Peyto Exploration and Development has added two members to its management team. The Canadian-based firm has promoted Lee Curran to vice president of drilling and completions and Todd Burdwick is now vice president of production.
This week's most read article on Energy Voice was the unveiling of dramatic footage showing waves crashing against the Borgholm Dolphin rig.
LGO Energy has raised £1.5 million though company arranged placing of new ordinary shares. The total funds, before shares, will be used to ensure the firm's work in Trinidad is not hindered by the plummeting oil prices. The flagship Goudron operation is low cost and it is thought the venture will stand strong against the current climate, with its most recent well producing 2,000 barrels of oil per day.
Pacific Energy Development has quadrupled its production rate on the Loomis well in Colorado. The recently completed 2-1H horizontal well in Weld County tested at an initial rate of 576 barrels of oil per day (bopd) and 630,000 cubic feet of gas. Frank Ingriselli, chairman and chief executive, said: "We are very pleased with the initial production rate from our first two of three Loomis wells, as it not only validates our improved completion techniques and value of this acreage, but also more than quadruples our current daily net production.
Seadrill has appointed a new director. Dr Charles Woodburn, who was previously chief executive of Expro Group and spent 15 years in senior management roles with Schlumberger, has joined the company.
A date has been set for the North Sea oil summit. Politicians will meet with industry leaders in Aberdeen on February 2.
Italian oil and gas company Eni has signed contracts for two exploration blocks off the coast of Egypt. The deals follow the result of the EGAS 2013 bid round and will see work carried out on the North Leil and Karawan blocks in the deep waters of the Mediterranean.
BP workers will tomorrow find out if cuts are to affect their jobs. The energy giant is soon expected to share findings of an exercise aimed at saving money.
Canacol Energy has increased its budget for 2015. The Colombian-based firm has upped its spending in light of newly acquired contracts and a major gas discovery. Last year, the company executed three new gas sales contracts for a combined 65 million standard cubic feet per day.
Strike Energy has suspended operations at the Southern Copper Basin Gas Project. The firm temporarily shut down work on two of its wells as localised flooding hit the area.
KazMunaiGas Exploration Production (KMG EP) has appointed a new chief financial officer. Dastan Abdulgafarov was offered the role after he was elected as a member of the management board of KMG EP, of which there are now seven members.
Exxon Mobil's newest tanker has created more than 1,000 jobs since its inception. The second of the Texas-based firm's vessels was christened Eagle Bay at a ceremony at Aker Philadelphia Shipyard yesterday.
Dubai-based Lamprell's shares have dropped 15% after warnings it faced "a challenging 2015". The firm said that falling price of crude had placed annual revenue at 10% below expectation. Jim Moffat, chef executive, said: "With the recent slump in the oil price, winning work in 2015 is going to be a challenge as the industry adjusts to the new realities.
Afren said it received a "disappointing" competent person's report of its Barda Rash field. As part of the company's annual review, the Barda Rash is expected to show a material reduction to previous estimates of reserves and resources, eliminating gross 2P reserves of 190 mmbbls and revising gross 2C resources from 1,243 mmbbls to around 250 mmbbls. This change is due to the 2014 reprocessing of 3D seismic data shot in 2012.
Austin Exploration has struck oil from its sixth Eagle Ford well in Texas. The Australian-based firm said that its Seaducer #1H well at Burleson County in Texas had been drilled to a total depth of 16,022 feet with a 6,394 foot lateral leg.
Southern Energy Group has confirmed the acquisition of the JT Fields Berry Lease. Located in the Caldwell County, Texas, the JT Fields Berry Lease will receive a multi-well re-stimulation and secondary recovery project for the Austin Chalk reservoir with six wells.
Halcon Resources said it will be making reductions to its 2015 drilling programme. The firm's drilling and completions budget for 2015 is £375-453million, $20million of which will be spent on leasehold, infrastructure, seismic and other in 2015. Capital will be directed towards the Fort Berthold area of the Williston Basin and El Halcón in East Texas.
Petsec Energy has started drilling a well at its West Crab Lake exploration gas project in Louisiana. Drilling began earlier this week and will be drilled to a true vertical depth of 12,500 to test multiple Lower Miocene age Marg and Discorbis sand reservoirs in a fault closure syncline. The company has a 20% non-operating working interest (15.5% net revenue interest) in the well before payout.
Europa Oil & Gas has decided to keep its WF9 well on its West Firsby field in the East Midlands Petroleum Province shut in for the foreseeable future due to low oil prices. The company said production is continuing on five of the six wells it operates across the Crosby Warren, Whisby and West Firby fields. It said it would reconsider whether to carry out recompletion of WF9 should the oil price recover to “a level at which the well would become economic”.
Frontier Resources' Oman venture may be suitable for drilling. Block 38 is undergoing the interpretation of available legacy 2D seismic data which has resulted in the identification of several leads which indicate the potential for future drilling.
Roxi Petroleum has begun initiating the sale of its interest in the Galaz Contract Area. Roxi has held talks with Xinjiang Zhundong Petroleum Technology in regards to Xinjiang's potential acquisition of of 100% of the Galaz Contract Area for up to $100m, including the assumption of debt.
The farm-out agreements between two industry bodies shave been terminated due the fall in oil prices. Global Energy Development said the farm-out agreements for its Bolivar and Bocachico association contract areas in Columbia with Everest Hill Energy Group Ltd have been cancelled.
Dome Energy has made an oil discovery on the Orange Field in Texas. The Gulf Lee Hager Fee 37 (GLHF#37) spudded on December 24 and reached a total depth (TD) of 6,550 feet.
Regal Petroleum fears the current situation in Ukraine will have a negative affect on business. Ongoing geopolitical events have resulted in significant volatility in the Ukrainian Hryvnia exchange rates, uncertainty in the gas sales price and unexpected changes to the subsoil tax regime in Ukraine.
Galilee Energy has confirmed plans to drill a well at the Hoffer Prospect in Texas. The Hoffer B well was spud on January 6 and will now be drilled to a total depth of 4,430metres. This is expected to take between 40 to 60 days.
