Company Overview and News
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.
Papua New Guinea exploration company InterOil Corp. has received another takeover offer, this time from an unnamed bidder. The offer poses a rival bid to the friendly $2.2-billion offer received from Oil Search Ltd. in May (OGJ Online, May 20, 2016).
Light, sweet crude prices for August and September delivery each dropped more than $1.50/bbl on the New York market June 30, reversing the previous day’s gains in a volatile week for commodity prices. The downward momentum continued in early July 1 trading.
Rawson Resources Ltd. reported Thursday that its wholly owned unit Dondonald Ltd. has entered into a Share Purchase Agreement (SPA) for Moira Ltd., which owns a 100 percent interest in petroleum prospecting license (PPL) 391 in Papua New Guinea's (PNG) North New Guinea Basin, encompassing the Matapau oil seeps and shallow wells.
Bryan Milton is expected to be appointed by ExxonMobil Corp.’s board as a vice-president with the company as well as president of ExxonMobil Fuels, Lubricants & Specialties Marketing Co. He has served as president of ExxonMobil Global Services Co. since 2011.
Rawson Resources Ltd., Sydney, through subisidiary Dondonald Ltd. has entered into a share purchase agreement for Moira Ltd. Moira has 100% working interest in the onshore Papua New Guinea’s PPL 391 in the north New Guinea basin, which encompasses the Matapau oil seeps and several shallow wells targeting the shallow fractured basement.
Rapprochement between Israel and Turkey lowers one of many hurdles to development of giant Leviathan natural gas field and other deepwater discoveries in the eastern Mediterranean (OGJ Online, Apr. 12, 2016).
Rawson Resources, via its fully owned subsidiary Dondonald Limited, has entered into a Share Purchase Agreement (SPA) for Moira Limited. Moira currently maintain a 100% working interest in PPL 391, which is located in the North New Guinea Basin, encompassing the Matapau oil seeps and shallow wells. This transaction will provide Rawson with a growing North PNG Coast exploration portfolio and is another step in the strategy of securing a high-growth, high-impact position in the exciting PNG market.
Australia's Rawson Resources Ltd. announced Thursday the firm has officially received the award of Petroleum Prospecting License (PPL) 549 from Papua New Guinea's Ministry for Petroleum and Energy effective May 27.