The U.S. Senate Tuesday rejected an attempt to expand offshore oil and gas drilling to allow the states to generate revenue.
The Republican-backed proposal would have allowed states to drill off their coasts and share revenues with the federal government, the (Newport News, Va.) Daily Press reported.
The amendment would have amended a federal ban prohibiting offshore [...]
Major oil companies “have their backs against the wall” when it comes to getting offshore drilling contracts, according to Dahlman Rose & Co. managing director Omar Nokta.
Nokta says Brazil’s national oil company, Petrobras, has aggressively locked up a significant amount of rig capacity. As a result, dayrates have been pushed to record levels.
“We expect the [...]
Brazil wants to join the Organization of Petroleum Exporting Countries to help lower global oil prices, the country’s president was quoted as saying in a leading German magazine.
Brazilian President Luiz Inacio Lula da Silva said in the interview with Der Spiegel that his country plans to exploit its massive offshore oil reserves to make itself [...]
Nelson-based company Green Gate has started drilling an onshore exploration well near Amberley in north Canterbury.
Widespread Energy, which has an 11.7 percent shareholding in Green Gate, said that the Kate-1 well was spudded in last night.
It was expected to be drilled to a depth of 1100m and, all going well, should be finished within two [...]
Transocean Inc., the world’s largest offshore oil drilling contractor, named Steven L. Newman president and chief operating officer.
Newman replaces Jon A. Marshall, the former chief executive of GlobalSantaFe Corp., who had been in the post for only a few months following Transocean’s acquisition of its smaller rival late last year. Marshall announced plans to retire [...]
The number of rigs actively exploring for oil and natural gas in the U.S. this week fell by three from the week before.
Of the 1,839 rigs running nationwide, 1,473 are exploring for natural gas and 357 for oil, according to Baker Hughes Inc., which tracks rig operations worldwide. Nine rigs were listed as miscellaneous.
A year [...]
