Diamondback Energy has entered into a definitive purchase agreement with an unrelated third party seller to acquire leasehold interests and related assets in the Southern Delaware Basin for an aggregate purchase price of $560 million, subject to certain adjustments. Upon completion, the pending acquisition will provide Diamondback with primarily operated leasehold interests, the majority of which are located along the Pecos River in Reeves and Ward counties, Texas.
ACQUISITION HIGHLIGHTS:
19,180 net surface Delaware primarily in Reeves and Ward counties
Approximately 1,000 boe/d of current net production based on data provided from the seller
Net proved developed reserves, based on internal estimates as of July 2016, were approximately 2.2 MMboe
290 net identified potential horizontal drilling locations across four zones with additional upside potential in other zones and through downspacing
Salt water disposal ("SWD") infrastructure and additional assets valued at $10 to $15 million
HOUSTON -- Baker Hughes has significantly expanded its ShopBakerHughes.com e-Commerce portal, which allows customers to purchase online the same products Baker Hughes uses in providing its oilfield services. In addition to the 1,600-plus products currently available on the website, over the next three months, the company is adding products from its Artificial Lift, Production Chemicals and Drill Bits product lines, as well as Reservoir Software to the online offerings.
The new products will provide the same engineering and manufacturing quality that is available with the existing online offerings from Baker Hughes, which includes its Completions and Wellbore Intervention, Drilling and Completion Fluids and Wireline Services product lines.
The e-Commerce portal is accessible 24/7 and offers convenient payment options, including payment by credit card. All of the items featured online typically ship within as few as seven days from purchase. Shipments are tracked and updates are provided to the customer by email throughout the order fulfillment process.
“In today’s climate of having to do more with fewer resources, e-commerce is a proven method of increasing efficiency and reducing costs for our customers,” said Utpal Ganguly, V.P., e-commerce at Baker Hughes. “Customers can search, select and complete a transaction in a matter of minutes and get the shipment at their desired location within a short timeframe.”
10. IOG将在Skipper用越洋半潜式平台钻探
Independent Oil and Gas公司（IOG）计划从7月22日开始在Skipper石油发现区钻探评价井，该区位于北海北部的区块9/21a，许可证编号为P1609。
来自/OilPro 7月14日消息 编译/郑雨晴
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Oil bounces after big losses but glut persists. Oil prices recovered more than $1 a barrel from sharp losses on Wednesday as the dollar eased but brokers said the downtrend could resume soon as record-high stocks and worries over slowing economic growth dampened sentiment. [Oilpro]
ONGC To Promote Discovered Small Fields. Road shows in Houston and Calgary will be held as part of process of promoting the Discovered Small Fields Bid Round 2016. [Oilpro]
Devon Energy Sells Pipeline Stake. Devon Energy Corp. said Thursday that it will sell its 50% ownership stake in Access Pipeline to Wolf Midstream Inc. for C$1.4 billion (US$1.1 billion). [WSJ]石油圈原创www.oilsns.com
Surprise U.S. gasoline stock build crimps refiner margins. U.S. gasoline and distillate stocks surged unexpectedly last week, data showed on Wednesday, crimping margins for refiners at the height of summer driving season, a time when they generally enjoy healthy demand and profits. [Reuters]
PDVSA financial report acknowledges US bribery allegations. Venezuela’s state oil firm Petroleos de Venezuela SA (PDVSA) has confirmed in an internal probe that there was fraud in the company’s procurement processes, according to Reuters. [Splash247, Reuters]
Marathon Sees First Gas From Alba. Marathon Oil Corp. has achieved first gas production through its new Alba B3 offshore compression platform off Equatorial Guinea. [Oilpro]
Keppel AmFELS Delivers Fifth Jackup To Perforadora Central. Uxpanapa is the the fifth jackup rig built by Keppel AmFELS for Perforadora Central and the second based on Keppel's proprietary KFELS B Class design. [Oilpro]
C&J Energy Services To File Chapter 11. The company said the move will allow it to substantially deleverage its balance sheet – eliminating approximately $1.4 billion of existing debt. C&J said it expects to continue operations throughout the restructuring process. [Oilpro]
IGas faces takeover threat. UK shale driller IGas Energy has been reported to be facing a potential hostile takeover as it struggles to overcome the various obstacles facing the country’s unconventional industry. [Newsbase]
IOG To Drill Skipper With Transocean Semi. Independent Oil and Gas plc (IOG) plans to drill an appraisal well on the Skipper oil discovery, which lies in Block 9/21a in license P1609 in the Northern North Sea starting on July 22. [Oilpro]
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Devon Energy has entered into a definitive agreement to sell its 50% ownership interest in Access Pipeline to Wolf Midstream Inc., a portfolio company of Canada Pension Plan Investment Board, for C$1.4 billion ($1.1 billion). The transaction is expected to close in the third quarter.
