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| Chesapeake Energy Defies Skeptics
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| Tuesday, January 6, 2009 -Chesapeake capped a busy 2008 with the $412 million sale of natural-gas production in Oklahoma and Arkansas, proving to skeptics that the company knows how to get a deal done. Total value of Cheasapeake's deals for 2008 is roughly $12 billion. |
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| Crude Hits One-Month Highs on Gas Spat
Jitters
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| Tuesday, January 6, 2009 -Crude oil futures climbed more than $2 to above the psychologically important $50 a barrel Tuesday, spurred by concerns that a reduction in Russian natural gas flows to Europe could spark an increased demand for oil. |
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| Gazprom Says Ukraine Blocked 3 Key Pipes to
Europe
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| Tuesday, January 6, 2009 -Ukraine blocked three key gas pipelines to Europe last night which means Russia's Gazprom cannot deliver gas to European nations, the company's Deputy Chief Executive Alexander Medvedev said on Tuesday. |
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| OPEC Cuts Biting Into Oil Cos' Output Growth
Areas
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| Tuesday, January 6, 2009 -Oil majors that derive a large part of their income from production from OPEC countries are finding the cartel's production cuts are hampering growth prospects in some of the most promising geographical areas. |
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| Petrobras to Restart Jubarte Production
Wednesday
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| Tuesday, January 6, 2009 -Brazilian energy giant Petrobras is expected to restart production Wednesday from the P-34 platform, which was shut-in after a fatal accident claimed the life of one worker and injured two others. |
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| Smart Money Moves Back into Energy, But
Carefully
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| Tuesday, January 6, 2009 -A pair of deals by Oklahoma billionaire George B. Kaiser, widely considered one of the country's savviest energy investors, could be an early sign that after a massive selloff, the smart money is getting back into the oil industry. |
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| API Cites '07 Drilling Expenditure Surge of
over $220B
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| Monday, January 5, 2009 -Oil and natural gas industry spending on drilling and equipping wells in the United States surged again in 2007, hitting an all-time record high of $226.4 billion, more than double the previous record of $109.8 billion set in 2006. |
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| China Filling Oil Reserves
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| Monday, January 5, 2009 -As the U.S. seeks to stockpile oil, China has been doing the same, observers say, and is expected to quicken the pace -- a development that already may be helping to boost oil prices. |
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| Iran Says OPEC to Hold Emergency Meeting in
February
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| Monday, January 5, 2009 -Iran's representative to OPEC said Monday that the organization would hold an emergency meeting in Kuwait in February. As part of OPEC's new plan, Iran will cut its crude oil output by 545,000 b/d in January. |
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| PGNiG Snags Stake in NCS License
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| Tuesday, January 6, 2009 -PGNiG is to acquire, free of charge, a 30% stake in PL350 license on the Norwegian Continental Shelf. |
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| Gastem Grabs Stake in Mundiregina's Utica
Permits
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| Monday, January 5, 2009 -Gastem, together with its partner Canbriam Energy, has signed a farm-in agreement for a total 85% working interest in both Mundiregina permits situated in the St. Lawrence Lowlands. |
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| Offshore Rig Review: Hindsight is
20-08
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| Monday, January 5, 2009 -Take a look back at the offshore drilling market in 2008 and where things have moved over the last year. Then, take a look ahead at the slowdown that appears to be looming. |
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| Admiral Bay's Production Up by 60% from 1Q
2008
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| Monday, January 5, 2009 -Admiral Bay has reported record production for the first quarter ended October 31, 2008. Average daily production increased by 60% over the first quarter of 2008. |
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| Blast Damages Fourth Western Canada Gas Well
Site
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| Monday, January 5, 2009 -Police are investigating what appears to be the fourth bombing of an EnCana Corp natural gas facility in the Western Canadian province of British Columbia, authorities said on Monday. |
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| Furmanite Minimizes Shell Eider A Platform's
Production Downtime
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| Monday, January 5, 2009 -Controlled bolting and machining services from engineering and technical services specialist Furmanite helped to keep a recent shutdown on schedule on the Shell Eider A platform, by ensuring leak-free joints for an on-time start up. |
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| Selmo Oil Field's Production Exits 2008 at
493,409 Barrels
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| Monday, January 5, 2009 -Incremental's wholly owned Selmo oilfield produced 493,409 barrels of oil in 2008, some 3% above forecast. The company has provided an update for its Turkey and the U.S. operations, which includes production development. |
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| Upstream Heavyweight to Lead BP
America
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| Tuesday, January 6, 2009 -Lamar McKay has been appointed Chairman and President of BP America, Inc. and will serve as BP's chief representative in the United States. |
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| Chesapeake Raises $412MM in Production
Deal
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| Monday, January 5, 2009 -Chesapeake said on Monday it raised $412 million from the sale of gas output and assets in the Anadarko and Arkoma basins to investors of Argonaut Private Equity. |
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| Particle Drilling's CFO Steps Down
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| Monday, January 5, 2009 -Particle Drilling announced that J. Chris Boswell has resigned from his position as Senior Vice President, Chief Financial Officer and Treasurer of the Company, effective January 2, 2009. |
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| Pemex Awards Contracts for Chicontepec
Drilling Pads
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| Monday, January 5, 2009 -In an effort to boost its drilling activity in Mexico's Chicontepec onshore region, state-run Pemex has awarded four contracts totaling $154 million for the construction of 344 drilling pads and access roads. |
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