Conventional Discoveries Outside North America Lowest Since 1952, IHS Says.Volumes for conventional O&G discoveries made outside of North America have continued their multi-year decline, and the results are dramatic – just 12 billion BOE (includes natural gas) estimated recoverable resources were discovered in 2015, a record low since 1952. [Oilpro]
Oil Prices Little Changed As Dollar Gains, U.S. Drawdown Seen. Oil prices were little changed in thin early Asian trade on Tuesday as a firmer dollar weighed on oil markets while a likely drawdown in U.S. crude and gasoline stockpiles pointed to stronger demand ahead of the U.S. summer driving season. [Reuters, Oilpro]
U.S. Remained Top Global O&G Producer In 2015, EIA Says. Since 2011, the EIA says, the U.S. has been the top global producer of natural gas. Since 2013, the country has been the top global producer of petroleum hydrocarbons. U.S. oil and natural gas production first surpassed Russia in 2012. [Oilpro]
Freeport McMoRan Cancels Plans For IPO Of O&G Unit... Freeport-McMoRan hascancelled its plans to issue an initial public offering for its oil and gas division- Freeport McMoRan Oil & Gas. On Friday, FM O&G filed a request with the SEC requesting the immediate withdrawal of the registration filed last June. [Oilpro]
...& Terminates Rowan Contract. Offshore drilling company Rowan has said that it hasreached an agreement with Freeport-McMoRan over the contract termination for a drillship. [Splash 247, Oilpro]
French Labor Dispute: Strike Strike Hits All 8 Refineries. A strike over new labour laws has spread to all of France's eight oil refineries, the CGT union says, in an escalating dispute with the government. An estimated 20% of petrol stations have either run dry or are low on supplies. [BBC News]
Diminished Threat Of Alberta Wildfires To Key Oil Sands Sites Prompts Lifting Of Evacuation Order. The Alberta wildfires not yet contained, but the diminished threatthey pose to oil worker camps north of Fort McMurray prompted authorities to green-light the return of the individuals who were ordered to evacuate the region last week. [Oilpro]
'New Age' For Oil Prompts Citi To Raise 2017 Forecast To $65. The worst is over for the beaten-down oil market, as a slowdown in production is setting prices up for a steeper rebound than predicted at the beginning of the year, Citigroup has said. [MarketWatch]
Chesapeake Issues Equity... Chesapeake has entered into privately negotiated purchase and exchange agreements under which it has and will exchange shares of the Company’s common stock for certain of its outstanding senior notes. [Chesapeake Energy]
...& Settles Royalty Dispute With Total. Chesapeake Energy and Total E&P USA agreed Monday to pay $52.5 million to 13,000 people who claimed their royalties have been underpaid for leases in the Barnett Shale. [Dallas Morning News]
ABERDEEN, Scotland -- Sparrows Group has been awarded a 20-month inspection services contract to cover Stena Drilling’s global fleet of drilling vessels.
The agreement will see the company deliver LOLER lifting gear surveys, potential dropped objects surveys, cargo carrying unit (CCU) and non-destructive testing (NDT) inspections as well as rig specific maintenance.
The company previously held a similar contract with Stena for an eight-year period.
“In today’s low oil price environment it is more important than ever to ensure inspection and maintenance is carried out effectively to avoid costly emergency repairs,” Stewart Mitchell, CEO of Sparrows Group, said.
HOUSTON -- InterAct, an Acteon company, has been awarded a contract with a major West Coast operator to provide well integrity management and engineering services for three gas fields in California.
The scope of the contract includes the creation of individual wellbore diagrams and evaluation against current standards, along with conceptual site models to identify theoretical leak paths and classify wellbore risk factors. To comply with the state’s Underground Injection Control (UIC) program regulatory requirements, the reservoir will also be analyzed to determine reserve estimates and further characterized as required.
