Gran Tierra Energy Inc., Calgary, said Apache Corp. has taken a farmout to earn a 50% interest in Gran Tierra's Santa Victoria block covering 516,815 acres in the Noroeste basin of northwestern Argentina. Both companies agreed to proceed into the second exploration phase, which has a work commitment that will be fulfilled with an exploratory well.
Gran Tierra Energy, as operator, is interested in testing the gas potential of Permo-Carboniferous reservoirs, a proven play in nearby wells.
GreenlandGreenland's Bureau of Minerals and Petroleum will license 50,000 sq km off Northeast Greenland in 2012-13.
The area to be licensed is divided in 39 blocks from 75° 30 min to 79° 30 min N. Lat. and from 7° 30 min to 16° W. Long. Companies that were paying participants in the KANUMAS research group will have first priority.
The blocks lie in less than 500 m of water near shore in the Greenland Sea between Iceland and Spitsbergen. Geologically they are in the North and South Danmarkshavn rift basins. These basins were the most endowed of five areas in a US Geological Survey assessment that estimated all of Northeast Greenland to contain a mean undiscovered resource of 17 billion bbl of oil and NGLs and 86 tcf of gas.
Bid deadlines are Dec. 15, 2012, for KANUMAS participants and Oct. 15, 2013, for all other companies.
IndonesiaNiko Resources Ltd., Calgary, has indicated that it plans a 14-16-well exploratory drilling program on the 14 blocks it holds in Indonesia. An activity chart on Niko's web site indicates that seismic processing and interpretation will take place in 2011 with drilling to follow in 2012.
In January, Repsol Exploracion SA took stakes in Niko's East Bula and Seram production-sharing contracts. Niko will operate with 55% and Repsol will have 45% on each block. Niko has completed a 4,760 km 2D seismic survey and a 200 sq km 3D survey.
Repsol and Niko are also joint venture partners in three blocks awarded in 2010: Cendrawasih Bay II, III, and IV. Niko as operator of Cendrawasih Bay III and IV has completed a 5,240 km 2D seismic survey.
LouisianaA group led by Phoenix Exploration Co. LP has spud a second well at the Marathon prospect on State Lease 20369 in Atchafalaya Bay state waters in South Louisiana.
Projected to 21,000 ft in 8 ft of water, it is designed to develop the group's 2010 discovery and test deeper exploratory potential. The group estimates 121 days to drill, log, and case the well.
The well is within 900 m of the discovery well, which went on line in late 2010 and has consistently flowed at rates above 20 MMcfd of gas and 120 b/d of condensate, said Petsec Energy Ltd., Sydney (OGJ Online, Jan. 31, 2011).
Phoenix is operator with 65% working interest, private companies hold a combined 27%, and Petsec has 8%.
TexasSouthEl Paso Corp. resolved to develop its Eagle Ford shale acreage in South Texas on its own to create greater value for its shareholders.
The company said interest in participating in its position was high and that it extensively evaluated proposals from potential partners. It did not identify those who sought to join it.
Wells in the company's central area in LaSalle County, Tex., are exceeding expectations, El Paso said. It ranks the Eagle Ford shale program as one of its most valuable assets and a key resource for oil reserves and production growth.
SouthwestEagleford Energy Inc., Toronto, signed a farmout with an undisclosed farmee from surface to the base of the Cretaceous San Miguel formation on the Matthews lease in Zavala County, Tex., in the Maverick basin.
The farmee may spend up to $1.05 million on exploration and development of the San Miguel formation to earn a maximum of 42.5% working interest (31.875% net revenue interest). It may earn an initial 25% of Eagleford Energy's working interest in the San Miguel by paying the costs to drill, complete, equip, and perform an injection on a vertical test well to a depth of 3,500 ft.
After the performance of the initial test well, the farmee may increase its working interest to 50% of Eagleford Energy's working interest by spending the entire $1.05 million on additional operations on the San Miguel in a good faith effort to produce hydrocarbons.
Eagleford Energy's Matthews and Murphy leases are situated in northeastern Zavala County. The San Miguel formation is known to contain heavy oil in the area and has been the subject of thermal recovery attempts in previous years (OGJ Online, July 23, 2008).
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