www.upstreamonline.com http://www.upstreamonline.com/ www.upstreamonline.com North Energy secures drilling cash http://www.upstreamonline.com/live/1387206/North-Energy-secures-drilling-cash North Energy has secured the renewal of a Nkr950 million ($129.4 million) exploration loan facility to gain the necessary financing for upcoming drilling work over the next two years. Steve.Marshall@upstreamonline.com (Steve Marshall) http://www.upstreamonline.com/live/1387206/North-Energy-secures-drilling-cash Fri, 19 Dec 2014 15:34:11 +0000 live Rem delays vessel delivery http://www.upstreamonline.com/live/1387204/Rem-delays-vessel-delivery Oslo-listed shipowner Rem Offshore has decided to postpone delivery of a newbuild offshore construction vessel for a year due to a market downturn amid falling oil prices. Steve.Marshall@upstreamonline.com (Steve Marshall) http://www.upstreamonline.com/live/1387204/Rem-delays-vessel-delivery Fri, 19 Dec 2014 15:01:53 +0000 live Transocean to scrap more rigs http://www.upstreamonline.com/live/1387192/Transocean-to-scrap-more-rigs Transocean is set to incur a fourth-quarter charge of up to $140 million after deciding to scrap another seven rigs due to a market slump that has hit employment and dayrates. Steve.Marshall@upstreamonline.com (Steve Marshall) http://www.upstreamonline.com/live/1387192/Transocean-to-scrap-more-rigs Fri, 19 Dec 2014 13:39:08 +0000 live Iona Energy 'at risk of debt trouble' http://www.upstreamonline.com/live/1387178/Iona-Energy-at-risk-of-debt-trouble North Sea-focused Iona Energy has warned it may unable to repay bondholders because of restricted cash flows caused by production outages and the oil price slump. Bill.Lehane@upstreamonline.com (Bill Lehane) http://www.upstreamonline.com/live/1387178/Iona-Energy-at-risk-of-debt-trouble Fri, 19 Dec 2014 12:38:23 +0000 live Mariner wind in Schlumberger sails http://www.upstreamonline.com/live/1387149/Mariner-wind-in-Schlumberger-sails Schlumberger has been awarded a contract to provide drilling and well services for Statoil’s under-development Mariner heavy oil field off the UK. Steve.Marshall@upstreamonline.com (Steve Marshall) http://www.upstreamonline.com/live/1387149/Mariner-wind-in-Schlumberger-sails Fri, 19 Dec 2014 08:53:51 +0000 live Karoon appoints new chairman http://www.upstreamonline.com/live/1387133/Karoon-appoints-new-chairman Karoon Gas Australia has appointed a former executive of mining giant Rio Tinto as its new non-executive chairman. Josh.Lewis@upstreamonline.com (Josh Lewis) http://www.upstreamonline.com/live/1387133/Karoon-appoints-new-chairman Fri, 19 Dec 2014 03:43:15 +0000 live NZOG in share buy-back http://www.upstreamonline.com/live/1387130/NZOG-in-share-buy-back New Zealand Oil & Gas' (NZOG) shareholders have today voted in support of a NZ$60 million (US$46.7 million) buy-back of shares. (Russell Searancke) http://www.upstreamonline.com/live/1387130/NZOG-in-share-buy-back Fri, 19 Dec 2014 01:43:33 +0000 live Comstock swaps gas for oil in 2015 http://www.upstreamonline.com/live/1387092/Comstock-swaps-gas-for-oil-in-2015 Comstock Resources is moving its rigs from oily plays like the Eagle Ford and Tuscaloosa Marine shales back into the dry gas-producing Haynesville shale in response to low oil prices. Noah.Brenner@nhst.no (Noah Brenner) http://www.upstreamonline.com/live/1387092/Comstock-swaps-gas-for-oil-in-2015 Thu, 18 Dec 2014 18:50:37 +0000 live Subsea 7 job cuts 'forced by Norway lull' http://www.upstreamonline.com/live/1387064/Subsea-7-job-cuts-forced-by-Norway-lull Subsea 7’s move to cut between 100 and 150 jobs in Norway came as a result of the lack of new field development projects in the country, a spokesperson has said. Bill.Lehane@upstreamonline.com (Bill Lehane) http://www.upstreamonline.com/live/1387064/Subsea-7-job-cuts-forced-by-Norway-lull Thu, 18 Dec 2014 13:02:31 +0000 live Ocean Yield in vessel sale http://www.upstreamonline.com/live/1386937/Ocean-Yield-in-vessel-sale Oslo-listed offshore vessel owner Ocean Yield has sold its seismic vessel Geco Triton to charterer WesternGeco. Steve.Marshall@upstreamonline.com (Steve Marshall) http://www.upstreamonline.com/live/1386937/Ocean-Yield-in-vessel-sale Thu, 18 Dec 2014 10:28:15 +0000 live Damen wins Petrojarl 1 upgrade http://www.upstreamonline.com/live/1386928/Damen-wins-Petrojarl-1-upgrade Dutch builder Damen Shipyards has landed a lucrative contract for extensive upgrades to Teekay Offshore Partners’ Petrojarl 1 floating production, storage and offloading vessel for work off Brazil. Steve.Marshall@upstreamonline.com (Steve Marshall) http://www.upstreamonline.com/live/1386928/Damen-wins-Petrojarl-1-upgrade Thu, 18 Dec 2014 09:37:10 +0000 live Subsea 7 switches to two global units http://www.upstreamonline.com/live/1386927/Subsea-7-switches-to-two-global-units Oslo-listed Subsea 7 is reorganising its divisions into a less-costly, more strategically-focused model that will see a new executive vice president added to the team. Bill.Lehane@upstreamonline.com (Bill Lehane) http://www.upstreamonline.com/live/1386927/Subsea-7-switches-to-two-global-units Thu, 18 Dec 2014 09:28:50 +0000 live Ruvuma boost for Aminex http://www.upstreamonline.com/live/1386926/Ruvuma-boost-for-Aminex Aminex has raised the gas resource estimate by more than a third at its Ruvuma production sharing contract area onshore Tanzania after identifying a new prospect from 2D