Futures Markets
Another decline for crude prices
Crude oil prices fell again on Wednesday after the US Energy Information Administration reported that crude oil and distillates inventories were up much more than had been expected in the week ending 25 April and on yet another interest rate cut from the Federal Reserve in the United States.
Inventories of crude oil were up 3.8 […]
Fox Petroleum hires drilling rig
Fox Petroleum Inc. has signed a Letter of Commitment (LOC) with Senergy, an international integrated oil services company, to utilize the Byford Dolphin semi-submersible drilling rig to drill a well on the company’s Bourbon prospect. Fox has secured the drilling rig for a 22-day slot in the fourth quarter of 2008. Fox Petroleum has a […]
RIL plans JV with Pan Andean
Pan Andean, the AIM listed oil and gas producer, is pleased to announce that it has signed an agreement with Reliance Industries, India’s largest private sector enterprise with businesses in the energy and materials value chain, to farm into Block 141 in the high plateau of Peru. This move is in line with the stated […]
Nexen restarts North Sea production
Nexen Inc. announced today that following the restart of the Forties pipeline system, it has recommenced production from its North Sea fields, which include Buzzard and Scott/Telford.
Production is ramping up in accordance with directions provided by the pipeline operator and we are awaiting clearance to increase production rates. We expect to be back to […]
Falling demand sends crude prices lower
Evidence of declining demand and an expectation that Wednesday’s US inventories report from the Energy Information Administration will show increased stockpiles sent crude oil prices substantially lower on Tuesday.
A report from the US Energy Department showed that demand for gasoline was down 6.2 percent in the United States in February from January, while overall demand […]
WTI nears $120 per barrel before retreat
Crude oil prices were up again on Monday on supply worries after a North Sea pipeline was closed due to a refinery strike in Scotland.
A separate strike in Nigeria, added to a pledge by militants there to continue attacks on oil facilities, also contributed to the higher prices.
West Texas Intermediate crude was up 18 cents […]
ATP marks two deepwater discoveries
ATP Oil & Gas Corporation recently participated in the drilling of two successful exploration wells in the deepwater Gulf of Mexico. The Gladden Prospect, located at Mississippi Canyon 800 in approximately 3,116′ of water, found 80 feet of net oil pay.
An updip location is being drilled that is expected to be completed in late […]
Serica Energy completes Kambuna wells
Serica Energy plc provides an update on development activities in the Kambuna field, offshore North Sumatra, Indonesia.
Serica has completed drilling the Kambuna #4 development well. Kambuna #4 is a deviated well drilled from the wellhead platform at the Kambuna #2 location in the north of the field to a subsurface location 2,180 metres to the […]
Talisman sells Denmark assets
A wholly-owned subsidiary of Talisman Energy Inc. has entered into an agreement with Norwegian Energy Company ASA (Noreco) to sell all of its shares in Talisman Oil Denmark Limited for a consideration of US$83 million.
As we move into the early phases of Talisman’s new strategy, we will focus our portfolio on our core areas, said […]
Eni announces new discovery
Eni successfully completed drilling and testing operations of well 34/12-1, on the new Afrodite gas/condensate discovery in Norway. The well is located in the offshore licence PL293, at a water depth of 373 metres in the Norwegian North Sea, some 165 km West of Bergen.
Eni is operator of the project with an equity stake of […]
Transeuro updates Ukraine well
Transeuro Energy Corp. provides an update of operations at the Karlavskoye 101 well.
While completing a downhole surge test of the upper sections of the reservoir, Transeuro has produced the first gas to surface from the Karlavskoye 101 well. The test is a requirement of the Ukraine government regulations and the result physically confirms the presence […]
Entek awarded GoM block
Entek Energy Limited has received notice from the United States Department of the Interior — Minerals Management Service, that its bid offered March 19, 2008 for Main Pass Area, South & East Addition, Block 252 (MP-252), has been accepted.
MP-252, located in 77 metres (253 feet) of water, contains a proven, but incompletely produced natural gas […]
Salamander updates Gurame-1X drilling
Salamander Energy announces that the Gurame-1X well has been drilled by the Ensco-1 barge mounted rig to a total depth of 3,010 metres. Gurame-1X is located in the Seruway PSC (Salamander working interest 22.5%), offshore North Sumatra.
Both the shallow Seurula and Keutapang (“S/K”) and the deeper Baong formations were targeted with the Gurame-1X well and […]
PA Resources Congo acquisition
The oil- and gas company PA Resources AB has now formally closed the acquisition of license shares in the exploration license Mer Profond Sud and the Azurite field in the Republic of Congo (Brazzaville).
On April 21st, 2008, PA Resources AB formally closed the transaction relating to the previously announced acquisition of 35 percent in […]
Park Place commences production
Park Place Energy Corp. says that the Operator of its Eight Mile North Property in N.E. British Columbia, has placed the 7-8 81-17 W6M Doig Discovery Gas Well on production at an initial rate of approximately 4 million cubic feet of gas / day (”mmcf/d”) plus 60 barrels of liquids with no associated water. The […]
Kodiak completes seismic acquisition
Kodiak Energy, Inc. provides an operations update relative to its New Mexico project.
The New Mexico exploration program, located in northeastern New Mexico, continues to be on schedule. The program consists of drilling, testing and seismic operations. Kodiak is operator and 100% working interest owner of this high impact project, currently comprising approximately 62,000 acres with […]
FX Energy starts Kromolice drilling
FX Energy, Inc. announces that drilling operations are underway on the Company’s Kromolice North well in western Poland. The well is the second of four exploratory wells the Company expects to drill this year in Poland.
The Kromolice North well is intended to test an interpreted Rotliegend sandstone structure at a depth of 3,670 meters. […]
Leni increases interest in Spain
Leni Gas & Oil plc has acquired the remaining 11.25% of the onshore Ayoleungo oil field in Northern Spain from Gold Oil Plc for €315,211.
The Ayoleungo oil field has already produced over 17 million barrels of oil and at present produces about 135 barrels of oil per day.
The Ayoleungo Field, was discovered in […]
StatoilHydro’s Kårstø job for Aibel AS
A contract initially worth NOK 470 million for electrical and instrumentation work at the Kårstø plant has been awarded to Aibel AS by StatoilHydro on behalf of operator Gassco.
This job forms part of the Kårstø expansion project 2010 (KEP2010) at the gas and condensate processing facility north of Stavanger. It embraces excavation of cable trenches, […]
Halliburton awarded Manifa project
Halliburton has been selected to provide a variety of oilfield services in support of the offshore portion of Saudi Aramco’s Manifa mega-project. The Manifa project has a production target of 900 MBCD (thousand barrels of oil per calendar day), making it Saudi Aramco’s second largest incremental oil production project.
The three-year contract calls for the […]