More Oil & Gas Exploration and Development News

Eni makes major oil discovery offshore Angola

Sep 17, 2014

Eni SPA has made an oil discovery on Block 15/06 in the Ochigufu exploration prospect offshore Angola. It is the 10th commercial oil discovery for the block, and is estimated to hold 300 million bbl of oil in place.

Kentucky: Daybreak furthers Twin Bottoms drilling campaign

Sep 15, 2014

Daybreak Oil & Gas Inc., Spokane, Wash., has drilled its 10th and 11th horizontal oil wells at the Twin Bottoms Field in Lawrence County, Ky.

AAPG ICE: Turkey sees early shale oil development

Sep 15, 2014

Turkey is slightly larger than the state of Texas geographically, yet the country has only seen 4,400 wells drilled since 1940. While Texas’ oil history goes back much further, the state has seen more than 1.5 million wells drilled through 2013. “Turkey is largely unexplored,” said Lee Muncy, vice-president, geosciences at TransAtlantic Petroleum Ltd., during the AAPG International Conference and Exhibition

AAPG ICE: ExxonMobil outlines international approach to unconventional development

Sep 15, 2014

Global energy demand is expected to increase 35% to 2040, translating to 120 billion boe/year, or nearly 350 million boe/d, stated Rocky Becker, vice-president, Europe-Caspian-Russia at ExxonMobil Exploration Co.

OGJ Newsletter

Sep 15, 2014

International news for oil and gas professionals

Federal judge finds BP E&P negligent in Macondo crude oil spill

Sep 12, 2014

A nearly 5 million bbl crude oil spill following the 2010 Macondo deepwater well blowout in the Gulf of Mexico was the result of operator BP Exploration & Production Inc.'s gross negligence and willful misconduct, a federal district court judge ruled in New Orleans.

Senex, Beach JV makes oil discovery in Eromanga basin

Sep 12, 2014

A joint venture between Senex Energy Ltd. and Beach Energy Ltd. has made an oil discovery in its Martlet-1 wildcat in the Eromanga basin of South Australia.

Bohai Bay exploration well fails to yield hydrocarbons

Sep 10, 2014

Roc Oil (Bohai) Co., a wholly owned subsidiary of Roc Oil Co. Ltd., has drilled the QK11-1-1 exploration well on Block 09/05 in Bohai Bay off China, 15 km north of ROC’s existing Zhao Dong block.

Kuwait Energy makes oil discovery on Iraq’s Block 9

Sep 10, 2014

A consortium comprised of Kuwait Energy and Dragon Oil PLC has made an oil discovery on Block 9 in Northern Basra, Iraq.

DNO secures extension on Somaliland PSA

Sep 8, 2014

Norway’s DNO ASA has been granted a 2-year extension on the term of its production-sharing agreement for the 12,000-sq-km onshore Block SL18, 120 km east of Hargeysa, in Somaliland. The company says the first exploration period will now end Nov. 8, 2017.

Industry a target as inversions revive talk of tax reform

Sep 8, 2014

New talk in the US about tax reform should make oil and gas companies nervous.

Noble posts drilling results for Katmai, Dantzler prospects

Sep 8, 2014

Noble Energy Inc., Houston, has advanced its exploration and appraisal drilling operations on the Katmai prospect on Green Canyon Block 40 and the Dantzler prospect on Mississippi Canyon Block 782 in the deepwater Gulf of Mexico.

California lawmakers pass in-state gas system methane emissions bill

Sep 8, 2014

The California Senate passed a bill aimed at curbing methane emissions from intrastate natural gas pipelines and local distribution systems. SB 1371, which was approved by 23 to 11 votes on Aug. 27, passed the state's Assembly a day earlier by 57 to 20 vote

WRI: Shale oil, gas face tight competition for water

Sep 8, 2014

Governments and businesses trying to develop tight oil and gas resources could face intense competition for water that would be used in hydraulic fracturing, the World Resources Institute said in a recent report.

Fitch: Drilling downturn might prompt some consolidation

Sep 8, 2014

A cyclical downturn in offshore drilling might provide an opportunity for driller contractors having financial flexibility to buy their peers at favorable prices, Fitch Ratings of Chicago said in a recent research note, adding that master limited partnerships (MLPs) in particular can provide financial flexibility.

Market Connection

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