www.upstreamonline.com http://www.upstreamonline.com/ www.upstreamonline.com W&T plummets into the red http://www.upstreamonline.com/live/1399334/wandt-plummets-into-the-red US independent W&T Offshore dove to a loss in the first quarter of the year as write-offs and low oil prices offset a rise in output. Josh.Lewis@upstreamonline.com (Josh Lewis) http://www.upstreamonline.com/live/1399334/wandt-plummets-into-the-red Thu, 07 May 2015 03:18:16 +0000 live Transocean swings to quarterly loss http://www.upstreamonline.com/live/1399322/transocean-swings-to-quarterly-loss Offshore driller Transocean swung to a quarterly loss to start the year due primarily to a write-down on its deep-water floater assets. Luke.Johnson@upstreamonline.com (Luke Johnson) http://www.upstreamonline.com/live/1399322/transocean-swings-to-quarterly-loss Wed, 06 May 2015 22:13:14 +0000 live Marathon to spud Solomon wildcat http://www.upstreamonline.com/live/1399317/marathon-to-spud-solomon-wildcat US independent Marathon Oil expects to spud the first well on its Solomon prospect in the deep-water Gulf of Mexico in the second quarter of this year. caroline.evans@upstreamonline.com (Caroline Evans) http://www.upstreamonline.com/live/1399317/marathon-to-spud-solomon-wildcat Wed, 06 May 2015 22:09:29 +0000 live Pemex to release Diamond rig pair http://www.upstreamonline.com/incoming/1399158/pemex-to-release-diamond-rig-pair Mexican state oil company Pemex has issued written early termination notices to contractor Diamond Offshore covering the jackup drilling rigs Ocean Summit and Ocean Nugget. (Anamaria Deduleasa) http://www.upstreamonline.com/incoming/1399158/pemex-to-release-diamond-rig-pair Wed, 06 May 2015 16:01:04 +0000 ece_incoming Occidental posts quarterly loss http://www.upstreamonline.com/incoming/1399149/occidental-posts-quarterly-loss Occidental Petroleum saw its income take a significant quarterly hit, despite production increasing in the three-month period. (Anamaria Deduleasa) http://www.upstreamonline.com/incoming/1399149/occidental-posts-quarterly-loss Wed, 06 May 2015 14:45:39 +0000 ece_incoming Carrizo lifts shale target http://www.upstreamonline.com/live/1399147/carrizo-lifts-shale-target US shale producer Carrizo Oil & Gas is raising its output target this year while also cutting capital spending due to drilling savings after sinking into the red in the first quarter. Steve.Marshall@upstreamonline.com (Steve Marshall) http://www.upstreamonline.com/live/1399147/carrizo-lifts-shale-target Wed, 06 May 2015 14:21:27 +0000 live Rich rig rewards for Rowan http://www.upstreamonline.com/live/1399146/rich-rig-rewards-for-rowan US drilling contractor Rowan Companies more than doubled first-quarter profits as revenue from a trio of newbuild drillships offset the impact of a market slump that has hit rig demand and dayrates. Steve.Marshall@upstreamonline.com (Steve Marshall) http://www.upstreamonline.com/live/1399146/rich-rig-rewards-for-rowan Wed, 06 May 2015 13:52:43 +0000 live Profits plunge for Husky http://www.upstreamonline.com/live/1399143/profits-plunge-for-husky Husky Energy saw profits plunge in the first quarter as the Canadian integrated oil company suffered from lower crude and natural gas prices. Steve.Marshall@upstreamonline.com (Steve Marshall) http://www.upstreamonline.com/live/1399143/profits-plunge-for-husky Wed, 06 May 2015 13:21:54 +0000 live Chesapeake hit by writedown http://www.upstreamonline.com/live/1399142/chesapeake-hit-by-writedown US producer Chesapeake Energy has raised its output target for this year despite reporting a huge loss in the first quarter on hefty impairments. Steve.Marshall@upstreamonline.com (Steve Marshall) http://www.upstreamonline.com/live/1399142/chesapeake-hit-by-writedown Wed, 06 May 2015 13:03:29 +0000 live Royale to drill 30 wells http://www.upstreamonline.com/incoming/1399135/royale-to-drill-30-wells Royale Energy has acquired rights to drill up to 30 wells in the Ballinger oilfield in Runnels County, Texas. (Anamaria Deduleasa) http://www.upstreamonline.com/incoming/1399135/royale-to-drill-30-wells Wed, 06 May 2015 12:51:15 +0000 ece_incoming LetterOne in 'UK asset sale' http://www.upstreamonline.com/live/1399133/letterone-in-uk-asset-sale Mikhail Fridman’s LetterOne group is set to formally launch the sale of North Sea gas fields it had acquired from RWE, bowing to UK threats to revoke the assets' licences unless the Russian tycoon relinquishes ownership, according to a report. (News Wires) http://www.upstreamonline.com/live/1399133/letterone-in-uk-asset-sale Wed, 06 May 2015 12:34:44 +0000 live Aibel bags Heidrun job for Maria http://www.upstreamonline.com/live/1399126/aibel-bags-heidrun-job-for-maria Local contractor to carry out modifications on Statoil platform for new field project off Norway Steve.Marshall@upstreamonline.com (Steve Marshall) http://www.upstreamonline.com/live/1399126/aibel-bags-heidrun-job-for-maria Wed, 06 May 2015 12:13:59 +0000 live Goodrich production drops http://www.upstreamonline.com/incoming/1399125/goodrich-production-drops Goodrich Petroleum saw its revenues halved in the first quarter as the US junior’s production levels decreased, leaving it with a negative result. (Anamaria