Oil & gas news

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.

The Olympus Project will provide a regional viewpoint along one of the most prolific trends on the NW Shelf.

UK Oil & Gas Investments PLC has announced that it has acquired the entire 3.9% interest of Flowermay Limited (Flowermay) in onshore Weald Basin licences.

Petronas has awarded a Production Sharing Contract (PSC) to PTTEP HK Offshore Limited, KUFPEC Malaysia Limited (KUFPEC), and Petronas Carigali Sdn Bhd for the exploration Block SK410B.

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

Ocean Installer has been awarded a turnkey project for procurement and installation of a spread mooring chain system for a floating storage unit (FSU) in Malta.

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.