“With the highly-accretive sale of Access, Devon’s divestiture program is now complete with proceeds totaling $3.2 billion, surpassing the top end of our $2 billion to $3 billion guidance range,” said Dave Hager, president and CEO. “Furthermore, the divestiture proceeds significantly strengthen our investment-grade balance sheet and position us to further accelerate investment in our best-in-class U.S. resource plays.”
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LONDON (Bloomberg) -- Gulf Keystone Petroleum Ltd. creditors will take control of the oil producer after low crude prices and erratic export payments left the company unable to service debts.
Bondholders will get an 85.5% stake under a deal that will see more than $500 million of debt converted into equity, according to a statement on Thursday. The company, which drills in Iraq, also plans to raise as much as $25 million from selling new shares, and it named a new chairman.
Crude’s plunge to below $50/bbl and the Kurdistan regional government’s irregular payments for exports in recent years have pushed Gulf Keystone close to collapse. The company has $325 million of convertible bonds due October 2017 and $250 million of senior unsecured notes due April 2017, according to data compiled by Bloomberg.
“Without the restructuring and the improved liquidity delivered by the transaction, the company cannot avoid insolvency,” CEO Jon Ferrier said in the statement.
Share Slump
The London-based company’s largest shareholder, Capital Research & Management Co., has agreed to the deal, along with more than half of bond creditors, according to the statement.
Gulf Keystone’s shares plunged as much as 47% on Thursday to 2.5 pence and were at 3.5 pence as of 9:42 a.m. in London. They were at 15 pence at the start of the year and touched a high of 3.49 pounds in 2012.
It’s “an unfortunate conclusion for long-suffering equity holders,” Werner Riding, an analyst at broker Peel Hunt, said in a note to clients. “Crippling debt service costs were compounded by the low oil price environment and a complicated local and regional geopolitical situation.”
Keith Lough has taken over as non-executive chairman at Gulf Keystone, after being a non-executive director. He succeeds Andrew Simon, who has left the company.
The oil producer will seek approval from other bondholders to reduce total debt to $100 million from more than $600 million through UK courts, in a process known as a scheme of arrangement, according to the statement.
Under the plan, unsecured noteholders will get 65.5% of the company and retain $100 million of bonds, while convertible noteholders will own 20%. Existing shareholders will be diluted to a 5% stake and get the chance to purchase about 10% more through the capital increase, the company said. Any stock not bought by shareholders will be purchased by Capital Research, up to a limit of $20 million.
Houlihan Lokey Inc. advised a group of creditors in the negotiations, including GLG Partners, Sothic Capital Management and Taconic Capital Advisors, people familiar with the matter said in February.
Alba B3压缩天然气项目需在四个国家开展工程设计和建设工作。该项目由 Heerema Fabrication集团（HFG）担任总承包商，由赤道几内亚一家建筑公司承建平台火炬和结构框架。Marathon Oil全资子公司Marathon E.G. Production作为运营商持有Alba气田65%的股份，剩余35%由Noble Energy所有。
来自/Offshore Energy Today 7月14日消息 编译/赵美园石油圈原创www.oilsns.com
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Marathon Oil Corporation has achieved first gas production through its new Alba B3 offshore compression platform off Equatorial Guinea.
Production from the B3 platform allows Marathon Oil to convert approximately 130 million barrels of oil equivalent of proved undeveloped reserves, more than doubling the company’s remaining proved developed reserve base in EG, Marathon said in a press release on Thursday. “The Alba B3 compression project will allow us to maintain plateau production for the next two years, mitigating base decline, while extending the Alba Field’s life by up to eight years,” said Mitch Little, Vice President.
Execution of the Alba B3 compression project involved engineering and construction in four countries with Heerema Fabrication Group (HFG) serving as the general contractor. An Equatoguinean construction firm fabricated both the platform flare and bridge structures. Marathon Oil’s wholly owned subsidiary Marathon E.G. Production holds an approximately 65 percent working interest in the Alba Field and is the operator, while Noble Energy owns approximately 35 percent.
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Wood Group has been awarded a US $145 million, three year contract extension by Melbourne Water to provide services across their operational area from the Thomson Reservoir in the east to the Western Treatment Plant in the west of Melbourne, Australia. 石油圈原创www.oilsns.com
Effective immediately, Wood Group will continue to deliver mechanical, electrical, instrumentation, process control and civil maintenance services to Melbourne Water's water and sewage transfer and treatment facilities and their networks.
The contract employs approximately 250 people across a broad range of functions including administration, project management, engineering, through to technicians working in the field.
