www.upstreamonline.com http://www.upstreamonline.com/ www.upstreamonline.com Chinese company buys Canadian junior http://www.upstreamonline.com/live/1401002/chinese-company-buys-canadian-junior An unnamed Chinese buyer has bought privately held Canadian producer New Star Energy for about C$215 million (US$173 million) in cash and plans to make the enhanced-recovery specialist a "beachhead" for a bigger operation in the country. Luke.Johnson@upstreamonline.com (Luke Johnson) http://www.upstreamonline.com/live/1401002/chinese-company-buys-canadian-junior Tue, 26 May 2015 23:12:09 +0000 live Trilantic backs E&P startup http://www.upstreamonline.com/live/1400998/trilantic-backs-eandp-startup The North American arm of global private equity firm Trilantic Capital Partners has agreed to invest $250 million in a newly formed exploration and production company. caroline.evans@upstreamonline.com (Caroline Evans) http://www.upstreamonline.com/live/1400998/trilantic-backs-eandp-startup Tue, 26 May 2015 22:10:15 +0000 live Petrobras executive sentenced to five years http://www.upstreamonline.com/live/1400995/petrobras-executive-sentenced-to-five-years A Brazilian judge sentenced a former international director at state-run oil firm Petroleo Brasileiro SA to five years in prison for money laundering on Tuesday, according to reports. caroline.evans@upstreamonline.com (Caroline Evans) http://www.upstreamonline.com/live/1400995/petrobras-executive-sentenced-to-five-years Tue, 26 May 2015 21:16:58 +0000 live Magnum Hunter sells West Virginia acreage http://www.upstreamonline.com/live/1400992/magnum-hunter-sells-west-virginia-acreage US junior Magnum Hunter has signed a deal to sell a little a package of non-core acreage in West Virginia for $40.8 million as it looks to raise enough cash to stay in compliance with its debt covenants. Noah.Brenner@nhst.no (Noah Brenner) http://www.upstreamonline.com/live/1400992/magnum-hunter-sells-west-virginia-acreage Tue, 26 May 2015 20:35:49 +0000 live Seventy Seven sells rig hauling unit http://www.upstreamonline.com/live/1400984/seventy-seven-sells-rig-hauling-unit Seventy Seven Energy has reached an agreement to sell its rig trucking unit to Aveda Transportation and Energy Services for an undisclosed sum. Noah.Brenner@nhst.no (Noah Brenner) http://www.upstreamonline.com/live/1400984/seventy-seven-sells-rig-hauling-unit Tue, 26 May 2015 18:07:57 +0000 live Hyperdynamics escapes DOJ charges http://www.upstreamonline.com/live/1400980/hyperdynamics-escapes-doj-charges The US Department of Justice (DOJ) has wrapped a corruption investigation into West Africa-focused player Hyperdynamics without bringing any charges against the company. Luke.Johnson@upstreamonline.com (Luke Johnson) http://www.upstreamonline.com/live/1400980/hyperdynamics-escapes-doj-charges Tue, 26 May 2015 17:08:19 +0000 live Riley buys into Cinco Resources http://www.upstreamonline.com/incoming/1400966/riley-buys-into-cinco-resources US independent Riley Exploration Group has acquired a 90% equity interest in Cinco Resources, an acquisition which will help the junior double its net production. (Anamaria Deduleasa) http://www.upstreamonline.com/incoming/1400966/riley-buys-into-cinco-resources Tue, 26 May 2015 15:59:44 +0000 ece_incoming Ecopetrol eyes $6bn cost cuts http://www.upstreamonline.com/live/1400961/ecopetrol-eyes-usd-6bn-cost-cuts Ecopetrol is looking to shave nearly $6 billion in costs in the second half of the decade as it aims to boost production and reserves, while concentrating on upstream exploration and production (E&P). Eoin.Ocinneide@upstreamonline.com (Eoin O'Cinneide) http://www.upstreamonline.com/live/1400961/ecopetrol-eyes-usd-6bn-cost-cuts Tue, 26 May 2015 15:34:43 +0000 live Newcomer Origo secures four licenses http://www.upstreamonline.com/incoming/1400958/newcomer-origo-secures-four-licenses Stavanger-based explorer Origo Exploration has signed agreements involving four licenses, in both UK and Norwegian waters, while targeting five exploration wells per year by 2020. (Anamaria Deduleasa) http://www.upstreamonline.com/incoming/1400958/newcomer-origo-secures-four-licenses Tue, 26 May 2015 15:28:52 +0000 ece_incoming Fairfield boss Peattie ‘to quit’ http://www.upstreamonline.com/live/1400918/fairfield-boss-peattie-to-quit David Peattie, the chief executive of UK North Sea-focused player Fairfield Energy, is to quit the company, according to a report. Eoin.Ocinneide@upstreamonline.com (Eoin O'Cinneide) http://www.upstreamonline.com/live/1400918/fairfield-boss-peattie-to-quit Tue, 26 May 2015 13:20:18 +0000 live Union nets Peru acreage http://www.upstreamonline.com/incoming/1400915/union-nets-peru-acreage Union Oil & Gas is getting its hands on an onshore block in Peru through the acquisition of a controlling stake in a company. (Anamaria Deduleasa) http://www.upstreamonline.com/incoming/1400915/union-nets-peru-acreage Tue, 26 May 2015 12:22:28 +0000 ece_incoming Colombia extra time for Interoil http://www.upstreamonline.com/live/1400863/colombia-extra-time-for-interoil Interoil Exploration & Production has been given more time by the Colombian authorities to provide a cash guarantee necessary to avert termination of an onshore licence, as well as an extension of the exploration term. Steve.Marshall@upstreamonline.com (Steve Marshall) http://www.upstreamonline.com/live/1400863/colombia-extra-time-for-interoil Tue, 26 May 2015 08:23:54 +0000 live Range signs $35m MoU http://www.upstreamonline.com/incoming/1400861/range-signs-usd-35m-mou