More Oil & Gas Exploration and Development News

OGJ Newsletter

Sep 15, 2014

International news for oil and gas professionals

Federal judge finds BP E&P negligent in Macondo crude oil spill

Sep 12, 2014

A nearly 5 million bbl crude oil spill following the 2010 Macondo deepwater well blowout in the Gulf of Mexico was the result of operator BP Exploration & Production Inc.'s gross negligence and willful misconduct, a federal district court judge ruled in New Orleans.

Senex, Beach JV makes oil discovery in Eromanga basin

Sep 12, 2014

A joint venture between Senex Energy Ltd. and Beach Energy Ltd. has made an oil discovery in its Martlet-1 wildcat in the Eromanga basin of South Australia.

Bohai Bay exploration well fails to yield hydrocarbons

Sep 10, 2014

Roc Oil (Bohai) Co., a wholly owned subsidiary of Roc Oil Co. Ltd., has drilled the QK11-1-1 exploration well on Block 09/05 in Bohai Bay off China, 15 km north of ROC’s existing Zhao Dong block.

Kuwait Energy makes oil discovery on Iraq’s Block 9

Sep 10, 2014

A consortium comprised of Kuwait Energy and Dragon Oil PLC has made an oil discovery on Block 9 in Northern Basra, Iraq.

DNO secures extension on Somaliland PSA

Sep 8, 2014

Norway’s DNO ASA has been granted a 2-year extension on the term of its production-sharing agreement for the 12,000-sq-km onshore Block SL18, 120 km east of Hargeysa, in Somaliland. The company says the first exploration period will now end Nov. 8, 2017.

Industry a target as inversions revive talk of tax reform

Sep 8, 2014

New talk in the US about tax reform should make oil and gas companies nervous.

Noble posts drilling results for Katmai, Dantzler prospects

Sep 8, 2014

Noble Energy Inc., Houston, has advanced its exploration and appraisal drilling operations on the Katmai prospect on Green Canyon Block 40 and the Dantzler prospect on Mississippi Canyon Block 782 in the deepwater Gulf of Mexico.

California lawmakers pass in-state gas system methane emissions bill

Sep 8, 2014

The California Senate passed a bill aimed at curbing methane emissions from intrastate natural gas pipelines and local distribution systems. SB 1371, which was approved by 23 to 11 votes on Aug. 27, passed the state's Assembly a day earlier by 57 to 20 vote

BLM announces California oil, gas strategy as CCST issues report

Sep 8, 2014

The US Bureau of Land Management's California state office announced a comprehensive strategy for its oil and gas program in the state after receiving an independent review of well stimulation technologies it asked the California Council on Science and Technology (CCST) to conduct in September 2013.

Deals with CNPC seen good for Russian firms

Sep 8, 2014

Russia's recent oil and gas deals with China, some of which have been questioned on the basis of pricing, are good for Russian companies overall, argues an analyst at Moody's Investors Service.

WRI: Shale oil, gas face tight competition for water

Sep 8, 2014

Governments and businesses trying to develop tight oil and gas resources could face intense competition for water that would be used in hydraulic fracturing, the World Resources Institute said in a recent report.

Fitch: Drilling downturn might prompt some consolidation

Sep 8, 2014

A cyclical downturn in offshore drilling might provide an opportunity for driller contractors having financial flexibility to buy their peers at favorable prices, Fitch Ratings of Chicago said in a recent research note, adding that master limited partnerships (MLPs) in particular can provide financial flexibility.

AU Energy to acquire Tullow Netherlands unit

Sep 5, 2014

AU Energy BV, a subsidiary of Mercuria Energy Group Ltd., has agreed to acquire Dutch operated and nonoperated L12/L15 block interests and nonoperated Q4 and Q5 block interests from Tullow Exploration & Production BV, a subsidiary of Tullow Oil PLC, for $81.1 million.

Statoil signs farm-in deals with Repsol for offshore Colombia

Sep 4, 2014

Statoil AS has signed farm-in agreements with Repsol for two licenses offshore Colombia.

Market Connection

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