Oil and Gas Oil and Gas Exploration

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  • NICOSIA, Cyprus— Cyprus' energy minister says eight companies have formally applied to carry out exploratory oil and gas drilling in waters off the island's southern coast. Yiorgos Lakkotrypis says six applications for a drilling license were submitted for all three blocks, or areas, that were available as part of the island nation's third licensing round.

  • *Q2 loss/shr C $0.20 vs. estimates of loss of C $0.24. July 21- Canada's Precision Drilling Corp said drilling activity in North America in the second quarter was the lowest in decades, but added that oil producers were resetting capital budgets due to the recent rally in crude prices. "Our customers appear to be looking beyond the oil price lows of earlier this year,...

  • However, the 70 percent rise in U.S. crude oil prices since hitting near-record lows in February, has led to a modest improvement in drilling activity so far in the current quarter, Chief Executive Kevin Neveu said on Thursday. The rig count is now up 27 percent, to 28 active rigs, in the United States from trough levels, Neveu said. The company's loss increased to C...

  • CHICAGO— Fracking may worsen asthma in children and adults who live near sites where the oil and gas drilling method is used, according to an 8- year study in Pennsylvania. Fracking and improved drilling methods led to a boom in production of oil and gas in several U.S. states, including Pennsylvania, North Dakota, Oklahoma, Texas and Colorado.

  • HOUSTON, July 13- Energy companies in Colorado are spending millions of dollars to derail a push by environmentalists to put measures on November's ballot that would stifle oil and gas drilling in the state, according to a Reuters review of campaign finance records. A study by the Colorado Oil and Gas Conservation Commission, a state agency tasked with...

  • The volume of gas in working storage hit a record 4.01 trillion cubic feet in November 2015 and is still at 3.18 trillion cubic feet, according to the U.S. Energy Information Administration. In response to the earlier slide in prices, the number of rigs drilling for oil and gas across the United States has fallen to the lowest level since World War Two.

  • The volume of gas in working storage hit a record 4.01 trillion cubic feet in November 2015 and is still at 3.18 trillion cubic feet, according to the U.S. Energy Information Administration. In response to the earlier slide in prices, the number of rigs drilling for oil and gas across the United States has fallen to the lowest level since World War Two.

  • Oil workers make a pipe connection on a drilling rig near Encinal, Texas.

    Energy recruiters says oilfield services firms and drillers could face a staffing shortage after cutting hundreds of thousands of jobs.

  • WASHINGTON, July 7- The U.S. Department of Interior on Thursday unveiled its final regulations on drilling in the U.S. "The rules help ensure that any exploratory drilling operations in this highly challenging environment will be conducted in a safe and environmentally responsible manner, while protecting the marine, coastal and human environments, and...

  • Oil Central Asia

    Skyland Petroleum's David Robson talks to CNBC about the developments of the firm's Georgia gas project and Tajikistan operations.

  • WASHINGTON, June 28- The U.S. Supreme Court on Tuesday agreed to weigh Venezuela's bid to block a lawsuit filed by an American oil drilling company that claims the South American country unlawfully seized 11 drilling rigs six years ago. The high court will review a May 2015 ruling by the U.S. Court of Appeals for the District of Columbia Circuit that allowed one of...

  • WASHINGTON, June 28- The U.S. Supreme Court on Tuesday agreed to weigh Venezuela's bid to block a lawsuit filed by an American oil drilling company that claims the South American country illegally seized 11 drilling rigs six years ago.

  • DUBAI, June 28- Iran on Tuesday reappointed a former managing director of its Swiss-based trading company as part of a broader reshuffle aimed at bolstering its oil exploration and exports. The appointment follows the naming this month of a new boss for the National Iranian Oil Company as Tehran looks to spur exports and long-awaited deals with international...

  • SYDNEY, June 27- BHP Billiton said on Monday it plans to boost its exploration budget by 29 percent to around $900 million next year, as the global miner counts on new finds of oil and copper to drive growth in a tough market rather than mergers and acquisitions. Petroleum exploration by BHP will focus on deepwater basins in the Gulf of Mexico, the Caribbean and the...

  • OSLO, June 16- Nearly 300 employees on oil and gas drilling rigs off Norway could go on strike unless a wage deal is agreed by June 22, the country's state-appointed mediator said on Thursday. Rowan Companies' Viking and Gorilla rigs will be affected, one of the unions involved in the wage talks said. Unions and the rig owners are due to meet to negotiate an annual wage...

  • *Wall Street slide further fuels pre-weekend profit-taking in oil. NEW YORK, June 10- Oil prices settled down 3 percent on Friday after data showing the U.S. oil drilling rig count rising for a second week in row and a stronger dollar weighed on demand for greenback-denominated crude futures. Crude futures are also about 90 percent higher from 13- year lows hit...

  • *New attacks in Nigeria limit Brent, WTI losses. NEW YORK, June 10- Oil prices fell about 3 percent on Friday after data showing the U.S. oil drilling rig count rising for a second week in row and a stronger dollar weighed on demand for greenback-denominated crude futures. Brent's front-month fell $1.43, or 2.8 percent, to $50.52 a barrel by 2:14 p.m. EDT, after setting...

  • June 10- U.S. energy firms this week added rigs drilling for oil for a second week in a row for the first time since August, energy services firm Baker Hughes Inc said on Friday, after crude prices this week rallied to an 11- month high over $51 a barrel. RIG-OL-USA- BHI> Two of those oil rigs were added in the Bakken shale producing region in North Dakota, bringing the...

  • June 10- U.S. energy firms this week added rigs drilling for oil for a second week in a row for the first time since August, energy services firm Baker Hughes Inc said on Friday, after crude prices this week rallied to an 11- month high over $51 a barrel. The rig count has dropped since hitting a peak of 1,609 in October 2014 as U.S. crude futures fell from over $107 a barrel...

  • SINGAPORE, June 6- Oil prices edged up in early trading on Monday as a plunge in the U.S.-dollar was seen spurring fuel demand, although traders said plentiful supplies capped increases. International Brent crude futures were trading at $49.91 per barrel at 0014 GMT, up 27 cents from their last settlement, and U.S. West Texas Intermediate crude futures were up 28...