Drilling

Oil

Corruption investigation hitting Chinese oil operations in Canada

Source: 
The Wall Street Journal

Two top Chinese officials who’d been prominent in the operations of China National Petroleum Corp. in Canada have departed, calling into question the future of a billion dollar oil sands project, The Wall Street Journal reports.

Oil

Britain reopens way for fracking

LONDON (AP) — The British government has reopened the way for energy firms to explore for shale gas, three years after seismic tremors led to the suspension of fracking.

Business and Energy Minister Matthew Hancock says shale gas has the potential to improve energy security but stresses national parks will be protected.

Oil

Seeking stability, majors drilling more in richer countries

Source: 
The Wall Street Journal

With violence and instability plaguing operations in less developed countries, the major oil companies are spending a greater percentage of their exploration and production budget in OECD nations where there is less risk to their returns, The Wall Street Journal reports.

Oil

US rig count up 12 to 1,883

HOUSTON (AP) — Oilfield services company Baker Hughes Inc. says the number of rigs exploring for oil and natural gas in the U.S. rose 12 this week to 1,883.

The Houston firm said Friday in its weekly report that 1,562 rigs were exploring for oil and 318 for gas. Three were listed as miscellaneous. A year ago there were 1,776 active rigs.

Oil

Higher oil prices drive Texas production hike: Report

Source: 
FuelFix

Instead of an expected slowdown, Texas 2013 oil production increased to a level near the record set in 1972, pushed by higher oil prices that climbed on international unrest, according to an industry analysis, FuelFix reports.

Oil

Repsol looking to pick up Talisman assets

Source: 
The Wall Street Journal

Canada’s Talisman Energy has confirmed that it’s in talks to sell some of its assets to Spain’s Repsol, which analysts speculate may include interests in Marcellus Shale and Eagle Ford Shale, The Wall Street Journal reports.

Oil

Freeport to focus on deep water in Gulf of Mexico

Source: 
Bloomberg

Freeport-McMoRan Inc. considers its best prospects for growth to be in deep water oil and gas fields in the Gulf of Mexico, vice chairman Jim Flores said Wednesday, adding that the company will likely sell off up to $5 billion worth of land-based assets to help pay for it, Bloomberg reports.

Oil

Americans back more oil production, offshore drilling: API poll

Source: 
FuelFix

A Harris poll conducted for the American Petroleum Institute found 68 percent of those surveyed support offshore drilling, and Americans likewise back an increase in oil and gas production, FuelFix reports.

Oil

Exxon-Rosneft drilling rig enroute to Kara Sea

Source: 
The New York Times

A joint venture between Exxon Mobil and state-owned oil company Rosneft to look for oil off the coast of European Russia appears to be going ahead as planned despite the downing of a Malaysia Airlines plane in Ukraine, The New York Times reports.

Oil

Hedge fund Jana pressuring Apache to ditch international operations

Source: 
The Wall Street Journal

Apache should stick to drilling in the U.S. and sell off its international operations, as it’s lagging behind companies that operate exclusively in American shale, according to a letter sent Monday by activist investor and hedge fund Jana Partners LLC, which owns at least a billion dollar stake in the company, The Wall Street Journal reports.

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