Baker Hughes: US rig count up 4 to 1,048

The US drilling rig count gained 4 rigs to 1,048 units working for the week ended Aug. 31, according to Baker Hughes data. The count is up 105 units from this time a year ago when the count stood at 943. Source: News

BSEE releases investigation results from late 2016 platform fire

A Nov. 12, 2016, fire on a Gulf of Mexico offshore platform, which injured three Wood Group contract employees, broke out when a flammable gas mixture that was released through the thief hatch on the dry oil tank, migrated into the left fire tube, where it contacted either the left fire tube flame or the […]

Idemitsu Kosan commissions unit at Aichi refinery

Idemitsu Kosan Co. Ltd. has commissioned a unit for production of mixed xylenes at its 160,000-b/d Aichi refinery in Chita, Aichi Prefecture, Japan. Commercial operation of the mixed xylene equipment—which includes reformed gasoline xylene recovery equipment—began earlier this month, the operator said. Source: News

PSAC lowers outlook for Canadian drilling

The drilling outlook in Canada is weakening, according to the Petroleum Services Association of Canada. In the third update of its 2018 drilling forecast, the trade group lowered its forecast for wells drilled, which it measures as rigs released, to 6,900 from 7,400 in the April revision. Source: News

NNPC to establish condensate refineries

Nigerian National Petroleum Corp. said it will establish two condensate refineries with a combined refining capacity of 200,000 b/d at Western Forcados Area and Assah North Ohaji South (ANOH) Areas of Delta and Imo States, Nigera, respectively. NNPC launched a bid opening for the provision of consultancy services to carry out a feasibility study for […]

Barclays: Revised North American upstream spending to increase 15% in 2018

In Barclay’s midyear global spending survey of more than 200 companies, global upstream spending for 2018 is on pace to rise 8%, essentially in line with its December spending report. “Compare to the last two cycles, the recovery in global spending has been remarkably restrained, but may be poised to accelerate in 2019 based on […]

PennEnergy Resources to acquire Rex Energy assets

PennEnergy Resources LLC, Pittsburgh, Pa., will acquire substantially all the assets of Rex Energy Corp., State College, Pa., for $600.5 million in a cash deal. Nearly all the combined assets are in the core of the Marcellus shale area with 20 years of drilling inventory, the company said. Rex Energy filed for voluntary bankruptcy and […]

Canada’s appeals court overturns Trans Mountain crude pipeline approval

Canada’s Federal Court of Appeal on Aug. 30 declared the regulatory review of Kinder Morgan Inc.’s (KMI) Trans Mountain Pipeline Expansion impermissibly flawed, effectively halting work on the crude oil transportation project. The court based its decision on a failure to include project-related tanker traffic as part of its evaluation. It also cited KMI’s failure […]