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Chevron and BP report an oil discovery in one of the deepest regions the industry has taken on in the Gulf of Mexico.
New Mexico law requires that oil and gas companies pay interest on royalties held in suspense beyond six months. NMSA 1978, §§ 70-10-1 to -6 (1985, as amended through 1991). The New Mexico Supreme Court in First Baptist Church of Roswell v. Yates Petroleum Corp., No. 33,632, 2014 N.M. LEXIS 308 (N.M. September 15, 2014) addressed whether royalty owners and oil and gas companies may contract around or waive the statutory interest by executing division orders. The dispute in Yates Petroleum Corp. arose from the failure of the Defendant, Yates Petroleum Company (“Yates”) to pay interest on ro
Sen. Ron Wyden wants the United States to rethink the size and scope of its emergency oil stockpile.
Then, the hottest ticket in town - the @BreitlingEnergy Dallas Cowboys Tailgating Party in Arlington
In case you’ve been living under a rock the past few months, oil prices have tumbled by roughly 27 percent and are now hovering around $80 a barrel. While many weary consumers are thrilled about the relief they’re feeling at the pumps and the national retail price of gasoline dropping by an average of 50 cents in the U.S., many oil traders, producers and economists are stressing over the depressed price of crude.Despite the rather ominous projections several analysts have made in response to the falling global oil prices, many industry proponents maintain a more optimistic outlook about the p
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A fire broke out Sunday at the UK’s 1,400 MW Didcot B gas-fired power station, in the latest of a series of unexpected problems that have considerably tightened the margin of spare supply available to the country’s electricity market this winter.Damage to the cooling towers has resulted in the shutdown of 50% of the station’s output, removing some 700 MW from the grid.Coal-fired units at the Ironbridge and Ferrybridge power plants were already shut after their own fires in February and July. And EDF Energy has closed units at its Heysham and Hartlepool nuclear facilities to
The Sugar Land-based company with investment from energy giants Total and Chesapeake is facing a federal lawsuit alleging that it's infringing on a rival firm's patents.
EU leaders are meeting today and tomorrow in Brussels with the objective of reaching an agreement on the outlines of the 2030 EU Climate and Energy Policy.One of the topics this plan will address is that of energy security, viewed within the context of the European economy and the bloc's exploration of alternative sources of energy in the wake of Russia's Crimean activities, which have called into question the prudence of maintaining Europe's dependence on Russian natural gas. Last month, Guenther Oettinger, the EU's commissioner for energy, warned that Russia could cut natural gas supplies t
On behalf of the Tangguh Partners, BP has announced that two consortia have been awarded the onshore Front End Engineering and Design (FEED) for the USD 12bn Tangguh Expansion Project (Train 3)
The Environmental Defense Fund says some major oil companies are taking steps to reduce leaks of the greenhouse gas methane, the main component of natural gas, but that hundreds of smaller companies aren't.
While people are enjoying low gas prices, North America drillers find it more difficult to stay profitable in comparison to their Middle East counterparts. There are a lot of discussions on break-even price ($60 has been mentioned by WSJ for U.S. oil production in the Eagle Ford, Bakken, and Permian); however, not much on what can be done to reduce the cost per produced barrel has been printed.What makes North America operations expensive is horizontal drilling and hydraulic fracturing. Sinking profits could be a good trigger to reconsider the drilling and completion “basis of design” and loo
With crude oil prices nose diving in recent months, unsettling fears of idled rigs and plummeting profits have begun creeping through companies and countries whose livelihoods are tied to oil production. But officials in some of Texas’ booming towns aren’t breaking a sweat just yet. “The smart guys will figure that out,” jokes Don Tymrak, city […]The post Oil Price Tremors Not Rattling Texas. Yet. (Texastribune.org) appeared first on Breitling Energy Corporation.
With a Bachelor's of Science degree, but no current work experience in the oil a gas industry, what is the best way to break in to this field? It is my goal to eventually get in to a sales position however, I know you must "pay your dues" first. Any suggestions on what companies or positions I should look for?
Tullow Oil has announced the results of a series of recent exploration and appraisal activities conducted in Blocks 10BB and 13T onshore Kenya
ExxonMobil's CEO on Thursday dashed Houston's hopes that the multinational oil and gas giant would relocate its headquarters to Houston, saying he plans to continue to honor the company's foundational principals to keep separate its executive suites from its operations.