Deduleasa) http://www.upstreamonline.com/incoming/1399125/goodrich-production-drops Wed, 06 May 2015 12:04:44 +0000 ece_incoming Proserv delivers on Brazil projects http://www.upstreamonline.com/incoming/1399103/proserv-delivers-on-brazil-projects Proserv has completed the first phase of delivering its subsea control systems for deep-water projects in Brazil, the UK services player said on Wednesday. (Anamaria Deduleasa) http://www.upstreamonline.com/incoming/1399103/proserv-delivers-on-brazil-projects Wed, 06 May 2015 10:12:22 +0000 ece_incoming Boardroom exits at Statoil http://www.upstreamonline.com/live/1399102/boardroom-exits-at-statoil Statoil’s long-serving chairman has decided to step down, with another director also set to leave the board, in the latest high-profile departures from the Norwegian state-owned oil company after its former chief executive was poached by BG Group last year. Steve.Marshall@upstreamonline.com (Steve Marshall) http://www.upstreamonline.com/live/1399102/boardroom-exits-at-statoil Wed, 06 May 2015 10:00:43 +0000 live Plexus wins work on Premier well http://www.upstreamonline.com/incoming/1399093/plexus-wins-work-on-premier-well Plexus Holding has received an order from Premier Oil to supply its signature POS-GRIP wellhead engineering system for an exploration well to be drilled off Norway. (Anamaria Deduleasa) http://www.upstreamonline.com/incoming/1399093/plexus-wins-work-on-premier-well Wed, 06 May 2015 09:30:51 +0000 ece_incoming SeaBird swings to profit http://www.upstreamonline.com/live/1399092/seabird-swings-to-profit Norwegian seismic contractor SeaBird Exploration swung back to profit in the first quarter as it booked a hefty gain on a successful financial restructuring, despite falling revenue due to a market slump. Steve.Marshall@upstreamonline.com (Steve Marshall) http://www.upstreamonline.com/live/1399092/seabird-swings-to-profit Wed, 06 May 2015 09:17:35 +0000 live Dolphin profits dip http://www.upstreamonline.com/incoming/1399088/dolphin-profits-dip Norwegian seismic company Dolphin Geophysical saw its profits fall in the first quarter, despite an increase in revenues. (Anamaria Deduleasa) http://www.upstreamonline.com/incoming/1399088/dolphin-profits-dip Wed, 06 May 2015 08:42:13 +0000 ece_incoming Pacific Rubiales in takeover talks http://www.upstreamonline.com/live/1399086/pacific-rubiales-in-takeover-talks Latin America-focused producer Pacific Rubiales Energy has confirmed that it is in talks with Mexico's Alfa and Noble Group affiliate Harbour Energy for a takeover of the company. Steve.Marshall@upstreamonline.com (Steve Marshall) http://www.upstreamonline.com/live/1399086/pacific-rubiales-in-takeover-talks Wed, 06 May 2015 08:08:02 +0000 live Red ink for DNO http://www.upstreamonline.com/live/1399083/red-ink-for-dno DNO slumped to a loss in the first quarter on lower revenue due to low oil prices, reduced crude sales in Kurdistan and a writedown on its Yemen operations where production has been suspended due to security concerns. Steve.Marshall@upstreamonline.com (Steve Marshall) http://www.upstreamonline.com/live/1399083/red-ink-for-dno Wed, 06 May 2015 07:46:44 +0000 live CGG widens losses http://www.upstreamonline.com/live/1399082/cgg-widens-losses French seismic player CGG sank deeper into the red in the first quarter of the year as clients reconsider capital expenditure amid lower oil prices. Josh.Lewis@upstreamonline.com (Josh Lewis) http://www.upstreamonline.com/live/1399082/cgg-widens-losses Wed, 06 May 2015 07:36:03 +0000 live Lundin posts Q1 loss http://www.upstreamonline.com/live/1399079/lundin-posts-q1-loss Sweden's Lundin Petroleum slid into the red as lower oil prices resulted in a drop in revenue while foreign exchange losses also hit the company's bottom line. Josh.Lewis@upstreamonline.com (Josh Lewis) http://www.upstreamonline.com/live/1399079/lundin-posts-q1-loss Wed, 06 May 2015 07:00:20 +0000 live Det Norske returns to profit http://www.upstreamonline.com/live/1399076/det-norske-returns-to-profit Norway's Det Norske Oljeselskap returned to profit during the first quarter of the year as increased production helped drive up revenue. Josh.Lewis@upstreamonline.com (Josh Lewis), Steve.Marshall@upstreamonline.com (Steve Marshall) http://www.upstreamonline.com/live/1399076/det-norske-returns-to-profit Wed, 06 May 2015 06:02:38 +0000 live Petrobras sets Q1 release date http://www.upstreamonline.com/live/1399074/petrobras-sets-q1-release-date Brazilian state-run giant Petrobras has confirmed it will release its first quarter results at the end of next week. Josh.Lewis@upstreamonline.com (Josh Lewis) http://www.upstreamonline.com/live/1399074/petrobras-sets-q1-release-date Wed, 06 May 2015 03:54:02 +0000 live Long road to recovery for rigs http://www.upstreamonline.com/live/1399070/long-road-to-recovery-for-rigs Leading owners of floating drilling rigs do not expect market recovery for another two years, as newbuilds continue to roll out of yards and chartering activity worldwide remains anemic. (Erik Means) http://www.upstreamonline.com/live/1399070/long-road-to-recovery-for-rigs Wed, 06 May 2015 02:52:17 +0000 live 'Standardisation needs to