seismic. Steve.Marshall@upstreamonline.com (Steve Marshall) http://www.upstreamonline.com/live/1386926/Ruvuma-boost-for-Aminex Thu, 18 Dec 2014 08:40:33 +0000 live Evoworld preparing second Neon bid http://www.upstreamonline.com/live/1386919/Evoworld-preparing-second-Neon-bid Australia's Neon Energy has received a second takeover offer from Perth-based Evoworld, but has used its power to postpone a general meeting called for by the latter.. Josh.Lewis@upstreamonline.com (Josh Lewis) http://www.upstreamonline.com/live/1386919/Evoworld-preparing-second-Neon-bid Thu, 18 Dec 2014 05:30:26 +0000 live Niko hires financial advisor http://www.upstreamonline.com/live/1386916/Niko-hires-financial-advisor Troubled Canadian independent Niko Resources has hired a financial advisor to help it shape a strategy for its future survival. (Russell Searancke) http://www.upstreamonline.com/live/1386916/Niko-hires-financial-advisor Thu, 18 Dec 2014 01:32:03 +0000 live Rosetta 'flexible' on 2015 spending http://www.upstreamonline.com/live/1386911/Rosetta-flexible-on-2015-spending Rosetta Resources unveiled a "flexible" capital expenditure plan for 2015 that could see the US independent spend anywhere between $700 million and $900 million. Luke.Johnson@upstreamonline.com (Luke Johnson) http://www.upstreamonline.com/live/1386911/Rosetta-flexible-on-2015-spending Wed, 17 Dec 2014 23:45:26 +0000 live Marathon slashes capex for 2015 http://www.upstreamonline.com/live/1386908/Marathon-slashes-capex-for-2015 US independent Marathon Oil is slashing its 2015 capital expenditure budget by 20% year-on-year, the latest operator to cut spending amid deteriorating commodity prices. Luke.Johnson@upstreamonline.com (Luke Johnson) http://www.upstreamonline.com/live/1386908/Marathon-slashes-capex-for-2015 Wed, 17 Dec 2014 23:00:16 +0000 live Papa leaves EOG board http://www.upstreamonline.com/live/1386907/Papa-leaves-EOG-board Mark Papa is leaving his position on the board of EOG Resources effective immediately due to personal reasons, ending his official involvement with the company that he helped guide to a leading position in the US tight oil plays. Noah.Brenner@nhst.no (Noah Brenner) http://www.upstreamonline.com/live/1386907/Papa-leaves-EOG-board Wed, 17 Dec 2014 22:44:50 +0000 live Energy XXI attracts interest in assets http://www.upstreamonline.com/live/1386891/Energy-XXI-attracts-interest-in-assets US Gulf of Mexico shelf producer Energy XXI has attracted interest from nearly two dozen companies for a package of non-core assets it intends to sell as the Houston-based player looks to high-grade its asset base. Luke.Johnson@upstreamonline.com (Luke Johnson) http://www.upstreamonline.com/live/1386891/Energy-XXI-attracts-interest-in-assets Wed, 17 Dec 2014 21:06:06 +0000 live Hercules stacks another rig http://www.upstreamonline.com/live/1386886/Hercules-stacks-another-rig Offshore driller Hercules Offshore is stacking another rig in the US Gulf of Mexico as it tries to weather the storm of a deteriorating jack-up market. Luke.Johnson@upstreamonline.com (Luke Johnson) http://www.upstreamonline.com/live/1386886/Hercules-stacks-another-rig Wed, 17 Dec 2014 18:37:48 +0000 live Worldview pushes Petroceltic claims http://www.upstreamonline.com/live/1386877/Worldview-pushes-Petroceltic-claims Rebel shareholder Worldview Capital Management has again called for senior bosses at Irish independent Petroceltic International to resign in the wake of recent management share options awards amid what it views as poor performance. Bill.Lehane@upstreamonline.com (Bill Lehane) http://www.upstreamonline.com/live/1386877/Worldview-pushes-Petroceltic-claims Wed, 17 Dec 2014 17:02:12 +0000 live BG 'to ditch' Norway licence http://www.upstreamonline.com/live/1386869/BG-to-ditch-Norway-licence BG Group has reportedly decided to relinquish a Norwegian Sea licence, having come up dry with earlier exploration drilling. Steve.Marshall@upstreamonline.com (Steve Marshall) http://www.upstreamonline.com/live/1386869/BG-to-ditch-Norway-licence Wed, 17 Dec 2014 15:54:08 +0000 live Maritime cranes boom for Liebherr http://www.upstreamonline.com/live/1386864/Maritime-cranes-boom-for-Liebherr German engineering firm Leibherr Group said that boosted business in its maritime crane division in particular will help to maintain turnover this year despite marked decline in its construction machines and mining businesses. Bill.Lehane@upstreamonline.com (Bill Lehane) http://www.upstreamonline.com/live/1386864/Maritime-cranes-boom-for-Liebherr Wed, 17 Dec 2014 15:47:39 +0000 live Sheridan war chest swells http://www.upstreamonline.com/live/1386857/Sheridan-war-chest-swells Houston-based oil and gas investor Sheridan Production Partners has raised a further $1.5 billion to boost its war chest as it targets acquisitions of US onshore producing assets amid falling oil prices. Steve.Marshall@upstreamonline.com (Steve Marshall) http://www.upstreamonline.com/live/1386857/Sheridan-war-chest-swells Wed, 17 Dec 2014 15:04:12 +0000 live EMGS in Barents sales http://www.upstreamonline.com/live/1386851/EMGS-in-Barents-sales Electromagnetic Geoservices (EMGS) has struck a data licensing agreements for sales from its multi-client library in the Barents Sea off Norway. Steve.Marshall@upstreamonline.com (Steve Marshall) http://www.upstreamonline.com/live/1386851/EMGS-in-Barents-sales Wed, 17 Dec 2014 14:18:31 +0000 live Eagle Energy