knocked down the natural gas producer’s shares by more than 12 percent. Investors have punished shares of oil and gas producers that have struck deals this year for higher production instead of focusing

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Rowan Reliance Awarded 1 Year Plus Options from Fieldwood

October 30, 2018
| Archives

HOUSTON, Oct. 29, 2018 /PRNewswire/ — Rowan Companies plc (“Rowan†or the “Companyâ€) (NYSE: RDC) announced today that the Rowan Reliance, an R-Class ultra-deepwater drillship, has been awarded a contract in the United StatesGulf of Mexico by Fieldwood Energy LLC with a firm term of one year plus three 90-day options at then market rates.  The contract is expected to commence the first

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New wave of energy independents may change oil landscape

October 29, 2018
| Archives

  For a decade or so, the giant international oil companies have had it easy. Of course, they have had to contend with volatile oil and gas prices, soaring costs on mega projects, unimpressed equity investors, rapacious governments, capricious geology, hostile environmentalists and all the usual paraphernalia of the business. But they faced at least relatively little competition from

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Algeria’s Sonatrach teams up with ENI and Total

October 29, 2018
| Archives

ALGIERS, (Reuters) – Algeria’s state-owned oil and gas company Sonatrach will launch offshore drilling with France’s Total and Italy’s ENI on two sites in the east and west of Algeria at the start of 2019, its chief executive said on Sunday. “We should start drilling at the beginning of next year,†Abdelmoumene Ould Kaddour told reporters on the

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“12-25 million bbls of recoverable oil†says Equinor about their new Johan Castberg find

October 29, 2018
| Archives

Equinor and partners ENI and Petoro have completed the Skruis exploration well in the Johan Castberg licence. The well confirms a volume of 12-25 million recoverable barrels of oil. “This is an important discovery. It helps to determine the size of the Johan Castberg resource base which is currently being developed. Securing resources near existing infrastructure is an

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OutPut’s Weekly Top 5

October 28, 2018
| Weekly Rundown

This week top of the list is Pacific grabbing up some work for the Bora with Nigerian Agip Limited, great to hear for those crews, Transocean brings in more work, the sister to Deepsea Metro 2 has sold to an unannounced Asian buyer for 262.5 million, miles driven back and forth to the Permian are being beat

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Total E & P GM in Republic of Congo says “Production is far more than what we had anticipatedâ€

October 27, 2018
| Archives

  Bloomberg- Oil production at Total SA’s subsidiary in the Republic of Congo has exceeded expectations, a company official said. The company is pumping 200,000 bpd in the Central African nation, Martin Deffontaines, general manager of Total E&P Congo, said by phone Friday from Pointe Noire, Congo’s commercial capital. “Its production is far more than what we had anticipated,†Deffontaines

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