Wood Group has 19 years of experience delivering maintenance services to the water and wastewater sector in Australia; the company has been working with Melbourne Water since November 2012.
Robin Watson, Wood Group chief executive, said: "The extension of our contract with Melbourne Water is testament to our strong partnership with this key client and their confidence in our ability to deliver. We remain committed to working with them with a focus on enhancing productivity and maintaining a strong safety performance across their assets.
"Our work with Melbourne Water demonstrates our capabilities in offering integrated maintenance services to clients working in this market."
Oil prices drop on IEA Report. Record-high oil stockpiles continue to threaten "the recent stability of oil prices," even as the re-balancing of the global oil market is progressing, the IEA said [Oilpro]
Shale Drillers Adapting to Low Oil Prices, Report Finds. Shale drillers have cut the costs of producing new supplies of oil by as much as 40% in the past two years by pushing for lower rates from the firms that provide equipment such as rigs, pipes and other services. [WSJ]
Energy Lead All Sectors in US Q2 Market Growth Those in the oilfield would not know it, but the ML Energy Index was the top-performing industry group in the quarter, up 6.7% based on the oil price rebound... if you can call it that. [Bloomberg]
Cuban-Venezuelan Oil Refinery Shut Down. Cuba's 65,000-barrels-per-day (bpd) Cienfuegos refinery will be partially shut for 120 days this year due to maintenance and produce only minimum output, a top official at Venezuelan state oil firm PDVSA said on Tuesday. [Reuters]
Import terminals across U.S. lie idle; Boston’s is booming. Thanks to the shale revolution, the U.S. has plenty of natural gas of its own. All along the eastern seaboard, a chain of import terminals -- built when the country expected to get its fuel from abroad -- now lie idle. Except one. [Bloomberg]
Wood Group Extends North Sea Contract. Wood Group has been awarded an extension to its master service agreement (MSA) contract with Apache Corp. in the North Sea. [Oilpro]
Oceaneering Wins Heerema Contract. Oceaneering International Inc. has entered into a Master Service Agreement with Heerema Marine Contractors Nederland SE (HMC) through December 2020. [Oilpro]
OGA Awards Seismic Contracts. The UK Oil and Gas Authority (OGA) has awarded contracts for the second UK Government funded £20 million seismic campaign to promote underexplored areas of UK Continental Shelf (UKCS) [Oilpro]
Canadian Upstream Oil & Gas M&A. In June 2016, the total value of announced M&A deals in the Canadian E&P sector totalled Cdn$2.7 billion, according to CanOils' new report that looks at all upstream deals involving Canadian E&P companies in June. [Evaluate Energy & CanOils]
OPEC delegates show higher oil price desire. OPEC delegates say comments from top exporter Saudi Arabia, which two years ago led the group to drop its historic role of supporting oil prices, are a change in tone and a sign the kingdom is looking - verbally for now - to prop up the market. [Reuters]
MELBOURNE, July 14 (Reuters) - Australia's Woodside Petroleum has agreed to buy ConocoPhillips' deepwater stakes off Senegal, including one of the world's most promising recent oil finds, for $350 million.
The acquisition includes a 35 percent interest in the 560 million barrel SNE deep water oil discovery and the FAN oil discovery farther offshore, with Woodside gaining the option to become operator for development and production of the fields.
"We are taking advantage of our balance sheet to acquire a world-class asset that fits well with our capabilities, offers significant future upside in exploration and line-of-sight to near term oil production," Woodside Chief Executive Peter Coleman said in a statement.
The move is key for Woodside which is short of near term growth prospects after giving up multibillion dollar plans to develop gas off Israel, postponing plans to develop the Browse liquefied natural gas project off Australia, and being spurned in a takeover offer for Oil Search.
The fields' operator is currently Britain's Cairn Energy Plc, which owns 40 percent and is looking to sell down its stake.
Australia's FAR Ltd owns 15 percent of the fields and Senegal's state-owned Petrosen holds 10 percent.
Mermaid Maritime Public Company Ltd. reported Wednesday that its business unit Mermaid Subsea Services (Thailand) Ltd. (MSST) has clinched a contract, valued at approximately $5.8 million, to provide technical support service personnel to a national offshore oil and gas engineering, procurement, installation and commissioning company.
MSST has commenced work on the one year contract. It will provide subsea personnel including ROV (remotely operated vehicle) superintendents, supervisors, pilot/techs, installation engineers, HSE (health, safety and environment) managers, and project managers to support subsea inspection, repair, maintenance and installation works in brown and green field projects.
The deployment covers several countries in Asia and the Middle East, Mermaid Maritime said in the press release.
石油圈