Empyrean offloads Sugarloaf for $71million
Empyrean Energy has sold its stake in the Sugarloaf development in the US to Carrier Energy Partners in a deal worth up to $71million.
Marathon Oil
Marathon Oil cuts 2016 spending by half
Marathon Oil said it has reduced its spending for the year by half after reporting a quarterly loss.
JDR wins Marathon contract on West Brae field
Marathon Oil has awarded JDR a contract for the design and manufacture of power and static subsea umbilicals with accompanying hardware for the West Brae field. The company said the full scope of the award will be manufactured and deployed from JDR’s Hartlepool facility.
Brae Alpha platform now in thirteenth day of shut down
The Brae Alpha platform has moved into its thirteenth day in shut down as an investigation continue into the cause of a gas leak.
Still no answers as Brae Alpha shut down moves into eleventh day
A North Sea platform has moved into its eleventh day of shut down as a "comprehensive" investigation by Marathon Oil continues into the cause of a gas leak. Production has been shut down since Boxing Day, with 73 workers remaining on board the platform, which is about 155miles north east of Aberdeen.
Worker at Marathon’s Galveston Refinery injured in acid incident
A worker at Marathon Petroleum Corp's Galveston Bay Refinery in Texas City, Texas, was burned by hydrofluoric acid on Saturday while working on an alkylation unit, which was shut as part of a planned three-month, multi-unit overhaul, a source familiar with plant operations said on Sunday.
Marathon’s Brae Alpha shutdown after suspected gas leak
Marathon's Brae Alpha platform remains out of operation while investigations continue into the cause of a gas leak on board the installation.
Workers rescued from vessel after engine fails close to North Sea platform
An investigation was to take place after three men had to be rescued from a boat near a North Sea platform. Crew members on board the daughter craft of the Grampian Courageous standby vessel were forced to call for help after the engine of the boat failed. Daughter craft are smaller, more maneuverable boats, that operate from bigger emergency response and rescue vessels.
Ingen Ideas lands £8million North Sea contract for Marathon Oil
Ingen Ideas has landed a £8million deal for Marathon Oil's Brae Complex in the North Sea.
Stover to step down from Marathon Oil after 30 year career
Marathon Oil said its vice president of operations services will retire after more than 30 years working in the industry. Michael Stover will step down from his role at the end of the month after joining the company in 1986 as a roustabout. During his time with Marathon Oil he has been responsible for a number of roles which includes economic and reservoir studies for fields in Ireland, Tunisia and Norway.
Marathon Oil hit with improvement notice for Brae Alpha installation
Marathon Oil has been hit with an improvement notice by the HSE (Health and Safety Executive) after a gas leak on its Brae Alpha installation in the North Sea. The company will have until April next year to comply with the notice following the incident 170 miles north east of Aberdeen. The leak happened in June inside the West Brae Caisson on the installation.
Marathon Oil hit by third quarter losses
Marathon Oil said it plans to make a spending cut of around 29% after losses of $749million in the third quarter. The company said low commodity prices had prompted its move to write down the value of assets. Marathon, with operations in Texas and Equatorial Guinea, said the company expects total output to grow 7%.
VIDEO: Incredible footage of orcas near North Sea platform
The crew of a North Sea emergency response and rescue vessel were amazed to see a school of orca whales surround their ship, 155 nautical miles east of Aberdeen.
Marathon Oil is latest oil major to report big loss
Marathon Oil became the latest oil and gas major to post a massive cut in earnings in 2015 - revealing a $386 million loss for the three months to June 30.
Asco ties up £50m deal with Marathon for North Sea support services
North-east oilfield support services firm Asco has struck a deal worth more than £50million with Marathon Oil UK for work in the North Sea. The five-year contract will see Asco provide a range of integrated oilfield services to support Marathon’s Brae field operations. Commenting on the award, Craig Lennox, Asco’s chief executive for Europe, said: “Asco has supported Marathon Oil for many years and we are delighted to secure a new long term contract with them.
Marathon Oil seeking bids in East Africa onshore blocks
Marathon Oil is said to be seeking bids for its interest in four onshore exploration blocks in East Africa. The company is looking to focus on its blocks in the US shale formations.
Marathon Oil to reduce headcount by around 10%
Marathon Oil is expected to reduce its headcount by around 10% as it looks to lower costs. The company said it between 350-400 jobs would be affected by the decision. It is expected staff affected will be based in the US.
Marathon Oil: Investment and exploration budget to be 20% lower
Marathon Oil has estimated its investment and exploration budget will be 20% lower for 2015. The company said the capital program of around $4.5billion for next year will reflect a significant weighting to the company’s high return investment opportunities in the US as well as lower exploration spending. Marathon said the “continuing dynamic change” in crude oil markets, together with the expected impact to oilfield service cost, mean it will need additional time before the budget is finalised.
North Sea workers consider strike over TV row
North Sea oil workers at Marathon Oil are considering industrial action after bosses cut their satellite television and daily newspaper subscriptions.