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US land rig count jumps to 908

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The US land rig count grew by six this week, reaching 908 rigs, according to the Baker Hughes weekly rig count. There are now 933 total rigs in the US, including offshore and inland waters. Of these, 747 are oil rigs and 186 are gas rigs. Last year, those numbers stood at 337 and 86, respectively.

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Hess takes final investment decision for Liza phase 1 development offshore Guyana

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Hess has sanctioned the first phase of development of the Liza Field, one of the industry’s largest oil discoveries of the past decade, located on the Stabroek Block offshore Guyana. In addition, the company announced positive results from the Liza-4 well which encountered more than 197 ft (60 m) of high-quality, oil-bearing sandstone reservoirs and will underpin a potential Liza Phase 2 development. Gross discovered recoverable resources for the Stabroek Block are now estimated to be 2.0 billion to 2.5 billion barrels of oil equivalent, including Liza and other successful exploration wells on Liza Deep, Payara and Snoek....

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IHS Markit: Large production growth expected for Canadian oil sands through 2026

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IHS Markit has released its outlook for Canadian oil sands production through 2026. IHS Markit expects large production growth through 2019—making Canada the second largest source of global supply growth during that time. More modest, but sustained growth is expected beyond 2019, with oil sands production at the end of 2026 around one million bpd higher than in 2017...

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US land rig count reaches 902

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This week, the number of US land rigs grew by 13 to reach a total of 902, according to the Baker Hughes weekly rig count. This puts the total US rigs at 927, compared to last week’s 916. Offshore, the rig count dropped by one, reaching 22 units.

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New BSEE Director aims to balance environmental sustainability, safety and offshore energy development

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One of the early priorities for Scott Angelle, newly appointed BSEE Director who assumed his role on 24 May, will be to review existing rules and regulations to ensure that they promote offshore safety but don’t create an undue regulatory burden. In a call with members of the media on 1 June, Director Angelle emphasized that he wants to make BSEE an “and” agency, rather than an “or” agency. “How do we implement a safety program and, at the same time, embrace domestic energy production?” he asked. “What I see is that it’s not an either/or proposition.”...

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Baker Hughes, GE announce combined executive team

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Baker Hughes and General Electric Company (GE) announced the executive team that will lead upon closing of their proposed transaction to combine GE’s Oil & Gas business with Baker Hughes. The combined executive team, which has considerable experience, deep expertise and will drive global impact, will be as follows...

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BSEE Director Scott Angelle among confirmed speakers for LAGCOE 2017

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Several high-level speakers have been confirmed for LAGCOE 2017, which will be held 24-26 October in Lafayette, La. They include: Scott Angelle, Director of the US Bureau of Safety and Environmental Enforcement (BSEE); Randall Luthie, President of the National Ocean Industries Association; Allen Fore, Vice President of Public Affairs for Kinder Morgan; Ibrahim Al-Alawi, Deputy CEO for AlMansoori; and Mark Mathis, Producer of the two documentaries, Fractured and spOILed. “We are thrilled to present an impressive slate of technical and international presentations for LAGCOE 2017,” said Susan Frizzell, LAGCOE 2017 technical sessions Chairman and President of Adley Services. “These sessions are sure to educate attendees about the latest tools and services from the world’s leading suppliers, offering practical solutions for enhancing ...

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