More Oil & Gas Exploration and Development News

Energy reform could unlock Mexico's shale resource potential

Apr 16, 2014

The oil and gas industry is watching with great interest as energy reforms unfold in Mexico. The country has taken the first steps toward opening its energy industry to outside investment that could unlock the potential of its massive unconventional resource.

Bakken leader Continental Resources drills deeper into Three Forks formation

Apr 16, 2014

The Bakken-Three Forks tight oil formation is already one of the top producing oil plays in the US, but leading operator Continental Resources Inc. believes there may be even more oil in place than previously thought in deeper benches of the Three Forks formation.

BP farms out deepwater blocks offshore Trinidad and Tobago

Apr 16, 2014

BP PLC has farmed out the majority interest of its two deepwater blocks offshore the east coast of Trinidad and Tobago to BHP Billiton Ltd., Melbourne. OGJ has confirmed that the deal was concluded just over a month ago and both companies have so far been tight lipped about it. However BP has now confirmed the deal in an e-mail response to questions from OGJ.

BOEM proposes Lease Sale 238 in western Gulf of Mexico

Apr 15, 2014

The US Bureau of Ocean Energy Management (BOEM) will offer 3,992 blocks over 21.4 million acres offshore Texas for oil and gas exploration and development in August’s western Gulf of Mexico Lease Sale 238.

Santos tests gas at Mt Kitty-1 in central Australia

Apr 15, 2014

The Santos Ltd.-operated wildcat Mt Kitty-1 in the Amadeus basin of central Australia has flowed gas on test from four zones in the target Heavitree formation below 2,140 m subsurface.

Seismic survey completed offshore Namibia

Apr 14, 2014

Pancontinental Oil & Gas NL, Perth, reports completion of a 3,000-sq-km 3D seismic survey on a license operated by Tullow Kudu Ltd. in the Walvis basin offshore Namibia.

Total, partners reach FID for Kaombo project off Angola

Apr 14, 2014

Total SA and its joint venture partners have made a final investment decision (FID) on development of the ultradeepwater Kaombo project on Block 32 about 260 km offshore Luanda, Angola, reducing its capital expenditure from $20 billion to $16 billion.

Old basins, new ideas

Apr 14, 2014

The accepted paradigms in today's exploration industry seem obvious yet in their origins were often difficult to understand. Historically, new geologic concepts have experienced relatively slow acceptance due to perceived high risks, unfavorable price environments, and a lack of enabling technologies.

Lukoil starts 2D seismic survey on Block 10 in Iraq

Apr 11, 2014

OAO Lukoil has started a 2D seismic survey on Block 10 in southern Iraq that is expected to cover 2,000 km within 16 months. BGP Inc. is the seismic contractor.

Statoil makes oil, gas discovery north of Valemon field

Apr 11, 2014

Statoil ASA, together with its Valemon unit partners, made an oil and natural gas discovery in the Valemon North prospect in the North Sea, just 10 km north of the companies’ planned Valemon installation.

Proved reserves of US crude oil reach 36-year high in 2012

Apr 10, 2014

US proved reserves of crude oil at yearend 2012 were estimated at 33.4 billion bbl, up 15.4% from 2011 and the highest since 1976, according to a report released Apr. 10 by the US Energy Information Administration.

GeoPark makes oil discovery in Colombia

Apr 9, 2014

GeoPark Ltd. reported the successful drilling and testing of the Aruco 1 exploration well on the Llanos Block 34 in the central Llanos basin in Colombia.

OMV to ramp up drilling in lower Austria

Apr 8, 2014

OMV AG reported it will drill as many as 24 wells this year along with 20 wells in 2015 and 2016, respectively, in the Weinviertel region of lower Austria. Fourteen of those projects involve exploration wells with additional production potential, the company said.

Large seismic survey starts offshore Norway

Apr 8, 2014

CGG has begun shooting the largest broadband multiclient seismic survey it has conducted in Northwest Europe and what it calls the largest multiclient 3D survey ever shot by any company offshore Norway.

E. Mediterranean gas work faces geopolitical hurdles

Apr 7, 2014

Full development of giant natural gas discoveries in the eastern Mediterranean Sea depends on solutions to tough geopolitical problems.

Market Connection

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