happen, fast' http://www.upstreamonline.com/live/1399064/standardisation-needs-to-happen-fast Industry at critical juncture where collaboration needed to cut costs, contractor giants say Eoin.Ocinneide@upstreamonline.com (Eoin O'Cinneide) http://www.upstreamonline.com/live/1399064/standardisation-needs-to-happen-fast Wed, 06 May 2015 00:38:57 +0000 live TSC to sell jack-up http://www.upstreamonline.com/live/1399061/tsc-to-sell-jack-up Drilling-equipment-package specialist TSC Group, through its Singapore-based subsidiary Alliance Offshore Drilling (AOD), has completed a deal with a Houston—based drilling contractor to sell a jack-up rig under construction at China's CSSC Guangzhou Huangpu Shipbuilding. (Xu Yihe) http://www.upstreamonline.com/live/1399061/tsc-to-sell-jack-up Tue, 05 May 2015 23:47:57 +0000 live Hollub to head Oxy http://www.upstreamonline.com/live/1399058/hollub-to-head-oxy Occidental Petroleum has chosen Vicki Hollub to succeed current chief executive Stephen Chazen after a “thorough” transition period. caroline.evans@upstreamonline.com (Caroline Evans) http://www.upstreamonline.com/live/1399058/hollub-to-head-oxy Tue, 05 May 2015 23:05:50 +0000 live Industry 'needs to seize moment on costs' http://www.upstreamonline.com/sectors/politics/1399050/industry-needs-to-seize-moment-on-costs Today's sharply lower oil prices allow a unique opportunity to challenge convention and drive down costs in how offshore fields are developed, top executives at Technip and FMC Technologies said at the Offshore Technology conference. Eoin.Ocinneide@upstreamonline.com (Eoin O'Cinneide) http://www.upstreamonline.com/sectors/politics/1399050/industry-needs-to-seize-moment-on-costs Tue, 05 May 2015 21:48:34 +0000 sectors sectors_politics NDC secures two rigs from Ensco http://www.upstreamonline.com/live/1399049/ndc-secures-two-rigs-from-ensco Rig owner Ensco has contracted two of its units to Abu Dhabi's NDC. caroline.evans@upstreamonline.com (Caroline Evans) http://www.upstreamonline.com/live/1399049/ndc-secures-two-rigs-from-ensco Tue, 05 May 2015 21:46:13 +0000 live Tenaris looks to cut Bay City plant costs http://www.upstreamonline.com/live/1399035/tenaris-looks-to-cut-bay-city-plant-costs Tenaris is working with contractors building its seamless pipe factory in Bay City, Texas to try to lower the $1.8 billion price tag, according to the international oil country tubular goods giant’s chief executive. Noah.Brenner@nhst.no (Noah Brenner) http://www.upstreamonline.com/live/1399035/tenaris-looks-to-cut-bay-city-plant-costs Tue, 05 May 2015 19:46:20 +0000 live Fieldwood prowls for new assets http://www.upstreamonline.com/live/1399017/fieldwood-prowls-for-new-assets Private equity-backed US player Fieldwood Energy is on the prowl for acquisitions in its traditional operating area in the shallow waters of the Gulf of Mexico as well as new areas and sectors. Luke.Johnson@upstreamonline.com (Luke Johnson) http://www.upstreamonline.com/live/1399017/fieldwood-prowls-for-new-assets Tue, 05 May 2015 16:35:48 +0000 live Cameia sanction 'in sight' http://www.upstreamonline.com/live/1399009/cameia-sanction-in-sight Cobalt International Energy has affirmed that it intends to sanction by year-end its delayed Cameia field development project off Angola, where it has also recorded positive results from an appraisal of its Orca pre-salt discovery. Steve.Marshall@upstreamonline.com (Steve Marshall) http://www.upstreamonline.com/live/1399009/cameia-sanction-in-sight Tue, 05 May 2015 14:28:09 +0000 live Golar eyes third FLNG unit http://www.upstreamonline.com/live/1399003/golar-eyes-third-flng-unit Golar LNG is looking to exercise an option to order a third floating liquefaction vessel based on its GoFLNG technology on the heels of a contract signed with Ophir for use of the Gimi unit off Equatorial Guinea. Steve.Marshall@upstreamonline.com (Steve Marshall) http://www.upstreamonline.com/live/1399003/golar-eyes-third-flng-unit Tue, 05 May 2015 13:27:40 +0000 live Sechin gets five more years http://www.upstreamonline.com/live/1398996/sechin-gets-five-more-years Rosneft supremo Igor Sechin has secured a five-year extension of his contract at the Russian state-owned oil giant. Steve.Marshall@upstreamonline.com (Steve Marshall) http://www.upstreamonline.com/live/1398996/sechin-gets-five-more-years Tue, 05 May 2015 12:17:12 +0000 live US Gulf Surf's up for Ceona http://www.upstreamonline.com/live/1398994/us-gulf-surfs-up-for-ceona UK-based subsea contractor Ceona has secured a contract to install subsea umbilicals, risers and flowlines at Bennu Oil & Gas’ deep-water Mirage field in the US Gulf of Mexico. Steve.Marshall@upstreamonline.com (Steve Marshall) http://www.upstreamonline.com/live/1398994/us-gulf-surfs-up-for-ceona Tue, 05 May 2015 12:01:43 +0000 live Profits drop for Dana Gas http://www.upstreamonline.com/live/1398983/profits-drop-for-dana-gas United Arab Emirates-based Dana Gas saw profits slashed in the first quarter on reduced revenue due to lower hydrocarbon prices, despite maintaining stable production. Steve.Marshall@upstreamonline.com (Steve Marshall) http://www.upstreamonline.com/live/1398983/profits-drop-for-dana-gas Tue, 05 May 2015 07:46:48 +0000 live Chariot board takes pay cut