£3.11bn first-quarter haul for oil giant Exxon
EXXONMOBIL said yesterday it had achieved solid first-quarter 2009 results despite the slowdown in the global marketplace and sharply lower commodity prices.
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Faroe boosts reserves in busiest year yet
Faroe Petroleum, the Aberdeen-based oil and gas operator, said yesterday that 2008 had been its busiest year yet.
Centrica ups stake in Granite City energy firm
Venture Production saw its share price rise again yesterday just a day after it soared more than 26.5% to 734p on news of British and Scottish gas owner Centrica paying almost £230million to buy a 22% stake in the Aberdeen-based oil and gas operator.
Valiant buying out Dana’s stakes in North Sea prospects
Valiant Petroleum is to take full control of two northern North Sea finds.
Apache writes down assets after collapse in price of oil
Apache, operator in the UK North Sea of the Forties oil field, said yesterday that net income nosedived to £497million in 2008, compared with £1.97billion the year before.
Dana strikes bargain to buy rival
Dana Petroleum said yesterday it had agreed to buy UK North Sea-focused Canadian company Bow Valley Energy for about £125million.
Cash-rich TAQA looking for further acquisition targets
The UK arm of Abu Dhabi national energy company TAQA said yesterday it was in the market for acquisitions.
Marathon cutting back on exploration
MARATHON Oil has announced a £4billion capital, investment and exploration budget for 2009, a 24% decrease from last year's.
Successful well tests boost plans for gas field
Faroe Petroleum said yesterday a well and sidetrack well on the Breagh gas discovery in southern North Sea block 42/13 had been tested successfully.
Dana lowers its output expectation
DANA Petroleum, the Aberdeen oil and gas operator said yesterday its production in 2008 was expected to average about 39,000 to 40,000 barrels of oil equivalent per day (boepd), representing 30% growth over 2007.
Shutdown to prove costly for Venture
VENTURE Production said yesterday that before last week's shutdown of its operated Kittiwake platform it had expected this year's average production to be around 45,000 barrels of oil equivalent per day (boepd).
BG upbeat on prospects for future output
Oil and gas operator BG Group said yesterday it had delivered another excellent result in the third quarter of 2008, and its outlook remained strong.
Dyas taking £40m slice of North Sea explorer’s assets
Ithaca Energy, a Canadian oil and gas explorer focused on the UK North Sea, has agreed a deal to sell 25.25% of all its assets to Dyas UK for £40million in cash.
Hurricane season hits production at Forties operator Apache
OIL and gas operator Apache has forecast its 2008 production will fall about 3% on last year because of hurricane disruptions in the Gulf of Mexico to an average 540,000-545,000 barrels of oil equivalent per day (boepd).
Venture adds to North Sea assets
Venture Production said yesterday it was to acquire additional interests in the Cygnus, Kepler, Copernicus and Humphrey gas discoveries plus interests in three exploration blocks.
Shell to four in North Sea with Curlew start-up
THE fourth new North Sea field to be brought on stream by Shell UK this year has achieved production start-up.
Majors see marked rise in profits as prices soar
Oil companies Total, Chevron and StatoilHydro all showed the benefit of soaring oil and gas prices as they reported significantly higher second-quarter profits yesterday.
Tests on Moth yield positive results – Oilexco
Oil and gas operator Oilexco said yesterday it had successfully flow-tested gas condensate at significant rates from its Moth discovery in the UK North Sea.
Dana shares hit record high on strong results
Dana Petroleum shares rebounded yesterday after it reported new records for reserves, production, revenue, and profits in 2007.