SDX reports another Egyptian gas strike

SDX Energy Inc., London, will complete for production another natural gas discovery on its South Disouq concession in Egypt. The SD-4X well encountered 89 ft of net gas pay with average porosity of 24% in the Upper Miocene Abu Madi formation. Source: News

Norway offers 12 production licenses

Norway’s Ministry of Petroleum and Energy announced it is offering 12 production licenses to 11 companies. Nine of the offers are in the Barents Sea with the rest in the Norwegian Sea. Two offers are in the western Norwegian Sea deepwater as part of the 24th licensing round, which started in June 2017. Previously, 11 […]

Baytex, Raging River Exploration to merge

Baytex Energy Corp. and Raging River Exploration Inc., both of Calgary, have agreed to merge in an exchange of 1.36 Baytex shares for each Raging River share. The combined company will have production, based on first-quarter 2018 averages, of 93,640 boe/d, 83% oil and NGL. Its proved reserves will be 338 million boe, of which […]

MARKET WATCH: Brent, NYMEX crude prices drop on OPEC, trade concerns

Brent crude oil prices dipped about $2.50/bbl on the London market June 15 while light, sweet crude oil prices fell more than $1.80/bbl in New York. Analysts attributed the sharp price drops to traders’ concerns about rising oil production and more restrictive US trade measures. Source: News

Equinor completes acquisition of interest in Brazil’s Roncador oil field

Equinor and Petrobras have completed their transaction reported late last year, whereby Equinor has acquired a 25% non-operated interest in Roncador oil field in Brazil’s Campos basin. This follows all conditions being met, including government and regulator approval.   Source: News