Range Resources has signed a binding memorandum of understanding with investment fund Beijing Sibo worth up to $35 million, equity that will fund the London-listed player’s operational activities on its Guayaguayare blocks in Trinidad. (Anamaria Deduleasa) http://www.upstreamonline.com/incoming/1400861/range-signs-usd-35m-mou Tue, 26 May 2015 08:06:52 +0000 ece_incoming MEG shuts in over forest fire risk http://www.upstreamonline.com/live/1400860/meg-shuts-in-over-forest-fire-risk Canada’s MEG Energy has evacuated its Christina Lake oil sands facilities of many workers as forest fires burn in the region. Eoin.Ocinneide@upstreamonline.com (Eoin O'Cinneide) http://www.upstreamonline.com/live/1400860/meg-shuts-in-over-forest-fire-risk Tue, 26 May 2015 07:55:47 +0000 live Kongsberg in Sverdrup award http://www.upstreamonline.com/live/1400858/kongsberg-in-sverdrup-award Kongsberg Maritime has secured an order worth around Nkr200 million ($26 million) to deliver safety and automation as well as other systems for the giant Johan Sverdrup field project off Norway. Steve.Marshall@upstreamonline.com (Steve Marshall) http://www.upstreamonline.com/live/1400858/kongsberg-in-sverdrup-award Tue, 26 May 2015 07:49:25 +0000 live San Leon fights field claim http://www.upstreamonline.com/live/1400856/san-leon-fights-field-claim London-listed San Leon Energy has launched an appeal against an arbitration award in favour of former joint-venture partner Avobone over the latter’s exit from a Polish tight gas field. Steve.Marshall@upstreamonline.com (Steve Marshall) http://www.upstreamonline.com/live/1400856/san-leon-fights-field-claim Tue, 26 May 2015 07:36:28 +0000 live Bumi served arbitration notice http://www.upstreamonline.com/live/1400855/bumi-served-arbitration-notice Malaysia's Bumi Armada has received a notice of arbitration from Italian underwater trenching company Sea over a contract carried out on the Filanovsky field in the Caspian Sea. Josh.Lewis@upstreamonline.com (Josh Lewis) http://www.upstreamonline.com/live/1400855/bumi-served-arbitration-notice Tue, 26 May 2015 07:32:28 +0000 live BW sees profits slip http://www.upstreamonline.com/live/1400852/bw-sees-profits-slip Floater specialist BW Offshore saw profits slip in the first quarter of the year following a fall in revenue. Josh.Lewis@upstreamonline.com (Josh Lewis) http://www.upstreamonline.com/live/1400852/bw-sees-profits-slip Tue, 26 May 2015 06:18:26 +0000 live Shell hands contract to Barakah http://www.upstreamonline.com/live/1400850/shell-hands-contract-to-barakah Malaysia's Barakah Offshore Petroleum has been awarded a contract to supply equipment to support the offshore operations in the country of Anglo-Dutch supermajor Shell. Josh.Lewis@upstreamonline.com (Josh Lewis) http://www.upstreamonline.com/live/1400850/shell-hands-contract-to-barakah Tue, 26 May 2015 04:26:01 +0000 live Bentec wins rig deals http://www.upstreamonline.com/live/1400843/bentec-wins-rig-deals German rig manufacturer Bentec has secured a hat-trick of multi-million dollar contracts to supply rigs and equipment for clients in Russia and the Azeri sector of the Caspian Sea. Steve.Marshall@upstreamonline.com (Steve Marshall) http://www.upstreamonline.com/live/1400843/bentec-wins-rig-deals Mon, 25 May 2015 14:00:49 +0000 live Wintershall 'eyes Libya assets' http://www.upstreamonline.com/live/1400838/wintershall-eyes-libya-assets Germany’s Wintershall is reported to be looking at the possible acquisition of Libyan assets from Occidental Petroleum, despite civil unrest that has disrupted oil and gas activities in the strife-torn North African country. Steve.Marshall@upstreamonline.com (Steve Marshall) http://www.upstreamonline.com/live/1400838/wintershall-eyes-libya-assets Mon, 25 May 2015 10:15:32 +0000 live Skilled reopens merger talks http://www.upstreamonline.com/live/1400822/skilled-reopens-merger-talks Australian duo Skilled Group and Programmed Group have reopened talks over a potential merger, just months after the former had dismissed the idea. Josh.Lewis@upstreamonline.com (Josh Lewis) http://www.upstreamonline.com/live/1400822/skilled-reopens-merger-talks Mon, 25 May 2015 02:40:07 +0000 live US orders Plains to shut pipeline http://www.upstreamonline.com/live/1400770/us-orders-plains-to-shut-pipeline The US Department of Transportation has issued a corrective action order to Texas company Plains All American after one of its pipelines ruptured Tuesday and caused a massive spill along the California coastline. caroline.evans@upstreamonline.com (Caroline Evans) http://www.upstreamonline.com/live/1400770/us-orders-plains-to-shut-pipeline Fri, 22 May 2015 20:47:26 +0000 live ExxonMobil denies Iran sanctions lobbying http://www.upstreamonline.com/live/1400758/exxonmobil-denies-iran-sanctions-lobbying US supermajor ExxonMobil denied reports Friday that it had ramped up lobbying efforts with the US government over Iranian sanctions. caroline.evans@upstreamonline.com (Caroline Evans) http://www.upstreamonline.com/live/1400758/exxonmobil-denies-iran-sanctions-lobbying Fri, 22 May 2015 15:19:50 +0000 live BP sued by Colombian trade unionist http://www.upstreamonline.com/incoming/1400749/bp-sued-by-colombian-trade-unionist BP is being sued in London’s High Court by a Colombian trade union leader who is claiming damages against the supermajor over its alleged complicity in kidnap and torture. (Anamaria Deduleasa) http://www.upstreamonline.com/incoming/1400749/bp-sued-by-colombian-trade-unionist