Exploration & Production - News
London-based Highlands Natural Resources has successfully drilled and set surface casing in two east Denver Niobrara wells, the company said on Aug. 18.
Sacgasco Ltd., a Sacramento Basin-focused natural gas developer and producer, said that the field appraisal drilling component of the company’s Dempsey 1-15 well in California has been successfully completed on Aug.21.
Attracting foreign investment for Iran’s oil sector will continue to be a top priority during President Hassan Rouhani’s second term, Iranian Oil Minister Bijan Zanganeh said on Aug. 20.
Drillers cut five oil rigs this week, bringing the total count down to 763, Baker Hughes, a GE company (NYSE: BHGE), said in its report on Aug. 18.
Investors worry a slowdown in sand use, combined with new mining capacity coming online, could lead to a glut of the material and bring down prices. The worries have pressured shares of sand companies.
Even as the rig count climbs, which has been steadily rising in the Bakken, North Dakota's oil industry has been fracking fewer wells due to a labor shortage.
Shale production in the largest U.S. oil field should rise by as much as 300,000 bbl/d by December, according to updated forecasts following the industry’s latest quarterly results.
A statement on the compliance-boosting effort is being drafted and will probably be issued after the meeting concludes on Aug. 8, two sources said.
Benchmark Brent crude was unchanged at $52.37 a barrel by 1215 GMT. U.S. light crude was 5 cents higher at $49.44.
Doubts have since swirled around the effectiveness of the cuts, as OPEC output hit a 2017 high in July and its exports hit a record.
Rick George, who served as CEO of Suncor Energy Inc. from 1991 to 2012, died on Aug. 2 after a year-and-a-half long battle against acute myeloid leukemia. He was 67.
Russia's oil output stood at 10.95 million barrels per day in July, unchanged for a third month and in line with its pledge to curb production in an effort to support the price of crude oil.