Basic Energy Services, Inc. (BAS) (“Basic”) today reported selected operating data for the month of November 2015. Basic’s well servicing rig count remained unchanged at 421. Well servicing rig hours for the month were 37,600 producing a rig utilization rate of 39%, compared to 44% and 67% in October 2015 and November 2014, respectively. During the month, Basic’s fluid service
American Midstream Partners, LP (AMID) (the “Partnership”) today announced that Steve Bergstrom, Executive Chairman, President, and Chief Executive Officer, retired from his position effective December 10, 2015. Mr. Bergstrom will continue to serve as a Director on the Board of Directors. Lynn L. Bourdon III has been appointed Chairman, President and Chief Executive Officer. Mr. Bourdon, 53, most recently served
NORTH TCHIBALA 2-H WELL ENCOUNTERED GOOD QUALITY SANDS AT A DEEPER HORIZON VAALCO Energy, Inc. (EGY) today announced that the North Tchibala 2-H well, the second development well drilled by VAALCO in the North Tchibala field, was brought online at a stabilized rate of approximately 500 gross barrels of oil per day (BOPD), or 122 BOPD net revenue interest to
Darren W. Woods has been elected president of Exxon Mobil Corporation (XOM) and a member of the board of directors, effective Jan. 1, 2016. The election of Woods, who is currently senior vice president of the corporation, was made during a meeting of the ExxonMobil board of directors on Wednesday. With the addition of Woods, the ExxonMobil board is comprised of
Management said 2016 volumes will rise by 1% to 3%, fueled by project startups in Alaska, Australia and Canada oil sands ConocoPhillips (ticker: COP) is ramping down its 2016 operations, with the majority of the pullback focused on North America. The 2016 guidance release, issued on December 10, 2015, outlines a capital budget of $7.7 billion – about 25% below
Website owners used to call them “hits” Today, we’ve become sophisticated. We call them “pageviews.” EnerCom launched Oil & Gas 360® – www.OilandGas360.com – in 2010. In the beginning, the numbers were bleak: Thursday, Jan. 14, 2010, pageviews = 0. The site was live, barely. Then, at 3:00 p.m. on Friday, Jan. 15, 2010, there was a spike of
Via Reuters U.S.-listed energy giants ConocoPhillips (COP.N) and Chevron Corp (CVX.N) plan to sell their interests in a key oil and gas block in Indonesia and the government has received written requests for the same, an energy ministry official said. Several companies have expressed interest in buying the stakes in the South Natuna Sea Block B, Upstream Oil and Gas
Via Bloomberg Russia is preparing for the possibility that low crude prices are here to stay as competition between oil and other fuels such as natural gas intensifies. The nation, which relies on oil and gas income for about half its government budget, sees no reason for crude to rise above $50 a barrel anytime soon and predicts it will
Via The Wall Street Journal Oil- and gas-producing companies have been sharply critical of the effort, fearing an increase in payments CALGARY, Alberta – The government of Canada’s oil-rich Alberta province on Thursday said it would delay the release of a controversial review of royalty rates paid by oil and gas producers until early next year. Alberta’s left-leaning government had
Via Platts The Western Canadian exploration-and-production industry is well-positioned to weather the current environment of low oil and gas prices, providing that politicians do not impose onerous tax and regulatory burdens on the industry, the CEO of an independent Canadian producer said Thursday. “I’m very positive on the Canadian oil and gas industry,” Andy Mah, president and CEO of Calgary-based
No oil and gas companies were in attendance for Major League Baseball’s winter meetings (baseball’s equivalent of Christmas with its free agent signings, discussions, swaps and trades), but two industry giants independently agreed to a swap of their own on December 11, 2015. Norway’s Statoil (ticker: STO) and Spain’s Repsol (ticker: REPYY) will trade acreage positions in a non-cash, straightforward
Draw on commercial stocks in October is not the start of a trend, but fears of reaching capacity are overstated: IEA The Organization of Economic Cooperation and Development saw commercial stocks of crude oil draw down for the first time in seven months, according to the International Energy Agency’s (IEA) December Oil Market Report. Commercial stocks stood at 2,971 MMBO
