Welcome to OilEarth
Quality Oil & Gas news for your iPad or tablet. Our news is powered by our
parent site - OilVoice
You may also read our Oil & Gas news on Google Currents
KBC Advanced Technologies announce the following trading update in relation to the half year results for the six months ended 30 June 2014 that will be released in September. Since our AGM statement in June, KBC has continued to make good progress in both its Consulting and Technology divisions.
Velocys plc (VLS.L), the technology innovator for smaller scale gas-to-liquids (GTL), is pleased to announce that the final investment decision (FID) has been made to proceed with construction of a commercial GTL plant using the Company's technology.
Sound Oil, the Mediterranean focused upstream oil and gas company, is pleased to announce that first gas was delivered from the onshore Casa Tiberi field, located in the Marche Region of Italy, to the local gas distributor on 28 July 2014. The initial production rate was 9,600 Scmd (0.
Sound Oil, the Mediterranean focused upstream oil and gas company, is pleased to announce the completion of the final stage of the £14 million institutional investment first announced by the Company on 25 April 2014. The Company has now issued the remaining £5.
BP today announced its financial results for the second quarter of 2014. Underlying replacement cost profit1 for the quarter of 2014 was $3.
Nostra Terra, the AIM-quoted oil and gas producer with assets in the USA, is pleased to announce the engagement of Quixote Associates Limited ("Quixote") as consultant to the Company to assist Nostra Terra in the assessment, due diligence and financing of potential transactions or acquisition opportunities. Tom Reynolds is the principal of Quixote and is highly experienced in the oil and gas sector.
New executive positions have been introduced in LUKOIL Overseas (operator of LUKOIL's international upstream projects). Inna Gubareva became Vice President for Human Resources and Organizational Development.
ThinkTank, the pioneer in structured collaboration, today announced that FMC Technologies, Inc., a global provider of equipment and services for the energy industry, has adopted ThinkTank's Collaboration-as-a-Service (CaaS) solution.
Nostrum Oil & Gas plc (the ÒCompanyÓ and together with its subsidiaries, the ÒGroupÓ), an independent oil and gas exploration and production company with assets in North-Western Kazakhstan, announces that the Group has entered into a contract with JSC ÒOGCC KazStroyServiceÓ (the ÒContractorÓ) for the construction of the third unit of the GroupÕs gas treatment facility (ÒGTFÓ) for a consideration of US$150 million (the ÒConstruction ContractÓ). As the Contractor is an affiliate of KazStroyService Global B.
CaiTerra International Energy Corporation (TSX VENTURE:CTI), announces that, subject to regulatory approvals, the Company has entered into an agreement on July 25, 2014 to acquire an undivided 100% beneficial interest in and to a total of 135.68 square kilometers of oil and gas leases located in northern and central Alberta.
Ministers today opened the bidding process for companies seeking licences to explore for onshore oil and gas, to help discover how the gas under our feet can help power our homes. Business and Energy Minister Matthew Hancock published details of how companies can apply for licences which will enable them to start initial exploration for shale gas.
Contact Exploration Inc. (TSX VENTURE:CEX) announce that it has today filed its audited consolidated condensed financial statements for the year ended March 31, 2014 and the related management's discussion and analysis ("MD&A") on the Company's profile on the System for Electronic Document Analysis and Retrieval ("SEDAR") website at www.
At the beginning of the month I pointed out that there are three components to the coming Energy Mess. The first of these is the steady increase in global demand for oil and its products, the second is the decline in production from existing wells and fields, and the third is the shrinking pool of places from which new oil can be recovered to make up the difference between the first two.
Mid-Con Energy Partners, LP (Nasdaq:MCEP), through its wholly owned subsidiary, Mid-Con Energy Properties, LLC, announces that it has entered into a definitive agreement to acquire net proved reserves estimated at 2.6 million barrels of oil equivalent ("Mmboe") for an aggregate purchase price of approximately $56.
Zargon Oil & Gas Ltd. (TSX:ZAR)(TSX:ZAR.
In light of recent market speculation and investor queries Athabasca Oil Corporation (TSX: ATH) is providing clarification on the status of the transaction relating to the Dover Put Option, which it exercised on April 17, 2014. The Company confirms that it continues to work with Phoenix Energy Holdings Limited to close the transaction in accordance with the terms of the Put/Call Option Agreement.