http://www.upstreamonline.com/live/1398980/chariot-board-takes-pay-cut The board of Chariot Oil & Gas has agreed to take a 50% pay cut, while the London-listed company’s chief financial officer has also decided to step down. Steve.Marshall@upstreamonline.com (Steve Marshall) http://www.upstreamonline.com/live/1398980/chariot-board-takes-pay-cut Tue, 05 May 2015 07:16:51 +0000 live Kazakh deal collapses for Tethys http://www.upstreamonline.com/live/1398979/kazakh-deal-collapses-for-tethys Tethys Petroleum’s proposed deal to sell half of its Kazakhstan assets to a Chinese investor has fallen through after it failed to gain official approval and the company is now focusing on strategic alternatives, including a possible corporate sale. Steve.Marshall@upstreamonline.com (Steve Marshall) http://www.upstreamonline.com/live/1398979/kazakh-deal-collapses-for-tethys Tue, 05 May 2015 06:57:57 +0000 live Prices hit Tethys' profits http://www.upstreamonline.com/live/1398977/prices-hit-tethys-profits Sweden's Tethys Oil saw first quarter profits slip as lower oil prices offset a rise in production. Josh.Lewis@upstreamonline.com (Josh Lewis) http://www.upstreamonline.com/live/1398977/prices-hit-tethys-profits Tue, 05 May 2015 06:21:49 +0000 live Helix takes delivery of Q5000 http://www.upstreamonline.com/live/1398975/helix-takes-delivery-of-q5000 Offshore service provider Helix Energy Solutions has taken delivery of a semi-submersible well intervention vessel from Sembcorp Marine’s Jurong shipyard in Singapore. Josh.Lewis@upstreamonline.com (Josh Lewis) http://www.upstreamonline.com/live/1398975/helix-takes-delivery-of-q5000 Tue, 05 May 2015 02:47:48 +0000 live EOG slumps to a loss http://www.upstreamonline.com/live/1398974/eog-slumps-to-a-loss Houston-based EOG Resources dove to a loss in the first quarter of the year as lower prices hit revenue. Josh.Lewis@upstreamonline.com (Josh Lewis) http://www.upstreamonline.com/live/1398974/eog-slumps-to-a-loss Tue, 05 May 2015 01:07:29 +0000 live Onshore drives Anadarko's growth http://www.upstreamonline.com/live/1398967/onshore-drives-anadarkos-growth Drilling efficiencies and cost savings helped Anadarko Petroleum achieve record production in the first quarter of 2015. caroline.evans@upstreamonline.com (Caroline Evans) http://www.upstreamonline.com/live/1398967/onshore-drives-anadarkos-growth Mon, 04 May 2015 22:15:52 +0000 live Newcomer UIS eyes acquisitions http://www.upstreamonline.com/live/1398963/newcomer-uis-eyes-acquisitions A new private equity-backed subsea services player is hitting the acquisitions trail with a $150 million kitty as it looks to plug what it sees as a gap in the global subsea integrity market. Eoin.Ocinneide@upstreamonline.com (Eoin O'Cinneide) http://www.upstreamonline.com/live/1398963/newcomer-uis-eyes-acquisitions Mon, 04 May 2015 21:45:05 +0000 live GE continues R&D drive http://www.upstreamonline.com/live/1398959/ge-continues-randd-drive GE Oil & Gas is increasing its capital expenditure on product development despite the recent sharp decline in oil prices. Eoin.Ocinneide@upstreamonline.com (Eoin O'Cinneide) http://www.upstreamonline.com/live/1398959/ge-continues-randd-drive Mon, 04 May 2015 19:56:58 +0000 live Tracerco takes CT pipe scanning subsea http://www.upstreamonline.com/live/1398958/tracerco-takes-ct-pipe-scanning-subsea The first deepwater commercial application of a new subsea pipeline inspection technology incorporating computerised tomography (CT) has been successfully completed on a Gulf of Mexico oil pipeline. Noah.Brenner@nhst.no (Noah Brenner) http://www.upstreamonline.com/live/1398958/tracerco-takes-ct-pipe-scanning-subsea Mon, 04 May 2015 19:43:03 +0000 live Brazil puts blocks out for bid http://www.upstreamonline.com/live/1398956/brazil-puts-blocks-out-for-bid Brazil in October will kick off its 13th bid round for oil and gas concessions, putting up acreage both in onshore mature fields and high-potential offshore basins, officials said at Offshore Technology Conference 2015 in Houston. Noah.Brenner@nhst.no (Noah Brenner) http://www.upstreamonline.com/live/1398956/brazil-puts-blocks-out-for-bid Mon, 04 May 2015 19:34:45 +0000 live Statoil weighs US Gulf farm-in options http://www.upstreamonline.com/live/1398955/statoil-weighs-us-gulf-farm-in-options Opportunities to farm in to exploration prospects in the US Gulf of Mexico are in large supply as operators look to drill with smaller equity stakes, according to Statoil's head of exploration. Noah.Brenner@nhst.no (Noah Brenner) http://www.upstreamonline.com/live/1398955/statoil-weighs-us-gulf-farm-in-options Mon, 04 May 2015 19:24:58 +0000 live Honghua rig orders hit by Russia woes http://www.upstreamonline.com/live/1398953/honghua-rig-orders-hit-by-russia-woes Chinese land rig fabricator Sichuan Honghua Petroleum Equipment expects its overseas revenues and orderbook to drop by 10% this year as a result of dwindling demand from Russia. Noah.Brenner@nhst.no (Noah Brenner) http://www.upstreamonline.com/live/1398953/honghua-rig-orders-hit-by-russia-woes Mon, 04 May 2015 19:08:09 +0000 live Orca gas find looks like a whale http://www.upstreamonline.com/live/1398943/orca-gas-find-looks-like-a-whale The Orca-1 gas discovery that Petrobras made