More Oil & Gas Exploration and Development News

NOIA president urges BOEM to hold Aug. 19 lease sale as scheduled

Aug 14, 2015

The US Bureau of Ocean Energy Management should ignore a call by groups to delay US Outer Continental Shelf Lease Sale No. 246 and hold it on Aug. 19 as scheduled, National Ocean Industries Association Pres. Randall B. Luthi said.

USGS assesses undiscovered resources in Cotton Valley Group

Aug 14, 2015

The Cotton Valley Group, which extends from South Texas to the Florida panhandle across the US Gulf Coast, could contain undiscovered mean volumes of 14 million bbl of oil, 430 bcf of conventional gas, 34,458 bcf of continuous gas, and a total of 391 million bbl of natural gas liquids, according to United States Geological Survey’s (USGS) most recent assessment.

BOEM to prepare SEIS for 2017 Central Gulf of Mexico lease sale

Aug 14, 2015

The US Bureau of Ocean Energy Management plans to prepare a supplemental environmental impact statement for the final Central Gulf of Mexico Planning Area oil and gas lease sale under the current five-year US Outer Continental Shelf program.

Lundin strikes oil on Luno II North prospect

Aug 12, 2015

Lundin Petroleum AB, through its wholly owned subsidiary Lundin Norway AS, has discovered a gross 23-m oil column with its 16/4-9 S exploration well on the Luno II North prospect. The well is in a separate sub-basin northwest of the Luno II discovery in PL359 in the central North Sea sector of the Norwegian continental shelf.

WoodMac: Western Canadian liquids production on upward trajectory starting in 2016

Aug 12, 2015

Wood Mackenzie Ltd.'s breakeven review of more than 180 individual company assets in western Canada reveals significant variation in the economics of each core area.

Northwest Territories, NEB assess potential of Canol shale oil reservoir on Mackenzie plain

Aug 12, 2015

The Devonian Canol shale in Canada's Northwest Territories holds an estimated 145 billion bbl of oil in place while the thinner Bluefish shale contains an estimated 45 billion bbl OIP, Canada's National Energy Board and Northwest Territories jointly said.

WPX plans to resume Williston basin completions, boost rig count

Aug 12, 2015

WPX Energy of Tulsa cited lower well costs and a 25% increase in estimated ultimate recovery rates as it vowed to increase its activity in the Williston basin during the second half by resuming completions and increasing its rig count to three from one rig by Dec. 31.

Beach exits Egypt, enters Cooper basin in Queensland

Aug 12, 2015

Beach Energy Ltd., Adelaide, has signed an agreement for the sale of its Egyptian subsidiary to UK-based Rockhopper Exploration PLC. The assets include a 22% interest in the Abu Sennan concession.

INPEX to drill well offshore Japan

Aug 12, 2015

INPEX Corp., Tokyo, will drill an exploratory well next year in the Korea Strait offshore southern Japan.

Uganda names 16 firms eligible for first licensing round

Aug 11, 2015

Uganda’s government has granted approval to 16 companies to bid on exploration rights for six blocks in the nation’s Albertine Graben region.

Pemex contract covers eight offshore fields

Aug 11, 2015

Pemex Procurement International has let a 3-year blanket engineering contract to Wood Group for work related to the potential development of five deepwater oil fields and three extra-heavy oil fields in the Gulf of Mexico.

Frontier Campeche seismic survey begins

Aug 10, 2015

Schlumberger has begun a multiclient seismic survey of frontier acreage of the offshore Campeche basin of Mexico using technology designed for subsurface complexity.

Clinton's energy goals point toward economic hazard

Aug 10, 2015

If Hillary Clinton becomes president of the United States and implements the energy policy she's now describing, she won't win a second term.

Nelson vows to block Murkowski's stand-alone crude oil bill

Aug 10, 2015

The US Senate Energy and Natural Resources Committee approved Chair Lisa Murkowski's (R-Alas.) bill to end the ban on exporting US-produced oil. But Sen. Bill Nelson (D-Fla.) immediately said he would try to block it procedurally because of the measure's provision expanding the number of coastal states sharing federal offshore oil and gas revenue.

Latest Edvard Grieg appraisal well hits oil pay

Aug 5, 2015

Lundin Norway AS, a wholly owned subsidiary of Lundin Petroleum AB, encountered a 66-m gross oil column in pebbly sandstone with medium-to-good reservoir quality while drilling appraisal well 16/1-23 S on Edvard Grieg field in the Norwegian North Sea.

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