Ophir Energy PLC, London, is no longer operator of Block R, which contains the Fortuna natural gas discovery, and will not be granted an extension to the joint production contract, the Ministry of Mines and Hydrocarbons of Equatorial Guinea confirmed. Ophir was issued a notice of the decision in December 2018 after the company’s exploration […]
CNOOC set to increase reserves, production through 2021
CNOOC Ltd. will steadily increase its oil and natural gas reserves and production this year with plans to drill 173 exploration wells, acquire 29,000 sq km of 3D seismic data, and put six new projects onstream. Source: News
Pluto LNG to supply Western Australia mineral sands project
A joint venture of Woodside Energy Ltd., Perth, and Melbourne-based Energy Developments Pty. Ltd. (EDL) has signed an LNG supply deal with mineral sands company Sheffield Resources Ltd., Perth, for Sheffield’s Thunderbird project in the Kimberley region of northern Western Australia. Source: News
MARKET WATCH: NYMEX crude oil prices hover above $52/bbl, Brent above $61/bbl
Crude oil prices fell by more than $1/bbl on New York and London markets Jan. 22 with light, sweet crude oil settling above $52/bbl as US markets reopened for trading after being closed on Jan. 21 for MLK Jr. Day. Analysts noted that the US crude oil contract for March settled above $54/bbl on Jan. […]
Van Gogh infill project comes on stream
Santos Ltd., Adelaide, has announced that oil from its two-well infill project in Van Gogh field in the Exmouth basin offshore Western Australia has been brought on stream. The infill project began in September 2018 and involved the drilling and completion of two subsea wells and connecting them to the existing field infrastructure. Source: […]
New Pluto inlet station commissioned
The new Pluto inlet station connecting the Woodside Petroleum Ltd.-operated Pluto LNG project on the Burrup Peninsula near Karratha in Western Australia to the Dampier to Bunbury natural gas trunk line has been successfully commissioned by the Australian Gas Infrastructure Group. Source: News
WoodMac: Upstream M&A deal flow expected to slow in 2019
In fourth-quarter 2018 upstream, merger and acquisition activity fell to its lowest level since first-quarter 2015 as volatile oil prices and bearish equity markets impeded deal flow. Activity also may be sluggish in 2019, according to Wood Mackenzie. Source: News
NEB approves winter clearing work for Keystone XL’s north section
TransCanada Corp.’s Keystone Pipeline GP Ltd. can begin winter clearing work on the North Spread of its Keystone XL project. Canada’s National Energy Board (NEB) approved the company’s request as Keystone has satisfied the regulatory requirements for clearing of trees and shrubs along the pipeline route’s north section, starting at Hardisty, Alta. Source: News
Tallgrass, Kinder Morgan explore Rockies oil transportation
Tallgrass Energy LP and Kinder Morgan Inc. will jointly develop a solution to increase existing crude oil takeaway capacity in the Powder River and Denver-Julesburg basins and to add incremental capacity to the Williston basin and portions of Western Canada. Source: News
New survey supports Gabon’s latest offshore licensing round
Geoscience company CGG is extending its Gabon multiclient data footprint with a 9,800-km offset 2D seismic survey in an unexplored deepwater area of the South basin. CGG said it is building on the recent success of its 25,000-sq-km 3D BroadSeis survey, which led to the Boudji-1 and Ivela-1 oil discoveries. Source: News