More Oil & Gas Exploration and Development News

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.

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.

Watching Government: Texas bills clarify fracing roles

Apr 27, 2015

Lawmakers in Texas are weighing in on one oil and gas issue there this spring as their federal counterparts consider-and sometimes duck-ways to authorize more LNG and crude oil exports and other broader national questions.

OGJ Newsletter

Apr 27, 2015

International news for oil and gas professionals

EIA: Eagle Ford’s Eagleville oil field largest in US

Apr 24, 2015

The Eagleville oil field in South Texas, discovered only in 2009, is the largest in the US, according to a supplement to a report from the US Energy Information Administration called “US Crude Oil and Natural Gas Proved Reserves, 2013.”

USGS report aims to improve quake prediction from induced seismicity

Apr 24, 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. It said the models ultimately aim to calculate how often earthquakes are expected to occur in the next year, and how hard the ground will likely shake as a result.

MOL agrees to buy Ithaca Petroleum Norge

Apr 24, 2015

MOL Group has committed to drill three exploration wells offshore Norway during 2015-16 under an agreement to buy Ithaca Petroleum Norge from Ithaca Petroleum Ltd., part of Ithaca Energy, for $600 million.

Congressional Republicans see undue restrictions in 2017-22 OCS draft

Apr 23, 2015

Congressional Republicans—led by Senate Energy and Natural Resources Committee Chair Lisa Murkowski (Alas.) and House Natural Resources Committee Chair Rob Bishop (Utah)—urged US Interior Sec. Sally Jewell to offer more tracts in currently open US Outer Continental Shelf areas and begin leasing in areas now off-limits under the next 5-year OCS program.

CERAWeek: Evolutions of Pemex, YPF running parallel

Apr 23, 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.

Upper East Coast US Senate, House members oppose Atlantic leasing

Apr 23, 2015

Observing both Earth Day and the fifth anniversary of the Macondo deepwater well accident and crude oil spill, US Senate and House members—largely Democrats from Northeastern and Mid-Atlantic states—introduced bills to stop federal offshore oil and gas leasing off the Atlantic coast.

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