The supply-demand imbalance continues to add to commodity price instability, forcing companies to find more ways to maintain or grow production at a lower cost.
Shell has spent about $7 billion on exploration in the waters off Alaska so far and said it could take a hit of up to $4.1 billion for pulling out of the Chukchi Sea for the "foreseeable future".
The unfolding global story of FLNG is being spearheaded by the Southern Hemisphere. While most of the noise so far has been made by the operators of Australia’s megaprojects, it is Malaysia that has been quietly setting the pace.
The major Gulf of Mexico player plans to reduce its capital spending in 2016 by 78% to between $130 million and $150 million, while maintaining production levels.
Compression will increase production at the Åsgard Field in the Norwegian Sea by some 306 million barrels of oil equivalent during the field’s productive life, Statoil said.
A portion of the gas exported from the U.S. will be pipelined to Mexico, but most of it will be liquefied and then loaded onto tanker ships destined for overseas markets in Europe and Asia.
But if Britain forges ahead with shale development it will need to develop carbon capture and storage (CCS) to make sure it can still meet emission reduction targets
The Oseil-28 well was completed as a producer with final clean-up rates prior to rig release of about 640 bbl/d of oil.
A ban on fracking by the Western Australia Labor Party would hold until it was shown that fracking doesn't compromise the environment, groundwater, public health or contribute adversely to climate change.
A cluster of quakes in Logan County led Devon Energy and Stephens Energy Group, the operators of two disposal wells near the rumbles, to voluntarily shut down operations.
JetStream was recently used in a 6.5-in. intermediate section in the North Sea that was drilled to 10,446 ft total depth through soft, porous limestone.
China’s COSL will use the Nanhai-9 rig to drill two exploration oil wells in water depths less than 150m in the Sea of Okhotsk in 2016, Reuters said.
Top executives believe the merger creates growth opportunities that could lead to a common operating system for both the surface and subsurface, while expanding Cameron’s presence worldwide.
Shale producers can save 30% of the drilling cost with walking rigs, which can move from one wellbore to another--10 meters in less than an hour, Reuters said.
The deployment of the $1 billion deepwater rig last year about 120 nautical miles off Vietnam's coast, in what Vietnam considers its exclusive economic zone (EEZ), led to the worst breakdown in relations since a brief border war in 1979.
The oil industry’s demand for energy is growing rapidly, and solar can supply much of that power, GlassPoint Solar CEO Rod MacGregor said.
The Ontario Teachers’ Pension Plan buys oil and gas royalty company Heritage Royalty for C$3.3 billion to acquire one of the largest royalty, mineral interests in Canada despite down commodity prices.
Australia-based Elk Petroleum Ltd. is actively exploring the idea of sourcing CO2 from a corn-ethanol plant to feed into its EOR activities in Nebraska.
Data from the EIA’s latest drilling production report projected about 16 MMcf/d will be produced in the Marcellus alone in July, up from about 15 MMcf/d in July 2014.
The project will use 4-D seismic imaging, horizontal drilling and pump technology. Polymer chemical injection technology’s role in maximizing economic recovery of U.K. hydrocarbon reserves will be demonstrated.
Polarled is the first pipeline on the Norwegian continental shelf that crosses the Arctic Circle and opens up a brand new highway for gas from the Norwegian Sea to Europe.
With crude oil prices halving in a year, oil firms have been forced to reduce spending, putting the oil services industry under severe pressure to slash costs.
The central processing facility, understood to be the world’s largest semisubmersible, was officially launched from the offshore floating dock at the Samsung Heavy Industries shipyard in Geoje, South Korea, where it has been under construction since 2013.
The 150,000 cubic-meter cargo will be sourced from French utility ENGIE, part of a cooperation agreement signed in July.
FMC Technologies will provide enhanced vertical deepwater trees, subsea manifolds, topside controls, a control system and a distribution system for the field, which is in the Mississippi Canyon area of the eastern GoM in 7,200 ft of water.