Schlumberger Limited (NYSE:SLB) announced today that it will reduce its activity in Venezuela to align operations with cash collections. This measure is a result of insufficient payments received in recent quarters and a lack of progress in establishing new mechanisms that address past and future accounts receivable.
Schlumberger appreciates the efforts of its main customer in the country to find alternative payment solutions and remains fully committed to supporting the Venezuelan exploration and production industry. However, Schlumberger is unable to increase its accounts receivable balances beyond their current level.
The reduction in activity levels will take place over the current month and will be made in close coordination with all customers in Venezuela to continue servicing those customers with available cash flow, while allowing for a safe and orderly wind down of operations for others.
Additionally, Schlumberger reaffirms its first-quarter revenue guidance of approximately $6.5 billion.
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After reporting a small loss during the first quarter, ConocoPhillips reported adjusted earnings of $54 million from its Alaska operations in the second quarter of the year.Taking into account a one-time $93 million tax adjustment, the largest independent exploration and production company in the world reported $147 million in quarterly earnings from Alaska - the highest for any segment. The company reported a $2 million loss in the first quarter. The increased profits, which are below levels from a year ago, came from a combination of generally higher production and higher crude oil prices.ConocoPhillips produced 179,000 barrels of oil equivalent per day from its Alaska operations during the second quarter, down from 191,000 boepd in the first quarter and up from 174,000 boepd during the second quarter of 2015. Alaska accounted for nearly 12 percent of the 1.5 million boepd the company produced across its entire global operations during the second quarter, up from nearly 11 percent during the second quarter of last year.
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根据对巴西近海桑托斯盆地S-M-1037、1101、1102、1165和1166块区的联合生产协议,PEPC向Karoon Gas Australia Ltd. 支付滞纳金。
Karoon Gas Australia Ltd. 是一家澳大利亚上市公司,拥有桑托斯盆地65%的股份,而PEPC拥有其余35%。6月14日Karoon公开发布PEPC的违约声明,第二天滞纳金赔付工作完成。
来自/Rigzone 6月16日消息 编译/徐建鹏
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Pacific Exploration and Production Corp. made an overdue payment to Karoon Gas Australia Ltd. under the Joint Operating Agreement (JOA) for Blocks S-M-1037, 1101, 1102, 1165 and 1166 in the Santos Basin, offshore Brazil.
"Karoon is pleased to confirm that the overdue payment has been made and this matter is now resolved," Karoon said Wednesday in a press release.
The Australian-listed firm, which owns 65 percent interest in the Santos Basin blocks, issued June 14 a default notice to partner Pacific Exploration and Production under the provisions of the JOA. Pacific holds a 35 percent stake in the blocks.
NEW YORK (Bloomberg) -- Crude fell the most in 10 weeks as the number of rigs drilling for oil in the U.S. climbed and the U.S. dollar strengthened against its peers.
Futures tumbled 3% in New York. Rigs targeting crude in the U.S. rose by 3 to 328 this week, capping the first two-week gain since August, Baker Hughes Inc. said Friday. The dollar rose, making commodities denominated in the currency less attractive as an investment. Prices climbed earlier this week as U.S. crude stockpiles declined and disruptions cut Canadian and Nigerian supply.
Tim Evans, an energy analyst at Citi Futures Perspective in New York, said even though the "market is so intensely focused on the rig count now," the two-week gain won’t have much effect on actual supply in the near-term.
"The uptick can at most be considered an inflection point where the rig-count decline stopped. It will take at least six months before it will be reflected in supply," he said.
Oil has surged about 90% from a 12-year low in February as the global glut is trimmed by disruptions and a slide in U.S. output, which is under pressure from the Organization of Petroleum Exporting Countries’ policy of pumping without limits.
West Texas Intermediate for July delivery slipped $1.49 to settle at $49.07/bbl on the New York Mercantile Exchange, the biggest decline since April 4. Futures rose 0.9% this week. Total volume traded was 6.8% below the 100-day average.
Commodity Decline
Brent for August settlement dropped $1.41, or 2.7%, to $50.54/bbl on the London-based ICE Futures Europe exchange. The North Sea crude, used as a global benchmark, climbed 1.8% this week. Brent closed at an 82-cent premium to WTI for August delivery.
The Bloomberg Dollar Spot Index, which tracks the currency against 10 major peers, rose as much as 0.8% after rallying 0.4% on Thursday. The Bloomberg Commodity Index looked set for a second day of losses Friday.
Global stocks headed for the biggest drop in two months and bond yields slid to record lows as investors braced for next week’s Federal Reserve meeting and Britain’s referendum on European Union membership later this month.
"Ninety percent of the world’s oil is dollar-denominated," so any change in dollar value will "feed through pretty directly," Paul Sankey, an energy analyst at Wolfe Research LLC, said on Bloomberg Radio. "We are expecting Canadian production to come back soon."
Alberta Wildfires
Fires in Canada’s oil-sands region are expected to disrupt supplies by an average of 400,000 bpd this month, after peaking at more than 1.1 MMbpd of lost production in May, according to the U.S. Energy Information Administration. Cenovus Energy Inc. is in the process of restarting production at the Pelican Lake oil field after shutting operations on Wednesday.
Oil producers in Nigeria are facing a renewed wave of violence in the delta region that accounts for most of the country’s crude. The country’s output dropped to the lowest in almost three decades as armed groups intensified attacks to rupture pipelines in recent months.
U.S. crude stockpiles fell 3.23 MMbbl to 532.5 MMbbl last week, the lowest since April 1, data from the EIA showed.