More Oil & Gas Reserves News

Statoil groups eye next steps in Barents, North seas

May 10, 2012

Groups led by Statoil ASA plan to further explore the Barents Sea offshore Norway in the vicinity of the Skrugard and Havis discoveries while working toward a late 2018 production start for the Johann Sverdrup discovery in the North Sea west of Stavanger.

BP lets contract for second Mad Dog spar

Apr 30, 2012

BP Exploration & Production Inc. let a front-end engineering design contract to Technip for a spar hull and mooring systems for the second phase of development of deepwater Mad Dog oil and gas field in the Gulf of Mexico.

Obama forms unconventional gas interagency working group

Apr 23, 2012

US President Barack Obama issued an executive order establishing an interagency working group to coordinate federal policies to support safe and responsible US unconventional natural gas resource development.

Continued R&D essential to tap US tight oil, panel told

Apr 23, 2012

The successful recovery of oil and natural gas from previously inaccessible tight shales with hydraulic fracturing and horizontal drilling does not mean further research and development is unnecessary, experts told a US House Committee on Apr. 17.

USGS updates non-US oil, gas, NGL conventional resource estimates

Apr 19, 2012

The US Geological Survey estimates that the world’s undiscovered, technically recoverable conventional oil and gas resources outside the US total 565 billion bbl of oil, 5,606 tcf of natural gas, and 167 billion bbl of natural gas liquids, it said on Apr. 18.

Utah: Resolute, Navajos buy Denbury's Aneth interest

Apr 11, 2012

Resolute Energy Corp. and the Navajo Nation Oil & Gas Co. have acquired nonoperated assets in giant Greater Aneth oil field in the Paradox basin of Utah from Denbury Resources Inc., Plano, Tex., for $75 million.

Hilcorp to buy Marathon's Cook Inlet gas assets

Apr 10, 2012

Hilcorp Alaska LLC signed a definitive agreement to buy Marathon Oil Corp.’s assets in Alaska’s Cook Inlet, subject to required approvals, by the fall of 2012.

AGA estimates US gas reserves reached 300 tcf in 2011

Apr 4, 2012

US natural gas reserves reached record levels in 2011 as producers found and produced more gas than was consumed, the American Gas Association said.

Alaska: Buccaneer, BlueCrest to buy Cosmopolitan

Apr 3, 2012

Buccaneer Energy Ltd., Sydney, will acquire a 25% working interest in and become operator of the Cosmopolitan project in southern Cook Inlet offshore Alaska.

Shell, Nexen locate more oil in gulf Norphlet trend

Apr 2, 2012

Shell Gulf of Mexico Inc. and Nexen Inc. have demonstrated a contingent recoverable resource of 215 million bbl of oil equivalent in the Jurassic Norphlet formation in the northeast fault block of the Appomattox structure in the deepwater Gulf of Mexico, where they are conducting further exploration and appraisal activity and evaluating development concepts.

FOCUS: UNCONVENTIONAL OIL & GAS—Unconventional resource estimates subject to uncertainty, future costs

Apr 2, 2012

Unconventional resource estimates, especially US natural gas resource estimates, have escalated in recent years. Simultaneously, debate about the accuracy of particular shale play resource assessments also has escalated because these assessments have varied greatly among assessors.

Can't outsmart world markets

Apr 2, 2012

Some 30 years after Edwin Drake drilled the first oil well in 1859, an official in the US Geological Service declared that all the available crude in the world had been found.

Poland's shale nonstory

Apr 1, 2012

Press reportage of Poland's recent assessment of shale gas and shale oil resources set new highs in confusion and imprecision.

GeoPark acquires Hupecol assets in Colombia

Mar 28, 2012

GeoPark Holdings Ltd. has made a second acquisition in Colombia with the $75 million purchase of Hupecol Cuerva LLC, a private explorer that holds two Llanos basin blocks.

World class play seen in Argentina's Vaca Muerta shale

Mar 27, 2012

An investment of $25 billion/year is needed to develop the existing prospective resource attributed to the Vaca Muerta shale formation in Argentina’s Neuquen basin, according to remarks attributed to Repsol YPF SA, Madrid.

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