Nick Arbour, senior petroleum engineer and project manager, said, “Our ongoing focus on well integrity management, combined with our cost efficient approach, has resulted in a significant contract win, which represents an important addition to the InterAct project portfolio. With our team of highly skilled engineers, geologists, and computer scientists, InterAct is able to provide a complete integrity management solution that fully satisfies both the client and regulatory requirements.”
InterAct’s Integrity Management and Engineering (IME) Division offers solutions across the entire asset integrity lifecycle for wells, pipelines and facilities; delivering cost-effective and long-term benefits to our clients. InterAct can provide a dedicated team of subject matter experts who are able to advise on all phases of Integrity Management and Engineering from initial conception through design, installation and commissioning to operations and finally decommissioning. InterAct also provides teams of engineers to be based onsite, in-country to initiate and audit integrity management programs and provide independent inspections and third party verification for regulatory requirements.
Decmil Group Ltd. (Decmil or Company) disclosed Tuesday that a wholly owned subsidiary, Decmil Australia Pty Ltd. (DA) has secured a new two year Framework Agreement with QGC Pty Ltd. (QGC) (being a wholly owned subsidiary of BG Group) for brownfield Projects within the Surat Basin in Queensland, Australia.
The Framework Agreement will span the remainder of 2016 and to April 2018 and the scope includes the provision of construction activities, structural, mechanical and piping (SMP) services across a number of QGC's brownfield projects.
DA has been working with QGC in the Surat Basin for the past five years under a contract that involves the installation of wellheads and its entry into brownfield services for QGC is an extension to the existing relationship DA has with QGC.
AUSTIN, Texas --- Parsley Energy已经签订一项收购合同。根据合同规定，Parsley Energy将以2.805亿美元现金收购大约30,000英亩租地的采矿权，该地区包括Parsley租地和其他位于Southern Delaware 地区Pecos、Reeves和Texas的一些邻近资产。
此次交易将于2016年7月14日完成，在收购公告中，Parsley表示计划通过借款和发行股票来筹集资金。
Parsley今年还以900万美元的价格收购了Parsley在Pecos和Reeves Counties的租地的附加开采权，该地区净面积达885英亩，此次交易于2016年5月10日完成。
Parsley Energy首席执行官Bryan Sheffield表示：我们很看好这次被购资产的前景，这次收购是充分释放Parsley 旗下Southern Delaware资产价值的重要一步。石油圈原创www.oilsns.com
来自/World Oil 5月24日消息 编译/赵宁
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AUSTIN, Texas -- Parsley Energy has entered into an agreement to acquire mineral rights under approximately 30,000 acres consisting of Parsley leasehold and other adjacent properties in Pecos and Reeves Counties, Texas, in the Southern Delaware basin for $280.5 million in cash.
The proposed transaction is scheduled to close by July 14, 2016. Parsley intends to finance this acquisition through debt and equity issuances announced concurrently with the announcement of the acquisition.
Parsley also announced the purchase of additional working interests in the company's leasehold in Pecos and Reeves Counties totaling 885 net acres for $9.0 million in cash. This transaction closed on May 10, 2016.
"The pending minerals acquisition encompasses what we view as very promising portions of Parsley's Southern Delaware acreage and represents an important step toward unlocking the full value of Parsley's Southern Delaware assets," stated Bryan Sheffield, CEO of Parsley Energy.
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Faroe Petroleum, the independent oil and gas company focusing principally on exploration, appraisal, development and production opportunities in Norway and the UK, is pleased to announce the commencement of the Faroe-operated Brasse exploration well 31/7-1 in the Norwegian North Sea (Faroe 50%).
The Brasse prospect is located immediately south of the producing Brage oil field (Faroe 14.3%) and, if successful, could be tied-back to the Brage facilities or alternatively to other nearby installations. The well will target the Jurassic aged sandstones in a four-way dip-closed structure with a total vertical depth of approximately 2,750 metres in the Early Jurassic Statfjord Formation.
The water depth at the site is 118 metres and the well will be drilled using the semi-submersible Transocean Arctic drilling rig. The co-venturer in the PL740 licence is Core Energy AS (50%).
