Drilling & production - 22 July 2016

Hexion’s Oilfield Technology Group has announced the release of new resin coated proppants that are produced in Canada.

Primary energy consumption fell slightly in 2015, as a decline in coal use exceeded increases in natural gas, petroleum and renewables use.

According to the US EIA, Higher and more stable crude oil prices are contributing to increased drilling in the United States.

Contango Oil & Gas Company is purchasing approximately 12 100 gross undeveloped acres for up to US$25 million in the Southern Delaware Basin of Texas.

ExxonMobil has announced it will acquire InterOil in a transaction worth more than US$2.5 billion.

The partnership will see Ulterra purchased from ESCO Corporation.

Hoover Container Solutions’ Chairman and CEO, Donald Young, has been nominated and elected to the Petroleum Equipment & Services Association Advisory Board for a 3 yr term.

Total petroleum deliveries in June moved up by 2.8% from June 2015 to average 20.1 million bpd, the highest June deliveries in nine years.