Chevron posted total earnings of US$415 million for Q4 2016, however, posted a loss for full-year 2016 that the US supermajor says were due to the low oil prices. Image from Chevron. Chevron’s Q4 2016 earnings reflected a gain…
Murphy Oil announced a partnership with supermajor Chevron in the Gulf of Mexico in Q4 2016, in addition to suffering from a net loss of US$64 million during the period, and an even bigger loss for the year. Image from Murphy…
Hess Corp. posted a US$4.9 billion net loss in Q4, as the company moves forward to focus on its developments offshore Thailand and in the Gulf of Mexico, which are expected to contribute significant production and cash flow. The…
Vaalco Energy reported strong Q4 and full year 2016 production results. Image from Vaalco. Production for Q4 2016 averaged approximately boe/d, above the previously provided guidance range of 3300-3600 boe/d…
BP is forecasting that renewables will become the fastest growing fuel source by 2035, nearly quadrupling over the next 20 years, according to the UK oil giant’s latest Energy Outlook. Image from BP…
The Secretary General of the Organization of the Petroleum Exporting Countries (OPEC), H.E. Mohammad Sanusi Barkindo, will deliver remarks to delegates during CERAWeek 2017, 6-10 March at the Hilton Americas—Houston. Barkindo will appear…
EnerQuip, designer and manufacture of torque machines and associated products, has opened a new facility in Houston following a growing demand for its products and services. The company has invested US$1 million in this facility, EnerQuip Torque Solutions Inc…
The Bureau of Safety and Environmental Enforcement (BSEE) and US Coast Guard (USCG) signed four revised memorandums of agreement (MOAs) this week in order to improve regulatory collaboration related to the energy industry on the US Outer Continental Shelf (OCS)…
W&T Offshore has received approval for a capex of US$125 million that will set up the Houston-based company to drill six to eight wells in the Gulf of Mexico this year, with its priority going to its Mahogany field. Image from iStock…
Houston’s Ensco agreed to an amendment with Samsung Heavy Industries (SHI) for the ENSCO DS-10 drillship construction contract that will see the delivery extended again until 31 March 2019. Ensco said it may elect to take delivery of…
Byron Energy is weighing a change in development concept for the South Marsh Island 71 (SMI-71) discovery, in the US Gulf of Mexico. The new plan sees the operator opting for a manned platform over an unmanned facility, says 50-50 joint venture (JV) partner Otto Energy…
The Thunder Horse South Expansion project, in the deepwater Gulf of Mexico, has started up 11 months ahead of schedule, supermajor BP announced today (23 January). Illustration of the expansion at Thunder Horse…
Schlumberger disclosed a 22% decline in its full-year 2016 revenue, despite gaining US$4.2 billion from the Cameron Group, which the oil services giant took over in April 2016. Image of Kibsgaard…
DOF Subsea North America has appointed Greg Donnelly as the new general manager of the DOF Subsea US team. Donnelly assumed responsibilities 16 January 2017 and will report directly to Marco Sclocchi, executive vice president North America…
The US Bureau of Safety and Environmental Enforcement (BSEE) and the US Coast Guard are responding to a release of gas and condensate from a pipeline at West Cameron 165 in the Gulf of Mexico, approximately 32mi southwest of Cameron, Louisiana…
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