Graham Stewart, Chief Executive of Faroe Petroleum commented:
'I am pleased to announce the spudding of the Faroe-operated, Brasse exploration well located in close proximity to our producing Brage oil field. This is a near field exploration target which provides significant upside potential to Faroe, in one of our core areas. On a post-tax basis the well is expected to cost Faroe less than ￡2 million.'
35/8-6 A井由Borgland Dolphin半潜式钻机进行钻探。目前，该井在Wintershall Norge AS经营的北海248 F区块的35/11-19 S正进行初探工作。石油圈原创www.oilsns.com
来自/RigZone 5月23日消息 编译/张弘引
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Wintershall Norge AS, operator of production license 248, has made a small oil discovery near the Vega field in the North Sea.
Well 35/8-6 A encountered a 10-foot oil column in the Heather formation with poor reservoir quality. Preliminary estimates concerning the size of the discovery range between 0.2 and 1 million standard cubic metres of recoverable oil. The well has now been permanently plugged and abandoned.
Well 35/8-6 A was drilled by Borgland Dolphin (mid-water semisub), which is now heading to production license 248 F in the North Sea to drill wildcat well 35/11-19 S, which is operated by Wintershall Norge AS.
PARIS -- Air Liquide has announced that it completed the acquisition of Airgas, Inc., a supplier of industrial gases and associated products and services. The combined businesses will generate annual sales of more than $22 billion, employ approximately 68,000 people around the world, and serve well over three million customers and patients.
Under the terms of the merger agreement, first announced and unanimously approved by each company's board of directors in November 2015, Airgas shareholders receive $143 in cash for each share of common stock of Airgas. In connection with the merger, the Airgas common stock has been delisted from the New York Stock Exchange. Airgas will operate as a subsidiary of Air Liquide within the company’s U.S. operations and, commercially, will go to market as Airgas, an Air Liquide company.
DEA is awarded a 30% share in the licences PL609C and PL851 in partnership with Lundin Norway (operator) and Idemitsu Petroleum Norge.
“These two licences are close to the Alta discovery and give us the opportunity to further explore in a prospective area”, says Exploration Manager of DEA Norge, Svend Erik Pettersson.
“DEA has long-term ambitions in Norway. The licences contribute to our goal, to further optimise and develop DEA’s portfolio on the Norwegian Continental Shelf”, says Hans-Hermann Andreae, Managing Director of DEA Norge.
In Norway, DEA currently has interests in 71 licences and a daily production of more than 70,000 barrels of oil equivalent (2015). Furthermore, DEA operates the Zidane discovery, where a PDO is planned to be submitted this year. The company also participates in other promising discoveries and developments. DEA has been present on the NCS for over 40 years.
Wood Group has been awarded an evergreen master services agreement (MSA) by Statoil to support the life cycles of its offshore and onshore facilities. Work and services covered by the MSA include engineering studies, detailed engineering, procurement services and management assistance services.
'This MSA reflects Wood Group's strong relationship with Statoil,' stated Robin Watson, chief executive. 'We look forward to leveraging our global knowledge and expertise to provide Statoil with the best technical services for its facilities.'
Wood Group has supported Statoil for many years. Recent work includes four subsea contracts, support for the Statoil Technical Efficiency Programme (STEP), and providing maintenance and modification services to four installations on the Norwegian continental shelf (NCS).
