More Oil & Gas Exploration and Development News

Eco Atlantic completes 3D seismic survey offshore Namibia

Nov 13, 2014

Eco (Atlantic) Oil & Gas Ltd. has completed 1,097 sq km 3D seismic work on its Cooper block in the Walvis basin offshore Namibia. PGS Geohysical Ltd. (PGS) shot the survey and is now in the processing stage.

Tullow cuts exploration budget amid falling oil prices

Nov 13, 2014

Falling crude oil spot prices have caused South Africa’s Tullow Oil PLC to cut its 2015 exploration and appraisal budget to about $300 million, placing more emphasis on development and production assets.

Investors await Mexico’s Round One bid terms

Nov 10, 2014

Investors and oil companies expect Mexico to release its bid terms any day now for its upstream bid round, Mayer Brown energy partner Dallas Parker and associate Gabriel Salinas said in a recent interview with Oil & Gas Journal.

Group makes second oil find offshore Senegal

Nov 10, 2014

The group comprised of Cairn Energy, ConocoPhillips, and FAR Ltd. has made a second oil discovery offshore Senegal with the SNE-1 wildcat well.

WoodMac: High WCS-WTI price spread seen lingering

Nov 10, 2014

Growing production of Canadian heavy crude oil and problems delivering the new supply to distant markets will keep the discount of Western Canadian Select crude high against the West Texas Intermediate price, according to Wood Mackenzie.

Watching Government: Looking beyond transparency

Nov 10, 2014

More transparency is essential to improve resource governance, speakers suggested at a Nov. 4 Brookings Institution discussion. But much more is needed, they quickly agreed.

Induced seismicity research effort identifies information gaps

Nov 10, 2014

A federally coordinated effort to determine whether oil and gas activities are related to growing reports of induced seismic activity has identified several information gaps that need to be closed, speakers said during an Oct. 30 briefing at the US Energy Association.

Report for API quantifies new technologies' 2013 US economic benefits

Nov 10, 2014

Innovations in hydraulic fracturing and horizontal drilling that have driven the energy renaissance in the US were responsible for about 48% of the nation's crude oil production and shaved as much as 94¢/gal off of fuel prices in 2013, according to a recent report commissioned by the American Petroleum Institute.

BOEM releases draft SEIS for 2008 Chukchi Sea lease sale

Nov 10, 2014

The US Bureau of Ocean Energy Management released a supplemental environmental impact statement (SEIS) for Outer Continental Shelf Leas Sale No. 193, which originally was held in 2008.

Business mood dark as questions hover over UK offshore

Nov 10, 2014

Falling oil prices, rising costs, and looming political questions darken the business mood about the UK offshore.

Statoil updates lackluster Barents Sea exploration program

Nov 7, 2014

Statoil ASA has wrapped up its 2013-14 exploration program in the Barents Sea—one that included a notable disturbance from environmental activists—with fewer commercial discoveries than the company had originally anticipated.

IPAA: Federal agency’s ESA prelisting proposal lacks assurances

Nov 7, 2014

A US Forest Service proposal on voluntary actions to manage species before they are listed under the federal Endangered Species Act falls significantly short, the Independent Petroleum Association of America said.

UK announces 134 awards in 28th offshore licensing round

Nov 6, 2014

The UK’s 28th offshore licensing round has resulted in the issuance of 134 licenses covering 252 blocks. The announcement was made by the UK Department of Energy and Climate Change.

Gas price uncertainty could defer projects, Niko says

Nov 4, 2014

Niko Resources Ltd., Calgary, says uncertainty regarding natural gas price premiums in India could cause deferral of development of certain discoveries.

ConocoPhillips to plug, abandon dry hole offshore Angola

Nov 4, 2014

ConocoPhillips has drilled the Kamoxi-1 exploration well to a total depth of 22,660 ft in Block 36 in the Kwanza basin offshore Angola. The well will be plugged and abandoned as a dry hole.

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