More Oil & Gas Exploration and Development News

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.

Buru awarded onshore Canning licenses

Jul 6, 2015

Buru Energy Ltd., Perth, and Mitsubish Corp. have been granted two production licenses for Ungani oil field in the onshore Canning basin of Western Australia.

Emerging producers offered guidelines for governance

Jul 6, 2015

Like most worthy endeavors, governing oil and gas activity at the national level is easier said than done-especially where oil and gas never before have been produced.

Earth model assists Permian asset valuation

Jul 6, 2015

Laredo Petroleum Inc.'s Permian-Garden City asset is an unconventional resource play with more than four potential stacked zones covering a 1,700 square-mile fairway in five counties in the Midland basin, Texas.

China's Yanchi area, western Ordos basin derived from mixed source

Jul 6, 2015

The Yanchi area lies in the west of China's Ordos basin and to the west of the giant Sulige gas field, site of recent breakthroughs in Lower Permian exploration.

Newfoundland, Labrador prepare for deepwater exploration

Jul 6, 2015

Canada-Newfoundland and Labrador Offshore Petroleum Board's (C-NLOPB) most recent call for bids for the Eastern Newfoundland Region is coming to a close Nov. 12, 2015.

Poor BIA management has hindered tribal energy development, GAO says

Jul 6, 2015

The US Bureau of Indian Affairs does not have data it needs to verify ownership of some Indian oil and gas resources, easily identify resources available for lease, or identify where leases are in effect, the Government Accountability Office said.

Group suggests principles for Alberta royalty review

Jul 6, 2015

The Canadian Association of Petroleum Producers (CAPP) has suggested that four principles guide Alberta in an oil and gas royalty review planned by a new center-left government in conjunction with a toughened approach to climate change.

US House committee leaders send letters to Plains, PHMSA about leak

Jul 6, 2015

US House Energy and Commerce Committee leaders from both parties asked Plains Pipeline LP and the US Pipeline and Hazardous Materials Safety Administration for more information following a Plains system rupture that leaked crude oil near Santa Barbara, Calif. (OGJ Online, May 20, 2015).

EIA: Argentina, China lead shale development outside North America

Jul 6, 2015

Argentina and China have respectively drilled more than 275 and 200 wells targeting shale plays over the past 2 years, providing each country with the potential to significantly increase production of shale gas and tight oil, the US Energy Information Administration highlighted on June 26 in an energy update.

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