(Kristian Helgesen/Bloomberg)

Statoil projects big returns from massive North Sea oil field

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The Norwegian oil conglomerate estimates the field could generate as much as 650,000 barrels of oil per day.
Hercules Offshore says it will lay off 324 workers and shut down four offshore rigs.

Hercules Offshore to lay off 324 workers

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Houston-based drilling rig contractor Hercules Offshore has told Texas regulators it will lay off 324 employees as it shuts down four rigs in the Gulf of Mexico.
(Andrey Rudakov/Bloomberg)

Shell Midstream surges in early trading

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Shell’s midstream initial public offering took flight early Wednesday, gaining more than 40 percent shortly after trading started.
Photo:  inserv.org

Oil & gas industry standards could be beneficial, but obstacles abound

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Standards sound great, but I see obstacles to their adoption. I’ll outline those this week, and, since no one likes people who complain about problems but never offer any solutions, I’ll share some thoughts on how to overcome these issues.
Ocean_wave

Getting new oil means fathoming the deep

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Finding the oil is just the beginning, especially in the depths of the sea.
Categories: General, Offshore, Technology
The Transocean-owned Discoverer India drill ship made the oil discovery 180 miles off the coast of Louisiana in 3992 feet of water. (Chevron)

Chevron, BP make oil discovery in Gulf of Mexico

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Chevron and BP report an oil discovery in one of the deepest regions the industry has taken on in the Gulf of Mexico.
The sun rises behind a ship as it enters the North Sea from the river Tyne, near Tynemouth, England, Wednesday, Oct. 15, 2014. (AP Photo/PA, Owen Humphreys)

BP, GDF Suez discover new field in UK North Sea

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The UK North Sea is an area that BP CEO Bob Dudley said last month “is now mature,” and that investment opportunities “are smaller and more challenging to develop than in the past.”
photo via Royal Dutch Shell

Shell makes deepwater gas discovery in Gabon

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Royal Dutch Shell today announced a discover off the coast of Gabon but says it will need to conduct further analysis to determine just go much gas is present.
John Gremp is chairman and CEO of FMC Technologies.

Oil firms reach for subsea standards to cut costs, FMC CEO says

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The next generation of tools designed to help energy companies process oil and gas deep under the oceans could follow uniform industry designs, FMC Technologies CEO John Gremp said.
Sales of equipment like these subsea trees displayed at its Houston headquarters helped FMC Technologies post a 46 percent third-quarter profit rise.  (Melissa Phillip/Chronicle)

FMC Technology profit rises 46 percent

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FMC Technologies on Tuesday posted a 46 percent boost to its third-quarter bottom line, largely because of a rise in subsea technology sales and its North American high-pressure fluid control business.