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Oil Falls Early Monday As Iran Firm On Export Rise, U.S. Rigs Decline Slower. Brent crude prices fell for a fourth consecutive session on Monday as investor focus returned to global supply, with Iran insisting on a rise in oil exports and U.S. drillers slowing the reduction in rigs. [Reuters]
US To Streamline LNG Export Process. An improved, quicker process of getting US-produced liquefied natural gas (LNG) shipments to foreign markets took a step closer to reality with the House of Representatives passing a defence-related bill that includes LNG provisions. [Splash 247, Oilpro]
Canada Seeks to Resume Production After Fire. Municipal authorities in Alberta, citing improved conditions late on Friday, lifted mandatory evacuation orders for seven oil-sands worker camps and production facilities, including Suncor’s base plant mine and Syncrude’s Mildred Lake operation. [Bloomberg]
North American Oil And Gas Bankruptcies Rise Above 70. A number of new oil and gas bankruptcies has been announced in recent days, pushing the total number in North America above 70, while others start to emerge from bankruptcy protection. [Oilpro]
Africa’s Busiest Oil Industry Is Running Hard to Stand Still. Algeria has more drilling rigs than the rest of Africa combined, yet oil production still isn’t recovering after years of decline. It’s little wonder the nation remains one of the most vocal supporters of action to increase prices by curbing output at the OPEC meeting next month. [Bloomberg]
Texas Supreme Court Rules In Favor Of Schlumberger In Trade Secrets Case. The Texas Supreme Court ruled on Friday in favor of Schlumberger subsidiary M-I SWACO in a trade secrets dispute involving a National Oilwell Varco employee who had previously been one of MI-SWACO's business development managers. [Oilpro]
Morgan Stanley: Oil Discoveries Sink To Lowest Since 1952. il discoveries in 2015 fell to their lowest since 1952 as energy companies slashed exploration budgets in the wake of the oil price fall, creating a gap for meeting future demand, analysts at Morgan Stanley said on Monday. [Fiscal Times]
Hyundai Heavy Industries To Exit Offshore Plant Construction. In a huge change of direction for the world's largest shipbuilder, local media in South Korea is reporting under pressure Hyundai Heavy Industries (HHI) has decided to ditch offshore plant construction. [Splash 247, Oilpro]
Construction Begins On $3.8bn Bakken-To-Illinois Dakota Access Pipeline.Construction has begun on the $3.8 billion, 1,150-mile Dakota Access Pipeline, which will move oil from North Dakota's Bakken shale play to Illinois. [Oilpro]
Woodside Mulls Myanmar Gas Development Options, Plans Further Drilling. Woodside is considering development options on its two discoveries offshore Myanmar, as well as a 4-7 well drilling campaign next year, the firm said this morning. [oedigital.com, Oilpro]
Meet Future O&G Geologist, Andrew Armstrong, #HUMANSofOG. "I hope to be able to bring the skills I have learned in mining to the oil and gas industry one day as I like howthe oil biz has operations in all types of locations and environments and the oil and gas people seem to have such a great, tight knit community." [Oilpro]
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英国公司Subsea 7发布消息称已和Beatrice Offshore Windfarm签订一项价值超过10亿美元的合同。根据合同规定，Subsea 7将为Beatrice 在苏格兰海域的风机基础和电缆系统提供工程设计、采购、施工和安装（EPCI)服务。
Subsea 7将和Seaway Heavy Lifting合作，为84个风力涡轮机提供项目管理、设计以及安装服务；并对海上传输模块进行安装和运输。
海上安装活动将在2017年和2018年进行，届时将启用Seaway Heavy Lifting旗下的Stanislav Yudin号和Oleg Strashnov起重船。
Subsea 7首席执行官Jean Cahuzac表示：迄今为止，这项海上风力发电场项目合同是Subsea 7在North Sea获得的最大订单，Subsea 7和Seaway Heavy Lifting在各自的领域都声誉颇高。这项合同的签订是对两家公司合同执行能力的认可，并且对Seaway Heavy Lifting而言，这是在海洋可再生能源市场上成为顶尖EPCI承包商的重要一步。石油圈原创www.oilsns.com
来自/Splash247 5月23日消息 编译/赵宁
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UK-based Subsea 7 has announced that it has been awarded a contract with over $1bn by Beatrice Offshore Windfarm for the engineering, procurement, construction and installation (EPCI) of the Beatrice wind farm turbine foundations and array cables, offshore Scotland.
