Drilling

Oil

German firm buys shares in North Sea oil, gas

BERLIN (AP) — Germany's Wintershall says it is buying shares in North Sea oil and gas fields from Norwegian company Statoil for $1.25 billion.

Wintershall, a subsidiary of BASF SE, said Friday that the transaction is expected to close by the end of the year. The deal includes shares in two production fields, a pipeline project and four exploration licenses.

Oil

CNOOC opens 2014 bidding on offshore leases in China

Source: 
Platts

China National Offshore Oil Corporation has opened bidding on 33 blocks of offshore leases totalling more than 48,000 square miles, stretching from Qingdao in the north to an area off Hainan Island in the South China Sea, Platts reports.

Oil

Statoil working to use oilfield gas instead of flaring it

Source: 
FuelFix

Norwegian company Statoil is expanding a pilot program in the Bakken Shale, where it captures natural gas that is a byproduct of oil drilling, and uses some of it to power oilfield equipment like drilling rigs instead of burning it off, FuelFix reports.

Oil

Oil sands producers to cut environmental impacts

Source: 
The Wall Street Journal

Members of Canada’s Oil Sands Innovation Alliance, which includes some of the world’s big oil companies, will take voluntary steps to reduce the environmental impact of their operations, Cosia’s chief said Tuesday, The Wall Street Journal reports.

Oil

US rig count up 11 to 1,925

HOUSTON (AP) — The number of rigs exploring for oil and natural gas in the U.S. increased by 11 this week to 1,925, oilfield services company Baker Hughes Inc. said Friday.

The Houston firm said in its weekly report that 1,584 rigs were exploring for oil and 340 for gas. One was listed as miscellaneous. A year ago there were 1,767 active rigs.

Oil

US rig count up 18 to 1,914

HOUSTON (AP) — The number of rigs exploring for oil and natural gas in the U.S. increased by 18 last week to 1,914, oilfield services company Baker Hughes Inc. said.

The Houston firm said Friday in its weekly report that 1,575 rigs were exploring for oil and 338 for gas. One was listed as miscellaneous. A year ago there were 1,776 active rigs.

Oil

Independent Scotland would continue energy policy: Minister

Source: 
The Wall Street Journal

North Sea oil policy would remain the same if Scotland became independent in the wake of September’s referendum, Scotland’s energy minister said, although oil companies have expressed skepticism, The Wall Street Journal reports.

Oil

Argentina, Malaysia in deal to develop oil field

BUENOS AIRES, Argentina (AP) — State-run Argentine oil company YPF SA said Thursday it has reached a deal with Malaysia's Petronas to develop what is believed to be massive deposits of shale oil and gas in the vast Vaca Muerta formation in Patagonia.

YPF said the Malaysian state-owned oil company will provide $475 million of an initial investment totaling $550 million for a pilot phase scheduled to start early next year.

Feds to resume leasing for fracking in California

SAN FRANCISCO (AP) — The U.S. Bureau of Land Management will resume issuing oil and gas leases next year for federal lands in California after a new study found limited environmental impacts from fracking and other enhanced drilling techniques, the agency said Thursday.

The move will end a halt that has stood since a federal judge ruled in 2013 that the federal agency failed to follow environmental law in allowing an oil extraction method known as fracking on public land in Monterey County.

Oil

Shell files revised Arctic offshore drilling plan

ANCHORAGE, Alaska (AP) — Royal Dutch Shell PLC has filed a revised Arctic offshore drilling plan with federal regulators but says the company hasn't decided whether to return to waters off the coast of northwest Alaska in 2015.

The revised exploration plan submitted to the Bureau of Ocean Energy Management in Anchorage calls for two drilling vessels to operate simultaneously in the Chukchi Sea rather than one in the Chukchi and one in the Beaufort Sea off Alaska's north Coast.

The presence of two vessels is required so one can drill a relief well in the event of damage from a blowout.

Pages

Subscribe to Drilling