joins Spyglass in $100m buy http://www.upstreamonline.com/live/1386825/Eagle-Energy-joins-Spyglass-in-100m-buy Canada's Spyglass Resources has sold a 50% non-operating stake in its producing properties in the Dixonville Montney area of north-central Alberta in western Canada to fellow Calgary company Eagle Energy Trust for $100 million. Bill.Lehane@upstreamonline.com (Bill Lehane) http://www.upstreamonline.com/live/1386825/Eagle-Energy-joins-Spyglass-in-100m-buy Wed, 17 Dec 2014 09:47:31 +0000 live Seismic haul for SeaBird http://www.upstreamonline.com/live/1386824/Seismic-haul-for-SeaBird SeaBird Exploration is set to deploy one of its seismic vessels on source work in South East Asia under a newly awarded deal worth up to $4 million for an unnamed client. Steve.Marshall@upstreamonline.com (Steve Marshall) http://www.upstreamonline.com/live/1386824/Seismic-haul-for-SeaBird Wed, 17 Dec 2014 09:35:10 +0000 live Vard yard secures IMR newbuild http://www.upstreamonline.com/live/1386823/Vard-yard-secures-IMR-newbuild The Vard Vung Tau yard in Vietnam has won a Nkr520 million ($69 million) newbuild contract for a subsea construction vessel with Farstad Shipping. Steve.Marshall@upstreamonline.com (Steve Marshall) http://www.upstreamonline.com/live/1386823/Vard-yard-secures-IMR-newbuild Wed, 17 Dec 2014 08:28:54 +0000 live Solo, Aminex deal moves forward http://www.upstreamonline.com/live/1386821/Solo-Aminex-deal-moves-forward London-listed Solo Oil and Aminex are set to go through with a sale of a 13% interest in the Kiliwani North development licence for $7 million. bianca.bartucciotto@upstreamonline.com (Bianca Bartucciotto) http://www.upstreamonline.com/live/1386821/Solo-Aminex-deal-moves-forward Wed, 17 Dec 2014 07:58:44 +0000 live Subsea 7 bags Stampede job http://www.upstreamonline.com/live/1386820/Subsea-7-bags-Stampede-job Subsea 7 has secured subsea installation work for Hess on the giant Stampede field development project in the deep-water Gulf of Mexico. Steve.Marshall@upstreamonline.com (Steve Marshall) http://www.upstreamonline.com/live/1386820/Subsea-7-bags-Stampede-job Wed, 17 Dec 2014 07:53:21 +0000 live SBM not shaken by market http://www.upstreamonline.com/live/1386818/SBM-not-shaken-by-market Dutch player SBM Offshore has maintained its revenue guidance of at least $3.3 billion, despite an unstable oil market. bianca.bartucciotto@upstreamonline.com (Bianca Bartucciotto) http://www.upstreamonline.com/live/1386818/SBM-not-shaken-by-market Wed, 17 Dec 2014 06:48:25 +0000 live GE braces for oil and gas revenue fall http://www.upstreamonline.com/live/1386811/GE-braces-for-oil-and-gas-revenue-fall General Electric (GE) has given a 2015 profit forecast range that barely included Wall Street's target as the US conglomerate braced for a "sluggish" oil and gas sector due to plunging crude prices. Josh.Lewis@upstreamonline.com (Josh Lewis) http://www.upstreamonline.com/live/1386811/GE-braces-for-oil-and-gas-revenue-fall Wed, 17 Dec 2014 02:28:51 +0000 live Subsea 7 'cuts' Norway staff http://www.upstreamonline.com/live/1386782/Subsea-7-cuts-Norway-staff Subsea 7 is reported to be shedding 150 staff in Norway in a cost-cutting effort by the UK-based oilfield services contractor amid a downturn in its key North Sea market. Steve.Marshall@upstreamonline.com (Steve Marshall) http://www.upstreamonline.com/live/1386782/Subsea-7-cuts-Norway-staff Tue, 16 Dec 2014 14:15:55 +0000 live Paragon rig gearing for Total action http://www.upstreamonline.com/live/1386732/Paragon-rig-gearing-for-Total-action Paragon Offshore is set to put to work a second newbuild jack-up for Total after acceptance testing on the newly acquired rig is completed later this month. http://www.upstreamonline.com/live/1386732/Paragon-rig-gearing-for-Total-action Tue, 16 Dec 2014 12:05:07 +0000 live Sea Lion sanction delayed to 2016 http://www.upstreamonline.com/live/1386774/Sea-Lion-sanction-delayed-to-2016 The final investment decision for the Sea Lion discovery off the Falklands has been pushed back from the end of next year to mid-2016, junior partner Rockhopper Exploration said. Bill.Lehane@upstreamonline.com (Bill Lehane) http://www.upstreamonline.com/live/1386774/Sea-Lion-sanction-delayed-to-2016 Tue, 16 Dec 2014 11:55:54 +0000 live ControlCutter makes the cut http://www.upstreamonline.com/live/1386773/ControlCutter-makes-the-cut An innovative device to slice through vessel mooring chains to avert the risk of accidents has been successfully tested after the first installation of the technology on an offshore vessel. Steve.Marshall@upstreamonline.com (Steve Marshall) http://www.upstreamonline.com/live/1386773/ControlCutter-makes-the-cut Tue, 16 Dec 2014 11:21:14 +0000 live Captain FEED win for WGK http://www.upstreamonline.com/live/1386768/Captain-FEED-win-for-WGK Chevron has confirmed the award of a front-end engineering and design deal to Wood Group Kenny Caledonia for subsea work on the US supermajor’s Captain enhanced oil recovery project off the UK. Steve.Marshall@upstreamonline.com (Steve Marshall) http://www.upstreamonline.com/live/1386768/Captain-FEED-win-for-WGK Tue, 16 Dec 2014 10:58:00 +0000 live HitecVision bets on oilfield services http://www.upstreamonline.com/live/1386750/HitecVision-bets-on-oilfield-services Norwegian private equity player HitecVision is defying the oil market doldrums by merging five companies in its investment portfolio to form a