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  1. BHI: Land, oil rigs lift overall US rig count by 10 units

    Lifted entirely by onshore oil-directed units, the US drilling rig count jumped 10 units during the week ended July 1 for the second time in 3 weeks, tallying 431 rigs working, according to data from Baker Hughes Inc. The count has now risen in 4 of the past 5 weeks, gaining 27 units over that time ( OGJ Online, June 24, 2016 ). Since the overall drilling dive commenced following the week ended Dec. 5, 2014, the count has fallen 1,489 units. Amid the recent increase in drilling activity, the US Energy Information Administration this week noted that some 380,000 stripper oil wells were operating in the US at yearend 2015 compared with just 90,000 nonstripper oil wells. Stripper wells, which produce no more than 15 boe/d over a 12-month period, accounted for 10% of overall US crude oil production in 2015. Their share of output, however, was down nearly half from their 2008 level because of “the large increase of production volume from very prolific wells drilled in shale and tight oil formations with enhanced completion techniques,” EIA explained. The agency also reported that overall US crude production during the week ended June 24 fell 55,000 b/d to 8.622 million b/d, a year-over-year decline of 973,000 b/d. Oil rigs’ upward momentum The US oil-directed rig count now totals 341, a 25-unit increase since May 27. Compared with its peak in BHI data on Oct. 10, 2014, the total is now down 1,268 units. Following a 4-unit jump last week, gas-directed rigs in the US edged down a unit to 89. Land-based rigs also gained 11 units, now totaling 408. Rigs engaged in horizontal drilling rose 7 units to 332, up 18 since May 27. They’re now down 1,040 units since a peak in BHI data on Nov. 21, 2014. Directional drilling rigs fell 5 units to 38. Rigs drilling offshore US dropped 2 units to 19, their lowest count since Oct. 1, 2010, less than 6 months after the Deepwater Horizon incident. Since then, the offshore count peaked at 66 on Aug. 29, 2014, and Sept. 12, 2014. Rigs drilling in inland waters, meanwhile, gained a unit this week to 4. Contributing to shrinking offshore activity is Stone Energy Corp., which this week agreed with Ensco PLC to cancel the contract for the Ensco 8503 dynamically positioned deepwater drilling rig that was operating in the deepwater Gulf of Mexico ( OGJ Online, June 30, 2016 ). Canada’s rig count during the week sat unchanged at 76, reflecting a 1-unit increase in gas-directed rigs to 40, offset by a 1-unit decrease in oil-directed rigs to 35. One rigs considered unclassified remains operating. Canada’s recent upward momentum started earlier than that of the US, rising 40 units since May 6, the end of the spring thaw and resulting road restrictions. Texas, Oklahoma lead states Among the major oil- and gas-producing states, Texas and Oklahoma led the way each with 4-unit increases to 198 and 58, respectively. Texas has recorded a gain in 5 straight weeks, adding 25 units over that time. The Permian increased 4 units to 154, up 20 units since May 13. The Barnett rose a unit to 8, while the Eagle Ford dropped a unit to 33. Oklahoma’s count recouped last week’s losses in part because of a 2-unit rise in the Cana Woodford to 26. Colorado gained 2 units to 19, reflecting a 2-unit rise in the DJ- Niobrara to 14. Louisiana edged up a unit to 42. New Mexico and Alaska were the only states to post a decline, dropping a unit each to respective totals of 19 and 8. The Haynesville was the only other major basin to record a loss, falling 2 units to 17. Contact Matt Zborowski at matthewz@ogjonline.com .

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    Fri, 1 Jul 2016

  2. Senate to vote on new revenue-sharing bill

    US Senate leaders indicate they’ll support a vote later this year on legislation supported by industry groups changing how states share revenue from oil and gas produced on federal land.

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    Fri, 1 Jul 2016

  3. Oil and Gas News: North Dakota adopts rules to reduce oil industry spills

    North Dakota regulators on Wednesday adopted new rules aimed at reducing spills in the state's oil patch, despite objections by the industry.

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    Thu, 30 Jun 2016

  4. Tullow’s TEN project nears completion offshore Ghana

    The Tullow Oil PLC-operated Tweneboa-Enyenra-Ntomme (TEN) project offshore West Africa is now 96% complete and expected to begin oil production within 3-6 weeks. Nearby offshore Ghana, the firm is developing a long-term oil offtake solution at Jubilee field following an issue with the floating ...

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    Thu, 30 Jun 2016

  1. Tullow set to overhaul mooring arrangements for Jubilee FPSO

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    Thu, 30 Jun 2016

  2. IOG confirms July spud for North Sea Skipper well

    Independent Oil and Gas expects Transocean’s Sedco 704 semisubmersible to start appraisal drilling on the Skipper oil discovery in the UK northern North Sea during the second half of July.

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    Thu, 30 Jun 2016

  3. Oil and Gas News: Alaska could end to oil checks paid to residents since 1982

    As Alaska faces a multibillion dollar budget deficit, the oil fund wealth checks distributed yearly to nearly every Alaskan could be on the chopping block.

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    Wed, 29 Jun 2016

  4. Survey: Outlook improving for US Eleventh District oil, gas firms

    Oil and gas companies in Texas, southern New Mexico, and northern Louisiana reported improved business activity for the second quarter and thus a more positive outlook for the rest of the year onward, according to executives responding to a quarterly Dallas Federal Reserve energy survey.

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    Wed, 29 Jun 2016

  5. MARKET WATCH: NYMEX crude oil prices regain more than $1.50/bbl

    The light, sweet oil prices for August and September delivery each climbed more than $1.50/bbl on June 28 as traders and analysts switched their focus to world crude oil supplies after having fretted for the previous three sessions about the aftermath of the UK’s vote to leave the European Union.

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    Wed, 29 Jun 2016

  6. Industry groups slam new US royalty rule

    The US Department of the Interior has published a final rule that industry groups fear will enable federal officials to second-guess oil and gas values used in royalty calculations.

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    Fri, 1 Jul 2016

  7. Tangguh LNG partners reach FID for expansion in Indonesia

    Partners in the Tangguh production-sharing contract have taken a final investment decision (FID) for development of the Tangguh LNG expansion project in the Papua Barat province of Indonesia.

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    Fri, 1 Jul 2016

  8. Oil and Gas News: Alaska governor limits annual oil-wealth checks to $1,000

    Facing a multibillion-dollar deficit, Alaska's governor on Wednesday cut in half the annual checks that give all residents a share of the state's oil wealth, but he kept enough money in place to award everyone a $1,000 payout.

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    Thu, 30 Jun 2016

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