Pacific Rubiales Energy Corp. (TSX: PRE) (BVC: PREC) (BOVESPA: PREB) today provided an operational update for its second quarter 2014 operating results, which includes estimates of production and sales volumes, price realizations, and operating netbacks, summarized as follows: 2Q 2014 (Estimated) 1Q 2014 (Actual) 4Q 2013 (Actual) 3Q 2013 (Actual) 2Q 2013 (Actual) Net Oil Production (Mbbl/d) 137-139 138 123 117 117 Net Natural Gas Production (Mboe/d) 9-11 11 11 11 11 Total Net Production (Mboe/d) 148-150 149 134 128 128 Sales Volumes (Mboe/d) 153-155 151.
Drillsearch Energy Limited (ASX: DLS or 'Drillsearch') announces that it has executed an agreement with Beach Energy Limited (ASX: BPT or 'Beach') for Beach to farm in to its ATP 924P oil and gas exploration permit in the south west Queensland section of the Cooper Basin. The agreement extends Drillsearch and Beach's successful partnership from the Western Flank Oil Fairway of the Cooper Basin where the two companies produce oil from the prolific PEL 91 joint venture, as well as wet gas from PEL 106.
La Tribune, French weekly business magazine (translation) Shale oil could guarantee the USA future energy independence. However, this outcome would require more investment in the oil transportation infrastructure (beginning with maritime routes).
RockBridge Resources Inc. (TSXV symbol: RBE) is pleased to provide this update on its recent activities.
WorleyParsons has been selected to provide engineering, procurement and construction management services under a 'Brownfield EPCM Services Outline Agreement' for the Woodside operated North West Shelf Project. Under this framework agreement, WorleyParsons will deliver brownfield EPCM services for both onshore and offshore assets.
Peak Oil & Gas Limited (Peak) (ASX Code: PKO) holds interests in Service Contract SC6 Cadlao (SC6 Cadlao) in the Philippines which contains the Cadlao Redevelopment Project (Cadlao Project). The Operator under SC6 Cadlao is Cadlao Development Company Limited (Cadco) formerly Blade Petroleum Ltd.
Strategic Oil & Gas Ltd. (TSX VENTURE:SOG) announce its first horizontal Muskeg well post spring break-up.
Mongolia might not be the first place that springs to mind as a potential investment destination for oil and gas players, but one small Australian company is hoping the recent passing of a new petroleum law will open up opportunities in the landlocked nation between Russia and China. Wolf Petroleum is the only Australia-listed oil and gas company operating in Mongolia.
Sterling Resources Ltd. (TSX-V: SLG) announce the closing of the private placement of 71,579,746 new common shares in the capital of the Company (the "Common Shares") to certain existing shareholders at C$0.
Basic Energy Services, Inc. (NYSE: BAS) announce its financial and operating results for the second quarter and six months ended June 30, 2014.
Oil production from shale formations in North Dakota and Texas increased by more than 33% in June, according to Bentek Energy, an analytics and forecasting unit of Platts, a leading global provider of energy, petrochemicals, metals and agriculture information. The production increase is most likely attributable to the rise in returns producers are realizing in these basins, according to Jack Weixel, Bentek Energy director of energy analysis.
Shoreline Energy Corp. (TSX:SEQ) announce that it has entered into a purchase and sale agreement (the "Agreement") to sell its royalty interests in its Canadian land base to PrairieSky Royalty Ltd.
Liquefied Natural Gas Limited (ASX: LNG; OTC ADR: LNGLY) (LNGL or the Company) announce that it has significantly expanded its presence in the North American Liquefied Natural Gas (LNG) sector by signing an agreement to acquire 100% of Bear Head LNG Corporation (BHLC) from a subsidiary of Anadarko Petroleum Corporation (Anadarko) for US$11.0 million.
Mart Resources, Inc. (TSX:MMT) and its co-venturers, Midwestern Oil and Gas Company Plc.
Canamax Energy Ltd. (TSX VENTURE:CAC) is pleased to announce an operations update including current production rates, the results of recently completed capital expenditure and well optimization activities, and the establishment of new credit facilities.
Black Bison Water Services, LLC, a provider of services for the disposal of flowback and produced water generated from oil and gas-producing wells, today announced that it has closed its acquisition of a salt water disposal (SWD) facility (the "Garner Lake Facility") from Quality Environmental Technologies located near Gillette, Wyoming in the Powder River Basin. Prior to this acquisition, Black Bison acquired the Reed SWD Facility near Recluse, Wyoming.