new oilfield services contractor. Steve.Marshall@upstreamonline.com (Steve Marshall) http://www.upstreamonline.com/live/1386750/HitecVision-bets-on-oilfield-services Tue, 16 Dec 2014 08:31:35 +0000 live Antrim rejects Sound offer http://www.upstreamonline.com/live/1386747/Antrim-rejects-Sound-offer London-listed Antrim Energy has rejected an intended $10 million takeover offer from Sound Oil, declaring it not in the best interest of Antrim shareholders. bianca.bartucciotto@upstreamonline.com (Bianca Bartucciotto) http://www.upstreamonline.com/live/1386747/Antrim-rejects-Sound-offer Tue, 16 Dec 2014 07:56:06 +0000 live Repsol in $8.3bn Talisman buy http://www.upstreamonline.com/live/1386746/Repsol-in-8.3bn-Talisman-buy Spanish energy giant Repsol has reached an agreement to buy Canadian company Talisman Energy for US$8.3 billion. Josh.Lewis@upstreamonline.com (Josh Lewis) http://www.upstreamonline.com/live/1386746/Repsol-in-8.3bn-Talisman-buy Tue, 16 Dec 2014 07:46:22 +0000 live Apache cleared in federal court http://www.upstreamonline.com/live/1386734/Apache-cleared-in-federal-court Apache was not in breach of contract in a lawsuit brought by Houston-based oil and gas producer W&T Offshore in 2011, a federal jury found on Monday, according to a court filing. (News Wires) http://www.upstreamonline.com/live/1386734/Apache-cleared-in-federal-court Tue, 16 Dec 2014 05:55:39 +0000 live Peak, Octanex deal falls through http://www.upstreamonline.com/live/1386727/Peak-Octanex-deal-falls-through A potential merger between Peak Oil & Gas and Octanex has fallen through, after Peak withdrew an application to the Australian Supreme Court ordering a meeting to approve a scheme of arrangement. bianca.bartucciotto@upstreamonline.com (Bianca Bartucciotto) http://www.upstreamonline.com/live/1386727/Peak-Octanex-deal-falls-through Tue, 16 Dec 2014 02:20:47 +0000 live Repsol 'meets' on Talisman bid http://www.upstreamonline.com/live/1386702/Repsol-meets-on-Talisman-bid Repsol’s board was reportedly meeting in Madrid on Monday to discuss a possible bid to acquire the entire assets of Canadian player Talisman Energy. Steve.Marshall@upstreamonline.com (Steve Marshall) http://www.upstreamonline.com/live/1386702/Repsol-meets-on-Talisman-bid Mon, 15 Dec 2014 15:59:29 +0000 live CCB 'to raise rig game' http://www.upstreamonline.com/live/1386696/CCB-to-raise-rig-game Norway’s Coast Center Base (CCB) is reported to be investing Nkr26 million ($3.5 millon) in new facilities to compete for outfitting work on newbuild jack-ups set to be delivered over next few years. Steve.Marshall@upstreamonline.com (Steve Marshall) http://www.upstreamonline.com/live/1386696/CCB-to-raise-rig-game Mon, 15 Dec 2014 15:15:40 +0000 live CGG defiant after Technip talks end http://www.upstreamonline.com/live/1386695/CGG-defiant-after-Technip-talks-end French geosciences player CGG said it remains confident as an independent operation after talks on being acquired by compatriot Technip ended without agreement, causing its share price to plummet. Bill.Lehane@upstreamonline.com (Bill Lehane) http://www.upstreamonline.com/live/1386695/CGG-defiant-after-Technip-talks-end Mon, 15 Dec 2014 15:01:11 +0000 live Aibel suffers 'more lay-offs' http://www.upstreamonline.com/live/1386692/Aibel-suffers-more-lay-offs Norwegian contractor Aibel is reportedly being forced to lay off another 75 staff due to a reduction in the number of orders. Steve.Marshall@upstreamonline.com (Steve Marshall) http://www.upstreamonline.com/live/1386692/Aibel-suffers-more-lay-offs Mon, 15 Dec 2014 14:52:04 +0000 live Apache in $3.75bn LNG sale http://www.upstreamonline.com/live/1386677/Apache-in-3.75bn-LNG-sale US independent Apache has agreed a deal worth a total of $3.75 billion to sell off its interests in the Wheatstone and Kitimat liquefied natural gas projects, as well as associated reserves, to Australia’s Woodside Petroleum. Steve.Marshall@upstreamonline.com (Steve Marshall) http://www.upstreamonline.com/live/1386677/Apache-in-3.75bn-LNG-sale Mon, 15 Dec 2014 13:20:46 +0000 live Noreco seeks restructuring lifeline http://www.upstreamonline.com/live/1386661/Noreco-seeks-restructuring-lifeline Noreco is being forced to implement an urgent financial restructuring as falling oil prices and mounting field costs have left the cash-strapped Norwegian independent on the brink of bankruptcy. Steve.Marshall@upstreamonline.com (Steve Marshall) http://www.upstreamonline.com/live/1386661/Noreco-seeks-restructuring-lifeline Mon, 15 Dec 2014 10:19:39 +0000 live LGO Energy soars on Goudron flows http://www.upstreamonline.com/live/1386659/LGO-Energy-soars-on-Goudron-flows London-listed junior LGO Energy’s stock jumped by a third after the company achieved an 1100-barrel per day flowrate at its latest Goudron development well onshore Trinidad. Bill.Lehane@upstreamonline.com (Bill Lehane) http://www.upstreamonline.com/live/1386659/LGO-Energy-soars-on-Goudron-flows Mon, 15 Dec 2014 10:08:16 +0000 live Amec captures Captain FEED http://www.upstreamonline.com/live/1386656/Amec-captures-Captain-FEED Amec Foster Wheeler has secured a front-end engineering and design contract for platform work on Chevron’s Captain enhanced oil recovery project in the UK North Sea, confirming an earlier Upstream report. Steve.Marshall@upstreamonline.com (Steve Marshall) http://www.upstreamonline.com/live/1386656/Amec-captures-Captain-FEED Mon, 15 Dec 