Busy weekend at @BreitlingEnergy. First, the always-fun Cowtown Chili Cook-off benefitting the Boys and Girls Club of Ft Worth
Hello OilPros! Quick question for all operators, production sups, oil purchasers, and production engineers:Is there a hard-fast rule for the times of a typical "production day"? For example, most industries calculate their cumulative daily production/output/widgets starting at 12:00AM and ending at 11:59AM same day...Obviously, in the oilfield, there's a lot of managers etc who expect to have their reports on their desk by XAM (7AM, 8AM, 9AM).Is the Industry Standard "Typical Oil Day" written anywhere? Does Sunoco, Enterprise, or Plains calculate total oil hauled from 12am-11:59PM, or do they
Bubble, bubble oil and trouble: it seems as though an attempt has been made to drown out the results of our Q3 U.S. OCTG Inventory Yard Survey and October Report by the dreaded sound of hydrocarbon prices dropping. We’ll address this situation in the next couple paragraphs; for now we’re seeking asylum in some better news on the inventory front.Lest you think it’s all “doom and gloom” in the oil patch, the results of our Q3 inventory survey should take some bite out of the headlines of the day. A bit of background: oil & gas leaders worldwide count on our exclusive survey to get a good re
The collapse of an offshore platform in the Caspian Sea in Azerbaijan during repair works resulted in three worker deaths and one missing person, Azerbaijan's state energy company SOCAR said on Thursday. A small wagon-house also fell into the sea as a result of the incident, damaging and igniting a fire on a pipeline utilized for domestic gas deliveries, Reuters reported. The fire was quickly extinguished within an hour. Reuters reported that 41 workers were on site. A rescue team supervised the evacuation of 37 of them, while four fell into the sea.SOCAR said in a statement quoted by Reuters
I am doing some research on the use of guar in crosslinking. I understand that crosslinking is related to gels and viscosity, but I'm having trouble finding a good layman's definition for this term. Can any explain this in non-technical terms? Thanks in advance.
Dallas, Texas – The Eagle Ford shale formation sprawls across more than 15 south Texas counties and with 269 working drilling rigs, it currently supports 155,000 jobs and contributed $87 Billion to the Texas economy in 2013, according to a comprehensive report released in September by the University of Texas San Antonio.  Projections, according to […]The post Breitling Energy’s CEO Addressing Prestigious Houston Condensate Convention appeared first on Breitling Energy Corporation.
Chariot Oil & Gas has opted not to apply for a new exploration licence in the Northern Blocks 1811A and B, offshore Namibia, with the current licence due to lapse on the 26 October 2014
Fourteen of the nation's largest independent oil companies are banding together to lobby for the right to export crude around the world. It's a sign the industry is revving up for a big, coordinated push to dismantle those trade restrictions next year.
Three workers were killed and one is still missing after an accident at one of the offshore oil and gas platforms in the Caspian Sea, SOCAR says.
Brent crude oil jumps nearly 3%, its most in over four months, after an industry source says Saudi Arabia cut output in September following the summer's tumble in prices.
Keeping A Close Eye On The US SenateMost polling models show the Republicans narrowly gaining control of the US Senate in the upcoming November 4 midterm elections. Projections of how likely Republicans are to take over the upper chamber range from 62% (FiveThirtyEight) to 93% (Washington Post).Most of these forecasts have Republicans winning seven seats for a 52-48 advantage.Democrats are going into November 4 with a 55-45 advantage. Thus the GOP needs a net gain of six seats to win a majority. Unfortunately for the Democrats, they have to defend 21 of the 36 seats in play this year. Making
Earnings season is in full swing, and some professionals just can't be on every call. So, get Live Updates from industry conference calls and events here, on your Oilpro feed! The new homepage updates in real time throughout the day, making these live updates one of many great reasons to keep your Oilpro homepage (and your Oilpro feed) open on your desktop throughout the day. As part of the Oilpro interface's recent quantum leap, we introduced a new content type: 280-character text updates. This micro-blogging tool has many uses and can be thought of similar to posts on Twitter. You can po
Platts Energy Week TV, teaser for week of Oct. 26, 2014Tune in to the October 26 episode of Platts Energy Week, when we talk to a former PHMSA administrator about the challenges of moving oil and natural gas by rail and pipeline. We also speak...From:Platts McGraw HillViews:1 0ratingsTime:00:30More inNews & Politics
This is a busy time of year, and between conferences and of big news events, we’ve been running in several directions at once here at The Barrel. That’s part of the reason why we’re just now getting to your comments about the October version of The Oil Big Five, when we got our analysts and editors to share their biggest issues in the global oil industry.Today, though, we want to highlight some of your comments. Remember you can always tell us your thoughts through a comment here on the blog, or on Twitter with the hashtag #oilbig5.One of our topics was about Brent demand and prices. On Twitt
Fluor Corporation, in a joint venture with Technip, was awarded an engineering, procurement and construction management contract by PRPC Utilities and Facilities for the Petronas’ Refinery and Petrochemical Integrated Development (RAPID) project located in Pengerang, Johor, Malaysia
To Nelson Bunker Hunt, the world was full of enemies.