off Colombia’s Caribbean coast has been estimated at between 1 trillion and 2 trillion cubic feet. Noah.Brenner@nhst.no (Noah Brenner) http://www.upstreamonline.com/live/1398943/orca-gas-find-looks-like-a-whale Mon, 04 May 2015 17:15:35 +0000 live Kosmos dives to loss on low prices http://www.upstreamonline.com/live/1398932/kosmos-dives-to-loss-on-low-prices Kosmos Energy swung to a loss in the first quarter of 2015 due to low oil prices and exploration expenses but the US explorer crowed about its basin-opening gas find offshore Mauritania. Noah.Brenner@nhst.no (Noah Brenner) http://www.upstreamonline.com/live/1398932/kosmos-dives-to-loss-on-low-prices Mon, 04 May 2015 15:07:19 +0000 live Musical chairs at Chinese giants http://www.upstreamonline.com/live/1398917/musical-chairs-at-chinese-giants China has appointed Wang Yilin and Yang Hua as the respective new chairmen of state-owned entities China National Petroleum Corporation (CNPC) and China National Offshore Oil Corporation (CNOOC). Steve.Marshall@upstreamonline.com (Steve Marshall) http://www.upstreamonline.com/live/1398917/musical-chairs-at-chinese-giants Mon, 04 May 2015 12:43:34 +0000 live More Hout work in sight for McDermott http://www.upstreamonline.com/live/1398916/more-hout-work-in-sight-for-mcdermott McDermott International has secured a significantly enlarged workscope under an amendment to its existing contract for fabrication and modification work on the offshore Hout field in the Neutral Zone between Saudi Arabia and Kuwait. Steve.Marshall@upstreamonline.com (Steve Marshall) http://www.upstreamonline.com/live/1398916/more-hout-work-in-sight-for-mcdermott Mon, 04 May 2015 12:18:32 +0000 live Rough result for Diamond http://www.upstreamonline.com/live/1398909/rough-result-for-diamond US rig contractor Diamond Offshore sank to a heavy loss in the first quarter after being forced to write down the value of eight rigs due to a drilling market slump, with three of the units to be scrapped. Steve.Marshall@upstreamonline.com (Steve Marshall) http://www.upstreamonline.com/live/1398909/rough-result-for-diamond Mon, 04 May 2015 10:38:07 +0000 live Expro wins Statoil work off Canada http://www.upstreamonline.com/live/1398905/expro-wins-statoil-work-off-canada Expro has secured a $45 million deal with Statoil to provide well services on drilling operations being carried out by the Norwegian state-owned explorer in the Flemish Pass basin off Newfoundland in eastern Canada. Steve.Marshall@upstreamonline.com (Steve Marshall) http://www.upstreamonline.com/live/1398905/expro-wins-statoil-work-off-canada Mon, 04 May 2015 10:09:52 +0000 live Bergen Group cans deal http://www.upstreamonline.com/live/1398897/bergen-group-cans-deal Norway’s Bergen Group has been forced to pull the plug on a deal to sell off its rig repair and modification business to rival Semco Maritime after the parties failed to meet a deadline for completion of the transaction. Steve.Marshall@upstreamonline.com (Steve Marshall) http://www.upstreamonline.com/live/1398897/bergen-group-cans-deal Mon, 04 May 2015 08:27:29 +0000 live Archer to slash more jobs http://www.upstreamonline.com/live/1398891/archer-to-slash-more-jobs Drilling services contractor Archer is being forced to slash more jobs amid a market downturn after seeing its net loss widen in the first quarter on lower revenue despite a cost-cutting effort. Steve.Marshall@upstreamonline.com (Steve Marshall) http://www.upstreamonline.com/live/1398891/archer-to-slash-more-jobs Mon, 04 May 2015 07:54:33 +0000 live WorleyParsons to cut jobs http://www.upstreamonline.com/live/1398887/worleyparsons-to-cut-jobs Australian services company WorleyParsons expects to cut more than 2000 jobs as it warned earnings for the current financial year to be down as a result of low commodity prices. Josh.Lewis@upstreamonline.com (Josh Lewis) http://www.upstreamonline.com/live/1398887/worleyparsons-to-cut-jobs Mon, 04 May 2015 04:44:18 +0000 live MEO dismisses new Mosman offer http://www.upstreamonline.com/live/1398885/meo-dismisses-new-mosman-offer The directors of oil player MEO Australia have advised shareholders to reject a revised takeover offer from UK-based Mosman Oil & Gas. Josh.Lewis@upstreamonline.com (Josh Lewis) http://www.upstreamonline.com/live/1398885/meo-dismisses-new-mosman-offer Mon, 04 May 2015 03:50:55 +0000 live Tahir buys Ramba stake http://www.upstreamonline.com/live/1398840/tahir-buys-ramba-stake Singapore-listed Ramba Energy has received a funding boost from Indonesian business tycoon Dato Sri Tahir who will take a 14.9% stake in the company. Josh.Lewis@upstreamonline.com (Josh Lewis) http://www.upstreamonline.com/live/1398840/tahir-buys-ramba-stake Sun, 03 May 2015 23:51:33 +0000 live Batchelder in as Oxy chair http://www.upstreamonline.com/live/1398831/batchelder-in-as-oxy-chair A former ConocoPhillips executive has been elected as board chair at US operator Occidental Petroleum. caroline.evans@upstreamonline.com (Caroline Evans) http://www.upstreamonline.com/live/1398831/batchelder-in-as-oxy-chair Fri, 01 May 2015 20:55:23 +0000 live Encana sells Wyoming asset package http://www.upstreamonline.com/live/1398825/encana-sells-wyoming-asset-package Privately held Aethon