Drilling & production

Statoil has reported adjusted earnings of US$857 million in the first quarter of 2016.

The contract will focus on the supply and rental of Liner Hanger products and services.

Both gross margins and earnings per share results exceeded have exceeded the company's expectations for the quarter.

The first-of-its-kind partnership agreement aims to strengthen the performance of the Iraqi energy sector.

The results show that BP is approaching its near-term goal of rebalancing its cash flows and maintaining a strong operational performance.

Peak Well Systems is a specialist in the design and development of advanced downhole tools for well intervention.

Peak Well Systems’ SIMULTRA retrievable bridge plug has received a V0 certification at 10 000 psi.

Husky Energy is to sell 65% of its ownership interest in select midstream assets in the Lloydminster region of Alberta and Saskatchewan to Cheung Kong Infrastructure Holdings Ltd and Power Assets Holdings Ltd.

Torchlight Energy Resources Inc. has announced that drilling has commenced on the next well in the Orogrande Project, the University Founders B-19 #1.

Ocean Rig UDW Inc. has announced that one of its subsidiaries has acquired the 6th generation ultra deepwater drillship Cerrado.

CNOOC Ltd has announced that the Panyu 11-5 oilfield has commenced production.

The contract, valued at approximately £3 million, will secure jobs for more than 9 people over the next three years.

The partnership will involve deepening their working relationship globally and an increased focus on providing best practice resources.

The organisation has published two new documents to aid in countering condition monitoring challenges.

Douglas-Westwood look ahead and examine the likely state of the oil price next year.