2014 08:59:05 +0000 live Dong appoints new E&P chief http://www.upstreamonline.com/live/1386653/Dong-appoints-new-EP-chief Dong Energy's long-serving head of exploration has announced he will step down from the role, with an executive from Abu Dhabi National Energy Company (Taqa) lined up to take over the position. Josh.Lewis@upstreamonline.com (Josh Lewis) http://www.upstreamonline.com/live/1386653/Dong-appoints-new-EP-chief Mon, 15 Dec 2014 07:46:33 +0000 live Vallianz wins Middle East work http://www.upstreamonline.com/live/1386650/Vallianz-wins-Middle-East-work Singaporean player Vallianz has won a US$97 million time charter award with one of the world’s largest oil companies in the Middle East. bianca.bartucciotto@upstreamonline.com (Bianca Bartucciotto) http://www.upstreamonline.com/live/1386650/Vallianz-wins-Middle-East-work Mon, 15 Dec 2014 04:34:27 +0000 live MEO labels Mosman offer as 'inferior' http://www.upstreamonline.com/live/1386603/MEO-labels-Mosman-offer-as-inferior MEO Australia has dismissed an off-market takeover offer from London-listed Mosman Oil & Gas as “inferior” compared to an existing proposal to merge with fellow Australian company Neon Energy. Josh.Lewis@upstreamonline.com (Josh Lewis) http://www.upstreamonline.com/live/1386603/MEO-labels-Mosman-offer-as-inferior Mon, 15 Dec 2014 02:03:27 +0000 live Swiber wins in West Africa http://www.upstreamonline.com/live/1386602/Swiber-wins-in-West-Africa Singapore’s Swiber Holdings has netted a $710 million contract from a Houston-based oil and gas company for an offshore field development project in West Africa. bianca.bartucciotto@upstreamonline.com (Bianca Bartucciotto) http://www.upstreamonline.com/live/1386602/Swiber-wins-in-West-Africa Mon, 15 Dec 2014 01:28:01 +0000 live Petroceltic fends off legal challenge http://www.upstreamonline.com/live/article1386589.ece Irish independent Petroceltic International is facing legal proceedings from a dissident shareholder over the way in which the business is being run. Steve.Marshall@upstreamonline.com (Steve Marshall) http://www.upstreamonline.com/live/article1386589.ece Fri, 12 Dec 2014 15:47:55 +0000 live Contract haul for Farstad http://www.upstreamonline.com/live/1386584/Contract-haul-for-Farstad Farstad Shipping has secured a raft of charters for five anchor-handling tug supply vessels off Australia worth a total of around Nkr350 million, as well as a deal with Technip that will require a newbuild. Steve.Marshall@upstreamonline.com (Steve Marshall) http://www.upstreamonline.com/live/1386584/Contract-haul-for-Farstad Fri, 12 Dec 2014 15:03:31 +0000 live Shift at top of Panoro http://www.upstreamonline.com/live/1386583/Shift-at-top-of-Panoro Norwegian independent Panoro Energy is relocating its headquarters to London and has reshuffled its top management after its chief executive quit on Friday. Steve.Marshall@upstreamonline.com (Steve Marshall) http://www.upstreamonline.com/live/1386583/Shift-at-top-of-Panoro Fri, 12 Dec 2014 14:41:36 +0000 live Repsol 'hatching' Talisman bid http://www.upstreamonline.com/live/1386562/Repsol-hatching-Talisman-bid Spanish oil company Repsol is reported to be preparing a €4 billion ($4.9 billion) offer to acquire Canadian player Talisman Energy. Steve.Marshall@upstreamonline.com (Steve Marshall), (News Wires) http://www.upstreamonline.com/live/1386562/Repsol-hatching-Talisman-bid Fri, 12 Dec 2014 11:57:32 +0000 live Rig return for Songa http://www.upstreamonline.com/live/1386556/Rig-return-for-Songa Songa Offshore’s laid-up rig Songa Trym is set to resume work for Statoil on full dayrate from around 1 January after its charter was suspended by the state-owned oil company, according to the rig contractor. Steve.Marshall@upstreamonline.com (Steve Marshall) http://www.upstreamonline.com/live/1386556/Rig-return-for-Songa Fri, 12 Dec 2014 11:05:20 +0000 live 'Lay-offs loom' at Norway vessel owners http://www.upstreamonline.com/live/1386554/Lay-offs-loom-at-Norway-vessel-owners Norwegian offshore vessel owners DOF Subsea and Island Offshore are reportedly set to lay off more than 100 workers largely due to cost cutbacks by major client Statoil and other operators. Steve.Marshall@upstreamonline.com (Steve Marshall) http://www.upstreamonline.com/live/1386554/Lay-offs-loom-at-Norway-vessel-owners Fri, 12 Dec 2014 10:10:48 +0000 live Noreco shares suspended http://www.upstreamonline.com/live/1386552/Noreco-shares-suspended Trading in the shares and bonds of Oslo-listed Noreco was suspended on Friday pending a key announcement on the financial fate of the beleaguered Norwegian independent. Steve.Marshall@upstreamonline.com (Steve Marshall) http://www.upstreamonline.com/live/1386552/Noreco-shares-suspended Fri, 12 Dec 2014 09:20:28 +0000 live Marcellus workers win $4.5m in unpaid wages http://www.upstreamonline.com/live/1386517/Marcellus-workers-win-4.5m-in-unpaid-wages Contractors in the Marcellus shale have been forced by the federal government to pay $4.5 million in back wages over the last two years to more than 5000 workers after an investigation revealed widespread underpayment of overtime. Noah.Brenner@nhst.no (Noah Brenner) http://www.upstreamonline.com/live/1386517/Marcellus-workers-win-4.5m-in-unpaid-wages Fri, 12 Dec 2014 01:02:10 +0000 live Pennsylvania orders XTO work halt http://www.upstreamonline.com/live/1386513/Pennsylvania-orders-XTO-work-halt Pennsylvania regulators have