More Oil Discoveries News

GeoPark makes oil discovery in Colombia

Aug 28, 2015

GeoPark Ltd. has drilled and completed its Chachalaca 1 exploration well on Llanos 34 Block in Colombia. The company tested the 12,270-ft well, which produced 1,100 bo/d of 30° gravity oil with 6% water cut, the company said.

Cobalt to sell deepwater Angolan blocks

Aug 24, 2015

Cobalt International Energy Inc. has agreed to sell its interests in two blocks in deep water offshore Angola to state-owned Sonangol for $1.75 billion and will concentrate on appraisal and development of deepwater discoveries in the Gulf of Mexico.

Like Keystone XL, Energy East caught in a chokehold

Aug 24, 2015

Another important pipeline finds itself in a chokehold.

CERI: Lower demand, prices may trim near-term oil sands spending

Aug 24, 2015

Lower crude oil prices and reduced demand resulting from a global economic downturn could reduce Canadian oil sands capital expenditures through 2017, the Canadian Energy Research Institute said.

EIA: US crude output declines to continue through mid-2016

Aug 17, 2015

Total US crude oil production declined 100,000 b/d in July compared with June, and is expected to continue decreasing through mid-2016 before growth resumes late in 2016, according to the US Energy Information Administration's most recent Short-Term Energy Outlook (STEO).

Lundin strikes oil on Luno II North prospect

Aug 12, 2015

Lundin Petroleum AB, through its wholly owned subsidiary Lundin Norway AS, has discovered a gross 23-m oil column with its 16/4-9 S exploration well on the Luno II North prospect. The well is in a separate sub-basin northwest of the Luno II discovery in PL359 in the central North Sea sector of the Norwegian continental shelf.

WoodMac: Western Canadian liquids production on upward trajectory starting in 2016

Aug 12, 2015

Wood Mackenzie Ltd.'s breakeven review of more than 180 individual company assets in western Canada reveals significant variation in the economics of each core area.

Northwest Territories, NEB assess potential of Canol shale oil reservoir on Mackenzie plain

Aug 12, 2015

The Devonian Canol shale in Canada's Northwest Territories holds an estimated 145 billion bbl of oil in place while the thinner Bluefish shale contains an estimated 45 billion bbl OIP, Canada's National Energy Board and Northwest Territories jointly said.

WPX plans to resume Williston basin completions, boost rig count

Aug 12, 2015

WPX Energy of Tulsa cited lower well costs and a 25% increase in estimated ultimate recovery rates as it vowed to increase its activity in the Williston basin during the second half by resuming completions and increasing its rig count to three from one rig by Dec. 31.

Ecopetrol makes deepwater find offshore Colombia

Jul 30, 2015

Colombia’s Ecopetrol and its equal partner Anadarko Petroluem Corp. made a natural gas discovery with their Kronos-1 well, drilled in the deepwater Caribbean Sea offshore Colombia. The well encountered a 40-70 m net pay thickness of gas-bearing sandstones, the companies reported.

Michigan DEQ report urges ban of heavy oils in Mackinac Straits pipeline

Jul 27, 2015

Michigan's Department of Environmental Quality's Petroleum Pipeline Task Force issued a report that recommended that heavy crude and oil sands be kept out of an Enbridge Inc. pipeline that crosses the Mackinac Straits between Lakes Huron and Michigan.

URTeC: Unconventional innovation begins with data, investment

Jul 27, 2015

Operators should resist the impulse to pull back on investments in technology despite a down oil market, said Claudia J. Hackbarth, manager, unconventional gas and tight oil research and development, Shell International E&P Inc. during a July 20 luncheon speech at the Unconventional Resources Technology Conference (URTeC) in San Antonio. "Innovation is needed now more than ever."

The oil sand moose

Jul 27, 2015

Imagine a document entitled Canadian Energy Strategy in which the world "bitumen" does not appear. Or the phrase "oil sands." To be fair, the strategy produced by a committee of provincial premiers does acknowledge Canada's prominent place in global oil supply. But the emphasis is skewed.

Statoil’s Julius well discovers gas, condensate in King Lear area

Jul 23, 2015

Statoil ASA said its Julius exploratory well, drilled in the King Lear area of the Norwegian North Sea, has discovered gas and condensate (OGJ Online, Nov. 7, 2013).

BHP Billiton still interpreting deepwater Trinidad and Tobago seismic data

Jul 22, 2015

BHP Billiton, the operator of all of the deepwater blocks awarded by Trinidad and Tobago, has said it will decide how many wells it will drill based on its ongoing interpretation of the 20,000 sq km of seismic data it has collected in 2,500-8,500 ft of water.

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