Subsea 7, in alliance with Seaway Heavy Lifting, will project manage, design, engineer, fabricate and install EPCI jacket foundations and array cables for 84 wind turbines, and perform the transportation and installation of the offshore transmission modules.
Offshore installation activities will be executed in 2017 and 2018 using Seaway Heavy Lifting’s heavy-lift vessels, Stanislav Yudin andOleg Strashnov.
“This offshore wind farm project is our largest North Sea award to date. Subsea 7 and Seaway Heavy Lifting have a strong reputation in their respective areas of expertise. This contract recognises both companies’ capability to execute contracts safely, on time and within cost targets and is another major step forward in establishing Seaway Heavy Lifting as a leading EPCI contractor in the offshore renewables market,” said Jean Cahuzac, Subsea 7’s chief executive officer.
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SDX Energy公布了Al Amir SE 24 (AASE-24)号开发井的最新消息，该井位于North West Gemsa，SDX Energy持有该地区10%的开采权益。Al Amir SE 24号开发井检测到了重要储油层。
AASE-24号井深度达9,925英尺，检测到了Shagar和Rahmi油藏。测井分析表明Shagar产油层有效厚度达15英尺，Rahmi产油层有效厚度达7英尺。该井已经转变为生产井，每日可产1,714桶油，还有306.2万标准立方英尺的伴生气。该井已和现有工厂连接起来，并将尽快开始生产作业。
SDX Energy首席执行官表示：AASE24号井的生产能力强，是今年在该油田钻的第二口开发井。在2016年，SDX Energy将保持8,000当量桶/日的石油产量。石油圈原创www.oilsns.com
North West Gemsa位于Gulf of Suez的西边，Cairo东南方向大约300千米处。
来自/Your Oil and Gas News 5月23日消息 编译/赵宁
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SDX Energy has provided the following update on the recently completed Al Amir SE 24 (AASE-24) development well in North West Gemsa, where SDX Energy has 10% working interest. The well encountered significant oil bearing reservoir sections in both the Kareem Rahmi and Shagar formations and has been completed as a producer in the Shagar.
Al Amir SE-24 Well:
AASE-24 was drilled to a depth of 9,925 feet where both the Shagar and Rahmi oil reservoirs were encountered. Log analysis indicates 15 feet of net Shagar oil pay and 7 feet of net Rahmi oil pay. The well has been completed as an oil producer in the Shagar and has flowed on test light 43.6° API oil at an average rate of 1,714 BOPD with 3.062 MMSCFD of associated gas. The well has been connected to the existing facilities and it will be placed on production immediately.
Commenting, Paul Welch, CEO of SDX Energy, said:
'The AASE24 well is expected to be another strong producer from the Shagar and is the second of two successful development wells to be drilled in the field this year. The results of these two development wells combined with a 9 well work-over program, which his currently underway, will allow us to maintain production at a plateau rate of 8,000 Boepd for the remainder of 2016.'
About North West Gemsa
The North West Gemsa concession is located onshore on the west side of the Gulf of Suez, approx. 300 km southeast of Cairo. Two main oil fields are producing light oil, the Al Amir SE field along with the Al Ola extension to the south and the Geyad field to the north. SDX has a 10% working interest in the North West Gemsa Concession.
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马来西亚当地媒体The Edge报道称：Malaysian Bulk Carriers (Maybulk)公司决定出售两艘散货船。
被售船只为Alam Padu号（87,000载重吨）和Alam Muni号（53,000载重吨），而Maybulk不久前刚以680万美元的价格将旗下Alam Pesona号（87,000载重吨）出售给希腊船东Navitas Compania Maritima公司。
目前，Maybulk拥有24艘船，其中有21艘散货船和3艘油轮。2015年，Maybulk首次遭遇亏损，年亏损11.8亿吉特（2.8214亿美元）。石油圈原创www.oilsns.com
Maybulk表示：中国将进一步减少进口海运煤炭，对于散货航运商而言，2016年将会充满挑战。
来自/Splash247 5月23日消息 编译/赵宁
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Malaysian Bulk Carriers (Maybulk) has put two bulk carriers for sale, Malaysian local mediaThe Edge has reported.