stopped work at a drilling location in the Marcellus shale constructed by a subsidiary of ExxonMobil after claiming the company started work on a heavy truck access point with getting the proper permits. Noah.Brenner@nhst.no (Noah Brenner) http://www.upstreamonline.com/live/1386513/Pennsylvania-orders-XTO-work-halt Fri, 12 Dec 2014 00:08:31 +0000 live KBR plans major overhaul http://www.upstreamonline.com/live/1386511/KBR-plans-major-overhaul Contracting giant KBR plans a major overhaul of its corporate structure to streamline its operations with a focus on consulting, technology, engineering and construction and government services while divesting or exiting various "non-strategic" businesses. Luke.Johnson@upstreamonline.com (Luke Johnson) http://www.upstreamonline.com/live/1386511/KBR-plans-major-overhaul Thu, 11 Dec 2014 23:56:01 +0000 live Halliburton lays off 1000 staff http://www.upstreamonline.com/live/1386510/Halliburton-lays-off-1000-staff Services giant Halliburton confirmed on Thursday that the company has laid off around 1000 workers in the Eastern Hemisphere due to challenging market conditions. Luke.Johnson@upstreamonline.com (Luke Johnson) http://www.upstreamonline.com/live/1386510/Halliburton-lays-off-1000-staff Thu, 11 Dec 2014 23:34:59 +0000 live Tag brings home new Taranaki acreage http://www.upstreamonline.com/live/1386502/Tag-brings-home-new-Taranaki-acreage Canada's Tag Oil added more than 36,700 acres in the Taranaki basin onshore New Zealand in that country's recent lease sale, potentially extending the company's running room at the Sidewinder discovery. Luke.Johnson@upstreamonline.com (Luke Johnson) http://www.upstreamonline.com/live/1386502/Tag-brings-home-new-Taranaki-acreage Thu, 11 Dec 2014 18:59:42 +0000 live Brazil plans Petrobras debt aid http://www.upstreamonline.com/live/1386488/Brazil-plans-Petrobras-debt-aid Brazilian oil giant Petrobras is on the verge of receiving help with debt financing from the state as the government lines up an asset-backed securities offering, according to Reuters. Eoin.Ocinneide@upstreamonline.com (Eoin O'Cinneide) http://www.upstreamonline.com/live/1386488/Brazil-plans-Petrobras-debt-aid Thu, 11 Dec 2014 16:08:41 +0000 live Cenovus cuts back, delays projects http://www.upstreamonline.com/live/1386382/Cenovus-cuts-back-delays-projects Cenovus Energy is cutting back it capital expenditure amid a weak oil price environment and has slowed down some of its current developments. Eoin.Ocinneide@upstreamonline.com (Eoin O'Cinneide) http://www.upstreamonline.com/live/1386382/Cenovus-cuts-back-delays-projects Thu, 11 Dec 2014 12:06:10 +0000 live Norog chief to quit http://www.upstreamonline.com/live/1386343/Norog-chief-to-quit The leader of Norway’s oil industry lobby group is stepping down amid an apparent top-level rift over the running of the organisation. Steve.Marshall@upstreamonline.com (Steve Marshall) http://www.upstreamonline.com/live/1386343/Norog-chief-to-quit Thu, 11 Dec 2014 11:20:49 +0000 live Bumi nets Madura floater deal http://www.upstreamonline.com/live/1386336/Bumi-nets-Madura-floater-deal A consortium led by Malaysian contractor Bumi Armada has finally been awarded a delayed contract to deliver a floating production, storage and offloading vessel for Husky Energy’s Madura BD field development off Indonesia. Steve.Marshall@upstreamonline.com (Steve Marshall) http://www.upstreamonline.com/live/1386336/Bumi-nets-Madura-floater-deal Thu, 11 Dec 2014 11:04:16 +0000 live Extension for SeaBird http://www.upstreamonline.com/live/1386335/Extension-for-SeaBird Oslo-listed SeaBird Exploration has secured a charter extension with TGS for its seismic vessel Osprey Explorer worth $3.2 million. Steve.Marshall@upstreamonline.com (Steve Marshall) http://www.upstreamonline.com/live/1386335/Extension-for-SeaBird Thu, 11 Dec 2014 10:45:26 +0000 live Mosman in MEO move http://www.upstreamonline.com/live/1386317/Mosman-in-MEO-move Mosman Oil & Gas has launched an all-shares bid to acquire Australian-listed player MEO Australia in a move to trump a proposed merger of the latter with Neon Energy that it claims could falter. Steve.Marshall@upstreamonline.com (Steve Marshall) http://www.upstreamonline.com/live/1386317/Mosman-in-MEO-move Thu, 11 Dec 2014 08:19:58 +0000 live Wood Group in BP win http://www.upstreamonline.com/live/1386316/Wood-Group-in-BP-win Aberdeen-based Wood Group has been awarded a $750 million contract for work on the UK continental shelf with BP. bianca.bartucciotto@upstreamonline.com (Bianca Bartucciotto) http://www.upstreamonline.com/live/1386316/Wood-Group-in-BP-win Thu, 11 Dec 2014 08:01:11 +0000 live SBM to cut 1200 jobs http://www.upstreamonline.com/live/1386315/SBM-to-cut-1200-jobs Contractor SBM Offshore is set to slash 1200 jobs over the next two years and move headquarters to the Netherlands as weak market conditions hit the company’s bottom line. bianca.bartucciotto@upstreamonline.com (Bianca Bartucciotto) http://www.upstreamonline.com/live/1386315/SBM-to-cut-1200-jobs Thu, 11 Dec 2014 06:53:39 +0000 live Santos cuts 2015 expenditure http://www.upstreamonline.com/live/1386306/Santos-cuts-2015-expenditure Australia’s Santos has announced plans to slash expenditure by 25% in 2015, but chief executive David Knox has defended the company’s financial position. bianca.bartucciotto@upstreamonline.com (Bianca Bartucciotto) http://www.upstreamonline.com/live/1386306/Santos-cuts-2015-expenditure