Venture completes Barbarossa gas field
Venture Production plc, a leading new generation oil and gas company based in Aberdeen, Scotland, has drilled and completed the Barbarossa gas field in the North Sea. Venture is the operator of the field with 90% stake. The field is located in Block 47/9c in the southern North Sea. Noble Julie Robertson jackup rig had [...]
WTI, Brent drop more than $6 per barrel
A report from the Organization of Petroleum Exporting Countries which predicts oil demand growth will slow next year and concerns about the US economy sent crude oil prices lower Tuesday. West Texas Intermediate crude for August delivery traded as high as $146.73 per barrel and as low as $135.92 per barrel during the session before [...]
DONG Energy increases stake in Hejre field
DONG Energy, one of Europe’s leading energy companies, has acquired another 10%stake from Bayerngas Norge AS (Bayerngas) for US$ 48 million in the Hejre license, making its total stake to 60% in the field. The transaction also included the acquisition of an 8% stake in the Hejre Extension license. The acquisition is subject to approval [...]
Emerald updates Colombian operations
Emerald Energy Plc has entered into a farmout agreement with Canacol Energy Inc., which allows Canacol to earn a 10% interest in the Ombu block by paying 100% of the cost of drilling and testing the Capella No.1 exploration well. Furthermore, Canacol have an option to earn an additional 5% interest in the block by [...]
WTI prices rise slightly
Crude oil prices were down slightly during the session Monday but August contracts for West Texas Intermediate crude ended 10 cents higher at $145.18 per barrel on the New York Mercantile Exchange after trading as low as $142.49 per barrel and as high as $146.37 per barrel. August contracts for Brent crude, which are set [...]
StatoilHydro resume production at Snohvit
Norway based StatoilHydro has resumed production from the Snohvit field in the Barents Sea, after extensive service work comprising 150,000 labour hours. The plant began producing liquefied natural gas on Thursday at about 60% of its design capacity. Morten Svenning and Sivert Vist, start-up managers at the Hammerfest LNG plant said, we are very pleased [...]
Kosmos updates Mahogany-2 well
Kosmos Energy, a privately held international oil exploration and production company primarily focused on exploration in West Africa, has conducted a second drillstem test of the Mahogany-2 appraisal well in the Jubilee Field offshore the Republic of Ghana. The company conducted the test at a flow rate of 4,448 barrels of oil per day (BOPD) [...]
Caza announces Glass Ranch discovery
Caza Oil and Gas, which is engaged in the acquisition, exploration, development and production of hydrocarbons in the Texas Gulf Coast (on-shore), south Louisiana, southeast New Mexico and the Permian Basin of west Texas regions of the United States of America, reports a discovery from that the Glass Ranch A #1 well in Upton County, [...]
WTI sets new record above $147 per barrel
Crude oil prices on the New York Mercantile Exchange rose to a new record at $147.27 per barrel Friday before falling back to close at $145.06, still a gain of $3.41 over Thursday’s close even though it missed a new closing record by a bit. Brent crude for August delivery added $1.52 to $143.55 per [...]
Avery wins block under NELP VII in India
Avery Resources Inc., an international hydrocarbon exploration and production company based in Calgary, Alberta, announces that its totally owned subsidiary, Bengal Energy International Inc. (Bengal), along with its two partners, has won the Block CY-ONN-2005/1, offered under the Seventh New Exploration Licensing Policy (NELP VII) in India. The Block, which covers 946 square kilometre land, [...]
Tethys commences testing at French well
Tethys Oil, a Swedish energy company focused on identification and development for production of oil and natural gas assets in the Middle East, North Africa and Europe, commences the testing of the well PLM-2 on the Attila license onshore Eastern France. The well was drilled in October last year and the company found the presence [...]
SOCO updates Vietnam discovery
SOCO, an international oil and gas exploration and production company having interests in Vietnam, Thailand, the Republic of Congo, and Angola, announces an oil discovery in Vietnam. The company said that drill stem tests on the Te Giac Den (TGD-1X-ST1) well on Prospect “E” has recovered black oil, condensate and gas, indicating the presence of [...]
Geopolitical tensions kick oil prices higher
Crude oil prices turned higher Thursday, mostly due to heightened worries about geopolitical issues in Africa and the Middle East. The Movement for the Emancipation of the Niger Delta, the main militant group in Nigeria, announced an end to its ceasefire in response to a statement from Britain that it will support the government of [...]
Rift Oil provides drilling update
Rift Oil informs its shareholders that drilling of its Puk Puk–1 exploration well in Papua New Guinea, had reached the upper reservoir objective, the ‘Alene Sand’, and recorded gas at a depth of approximately 1760 metres. The company claims that the drilling has encountered the main reservoir target of the ‘Toro Sand’ at 1816 metres, [...]
TransAtlantic announces farm-in to seven blocks in Morocco
TransAtlantic Petroleum Corp., an oil company engaged in the exploration, development and production of crude oil and natural gas in Morocco, Turkey and Romania, along with partner Longe Energy, Ltd., have agreed to farm-in to the Ouezzane-Tissa and Asilah exploration permits held by Direct Petroleum Morocco, Inc. and Anschutz Morocco Corporation in northern Morocco. The [...]
Tullow Oil provides operational update
Tullow Oil plc, one of Europe’s largest independent Exploration and Production companies with operations in Europe, Africa, South Asia and South America, provides operational update of recent production, development and exploration activities. The company said that Mahogany-2 appraisal well on the Jubilee field in Ghana extends upside potential to 1.8 billion barrels. Jubilee and Odum [...]
WTI climbs early, ends nearly even
Crude oil prices climbed only slightly Wednesday, erasing bigger gains that came when the US Energy Information Administration released its latest US inventories report. The EIA said that while gasoline and distillates stockpiles were up in the week ending 4 July, crude oil inventories dropped b y 5.9 million barrels during the week, much more [...]
Premier Oil provides drilling update
Premier Oil, a leading independent oil and gas company with producing interests in the UKCS, Albania, South and South East Asia and Africa, provides drilling updates on Vietnam and Philippines operations. In Vietnam, the company drilled the Chim Ung-1 well to a total depth of 3,735m, penetrating the target Dua reservoirs. The company said that [...]
FMC gains $45 million contract for Åsgard field
FMC Technologies, Inc., a leading global provider of technology solutions for the energy industry and other industrial markets, has signed a contract with Norway based StatoilHydro for the manufacture and supply of subsea equipment to support oil and gas production at StatoilHydro’s Åsgard development, which is located in the Norwegian Sea. Under the $45 million [...]
Emerald Energy updates Colombiain operations
Emerald Energy Plc, a UK based company engaged in the exploration and production of hydrocarbons in Columbia, Argentina, Denmark and the Appalachian basin of the USA, provides update on development operations in Colombia. The company has drilled to the target reservoirs the Vigia No.5 development well in the Vigia field. The well encountered the targeted [...]
Crude oil prices mixed as WTI declines, Brent crude gains