DEA Norge AS announced Friday that it has acquired a participating interest in seven licenses in the Njord area in the Norwegian Sea, including a 20 percent increased interest in the Njord field, from Engie E&P Norge AS. “The acquisition adds approximately 45 million barrels of oil equivalent in reserves and contingent resources to DEA…. Read more »
Monthly Archives: December 2016
Goodrich Petroleum Common Stock Commences Trading On OTCQX
Goodrich focused on TMS, Haynesville, Eagle Ford Goodrich Petroleum Corporation’s (OTCQX: GDPP) common stock commenced trading today on the OTCQX market under the trading symbol GDPP. Goodrich President Robert C. Turnham said in a statement, “We are very pleased to have the opportunity to trade on OTCQX and see this as an important step towards… Read more »
Chevron announces $20 Billion Capex in 2017
70% of planned upstream projects will generate production in 2 years California-based Chevron Corp. (ticker: CVX) announced its 2017 capital budget Wednesday. The company will cut its capex spending for the fourth consecutive year as it focuses on short-cycle, high-return investments, according to the company. Including $4.7 billion in affiliate expenditure, Chevron’s 2017 budget will… Read more »
OPEC Deal Will Go Ahead Even If Only Russia Commits
ABU DHABI, Dec 7 (Reuters) – OPEC’s deal to cut oil production will go ahead even if Russia becomes the only non-OPEC country to commit to reduce output at a meeting this week, Nigeria said on Wednesday, while the UAE voiced optimism that other producers would participate. OPEC agreed last week to slash output by… Read more »
OPEC Crude Cut Could Push Oil to $75 Per Barrel in 2017
Following months of global oil market angst, OPEC has pledged to cut its production by almost 1.5 million barrels per day (MMbpd) – a greater target than proposed when the cartel last met in Algeria. This first OPEC accord in eight years is designed to accelerate the rebalancing of a market that has shown some signs of… Read more »
OPEC to Cut Crude Production by 1 MMbpd in January
Following months of global oil market angst, the Organization of Oil Producing Countries (OPEC) has agreed to cut its crude production Jan. 1 by more than 1 million barrels per day (MMbpd) to 32.5 MMbpd. The International Energy Agency has estimated that as a group, OPEC currently produces 33.8 million MMbpd. In September, the cartel said member… Read more »
