More Oil & Gas Exploration and Development News

Nile Delta gas strike due on production

Jul 20, 2015

Eni SPA said a natural gas discovery on the Nooros prospect in Egypt will be placed on production at an unspecified rate within 2 months.

URTeC: Panel sees resiliency in unconventional space

Jul 20, 2015

Panelists commented on future recovery of oil prices and the growth of unconventional drilling, then took questions from an overflow audience during the opening plenary session of the Unconventional Resources Technology Conference (URTeC) in San Antonio July 20.

BHI: US rig count falls 6 units to 857

Jul 17, 2015

The US drilling rig count fell 6 units to reach 857 during the week ended July 17, essentially cancelling out the last 3 weeks’ worth of gains, according to data from Baker Hughes Inc.

Aussie, Timor-Leste regulators terminate Timor Gap permit

Jul 17, 2015

Regulators in Australia and Timor-Leste have now formally terminated Timor Gap production-sharing contract JPDA 06-103, which leaves Australian companies Pan Pacific Petroleum NL (PPP), Sydney, and Oilex Ltd., Perth, in breach of their obligations and facing a possible financial liability.

ENOC trims Turkmen plan in Dragon takeover

Jul 16, 2015

Emirates National Oil Co. Ltd. (ENOC), Dubai, will lower target oil production from the Cheleken area offshore Turkmenistan after acquiring full control of Dragon Oil PLC as it expands into upstream oil and gas operations.

Mexican round nets two successful bids

Jul 16, 2015

Two of 14 shallow-water blocks received successful bids on July 15 in Mexico’s historic Round One offering of exploration and production rights (OGJ Online, Dec. 19, 2014). A joint venture of Talos Energy LLC, Houston; Sierra Oil & Gas, Mexico City; and Premier Oil PLC, London, submitted both bids.

Rosneft, Statoil drill two horizontal wells in pilot at North Komsomolskoye

Jul 14, 2015

OAO Rosneft and Statoil ASA have jointly drilled two horizontal exploitation wells in the PK1 layer of North Komsomolskoye field, Rosneft reported.

Total unveils development sites for renamed Papua LNG project

Jul 13, 2015

Total SA and its joint venture partners Oil Search Ltd. and InterOil Corp. have announced key infrastructure sites for development of the proposed Elk-Antelope LNG project in Papua New Guinea, now dubbed the Papua LNG project (PLNG).

WAFWA: Aerial survey finds lesser prairie chicken population grew

Jul 13, 2015

A recent range-wide aerial survey found the lesser prairie chicken population rose 25% from 2014 to 2015, the Western Association of Fish & Wildlife Agencies (WAFWA) reported. The bird's habitat lies in five US Midcontinent states with oil and gas production.

Moody's: Macondo settlement seen 'positive' for BP

Jul 13, 2015

BP Exploration & Production Inc.'s recent agreement to settle federal and state claims related to the 2010 Macondo blowout and spill improves the company's financial outlook, according to Moody's Investors Service.

BP to settle federal, state Deepwater Horizon claims for $18.7 billion

Jul 13, 2015

BP Exploration & Production Inc. has agreed in principle to settle all federal and state claims arising from the 2010 Deepwater Horizon incident and subsequent oil spill with payments over 18 years totaling $18.7 billion.

CERI: Energy, operational efficiencies possible in Canadian oil, gas

Jul 13, 2015

Measures can be taken by operators in the expanding resource-intensive Canadian oil and gas sector to improve both energy efficiency and operational efficiencies, according to a report from the Canadian Energy Research Institute (CERI).

MOL completes Ithaca Norge acquisition

Jul 9, 2015

MOL Group, Budapest, has completed its acquisition of Ithaca Petroleum Norge from Ithaca Energy Inc. for $60 million plus possible bonuses of up to $30 million if exploration is successful.

Stone confirms oil pay with Cardona development well in deepwater gulf

Jul 8, 2015

Stone Energy Corp., Lafayette, La., encountered 288 ft of net pay in two intervals with its Cardona No. 6 development well on Mississippi Canyon Block 29 in the deepwater Gulf of Mexico. Logging and pressure data confirmed the existence of oil in the pay zones.

WAFWA: Aerial survey finds lesser prairie chicken population grew

Jul 6, 2015

A recent range-wide aerial survey found the lesser prairie chicken population rose 25% from 2014 to 2015, the Western Association of Fish & Wildlife Agencies (WAFWA) reported. The bird’s habitat lies in five US Midcontinent states with oil and gas production.

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