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More Oil & Gas Exploration and Development News

Alberta Oil Sands inks Algar Lake farmout

Jun 6, 2013

Alberta Oil Sands Inc. (AOS), Calgary, has entered a farmout agreement with privately held Crescendo Resources Ltd. that will advance exploration of its Algar Lake oil sands prospect in Alberta.

BPTT, BHP Billiton to jointly acquire seismic off Trinidad and Tobago

Jun 6, 2013

BP Trinidad & Tobago (BPTT) reported that it will conduct joint seismic surveys with BHP Billiton on its deepwater blocks off Trinidad and Tobago’s eastern coast.

Interior gives more time for comments on frac rule proposal

Jun 6, 2013

Oil and gas producers will have another 60 days to comment on the US Bureau of Land Management’s latest proposed regulations for hydraulic fracturing operations on onshore public lands, US Interior Secretary Sally Jewell announced.

Vietnam: Third prospect, gas potential seen on Block 120

Jun 6, 2013

A third prospect has been identified on Eni Vietnam BV-operated Block 120 offshore southeast of Da Nang, Vietnam, from 500 sq km of 3D seismic shot in mid-2012, said partner Neon Energy Ltd., Perth.

Albania: Petromanas updates Shpirag, drops Blocks A-B

Jun 6, 2013

Petromanas Energy Inc., Calgary, has won Albanian government approval for three more exploratory well locations on Blocks 2-3 and has chosen not to enter the third exploration phase on Blocks A-B in Albania.

Statoil recommends Johan Castberg project delay

Jun 5, 2013

Statoil, citing resource and political uncertainties with the Johan Castberg oil development it operates in the Barents Sea offshore Norway, has recommended that the partners delay the investment decision.

Tecpetrol, PetroNova extend Llanos oil discovery

Jun 5, 2013

Tecpetrol Colombia and PetroNova Inc., Calgary, have tested oil at a stepout from a 2012 oil discovery on the CPO-7 block in the Llanos basin in Colombia.

Barclays: Global E&P spending to reach record high in 2013

Jun 4, 2013

Global exploration and production spending is forecast to reach a record $678 billion this year, a 10% increase over last year, according to a recent global E&P spending update report from Barclays.

E&Y: US E&P spending reaches new heights

Jun 4, 2013

US oil and gas producers boosted exploration, development, and acquisition spending in 2012 despite a steep decline in aftertax profits driven largely by low natural gas prices, Ernst & Young reported June 4 in the latest issue of its US oil and gas reserves study.

Tunisia: DNO International to add Tunisian blocks

Jun 4, 2013

A unit of DNO International ASA, Oslo, has taken a farmout on the Sfax Offshore exploration permit and the Ras El Besh concession in Tunisia from Atlas Petroleum Exploration Worldwide Inc. and Eurogas International Ltd.

Jubilant, GAIL gauge two-zone Tripura gas find

Jun 3, 2013

Jubilant Energy NV said a subsidiary has submitted two notices of discovery to Indian authorities for the Lower and Middle Bhuban formations at its North Atharamura-1 well on Tripura Block AA-ONN-2002/1 in northeastern India.

Namibia: HRT spuds second Walvis basin wildcat

Jun 3, 2013

A group led by a unit of HRT Participacoes em Petroleo SA, Rio de Janeiro, has spudded the Murombe-1 exploratory well on PEL 23 in the Walvis basin offshore Namibia.

Ukraine: Cub Energy spuds well, finals acquisition

Jun 3, 2013

KUB-Gas LLC, in which Cub Energy Inc., Houston, has a 30% effective ownership interest, has spudded the North Makeevskoye-3 exploratory well on its properties in eastern Ukraine.

Useful data lurk in seismic inelasticity, nonlinearity

Jun 3, 2013

Measurements of productive and dry wells, when correlated with actual processed seismic data from many fields, have shown that oil and gas deposits have both increased attenuation and dispersion of the phase velocity of longitudinal waves.

Ukraine's gas upstream sector: focus on international investment

Jun 3, 2013

Ukraine depends to a large extent on natural gas imports, which are mainly met by one external supply source.

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