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Wed, 17 Oct 2018 16:55:00 GMT
Noreco to buy Shell Denmark upstream unit for $1.9 billion

Norwegian Energy Co. ASA (Noreco) has acquired from Royal Dutch Shell PLC the company’s upstream interests in Denmark via its shares in Shell Olie-og Gasudvinding Danmark BV (SOGU) in a deal valued at $1.9 billion. SOGU, a wholly owned Shell subsidiary, holds a 36.8% non-operating interest in the Danish Underground Consortium (DUC).

Wed, 17 Oct 2018 15:53:00 GMT
EIA: US crude inventories increase 6.5 million bbl

US crude oil inventories, excluding the Strategic Petroleum Reserve, increased by 6.5 million bbl for the week ended Oct. 12, according to data from the US Energy Information Administration. At 416.4 million bbl, US crude oil inventories are about 2% above the 5-year average for this time of year, the report indicated.

Wed, 17 Oct 2018 15:35:00 GMT
MARKET WATCH: Oil price rally pauses given US stock market volatility

Light, sweet oil prices climbed to settle slightly higher on Oct. 16 but fell Oct. 17 in early trading on the New York market, which analysts attributed to broader US equity market jitters. Crude prices had climbed to multiyear highs recently on oil supply concerns worldwide.

Tue, 16 Oct 2018 18:29:00 GMT
DrillCo plans fall through for Jones Energy

Jones Energy Inc., Austin, has scrapped plans to form a drilling joint venture in the Merge and Western Anadarko basins after a potential financing deal fell through.

Tue, 16 Oct 2018 15:36:00 GMT
Po Valley keeps Italian oil fields after aborted sale

Po Valley Energy Ltd., Perth, has kept full ownership of its two onshore oil fields in northern Italy northeast of Modena following the blockage of their sale to private UK company Delta Energy Ltd. by a major Delta shareholder.

Tue, 16 Oct 2018 15:15:00 GMT
Devon restores full-scale operations at Jackfish 1 complex

Devon Energy Corp., Oklahoma City, completed additional facilities work at its Jackfish 1 heavy oil project in the southern Athabasca oil sands region of Alberta, and full-scale operations have been restored. The work was related to minor facility repairs identified during turnaround startup activities.