Fossil Energy
Hess’ CEO promises annual output growth of 5 – 8%
Hess Corporation today reported net income of $931 million for the quarter ended June 30, 2014. Adjusted net income, which excludes items affecting comparability, was $432 million or $1.38 per common share, compared with $520 million or $1.51 per share in the prior year quarter. The company said t
Tullow withdraws from Sierra Leone, Liberia and Mozambique blocks
Oil and gas exploration company Tullow today in its half yearly report said it would not be renewing licences for offshore blocks in Sierra Leone, Liberia and Mozambique. Tullow said that after evaluating potential options in Liberia and Sierra Leone, it eventually decided against renewing its licen
Total’s profit, production drop
French oil company Total today reported its adjusted net income for the second quarter of 2014 fell 12% compared to the corresponding period of 2013. The company recorded income of ∼$3.2 billion versus ∼$3.6 billion a year ago. Commenting on the results, Chairman and CEO Christophe de Margerie said:
ConocoPhillips completes Nigeria business sale
ConocoPhillips has announced it has completed the transaction with Oando Energy Resources (OER), a subsidiary of Oando PLC, for the sale of its Nigeria upstream business for a total sales price, after customary adjustments, of $1.5 billion. The sales price is inclusive of $550 million of deposits re
Dril-Quip 2Q net income rises to $51.3M
Dril-Quip, Inc. today announced net income of $51.3 million, or $1.27 per diluted share for the three months ended June 30, 2014, versus net income of $42.9 million, or $1.05 per diluted share for the second quarter of 2013. Total revenues were $230.3 million during the quarter ended June 30, 2014 c
Rigmar grows presence in Port of Cromarty Firth (UK)
Following substantial success and a number of significant contract wins, Rigmar has signed a five-year lease agreement with Port of Cromarty Firth as part of their multi-million pound expansion plan.
COSCO delivers jack-up to ICBC
China’s COSCO Nantong shipyard has delivered a jack-up rig to its Asian buyer.
Dolphin takes delivery of seismic guard ‘7-Oceans’
Dolphin Geophysical has attended the naming ceremony of the 7-Oceans new build seismic guard vessel in Maaskant Shipyard, Holland, on the 25th July. This is the first of three new build seismic guard vessel Dolphin will take on long term charter (4 years +) with Rederij Groen. The 7-Oceans will join
ConocoPhillips extends Ekofisk contract with Archer
Archer Limited announces that ConocoPhillips has exercised an option to extend its contract with Archer AS for the provision of Platform Drilling services for the Greater Ekofisk Area. The Platform Drilling contract was originally signed in early 2010 and previously would have expired June 2015. The
BGP wraps up seismic shoot off Gabon
BGP Inc. has announced that BGP Pioneer has completed Perenco Oil & Gas Gabon 3D seismic acquisition project of approximately 1500 sq. km offshore Gabon. The project included undershoot operations between platforms, and was run in water depth varying between 55 to 15 meters of water depth. Overall,
IWCF to launch well control awareness course
The International Well Control Forum (IWCF) is gearing up to launch a new online awareness course focussing on the life cycle of a well, with particular emphasis on well control. It is aimed at everyone working in the oil and gas industry and those planning on entering the sector. The free e-learnin
Rosneft, PDVSA ink offshore projects deals
Rosneft President and Chairman of the Management Board Igor Sechin and Venezuelan Minister of Petroleum and Mining and PDVSA President Rafael Ramirez signed a Cooperation Agreement to implement offshore projects in Rio-Caribe and Mejillones blocks (Phase II of the Mariscal Sucre Project). As part of
EU to ban export of oil exploration technology to Russia
The European Union Council’s Committee of Permanent Representatives (Coreper) yesterday reached agreement on EU restrictive measures in view of Russia’s actions destabilising the situation in eastern Ukraine. In order to restrict Russia’s access to EU capital markets, EU nationals and companies may
BP’s Iain Conn to become Centrica CEO
Centrica plc has appointed Iain Conn as Chief Executive with effect from 1 January 2015, at which point he will join the Centrica plc Board. Conn will succeed Sam Laidlaw who will retire from the Board on 31 December 2014. Conn will join from BP plc where he has been Chief Executive, Downstream, BP’