Fri, 22 May 2015 13:47:26 +0000 ece_incoming Strike risk in Norway rig wage row http://www.upstreamonline.com/live/1400746/strike-risk-in-norway-rig-wage-row A state mediator has been called in to avert a possible strike by thousands of workers on drilling rigs off Norway after wage talks between unions and employers broke down late on Thursday. Steve.Marshall@upstreamonline.com (Steve Marshall) http://www.upstreamonline.com/live/1400746/strike-risk-in-norway-rig-wage-row Fri, 22 May 2015 12:41:57 +0000 live Bond breather for Sterling http://www.upstreamonline.com/live/1400728/bond-breather-for-sterling Sterling Resources has gained an eleventh-hour reprieve from bondholders on outstanding debt repayments to ease the liquidity crunch of the cash-strapped Canadian player that is up for sale. Steve.Marshall@upstreamonline.com (Steve Marshall) http://www.upstreamonline.com/live/1400728/bond-breather-for-sterling Fri, 22 May 2015 10:08:24 +0000 live PetroNeft strikes oil at Russian well http://www.upstreamonline.com/incoming/1400718/petroneft-strikes-oil-at-russian-well PetroNeft has hit more oil with a follow-up well to its S-372 discovery in the Tomsk Oblast, Russia, propelling the London-listed player to consider bringing the field into production next year. (Anamaria Deduleasa) http://www.upstreamonline.com/incoming/1400718/petroneft-strikes-oil-at-russian-well Fri, 22 May 2015 08:36:43 +0000 ece_incoming Rig contracting risk for Odfjell http://www.upstreamonline.com/live/1400715/rig-contracting-risk-for-odfjell Odfjell Drilling risks having as much as 50% of its six-rig fleet out of work by the end of the year, having already laid up one of its drillships, due to a dearth of contract opportunities amid industry cutbacks and low oil prices. Steve.Marshall@upstreamonline.com (Steve Marshall) http://www.upstreamonline.com/live/1400715/rig-contracting-risk-for-odfjell Fri, 22 May 2015 08:05:51 +0000 live LGO hits more pay in Trinidad http://www.upstreamonline.com/incoming/1400714/lgo-hits-more-pay-in-trinidad LGO Energy has struck more hydrocarbons at its prolific Goudron field in Trinidad and has set its sights on doubling this year’s drilling programme. (Anamaria Deduleasa) http://www.upstreamonline.com/incoming/1400714/lgo-hits-more-pay-in-trinidad Fri, 22 May 2015 07:58:43 +0000 ece_incoming Prosafe agrees new Everest work programme http://www.upstreamonline.com/live/1400708/prosafe-agrees-new-everest-work-programme Norwegian accommodation rig specialist Prosafe and UK operator BG Group have reached an agreement to re-phase the work programme at the latter's Everest platform in the UK North Sea. Josh.Lewis@upstreamonline.com (Josh Lewis) http://www.upstreamonline.com/live/1400708/prosafe-agrees-new-everest-work-programme Fri, 22 May 2015 07:27:21 +0000 live Vanguard and Eagle Rock to merge http://www.upstreamonline.com/live/1400583/vanguard-and-eagle-rock-to-merge US independent Vanguard Natural Resources will acquire Houston’s Eagle Rock Energy Partners in a merger valued at $614 million. caroline.evans@upstreamonline.com (Caroline Evans) http://www.upstreamonline.com/live/1400583/vanguard-and-eagle-rock-to-merge Thu, 21 May 2015 22:34:27 +0000 live ENOC proposes $5.6bn Dragon offer http://www.upstreamonline.com/incoming/1400564/enoc-proposes-usd-56bn-dragon-offer Emirates National Oil Company (ENOC) has proposed a possible £3.6 billion ($5.6 billion) offer for shares of Turkmenistan-focused Dragon Oil. (Anamaria Deduleasa) http://www.upstreamonline.com/incoming/1400564/enoc-proposes-usd-56bn-dragon-offer Thu, 21 May 2015 15:59:40 +0000 ece_incoming Island in new vessel lay-up http://www.upstreamonline.com/live/1400554/island-in-new-vessel-lay-up Island Offshore has reportedly been forced to lay up a third platform supply vessel as a North Sea market slump has hit utilisation of its fleet. Steve.Marshall@upstreamonline.com (Steve Marshall) http://www.upstreamonline.com/live/1400554/island-in-new-vessel-lay-up Thu, 21 May 2015 14:22:07 +0000 live Oceaneering 'cuts more staff' http://www.upstreamonline.com/live/1400543/oceaneering-cuts-more-staff Oceaneering is reported to be laying off another 100 staff in Norway as a drop in drilling activity has taken a toll on the orderbook of the subsea services player. Steve.Marshall@upstreamonline.com (Steve Marshall) http://www.upstreamonline.com/live/1400543/oceaneering-cuts-more-staff Thu, 21 May 2015 11:33:34 +0000 live Range raises its Guayaguayare share http://www.upstreamonline.com/incoming/1400539/range-raises-its-guayaguayare-share Range Resources has signed an amendment agreement with Niko Resources to double its working interest in the Guayaguayare block in Trinidad & Tobago. (Anamaria Deduleasa) http://www.upstreamonline.com/incoming/1400539/range-raises-its-guayaguayare-share Thu, 21 May 2015 11:04:23 +0000 ece_incoming Schlumberger’s Eurasia deal decision ‘soon’ http://www.upstreamonline.com/incoming/1400538/schlumbergers-eurasia-deal-decision-soon Russia's federal antimonopoly service (FAS) has no objections against Schlumberger’s bid for Eurasia Drilling, but an official decision has yet to be made, according to a report. (Anamaria Deduleasa) http://www.upstreamonline.com/incoming/1400538/schlumbergers-eurasia-deal-decision-soon Thu, 21 May 2015 10:59:08 +0000 ece_incoming Board backs Pacific Rubiales bid http://www.upstreamonline.com/live/1400526/board-backs-pacific-rubiales-bid The board of Pacific Rubiales has given its backing to a proposed takeover of the Latin