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.

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.

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 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.

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 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 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 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.

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

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.

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 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 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.