Futures Markets
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 [...]
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 to [...]
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 barrel.
The [...]
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 of [...]
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 oil [...]
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, approximately [...]
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 have [...]
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 after [...]
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 [...]
Sterling provides drilling update
Sterling Energy, an independent oil and gas exploration and production company with interests in the Gulf of Mexico, Africa and the Middle East, has spudded the Iris Charlie Marin-1 (ICM-1) exploration well, in the Iris Marin PSC, offshore Gabon on 5th July 2008.
The company will use Hercules Offshore’s jack-up rig Hercules 156 to drill the [...]
Marathon’s first production from Neptune
Marathon Oil Corporation and partners have started production of oil and natural gas from the Neptune development in the deepwater Gulf of Mexico.
BHP Billiton, the operator of the facility holds a 35 percent interest in Neptune, Marathon holds a 30 percent interest, Woodside Petroleum Limited holds a 20 percent interest, and Maxus (U.S.) Exploration [...]
Austral provides drilling results of A6 well
Austral Pacific Energy Ltd, a listed junior explorer engaged in oil and gas exploration and production, provides results of A6 well drilling in the greater Cheal area. Austral Pacific Energy Ltd holds 69.5% stake in the field and TAG Oil holds the remaining 30.5% stake in the field.
Cheal-A6 well reached a total depth of [...]
StatoilHydro discovers gas in the Barents Sea
Norway based StatoilHydro has confirmed the existence of gas in the Ververis prospect in the Barents Sea. The explorer struck gas in Ververis during the drilling of exploration well 7226/2-1 in the Barents Sea.
StatoilHydro, the operator of the block performed the drilling in 347 metres of water by the Polar Pioneer drilling rig.
This is [...]
Addax reports Cameroon results
Addax Petroleum Corporation, an oil and gas exploration and production company with a strategic focus on West Africa and the Middle East, announces the initial results of its Cameroon exploration campaign after completing drilling its first exploration wells in the Ngosso and Iroko license areas.
Addax Petroleum drilled two wells, along with a sidetrack at [...]
Antrim successful drilling at Causeway well
Antrim Energy Inc., an oil and gas exploration and production company with operations in Argentina and the United Kingdom, provides drilling results from its Causeway well 211/23d-18 in the UK North Sea.
Antrim, which holds 65.5% interest in the Causeway well, drilled the 23d-18 well and found a significant oil column, including a new oil [...]