According to industry sources, Maybulk is now in talks to sell 87,000dwt Alam Padu and 53,000dwt Alam Muni, hot on the heels of the reported sale of 87,000dwt bulker Alam Pesona for $6.8m to Greek shipowner Navitas Compania Maritima.
In March, Maybulk suffered its first ever annual loss, reporting a loss of MYR1.18bn ($282.14m) for the year of 2015.
“2016 is expected to be yet another challenging year for dry bulk shipping. Looking forward, China’s seaborne coal imports are expected to decline further in 2016. The increase in demolition activity, reduced dry bulk deliveries and increasing lay-ups should help to reduce tonnage overcapacity,” the company said.
Maybulk currently has a fleet of 24 vessels, made up of 21 bulk carriers and three tankers.
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海上钻井承包商Seadrill公司收到通知：Statoil决定终止West Hercules号半潜式钻井平台租赁合同。
Seadrill表示：West Hercules号半潜式钻井平台由韩国Daewoo Shipbuilding & Marine Engineering (DSME)公司制造于2008年，属于超深水半潜式钻井平台。2013年开始为Statoil在Barents Sea地区进行钻井作业，该合同有效期4年。
根据合同规定，Seadrill将一次性收到6100万美元的酬金，还有日工资以及由于钻井平台被遣回所引起的赔偿金。目前，West Hercules号半潜式钻井平台正在等待新任务。
此外，ExxonMobil最近也终止了和Seadrill所签订的钻井船合同，该合同原本截止日期为2017年4月。石油圈原创www.oilsns.com
来自/Offshore Energy Today 5月23日消息 编译/赵宁
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Offshore drilling contractor Seadrill has received another notice of termination for convenience from the current operator related to the contract for the West Hercules semi-sub rig.
According to Seadrill, the 2008-built West Hercules was originally contracted for drilling in Norway with North Atlantic Drilling who took over management of the rig in 2012.
West Hercules started up drilling operations for Statoil in the Barents Sea on a four-year assignment in 2013.
In accordance with the contract, Seadrill will receive a lump sum payment of approximately $61 million, plus dayrate and reimbursement of costs associated with demobilization of the rig which is currently being marketed for new work, Seadrill said.
West Hercules is an ultra-deepwater harsh environment semi-submersible drilling rig built by South Korea’s Daewoo Shipbuilding & Marine Engineering (DSME).
Seadrill also recently got a notice of termination for a drillship contract it had ExxonMobil. The rig’s contract with ExxonMobil in Nigeria was to expire in April 2017.
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Occidental Petroleum (OXY) are about to announce they are taking over Apache Corporation in a deal thought to be worth at least $25 Billion. Apache Corporation are expected to announce the takeover to their staff shortly.
Occidental Petroleum (OXY) is a US-based oil & gas company producing over 650,000 barrels of oil equivalent per day (boe/d). The company is unique; it has a dominant domestic position in the Permian Basin and holds other large producing assets in the Middle East and Latin America.
In 2015, 67% of the company’s revenue came from oil & gas production and 33% came from its chemicals and midstream and marketing businesses. The company owns a large network of midstream gathering and transportation pipelines in the heart of the Permian Basin through its subsidiary Centurion Pipeline.
Apache is a perfect fit for OXY as they look to focus on the North American market. The companies have a similar production profile in terms of liquids production.
Apache Corporation, incorporated on December 6, 1954, is an independent energy company. Both domestically in the US and internationally, the Company explores for, develops and produces natural gas, crude oil and natural gas liquids. The Company has exploration and production interests in four countries: the United States, Canada, Egypt, and the United Kingdom (North Sea). Apache also pursues exploration interests in other countries.
