Hofmeister looks for WTI to climb toward $100, while Morse sees one scenario at $20 John Hofmeister, former Shell Oil Company president, was on BNN today predicting the return–sooner than later–of much higher oil prices due to increasing decline rates, particularly from shale wells, increasing capital constraints and the recent dramatic decline in rig count, all factors that point to falling oil production in the U.S.
Story by Oil & Gas Technology Statoil and its licence partners have chosen an unmanned wellhead platform as the concept for the Oseberg Future development phase I project in the North Sea. Total cost for such unmanned wellhead platform is found to be very competitive to a subsea concept, all elements of construction, equipment, wells and maintenance considered Three various
The dust is settling on the first phase of the global oil market share war. Oil has been hovering around $50/barrel for nearly a week – a long-awaited relief to the industry which was wondering, exactly, where is rock bottom? The recent stabilization of oil prices has prompted some analysts to make the necessary adjustments to their respective models and
Decision by the European Union allows for sale of Canadian oilsands crude in the Eurozone The European Union will now officially treat oilsands crude the same as oil from elsewhere in the world, after finalizing the decision on Friday, February 6, 2015. The European Parliament voted in December to remove restrictions from importing Canadian oilsands, which was accepted without amendments
BPZ Energy (BPZ) (BPZ), an independent oil and gas exploration and production company, today announced the results of an independent evaluation of the Company’s certified year-end 2014 oil reserves at offshore Block Z-1. The following discussion includes BPZ Energy’s 51% interest in oil reserves and associated production for the Albacora and Corvina fields at Block Z-1. Oil reserves are presented
MIDLAND, Texas and PLANO, Texas, Feb. 9, 2015 /PRNewswire/ — Dawson Geophysical Company (“Dawson”) (DWSN) and TGC Industries, Inc. (“TGC”) (TGE) announced that at their respective special meetings of shareholders held on February 9, 2015, each company obtained sufficient votes for each proposal required to consummate the previously announced proposed strategic business combination between Dawson and TGC. Pursuant to the Agreement
REN Closes at $1.20 DENVER, Feb. 9, 2015 /PRNewswire/ — Resolute Energy Corporation (“Resolute” or the “Company”) (REN) today announced that it had received notification on February 3, 2015, from the New York Stock Exchange (“NYSE”) that the price of Resolute’s common stock has fallen below the NYSE’s continued listing standard. The NYSE requires that the average closing price of a
Russia’s oil and gas industry faces many obstacles in today’s market, but sanctions may be causing the most damage For the first time in a decade Russia’s credit rating was downgraded to junk by Standard & Poor’s rating agency last week as the Russian economy continues to weaken under the weight of an increasingly bleak outlook. Low oil prices have
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