Santos Acquires ConocoPhillips’ Northern Australia Interests
Santos announced it has acquired ConocoPhillips’ northern Australia business with operating interests in Darwin LNG, Bayu-Undan, Barossa and Poseidon for US$1.39…
Aker BP buys Hess' Norway unit for $2 bln
Output from Hess Norway field stakes 24,000 boepd. Aker BP will add the Norwegian operations of U.S. oil company Hess to its expanding exploration and production…
The New Offshore Reality
Swedbank’s chief economist, Harald Andreassen, isn’t “too hopeful” about the long-term prospects for the oil price, but then again, “I’m less certain of this than I’ve ever been as an economist…
Total on Hunt for Deals After Outperforming Rivals
French oil company Total is on the hunt to buy assets from struggling rivals, it said on Thursday, as it reported some of the biggest profits in the industry for last year and raised its dividend.
BP Lifts Break-Even Oil Price
Lowest annual profit in at least a decade; raises breakeven oil price to around $60 per barrel. BP raised the oil price at which it can balance its books this year…
Shell to Sell Some North Sea Assets to Chrysaor
Shell has agreed to sell a package of UK North Sea assets to Chrysaor for a total of up to $3.8bn, including an initial consideration of $3.0bn and a payment of…
Ithaca Energy Logs Robust Performance
Ithaca Energy Inc. announces its quarterly financial results for the three months ended 30 September 2015 (“Q3-2015” or the “Quarter”) and for the nine months ended 30 September 2015.
US Rig Count Seen Bottoming Out Soon
The U.S. drilling-rig count, which recorded its 26th straight weekly decline this week, is close to bottoming out ahead of a recovery in the second half of the year…
Algeria Walks Economic Tightrope as Oil Falls
For months, Algerian officials repeated their mantra that large foreign exchange reserves would shield the country from collapsing oil prices. Last week, Prime Minister…
Lower Oil Price Effect on GCC Economies in 2015
The Brent oil price per barrel lost more than 50% of its value from $114 in June 2014 to the current price of about $50. Coface expects it to average at $75 on average in 2015.
North Dakota County Impacted Oil Drop
Just over a decade ago, this sleepy farming community on the fringe of North Dakota's Bakken shale formation hosted the state's first horizontal oil well to be hydraulically fractured…
