Newfoundland

By OGJ editors
HOUSTON, Dec. 4
– Shoal Point Energy Ltd., Calgary, and Canadian Imperial Venture Corp., St. John’s, plan to explore the Cambro-Ordovician Green Point formation on land and near shore in western Newfoundland.

Under an agreement with McLaren Resources Inc., Toronto, Shoal Point Energy plans to operate three exploratory wells. Shoal Point Energy 61.5% and CIVC 38.5% hold 137,000 acres of exploration rights above the Ordovician carbonate platform in Exploration License 1070 in the Port au Port Bay area with Green Point potential. All drilling targets are reachable from shore.

Green Point is recognized as having high total organic carbon, locally in excess of 10%, and is the probable source, based on geochemical affinities, of numerous oil and gas seeps in the region as well as early production on Shoal Point and the major exhumed oil field at Port au Choix, 200 miles north of Port au Port Bay, CIVC said.

To facilitate farmout deals, EL 1070 has been divided into 15 blocks. CIVC and McLaren have entered into a farmout agreement giving McLaren the right, on a well by well basis, to participate in a planned three-well program to start as early as possible in 2010. McLaren will pay 32% of the cost of the well to earn a 16% working interest in the block on which the well is drilled. Provided McLaren participates in all 3 wells, it will have the right to pre-empt and match the terms of any third party offer on remaining blocks in EL 1070.

The three firms also agreed to establish a 1.5 million acre area of mutual interest for lands outside EL 1070 that are potentially prospective. They intend to gain acreage through land sales and farm-out deals with others that hold lands in the AMI.

Related Articles

Judge vacates FWS listing of lesser prairie chicken as threatened

09/03/2015 A federal district judge in Texas vacated the US Fish & Wildlife Service’s listing of the lesser prairie chicken as a threatened species after ...

USGS estimates Cherokee Platform Province oil, gas, NGL reserves

09/02/2015 The Cherokee Platform Province in Kansas, Oklahoma, and Missouri contains estimated recoverable reserves totaling 463 million bbl of crude oil, 11....

Appeals court rules for environmental groups in Montana lawsuit

09/02/2015 A federal appeals court ruled that three environmental groups may have standing in a lawsuit to block oil and gas leasing on federal land in Montan...

EIA: Benefits of lifting US crude export ban most evident if output rises

09/02/2015 A study released Sept. 1 by the US Energy Information Administration was apparent cause for celebration for several oil and gas industry groups, wh...

GeoPark follows Chachalaca success with Jacana discovery

09/02/2015 GeoPark Ltd.’s Jacana 1 exploration well flowed 1,880 b/d of 14.9° gravity oil with a water cut of 1.9%, the company said. This discovery follows t...

India to open 69 marginal fields for bidding

09/02/2015

To stimulate investment and increase production, India plans to open 69 oil fields for competitive bidding.

White House keeps oil, gas in Alaska picture amid climate emphasis

08/31/2015 The White House quietly refused to rule out oil and gas development in Alaska as US President Barack Obama, Secretary of State John F. Kerry, and o...

Gas discovery offshore Egypt rivals Mediterranean giants

08/31/2015 Eni SPA expects accelerated development of what it describes as a “supergiant gas discovery” at its deepwater Zohr prospect offshore Egypt. The com...

Buru finds more oil onshore Canning basin

08/31/2015 Buru Energy Ltd., Perth, has intersected a gross 23-m column of oil at the top of the Ungani Dolomite formation with its Praslin-1 wildcat drilled ...
White Papers

UAS Integration for Infrastructure: More than Just Flying

Oil and gas companies recognize the benefits that the use of drones or unmanned aerial systems (UAS) c...

Solutions to Financial Distress Resulting from a Weak Oil and Gas Price Environment

The oil and gas industry is in the midst of a prolonged worldwide downturn in commodity prices. While ...
Sponsored by

2015 Global Engineering Information Management Solutions Competitive Strategy Innovation and Leadership Award

The Frost & Sullivan Best Practices Awards recognise companies in a variety of regional and global...
Sponsored by

Three Tips to Improve Safety in the Oil Field

Working oil fields will always be tough work with inherent risks. There’s no getting around that. Ther...
Sponsored by

Pipeline Integrity: Best Practices to Prevent, Detect, and Mitigate Commodity Releases

Commodity releases can have catastrophic consequences, so ensuring pipeline integrity is crucial for p...
Sponsored by

AVEVA’s Digital Asset Approach - Defining a new era of collaboration in capital projects and asset operations

There is constant, intensive change in the capital projects and asset life cycle management. New chall...
Sponsored by

Transforming the Oil and Gas Industry with EPPM

With budgets in the billions, timelines spanning years, and life cycles extending over decades, oil an...
Sponsored by

Asset Decommissioning in Oil & Gas: Transforming Business

Asset intensive organizations like Oil and Gas have their own industry specific challenges when it com...
Sponsored by
Available Webcasts


Operating a Sustainable Oil & Gas Supply Chain in North America

When Wed, Oct 7, 2015

Short lead times and unpredictable conditions in the Oil & Gas industry can create costly challenges in supply chains. By implementing a LEAN culture of continuous improvement you can eliminate waste, increase productivity and gain end-to-end visibility leading to a sustainable and well-oiled supply chain.

Please join us for this webcast sponsored by Ryder System, Inc.

register:WEBCAST


The Resilient Oilfield in the Internet of Things World

When Tue, Sep 22, 2015

As we hear about the hype surrounding the Internet of Things, the oil and gas industry is questioning what is different than what is already being done. What is new?  Using sensors and connecting devices is nothing new to our mode of business and in many ways the industry exemplifies many principles of an industrial internet of things. How does the Internet of Things impact the oil and gas industry?

Prolific instrumentation and automation digitized the industry and has changed the approach to business models calling for a systems led approach.  Resilient Systems have the ability to adapt to changing circumstances while maintaining their central purpose.  A resilient system, such as Maximo, allows an asset intensive organization to leverage connected devices by merging real-time asset information with other critical asset information and using that information to create a more agile organization.  

Join this webcast, sponsored by IBM, to learn how about Internet of Things capabilities and resilient systems are impacting the landscape of the oil and gas industry.

register:WEBCAST



On Demand

Taking the Headache out of Fuel License and Exemption Certificates: How to Ensure Compliance

Tue, Aug 25, 2015

This webinar, brought to you by Avalara, will detail the challenges of tax document management, as well as recommend solutions for fuel suppliers. You will learn:

-    Why it’s critical to track business partner licenses and exemption documents
-    The four key business challenges of ensuring tax compliance through document management
-    Best practice business processes to minimize exposure to tax errors

register:WEBCAST


Driving Growth and Efficiency with Deep Insights into Operational Data

Wed, Aug 19, 2015

Capitalizing on today’s momentum in Oil & Gas requires operational excellence based on a clear view of what your business data is telling you. Which is why nearly half* of oil and gas companies have deployed SAP HANA or have it on their roadmap.

Join SAP and Red Hat to learn more about using data to drive process improvements and identify new opportunities with the SAP HANA platform running on Red Hat Enterprise Linux. This webinar will also show how your choice of infrastructure impacts the performance of core business applications and your ability to achieve data-driven insights quickly and reliably.

*48% use SAP, http://go.sap.com/solution/industry/oil-gas.html

register:WEBCAST


Careers at TOTAL

Careers at TOTAL - Videos

More than 600 job openings are now online, watch videos and learn more!

 

Click Here to Watch

Other Oil & Gas Industry Jobs

Search More Job Listings >>
Stay Connected