Thu, 11 Dec 2014 03:20:58 +0000 live Jones chases Texas stacked pay http://www.upstreamonline.com/live/1386295/Jones-chases-Texas-stacked-pay US independent Jones Energy has snapped up acreage prospective for the Cleveland sandstone and other stacked potential in Hutchinson County, Texas, on the western edge of the Anadarko basin. Luke.Johnson@upstreamonline.com (Luke Johnson) http://www.upstreamonline.com/live/1386295/Jones-chases-Texas-stacked-pay Wed, 10 Dec 2014 19:07:13 +0000 live BP looks for US onshore growth http://www.upstreamonline.com/live/1386293/BP-looks-for-US-onshore-growth Supermajor BP said its new US onshore division plans to ramp up activity in gas-prone regions of its large legacy position where the unit hopes to leverage its subsurface expertise with more cost-conscious drilling standards. Noah.Brenner@nhst.no (Noah Brenner) http://www.upstreamonline.com/live/1386293/BP-looks-for-US-onshore-growth Wed, 10 Dec 2014 18:53:31 +0000 live Det Norske risks 'cash crunch' http://www.upstreamonline.com/live/1386271/Det-Norske-risks-cash-crunch Analysts have warned Det Norske Oljeselskap could be headed for a liquidity crisis as oil prices plunge due to its high debt leverage and that it may have to sell off some of the family silver – including its prized Johan Sverdrup asset. Steve.Marshall@upstreamonline.com (Steve Marshall) http://www.upstreamonline.com/live/1386271/Det-Norske-risks-cash-crunch Wed, 10 Dec 2014 14:21:03 +0000 live Goodrich eyes Eagle Ford sale http://www.upstreamonline.com/live/1386265/Goodrich-eyes-Eagle-Ford-sale US independent Goodrich Petroleum has said it could sell all or part of its Eagle Ford shale position in the first half of next year to boost its liquidity. Bill.Lehane@upstreamonline.com (Bill Lehane) http://www.upstreamonline.com/live/1386265/Goodrich-eyes-Eagle-Ford-sale Wed, 10 Dec 2014 12:59:57 +0000 live BP unveils upstream plan http://www.upstreamonline.com/live/1386249/BP-unveils-upstream-plan BP has vowed to “continue to invest” in exploration, but an increasing amount of its operating cash flow in the next 10 years is seen coming from gas value chains. Eoin.Ocinneide@upstreamonline.com (Eoin O'Cinneide) http://www.upstreamonline.com/live/1386249/BP-unveils-upstream-plan Wed, 10 Dec 2014 11:14:59 +0000 live Leyshon Energy warns of flow woe http://www.upstreamonline.com/live/1386240/Leyshon-Energy-warns-of-flow-woe Leyshon Energy has warned it is taking a hard look at its strategic options after sub-commercial results on its core shale gas asset in China and an inability to acquire new assets. Bill.Lehane@upstreamonline.com (Bill Lehane) http://www.upstreamonline.com/live/1386240/Leyshon-Energy-warns-of-flow-woe Wed, 10 Dec 2014 10:12:42 +0000 live KMG EP warns of production dip http://www.upstreamonline.com/live/1386238/KMG-EP-warns-of-production-dip Kazakhstan’s KazMunanaiGaz Exploration Production has warned of a slip in overall production next year as it targets raising output at its core fields but expects venture production to slide due to natural declines. Bill.Lehane@upstreamonline.com (Bill Lehane) http://www.upstreamonline.com/live/1386238/KMG-EP-warns-of-production-dip Wed, 10 Dec 2014 09:21:18 +0000 live BP faces $1bn restructuring costs http://www.upstreamonline.com/live/1386237/BP-faces-1bn-restructuring-costs BP has warned of restructuring charges amounting to about $1 billion in a little over the next year. Eoin.Ocinneide@upstreamonline.com (Eoin O'Cinneide) http://www.upstreamonline.com/live/1386237/BP-faces-1bn-restructuring-costs Wed, 10 Dec 2014 08:57:01 +0000 live HitecVision in Rocksource grab http://www.upstreamonline.com/live/1386236/HitecVision-in-Rocksource-grab Private equity investor HitecVision has launched a mandatory takeover offer to acquire the remaining shares in cash-strapped Norwegian minnow Rocksource. Steve.Marshall@upstreamonline.com (Steve Marshall) http://www.upstreamonline.com/live/1386236/HitecVision-in-Rocksource-grab Wed, 10 Dec 2014 08:47:22 +0000 live Rosneft seeks $15bn in bond cash http://www.upstreamonline.com/live/1386235/Rosneft-seeks-15bn-in-bond-cash Russian state-owned oil giant Rosneft is reported to be turning to the domestic bond market to plug a financing gap as sanctions by the US and Europe have cut off Western sources of cash. Steve.Marshall@upstreamonline.com (Steve Marshall) http://www.upstreamonline.com/live/1386235/Rosneft-seeks-15bn-in-bond-cash Wed, 10 Dec 2014 08:26:04 +0000 live CNOOC, ConocoPhillips sued over spill http://www.upstreamonline.com/live/1386234/CNOOC-ConocoPhillips-sued-over-spill A group of 21 Chinese firms are suing China National Offshore Oil Corporation (CNOOC) and ConocoPhillips for compensation of over 141 million yuan (US$22.80 million) for losses suffered due to oil spills at the duo's operations in 2011, according to court documents. (News Wires) http://www.upstreamonline.com/live/1386234/CNOOC-ConocoPhillips-sued-over-spill Wed, 10 Dec 2014 08:14:16 +0000 live Beach signs Origin GSA http://www.upstreamonline.com/live/1386229/Beach-signs-Origin-GSA Australia-listed Beach Energy is ready sell off more gas to Origin Energy from two of its Australian joint venture projects. bianca.bartucciotto@upstreamonline.com (Bianca Bartucciotto) http://www.upstreamonline.com/live/1386229/Beach-signs-Origin-GSA Wed, 10 Dec 2014 02:36:30 +0000 live Senex to cut costs