More Oil & Gas Exploration and Development News

BG drills dry holes near Knarr field in North Sea

Feb 17, 2015

BG Group has concluded drilling of wildcat wells 34/3-4 S and 34/3-4 A in production license 373 S, both of which the company now classifies as dry following data sampling and acquisition. The wells lie 5 km east of Knarr field in the northern North Sea.

Northern Territory selects Inpex in bid for onshore exploration

Feb 16, 2015

Australia’s Northern Territory government has selected Inpex Corp. for onshore oil and gas exploration in the Beetaloo basin, southeast of Darwin.

InterOil’s Antelope-5 intersects top reservoir higher than expected

Feb 16, 2015

The Antelope-5 appraisal well on PRL 15 in Papua New Guinea has intersected the top reservoir at 1,534 m, 230-m higher than operator Total SA’s reference case, InterOil Corp. reported on Feb. 16.

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.

CNOOC cuts capital budget, starts production from Jinzhou 9-3

Feb 16, 2015

CNOOC Ltd. is slashing its capital budget for 2015 by 26-35% to $11.25-12.86 billion compared with last year's budget. Capital expenditures for exploration, development, and production respectively account for 21%, 67%, and 10% of the budget.

BP trims capital budget by $4-6 billion

Feb 16, 2015

BP PLC plans an organic capital expenditure of $20 billion in 2015, down from the previous guidance of $24-26 billion. Total organic capital expenditure in 2014 was $22.9 billion, lower than its initial guidance of $24-25 billion.

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.

BOEM publishes second final SEIS for 2008 Chukchi Sea lease sale

Feb 13, 2015

The US Bureau of Ocean Energy Management published a fresh supplemental environmental impact statement for a Chukchi Sea federal oil and gas sale originally held in 2008 after a federal appeals court threw out the first SEIS on Jan. 22, 2014.

Horn Petroleum to reduce Puntland exploration program

Feb 13, 2015

Horn Petroleum Corp., Vancouver, BC, will reduce its presence in Bosaso, Puntland (Somalia), and will “refrain from any operational activity and associated expenditures pending a resolution of the political situation between the regional government of Puntland and the federal government of Somalia regarding the legitimacy of oil concession contracts,” the company said.

Groups object to White River National Forest draft leasing decision

Feb 12, 2015

The Western Energy Alliance, West Slope Colorado Oil & Gas Association, and Public Lands Advocacy jointly filed a formal objection to the US Forest Service’s draft oil and gas leasing decision for the White River National Forest in western Colorado.

InterOil wins arbitration over rights dispute with Oil Search

Feb 11, 2015

The International Chamber of Commerce arbitration panel in London has found in favor of InterOil Corp. in its battle with Oil Search Ltd. over preemptive rights in Elk-Antelope gas field in retention licence PRL 15 onshore Papua New Guinea.

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.

Continental Resources completes more Springer wells

Feb 10, 2015

Wells competed by Continental Resources Inc. last year reaffirmed the repeatability and growth potential of the Springer play in South Central Oklahoma Oil Province (SCOOP), said Harold G. Hamm, Continental chairman and chief executive officer.

Permian briefs

Feb 10, 2015

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.

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