drilling | Egypt Oil & Gas - Part 27
BP to Pay $39m of Dana Gas’s Exploration Costs in Egypt
Dana Gas has signed an agreement for BP to pay for part of its exploration costs in the El Matriya onshore concession area in Egypt, the UAE firm said on Tuesday. BP will pay for up to $39 million of the cost of Dana&...
Bapetco Investing in New Wells to the Tune of $380 million
Emad Hamdi, Chairman Badr al-Din Petroleum Company (Bapetco), said his company will invest $ 380m during 2015-2016 to add new wells. This was to counter the natural decline of production rates and increase production,...
Despite Huge Find, Decreasing Prices Means No Drilling in Canada
The news was bittersweet for Canada’s Northwest Territories. While the region found out last week that its Canol and Bluefish formations hold Canada’s largest shale oil reserves, the slump in prices means no one’s dri... Shale Oil Producers to Ramp Up Drilling: Goldman Sachs
Shale oil producers, benefiting from lower costs, are expected to ramp up drilling activity if the price of U.S. oil stays near $60 a barrel, Goldman Sachs said. “We believe that should West Texas Intermediate p...
New Technology to Reach Depths of Gulf of Mexico
Baker Hughes may have just solved one of the major problems facing oil and gas development in the Gulf of Mexico. At the 2015 Offshore Technology Conference in Houston on Monday, Baker Hughes unveiled the result of tw...
Top US Shale Producer Betting on Oil Price Hike to Expand Drilling
EOG Resources Inc., the biggest shale producer in the U.S., will increase drilling activity as soon as oil prices stabilize at $65, anticipating a six-week long price rally will continue through the end of the year.Th...
Dana Gas Projects in Egypt Continuing Despite Oil Price Crunch
Sharjah-based Dana Gas reported lower sales and profit in the first quarter, as cost-cutting wasn’t enough to mitigate the effects of lower oil and gas prices, but senior executives see improvements ahead. Dana Gas, w...
Shale Stocks Drop as Major US Investor Criticizes Industry
Money manager David Einhorn slammed the shale drilling industry that ushered in a new era of U.S. oil production as wasteful, expensive and a terrible investment. Shale explorers including Pioneer Natural Resources Co...