http://www.upstreamonline.com/live/1386228/Senex-to-cut-costs Australia-listed Senex Energy is reviewing its spending commitments in response to changed market conditions and a plummeting oil price. bianca.bartucciotto@upstreamonline.com (Bianca Bartucciotto) http://www.upstreamonline.com/live/1386228/Senex-to-cut-costs Wed, 10 Dec 2014 01:03:30 +0000 live Halcon taps CNG for rig fuel http://www.upstreamonline.com/live/1386226/Halcon-taps-CNG-for-rig-fuel US independent Halcon Resources said it has commissioned its first compressed natural gas facility to fuel its drilling rigs, a move the company says will help it cut exploration costs. Luke.Johnson@upstreamonline.com (Luke Johnson) http://www.upstreamonline.com/live/1386226/Halcon-taps-CNG-for-rig-fuel Wed, 10 Dec 2014 00:01:37 +0000 live Baytex slashes capex http://www.upstreamonline.com/live/1386222/Baytex-slashes-capex Canadian producer Baytex Energy will cut its capital spending plans by 30% in 2015, joining a long list of companies pulling back amid low oil prices. Luke.Johnson@upstreamonline.com (Luke Johnson) http://www.upstreamonline.com/live/1386222/Baytex-slashes-capex Tue, 09 Dec 2014 22:50:15 +0000 live BG in $5bn pipeline sale http://www.upstreamonline.com/live/1386220/BG-in-5bn-pipeline-sale Gas giant BG Group has agreed to sell its subsidiary QCLNG Pipeline to Australia's APA Group for about $5 billion. Luke.Johnson@upstreamonline.com (Luke Johnson) http://www.upstreamonline.com/live/1386220/BG-in-5bn-pipeline-sale Tue, 09 Dec 2014 21:57:33 +0000 live Jumbo nets Wheatstone job http://www.upstreamonline.com/live/1386188/Jumbo-nets-Wheatstone-job Dutch contractor Jumbo has landed a deal from Technip to install a series of subsea structures on Chevron’s Wheatstone liquefied natural gas project off Western Australia. Eoin.Ocinneide@upstreamonline.com (Eoin O'Cinneide) http://www.upstreamonline.com/live/1386188/Jumbo-nets-Wheatstone-job Tue, 09 Dec 2014 16:07:11 +0000 live Dolphin plugs into 3D stream http://www.upstreamonline.com/live/1386178/Dolphin-plugs-into-3D-stream Dolphin Geophysical is buying advanced 3D streamer technology from Schlumberger unit WesternGeco in a deal that could pave the way for a wider acquisition. Steve.Marshall@upstreamonline.com (Steve Marshall) http://www.upstreamonline.com/live/1386178/Dolphin-plugs-into-3D-stream Tue, 09 Dec 2014 14:51:32 +0000 live Talisman confirms takeover talks http://www.upstreamonline.com/live/1386154/Talisman-confirms-takeover-talks Canada's Talisman Energy has confirmed it has been approached by a number of parties including Spanish oil major Repsol with regard to "various transactions". Bill.Lehane@upstreamonline.com (Bill Lehane) http://www.upstreamonline.com/live/1386154/Talisman-confirms-takeover-talks Tue, 09 Dec 2014 11:45:36 +0000 live SapuraKencana profits on upstream push http://www.upstreamonline.com/live/1386152/SapuraKencana-profits-on-upstream-push Malaysia’s SapuraKencana Petroleum has almost doubled its nine-month profits to 1.3 billion ringgit thanks to higher contributions from the upstream and drilling divisions. Bill.Lehane@upstreamonline.com (Bill Lehane) http://www.upstreamonline.com/live/1386152/SapuraKencana-profits-on-upstream-push Tue, 09 Dec 2014 11:13:46 +0000 live GMS fixes SESV newbuild in MENA http://www.upstreamonline.com/live/1386147/GMS-fixes-SESV-newbuild-in-MENA Offshore contractor Gulf Marine Services (GMS) has landed a contract for up to five years for one of its self-elevating support vessel (SESV) newbuilds, but has kept much of the detail under wraps. Eoin.Ocinneide@upstreamonline.com (Eoin O'Cinneide) http://www.upstreamonline.com/live/1386147/GMS-fixes-SESV-newbuild-in-MENA Tue, 09 Dec 2014 10:42:58 +0000 live Nighthawk 'profitable at $40 oil' http://www.upstreamonline.com/live/1386141/Nighthawk-profitable-at-40-oil US junior Nighthawk Energy is planning to drill a new inventory of low-cost conventional exploration and development oil wells that it says can turn a profit even if US crude prices sink as low as $40. Bill.Lehane@upstreamonline.com (Bill Lehane) http://www.upstreamonline.com/live/1386141/Nighthawk-profitable-at-40-oil Tue, 09 Dec 2014 10:19:45 +0000 live Gulfsands sells US Gulf assets http://www.upstreamonline.com/live/1386137/Gulfsands-sells-US-Gulf-assets Gulfsands Petroleum is offloading its Gulf of Mexico assets in a deal that will see it bag just $50,000 but offload decommissioning costs. Eoin.Ocinneide@upstreamonline.com (Eoin O'Cinneide) http://www.upstreamonline.com/live/1386137/Gulfsands-sells-US-Gulf-assets Tue, 09 Dec 2014 08:37:39 +0000 live Santos not affected by S&P http://www.upstreamonline.com/live/1386126/Santos-not-affected-by-SP A Standard & Poor’s rating downgrade will not affect Santos’ financial outlook, according to chief financial officer Andrew Seaton. bianca.bartucciotto@upstreamonline.com (Bianca Bartucciotto) http://www.upstreamonline.com/live/1386126/Santos-not-affected-by-SP Tue, 09 Dec 2014 03:14:37 +0000 live Midstates sees asset sale collapse http://www.upstreamonline.com/live/1386120/Midstates-sees-asset-sale-collapse Midstates Petroleum warned investors that the sale of its DeQuincy conventional oil assets in Louisiana has fallen through after the buyer terminated the sales agreement. Noah.Brenner@nhst.no (Noah Brenner) http://www.upstreamonline.com/live/1386120/Midstates-sees-asset-sale-collapse Mon, 08 Dec 2014 23:58:16 +0000 live