Oil & Gas Journal Archive
- Christian elected chairman of Texas RRC
- Anadarko sanctions Mozambique LNG project
- Leaseholders told to recalculate royalties under 2016 rule
- PTTEP agrees to acquire Partex Holdings
- ConocoPhillips to acquire Nuna discovery acreage
- Roberts named Stakeholder Midstream COO
- Lime Rock to buy certain Oklahoma assets from BP
- MARKET: Brent crude falls more than $1/bbl
- ONGC moves 35 rigs ahead of monsoon season
- DRBC approves dock, adds products to Gibbstown project
- MARKET: Brent for August tops $62/bbl
- Baker Hughes: US rig count down 6 units to 969
- WoodMac: Argentina LNG poised to meet Asian demand
- IEA consecutively cuts oil demand growth forecast
- Husky fined for 2016 Saskatchewan oil spill
The US drilling rig count gained 15 units to 462 during the week ended July 22, representing its biggest increase since this week a year ago, according to Baker Hughes Inc. data. Fourteen of the units to come online are oil-directed.
The UK Continental Shelf (UKCS) is home to more than 4,000 wells drilled since the passing of the country's Continental Shelf Act in 1964. More than Â£50 billion has been invested in the last half-century, and the UKCS has produced more than 45 billion boe during the same period.
Crude oil prices in Texas averaged $45.19/bbl in June, marking the fourth straight monthly increase since the average monthly price fell to a low of $27.08/bbl in February.
Tesoro Corp. and Par Pacific Holdings Inc. have reached an agreement with US regulators under which the companies will spend a combined $425 million to settle past violations of the Clean Air Act (CAA) and reduce future air pollution from six US refineries.
As offshore production facilities near the end of their design-lives, operators often increase focus on maintaining asset integrity. Some mature fields could deliver additional resources with more efficient production assets, but achieving this goal can be problematic without an asset integrity management (AIM) program.