OIL AND GAS INDUSTRY NEWS

The oil and gas industry is one of the most dynamic waving time to time due to political factors, economic instability, natural phenomenon to mention but a few. For this reason, news on the happenings of this industry never fail to hit the headlines as with each passing moment a new discovery is made, a new policy enacted, a new price comes to play and the like.

Such news can be available online on various websites like the RIGZONE and News Now. Publications such as Business Insider also holds a lot on the changes happening in the industry.

Examples of Oil and Gas Industry News

Exxon Mobil Adds New Production

On 4th March 2015, Exxon Mobil Corporation’s chairman and chief executive officer told of the company’s expectation to raise its production to 4.3 million barrels per day by 2017. This will be the result of starting up 16 major oil and natural gas projects during the next three years.

Exxon Mobil Corporation is the largest publically traded international oil and gas utilizing a lot of technology and innovation. About 75% of its refining operations are integrated with chemical and lubricant manufacturing resulting in economies of scale and greater flexibility in the production of high-value products.

Blackbird’s Rich Gas Discoveries

Blackbird Energy Inc. on March 4th 2015, announced the successful completion and testing of its first two operated Montney wells (06-26-70-07-W6) and (05-26-70-07-W6) found on Blackbird’s 69 section land block at Elmworth, Alberta, Canada. Both wells represent significant condensate and liquid-rich gas discoveries for Blackbird.

The Blackbird Energy Inc. is an upcoming oil and gas exploration company whose focus is heavily majored on the liquids-rich Montney fairway. As the CEO Garth Braun says, the company plans to continue with aggressive delineation and development of the Elmworth project opening with the design and construction of a battery for tie-in by the first quarter of 2016.

Total Discloses Full List its Consolidated Entities

This news hit the headlines on March 4th 2015 when total made this list available online at total.com. This list replaces that of the main Group entities presented in previous.

The CEO, Patrick Pouyanne, made it clear that this move would make anyone have access to the full list of Total’s entities, plus their country of incorporation and the country of operation. This will help dust off probable misunderstandings brought about by partial disclosure.

Pricing of the Public Offering of Common Stock

Oasis Petroleum Company announced on 4th March 2015, its pricing an upsize underwritten public offering of 32,000,000 shares of common stock for total gross proceeds of about $409.6 million. The offering would close on 9th March 2015. Net proceeds accruing will be used to repay outstanding borrowings and for general corporate purposes.

The Oasis Company focusses on acquisition and development of unconventional oil and gas resources.

The examples given above are a grain of sand in the desert from the mere fact that the major leaps mentioned happened on the same day. This confirms the fact that the oil and natural gas industry is one field which one can never term uneventful. Every hour comes with something new.