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Analysis: SE Asia Rig Market Challenged, But Construction Continues

Friday, November 06, 2009 - Today there are about 25 operators active in Southeast Asia with 46 rigs currently contracted.
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Industry Headlines

U.S. Jobs Data Sobers Market, Oil Slips to One-Week Low

Friday, November 06, 2009 - Heading into the weekend on a sobering note, oil prices were knocked down to the lower end of their current trading range near $77 as U.S. jobs data left the market dazed and confused over the state of the economic recovery.

Analysis: SE Asia Rig Market Challenged, But Construction Continues

Friday, November 06, 2009 - Today there are about 25 operators active in Southeast Asia with 46 rigs currently contracted.

Mexico, U.S. GOM Operators Monitor Ida

Friday, November 06, 2009 - Tropical depression Ida and adverse weather due to hit the southwestern Gulf next week could pose as a threat to operators in the Gulf of Mexico.

Baker Hughes: U.S. Rig Count for October Up 35 to 1,044

Friday, November 06, 2009 - Baker Hughes announced that the international rig count for October 2009 was 983, down 3, and the US rig count for October 2009 was 1,044, up 35, from September's counts.

Exxon-Shell Consortium's Deal Will Boost Iraq's Output

Friday, November 06, 2009 - ExxonMobil and Royal Dutch Shell signed a deal with the Iraqi Oil Ministry on Thursday to develop a major field, marking the first foray by a U.S.-led consortium into Iraq's promising but uncertain oil industry.

Exploration

Petrobras Makes Huge Natural Gas Find in Peru

Friday, November 06, 2009 - Petrobras confirmed Friday the company has made a natural gas find in Peru's Block 58, possibly containing up to 5 trillion cubic feet of natural gas.

DONG: Oil Cos Exploring in Greenland form Lobby Group

Friday, November 06, 2009 - A group of western oil companies and the state-owned Greenland oil company have formed an industry lobby group to facilitate the development of hydrocarbon resources in the country, Denmark's DONG Energy said in a statement Friday.

Tenaris Sees Mexico Pemex Reducing Chicontepec Activity in '10

Friday, November 06, 2009 - Steel-tube manufacturer Tenaris on Friday said it sees Mexican state oil company Pemex reducing its emphasis the Chicontepec basin in 2010 as it develops its production strategy.

Eni Inks E&P Cooperation Agreement with KazMunayGas

Friday, November 06, 2009 - The heads of Eni and KazMunayGas have signed a cooperation agreement on exploration and production activities and strategic industrial facilities in Kazakhstan.

Epsilon Withdraws from Oman Block 55

Friday, November 06, 2009 - Epsilon sent a letter to the Ministry of Oil and Gas, Sultanate of Oman stating that the company is withdrawing from the Exploration and Production Sharing Agreement covering Block 55, where it is the official operator.

Questar Commences Drilling at Johnson Bottoms Unit

Friday, November 06, 2009 - The initial well at the newly unitized Johnson Bottoms Unit in Utah commenced horizontal drilling on November 3, 3009.

Production

15 in Block 15: ExxonMobil's Esso Tops 1B Barrels in Angola

Friday, November 06, 2009 - Exxon Mobil Corporation affiliate Esso Exploration Angola (Block 15) Limited (Esso Angola) is celebrating 15 years of safe and successful operations in Angola.

USW: Proposed Tariffs for China Dumping of OCTG Pipe Overdue

Friday, November 06, 2009 - USW called today's order by the U.S. Department of Commerce for proposed anti-dumping tariffs on China pipe imports an overdue message for thousands of American laid off workers that trade laws are being enforced.

CNPC's Jilin Oil Field to Build 700,000 Tons of New Output Capacity in 2010

Friday, November 06, 2009 - CNPC plans to build 700,000 tons of new production capacity in its Jilin oil field in 2010, said CNPC on Thursday.

Stratic Trims 2009 Gross Production Estimate for West Don

Friday, November 06, 2009 - At West Don, Stratic now considers that 2009 gross production from the field will be approximately 1.75 million barrels of oil, down from its previous estimate.

Bulgaria Confirms Commerciality of Melrose's Kavarna Gas Field

Friday, November 06, 2009 - Melrose Resources has provided an update on its operational activities in Bulgaria, Romania and Egypt.

Gran Tierra Cites Record Quarterly Production for 3Q 2009

Friday, November 06, 2009 - "During the third quarter we executed our exploration and development program and grew production to record levels in spite of a period of reduced production," said Dana Coffield, President and Chief Executive Officer of Gran Tierra Energy.

Lux Energy's West Central Alberta Production Exceeds Expectations

Friday, November 06, 2009 - Lux Energy has established a firm foothold in its West Central Alberta oil and gas venture.

Finance and Investing

Suncor Posts Higher Net Earnings for Third Quarter '09

Friday, November 06, 2009 - Suncor Energy reported third quarter 2009 net earnings of $929 million, compared to $815 million in the third quarter of 2008.

Cheniere Completes Sabine Pass LNG Terminal in 3Q 2009

Friday, November 06, 2009 - Cheniere Energy reported a net loss of $42.5 million for the third quarter 2009 compared with a net loss of $71.6 million during the corresponding 2008 period.

Dril-Quip Reports Third Quarter 2009 Financial Results

Friday, November 06, 2009 - Dril-Quip's total revenues were $138.2 million during the quarter ended September 30, 2009 compared to $132.3 million for the same period in 2008.

Mariner Energy Sees Year-over-Year Increases for 2009

Friday, November 06, 2009 - Mariner Energy has reported third quarter 2009 financial and operating results. The company reported net income of $4.2 million for the three-month period ended September 30, 2009.

Vermilion Energy Notes Interim Operating, Financial Results

Friday, November 06, 2009 - Vermilion Energy Trust has reported its interim operating and unaudited financial results for the three and nine month periods ended September 30, 2009.

Company Operations

Halliburton Wins 5-Yr Drilling Gig in Mega-Giant Ghawar Field

Friday, November 06, 2009 - Halliburton has been awarded a five-year integrated turnkey drilling contract involving work in Ghawar, the world's largest oil field.

Crosco Buys More Time with Ocean King Jackup

Friday, November 06, 2009 - Crosco has announced a 219 day plus options extension of the bareboat charter contract with Diamond Offshore for the use of the jackup drilling rig Ocean King.

Subsea 7 UK Engineering Services Manager Aces Top O&G Award

Friday, November 06, 2009 - Subsea 7's UK Engineering Services Manager, Craig Porter, last night won the highly contended Mentoring Award at the Oil and Gas UK annual awards ceremony.

API Appoints New Executive VP of Government Affairs

Friday, November 06, 2009 - API announced today Martin J. Durbin has been named its new Executive Vice President of Government Affairs. Durbin will join API in December.

Argenta Names Glenn Van Doorne as Board Chairman

Friday, November 06, 2009 - Argenta Oil & Gas has appointed Glenn Van Doorne as Chairman of the Board.

Stratic Sells Italian Business, Longanesi Gas Field Interest to Enel

Friday, November 06, 2009 - Stratic has announced the sale of its Italian business to Enel Trade SpA, a subsidiary of one of Italy's largest companies.

Petromin Appoints Jinwei Julie Xu as CFO

Friday, November 06, 2009 - Petromin Resources announced the appointment of Jinwei Julie Xu, CGA to the position of Chief Financial Officer effective immediately.

Heerema Marine Contractors Elects New CEO

Friday, November 06, 2009 - Heerema Holding and the Advisory Board of Heerema Marine Contractors announced that as of November 4, 2009 Jan Pieter Klaver has been appointed as the new Chief Executive Officer.