America-focused player by a combine of Mexico’s Alfa and Noble Group-affiliated investment vehicle Harbour Energy. Steve.Marshall@upstreamonline.com (Steve Marshall) http://www.upstreamonline.com/live/1400526/board-backs-pacific-rubiales-bid Thu, 21 May 2015 09:12:12 +0000 live Rocksource curbs loss as takeover looms http://www.upstreamonline.com/live/1400513/rocksource-curbs-loss-as-takeover-looms Rocksource virtually wiped out a first-quarter loss as its income was boosted by the sale of a licence stake and seismic data, with the Norwegian minnow set to be taken over by private-equity investor HitecVision. Steve.Marshall@upstreamonline.com (Steve Marshall) http://www.upstreamonline.com/live/1400513/rocksource-curbs-loss-as-takeover-looms Thu, 21 May 2015 08:12:13 +0000 live Range OKs St Mary programme http://www.upstreamonline.com/incoming/1400509/range-oks-st-mary-programme Range Resources and Petrotrin - the state oil and gas company of Trinidad & Tobago – have finalised their joint operating partnership and set the year’s work programme and budget for the St Mary's block on the island. (Anamaria Deduleasa) http://www.upstreamonline.com/incoming/1400509/range-oks-st-mary-programme Thu, 21 May 2015 08:06:28 +0000 ece_incoming Pan Pacific eyes asset sales http://www.upstreamonline.com/live/1400507/pan-pacific-eyes-asset-sales Zeta Resources takeover target looking to shop block stakes in New Zealand and Vietnam Eoin.Ocinneide@upstreamonline.com (Eoin O'Cinneide) http://www.upstreamonline.com/live/1400507/pan-pacific-eyes-asset-sales Thu, 21 May 2015 07:23:00 +0000 live WorleyParsons in Sakhalin settlement http://www.upstreamonline.com/live/1400502/worleyparsons-in-sakhalin-settlement Australian engineering company WorleyParsons has settled a dispute with US supermajor ExxonMobil related to the Arkutun-Dagi project’s offshore platform at Sakhalin-1 in the far east of Russia. Josh.Lewis@upstreamonline.com (Josh Lewis) http://www.upstreamonline.com/live/1400502/worleyparsons-in-sakhalin-settlement Thu, 21 May 2015 06:40:11 +0000 live BHP Billiton to pay up in bribery probe http://www.upstreamonline.com/live/1400494/bhp-billiton-to-pay-up-in-bribery-probe International operator BHP Billiton has agreed to pay $25 million in penalties to the US Securities & Exchange Commission (SEC), which has charged the company with violating the Foreign Corrupt Practices Act (FCPA) during the Summer Olympics in Beijing in 2008. caroline.evans@upstreamonline.com (Caroline Evans) http://www.upstreamonline.com/live/1400494/bhp-billiton-to-pay-up-in-bribery-probe Wed, 20 May 2015 23:09:37 +0000 live Brazil may face Q1 earnings re-do http://www.upstreamonline.com/live/1400493/brazil-may-face-q1-earnings-re-do Brazil's state-run oil company Petrobras may be forced to re-publish its first-quarter results after it included a contract completed after the reporting period, according to a report. Luke.Johnson@upstreamonline.com (Luke Johnson) http://www.upstreamonline.com/live/1400493/brazil-may-face-q1-earnings-re-do Wed, 20 May 2015 22:16:54 +0000 live BP settles Macondo claims with contractors http://www.upstreamonline.com/live/1400488/bp-settles-macondo-claims-with-contractors BP has agreed with two major contractors, Halliburton and Transocean, to resolve all outstanding legal claims related to the 2010 Macondo disaster. Luke.Johnson@upstreamonline.com (Luke Johnson) http://www.upstreamonline.com/live/1400488/bp-settles-macondo-claims-with-contractors Wed, 20 May 2015 20:38:48 +0000 live Pemex says no plans for downstream sale http://www.upstreamonline.com/live/1400483/pemex-says-no-plans-for-downstream-sale Mexico's state-owned Pemex downplayed reports on Wednesday that it intends to sell off its refining and petrochemical businesses saying it has no current plans to so. Luke.Johnson@upstreamonline.com (Luke Johnson) http://www.upstreamonline.com/live/1400483/pemex-says-no-plans-for-downstream-sale Wed, 20 May 2015 18:55:23 +0000 live More money for Galaz sale http://www.upstreamonline.com/incoming/1400462/more-money-for-galaz-sale The partners in the sale of the Galaz contract in Kazakhstan are due to receive an additional $10 million for the deal, after the recent rise in the price of Brent crude. (Anamaria Deduleasa) http://www.upstreamonline.com/incoming/1400462/more-money-for-galaz-sale Wed, 20 May 2015 14:32:05 +0000 ece_incoming Pioneering Spirit in further delay http://www.upstreamonline.com/live/1400450/pioneering-spirit-in-further-delay Allseas’ monster platform decommissioning vessel Pioneering Spirit is experiencing further delays in final completion as the company awaits delivery of some components. Eoin.Ocinneide@upstreamonline.com (Eoin O'Cinneide) http://www.upstreamonline.com/live/1400450/pioneering-spirit-in-further-delay Wed, 20 May 2015 14:11:37 +0000 live 'No wind' in North Sea sails http://www.upstreamonline.com/live/1400463/no-wind-in-north-sea-sails Siem Offshore sees a prolonged slump in the North Sea offshore vessel market as an oversupply of units and low chartering activity put pressure on dayrates. Steve.Marshall@upstreamonline.com (Steve Marshall) http://www.upstreamonline.com/live/1400463/no-wind-in-north-sea-sails Wed, 20 May 2015 14:10:28 +0000 live Blackbird to spud Montney well http://www.upstreamonline.com/incoming/1400458/blackbird-to-spud-montney-well Blackbird Energy has plans to drill one horizontal well at its Elmworth Montney project in western Canada as part of its summer drill programme. (Anamaria