Latest News

Apache's North Sea well flows better than expected

Wed, 16 May 2012 18:33:00 GMT

Apache Corp. today announced that an extension well had initial production rates higher than any oil well drilled at the Beryl Field in the UK North Sea since 2001.

Trio of energy lawyers join Baker Botts

Wed, 16 May 2012 18:18:00 GMT

A trio of energy lawyers has joined Baker Botts LLP in New York and Houston.

Martin Midstream's revolving credit facility reaches $400M

Wed, 16 May 2012 16:48:00 GMT

Martin Midstream Partners LP announced May 10 that it has increased the size of its revolving credit facility to $400,000,000. This represents an increase of $25,000,000 as it has added ABN AMRO Capital USA LLC to its syndicate of lenders. The revolving credit facility is the partnership’s primary source of liquidity and matures April 15, 2016.

El Salvador plans geothermal training center with IDB grant

Tue, 15 May 2012 21:19:00 GMT

The National Energy Board of El Salvador will establish a geothermal training center thanks to a $2 million grant from the Inter-American Development Bank.

H20's Crapzapper division to provide aftermarket parts

Tue, 15 May 2012 21:06:00 GMT

H2O Inc.’s Crapzapper™ division has expanded its offerings to provide aftermarket parts for electrolytic type sewage treatment systems.

Keystone XL Pipeline depicted in info-graphic

Tue, 15 May 2012 20:28:00 GMT

Visual Capitalist recently published an info-graphic on the Keystone XL Pipeline. Although it’s pretty basic, it visually describes the situation very well.

Avista Capital to acquire Top-Co

Mon, 14 May 2012 18:13:00 GMT

Private equity firm Avista Capital Partners announced today it has signed a definitive agreement to acquire Top-Co Inc., a privately-held, designer and manufacturer of specialized casing cementing products used in the drilling and completion of oil, natural gas and geothermal wells. Terms of the transaction, which is expected to close in the second quarter of 2012, were not disclosed.

Prior Sasol exec named to BHP Billiton board

Mon, 14 May 2012 17:56:00 GMT

BHP Billiton Chairman Jac Nasser today announced the appointment of Pat Davies to
the BHP Billiton Board as an independent non-executive director, effective June 1.

Rick Bott joins Continental as president, COO

Mon, 14 May 2012 17:40:00 GMT

Continental Resources, Inc. today announced a transition in senior management. Jeff Hume, president and chief operating officer, will assume the role of vice chairman of strategic growth initiatives, and Rick Bott will succeed Hume as president and chief operating officer. The leadership changes will be effective June 4.

PDC Energy to acquire Core Wattenberg assets, accelerate Niobrara development

Mon, 14 May 2012 17:21:00 GMT

Denver, Colo.-based Petroleum Development Corp. today announced it has executed a definitive agreement to acquire Core Wattenberg assets that contain significant liquid-rich horizontal drilling opportunities from a private party for a purchase price of approximately $330.6 million. The effective date of the transaction is April 1, 2012 with closing scheduled for June 29, 2012.

Spectraseis achieves high-speed imaging of microseismic data

Fri, 11 May 2012 22:28:00 GMT

Spectraseis, a Houston, Texas-based provider of microseismic fracture imaging, stimulation evaluation and seismic monitoring, has achieved a substantial speed-up (compared to CPU implementations) for processing microseismic data, using proprietary algorithms and techniques to get the most out of NVIDIA® Tesla® GPUs based on NVIDIA's Fermi architecture.

CNOOC signs contract with Roc Oil for exploration off Bohai

Fri, 11 May 2012 22:00:00 GMT

Hong Kong-based CNOOC Limited today announced that its parent company, China National Offshore Oil Corp., has signed a production sharing contract (PSC) with Roc Oil (Bohai) Company for Block 09/05 in Bohai.

LEIF: Venture capital investment in water technology bubbling up

Fri, 11 May 2012 21:18:00 GMT

A report released today by the London Environmental Investment Forum reveals increasing venture capital investment activity in companies that are providing innovative water solutions to the oil and gas and mining industries.

Oxy names Melissa Schoeb VP of corporate communications

Thu, 10 May 2012 20:35:00 GMT

Melissa E. Schoeb has been named vice president, corporate communications of Occidental Petroleum Corp.

Comstock Resources makes management changes

Thu, 10 May 2012 19:27:00 GMT

Frisco, Texas-based Comstock Resources, Inc. announced May 9 the promotion of Mark A. Williams to COO. Williams, who has been with Comstock since 1996 and until his promotion served as vice president of operations, will oversee the company's exploration, production and drilling operations.

Copano to expand processing capacity to meet Eagle Ford demand

Thu, 10 May 2012 16:42:00 GMT

In response to producer demand in the Eagle Ford shale play, Copano Energy, LLC announced today it will add 400,000 Mcf per day of cryogenic processing capacity at its Houston Central complex in Colorado County, Texas.

