Fossil Energy
Ensco: Earnings decline due to lower fleet utilization
Ensco plc reported that diluted earnings per share were $1.25 in first quarter 2014 compared to $1.36 in first quarter 2013. Adjusted for $13 million, $0.06 per share, of certain discrete tax items, first quarter 2014 diluted earnings per share were $1.31. Chairman, President and Chief Executive Off
Plexus nets POS-GRIP supply order from Centrica
Plexus Holdings PLC announces that it has secured a new well order to supply its POS-GRIP surface exploration wellhead equipment and services under an existing contract with leading oil and gas company Centrica Energy Norway. The value of the order is estimated at approximately £900,000 with revenue
ROC, Horizon to merge and create a ‘leading Asian E&P company’
Roc Oil Company Limited (ROC) and Horizon Oil Limited (Horizon) today announced that they have entered into a Merger Implementation Deed (MID) under which they have agreed to merge via a Horizon Scheme of Arrangement (the Merger). In its press release ROC has said that the transaction will bring tog
AWE: Pateke-4H drilling moves forward, New Zealand
AWE Limited reports that as at 06:00 hours (6.00am NZDT) today the Pateke-4H development well, offshore New Zealand, was at a measured depth of 4,700m and drilling ahead on a horizontal trajectory through the Kapuni F10 sandstone reservoir with an 8 1/2 inch drilling assembly. The reservoir was inte
BP CEO: A very solid start to 2014
BP today announced its financial results for the first quarter of 2014. Underlying replacement cost profit for the quarter was $3.2 billion, compared with $2.8 billion for the previous quarter and $4.2 billion for the first quarter of 2013. Operating cash flow in the quarter was $8.2 billion. The
Atlantic Petroleum buys into Norwegian Sea licence
P/F Atlantic Petroleum has decided to acquire 15% participating interest in PL528/PL528B licences in the Norwegian Sea from Rocksource ASA.
Chariot completes seismic survey in Morocco
Chariot Oil & Gas Limited, the Atlantic margins focused oil and gas exploration company, has completed 1,700km2 3D seismic survey across its areas of interest offshore Morocco (Chariot 75% (Operator), ONHYM 25% (carried interest). The survey, encompassing ~1,075km2 in Rabat Deep, ~250km2 in Loukos O
Statoil earnings up. Production down 1%
Statoil’s first quarter 2014 net operating income was NOK 51.4 billion, a 35% increase compared to the first quarter of 2013. Adjusted earnings were up 9% to NOK 46.0 billion. “We are pleased to present strong financial results for the quarter. Higher prices and good results from our US gas value ch
Stone Energy discovers oil at Cardona South well in Gulf of Mexico
Stone Energy Corporation today announced success on the deep water Cardona South well at Mississippi Canyon 29. Stone operates and owns a 65% working interest in the well. The Cardona South well (MC 29 #5 well) encountered over 275 feet of net oil pay in three separate sections of the well. The Card
GE, PEMEX, IMP pen technology cooperation pact
GE Oil & Gas, Mexico’s state-owned oil and gas company Petróleos Mexicanos (PEMEX), and the Mexico Institute of Petroleum (IMP), have signed a technology collaboration agreement focused on the oil and gas sector, with the sponsorship of PEMEX. The agreement, which was signed on April 8, will initial
Climb aboard, explore Bristow’s new helicopter at OTC 2014
Bristow Group, which operates the largest fleet of commercial helicopters in the world for offshore transport to oil and gas platforms, will appear for the first time at the Offshore Technology Conference (OTC) 2014. Visitors to Bristow’s air-conditioned booth #917 will have a first-time glimpse of
Malaysian milestone for McDermott
A subsidiary of McDermott International, Inc. has become the first to install rigid reel-lay pipe-in-pipe in Asia-Pacific for the Siakap North-Petai (“SNP”) development project offshore Malaysia. At more than 3,900 feet (1,190 meters), the SNP development is one of the industry’s most challenging de
Vard: High order intake in 1Q 2014
Vard Holdings Limited, a designer and shipbuilder of offshore and specialised vessels, today announced its financial results for the first quarter ended 31 March 2014 highlighting ‘exceptionally high’ order intake. The revenues for the first quarter 2014 were NOK 2.67 billion, down 2.7% from NOK 2.7
BSEE conducts unannounced oil spill response drill with OXY
The U.S. Bureau of Safety and Environmental Enforcement (BSEE) last week participated in a day-long Government Initiated Unannounced Exercise involving Occidental Petroleum Corporation (OXY). The table top exercise, held in Huntington Beach, Calif., tested OXY’s ability to respond to a simulated spi