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Condor Petroleum Inc., Calgary, has cemented production casing in a well that logged at least 135 m of net natural gas pay in stacked reservoirs at the edge of Poyraz Ridge gas field under development in northwestern Turkey.
Statoil ASA has submitted a plan for development and operation of the Trestakk discovery on the Halten Bank to the minister for petroleum and energy in Bodo, Norway. Capital expenditures are estimated at 5.5 billion kroner.
The Trinidad and Tobago government has announced it will be having a competitive bid round in the first quarter of 2017 that is likely to have a mix of deepwater and near-shore blocks.
Rawson Resources Ltd., Sydney, has been awarded a permit in the sparsely explored Cape Vogel basin offshore east Papua New Guinea.
Inpex Corp., Tokyo, said an offshore exploratory well encountered a thin natural gas reservoir in a shallow zone and “unexpected, strong gas indications” in the deepest zone, “suggesting the presence of a high-pressure gas column.”
Rawson Resources Limited (Rawson; ASX:RAW), via its majority owned subsidiary Dondonald Limited, has secured a capital investment of approximately A$750,000 from a group of resident PNG Investors. This transaction sees these Investors subscribe for a 33% stake in Dondonald in exchange for cash invested of K1,744,186 ($750,000). Rawson and the group of Investors have also entered into a Put and Call Option, whereby Rawson (at any time over the next 3 years) can Call for purchase of the Investors shares in Dondonald with payment by way of a share placement of up to 15% of the current issued capital of Rawson Resources Limited (capped at 15,832,072 shares).
In its July Oil Market Report, the International Energy Agency states that the “the market is heading to balance remains on track,” but the road ahead is “far from smooth” as revealed by the recent modest fall back in oil prices.
Holders of interests in the Coiron Amargo Block in Argentina’s Nequen basin and a unit of Royal Dutch Shell PLC have entered a series of agreements that would subdivide the southern part of the 100,000-acre tract and adjust holdings and roles (OGJ Online, Nov. 12, 2013).
Rawson Resources Ltd., Sydney, has reported that Udacha natural gas field in South Australia’s Cooper basin retention lease PRL 26 has been brought on stream.
Woodside Energy Ltd. has let a contract to Keppel Offshore & Marine, Singapore, for the modification and upgrade of the Ngujima-Yin floating production, storage, and offloading vessel, which will support the Greater Enfield oil development offshore Western Australia.
Beach Energy Ltd. commenced first production from the Udacha gas field in PRL 26 lincense in the Cooper Basin, South Australia, joint venture partner Rawson Resources Ltd. disclosed Monday.
US oil well completions fell 69% in the second quarter compared with year-ago levels, the American Petroleum Institute estimates in its 2016 Quarterly Well Completion Report.
EnQuest PLC encountered a 67-ft thick oil-bearing column in the Fulmar in its Eagle exploration well in the Greater Kittiwake Area (GKA) in the Central North Sea. The company did not encounter an oil-water contact, which it said represented potential upside volumes on the flank of the structure.
The US Department of the Interior has published a final rule that industry groups fear will enable federal officials to second-guess oil and gas values used in royalty calculations (OGJ Online, Apr. 17, 2015).
Worldwide natural gas demand is expected to rise 1.6%/year during 2014-35, driven by emerging markets, electric power generation, and industry, according to a recent outlook from Cedigaz.