Magnus acquisition my ‘cup of tea’, EnQuest boss says
EnQuest bosses said yesterday its acquisition of 75% of the Magnus field, giving it 100%, would deliver a huge “step change” for the oil firm.
oil
Oil heads for weekly loss as market rout threatens demand
Oil was poised for the biggest weekly decline since July as a rout in emerging markets raises concern energy demand will weaken.
Serica, BP give themselves extra time to complete North Sea transaction
Serica Energy and BP have given themselves an extra month to complete a transaction involving a North Sea field partly-owned by Iran.
Airlines step up oil hedges before 2020 shipping rule bites
Airlines are starting to hedge against the risk that fuel prices could be driven higher by rules targeting another industry’s environmental performance.
Updated: EnQuest will pay £230m for 100% of Magnus field, shares slide
Oil firm EnQuest said today that it would exercise an option to buy the remaining 75% interest in the Magnus field from BP for £230 million.
Neptune Energy’s first ever results reveal hefty profit
Neptune Energy’s inaugural set of financial results revealed profits in excess of £250 million in the first half of 2018.
Prof Kemp to deliver more bullish North Sea production forecast
Top petro-economist Alex Kemp will soon deliver a more “bullish” forecast for North Sea oil production out to 2050.
Mossmorran key to Shell’s gas exploration plans in the UKCS
Shell’s plant manager at Fife NGL at Mossmorran said the plant was critical to the company’s North Sea exploration and production plans for years to come.
Updated: Tailwind buys into Columbus field with EOG transaction
Tailwind Energy has agreed to buy the UK business of Houston-headquartered oil and gas firm EOG Resources.
Marathon warned after East Brae ‘lifting incident’
The UK Health and Safety Executive (HSE) handed an improvement notice to Marathon Oil after a "lifting incident" on the East Brae platform led to an injury.
OPINION: How oil executives make their own luck on pay
You have to make your own luck, allegedly, but it really helps when stuff just goes your way. And it really really helps if you can somehow combine favorable vagaries with a little fortune-engineering of your own.
OPINION: Helping our offshore supply chain compete
Later today, with my colleagues Neil Gordon, Subsea UK Chief Executive and Stuart Payne, Director of HR and Supply Chain at the Oil & Gas Authority (OGA), I’ll provide evidence to the Scottish Affairs Committee in Westminster on a proposed sector deal.
Report: More than $90 billion in deals made in Permian Basin since 2013
The Permian Basin has been the hottest shale play in the U.S. for years, according to a new report.
Oil dips on US supply concern as storm threat eases
Oil fell near $69 a barrel on concern over higher inventories at a key storage hub in the U.S. and as the threat posed by a storm to Gulf of Mexico assets eased.
Oil nears $70 a barrel, as Storm Gordon moves in
The crude market is placing more importance on a stronger dollar and a potential Cushing, Oklahoma, stockpile build than on Tropical Storm Gordon’s threats to oil assets.
Time for oil industry to move up a gear in tech race, ENGenious event hears
An oilfield technology expert has urged the industry to find a “higher productive gear” at an inaugural event in Aberdeen.
Hurricane deal makes Spirit ‘more attractive’ to new JV partners
Spirit Energy’s boss said yesterday that the firm’s swoop for stakes in two North Sea licences would make it “more attractive” to potential new joint venture (JV) partners.
Spirit, Hurricane deal ‘win-win’ for both firms, analyst says
Spirit Energy’s swoop for stakes in Hurricane Energy’s Greater Warwick Area (GWA) is a “fantastic deal”, an analyst has said.
Updated: Hurricane sells west of Shetland stakes to Spirit Energy
Hurricane Energy said today that it had sold 50% of its Lincoln and Warwick licences to Spirit Energy.
Cluff working ‘tirelessly’ on farm-out as first-half losses widen
Cluff Natural Resources' (CLNR) chairman said today that the company is "working tirelessly" to find partners for two of its North Sea licences.
Tailwind completes acquisition of Triton stakes from Shell, Exxon
North Sea newcomer Tailwind Energy has completed a deal to buy Shell and ExxonMobil’s stakes in the Triton cluster.
Brent stalls below $78 as Iran loss offset by higher supply
Oil struggled to gain above $78 a barrel as the prospect of shrinking Iranian crude exports was countered by signs of higher output from top producers Saudi Arabia and Russia.
Denmark to fall from oil export top spot
Denmark's 25-year reign as top oil exporter is due to end this year as North Sea outputs decline.
ONS 2018: Talks under way to solve Cygnus gas blend snags, Neptune says
Neptune Energy’s boss said talks are under way to solve regulatory issues that are hindering production from the giant Cygnus gas field in the southern North Sea.
ONS 2018: Boost as UKCS projects with 300m barrels approved in 2018, OGA says
UK North Sea oil field projects commanding capital spending of almost £2 billion have already been sanctioned this year, representing a big increase on 2017 levels, the Oil and Gas Authority (OGA) has said.