Deduleasa) http://www.upstreamonline.com/incoming/1400458/blackbird-to-spud-montney-well Wed, 20 May 2015 13:19:51 +0000 ece_incoming Rose sees positive Mancos shale results http://www.upstreamonline.com/incoming/1400434/rose-sees-positive-mancos-shale-results Rose Petroleum reported positive results from its State 1-34 well within the Mancos shale interval, in the Uinta basin, onshore US, propelling the AIM-listed player to plan for drilling by the end of the year. (Anamaria Deduleasa) http://www.upstreamonline.com/incoming/1400434/rose-sees-positive-mancos-shale-results Wed, 20 May 2015 12:43:01 +0000 ece_incoming COSL to 'lay up unit' http://www.upstreamonline.com/live/1400437/cosl-to-lay-up-unit COSL Drilling Europe is reported to be putting one of its accommodation units into lay-up as the Chinese-owned rig contractor suffers from an industry slump. Steve.Marshall@upstreamonline.com (Steve Marshall) http://www.upstreamonline.com/live/1400437/cosl-to-lay-up-unit Wed, 20 May 2015 10:27:13 +0000 live Sevan looks to break Arctic ice http://www.upstreamonline.com/live/1400431/sevan-looks-to-break-arctic-ice Sevan Marine is looking to land a licence award this year for use of its cylindrical floater technology on a newbuild drilling rig for deployment in harsh-environment Arctic waters. Steve.Marshall@upstreamonline.com (Steve Marshall) http://www.upstreamonline.com/live/1400431/sevan-looks-to-break-arctic-ice Wed, 20 May 2015 09:01:33 +0000 live KMG EP increases capex, well count http://www.upstreamonline.com/incoming/1400430/kmg-ep-increases-capex-well-count KazMunaiGas Exploration Production (KMG EP) has increased its capital expenditure by 13% as it plans an additional 38 wells to be drilled by the end of the year. (Anamaria Deduleasa) http://www.upstreamonline.com/incoming/1400430/kmg-ep-increases-capex-well-count Wed, 20 May 2015 08:46:12 +0000 ece_incoming Wintershall pulls out of Qatar http://www.upstreamonline.com/live/1400428/wintershall-pulls-out-of-qatar Wintershall is exiting Qatar after it deemed a gas discovery it made there to be uneconomic to develop amid conditions in the country. Eoin.Ocinneide@upstreamonline.com (Eoin O'Cinneide) http://www.upstreamonline.com/live/1400428/wintershall-pulls-out-of-qatar Wed, 20 May 2015 08:10:45 +0000 live Sound’s Nervesa well confirms gas http://www.upstreamonline.com/incoming/1400427/sounds-nervesa-well-confirms-gas Sound Oil has encountered a number of gas showing at its second Nervesa appraisal well in the Veneto region of northern Italy. (Anamaria Deduleasa) http://www.upstreamonline.com/incoming/1400427/sounds-nervesa-well-confirms-gas Wed, 20 May 2015 07:47:53 +0000 ece_incoming LNG Ltd raises export project funds http://www.upstreamonline.com/live/1400409/lng-ltd-raises-export-project-funds Australia’s Liquefied Natural Gas Limited (LNG Ltd) has raised A$174 million (US$137.6 million) to help fund the development of its North American LNG projects. Josh.Lewis@upstreamonline.com (Josh Lewis) http://www.upstreamonline.com/live/1400409/lng-ltd-raises-export-project-funds Wed, 20 May 2015 01:05:00 +0000 live Colfax buys GE subsidiary http://www.upstreamonline.com/live/1400408/colfax-buys-ge-subsidiary US manufacturer Colfax has bought GE Oil & Gas’ blower and compressors business unit in a $185 million deal. Josh.Lewis@upstreamonline.com (Josh Lewis) http://www.upstreamonline.com/live/1400408/colfax-buys-ge-subsidiary Tue, 19 May 2015 23:55:20 +0000 live Rowan signs new drilling deals http://www.upstreamonline.com/live/1400406/rowan-signs-new-drilling-deals Offshore rig owner Rowan signed one new contract and a handful of extensions in a fleet status report more positive than those released by competitors in recent months. Luke.Johnson@upstreamonline.com (Luke Johnson) http://www.upstreamonline.com/live/1400406/rowan-signs-new-drilling-deals Tue, 19 May 2015 22:31:49 +0000 live Petrobras gets $10bn credit line from China http://www.upstreamonline.com/live/1400400/petrobras-gets-usd-10bn-credit-line-from-china China has extended a $10 billion credit line to Brazil's state-owned oil company Petrobras as part of a major investment plan by the Asian giant into energy, infrastructure and mining industries in the South American country. Luke.Johnson@upstreamonline.com (Luke Johnson) http://www.upstreamonline.com/live/1400400/petrobras-gets-usd-10bn-credit-line-from-china Tue, 19 May 2015 20:20:10 +0000 live Shell undeterred in Alaska drill plans http://www.upstreamonline.com/live/1400397/shell-undeterred-in-alaska-drill-plans Anglo-Dutch supermajor Shell is undeterred by protests against its plans to drill off Alaska this summer, as chief executive Ben van Beurden defended the company's preparedness and legal authority to explore the Arctic waters. Luke.Johnson@upstreamonline.com (Luke Johnson) http://www.upstreamonline.com/live/1400397/shell-undeterred-in-alaska-drill-plans Tue, 19 May 2015 18:46:45 +0000 live Crowley acquires ship management outfit http://www.upstreamonline.com/live/1400389/crowley-acquires-ship-management-outfit Privately held transport and logistics specialist Crowley Maritime said it has acquired Seattle-based Maritime Management Services (MMS) in a bid to expand its international offerings. Luke.Johnson@upstreamonline.com (Luke Johnson) http://www.upstreamonline.com/live/1400389/crowley-acquires-ship-management-outfit Tue, 19 May 2015 17:39:08 +0000 live Solstad sinks into the red http://www.upstreamonline.com/live/1400370/solstad-sinks-into-the-red Solstad