Husky Energy boosts spending as profit falls

CALGARY, Alberta, Nov 4 (Reuters) - Husky Energy Inc (HSE.TO) said on Thursday its third-quarter profit fell 24 percent as it struggled with the impact of Enbridge Inc's (ENB.TO) U.S. oil pipeline outages, but the company raised its spending budget for the year by C$900 million ($898 million). [Read...

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InterOil Corporation Announces Public Offerings

THE WOODLANDS, Texas, Nov. 4, 2010 /PRNewswire-FirstCall/ -- InterOil Corporation (NYSE: IOC) (IOC: POMSoX) today announced its intention to offer, subject to market and other conditions, a concurrent public offering of convertible senior notes due 2015 and common shares.  IOC is authorized to...

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Oil prices hit fresh six-month peaks

ENERGY Oil prices hit fresh six-month peaks on Thursday as the dollar slumped on the back of the US Federal Reserve's new huge stimulus package aimed at boosting the American economy. New York's main contract, light sweet crude for December, surged to $US86.49 a barrel, up $US1.80 from Wednesday's close....

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Bonavista posts higher profits

Calgary-Bonavista Energy Trust on Thursday reported a 10 per cent jump in third quarter profits ahead of a conversion to a dividend paying corporation.The Calgary-based oil and gas producer said it made $36.6 million or 24 cents a share versus $33.3 million or 25 cents a share in the third quarter of...

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Brazil says oil output falls 4 pct in September

* Brazil production falls to 1.99 million bpd * Drop in output mostly due to stoppages at Marlim field * Gas output hits record of 63.9 million cubic meters/day [Read more]Source: REUTERS AFR...

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Denbury Resources posts higher profit in 3Q

DALLAS  Oil and gas company Denbury Resources said Thursday its profit grew 8.3 percent in the third quarter as oil and natural gas sales propelled revenue to more than double from a year earlier. The company reported net income of $29.1 million, or 7 cents a share, for the three months ended Sept....

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Bromwich gets defensive about drilling inspector criticism

A key administration official charged with overseeing the country’s offshore drilling pushed back yesterday against allegations that drilling inspectors in the Gulf of Mexico did not have the necessary knowledge and experience to ensure the safety of rigs. [Read more] Source: THE WASHINGTON INDEPEN...

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Murphy buys Kurdish Iraq acreage, follows Marathon

* Rival Marathon entered Kurdistan late last month SAN FRANCISCO Nov 4 (Reuters) - Murphy Oil Corp (MUR.N: Quote) is buying acreage in Iraq's Kurdistan, the U.S. company said on Thursday, two weeks after rival Marathon Oil Corp (MRO.N: Quote) announced [Read more] Source: REUTERS AFR...

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Friede & Goldman, Ltd. (F&G) and Alpha Petroleum Services, LLC (APS) Have Entered Into a Joint Marketing Agreement for Release of the Centurion MVP

Friede & Goldman, Ltd. (F&G) and Alpha Petroleum Services, LLC have entered into a joint marketing agreement to offer full field development solutions to owners of previously abandoned offshore oil and gas resources. Friede & Goldman’s engineers and Alpha Petroleum Services’ project managers...

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Gran Tierra Energy Inc. Announces Third Quarter 2010 Results

Quarter highlighted by entry into Brazil and delineation drilling at the Moqueta oil field discovery in Colombia CALGARY, Nov. 4 /PRNewswire-FirstCall/ - Gran Tierra Energy Inc. ("Gran Tierra Energy") (NYSE Amex: GTE, TSX: GTE), a company focused on oil and gas exploration and production in South...

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Warburg puts $250 million behind new Houston E&P

Private equity firm Warburg Pincus is putting $250 million behind a group of experienced E&P managers to create a new Houston firm, Gulf Coast Energy Resources. [Read More] Source: Fuel...

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Storm stops Venezuela oil upgrader again

Venezuela's troubled 130,000 barrels-per-day (bpd) Petroanzoategui heavy crude upgrader has stopped again after a storm caused a fault in its compressor unit, a source at state oil company PDVSA said on Wednesday. [Read More] Source: Reut...

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Anadarko says studying new U.S drilling rules

Anadarko Petroleum Corp (APC.N: Quote) says it was still trying to understand new U.S regulations aimed at offshore drilling industry following the BP (BP.L: Quote) oil spill, a senior official said on Wednesday. [Read More] Source: Reut...

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Suncor places big order for GE turbines

Suncor Energy Inc. has ordered 55 General Electric Co. 1.6-megawatt wind turbines for a wind-power project in Alberta, GE said yesterday. [Read More] Source: Calgary Her...

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Chesapeake Energy Third-Quarter Profit Rises to $558 Millione

Chesapeake Energy Corp., the second- largest U.S. natural-gas producer, said third-quarter profit rose as production increased. Net income was $558 million, or 75 cents a share, compared with $192 million, or 30 cents, a year earlier, Oklahoma City- based Chesapeake said today in a statement on Business...

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Oil States Awarded Contracts by FloaTEC Totaling $29 Million for Tendon Mooring Equipment for a Tension Leg Platform

HOUSTON, Nov 3, 2010 (GlobeNewswire via COMTEX) -- Oil States International, Inc. (OIS 51.84, 0.00, 0.00%) announced today that Oil States Industries, its wholly owned subsidiary headquartered in Arlington, Texas, was awarded contracts valued at approximately $29 million by FloaTEC de Mexico S.A. for...

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Brazil Petrobras questions BG oil reserve estimate

Brazilian state oil company Petrobras (PBR.N: Quote) on Wednesday questioned British gas producer BG Group's (BG.L: Quote) move to boost its oil reserve estimates for discoveries in Brazil, saying the company should await the completion of wells being drilled there. [Read More] Source: Re...

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Pride International, Inc. Provides Fleet Contract Status Update

HOUSTON, TX, Nov 03, 2010 (MARKETWIRE via COMTEX) -- Pride International, Inc.today announced that its report of drilling rig status and contract information covering the company's fleet of offshore drilling rigs and its two drilling management projects has been updated through today's date. The updated...

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WorleyParsons snares gas contracts

WorleyParsons Ltd says it has been awarded contracts relating to two major offshore gas projects.Energy giant ConocoPhillips awarded the Sydney-based engineering firm a contract to provide detailed design and procurement services for parts of its Jasmine joint venture in the North Sea, WorleyParsons...

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ExxonMobil to explore gas in German state

Germany's most populous state, North-Rhine Westphalia, home to mining and utilities, has awarded exploration licences to ExxonMobil (XOM.N: Quote) and nine other firms to search for unconventional gas, a newspaper said on Wednesday. [Read More] Source: Reut...

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ExxonMobil builds islands in Gulf to drill oil

The production platform at the Sakhalin field in Russia where oil reserves that lay underneath pack-ice were tapped. ExxonMobil is to use technology developed in the Russian Arctic to boost output from the giant Upper Zakum oilfield off the coast of Abu Dhabi. ExxonMobil's...

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HNA to build 40 ships

China’s Fujian Shipbuilding Industry Group Corporation (FSIGC) recently signed strategic cooperation with Hainan Airlines, which was the shareholder of Grand China Logistics and Jinhai Heavy Industry. [Read More] Source: Asia...

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China’s orders rise by 200%

According to China Association of the National Shipbuilding Industry (CANSI) fresh statistics, in the past three quarters of 2010, national output hit 45.82m dwt, rising by 65% while new orders reached 50.71m dwt which was the three times of that in last year. [Read More] Source: Asia...

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