Fossil Energy
Tangiers: Directors Resign Due to Loss of Shareholders’ Support
Tangiers Petroleum Limited advises that Eve Howell and Max de Vietri have resigned respectively as Executive Chairman and Non-executive Director, effective immediately, citing the loss of support of several major shareholders. Executive Director Brent Villemarette today thanked both directors for th
Masirah Strikes Oil Offshore Oman
Masirah Oil Limited has discovered oil in Block 50, offshore Oman. Masirah Oil Limited today announced the successful reach of the well target depth in the second exploration well in Block 50 Oman to its final depth of >3,000 metres into the Cambrian formation. Hydrocarbons were discovered in severa
Anadarko Swings to 4Q Loss on Legal Dispute Costs
Anadarko Petroleum Corporation today announced 2013 fourth-quarter results, reporting a net loss attributable to common stockholders of $770 million, or $1.53 per share (diluted). These results include certain items typically excluded by the investment community in published estimates. In total, the
New Zealand’s EPA Studies U.S. BSEE’s Operations and Practices
Bureau of Safety and Environmental Enforcement’s Gulf of Mexico Region hosted three members of New Zealand’s Environmental Protection Authority (EPA) January 27th to help foster global awareness. The purpose of New Zealand’s visit was to study BSEE’s operational policy and learn best practices. New
Total Sells Share in Block Offshore Angola for $750 M
Total announces the sale of its 15% participating interest in the offshore Angola Block 15/06 to Sonangol E&P. The transaction is valued at 750 million dollars and remains subject to customary approvals. “The sale of our interest in Block 15/06 is in line with Total’s global strategy to actively man
SMIT Salvage to Remove Sunken Rig from Seabed Offshore Angola
SMIT Salvage has been awarded a contract to remove a damaged jack-up drilling rig from the seabed offshore Angola.
Premier Oil’s CEO to Resign (UK)
Premier Oil announces that Simon Lockett, Chief Executive Officer, has notified the Board of his intention to step down. Lockett has agreed to remain Chief Executive Officer until a successor has been identified and appointed by the Board, to ensure a seamless transition. Lockett has also agreed to
BP 4Q Profit Slumps on Divestments, Weak Refining Margins, Write-Offs
BP today announced its financial results for the fourth quarter and full year of 2013. Underlying replacement cost profit for the fourth quarter was $2.8 billion, compared with $3.9 billion for the fourth quarter of 2012. Full-year underlying replacement cost profit was $13.4 billion for 2013, compa
North Atlantic Drilling Orders GE’s BOP Control Systems
Offshore drilling contractor North Atlantic Drilling has agreed to purchase two next-generation GE Oil & Gas SeaONYXTM blowout preventer (BOP) control systems, upgrading control spreads on board NAD’s semi-submersible West Venture and drill ship West Navigator. The SeaONYX BOP control system exten
Kosmos Energy to Spend Two Thirds of Capex on Ghana
Kosmos Energy Ltd. announced today an oil and gas reserve replacement ratio of 140% supported by increased oil reserves in the Jubilee field. Additionally, the company reported a 2014 capital spending plan of approximately $575 million. 2013 capital spend came in under budget at $425 million primari
Zamakona Yards: FSV Hull Launched
The Zamakona Yards on Friday launched the “Ocean Marilin” vessel hull in its yard in Pasajes in Northern Spain. The vessel is the second which Zamakona Yards has launched of the three vessels contracted with the Norwegian shipping company, Atlantic Offshore A.S. The principal mission of the vessel w
ROVOP Buys Four Schilling HD ROVs for $20 M
Subsea specialist ROVOP has expanded its fleet of remotely operated vehicles (ROVs) by taking delivery of four new hydraulic work class systems with a further four new ROVs expected later in the year. The company has invested $20million (over £12 million) in the four hydraulic Schilling HD work clas
Harkand Now Offers Subsea Services in Gulf of Mexico
International subsea inspection, repair, maintenance (IRM) and light construction company Harkand is expanding its global services with a renewed focus on delivering high-specification survey services in the burgeoning Gulf of Mexico market. An already established, rapidly-growing player in the regi
Sonar Equipment Services Renamed to Subsea Technology & Rentals
A new name in advanced subsea equipment supply is being unveiled at Subsea Expo on Wednesday 5th of February 2014. Great Yarmouth-based Sonar Equipment Services will now trade under the name of Subsea Technology & Rentals (STR) to better reflect the broader range of products and associated services