Energy Management and RedBird Capital Partners bought out Encana’s position in the Moneta Divide area in Wyoming for an undisclosed sum. Noah.Brenner@nhst.no (Noah Brenner) http://www.upstreamonline.com/live/1398825/encana-sells-wyoming-asset-package Fri, 01 May 2015 18:53:37 +0000 live Ferguson nets MacKellar Sub-Sea http://www.upstreamonline.com/live/1398818/ferguson-nets-mackellar-sub-sea Scotland’s Ferguson Marine Engineering has snapped up two compatriot companies that had gone into administration. Eoin.Ocinneide@upstreamonline.com (Eoin O'Cinneide) http://www.upstreamonline.com/live/1398818/ferguson-nets-mackellar-sub-sea Fri, 01 May 2015 16:29:09 +0000 live Chevron profits slide in first quarter http://www.upstreamonline.com/incoming/1398795/chevron-profits-slide-in-first-quarter Chevron saw its earnings drop by 43% in the first quarter amid falling crude oil prices, although a strong showing by the US supermajor's refining and marketing business helped limit the declines. (Anamaria Deduleasa) http://www.upstreamonline.com/incoming/1398795/chevron-profits-slide-in-first-quarter Fri, 01 May 2015 13:42:03 +0000 ece_incoming Dolphin in new rig lay-up http://www.upstreamonline.com/live/1398791/dolphin-in-new-rig-lay-up Fred Olsen Energy’s rig subsidiary Dolphin Drilling is reportedly being forced to lay off up to 180 employees as another unit is set to be laid up due to a market slump. Steve.Marshall@upstreamonline.com (Steve Marshall) http://www.upstreamonline.com/live/1398791/dolphin-in-new-rig-lay-up Fri, 01 May 2015 12:36:07 +0000 live Siem agrees vessel sale http://www.upstreamonline.com/live/1398764/siem-agrees-vessel-sale Siem Offshore has agreed a $120 million deal to sell a subsea construction vessel to Daya Materials, while amending charter terms for a sister unit with the Malaysian subsea contractor. Steve.Marshall@upstreamonline.com (Steve Marshall) http://www.upstreamonline.com/live/1398764/siem-agrees-vessel-sale Fri, 01 May 2015 10:29:51 +0000 live Marginal field pact adds new partner http://www.upstreamonline.com/incoming/1398760/marginal-field-pact-adds-new-partner Enegi Oil has enlisted a third partner, Apollo Offshore Engineering, to join a collaborative contractor effort aimed at driving down the costs of marginal field developments. (Anamaria Deduleasa) http://www.upstreamonline.com/incoming/1398760/marginal-field-pact-adds-new-partner Fri, 01 May 2015 09:17:54 +0000 ece_incoming Profits up for Kongsberg http://www.upstreamonline.com/live/1398761/profits-up-for-kongsberg Norway’s diversified Kongsberg Group reported higher profits in the first quarter on record sales for its maritime division as cost-cutting within oil & gas technologies helped it to turn a profit despite a market slump that has hit revenue. Steve.Marshall@upstreamonline.com (Steve Marshall) http://www.upstreamonline.com/live/1398761/profits-up-for-kongsberg Fri, 01 May 2015 08:53:55 +0000 live Chariot gains Mauritania extension http://www.upstreamonline.com/incoming/1398758/chariot-gains-mauritania-extension Chariot Oil & Gas has secured a one-year extension of the exploration phase for the C-19 block off Mauritania as it targets further prospects for drilling. (Anamaria Deduleasa) http://www.upstreamonline.com/incoming/1398758/chariot-gains-mauritania-extension Fri, 01 May 2015 08:15:37 +0000 ece_incoming 'Revamp' at Saudi Aramco http://www.upstreamonline.com/live/1398755/revamp-at-saudi-aramco Saudi Arabia has approved a restructuring of Saudi Aramco that includes separating it from the Oil Ministry, a Saudi-owned TV station reported, in a decision analysts said aims to make the state oil giant more transparent and keep it away from political sway. (News Wires) http://www.upstreamonline.com/live/1398755/revamp-at-saudi-aramco Fri, 01 May 2015 07:41:39 +0000 live Cape lands BP contract http://www.upstreamonline.com/live/1398751/cape-lands-bp-contract London-listed service provider Cape has been awarded a two year contract to supply services to UK supermajor BP in the North Sea. Josh.Lewis@upstreamonline.com (Josh Lewis) http://www.upstreamonline.com/live/1398751/cape-lands-bp-contract Fri, 01 May 2015 06:34:41 +0000 live Prices hit PTTEP's profits http://www.upstreamonline.com/live/1398747/prices-hit-ptteps-profits Thailand's PTT Exploration & Production (PTTEP) saw profits fall in the first quarter of the year as lower prices offset an increase in sales volumes. Josh.Lewis@upstreamonline.com (Josh Lewis) http://www.upstreamonline.com/live/1398747/prices-hit-ptteps-profits Fri, 01 May 2015 03:37:26 +0000 live Aramco moves Hercules contract end date http://www.upstreamonline.com/live/1398739/aramco-moves-hercules-contract-end-date Hercules Offshore is still trying to continue a rig contract with Saudi Aramco, despite the Saudi oil giant deciding to end it more than four years early. Eoin.Ocinneide@upstreamonline.com (Eoin O'Cinneide) http://www.upstreamonline.com/live/1398739/aramco-moves-hercules-contract-end-date Thu, 30 Apr 2015 23:26:25 +0000 live Cao takes Saipem CEO role http://www.upstreamonline.com/live/1398698/cao-takes-saipem-ceo-role Stefano Cao has been named chief executive of Italian services player Saipem, taking over from long-time leader