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Production

Almost one-third (31 percent) of oil and gas companies expect to freeze pay for 2016, according to a survey released Dec. 17 by Aon Hewitt. The “2015-2016 Compensation Planning Research Update for the Oil and Gas Industry” surveyed more than 60 oil and gas organizations representing more than 315,000 industry…
Iran will withdraw up to $4.8 billion from its sovereign wealth fund to spend on developing its oil and gas fields next fiscal year under a proposal approved by parliament. The decision to dip into the National Development Fund underlines the heavy financial pressure which Iran faces from low oil…
HOUSTON (Bloomberg) -- Carbo Ceramics Inc., the largest supplier of man-made proppants for the oil and natural gas industry, said sales of its synthetic fracing material fell as customers used more sand.   Third-quarter sales of ceramic proppant will fall 18% from the prior quarter, matching first-quarter levels, the Houston-based…
WASHINGTON, D.C. (Bloomberg) -- U.S. crude production climbed to the highest level in more than 28 years last week as the shale boom moved the country closer to energy independence.   Output rose 248,000 bpd to 8.838 million, the most since March 1986, according to Energy Information Administration data. The…
PITTSBURGH, Pennsylvania -- Atlas Resource Partners (ARP) is to acquire oil assets in the Eagle Ford shale in south Texas for $225 million. The assets consist of 22 producing wells and 19 undeveloped locations containing estimated net reserves of approximately 12 MMboe.   ARP' s Board of Directors has approved…
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