Daily Archives: August 26, 2016

Kentucky refinery implements rail transport system

Continental Refining Co. has expanded logistics for receiving and distributing petroleum products to and from its 5,985-b/d refinery in Somerset, Ky., by implementing the use of railcars linked to the Somerset Rail Park in Ferguson, Ky., along the Norfolk-Southern Railroad lines. Read Full Article Here For more great articles: Oil & Gas Journal – Transportation

MARKET WATCH: NYMEX oil price hovers around $47/bbl

The light, sweet crude oil price for October delivery gained modestly to settle above $47/bbl on the New York market Aug. 25. US futures prices have risen in 9 of the last 11 trading sessions. Read Full Article Here For more great articles: Oil & Gas Journal – General Interest

Byron Energy relinquishes Gulf of Mexico lease

By Offshore Energy Today U.S. Gulf of Mexico operator Byron Energy is relinquishing its South Marsh Island Block 6 Lease, located offshore Louisiana. The company drilled two wells in the lease and found and logged hydrocarbons in 2014 and 2016. In June the company said it wouldn’t re-enter its SM6 #2 well which had been…

Impairments push Songa Offshore into red despite $80M revenue rise

By _Offshore_Energy_Today_ Songa Offshore, an offshore drilling contractor, has reported a loss for the second quarter of 2016, mostly due to impairment charges which amounted to $118 million for the quarter. The Oslo-listed company said on Friday that its loss for 2Q was $86.3 million, down from the $17.3 million profit made in the same…