More Oil Discoveries News

Kosmos well establishes gas, condensate potential of Laayoune basin off Morocco

Mar 2, 2015

A noncommercial gas and condensate discovery offshore Morocco establishes exploratory potential of the frontier Laayoune basin, reports operator Kosmos Energy.

Evolving PSC offers insight into Mexico's legal framework

Mar 2, 2015

The Mexican National Hydrocarbons Commission (CNH) on Mar. 13 will publish a revised draft of the production-sharing contract (PSC) it proposed last Dec. 11 for exploration and production rights covering 14 shallow-water areas to be offered in the first phase of Round One bidding.

IHS: Crude transported by Keystone XL would be consumed in US

Mar 2, 2015

Most, if not all, of the crude oil that would be transported via the proposed Keystone XL pipeline to the US Gulf Coast would not be exported, and the vast majority of refined product-about 70%-derived from it would be consumed in the US, according to a recent report by IHS.

Smart phone technology enhances field studies

Mar 2, 2015

Throughout northern Oklahoma and Kansas, the Mississippian Lime has emerged as a significant unconventional oil play.

Marathon revises down budget by 20%

Feb 27, 2015

Marathon Oil Corp., Houston, has reduced its capital, investment, and exploration budget for 2015 by another 20% to $3.5 billion.

UKCS report cites need for deep cost cuts

Feb 27, 2015

The struggling producing industry on the UK Continental Shelf needs deep cost cuts, according to the Oil & Gas UK's Activity Survey 2015.

Partners submit Johan Sverdrup development plan

Feb 23, 2015

Partners Statoil ASA, Lundin Petroleum AB, Petoro, Det Norske Oljeselskap ASA, and Maersk Oil have submitted a plan for development and operation (PDO) for Phase 1 of Johan Sverdrup field to the Norwegian Ministry of Petroleum and Energy.

TransCanada challenges EPA's comments on Keystone XL SEIS

Feb 23, 2015

TransCanada Corp. responded critically to the Feb. 2 comment letter from the US Environmental Protection Agency on the US Department of State's final supplemental environmental impact statement (SEIS) for the Keystone XL crude oil pipeline.

EPA offers new, twisted excuse to stall Keystone XL

Feb 16, 2015

Anyone puzzled by the delay in approval of the Keystone XL pipeline border crossing-running 6 years now, and counting-should read the Obama administration's latest rationale.

Oil-price collapse may aggravate producing nations' other problems

Feb 16, 2015

The recent global crude-oil price plunge could be aggravating underlying problems in Mexico, Colombia, and other Western Hemisphere producing nations, speakers suggested during a Feb. 4 discussion at the Woodrow Wilson International Center for Scholars.

Beach, Drillsearch make wet gas discovery in Cooper basin

Feb 11, 2015

A joint venture of Beach Energy Ltd. and Drillsearch Energy Ltd. has made a wet gas discovery with its Ralgnal-1 wildcat well in retention lease 130 (formerly PEL 106) in South Australia’s Cooper basin.

IHS: shale supply chain benefits diverse

Feb 10, 2015

A diverse group of supply-chain industries is benefitting from unconventional oil and gas development in the US, according to a study that IHS released last year.

The budget vision

Feb 6, 2015

Just because the budget proposed for fiscal 2016 by President Barack Obama mimics six predecessors in its treatment of oil and gas and again has no hope for congressional approval, the document merits concern.

Lundin finds gas in Zulu prospect offshore Norway

Feb 6, 2015

Lundin Norway AS, a wholly owned subsidiary of Lundin Petroleum AB, encountered Utsira formation sand with “very good reservoir quality” while drilling wildcat well 26/10-1 in PL674BS.

Petrobras finds oil accumulations with Campos basin’s Basilisco well

Feb 5, 2015

Petroleo Brasileiro SA (Petrobras) has discovered heavy oil accumulations at reservoir depths of 3,190 m and 3,521 m while drilling its Basilisco well in concession BM-C-35 of the Campos basin post-salt.

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