More Oil & Gas Reserves News

Australia's cash bidding proposal draws industry criticism

Dec 3, 2012

The Australian federal government proposes to reintroduce cash bidding as a basis for awarding offshore exploration acreage in some areas around the country.

BP doubles gas estimate at Savonette field off Trinidad and Tobago

Nov 20, 2012

BP PLC has discovered an estimated 1 tcf of natural gas offshore Trinidad and Tobago, doubling to 2 tcf the estimated gas in place in its Savonette gas field.

Industry tax preferences

Nov 5, 2012

Favorable tax options available to US oil and gas companies have been under siege throughout the Obama presidency and would remain so if former Massachusetts Gov. Mitt Romney won the general election Nov. 6. Romney stated his position in his second debate with Obama on Oct. 16, when he said he'd make industry preferences part of his broad review of deductions and credits subject to elimination in a program of tax reform.

Watching Government: How Norway avoided mistakes

Nov 5, 2012

Careful strategic decisions soon after crude oil was discovered off its coast in the 1960s helped Norway dodge the "resource curse" that often plagues other countries with similar sudden fossil energy wealth, a political advisor to the Labour party in Norway's parliament said on Oct. 25.

Lukoil hikes Caspian field oil reserves

Oct 31, 2012

Lukoil has increased its estimate of recoverable reserves for Yuri Korchagin oil field in the Caspian Sea offshore Russia by about 50% to 360 million bbl.

The use-it loser

Oct 29, 2012

A regrettable product of toxic politics is the durability of blatant falsehood. In his second debate with challenger Mitt Romney, President Barack Obama on Oct. 16 revived his administration's canard about foot-dragging by oil and gas operators on federal leases.

Watching Government: Are states better regulators?

Oct 3, 2012

Mitt Romney drew a clear line when he announced his campaign's energy policy on Aug. 23. The most important part of it led directly back to producing US states.

Sanchez lines up funds to quicken Eagle Ford program

Oct 1, 2012

Sanchez Energy Corp., Houston, will accelerate its 2012-13 drilling program in the Eagle Ford shale play, in which it holds 95,000 net acres in the volatile oil, black oil, and gas-condensate windows, with $144.6 million in proceeds from a private placement of preferred stock.

US SHALE OIL-GAS PRODUCTION POTENTIAL—3 (Conclusion): US shale oil output likely to offset decline from conventional fields

Oct 1, 2012

This is the third of three parts on the potential of domestic unconventional shale oil and gas production to displace oil imports to the US.

Market for transport fuels in the US will remain subject to diversification

Oct 1, 2012

Natural gas and oil from unconventional resource plays, rightly characterized as "revolutionary," will supplement but not necessarily dominate a market for transportation fuel that is likely to remain subject to long-term diversification.

Corridor details Anticosti shale exploration program

Sep 10, 2012

Corridor Resources Inc., Halifax, NS, provided further details of its 2012 program with Petrolia Inc., Rimouski, Que., to assess the potential of the Macasty shale on Anticosti Island in the Gulf of St. Lawrence offshore Quebec.

Major players

Sep 3, 2012

This week's issue of Oil & Gas Journal includes its OGJ150/OGJ100 special report. This massive annual report is a mainstay for many industry analysts, company executives, and financial market-movers who utilize the information to determine how companies fared over the past fiscal year.

New strategies on horizon for exploration companies

Sep 3, 2012

The last decade saw total new global O&G resource additions exceed consumption while yet-to-find estimates were revised significantly upwards.

US SHALE OIL-GAS PRODUCTION POTENTIAL—2: Shales can greatly cut oil imports if US gas markets are developed

Sep 3, 2012

This is the second of three parts on the potential of domestic unconventional shale oil and gas production to displace oil imports to the US.

Oil prices boost OGJ100 firms' 2011 earnings

Sep 3, 2012

The world's largest oil and gas producers reported improved financial results in 2011 from a year earlier, according to Oil & Gas Journal's annual survey of the 100 leading companies based outside the US. Stronger oil prices than those in 2010 bolstered the earnings of most of the companies featured in the report.

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