Asia will be the main driver of global demand growth for liquefied natural gas, lifted by expectations of higher gas consumption in China.
Occidental Petroleum posts a better-than-expected quarterly profit as US oil production jumps.
Investing.com presented the following headline on 10/23/2014: "Oil surges more than $1 after Saudi production cut news". This headline was interpreting the report that Saudi output had declined in September versus August. In the simplistic, knee-jerk style of the futures traders, the conclusion was reached that this was a price-defending action by Saudi Arabia. Were this to be the fact, that action would hold great significance, indeed.When one applies a modicum of understanding regarding the relationship between demand and production, along with the knowledge that Saudi Arabia is the swing p
Chevron Corporation has announced a new oil discovery at the Guadalupe prospect in the deepwater US Gulf of Mexico
Drillinginfo’s process for creating directional drilling surveys was detailed in Directional Drilling Surveys from Paper to the Web. Since it’s such a long, winding path to take directional drilling surveys from paper reports to the interactive map application on DrillingInfo’s Read MoreThe post True North – Getting Our Bearings Straight When Mapping Directional Drilling Surveys appeared first on Drillinginfo.
Poland says that EU's proposed pace for increasing reliance on renewable energy sources is too fast for Eastern European countries that are trying to grow their economies as they restructure old, energy-dependent industries.
Mozambique opens up 15 new areas for exploration and production, a week after national elections which are expected to return the ruling Frelimo party to power.
Chevron finds significant oil pay in Paleogene age Wilcox sands at the Guadalupe prospect in the deepwater US Gulf of Mexico.
Husky reports an 11.5% rise in quarterly profit, helped by a 10% increase in production.
BP and Chevron said Thursday that the they have "encountered significant oil pay" in the deepwater GOM's Guadalupe prospect.The discovery well, in the Keathley Canyon Block 10, situated approximately 180 miles from the Louisiana coast, made the discovery. However, the majors did not offer an estimate on how much oil is contained in the formation. Chevron commenced drilling the well in June. Chevron operates the Guadalupe prospect, holding a 42.5% stake. BP also holds a 42.5% stake. Venari Resources owns a 15% stake. The companies said in a statement, "More tests are being conducted on the wel
10/13/2014 To 10/17/2014
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KBR has been awarded a three-year master services agreement (MSA) with Statoil Petroleum to provide engineering and procurement services for Statoil on a global scale
The October 22 edition of the New York Times ran an article, Nation’s Confidence Ebbs at a Steady Drip, that focused on the public’s loss of confidence in the Federal Government, the President, and Congress. The article pointed out that the President began his presidency committed to restoring public confidence that had been severely damaged […]
Shell’s discovery this week of a gas column off the coast of Gabon could prove to be a rich reward for their continued investment in the region. Shell began work in Gabon in the early 1960s, and this latest deep water find offers fresh opportunities not only for the company but for the country.With a per capita income four times higher than most of its sub-Saharan neighbours, Gabon has already made gains from its natural resources. Oil revenue makes up half of the country’s gross domestic product and over three quarters of its exports. As the third largest producer and exporter of crude in su
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Occidental Petroluem said domestic oil production costs rose in the third quarter.
Chariot Oil & Gas deems exploration in the northern blocks offshore Namibia too high risk to justify further spending on a new license.
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A playmate and blanket; all in one! The Thirty-One Blanket Buddy is every child's ideal pal. Bring the plushed teddy bear as a buddy and partner for adventures. And when naptime rolls around, kids have have a stuffed animal with blanket for comfort and snuggling. This blanket with a stuffed animal may be easily stored inside the bear by a zipper enclosure. Plush teddy bear Zipper enclosure Entire blanket fits easily inside stuffed animal Blanket dimensions: 34" x 34" Bear dimensions: 17.25" x 8" Ages 3 and up URL : http://www.orangeonions.com/thirty-one-blanket-buddy-grey.html M
U.S. energy-related carbon dioxide emissions (CO2) have declined in five of the past eight years. This trend has been led by emissions reductions in the electric power sector. Electricity demand growth has been lower than in the past and at the same time the power sector has become less carbon intensive (measured as CO2 emitted per kilowatthour of generation). Total emissions from the electric power sector in 2013 totaled 2,053 million metric tons (MMmt), about 15% below their 2005 level.
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