Cabot Oil and Gas Corp reported a surge in third-quarter profit on Friday, helped by higher realized natural gas prices and a gain from asset sales.The company's net income rose to $122.3 million, or 28 cents per share, for the third quarter ended Sept…
Blackstone Energy Partners announced today that it has entered into binding agreements to acquire a controlling, majority interest in Ulterra Drilling Technologies from affiliates of American Securities LLC. American Securities and certain…
Venture Global LNG announced that the U.S. Federal Energy Regulatory Commission (FERC) has issued the final Environmental Impact Statement (EIS) for the company’s 10 MTPA Calcasieu Pass facility on the Gulf of Mexico.On August 31, 2018, FERC…
U.S. drillers added oil rigs for a second week in a row this week, raising the rig count to the highest level since March 2015.Drillers added four oil rigs in the week to Oct. 19, bringing the total count to 873, General Electric Co's Baker…
Schlumberger NV Chief Executive Officer Paal Kibsgaard said on Friday that growth in the Permian basin could be lower than anticipated, and that pricing and demand for oilfield services in North America will remain soft in the fourth quarter…
Dutch offshore and dredging services specialist Van Oord has been awarded the contract to carry out offshore installation works for the West White Rose Project of the east coast of Newfoundland, Canada.The project will give Canadian oil company…
Natural gas abounds in North America. At the end of 2016, Canada and the U.S. shared 414 trillion cubic feet of proved reserves, with the U.S. the world’s largest producer and Canada the fourth largest. Unsurprisingly, there’s a keen appetite for developing LNG facilities across the continent…
Interior Secretary Ryan Zinke has hinted to at least six coastal states that he will keep their waters out of a looming plan to expand U.S. offshore drilling, telling some they lack enough oil to be included anyway, according to state officials and transcripts from public hearings…
Battered oil and gas drilling companies are finally seeing piecemeal signs that the prices they charge for offshore rigs are bottoming out with Brent crude selling for more than $80 a barrel and some are forecasting a full turn in the market by 2020…
U.S. Gulf of Mexico producers have cut oil output by 32 percent and natural gas production by 13 percent as a result of the lingering effects of Hurricane Michael, the Bureau of Safety and Environmental Enforcement (BSEE) said on Friday, citing reports from 27 companies…
The U.S. oil drilling rig count rose this week for the first time in four weeks even as crude prices tumbled to their lowest in almost three weeks.Drillers added eight oil rigs in the week to Oct. 12, bringing the total count to 869, General…
Brazil's state-controlled oil company Petroleo Brasileiro SA is forming a joint venture with Murphy Oil Company to explore oil and gas fields in the Gulf of Mexico, the Brazilian company said on Wednesday in a securities filing.According to the filing…
Texas-based offshore drilling contractor Rowan Companies announced that it has concluded the sale of two LeTourneau TARZAN Class jack-up rigs, the Scooter Yeargain and the Hank Boswell, to ARO Drilling.The net economic impact of this transaction…
Mexico plans to enforce fines imposed on Odebrecht over corruption allegations by confiscating some $30 million owed by state oil company Pemex to the Brazilian firm, a top official at the public administration ministry said.Christian Ramirez…
Nearly 40 percent of daily crude oil production was lost from offshore U.S. Gulf of Mexico wells on Tuesday due to platform evacuations and shut-ins ahead of Hurricane Michael.Since Monday, oil producers, including Anadarko Petroleum Corp, BHP Billiton…
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