Ex-Im to finance $2.95B in US exports for Australia LNG project

Thu, 10 May 2012 15:52:00 GMT

The Export-Import Bank of the United States has authorized a $2.95 billion direct loan to support US exports to the Australia Pacific liquefied natural gas (LNG) project. The transaction is Ex-Im’s second-largest single-project financing in history and is also the Bank’s first LNG project in Australia.

Environmental Drilling Solutions receives investment backing

Wed, 09 May 2012 21:01:00 GMT

Environmental Drilling Solutions, LLC, a provider of solids control, cuttings processing and zero discharge services, has received a growth equity investment from Element Partners and CSL Capital Management.

Dockwise Ltd. wins OTC technology award

Wed, 09 May 2012 20:35:00 GMT

Dockwise Ltd., a marine contractor headquartered in Breda, the Netherlands, received the 2012 Offshore Technology Conference’s (OTC) Spotlight on New Technology Award for its Dockwise Vanguard, a semi-submersible heavy-lift vessel. Robb Erickson, Dockwise Ltd.’s vice president of sales, Heavy Marine Transport, detailed the vessel’s benefits for offshore dry-docking May 2 at OTC in Houston, Texas.

TMK IPSCO welcomes Dave Mitch as COO

Wed, 09 May 2012 20:18:00 GMT

TMK IPSCO, the North American division of global pipe manufacturer TMK, has appointed Dave Mitch to the position of senior vice president and chief operating officer, based at the company’s headquarters in Downers Grove, Ill. In this newly-created role, Mitch will be responsible for all manufacturing, supply chain and quality functions within TMK IPSCO.

Peregrine Midstream subsidiary fast tracks gas storage facility in Western Rockies

Wed, 09 May 2012 19:55:00 GMT

Ryckman Creek Resources, LLC, a wholly-owned subsidiary of Peregrine Midstream Partners LLC, has started gas injections at its new high-deliverability, multi-cycle (HDMC) Ryckman Creek Gas Storage Facility in southwestern Wyoming near the Opal Hub. Construction of the 35 Bcf facility started in late September 2011. First gas injections from Northwest Pipeline commenced on May 1, 2012, followed by gas injections from Overthrust Pipeline several days later.

Malaysian companies generate $7.2B in sales at OTC

Wed, 09 May 2012 18:47:00 GMT

The Malaysia External Trade Development Corp. and the Malaysia Petroleum Resources Corp. made their presence known last week in Houston at OTC 2012. From Booth 11909, dubbed the “Malaysia Pavilion,” representatives of Malaysian oil and gas companies, related agencies and associations reported $7.2 billion in total generated sales during the conference.

NDB Energy names Rhonda Rosen CFO

Wed, 09 May 2012 17:22:00 GMT

Rhonda B. Rosen has been named chief financial officer of NDB Energy, Inc., an independent oil and gas company based in Houston, Texas. Rosen brings more than 25 years of experience in financial operations, reporting and controls, investment banking and asset management to NDB.

Dale Petroskey appointed public affairs VP at Occidental Petroleum

Wed, 09 May 2012 16:48:00 GMT

Dale Petroskey has been appointed vice president of public affairs for Los Angeles-based Occidental Petroleum Corp.

Credo Petroleum discovers 6 oilfields in Kansas, Nebraska

Wed, 09 May 2012 16:13:00 GMT

Credo Petroleum Corp., an independent oil and gas exploration and production company with assets in North Dakota, Kansas, Nebraska, Texas and Oklahoma, has updated its Kansas and Nebraska drilling project with the discovery of six new oilfields.

AMPHORA adds gas, power software to product portfolio

Tue, 08 May 2012 17:04:00 GMT

Amphora, Inc., Energy Risk’s ETRM software house of the year in 2011, today announced the addition of the Affinity Gas and Power ETRM suite to its portfolio of products.

Brad Ross named transaction services partner at Hein & Associates

Tue, 08 May 2012 16:43:00 GMT

Brad Ross has been named transaction services leader at Hein & Associates LLP. In that role, he will consult with corporate and private equity clients on transactions ranging from $1M to several billion dollars.

Sledge hammers message about Texas oil and gas future

Tue, 08 May 2012 16:20:00 GMT

Oil and gas executives, attorneys, international businessmen and public policy experts recently gathered at the Houston office of Graves & Co. to hear Texas Railroad Commission candidate Roland Sledge speak about the oil and gas opportunities in Texas.

Total awarded exploration license for Uruguay offshore

Mon, 07 May 2012 21:20:00 GMT

Total announced May 3, 2012, it has been awarded an exploration license for Uruguay's offshore Block 14, following the second bidding round held by the national company, ANCAP. The license remains subject to further approval by Uruguayan authorities.

