More Oil & Gas Reserves News

Lithuania: Tethys to buy oil producing, exploratory licenses

Jan 9, 2012

Tethys Oil AB, Stockholm, has agreed with Odin Energi AS to acquire interests in Lithuanian oil companies UAB Minijos Nafta and UAB LL Investicos.

Venezuela Perla gas sales pact signed, exports eyed

Jan 5, 2012

A Phase 1 final investment decision is the next step now that Eni, Repsol, and Petroleos de Venezuela SA have signed a gas sales agreement for commercial development of supergiant Perla gas-condensate field in the Gulf of Venezuela off Venezuela.

Tunisia: Candax adding interests in two oil fields

Jan 5, 2012

Candax Energy Inc., Calgary, will acquire interests in Ezzaouia and El Bibane oil producing fields in Tunisia from PA Resources AB, Stockholm, for $4 million, subject to partner and government approval.

Watching Government: Challenges for local governments

Dec 26, 2011

Many rural US communities facing economic pressures and high unemployment would welcome oil and gas resource development although it can challenge local governments, Daryl Dukard, commissioner of Dunn County, ND, said Dec. 7.

Lower Cleveland play grows along Oklahoma-Texas line

Dec 15, 2011

Operators have reported 28 horizontal completions in southern Ellis County, Okla., in the past 18 months in a low permeability play for oil and gas in the lower member of the Pennsylvanian Cleveland formation.

Anadarko group sanctions Lucius truss spar development

Dec 15, 2011

A group led by Anadarko Petroleum Corp. has sanctioned development of the Lucius deepwater discovery in the Gulf of Mexico using a truss spar with a capacity of 80,000 b/d of oil and 450 MMcfd of gas starting in 2014.

Gulfsands gauges Cretaceous oil discovery in Syria

Dec 14, 2011

Gulfsands Petroleum PLC has gauged light oil in the discovery of a satellite to Yousefieh field in Syria.

Gulfsands to develop Khurbet East Butmah oil in Syria

Dec 14, 2011

Syrian General Petroleum Co. has granted Gulfsands Petroleum PLC permission for commercial development of the Khurbet East Triassic Butmah formation in Syria 12 miles southwest of Souedieh oil field.

Louisiana chalk horizontal completions growing

Dec 9, 2011

Horizontal drilling in the Austin chalk formation is leading to more oil and gas completions along the Cretaceous trend in central Louisiana.

ONGC to develop fields off western India

Dec 6, 2011

Production is expected to begin in May 2014 from a cluster of oil and gas fields in the Mumbai High area offshore western India to be developed by state-owned Oil & Natural Gas Corp.

Worldwide oil production steady in 2011; reported reserves grow

Dec 5, 2011

Oil and Gas Journal's annual look at reported worldwide oil reserves shows an increase to 1.52 trillion bbl from 1.47 trillion in last year's survey (OGJ, Dec. 6, 2010, p. 46).

Mozambique gas bounty elevated to 30-50+ tcf

Nov 29, 2011

Deepwater wells off Mozambique have encountered an estimated 30 tcf to more than 50 tcf of natural gas in place, said Anadarko Petroleum Corp.

Noble sees giant East Mediterranean oil, gas potential

Nov 15, 2011

Noble Energy Inc. said it has identified 12 more prospects with more than 20 tcf of gross unrisked resource potential in the eastern Mediterranean that target sands equivalent to those it discovered at Tamar off Israel.

Repsol sees 927 million boe in Vaca Muerta so far

Nov 8, 2011

Repsol YPF said it has identified the existence of a recoverable 927 million bbl of oil equivalent, 80% oil, in Late Jurassic-Early Cretaceous Vaca Muerta shale on about 3.5% of its 12,000 sq km holdings in the Neuquen basin in Argentina.

Israel's offshore gas reserves poised to rise

Nov 7, 2011

Israel’s reserves of natural gas, now under development in the country’s Mediterranean offshore, are poised to rise substantially in the near future, according to a senior government official.

Market Connection

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January 26, 2015
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