Production starts at natural gas development in Malaysia
Startups in Malaysia are expected to add about 60,000 barrels of oil equivalent per day to ConocoPhillips production volumes by 2017. More »
Transocean to retire more rigs, execs say
Transocean lost billions of dollars in the third quarter as it faced sinking demand for offshore rigs and as it wrote down the value of its drilling business. More »
Transocean expects $2.76 billion in writedowns
Swiss drilling contractor Transocean has written off $2.76 billion in book value for its offshore rigs as it faces falling day rates and weaker demand for deep-water drilling. More »
North Carolina officials host closed meeting on oil drilling
Among those in attendance were top officials from the U.S. Bureau of Ocean Energy Management, which regulates drilling operations and handles the sale and lease of off-shore drilling rights in federal waters. More »
Statoil suspends two North Sea oil rigs
Statoil won’t use the Transocean Spitsbergen and Songa Trym rigs from mid-November through at least the year-end because of overcapacity. More »
Statoil projects big returns from massive North Sea oil field
The Norwegian oil conglomerate estimates the field could generate as much as 650,000 barrels of oil per day. More »
Hercules Offshore to lay off 324 workers
Houston-based drilling rig contractor Hercules Offshore has told Texas regulators it will lay off 324 employees as it shuts down four rigs in the Gulf of Mexico. More »
Shell Midstream surges in early trading
Shell’s midstream initial public offering took flight early Wednesday, gaining more than 40 percent shortly after trading started. More »
Oil & gas industry standards could be beneficial, but obstacles abound
Standards sound great, but I see obstacles to their adoption. I’ll outline those this week, and, since no one likes people who complain about problems but never offer any solutions, I’ll share some thoughts on how to overcome these issues. More »
Getting new oil means fathoming the deep
Finding the oil is just the beginning, especially in the depths of the sea. More »
Chevron, BP make oil discovery in Gulf of Mexico
Chevron and BP report an oil discovery in one of the deepest regions the industry has taken on in the Gulf of Mexico. More »
BP, GDF Suez discover new field in UK North Sea
The UK North Sea is an area that BP CEO Bob Dudley said last month “is now mature,” and that investment opportunities “are smaller and more challenging to develop than in the past.” More »
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