Fossil Energy
Wood Group PSN Names New CFO (UK)
Wood Group PSN (WGPSN) has appointed a new chief financial officer (CFO). David Kemp joins Wood Group’s largest division from Trapoil, an independent E&P company where he was financial director. He replaces Duncan Skinner, who is retiring from the industry. Born in Thurso, in the Scottish Highlands,
BP to Pay $340 Mln for Restoration Projects in Louisiana
Governor of Louisiana Bobby Jindal announced Monday that BP has agreed to fund approximately $340 million in restoration projects for Louisiana. This investment is part of the $1 billion that BP agreed to invest for early restoration of damaged natural resources resulting from the Deepwater Horizon
MEO Australia: New Exploration Manager Named
MEO Australia Limited advises the following personnel changes effective 1st June 2013. Dave Maughan has elected to retire from his current role as Exploration Manager, effective 1st June 2013 and has accepted an ongoing advisory role with commensurately less demand on his time. Concurrently, Peter S
Rialto to Pay $12 Mln for Early Rig Contract Termination
Rialto Energy Ltd. has entered into an agreement with Vantage Drilling Company regarding payment terms in relation to the early termination of the rig contract regarding the Vantage Sapphire Drilling Rig. Under the terms of the settlement, Rialto will pay Vantage an amount equal to 75 days of operat
Hyperdynamics’ Senior VP of Operations Resigns (USA)
Hyperdynamics Corporation has announced the resignation of Michael W. Palmer, Senior Vice President of Operations. Palmer will remain with the Company through May 31, 2013. “Mike has been a valuable contributor to our efforts in Guinea since joining the Hyperdynamics team three years ago,” said Ray
Genel Hires Noble’s Rig for African Offshore Drilling Campaign
Genel Energy has signed a drilling rig contract with Noble Corporation for its African offshore drilling programme. The Noble Paul Romano deepwater, semi-submersible rig will be used to deliver a high impact drilling campaign over a 2 year period, starting in the last quarter of 2013. The rig, which
Nordic Energy to Acquire Exploration Licence in Danish North Sea
Nordic Energy PLC, a company focused on making investments in the North Sea oil and gas sector, has announced NikOil Limited `NikOil’), a private company jointly owned by the Directors of Nordic, has been awarded by the Danish Government the 3,600 sq km offshore exploration and production licence 01
BG Completes Mzia-2 DST Offshore Mozambique
BG Group today announced it had completed another successful drill stem test in Block 1 offshore Tanzania, with initial results from the Mzia-2 well showing better than expected properties in the deeper Cretaceous reservoir. The test on Mzia-2, the first done on a Cretaceous discovery in deep water
Seadrill, SapuraKencana Wrap Up Tender Rig Deal
Seadrill and SapuraKencana have today completed the the transaction to integrate Seadrill Limited’s (“Seadrill”) tender rig division into SapuraKencana Petroleum Berhad (“SapuraKencana”) The agreed upon acquisition price is for an enterprise value of US$2.9 billion, which includes cash, SapuraKencan
WesternGeco Shoots Seismic Survey Offshore Mozambique
WesternGeco yesterday announced that it has begun acquisition of a major multiclient seismic survey offshore Mozambique using the ObliQ sliding-notch broadband acquisition and imaging technique. The technique optimizes the recorded bandwidth of the seismic signal enabling more detailed imaging of th
Petrobras Sells Gulf of Mexico Stake for $110 Mln
Brazil’s national oil company Petrobras announces that it has signed today a Sale and Purchase Agreement (SPA) for the sale of the 20% stake the company holds in exploratory blocks KC 49, 50, 92, 93, 94 and 138 in the US Gulf of Mexico. These blocks make up the asset known as Gila, and the […
Ferguson Group Extends Reach Across East Africa
The Ferguson Group, specialists in the rental of DNV 2.7-1/EN12079 certified containers, tanks, baskets, refrigeration containers, accommodation and engineering modules to the offshore energy sector, has announced a new partnership with Alpha Logistics Services (EPZ) Ltd, extending its reach across
Contango Acquires Crimson Exploration (USA)
Contango Oil & Gas Company and Crimson Exploration Inc. jointly announced yesterday that they have signed a merger agreement for an all-stock transaction pursuant to which Crimson would become a wholly owned subsidiary of Contango. Upon consummation of the merger, each share of Crimson stock will be
Polarcus 1Q Revenues Up 45 Pct (UAE)
Polarcus Limited, a UAE-based seismic acquisition specialist has reported its revenues for the Q1 of USD 144.8 million, up 45% from Q1 2012. The company’s EBITDA was USD 52.9 million, up 103% from Q1 2012. Net Cash Flow from operations was USD 40.5 million. In Q1 2013 Polarcus continued to deleverag