More Oil & Gas Reserves News

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.

Crown Point to acquire Antrim Argentina assets

Mar 26, 2012

The boards of Antrim Energy Inc. and Crown Point Ventures Ltd. have unanimously approved Crown Point’s acquisition of the assets of Antrim Argentina SA for $10.26 million cash and 35.7 million Crown Point common shares.

Gas target empty at Oseberg deeper pool oil find

Mar 23, 2012

A Statoil ASA group has made a small oil discovery in PL053 in the Oseberg Area Unit in the North Sea offshore Norway.

Lukoil lets West Qurna-2 development contracts

Mar 22, 2012

Lukoil Mid-East Ltd., operator of the West Qurna-2 oilfield development megaproject in southern Iraq, has signed several major contracts.

Tawke oil well tops 25,000 b/d from Cretaceous

Mar 21, 2012

The Tawke-16 well in the Kurdistan region of Iraq flowed at a combined rate of more than 25,000 b/d of oil from multiple zones tested separately, likely making it the field’s test well so far, said DNO International ASA, Oslo.

Ministry: Shale gas policy near for India

Mar 13, 2012

With a new assessment by the US Geological Survey in hand, India’s Ministry of Petroleum and Natural Gas is moving toward announcement of a regulatory regime for shale gas exploration and production.

Statoil group confirms Skrugard oil, gas discovery

Mar 6, 2012

A group led by Statoil ASA has confirmed its Skrugard oil and gas discovery in the Barents Sea, which will become the northernmost field development on the Norwegian Continental Shelf.

Premier gauges deeper gas at Anoa offshore Indonesia

Mar 5, 2012

Premier Oil PLC reported a flow of 17 MMscfd of gas from fractured Eocene-Oligocene Lama sandstones in Anoa oil and gas field on Natuna Sea Block A offshore Indonesia.

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