Dynasty Financial adds Syntal Capital to network of advisors

Mon, 07 May 2012 21:06:00 GMT

New York City-based Dynasty Financial Partners today announced that Syntal Capital Partners, LLC becomes the most recent independent investment advisory firm to select Dynasty Financial Partners’ open-architecture platform of wealth management services and technology. Syntal Capital Partners is the 12th independent advisory firm to join Dynasty's wealth management platform.

Occidental Petroleum names Christopher G. Stavros VP, treasurer

Mon, 07 May 2012 19:46:00 GMT

Los Angeles-based Occidental Petroleum Corp.announced today that Christopher G. Stavros has been named vice president and treasurer.

Greene's Energy acquires Associated Rental Tools

Mon, 07 May 2012 17:35:00 GMT

On May 7, Greene’s Energy Group (GEG), a provider of integrated testing, rentals, and specialty services, said it had acquired the shares of Singapore-based Associated Rental Tools Company Pte, Ltd. (Artco).

TozziniFreire adds partner to grow deals between China, Brazil

Mon, 07 May 2012 15:21:00 GMT

Brazil-based TozziniFreire Advogados has added Reinaldo Ma to the firm as partner with its China Practice Group. Ma has more than 10 years of experience in corporate mergers and acquisitions, and has worked specific deals between Brazil and China.

Utica shale play may rival Barnett

Sun, 01 Apr 2012 05:00:00 GMT

As with the Eagle Ford shale play in South Texas, the Utica Shale has dry gas, wet gas, and oil windows.

Staffing business goes global

Sun, 01 Apr 2012 05:00:00 GMT

AN INTERVIEW WITH TOBIAS READ, CEO, SWIFT WORLDWIDE RESOURCES

The high cost of overhead among large and mid-sized E&Ps

Sun, 01 Apr 2012 05:00:00 GMT

Many US exploration and production companies (E&Ps) have made some dramatic strategic changes in the past several years.

Upstream News

Sun, 01 Apr 2012 05:00:00 GMT

Indian country: Five unique legal considerations companies should understand

Sun, 01 Apr 2012 05:00:00 GMT

As the United States works to decrease its dependence on imported oil, land under the supervision of the United States government that has been set aside permanently for the use of Native Americans – legally termed Indian country – is a vital resource that is growing in importance.

Industry Briefs

Sun, 01 Apr 2012 05:00:00 GMT

Oil and gas financing outlook for 2012

Sun, 01 Apr 2012 05:00:00 GMT

The US energy industry is in the nascent stages of a new growth period that could soon lead us towards the elusive goal of energy independence.

Trend reverses as conventional assets dominate

Sun, 01 Apr 2012 05:00:00 GMT

Contrary to many deals playing out in the marketplace these days, the two largest deals of the 30-day period from mid-February to mid-March were not focused on unconventional resources.

Energy Players

Sun, 01 Apr 2012 05:00:00 GMT

Repsol increasing its presence in the deepwater Gulf of Mexico

Sun, 01 Apr 2012 05:00:00 GMT

Repsol currently has an interest in 116 Outer Continental Shelf (OCS) blocks and is the operator, majority owner, and controlling partner in 70 of these blocks.

OGFJ100P company update

Sun, 01 Apr 2012 05:00:00 GMT

Independent research firm IHS Herold Inc. has provided OGFJ with updated production data for our periodic ranking of US-based private E&P companies.

Government can do more to put downward pressure on oil prices

Sun, 01 Apr 2012 05:00:00 GMT

We ask the President to send a powerful signal to the international crude oil markets that the US is ready to lead in developing the domestic energy resources of oil and natural gas, the energy that is used to meet more than half of our energy demand and will continue to do so for decades despite advances in alternative fuels.

Shale gas: Opportunities and challenges for the Americas

Sun, 01 Apr 2012 05:00:00 GMT

Shale gas has the potential to turn the world's energy industry on its head. It's abundant. It's cheap. It burns cleaner than fossil fuels. And it's being found almost everywhere.

Williams Partners announces $2.5B acquisition in Marcellus Shale

Sun, 01 Apr 2012 05:00:00 GMT

Williams Partners LP, a limited partnership formed by The Williams Companies Inc., is about to make its presence – and earnings potential – known in both the Marcellus and Utica shales with a recently announced acquisition and joint venture.

IHS grants UT Arlington $4.4M in seismic interpretation software

Sun, 01 Apr 2012 05:00:00 GMT

Oil and gas fields are maturing, and new plays in complex terrain are being discovered. To help unlock the potential of these new and changing opportunities, a new class of geoscientists and seismic interpretation software is needed.

The Project Gap

Sun, 01 Apr 2012 05:00:00 GMT

An independent review before a project's start can reveal a disparity between intentions and likely outcomes.

Part II: Oil and gas company valuation, reserves, and production

Thu, 01 Mar 2012 06:00:00 GMT

The value of an oil and gas company value is determined by its reserves, level of production, earnings, growth potential, production cost, commodity price at the time of the assessment, and a number of secondary factors.