Umberto Vergine. Eoin.Ocinneide@upstreamonline.com (Eoin O'Cinneide) http://www.upstreamonline.com/live/1398698/cao-takes-saipem-ceo-role Thu, 30 Apr 2015 17:08:10 +0000 live Connacher chairman dies http://www.upstreamonline.com/live/1398697/connacher-chairman-dies The chairman of the board of Connacher Oil & Gas has passed away, the Canadian junior said. Luke.Johnson@upstreamonline.com (Luke Johnson) http://www.upstreamonline.com/live/1398697/connacher-chairman-dies Thu, 30 Apr 2015 16:50:35 +0000 live Ferreira named Petrobras chairman http://www.upstreamonline.com/live/1398696/ferreira-named-petrobras-chairman Murilo Ferreira has been confirmed as the new chairman of Petrobras, weeks after he was nominated for the post at the beleaguered Brazilian giant. Eoin.Ocinneide@upstreamonline.com (Eoin O'Cinneide) http://www.upstreamonline.com/live/1398696/ferreira-named-petrobras-chairman Thu, 30 Apr 2015 16:47:00 +0000 live Pemex continues contract talks http://www.upstreamonline.com/live/1398692/pemex-continues-contract-talks Pemex is continuing with negotiations for rigs, helicopters and accommodation vessels amid a global downturn in dayrates, the company said. Kathrine.Schmidt@upstreamonline.com (Kathrine Schmidt) http://www.upstreamonline.com/live/1398692/pemex-continues-contract-talks Thu, 30 Apr 2015 15:42:15 +0000 live Afren in $1.65bn loss http://www.upstreamonline.com/live/1398691/afren-in-usd-165bn-loss Afren has slumped to a large full-year loss after it took impairments on assets in Iraq and West Africa. Eoin.Ocinneide@upstreamonline.com (Eoin O'Cinneide) http://www.upstreamonline.com/live/1398691/afren-in-usd-165bn-loss Thu, 30 Apr 2015 15:41:27 +0000 live OneSubsea, Helix in well technology pact http://www.upstreamonline.com/incoming/1398685/onesubsea-helix-in-well-technology-pact OneSubsea and Helix Energy Solutions are to collaborate on developing and manufacturing a new well intervention technology. (Anamaria Deduleasa) http://www.upstreamonline.com/incoming/1398685/onesubsea-helix-in-well-technology-pact Thu, 30 Apr 2015 14:39:55 +0000 ece_incoming Surgutneftegaz gains on forex http://www.upstreamonline.com/live/1398684/surgutneftegaz-gains-on-forex Russia’s Surgutneftegaz reported a huge foreign exchange gain last year to send net profit soaring. Eoin.Ocinneide@upstreamonline.com (Eoin O'Cinneide) http://www.upstreamonline.com/live/1398684/surgutneftegaz-gains-on-forex Thu, 30 Apr 2015 14:28:45 +0000 live ExxonMobil profits chopped http://www.upstreamonline.com/live/1398679/exxonmobil-profits-chopped First-quarter earnings halved for US supermajor due to lower commodity prices Steve.Marshall@upstreamonline.com (Steve Marshall) http://www.upstreamonline.com/live/1398679/exxonmobil-profits-chopped Thu, 30 Apr 2015 13:44:56 +0000 live Change of guard at Sinopec http://www.upstreamonline.com/live/1398672/change-of-guard-at-sinopec Former Daqing oilfield chief Wang Yupu is expected to be appointed chairman of China’s second largest energy company Sinopec on the retirement of present incumbent Fu Chengyu, according to reports Steve.Marshall@upstreamonline.com (Steve Marshall) http://www.upstreamonline.com/live/1398672/change-of-guard-at-sinopec Thu, 30 Apr 2015 12:41:16 +0000 live Red ink for ConocoPhillips http://www.upstreamonline.com/live/1398670/red-ink-for-conocophillips ConocoPhillips plunged to a first-quarter loss as lower oil prices slashed its revenue despite a boost in production. Steve.Marshall@upstreamonline.com (Steve Marshall) http://www.upstreamonline.com/live/1398670/red-ink-for-conocophillips Thu, 30 Apr 2015 12:31:11 +0000 live Profits plunge for Cosco http://www.upstreamonline.com/incoming/1398669/profits-plunge-for-cosco Chinese fabrication group Cosco saw its net profit plunge 94% in the first quarter as offshore construction work dries up amid an industry slump. (Anamaria Deduleasa) http://www.upstreamonline.com/incoming/1398669/profits-plunge-for-cosco Thu, 30 Apr 2015 12:21:53 +0000 ece_incoming Repsol set to wrap Talisman takeover http://www.upstreamonline.com/incoming/1398668/repsol-set-to-wrap-talisman-takeover Talisman Energy has confirmed that its $13 billion acquisition by Spanish oil company Repsol will be completed next month. (Anamaria Deduleasa) http://www.upstreamonline.com/incoming/1398668/repsol-set-to-wrap-talisman-takeover Thu, 30 Apr 2015 12:14:55 +0000 ece_incoming Nostrum sees revenue drop http://www.upstreamonline.com/incoming/1398665/nostrum-sees-revenue-drop Kazakhstan-focused player Nostrum Oil & Gas expects lower first-quarter revenue, despite maintaining stable production, amid low oil prices. (Anamaria Deduleasa) http://www.upstreamonline.com/incoming/1398665/nostrum-sees-revenue-drop Thu, 30 Apr 2015 10:20:49 +0000 ece_incoming Eurasia deal deadline extended http://www.upstreamonline.com/incoming/1398657/eurasia-deal-deadline-extended The deadline for completion of Schlumberger’s proposed $1.7 billion deal to acquire a stake in Russian rig contractor Eurasia Drilling has been extended for a second time due to regulatory talks. (Anamaria Deduleasa) http://www.upstreamonline.com/incoming/1398657/eurasia-deal-deadline-extended Thu, 30 Apr 2015 10:08:32 +0000 ece_incoming North Energy boss