US Shale Producers Lose Price Bet
The majority of US shale oil and gas producers passed up the opportunity to hedge prices by guaranteeing at least $60/b last quarter, Reuters
Schlumberger Buys Cameron, Becomes Industry’s First Integrated Drilling and Production Company
Schlumberger has announced that it will buy oil services rival Cameron International for nearly $13b in cash and stocks,
GUPCO Expands Production After Field Developments
Egypt Oil & Gas (EOG) learned that GUPCO has drilled 3 new wells in its concession area in the Gulf of Suez by drilling three new wells – Hilal B1, Hilal B2 and EDFU A7 ; in addition to an exploratory well GS277-A5.
Circle Oil Renews Contracts for Tunisian Field
Irish oil producer Circle Oil recently renewed its contract for a Tunisian concession, The Irish Times
EGPC to Announce New Bid Round
Sources at the Egyptian General Petroleum Company (EGPC) informed Egypt Oil & Gas (EOG) that the company is preparing to issue a new bid round before the end of the year.
Israel Agrees to Mediterranean Field Deals
Israel’s cabinet has reached agreements with Noble Energy and Delek Holdings to increase gas production in the East Mediterranean fields of Tamar and Leviathan,
North Sea Shedding Assets, Employees
Oil and service companies operating in the North Sea are writing down assets and firing workers in an effort to lower production expenses,
Dana Gas Reports 85% Drop in Profit from Year Earlier
The UAE-based Dana Gas announced an 85% drop in profit compared to last year,
Bapetco Increases Production to 132,600 B/D, Adds 5M in Oil Reserves
The chairman of Badr El Din Petroleum Company (Bapetco), a joint venture between the EGPC and Royal Dutch Shell, recently announced the addition of exploratory well Bed3C6-1 to production, Daily News Egypt
