More Oil & Gas Exploration and Development News

Rosneft, BP sign upstream, downstream agreements

Jun 19, 2015

OAO Rosneft agreed to sell BP PLC a 20% share of Taas-Yuryakh Neftegazodobycha in eastern Siberia for $750 million.

Wintershall to sell interests in five Norwegian fields

Jun 18, 2015

Wintershall Holding GMBH plans to sell interests in five Norwegian fields to Oslo-based Tellus Petroleum AS. The $602-million transaction is expected to close by yearend.

Drilling commences on Lithuanian Raseiniai license

Jun 17, 2015

Tethys Oil AB has spud the Bedugnis-1 well, which is targeting Silurian reefs at a total measured depth of 1,100 m. The Raseiniai license covers 1,535 sq km onshore Lithuania, and the three-well program is drawing from 80-sq km of 3D seismic data acquired in 2014.

Lundin Norway to drill Luno II North test

Jun 17, 2015

Lundin Norway AS will test Jurassic-Triassic sandstone with an exploratory well on the Luno II North prospect about 15 km south of Edvard Grieg oil and gas field under development in the Norwegian North Sea.

Poor BIA management has hindered tribal energy development, GAO says

Jun 16, 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.

Pemex makes shallow-water gulf oil find in first post-reform exploration success

Jun 15, 2015

Petroleos Mexicanos (Pemex) has discovered four oil fields in the shallow-water area off Tabasco and Campeche states, attributing the milestone to “new tools” provided by the nation’s recent energy reform.

Recognize industry know-how in US Arctic policies, API officials urge

Jun 15, 2015

US Arctic oil and gas policies should recognize the industry’s extensive global Far North experience and technology, American Petroleum Institute officials said. “If we don’t use this knowledge, other Arctic nations will move to the forefront of energy development there,” API Upstream Operations Director Erik Milito told reporters at a June 12 briefing.

EPA draft assessment finds no widespread harm to drinking water from fracturing

Jun 15, 2015

The US Environmental Protection Agency released a draft assessment June 4 of a study in which it concluded hydraulic fracturing activities have not led to widespread, systemic impacts on drinking water resources, although the agency said potential water vulnerabilities exist.

E&Y: US firms' capex, revenues, reserves up again in 2014, but cuts loom

Jun 15, 2015

US oil and gas companies reported increases across the board in capital expenditures, revenues, and reserves in 2014 as oil prices nearly halved during the second half, according to an annual oil and gas reserves study conducted by Ernst & Young unveiled in Houston on June 3.

SPE Conference: Heavy oil development requires long-term view, incoming president says

Jun 15, 2015

Speaking to a half-empty auditorium that reflected the tough economic environment of the North American onshore market, Janeen Judah, incoming president of the Society of Petroleum Engineers, addressed attendees June 10 at SPE Canada Heavy Oil Technical Conference in Calgary about the problems facing heavy oil.

One incident too many

Jun 15, 2015

Something about the safety of oil pipelines is wrong. When a pipeline leaks crude oil into California's Santa Barbara Channel, of all places, something is very wrong.

Lundin reports Alta appraisal results in Barents Sea

Jun 12, 2015

Lundin Norway AS and the Norwegian Petroleum Directorate reported results from two appraisal wells of the Alta oil and gas discovery in PL609 in the southern Barents Sea.

Study: Pennsylvania gas severance tax would reduce Marcellus horizontal drilling

Jun 12, 2015

A proposed natural gas severance tax in Pennsylvania would have negative economic consecutives, reducing the number of horizontal gas wells drilled and increasing job losses, said a Natural Resource Economics Inc., study released by the Associated Petroleum Industries of Pennsylvania (API-PA).

US Forest Service agrees to add a map to White River National Forest leasing plan, rejects most objections

Jun 12, 2015

A US Forest Service official rejected most objections raised by various groups regarding USFS's draft oil and gas leasing decision for the White River National Forest in western Colorado although Encana Corp. of Calgary was successful in its request to get a map included in the final decision.

Santos, Drillsearch make another Cooper discovery

Jun 12, 2015

Santos Ltd., Adelaide, and its joint venture partner Drillsearch Energy Ltd., Sydney, have made a natural gas discovery in the Cooper basin of South Australia with the eighth and final well of the current (2014-15) program in permit PEL513.

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