Deep Down, Inc. , an oilfield services company specializing in products and services for the deepwater and ultra-deepwater oil and gas industry, today reported $606 thousand of net income for the third quarter of 2011, an improvement of $5.0 million, or greater than 800 percent, over the same period
A Russian court threw out two multi-billion dollar lawsuits against BP on Friday, handing the British oil company a key victory in legal … By Melissa Akin and Vladimir Soldatkin (Reuters) [mappress] Source:Reuters , November 11, 2011;
Essar Shipping, a part of Essar Group, has bagged a contract worth USD 121 million from ConocoPhillips to drill 11 offshore wells in … Source: The Economic Times [mappress] Source: The Economic Times, November 11, 2011; Image: Essar Group
INPEX CORPORATION (INPEX) today said all approvals, including Production Licences, for the Ichthys LNG Project, which is 76% owned by INPEX and 24% owned by Total, are on track for the Project to make a Final Investment Decision (FID) targeted by the end of the year 2011. Offshore, INPEX intends to
RAK Petroleum Public Company Limited, the exploration and production company, today announced temporary suspension of drilling operations on the Saleh-5 well offshore Ras Al Khaimah following consultations with partner RAK Gas LLC which this week exercised its full 30 percent back-in option to the f
The Lebanese offshore is optimistic about the prospect of its first license round, expected in Q1 2012. This summer, the Lebanese Ministry of Energy and Water held a dedicated forum to inform the industry of the process towards the round. New PGS MultiClient data is available in the area. Lebanon In
Spectrum is set to commence acquisition of a new 2D Multi-Client seismic survey in early November 2011 which covers several areas in the northern equatorial margin offshore Brasil. The survey area includes sector blocks expected to be announced in the 11th license round in the second quarter of 2012
Bergen Group Hanøytangen is awarded contract for a one-week yard stay for the accommodation rig Safe Caledonia. The yard stay will take place in Q4 this year, and represents the fourth rig project for Bergen Group Hanøytangen in the 2nd half of 2011. During the yard stay that includes some modificat
Chinese state-owned oil company Sinopec Group said on Friday it had agreed to pay $3.54 billion to Portuguese oil firm Galp Energia for a… By Judy Hua, Wan Xu and Ken Wills (Reuters) [mappress] Source: Reuters, November 11, 2011
The Bureau of Safety and Environmental Enforcement (BSEE) yesterday issued a Safety Alert relating to the Macondo well blowout. The Safety Alert was distributed to oil and gas leaseholders and contractors working on the Outer Continental Shelf (OCS). It briefly summarizes the findings of the Joint I
Kosmos Energy announced yesterday financial results for the third quarter 2011. The Company generated net income attributable to common shareholders of $52 million in the third quarter of 2011, or $0.13 per basic and diluted share. This compares to a net loss attributable to common unit holders of $
Spanish oil major Repsol-YPF plans to begin exploratory drilling in Cuban waters of the Gulf of Mexico at the start of 2012, the firm’s … Source: Latin American Herald Tribune [mappress] Source: Latin American Herald Tribune, November 11, 2011;
Teekay Offshore GP L.L.C., the general partner of Teekay Offshore Partners L.P. (Teekay Offshore or the Partnership), yesterday reported the Partnership’s results for the quarter ended September 30, 2011. During the third quarter of 2011, the Partnership generated distributable cash flow of $52.1 mi
Department of the Interior Secretary Ken Salazar and Bureau of Ocean Energy Management (BOEM) Director Tommy P. Beaudreau yesterday announced that BOEM would hold the first oil and natural gas lease sale in the Gulf of Mexico since the Deepwater Horizon explosion and oil spill. This announcement is
