Italian oil company Eni has completed the sidetrack well GU2-Dir A at the Guendalina gas field in the Northern Adriatic, offshore Italy. Eni is the operator with 80% interest, while Rockhopper Exploration has 20% interest in the field. To remind, Eni found more gas at the sidetrack well in its Guend
Even though early results indicated potential, Malaysian Hibiscus Petroleum, an independent oil and gas exploration and production company, has found no commercial hydrocarbons in its Sea Lion prospect, offshore Australia. According to 3D Oil Limited, a partner in the project, wireline evaluation an
Paragon Offshore, a provider of offshore drilling rigs, has expanded its loss for the third quarter of 2015 when compared to the same period last year. In addition, the company has extended the delivery date for its newbuild jack-up rig. Paragon Offshore on Monday reported a third quarter 2015 net l
Canadian oil and gas firm Husky Energy has moved a step forward towards production from its offshore gas-condensate project in Indonesia. According to the company, the jacket and the wellhead platform for the Madura Strait BD project have been installed at the offshore location in around 55 meters o
Pacific Drilling, an offshore drilling contractor, on Sunday posted a drop in its third quarter 2015 profit versus the one made a year ago, and in the previous quarter of 2015. In its 3Q 2015 report, the drilling contractor posted a net income of $41 million in the third quarter 2015, compared to ne
Lundin Petroleum, a Swedish independent oil and gas exploration and production company, has started drilling of the Selada-1 exploration well in Block PM308A, offshore Malaysia. Lundin says the well will target hydrocarbons in Miocene aged sands and is located 14 km to the south of the Bertam field
Hibiscus Petroleum has found indications of hydrocarbons at its Sea Lion prospect, offshore Australia. According to 3D Oil Limited, a partner in the project, the Sea Lion-1 exploration well has intersected the target zones and has reached a total depth of 1672 metres. The company says that current o
Hercules Offshore, a Houston-headquartered offshore drilling contractor, has completed its financial restructuring and emerged from Chapter 11 of the U.S. Bankruptcy Code. Also, funding of the company’s new $450 million senior secured credit facility has been completed. Hercules in August filed a pr
Boskalis has completed reinforcing Maersk Oil’s Dan Bravo platform in the North Sea, offshore Denmark. Dan is the oldest producing field in Denmark. The oil production started on July 4, 1972, and according to Maersk Oil, close to 28 % of total Danish oil production has been extracted from the Dan F
Baker Hughes Incorporated has posted Weekly Rig Count report on its website. According to the report, the U.S. offshore rig count fell. BHI Rig Count: U.S. -4 to 771 rigs U.S. Rig Count is down 4 rigs from last week to 771, with oil rigs down 6 to 572, and gas rigs up 2 to […]
Centrica Energy Norway, a subsidiary of the UK-based oil company Centrica, has adopted a new drilling method, for which the company says it has never been used before in the oil and gas industry. The company also claims the method reduces drilling costs. The solution was recently used on the Butch f
Baker Hughes has reported that the international offshore rig count for October 2015 has declined year over year and gone up a bit when compared to September rig count. Baker Hughes’ international rig count covers rigs from Latin America, Europe, Africa, Middle East and Asia Pacific. According to Ba
Songa Offshore, an offshore drilling contractor, has recorded a net loss of $317 million for the third quarter 2015 versus $1 million profit in the same period last year. According to the company, the drilling market is facing challenging times over the next two years. According to its 3Q 2015 repor
UK oil and gas major BP has signed a Heads of Agreement (HoA) with the Egyptian Ministry of Petroleum, regarding the acceleration of the development of the recent Atoll gas discovery in the East Nile Delta, offshore Egypt. The Atoll discovery in the North Damietta Offshore Concession was announced i
