More Oil & Gas Exploration and Development News

Deepwater prospects gain momentum off Morocco

May 4, 2015

Morocco's long-awaited offshore oil and gas development may soon be under way.

Oil Search decides on complete exit from Yemen

May 4, 2015

Sydney and Port Moresby-based Oil Search Ltd. has decided on a complete exit from its acreage in Yemen.

USGS report aims to improve quake prediction from induced seismicity

May 4, 2015

The US Geological Survey issued a report with preliminary outlines of models to predict severity of ground tremors in areas where sharp seismicity increases have been reported.

OGJ Newsletter

May 4, 2015

International news for oil and gas professionals

More rig day rate, fleet use declines seen

May 4, 2015

Drilling contractors, onshore and offshore, face further declines in day rates and fleet utilization this year as operators slash activity in response to a crude-price slump that shows no sign of early recovery, warns Fitch Ratings.

East Mediterranean Development-2 Narrowing opportunities require cooperation

May 4, 2015

Neighboring East Mediterranean states hold a mutual interest in economic developments resulting from new hydrocarbon resources. These interests should be harnessed to enhance security, increase stability, and accelerate political dispute resolution within the eastern Mediterranean.

CSIS forum: More cooperation needed to address Arctic challenges

May 4, 2015

More cooperation not just between government and the oil and gas industry, but with a broad range of residents and businesses inside and outside Alaska, is essential to address pressing infrastructure challenges there, speakers at a Center for Strategic and International Studies forum agreed.

GOM REVENUE SHARING-3 Forecast sheds light on GOMESA Phase II expected revenues

May 4, 2015

The second phase of Gulf of Mexico Energy Security Act of 2006 (GOMESA) revenue sharing will begin in 2017 and specifies that 37.5% of qualified revenues from Outer Continental Shelf (OCS) leases issued after Dec. 20, 2006, will be shared with gulf producing states, subject to an annual cap of $375 million.

CERAWeek: Evolutions of Pemex, YPF running parallel

May 4, 2015

Chief executives of Mexico's Petroleos Mexicanos (Pemex) and Argentina's YPF SA are both seeing energy reforms within their respective countries, and both emphasize the need for investment from international oil and gas companies to achieve their new goals.

Central Tunisia discovery yields 4,300 b/d

May 1, 2015

The Chouchet El Atrous-1 (Cat-1) well, drilled by Mazarine Energy Tunisia BV in the Zaafrane permit in central Tunisia, has discovered two net oil-bearing reservoirs with combined 38-m net pay. Primary objectives of the Cat-1 were to test the Ordovician El Hamra and El Atchane formations. Each zone has confirmed 19-m net pay.

Kina spuds first well in northern Papua New Guinea in decades

May 1, 2015

Papua New Guinea-focussed Kina Petroleum Ltd. has begun drilling its Raintree-1 wildcat in the northern part of that country.

Chevron makes gas discovery near Gorgon

Apr 30, 2015

Chevron Australia has made a natural gas discovery with its Isosceles-1 wildcat drilled in the greater Gorgon gas project area offshore Western Australia.

Third extension well in Moita Bonita area confirms light oil

Apr 29, 2015

Petroleo Brasileiro SA (Petrobras) has concluded drilling well 3-BRSA-1296-SES in the BM-SEAL-10 concession of the Sergipe basin, confirming the presence of light oil with reservoirs showing good porosity and permeability.

Kosmos makes gas find offshore Mauritania

Apr 27, 2015

Kosmos Energy Ltd., Dallas, reported that the Tortue-1 exploration well, drilled on Block C-8 offshore Mauritania, intersected 351 ft of net hydrocarbon pay in the primary Lower Cenomanian objective, based on preliminary analysis of drilling results and intermediate logging to a depth of 4,630 m.

Symbols in Sect. 526

Apr 27, 2015

Reintroduction of a bill to repeal Sect. 526 of the Energy Independence and Security Act comes at a fateful time.

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