Offshore sank into the red in the first quarter despite marginally higher revenue as the Norwegian shipowner considers further vessel lay-ups amid a slump in activity due to industry cutbacks. Steve.Marshall@upstreamonline.com (Steve Marshall) http://www.upstreamonline.com/live/1400370/solstad-sinks-into-the-red Tue, 19 May 2015 13:35:19 +0000 live Semco seals Hanoytangen deal http://www.upstreamonline.com/live/1400367/semco-seals-hanoytangen-deal Danish contractor Semco Maritime has finally been able to complete its Nkr245 million ($30.1 million) acquisition of the rig repair and modification business of Norway’s Bergen Group after the deal had earlier been terminated. Steve.Marshall@upstreamonline.com (Steve Marshall) http://www.upstreamonline.com/live/1400367/semco-seals-hanoytangen-deal Tue, 19 May 2015 12:48:50 +0000 live Anton in Ethiopia deal http://www.upstreamonline.com/live/1400363/anton-in-ethiopia-deal Chinese contractor Anton Oilfield Services has secured a deal worth 200 million yuan ($32.2 million) to provide technical services for drilling work with in Ethiopia. Steve.Marshall@upstreamonline.com (Steve Marshall) http://www.upstreamonline.com/live/1400363/anton-in-ethiopia-deal Tue, 19 May 2015 12:08:42 +0000 live MOL hits gas in Pakistan http://www.upstreamonline.com/incoming/1400348/mol-hits-gas-in-pakistan Hungary’s MOL has made a commercial discovery at its Mardan Khel-1 exploration well on the Tal block in Pakistan. (Anamaria Deduleasa) http://www.upstreamonline.com/incoming/1400348/mol-hits-gas-in-pakistan Tue, 19 May 2015 09:50:21 +0000 ece_incoming Jura bites dust at Ismail-1 http://www.upstreamonline.com/incoming/1400343/jura-bites-dust-at-ismail-1 Jura Energy has abandoned its Ismail-1 well in the Guddu block, in Pakistan, after drilling revealed the formation to be water bearing. (Anamaria Deduleasa) http://www.upstreamonline.com/incoming/1400343/jura-bites-dust-at-ismail-1 Tue, 19 May 2015 08:33:55 +0000 ece_incoming Shell gets LPG offer in France http://www.upstreamonline.com/incoming/1400338/shell-gets-lpg-offer-in-france Shell has received a binding offer for its Butagaz liquefied petroleum gas business in France from UK oil refinery DCC Energy. (Anamaria Deduleasa) http://www.upstreamonline.com/incoming/1400338/shell-gets-lpg-offer-in-france Tue, 19 May 2015 08:02:14 +0000 ece_incoming Chariot axes AziLat Brazil farm-out deal http://www.upstreamonline.com/live/1400330/chariot-axes-azilat-brazil-farm-out-deal Chariot Oil & Gas has terminated a farm-out deal with AziLat for a stake in a quartet of offshore blocks in Brazil. Eoin.Ocinneide@upstreamonline.com (Eoin O'Cinneide) http://www.upstreamonline.com/live/1400330/chariot-axes-azilat-brazil-farm-out-deal Tue, 19 May 2015 07:03:11 +0000 live BP to farm out Ceduna stake http://www.upstreamonline.com/live/1400319/bp-to-farm-out-ceduna-stake BP will likely look to reduce the risk associated with exploring the offshore Ceduna sub-basin in the Great Australian Bight and farm down a portion of its interest in four exploration permits. Josh.Lewis@upstreamonline.com (Josh Lewis) http://www.upstreamonline.com/live/1400319/bp-to-farm-out-ceduna-stake Tue, 19 May 2015 03:23:31 +0000 live Transocean puts off jack-up delivery again http://www.upstreamonline.com/live/1400312/transocean-puts-off-jack-up-delivery-again Offshore driller Transocean has again pushed back the delivery dates for a quintet of high-specification jack-ups contracted to Keppel Fels shipyard in Singapore, this time by about a year and a half. Luke.Johnson@upstreamonline.com (Luke Johnson) http://www.upstreamonline.com/live/1400312/transocean-puts-off-jack-up-delivery-again Mon, 18 May 2015 22:59:44 +0000 live Weatherford Labs, FEI in joint agreement http://www.upstreamonline.com/live/1400300/weatherford-labs-fei-in-joint-agreement US services providers Weatherford Laboratories and FEI have agreed to combine their geological analysis tools, with the aim to improve reservoir characterization and predictability for the oil and gas industry. caroline.evans@upstreamonline.com (Caroline Evans) http://www.upstreamonline.com/live/1400300/weatherford-labs-fei-in-joint-agreement Mon, 18 May 2015 18:13:16 +0000 live Victory cancels Lucas merger http://www.upstreamonline.com/live/1400302/victory-cancels-lucas-merger A deal that would have provided a financial lifeline to cash-strapped junior Lucas Energy has been terminated after proposed merger partner Victory Energy backed out of the agreement. Luke.Johnson@upstreamonline.com (Luke Johnson) http://www.upstreamonline.com/live/1400302/victory-cancels-lucas-merger Mon, 18 May 2015 18:04:24 +0000 live Eni pens Ocean Rig drillship deals http://www.upstreamonline.com/live/1400287/eni-pens-ocean-rig-drillship-deals Ocean Rig has secured a new $91 million contract for one of its drillships off Angola, as Eni signed on for more time with another of the Greek contractor’s units. Eoin.Ocinneide@upstreamonline.com (Eoin O'Cinneide) http://www.upstreamonline.com/live/1400287/eni-pens-ocean-rig-drillship-deals Mon, 18 May 2015 16:10:31 +0000 live Rolls-Royce in job cuts http://www.upstreamonline.com/live/1400283/rolls-royce-in-job-cuts Rolls-Royce is being forced to cut 600 jobs in its marine division, with about half of the redundancies to take place in Norway, as a result of declining orders from the oil and gas industry. Steve.Marshall@upstreamonline.com (Steve Marshall) http://www.upstreamonline.com/live/1400283/rolls-royce-in-job-cuts Mon, 18 May 2015 14:33:27 +0000 live BP nabs larger West Nile Delta slice http://www.upstreamonline.com/live/1400277/bp-nabs-larger-west-nile-delta-slice BP has upped its holding in the huge West Nile Delta gas project in Egypt after partner DEA farmed down its stake. Eoin.Ocinneide@upstreamonline.com (Eoin O'Cinneide) http://www.upstreamonline.com/live/1400277/bp-nabs-larger-west-nile-delta-slice Mon, 18 May 2015 13:41:55 +0000 live Rosneft gets Brazil blocks http://www.upstreamonline.com/live/1400276/rosneft-gets-brazil-blocks Russian oil giant Rosneft is getting control of two onshore concessions in Brazil after hatching deals worth $55 million with a local player. Eoin.Ocinneide@upstreamonline.com (Eoin O'Cinneide) http://www.upstreamonline.com/live/1400276/rosneft-gets-brazil-blocks Mon, 18 May 2015 13:24:08 +0000 live TomCo’s Holliday project delayed http://www.upstreamonline.com/incoming/1400263/tomcos-holliday-project-delayed TomCo Energy has postponed oil extraction from its Holliday block in Uintah County, Utah, after its technology provider Red Leaf Resources delayed the construction of the EcoShale capsule to be used in the project by two years. (Anamaria Deduleasa) http://www.upstreamonline.com/incoming/1400263/tomcos-holliday-project-delayed Mon, 18 May 2015 12:32:46 +0000 ece_incoming Bahamas extends Southern licences http://www.upstreamonline.com/incoming/1400245/bahamas-extends-southern-licences Bahamas Petroleum has extended the term for its four Southern licences, off the Bahamas, while pulling out of a Northern licence in the area, the London-listed player said on Monday. (Anamaria Deduleasa) http://www.upstreamonline.com/incoming/1400245/bahamas-extends-southern-licences Mon, 18 May 2015 11:06:48 +0000 ece_incoming Marathon 'eyes East Africa sale' http://www.upstreamonline.com/live/1400238/marathon-eyes-east-africa-sale Marathon Oil is reported to be seeking bids for at least three onshore exploration blocks in East Africa as part of a strategic shift to focus on the domestic US onshore shale play. Steve.Marshall@upstreamonline.com (Steve Marshall), (News Wires) http://www.upstreamonline.com/live/1400238/marathon-eyes-east-africa-sale Mon, 18 May 2015 10:35:34 +0000 live JKX defers drilling on extended licence http://www.upstreamonline.com/incoming/1400219/jkx-defers-drilling-on-extended-licence JKX Oil & Gas has deferred drilling on its Elizavetovskoye production licence, onshore Ukraine despite being awarded a significant areal extension, because of current conditions in the Eastern European country. (Anamaria Deduleasa) http://www.upstreamonline.com/incoming/1400219/jkx-defers-drilling-on-extended-licence Mon, 18 May 2015 09:11:30 +0000 ece_incoming Petronas president calls for consolidation http://www.upstreamonline.com/live/1400214/petronas-president-calls-for-consolidation The president of state-run oil company Petronas has called on other Malaysian companies to explore consolidation opportunities within the domestic sector. http://www.upstreamonline.com/live/1400214/petronas-president-calls-for-consolidation Mon, 18 May 2015 08:25:51 +0000 live Profits cut for OMV http://www.upstreamonline.com/live/1400209/profits-cut-for-omv OMV saw its profit almost halved in the first quarter as it suffered from lower oil prices, as well as security challenges in Libya and Yemen that hit output. Steve.Marshall@upstreamonline.com (Steve Marshall) http://www.upstreamonline.com/live/1400209/profits-cut-for-omv Mon, 18 May 2015 08:09:40 +0000 live Contractor selected for Mozambique LNG http://www.upstreamonline.com/live/1400201/contractor-selected-for-mozambique-lng US independent Anadarko Petroleum has selected a joint venture between CB&I, Chiyoda and Saipem (CCS) as the engineering, procurement and construction contractor for the onshore portion of its Mozambique liquefied natural gas development. Josh.Lewis@upstreamonline.com (Josh Lewis) http://www.upstreamonline.com/live/1400201/contractor-selected-for-mozambique-lng Mon, 18 May 2015 07:26:50 +0000 live Sinopec pitches Puffin sale http://www.upstreamonline.com/live/1400129/sinopec-pitches-puffin-sale China’s Sinopec is looking to divest its Timor Sea assets in the Vulcan sub-basin off Australia, including its abandoned Puffin oilfield. Josh.Lewis@upstreamonline.com (Josh Lewis) http://www.upstreamonline.com/live/1400129/sinopec-pitches-puffin-sale Sun, 17 May 2015 07:39:11 +0000 live Enquest books output rise http://www.upstreamonline.com/live/1400121/enquest-books-output-rise UK operator Enquest saw output rise 20.2% in the first quarter of the year, thanks to the inclusion of production from the PM8/Seligi oilfield in Malaysia offsetting a fall in production on the UK Continental Shelf. Josh.Lewis@upstreamonline.com (Josh Lewis) http://www.upstreamonline.com/live/1400121/enquest-books-output-rise Sat, 16 May 2015 07:00:55 +0000 live Petrobras profit dips as output jumps http://www.upstreamonline.com/live/1400115/petrobras-profit-dips-as-output-jumps Brazilian state-controlled company Petrobras has reported a small decrease in net profit in the first quarter of 2015, but oil and natural gas output posted a hefty gain thanks to three new production systems that entered operations. caroline.evans@upstreamonline.com (Caroline Evans) http://www.upstreamonline.com/live/1400115/petrobras-profit-dips-as-output-jumps Fri, 15 May 2015 22:16:08 +0000 live Noble hit by Aramco rate cuts http://www.upstreamonline.com/live/1400103/noble-hit-by-aramco-rate-cuts Offshore driller Noble Corporation