More Oil Discoveries News

Beach Energy JV adds to western flank discoveries

Nov 25, 2014

Beach Energy Ltd., Adelaide, has continued its successful run in the western flank region of the Cooper-Eromanga basins in South Australia.

Talisman, Ecopetrol make second heavy oil find on Colombia’s Block CPO-9

Nov 24, 2014

A unit of Talisman Energy Inc., Calgary, and Colombia’s Ecopetrol SA gauged a heavy oil discovery with the Nueva Esperanza-1 exploratory well (A2b), which was drilled on Block CPO-9, in Meta, Colombia.

Senate debates, then barely rejects, Keystone XL approval bill

Nov 24, 2014

The US Senate finally debated a bill authorizing construction of the proposed Keystone XL crude oil pipeline on Nov. 18 before rejecting the measure by a single vote. Republicans vowed to bring the measure back once they assume majority control in January.

Statoil updates lackluster Barents Sea exploration program

Nov 24, 2014

Statoil ASA has wrapped up its 2013-14 exploration program in the Barents Sea-one that included a notable disturbance from environmental activists-with fewer commercial discoveries than the company had originally anticipated.

Cairn-led JV makes another oil discovery offshore Senegal

Nov 19, 2014

A well drilled offshore Senegal by a group led by Cairn Energy PLC will be plugged and abandoned following completion of logging operations, and will be appraised next year.

CNOOC makes oil find with Lufeng well in South China Sea

Nov 19, 2014

China National Offshore Oil Corp. Ltd. reported what it is calling a midsized oil discovery in the eastern part of the South China Sea.

Saudis have reasons better than shale to let prices fall

Nov 17, 2014

Only by overlooking important forces in markets and politics can anyone assert that Saudi Arabia is letting crude prices fall mainly to extinguish competition from North American shale oil.

Oil sands 2014-38 outlay to top $514 billion

Nov 17, 2014

Total investment in Canadian oil sands projects during 2014-38 will exceed $514 billion (2013 Can.), according to the Canadian Energy Research Institute (CERI).

Obama determined to let Keystone XL review process 'play out'

Nov 17, 2014

US President Barack Obama reiterated his stance on Nov. 5 that the proposed Keystone XL crude oil pipeline's ongoing cross-border permit review process should be allowed to proceed amid suggestions that Republicans winning majority control of the Senate in elections a day earlier opens the way for congressional legislation on the matter to reach his desk.

Norske Shell finds gas with Ormen Lange appraisal well

Nov 14, 2014

Norske Shell found a 28-m gas column with an appraisal well in Ormen Lange field, the Norwegian Petroleum Directorate reported.

Group makes second oil find offshore Senegal

Nov 10, 2014

The group comprised of Cairn Energy, ConocoPhillips, and FAR Ltd. has made a second oil discovery offshore Senegal with the SNE-1 wildcat well.

WoodMac: High WCS-WTI price spread seen lingering

Nov 10, 2014

Growing production of Canadian heavy crude oil and problems delivering the new supply to distant markets will keep the discount of Western Canadian Select crude high against the West Texas Intermediate price, according to Wood Mackenzie.

Business mood dark as questions hover over UK offshore

Nov 10, 2014

Falling oil prices, rising costs, and looming political questions darken the business mood about the UK offshore.

Gas price uncertainty could defer projects, Niko says

Nov 4, 2014

Niko Resources Ltd., Calgary, says uncertainty regarding natural gas price premiums in India could cause deferral of development of certain discoveries.

Total encounters oil via Garantiana appraisal well in North Sea

Nov 3, 2014

Total E&P Norge AS encountered a 120-m total gross oil column with appraisal well 34/6-3 S in the Cook formation on production license 554, 30 km northeast of Visund field in the Norwegian North Sea. The company describes the reservoir quality as “very good.”

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