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Vaalco Annonces South East Etame 4h Well Has Been Successfully Completed And Placed On Production

Vaalco Energy, Inc. (NYSE: EGY; LSE: EGY) (“VAALCO” or the “Company”) today provided an update on the successful completion of its 2019/2020 drilling program as well as an operational update.HighlightsSuccessfully completed the South East Etame 4H development well including approximately 750 feet of horizontal section in the Gamba reservoir;Brought the…


Eni, COVID-19 update: 2020-2021 business plan revision

With respect to the information disclosed to the market on 18 March 2020, Eni has concluded in advance a revision to its planned activities as a result of the sharp decrease in commodities prices and the foreseeable constraints arising from the COVID-19 pandemic.Specifically, Eni will reduce Capex in 2020 by…


OMV decides on action plan to safeguard financial strength

Reduce organic investments by around EUR 500 mn to below EUR 2 bn in 2020Cut costs by around EUR 200 mnPay for Borealis acquisition in two tranches: more than EUR 2 bn not due until end of 2021Postpone EUR 1.5 bn-worth of projects to 2022The global spread of the coronavirus…


Cairn Energy - Operational Update – 2020 Reduced Capital Expenditure

Further to its Preliminary Results disclosure on March 10, 2020 and in light of current market conditions, Cairn is proactively reviewing each of its assets and related capital expenditure programmes. Significant reductions and deferrals have already been identified for the 2020 programme, representing an overall 23% reduction in capital expenditure…


Valaris Provides Update on Operations, Contracts and Guidance

Valaris plc (NYSE: VAL) (“Valaris” or the “Company”) announced today that the Company continues actively working to recover or replace the blowout preventer (BOP) stack on VALARIS DS-8 following a non-drilling incident earlier this month. On March 19, 2020, the Company received a termination notice for the drilling contract for…


Okea AS – consent to use Island Constructor – light well intervention

The Petroleum Safety Authority Norway have given Okea AS consent to use Island Constructor for light well intervention on the Draugen field.


ConocoPhillips – consent for use of Island Constructor

The Petroleum Safety Authority Norway has given ConocoPhillips Skandinavia AS (ConocoPhillips) consent to use the Island Constructor mobile well intervention facility for well intervention activities in the Greater Ekofisk Area.


Magseis Fairfield announces award of deepwater OBN program in Mexico

Magseis Fairfield has been awarded a deep water OBN project in the Mexican sector of the Gulf of Mexico. Work is scheduled to commence in the third quarter of 2020 and will take approximately 60 days. The survey will be carried out in water depths of 2,000 to 2,600 meters.…


Fugro Partners With Sea-Kit International To Develop New Range Of Uncrewed Surface Vessels

Fugro, the world’s leading Geo-data specialist, has announced a strategic partnership with SEA KIT International, winner of the Shell Ocean Discovery XPRIZE.SEA-KIT, a global provider of hi-tech solutions to maritime and research industries, will work with Fugro to develop a new range of agile and compact uncrewed surface vessels (USVs)…


Occidental Provides Update on Capital Spending and Cost Reductions

Occidental Petroleum Corporation (NYSE:OXY) announced today a further reduction in 2020 capital spending to between $2.7 billion and $2.9 billion from its original 2020 guidance of $5.2 billion to $5.4 billion, a midpoint reduction of 47 percent. At current commodity prices, 2020 annual production from continuing operations is expected to…


Bahamas Petroleum Company plc ("Bahamas Petroleum" or the "Company") Perseverance #1 Well Update

Bahamas Petroleum Company, the oil and gas exploration company with significant prospective resources in licences in The Commonwealth of The Bahamas, wishes to provide the following update in relation to the timing for the drilling of Perseverance #1, its first exploration well in The Bahamas.Key Points· As a result of…


Africa Energy Reports 2019 Year End Results

Africa Energy Corp.( TSX Venture: AFE) (Nasdaq First North: AEC) ("Africa Energy" or the "Company"), an oil and gas company with exploration assets offshore South Africa and Namibia, announces financial and operating results for the year ended December 31, 2019. View PDF Version.Garrett Soden, the Company's President and CEO, commented:…


CNOOC Production and Reserves Hit Record High Net Profit and Dividend Significantly Increased

CNOOC Limited (the “Company”, SEHK: 00883, NYSE: CEO, TSX: CNU) announced its 2019 annual results for the year ended December 31, 2019.In 2019, CNOOC Limited has achieved remarkable results, with multiple operating indicators reached a record level since its listing. Total net oil and gas production of the Company amounted…


Lundin Petroleum CEO letter to Shareholders

Alex Schneiter, President and CEO of Lundin Petroleum AB (Lundin Petroleum) has written an open letter to shareholders in regard to current market conditions, measures taken to mitigate any impact from the current Covid-19 pandemic on operations and the resilience of the Company’s strategy and business model to low commodity…


Teekay Offshore Partners L.P. changes its name to Altera Infrastructure L.P. as part of global group rebranding initiative

Teekay Offshore Partners L.P. (the “Partnership”) announced that its name has changed to Altera Infrastructure L.P. effective 24 March 2020. The Partnership announced that the group of entities comprising of the Partnership’s affiliates and subsidiaries (formerly referred to as Teekay Offshore) (the “Group”) is rebranding to Altera Infrastructure.


3D Oil Limited nears completion of farmout of T/49P to ConocoPhillips Australia

3D Oil and ConocoPhillips Australia sign Joint Operating Agreement to satisfy a key condition of the farmout of T/49P 3D Oil to receive cash payment of A$5 million 3D Oil to reduce equity to 20% to minimize ongoing operating costs ConocoPhillips Australia to acquire at least 1580 sq km of…


Hurricane Energy plc ("Hurricane" or the "Company") Operational Update

Hurricane Energy plc, the UK based oil and gas company focused on hydrocarbon resources in naturally fractured basement reservoirs, provides an operational update following recent developments in the UK government response to COVID-19.Capital Markets Day 2020 PostponementThe Company had been due to host a Capital Markets Day ("CMD") on 25…


Message from the OGA Chief Executive

As the COVID-19 pandemic continues to impact on our way of life, the economic impact, combined with a significant fall in the commodity price, has hit the UK oil and gas industry hard.The Oil and Gas Authority (OGA) is firmly focused on its role of working with industry and government…


FAR update

FAR Limited (ASX: FAR) has implemented plans to ensure business continuity and preserve the Company’s cash (~A$150M at end of February 2020) in the wake of the COVID-19 pandemic and recent crash in oil price.The FAR board recognises that this is an extraordinary business climate that is affecting FAR’s ability…


INEOS to postpone shutting down of Forties Pipeline System (FPS) until August at the Earliest

INEOS FPS has responded to requests from customers and delayed its planned summer shut down of the Forties Pipeline SystemThe decision has been taken in the face of the growing Corona Virus pandemic and the need to avoid bringing together large numbers of peopleINEOS will continue to work with our…