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Month: December 2018

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Canada’s rig count plunges by more than half in two weeks

Canada’s rig count plunges by more than half in two weeks

The US drilling rig count fell 56 units 41 of which targeted oil to settle at 1,069 rigs working during the week ended Mar. 20, capping off the 15th consecutive week in declines, according to data from Baker Hughes Inc. While the U.S. continues to add oil and natural gas drilling rigs despite the recent swoon in...

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Gazprom Neft, Repsol have signed an exploration JV in Khanty-Mansi Autonomous Okrug

Gazprom Neft, Repsol have signed an exploration JV in Khanty-Mansi Autonomous Okrug

Gazprom Neft, the oil arm of Russia’s gas giant Gazprom, has said it is expanding its cooperation with Spain’s Repsol in a joint venture to undertake geological exploration in the Karabashsky zone in Russia’s Yamalo-Nenets district, Finanz.ru reports. Gazprom Neft and Repsol have established a joint venture to undertake geological exploration in the Karabashsky zone of the...

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Petrobras has produced 2.62 MMbbl of oil in Nov. 2018

Petrobras has produced 2.62 MMbbl of oil in Nov. 2018

State-run Petroleo Brasileiro SA, or Petrobras, reported that oil and natural gas production, including NGLs, was at 2.62 million barrels of oil equivalent per day in June. This was lower than the total of 2.67 MMboe/d in May. The total operated production of the company (own parcel and partners) was 3.28 MMboed, 3.15 MMboed in...

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Encana completes sale of San Juan asset

Encana completes sale of San Juan asset

Encana Corp. has officially exited the San Juan Basin, announcing Thursday that it has completed the sale of 182,000 net acres in New Mexico to Denver-based DJR Energy LLC. The transaction continues our track record of unlocking value from non-core assets, said Doug Suttles, Encana president and CEO. “Our team has done an excellent job of...

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Oil price Friday 28th of December 2018

RBOB Gasoline Physical Futures, Continuous Contract #1 (RB1) (Front Month) Historical Futures Prices: RBOB Gasoline Physical Futures, Continuous Contract #1. Non-adjusted price based on spot-month continuous contract calculations. Raw data from CME. Date Open High Low Last Change Settle Volume Previous Day Open Interest 2018-12-28 1.3243 1.3426 1.296 1.3228 0.0222 1.3262 14412 11987 Crude Oil...

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Oil retreats again after recovering from pre-holiday sell-off

Oil retreats again after recovering from pre-holiday sell-off

Oil prices fell on Friday, dropping from highs last seen in 2015, as soaring U.S. production undermined a 10 percent rally from December lows that was driven by tightening supply and political tensions in OPEC member Iran. Rising U.S. output and weaker refined products demand weighed on the market, traders said. “The holiday demand surge...

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Oil price Thursday 27th of December 2018

RBOB Gasoline Physical Futures, Continuous Contract #1 (RB1) (Front Month) Historical Futures Prices: RBOB Gasoline Physical Futures, Continuous Contract #1. Non-adjusted price based on spot-month continuous contract calculations. Raw data from CME. Date Open High Low Last Change Settle Volume Previous Day Open Interest 2018-12-27 1.3419 1.3419 1.2858 1.32 0.0264 1.304 22544 20741 Crude Oil...

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Oil sands rebound in 2019 hinges on rail, output cuts, pipeline

Oil sands rebound in 2019 hinges on rail, output cuts, pipeline

Canada’s oil industry is expected to be back in the black this year thanks to higher oil prices and more production after registering three years of losses. The Canadian oil industry could be in for another turbulent year in 2019, depending on how some pivotal events pan out. But the Conference Board of Canada says...

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Faroe Petroleum reports Cassidy exploration well results

Faroe Petroleum reports Cassidy exploration well results

Faroe Petroleum has failed to find hydrocarbons in the primary target of its Rungne exploration well in the North Sea offshore Norway. No hydrocarbon contact was encountered within the Ness formation. The company on Wednesday said the Rungne exploration well encountered a 56 meter gross (17-meter net) gas/condensate column in good quality interbedded Middle Jurassic Ness...

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Halliburton secures drilling contract from Eni Iraq

Halliburton secures drilling contract from Eni Iraq

Halliburton Co said it had tapped BlackRock Inc for $500 million to help fund drilling in existing shale wells, the first such move by a major oilfield services provider at a time when oil producers are shying away from drilling new wells. The world’s No.2 oilfield services provider, which is buying No.3 Baker Hughes Inc...

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