has agreed to cut rates for five of its jack-up rigs contracted to Saudi Aramco. caroline.evans@upstreamonline.com (Caroline Evans) http://www.upstreamonline.com/live/1400103/noble-hit-by-aramco-rate-cuts Fri, 15 May 2015 16:07:14 +0000 live Erin gains extra time in The Gambia http://www.upstreamonline.com/incoming/1400095/erin-gains-extra-time-in-the-gambia Erin Energy has received approval from the authorities to extend the exploration period for its blocks off The Gambia by 24 months. (Anamaria Deduleasa) http://www.upstreamonline.com/incoming/1400095/erin-gains-extra-time-in-the-gambia Fri, 15 May 2015 14:49:37 +0000 ece_incoming Vard wields axe amid orders slump http://www.upstreamonline.com/live/1400097/vard-wields-axe-amid-orders-slump Norwegian offshore shipbuilding group Vard is slashing costs after reporting a loss in the first quarter as it contends with an oil and gas industry slump that has left it without any fresh newbuild orders so far this year. Steve.Marshall@upstreamonline.com (Steve Marshall) http://www.upstreamonline.com/live/1400097/vard-wields-axe-amid-orders-slump Fri, 15 May 2015 14:38:42 +0000 live Sete Brasil restructuring approved http://www.upstreamonline.com/live/1400090/sete-brasil-restructuring-approved Shareholders at Sete Brasil have overwhelmingly approved a restructuring plan for the embattled Brazilian rig-building entity that may see its offshore fleet cut almost by half. Steve.Marshall@upstreamonline.com (Steve Marshall) http://www.upstreamonline.com/live/1400090/sete-brasil-restructuring-approved Fri, 15 May 2015 14:18:12 +0000 live Siem PSV to aid Med migrant crisis http://www.upstreamonline.com/incoming/1400084/siem-psv-to-aid-med-migrant-crisis Siem Offshore is set to deploy one of its platform supply vessels to assist with the migrant crisis in the Mediterranean Sea under a newly signed contract with the Norwegian government. (Anamaria Deduleasa) http://www.upstreamonline.com/incoming/1400084/siem-psv-to-aid-med-migrant-crisis Fri, 15 May 2015 10:36:31 +0000 ece_incoming Baron to carry out Peru shoot http://www.upstreamonline.com/incoming/1400070/baron-to-carry-out-peru-shoot Baron Oil has hired Houston- based Geo Survey Systems (GSS)to carry out a 2D seismic survey on block 21 onshore north-west Peru. (Anamaria Deduleasa) http://www.upstreamonline.com/incoming/1400070/baron-to-carry-out-peru-shoot Fri, 15 May 2015 08:27:14 +0000 ece_incoming Caza fails to reverse red ink flow http://www.upstreamonline.com/incoming/1400068/caza-fails-to-reverse-red-ink-flow Caza Oil & Gas slightly narrowed its loss in the first quarter despite a significant drop in revenue as higher output failed to offset lower oil and gas prices. (Anamaria Deduleasa) http://www.upstreamonline.com/incoming/1400068/caza-fails-to-reverse-red-ink-flow Fri, 15 May 2015 08:18:47 +0000 ece_incoming Dayang to acquire Perdana http://www.upstreamonline.com/incoming/1400060/dayang-to-acquire-perdana Malaysia’s Dayang Enterprise has announced a mandatory general offer (MGO) to acquire all the remaining shares of Perdana Petroleum following the acquisition of an additional 5.74% interest in the company. (Anamaria Deduleasa) http://www.upstreamonline.com/incoming/1400060/dayang-to-acquire-perdana Fri, 15 May 2015 07:14:46 +0000 ece_incoming Titan sells oilfield services unit http://www.upstreamonline.com/live/1400055/titan-sells-oilfield-services-unit Australia-listed Titan Energy Services has sold off its subsidiary Hofco Oil Field Services to an unnamed buyer for A$13.5 million (US$10.9 million). Josh.Lewis@upstreamonline.com (Josh Lewis) http://www.upstreamonline.com/live/1400055/titan-sells-oilfield-services-unit Fri, 15 May 2015 04:12:08 +0000 live Trican cuts 2000 staff, 50% of US frack fleet http://www.upstreamonline.com/live/1400037/trican-cuts-2000-staff-50-percent-of-us-frack-fleet Canadian pressure pumper Trican Well Services has laid off 2000 people, including almost 60% of its US staff in response to the oil downturn and warned that further reductions could be necessary to keep the company afloat. Noah.Brenner@nhst.no (Noah Brenner) http://www.upstreamonline.com/live/1400037/trican-cuts-2000-staff-50-percent-of-us-frack-fleet Thu, 14 May 2015 19:22:21 +0000 live BP taps former spy chief for director http://www.upstreamonline.com/live/1400027/bp-taps-former-spy-chief-for-director UK supermajor BP has named onetime Secret Intelligence Service (also known as MI6) chief John Sawers as a non-executive director of the company. caroline.evans@upstreamonline.com (Caroline Evans) http://www.upstreamonline.com/live/1400027/bp-taps-former-spy-chief-for-director Thu, 14 May 2015 17:28:32 +0000 live Cairn India in $6.6bn writedown http://www.upstreamonline.com/live/1400016/cairn-india-in-usd-66bn-writedown Vedanta Resources suffered impairments totalling $6.6 billion last year largely due to a writedown of its Indian oil and gas business as a result of lower oil prices. Steve.Marshall@upstreamonline.com (Steve Marshall) http://www.upstreamonline.com/live/1400016/cairn-india-in-usd-66bn-writedown Thu, 14 May 2015 13:48:32 +0000 live Range loses out on funding http://www.upstreamonline.com/incoming/1400012/range-loses-out-on-funding Range Resources has lost out on $60 million of funding for its activities in Trinidad & Tobago after the failure of a financing deal with Core Capital Management. (Anamaria Deduleasa) http://www.upstreamonline.com/incoming/1400012/range-loses-out-on-funding Thu, 14 May 2015 13:17:37 +0000 ece_incoming