More Oil & Gas Exploration and Development News

Petrobras completes exploration well in TOR area of Santos basin

May 9, 2014

Brazil’s state-owned Petroleo Brasileiro SA (Petrobras) reported that it has completed drilling the last exploration well in the Transfer of Rights (TOR) area in the Santos basin presalt.

Associations raise concerns in Atlantic OCS G&G comments

May 8, 2014

The US Bureau of Ocean Energy Management’s preferred alternative for new geologic and geophysical (G&G) activity on the South and Mid-Atlantic Outer Continental Shelf contains arbitrary and unnecessary restrictions, three national oil and gas associations said on May 7.

Alaska receives 43 bids in Cook Inlet, peninsula lease sales

May 8, 2014

The Alaska Division of Oil & Gas reported receiving 43 bids from companies and investors hoping to secure state leases during the Cook Inlet and Alaska Peninsula oil and gas lease sales on May 7.

Study targets area off Australia, Indonesia

May 8, 2014

Petroleum Geo-Services said an international seismic study has improved understanding of regional stratigraphy and basin development in an area offshore eastern Indonesia and northern Australia.

OTC: Pemex preparing for cultural transition as Mexico reforms energy laws

May 6, 2014

Mexico’s Petroleos Mexicanos (Pemex) is preparing for a major cultural transition while the country’s government moves to implement energy reforms ending a 75-year monopoly on discovering and developing oil and gas, a Pemex executive told the Offshore Technology Conference on May 6.

OTC: Nova Scotia seeks bids in active eastern Canada offshore

May 6, 2014

Exploration and development remain brisk offshore eastern Canada, provincial officials reported May 6 at the Offshore Technology Conference in Houston.

Falcon farms out portion of Beetaloo basin permits

May 6, 2014

Falcon Oil & Gas Ltd., Dublin, has farmed out a portion of its exploration permits in the Beetaloo basin onshore Northern Territory to South Africa’s Sasol and Origin Energy of Sydney.

OTC: Ocean-bottom seismic improves resolution for offshore subsurface

May 5, 2014

Streamer technology is not new, however, it has gone through many advances within the last 30 years. In 1980, 120 channels were considered advanced for a typical streamer run when shooting offshore seismic. “Today, we see 10,000 channels towed behind a single boat,” said David Monk, director, geophysics and distinguished advisor, Apache Corp.

Mexico's subsurface presents new E&P opportunities

May 5, 2014

Sweeping changes to Mexico's hydrocarbon laws will open the country for private operators to invest in oil and gas exploration and production and to book reserves secured by a variety of contracts.

Lundin Norway drills Johan Sverdrup appraisal wells

May 2, 2014

Lundin Norway AS, a wholly owned subsidiary of Lundin Petroleum AB, has drilled two appraisal wells in the Johan Sverdrup area in the North Sea’s Norwegian continental shelf.

Statoil: Johan Castberg fails to deliver oil volume expectations

May 2, 2014

Statoil ASA and its PL532 partners concluded the 2013-14 Johan Castberg field exploration program by making an oil and gas discovery in the Drivis prospect in the Barents Sea. However, it represented just the second oil discovery in the field, falling beneath Statoil’s volume expectations.

BP plans to exit Utica shale

May 1, 2014

BP America reported that it will not proceed with development of its nearly 100,000 acres of leasehold in the emerging Utica shale in Ohio.

Madagascar: OMV farms into onshore blocks

Apr 30, 2014

OMV AG reported it will acquire 35% participating interest in Madagascar onshore Blocks 3109 and 3111 from Tullow Oil PLC, which will retain 65% and continue as operator. The transaction is subject to approval from Madagascar’s government.

Bakken field production reaches 1 billion bbl mark

Apr 28, 2014

Citing data from IHS, Continental Resources Inc. reported that Bakken field has surpassed 1 billion bbl of cumulative light, sweet crude oil production during this year’s first quarter.

Stone discovers oil in deepwater Cardona South well

Apr 28, 2014

Stone Energy Corp., Lafayette, La., encountered more than 275 ft of net oil pay in three separate sections of the deepwater Cardona South well on Mississippi Canyon Block 29 in the Gulf of Mexico.

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