More Oil & Gas Reserves News

BPZ reports oil production, reserves offshore Peru

Mar 5, 2012

BPZ Energy Inc., Houston, reported a 10.7 decline in proved crude oil reserves at the end of 2011 and early response to a gas cap reinjection program at Corvina field offshore Peru.

Southwestern to slash Fayetteville drilling, not flow

Mar 1, 2012

Southwestern Energy Co., Houston, will invest $1.1 billion in the Fayetteville shale play in Arkansas in 2012, down from $1.3 billion in 2011.

Grizzly reports May River resource estimate

Feb 29, 2012

Grizzly Oil Sands ULC said an independent analysis has identified 1.8 billion bbl of exploitable bitumen in place at the May River oil sands property in northern Alberta it has acquired from Petrobank Energy & Resources Ltd. Both companies are based in Calgary (OGJ Online, Feb. 1, 2012).

LINN Energy to buy BP's Hugoton holdings for $1.2 billion

Feb 28, 2012

LINN Energy LLC, Houston, will acquire BP America Production Co.’s in giant Hugoton field in southwestern Kansas for $1.2 billion with closing by Mar. 30.

Repsol Sinopec gauges Pao Campos presalt discovery

Feb 27, 2012

A Repsol Sinopec-led group has gauged oil and gas at a presalt discovery in the Campos basin offshore Brazil.

Horizon-Talisman to develop PNG Stanley gas-condensate

Feb 27, 2012

Horizon Oil Ltd., Sydney, said its board approved the final investment decision to develop a condensate recovery project at Stanley field in western Papua New Guinea subject to receiving debt financing on satisfactory terms.

USGS releases first ANS shale oil, gas resource estimates

Feb 24, 2012

The US Geological Survey estimated that Alaska’s North Slope contains up to 2 billion bbl of crude oil and 80 tcf of natural gas, which are technically recoverable from tight shale formations using currently available technology and industry practices.

Heidelberg confirmed, Anadarko eyes development

Feb 20, 2012

An appraisal well near the 2009 Heidelberg discovery in the deepwater Gulf of Mexico has confirmed the initial resource estimate of more than 200 million bbl of oil, said Anadarko Petroleum Corp.

Horizon-Talisman to develop PNG Stanley gas-condensate

Feb 16, 2012

Horizon Oil Ltd., Sydney, said its board approved the final investment decision to develop a condensate recovery project at Stanley field in western Papua New Guinea subject to receiving debt financing on satisfactory terms.

GeoPark acquires private Colombian explorers

Feb 15, 2012

GeoPark Holdings Ltd. has acquired Winchester Oil & Gas SA and La Luna Oil Co. Ltd., private exploration and production companies operating in Colombia, for $30 million cash adjusted for working capital.

 

Chesapeake contemplates exiting Permian basin

Feb 14, 2012

Chesapeake Energy Corp. recently received industry inquiries about a complete exit from the Permian basin, the company said Feb. 13, acknowledging that it might consider selling all its Permian basin assets if it were to receive a compelling offer.

SandRidge to acquire Dynamic Offshore

Feb 3, 2012

SandRidge Energy Inc., Oklahoma City, will acquire private Houston independent Dynamic Offshore Resources LLC for $1.275 billion including $680 million in cash and 74 million SandRidge common shares.

Tanzania Mnazi Bay hunt seeks larger gas supply

Feb 3, 2012

Maurel & Prom, Paris, has spudded the Ziwani-1 onshore exploratory well on the 756 sq km Mnazi Bay concession in the Rovuma basin in coastal Tanzania.

Lower Cook Inlet Cosmopolitan leases being acquired

Feb 2, 2012

Buccaneer Energy Ltd., Sydney, will acquire a 25% operated  working interest in the two main productive leases in the former Cosmopolitan Unit in Alaska’s Lower Cook Inlet from Pioneer Natural Resources Alaska Inc.

MEG Energy's Christina Lake reserves up 17%

Feb 2, 2012

MEG Energy, Calgary, said an independent analysis boosted its proved reserves of bitumen in the Christina Lake area of Alberta’s southern Athabasca region by 17% last year to 708 million bbl.

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