Vintage Energy Ltd., Adelaide, has agreed to farm in to a 50% interest in Sydney-based Metgasco’s Queensland exploration permit ATP 2021 in the Cooper basin. Vintage will earn its share and take over as operator by paying a substantial share of future drilling and development costs as well as reimbursing Metgasco’s costs to date. […]
APLNG okay to buy Ironbark CSG project
The Origin Energy-operated Australia Pacific LNG group has obtained permission to acquire Origin’s undeveloped Ironbark coal seam gas project in permit ATP 788P in Queensland. The Australian Competition and Consumer Commission said it would not oppose the transaction, first mooted by Origin in February with a sale price of $231 million (Aus.). Source: News
Sale an option in CVR Energy review
CVR Energy Inc., Sugar Land, Tex., has designated Bank of America Merrill Lynch its financial advisor for a review of strategic alternatives, which might include sale of the company. A subsidiary, CVR Refining LP, operates a 132,000-b/cd refinery at Coffeyville, Kan., and a 74,500-b/cd refinery at Wynnewood, Okla. Source: News
MARKET WATCH: NYMEX oil price hovers at $63/bbl
Light, sweet crude oil prices fell slightly May 21 as the contract continues to hover at $63/bbl on the New York market while Brent crude oil prices gained modestly with the July contract settling above $72/bbl. Source: News
Move to London approved for SDX Energy
SDX Energy shareholders have approved a move of corporate headquarters to London from Calgary as part of a court-approved reorganization. A new, UK-based company, SDX Energy PLC, will acquire shares in the former SDS Energy Inc. and apply for its shares to be traded on the London Stock Exchange. Source: News
Oil from US shale on track to rise 16% in 2019
US shale operators are on course to increase oil production markedly in 2019. The growth in US onshore production from the first quarter through the fourth quarter could come in at around 1.1-1.2 million b/d, or 16% for the full year, according to Rystad Energy. Source: News
Eni group awarded block off Argentina
Eni SPA has joined the list of international oil and gas companies awarded licenses in Argentina’s recent bid round. The company leads a group that will shoot a 3D geophysical survey across Block MLO 124 and conduct other geophysical surveys. Source: News
Cowen: E&Ps could return to growth if valuation stays down
Tracking by Cowen Inc., an American multinational investment bank, shows spending plans for 2019 by independent exploration and production firms are down 11%. Cowen expects independent E&Ps to honor capital discipline commitments for the remainder of this year, but if valuation remains depressed the group may pivot back toward growth. Source: News
Shell Australia approved for Bratwurst-1 wildcat
Shell Australia has been granted approval from the National Offshore Petroleum Safety and Environmental Management Authority (NOPSEMA) for the drilling of proposed wildcat Bratwurst-1 in Ashmore Cartier permit AC/P64 in the Browse basin off Western Australia. Source: News
Naphtha Israel Petroleum buying Isramco
Isramco Inc., Houston, will become an indirect, wholly owned subsidiary of Naphtha Israel Petroleum Corp. Ltd. under a definitive merger agreement based on a cash purchase of Isramco shares. Source: News