North America
Apache’s North American assets are primarily located in the Permian Basin, the Anadarko basin in western Oklahoma and the Texas Panhandle, Gulf Coast and the offshore Gulf of Mexico areas of the United States, and in Western Canada. The Company has access to liquid hydrocarbons across its approximately 10.7 million gross acres onshore in the United States and Canada. Approximately 55% of this acreage is undeveloped. Additionally, 58% of Apache’s production and over 72% of its estimated proved reserves are in the United States and Canada onshore regions. Its Permian region controls over 3.3 million gross acres with exposure to various plays across the Permian Basin. Apache has approximately 14,300 producing wells in over 160 fields, including over 60 waterfloods and over seven carbon dioxide (CO2) floods. Apache’s MidContinent/Gulf Coast region holds approximately 2.8 million gross acres and includes over 3,400 producing wells primarily in western Oklahoma, the Texas Panhandle, and south Texas.
Apache drilled or participated in drilling approximately 130 wells. Apache is active in the Woodford-SCOOP play in Central Oklahoma targeting the Woodford formation, where the Company drilled or participated in drilling over 30 wells. The Company holds over 3.6 million gross acres across the provinces of British Columbia, Alberta, and Saskatchewan. Its Canadian region provides approximately 13% of Apache’s production and holds approximately 280 million barrels of oil equivalent (MMboe) of estimated proved reserves. Apache primarily markets its North American crude oil to integrated oil companies, marketing and transportation companies, and refiners.
International
Apache’s international assets are located in Egypt and offshore of the United Kingdom in the North Sea. Its international assets contribute approximately 40% of its production. Approximately 28% of its estimated proved reserves are located outside North America. The Company holds over 6.7 million gross acres in over 20 separate concessions. Approximately 73% of its acreage in Egypt is undeveloped. The Company drilled approximately 100 development and over 20 exploration wells. Apache has made two discoveries in the area, the K and Corona discoveries. The K discovery encompasses multiple commercial zones across over three distinct fault blocks, including one fault block. The Corona discovery logs approximately 225 feet vertical depth net pay in reservoir-quality sandstone. Apache has working interests in K and Corona.
November 2015 – Anadarko Bids for Apache
Apache has been approached by an acquirer before; in November 2015, it was disclosed that Anadarko Petroleum (APC) was in preliminary talks to acquire Apache. As APA shares rose 35% to $50 per share, the offer was rejected and Anadarko withdrew its bid, claiming APA was now fairly valued. The rise in share price did not come from the takeover rumour. In reality, the results from Apache’s tier one offshore play in the North Sea were what pushed the share price.
A spokesperson for Apache would only comment to say: “Apache does not comment on M&A market rumors”. Given the opportunity to deny our reports the spokesperson advised us that we could use the above comment.
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Worldwide job losses in the oil and gas industry have just topped 350,000. As of May 6, announcements of reductions in force reached 351,410 globally, according to Graves & Co. The impact of layoffs has been most severe in the oilfield service sector of the industry, with 152,015 layoffs, or over 43% of the total worldwide.
Layoffs in the upstream exploration and production (E&P) sector of the oil and gas industry began slowly, and for many months were much lower than the service, drilling and supply sectors. In recent months, job cuts in the E&P sector have surpassed those in the drilling contracting and supply sectors, reaching 80,265, or just under 23% of total layoffs, while drilling and supply now represent 15% and 14.5%, respectively.
“For a long time, job cuts in the E&P sector lagged behind the oilfield service, drilling and supply sectors as oil and gas producers attempted to hold on to important talent,” said John Graves, president of Graves & Co. “As the downturn has persisted beyond the expectations of many in the industry, the impetus to cut costs has significantly affected those responsible for finding, developing and producing oil and gas.”
The Graves & Co. job cuts count is based upon public announcements, WARN Act notices, and extrapolations from the Baker Hughes rig count. Begun in January 2015, the count includes announcements beginning in June 2014, the month that crude oil prices began a downward slide.
Graves & Co. provides transaction service and support to the oil and gas industry in the form of due diligence, asset evaluations, and advisory services.
石油圈