steps down http://www.upstreamonline.com/live/1398656/north-energy-boss-steps-down The boss of North Energy has resigned from the post as he no longer has the trust of the board of the loss-making Norwegian minnow, the company said. Steve.Marshall@upstreamonline.com (Steve Marshall) http://www.upstreamonline.com/live/1398656/north-energy-boss-steps-down Thu, 30 Apr 2015 08:46:31 +0000 live KMG EP sees profits slashed http://www.upstreamonline.com/incoming/1398655/kmg-ep-sees-profits-slashed KazMunaiGas Exploration Production (KMG EP) saw its profit drop severely in the first quarter due to a lower foreign exchange gain and a fall in revenue. (Anamaria Deduleasa) http://www.upstreamonline.com/incoming/1398655/kmg-ep-sees-profits-slashed Thu, 30 Apr 2015 08:42:28 +0000 ece_incoming Suncor posts quarterly loss http://www.upstreamonline.com/incoming/1398654/suncor-posts-quarterly-loss Suncor Energy turned profit into loss in the first quarter despite higher production as the company took a foreign exchange hit. (Anamaria Deduleasa) http://www.upstreamonline.com/incoming/1398654/suncor-posts-quarterly-loss Thu, 30 Apr 2015 08:35:58 +0000 ece_incoming Polarcus slumps to loss http://www.upstreamonline.com/live/1398653/polarcus-slumps-to-loss Oslo-listed seismic player Polarcus saw its share price tumble on Thursday after reporting a first-quarter loss of $26.4 million on weaker activity due to exploration cutbacks by oil companies. Steve.Marshall@upstreamonline.com (Steve Marshall) http://www.upstreamonline.com/live/1398653/polarcus-slumps-to-loss Thu, 30 Apr 2015 08:12:43 +0000 live Lundin secures extra financing http://www.upstreamonline.com/live/1398649/lundin-secures-extra-financing Swedish company Lundin Petroleum has secured a Nkr4.5 billion ($599 million) financing facility which it says provides it with additional liquidity during the current low oil price environment. Josh.Lewis@upstreamonline.com (Josh Lewis) http://www.upstreamonline.com/live/1398649/lundin-secures-extra-financing Thu, 30 Apr 2015 07:42:35 +0000 live PGS to lay up vessel pair http://www.upstreamonline.com/live/1398646/pgs-to-lay-up-vessel-pair Petroleum Geo-Services (PGS) is being forced to lay up another two vessels after sinking to a loss in the first quarter as weak vessel utilisation due to sluggish seismic demand hit its bottom line. Steve.Marshall@upstreamonline.com (Steve Marshall) http://www.upstreamonline.com/live/1398646/pgs-to-lay-up-vessel-pair Thu, 30 Apr 2015 07:04:42 +0000 live Shell posts steady profits http://www.upstreamonline.com/live/1398645/shell-posts-steady-profits Anglo-Dutch supermajor Shell posted steady profits for the first quarter of the year, despite a sharp drop in quarterly revenue. Josh.Lewis@upstreamonline.com (Josh Lewis) http://www.upstreamonline.com/live/1398645/shell-posts-steady-profits Thu, 30 Apr 2015 06:29:02 +0000 live Statoil slides to a loss http://www.upstreamonline.com/live/1398644/statoil-slides-to-a-loss Norwegian giant Statoil posted a loss for the first quarter of the year as impairments and lower revenues hit the company's bottom line. Josh.Lewis@upstreamonline.com (Josh Lewis) http://www.upstreamonline.com/live/1398644/statoil-slides-to-a-loss Thu, 30 Apr 2015 06:11:19 +0000 live Drillsearch's revenues dip http://www.upstreamonline.com/live/1398642/drillsearchs-revenues-dip Australia's Drillsearch Energy saw revenues slip in the first quarter of the year as production and prices fell. Josh.Lewis@upstreamonline.com (Josh Lewis) http://www.upstreamonline.com/live/1398642/drillsearchs-revenues-dip Thu, 30 Apr 2015 03:56:27 +0000 live Murphy sinks to a loss http://www.upstreamonline.com/live/1398637/murphy-sinks-to-a-loss US company Murphy Oil dived to a loss in the first quarter of the year as lower prices and increased costs and expenses hit the company's bottom line. Josh.Lewis@upstreamonline.com (Josh Lewis) http://www.upstreamonline.com/live/1398637/murphy-sinks-to-a-loss Thu, 30 Apr 2015 00:37:12 +0000 live Atwood grows income http://www.upstreamonline.com/live/1398636/atwood-grows-income Despite the oil price downturn, US offshore driller Atwood Oceanics posted a rise in first quarter income and revenue over the previous year. caroline.evans@upstreamonline.com (Caroline Evans) http://www.upstreamonline.com/live/1398636/atwood-grows-income Wed, 29 Apr 2015 23:21:59 +0000 live Ensco increases profits http://www.upstreamonline.com/live/1398635/ensco-increases-profits Offshore contractor Ensco said it increased its profits and revenues in the first three months of 2015 despite the gloomy outlook for the drilling sector. Luke.Johnson@upstreamonline.com (Luke Johnson) http://www.upstreamonline.com/live/1398635/ensco-increases-profits Wed, 29 Apr 2015 22:59:32 +0000 live Newfield closes two US offices http://www.upstreamonline.com/live/1398629/newfield-closes-two-us-offices Newfield Exploration will close its offices in Denver and North Houston and consolidate its operations into its headquarters in the The Woodlands, Texas, and a regional office in Tulsa, Oklahoma, the company said. Noah.Brenner@nhst.no (Noah Brenner) http://www.upstreamonline.com/live/1398629/newfield-closes-two-us-offices Wed, 29 Apr 2015 21:11:58 +0000 live