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Oil and Gas Journal Drilling News

  1. Anadarko Petroleum Corp., The Woodlands, Tex., plans to reduce its full-year 2017 capital investment by $300 million to $4.2-4.4 billion.

  2. The world oil market is making progress toward rebalancing crude oil supply-demand levels, concluded a joint OPEC and non-OPEC Ministerial Monitoring Committee (JMMC). The group met in St. Petersburg, Russia, on July 24.

  3. Territorial conflict intensifies in the South China Sea.
  4. Official proposals for the ConocoPhillips-led consortium's Barossa and Caldita natural gas fields' development in the offshore Bonaparte basin, 300 km north of Darwin in the eastern Timor Sea, have been made public by the Australian National Offshore Petroleum Safety & Environmental Management Authority (NOPSEMA).
  5. The Trump administration's intentions to consider opening more of the US Outer Continental Shelf to oil and gas leasing in a new management program it plans to develop drew equally strong support from Republicans and opposition from Democrats at a July 12 US House of Representatives Natural Resources subcommittee hearing.