Indonesian oil and gas regulator SKK Migas confirmed a natural gas discovery at the Repsol-operated Sakakemang PSC onshore central Sumatra. Repsol started drilling the Kali Berau Dalam-2 well in August 2018, targeting a fractured Pre-Tertiary basement play. The company reentered the well earlier this month following control problems in late 2018, according to consultant Wood […]
Marathon Oil sets $2.4-billion capital budget for 2019
Marathon Oil Corp. has earmarked $2.4 billion in development capital for 2019, the majority of which—95%—to be allocated 60-40 to the four US resource plays: Eagle Ford and Bakken, and Oklahoma and Northern Delaware, respectively. Source: News
Santos increases operatorship position in offshore Bonaparte basin
Santos has boosted its operatorship position in the Bonaparte basin off northern Australia through an agreement with fellow explorer Beach Energy. The agreement aligns interests across three permits in the Northern Territory jurisdiction—NT/P82, NT/P85, and NT/P84—and one offshore Western Australia, WA-454-P, such that the two companies become 50-50 joint venture partners in each with Santos […]
IOC inks term contract for US crude supplies
Indian Oil Corp. Ltd. has finalized a term contract to import as much as 3 million tonnes/year of crude oil from the US as part of the operator’s strategy to diversify its term crude sources. IOC finalized the contract—valued at $1.5 billion—on Feb. 15, the company said. Source: News
Probert joins TransGlobe Energy as VP, COO
Geoffrey Probert has agreed to join TransGlobe Energy Corp., Calgary, as vice-president and chief operating officer based in London. Probert has been North Africa managing director for Petroceltic and previously worked with Shell and BHP Billiton. Source: News
Horse Hill field due horizontal drilling
Horse Hill Developments Ltd. (HHDL) plans horizontal drilling this year at Horse Hill field, which is undergoing an extended production test near Gatwick Airport outside London, reports parent company UK Oil & Gas PLC. Source: News
Henderson named Kosmos chief exploration officer
Tracey Henderson has been named chief exploration officer of Kosmos Energy Ltd., Dallas, succeeding founding partner Brian F. Maxted, who is retiring. Source: News
MARKET WATCH: Oil price benchmarks end week on 3-month high
Benchmark crude oil prices rose on New York and London markets by more than $1/bbl Feb. 15 to 3-month-high settlements following the Organization of Petroleum Exporting Countries report that cartel production dropped in January from December 2018. Source: News
Watching Government: Challenging emissions favoritism
The American Petroleum Institute and the Natural Gas Supply Association filed an amicus brief on Feb. 8 supporting a petition asking the US Supreme Court to overturn a federal appeals court’s finding that New York State’s Zero Emission Control (ZEC) program does not preempt federal authority by subsidizing certain forms of electric power generation. Source: […]
Chevron inks deal to buy Petrobras’s Pasadena refinery
Chevron Corp. subsidiary Chevron USA Inc. has signed a share purchase agreement with Petroleo Brasileiro SA (Petrobras) subsidiary Petrobras America Inc. (PAI) to acquire all outstanding shares and equity interests of Pasadena Refining System Inc. (PRSI), which includes the refinery in Pasadena, Tex., and PRSI Trading LLC for $350 million, excluding working capital. Source: News