At this point, the report said, drilling lost five days. It attributed this to “trying to latch on to the wellhead because the rig compensator failed”. It noted the “situation was exacerbated by the rig guide funnel having been left behind in Norway”.
“We have a very strategic position in the basin,” Eco CEO Gil Holzman said this week. “Block 3B/4B is exactly on trend with Graff and Venus”, Shell and Total’s finds respectively.
Eco Atlantic has begun the regulatory process of applying for an exploration well offshore South Africa in the Orange Basin.
Eco Atlantic Oil and Gas (LSE:ECO) has declared the Gazania-1 well non-commercial in a knock for offshore South Africa’s hopes.
Africa Oil (TSX:AOI) expects a number of developments in the next month or so, including the spud of the Gazania well, an extension to its licence in Nigeria and the signing of a Kenya deal.
The Island Innovator rig is on its way to South Africa, where it should begin drilling the Gazania-1 well by the end of September.
Eco Atlantic Oil & Gas has struck a deal to buy another 6.25% stake in a South African block, while also raising $12.3 million.
Eco Atlantic Oil & Gas has dropped its plans to acquire JHI Associates, which has a 17.5% stake in a Guyana block.
Exploration is back, emissaries of some of the world’s top oil companies have said, with Africa in a strong position to meet new demand.
Namibia has leapt to the forefront of exploration thinking with the Venus and Graff discoveries earlier this year, but there are opportunities beyond TotalEnergies and Shell.
Eco Atlantic Oil & Gas has put $20 million into escrow for its share of drilling expenses on the Gazania-1 well, on Block 2B offshore South Africa.
Eco Atlantic Oil & Gas has struck another deal, agreeing to issue shares to buy its partner in Guyana, JHI Associates.
Eco Atlantic Oil & Gas has completed its acquisition of Azinam Group, setting the stage for drilling offshore South Africa late this year.
Eco Atlantic Oil & Gas has signed a drilling contract for the Island Innovator semi-submersible to work on the upcoming Gazania-1 well.
Eco Atlantic Oil & Gas has signed a definitive agreement to acquire Azinam Group, focused on the emerging areas off South Africa and Namibia.
In this week's Energy Voice Out Loud podcast, the team look at the huge downgrade in reserves and sizeable valuation cut for the Mariner field in the east of Shetland, in what is another blow to the North Sea after a flurry of issues in recent months.
Eco (Atlantic) Oil & Gas is buying South Africa and Namibia-focused Azinam, with CEO Gil Holzman talking of building a major exploration focused independent.
ExxonMobil has drilled the Sapote-1 well, offshore Guyana, but failed to find commercial hydrocarbons.
ExxonMobil has spudded the Sapote-1 well on Guyana’s offshore Canje Block.
Namibia and Guyana-focused explorer Eco Atlantic has announced a move into renewables, in southern Europe.
Few companies are paying down debt while staying bullish on exploration plans, but Africa Oil is an exception.
Frontier Energy has gone online with its highly regarded Africa E&P Summit, due to take place on September 16 and 17.
Africa Oil has received its first dividend from its recently acquired Nigerian assets and has directed the cash to pay down a loan.
Eco Atlantic Oil & Gas said today that the Orinduik block offshore Guyana could contain more than 1billion barrels of oil.
Exploration and production company Eco Atlantic has cleared another hurdle on its way to drilling a well off the coast of Namibia.