Niko Resources agrees on plan with lenders to maintain core assets

Niko Resources Ltd., Calgary, has agreed with various institutional lenders and noteholders on a plan that would allow Niko to maintain its core assets for at least 2 years until values can potentially be enhanced. Source: News

India misses oil, gas production targets

India’s public upstream companies missed targets for crude oil and natural gas production in recent years, according to India’s Press Information Bureau. Source: News

Tap Oil to make cuts to operations, jobs

Tap Oil Ltd., Perth, reported it plans to axe jobs and operations so it can meet its restructured debt repayment commitments. Source: News

MARKET WATCH: New York, London oil prices tumble on oversupply concerns

Crude oil prices tumbled more than $1 on the New York market to settle at just above $37/bbl on Mar. 14 following news reports that Iranian Oil Minister Bijan Zanganeh said his nation would not participate in an oil production freeze until Iran’s production reaches 4 million b/d. Source: News

Hofmeister named chairman of Erin Energy

John Hofmeister has been appointed chairman of Houston-based Erin Energy Corp. He previously served as president of Shell Oil Co. from 2005 to 2008. Source: News

NMFS permit delays hold up Atlantic OCS seismic, IAGC official warns

Delays at the National Marine Fisheries Service (NMFS) are keeping crucial geophysical information from being gathered off Atlantic coastal states as the US Department of the Interior prepares to release its draft 2017-22 US Outer Continental Shelf plan, an International Association of Geophysical Contractors (IAGC) executive said. Source: News

Eni completes sale of 12.5% Saipem stake

Eni SPA completed its sale of a 12.5% interest in Saipem SPA to Fondo Strategico Italiano SPA for €463.2 million. Source: News