Armada Oil has terminated the terms of its existing credit facility amid the recent decline in oil price. The firm said it was working with its current lender to secure an extension of the terms of its existing credit facility and expects a resolution before the ed of the year. The loss of its financial facility has also halted work on the Bear Creek #1 project.
Falcon Oil and Gas has elected a new member to its board. Maxim Mayorets was appointed to the company's board of directors as a non-executive director at the annual general and special meeting of shareholders in Ireland. Mr Mayorets is currently a member of the executive board and head of mergers and acquisitions at Renova.
Oilex has been granted an exploration permit in Western Australia. The WA Department of Mines and Petroleum (DMP) approved the firm's application to convert its Special Prospecting Authority (SPA 17 AO) application to an exploration permit.
The demand for global energy is set to increase by 35% by 2040, a report has suggested. The report released today ExxonMobil claims growth in the global middle class, expansion of emerging economies and a rising population will contribute to the rise.
President Energy's well in the Santa Rosa Fomraiton has spudded. The Lapacho x-1 well has "very encouraging" hydrocarbon shows encountered throughout the gross formation thickness with hihg background gas of 20% and trip gas of 48%.
BG Group has delivered first gas from its Starfish field in Trinidad. The production in the East Coast Marine Area will ensure a reliable flow of gas to the domestic market and to the Atlantic LNG export facility. Garvin Goddard,president of BG Trinidad, said: “With Starfish coming on stream in our 25th year of operating in the country, this is a great demonstration of our ongoing commitment to the safe and responsible development of natural gas resources.”
Nostra Terra Oil and Gas has confirmed the spudding of its 13th well in the Chisholm Trail Prospect. The CT16 well has produced an average of 555 (barrels of oil per day). It was drilled to the a measured depth of 11,700 feet and a true vertical depth of 7,180.
Chevron New Zealand has acquired blocks in offshore New Zealand. The exploration firm was granted the licenses for the blocks in a frontier basin with water depths from 2,600 feet to 9,800 feet. The areas cover 6.26 million acres and are located south east of North Island.
Archer Petroleum has signed a Letter of Intent (LOI) to work with Cardiff Energy on a three-well drilling program in Texas. The firm will earn a 25% working interest on the production rates of 180 barrels a day and 250,000 cubic cubic feet of gas on the Bearcat 4 well in Ballinger.
Mosman Oil and Gas has been awarded three exploration permits in New Zealand. Part of the New Zealand government's 2014 block offer, the award covers the Taramakau and Murchison blocks on South Island and the East Coast block on North Island.
Leni Oil and Gas (LGO) has confirmed its eighth Goudron-field well in Trinidad is ready for commissioning. Well GY-671 has reached a total measured depth of 3,598 metres, been electronically logged and cased for completion as a C-sand producer. A net oil pay interval of 244 feet has been recorded on the electric logs in the C-sand of GY-671 alongside two previously completed wells, GY-669 and GY-670.
Rose Petroleum will start drilling the first well at its Mancos site after receiving approval from the State of Utah Department of Oil, Gas and Mining. The London-listed firm has contracted Hanson Contruction to work on the 1-34 state well in the Cisco State Unit. Drilling operations are scheduled to begin later this month.
Cluff Natural Resources (CLNR) has been awarded five licenses by the Department of Energy and Climate Change (DECC) in the UK's 28th Offshore Licencing Round. The awards cover eleven blocks in an under-explored gas province of the southern North Sea. They were given by DECC to the company on a ‘promote’ basis.
Oando Energy Resources has completed the Umugini Pipeline. The African exploration firm finished the 51 km long pipeline which will provide an alternative route for crude oil produced from the Ebendo Field.
FX Energy is to abandon a well in north west Poland. The Polish oil and gas firm is to scrap the Angowice-1 well after it failed to yield porosity in its potential reservoir zones.
Oilex has been endorsed by the Indian government for the sales from the Bhandut-3 well in the Bhundut field. The company said the backing was a "critical milestone" for the field's production. The project will now gather the appropriate production facilities including a compressed natural gas (CNG) loading facility that will enable "bullet" trucks to be loaded for transportation on site.
SURF contractor Ceona has christened its flagship deepwater field vessels after successful sea trials. Ship building specialist Lloyd Werft delivered the Ceona Amazon to Bremerhaven, where it was christened. The device was built to perform in multiple pipelay and operational modes and features large storage capacity and heavy subsea construction.
North American oil and gas firm Dejour Energy has contracted Ensign Drilling Partnership to drill wells at its Woodrush complex. The two wells will target the Halfway oil and Gething gas pools known to be productive at Woodrush at depths between 3500-4000. The objectives of the project are to expand current field production and company reserve values.
General Electric (GE) and Heirs Holdings (HH) have agreed to expand their business relationship and pursue opportunities in Nigeria's oil and gas sector. The pair have identified an opening in the country's upstream sector and domestic demand for oil and gas in the country. The firms' collaboration was initially focused on the Nigerian power sector and the expansion of Transcorp Ughelli, Nigeria's biggest power station.
Edgon Resources is set to explore a number of licences it acquired after striking a deal with the Scottish Power Generation (SPG). The UK-based company previously entered into a deal which meant it could farm into a number of onshore production licences.
Whiting Petroleum stockholders have approved the acquisition of Kodiak Oil & Gas. Around 78.5% of Whiting common stock voted for the issuance of common stock to acquire Kodiak. The company said 98.8% of outstanding shares also voted in favour.
Chancellor George Osborne has promised the first North Sea tax cuts in two decades – and said they would protect tens of thousands of jobs in the “vital” offshore sector. He used his Autumn Statement to outline eagerly anticipated measures to boost the industry, with Chief Treasury Secretary Danny Alexander due to unveil the full package in Aberdeen today.
Energy North's chief executive is to stand down. Ian Couper, who has held the position for eight years, plans to leave in May 2015. Mr Couper's role at the energy trade body saw him turn the firm from a 30-member to 220 member group.
TGS and Electromagnetic Geoservices (EMGS) have agreed to expand a recent $8million contract in the Barents Sea. The two will partner to acquire electromagnetic data over ten blocks in the Nordkapp and Tiddly areas. Stein Ove Isaksen, TGS senior vice president for Eastern Hemisphere, said: "TGS and EMGS are once again pleased to expand their cooperation in the Barents Sea.
Brazilian energy firm Petrobas has made the first ever gas discovery in Columbian Caribbean deep waters. The Rio de Janeiro-quartered company said natural gas was found just off the coast of La Guajira.
