US Drillers Add Oil Rigs For Fifth Straight Week

Drillers added six oil rigs in the week to Feb. 17, bringing the total count up to 597, the most rigs since October 2015, energy services firm Baker Hughes Inc. (NYSE: BHI) said Feb. 17. During the same week a year ago, there were 413 active oil rigs.

US Senate Confirms Scott Pruitt As EPA Head

Senators voted 52-46 to approve Oklahoma Attorney General Scott Pruitt, who is expected to reform and modernize the EPA.

Santos Sees Caldita-Barossa Gas Investment Decision In Late 2018

The partners, led by ConocoPhillips (NYSE: COP), plan to start initial engineering and design work in late 2017 and to reach a final investment decision in late 2018 or early 2019, Santos Managing Director Kevin Gallagher told analysts at a results briefing.

Brent Eshleman Becomes President, CEO Of Bellatrix

Brent Eshleman has more than 30 years’ experience in the oil and gas industry and is an engineer.

Oil Traders Continue Making Big Bets, Despite Bearish Signals

A second consecutive massive build in U.S. crude stockpiles on Feb. 15 left the market relatively unimpressed, as the market awaited further evidence that OPEC cuts were in effect.

PGS Sees Higher Demand From Oil Companies, Fourth-Quarter Lags

​PGS posted a fourth-quarter loss before interest and taxes and excluding one-offs of $65 million, deeper than the expected loss of $38 million expected in a Reuters poll.

Cenovus May Restart Another Two Deferred Oil Sands Projects

The two projects, Foster Creek phase H and Narrows Lake phase A, would add up to 75,000 barrels per day of production.

Wintershall Goes Subsea With Skarfjell

Germany’s Wintershall and its partners in production license 418 (PL 418) offshore Norway have opted to move ahead with a subsea development for the Skarfjell Field in the North Sea.

Frank's International CFO Jeffrey Bird To Leave Company

The Houston-based company commented that Bird's departure was not related to any disagreement with Frank's or any matters relating to its operations, policies or practices.

Encana To Double Capital Spending In 2017

Encana has also narrowed operations to focus on four core North American plays: the Montney and Duvernay in Western Canada, and the Eagle Ford Shale and Permian in the U.S.

Development Briefs For Feb 16

Development Briefs For Feb 16

Oil Prices Rise On Possibility Of OPEC Extending Output Cuts

The supply pact could be extended by May if all major producers showed "effective cooperation," Reuters on Feb. 16 quoted an OPEC source as saying.