FAR Ltd (ASX: FAR) wishes to advise that drilling has resumed on the FAN-1 well offshore Senegal. FAR had previously announced a modification to the Senegal drilling programme in order to incorporate essential maintenance.
| Monday, July 28, 2014
There is a need to act before the North Sea ‘fails’ economically Despite continuing high oil prices, the mature UKCS and NOCS producing provinces continue to be challenged by poor economic returns, and companies are clearly hesitating over investing there. In part this is due to exponentiating costs – as some would assert, the expropriation of cash flow by oil field service companies - and project delays.
On Saturday July 26, 2014, a ceremony was held in Bergen to officially name the latest new subsea construction vessel to join the Technip fleet, the North Sea Atlantic. Over 200 guests from ship owner North Sea Shipping, ship charterer Technip and supply chain partners, gathered to attend the ceremony held at the NorYards BMV AS shipyard (previously Bergen Group) in Laksevåg, Bergen, Norway.
In 2006 when James Howard Kunstler published his breakthrough book The Long Emergency, the next two years seemed to vindicate his warning that the oil age was coming to an end with perilous consequences. Oil soared to $147 a barrel in mid-2008.
Hyperion Exploration Corp. ("Hyperion" or the "Company") (TSX VENTURE:HYX) is pleased to announce that Mr.
Questerre Energy Corporation (TSX:QEC)(OSLO:QEC) updated its operated and joint venture activities in the Kakwa-Resthaven area of Alberta. Michael Binnion, President and Chief Executive Officer, commented, "Over the next several weeks, we expect to see the results from five important Montney wells.
Forum Energy Technologies, Inc. (NYSE: FET) announce second quarter 2014 revenue of $428 million compared to $368 million for the second quarter 2013.
Osage Exploration and Development, Inc. (OTCQB:OEDV), an independent exploration and production company focused on the Horizontal Mississippian and Woodford plays in Oklahoma, is pleased to announce the appointment of Mr.
Zeta Petroleum plc (ASX - ZTA:AU), the ASX listed oil and gas company with production, appraisal and exploration assets in onshore Romania, announces the appointment of SP Angel Corporate Finance LLP ('SP Angel') as international broker and equity capital markets advisor to assist with its wider investor relations objectives. In addition, it is considering a dual listing on AIM in London and has appointed Sanlam Securities UK Limited ('Sanlam') as its proposed Nominated Adviser.
Gulf Marine Services (LSE:GMS), the leading provider of self-propelled self-elevating support vessels (SESV) serving the offshore oil, gas and renewable energy sectors, is pleased to confirm that contract extensions have been exercised for two of its Small Class vessels in the MENA region. The first extension is for an SESV currently chartered to a MENA-based national oil company (NOC) on a three-year contract (two years firm and an option to extend by one year).
Great Eastern Energy Corporation Limited (LSE: GEEC), the fully integrated, leading Indian Coal Bed Methane (CBM) Company, is pleased to announce its Preliminary Results for the 12 months ended 31 March 2014. Highlights Financials: Total revenue increased by 18% to US$ 34.
Key Financials Revenue: $74.3m (2013: $91.
Tangiers Petroleum Limited (ASX: TPT; AIM: TPET) provides the following update on the TAO-1 exploration well located in the Tarfaya Offshore Block, Morocco. The TAO-1 exploration well has intersected the shallowest and secondary objective, Assaka.
Premier is pleased to announce that Richard Rose will join Premier's Board as Finance Director on 8 September 2014. Richard qualified as a chartered accountant with Ernst & Young and has spent over 20 years within the energy sector including 13 years working with a range of international banks.
Magnum Hunter Resources Corporation (NYSE: MHR) (NYSE MKT: MHR.PRC) (NYSE MKT: MHR.
Mart Resources, Inc. (TSX:MMT) and its co-venturers, Midwestern Oil and Gas Company Plc.
Intrepid Energy Corporation, an Umbra Applied Technologies Group company (OTC: UATG), announced today that it has started oil production. CEO of Umbra Applied Technologies Group, Alex Umbra commented that, "Today is yet another milestone in the development of our company, as we begin to transform the potential of a promising company into realized shareholder value.
Selemo Pilot Update As previously advised, the Selemo pilot pod had reached Critical (gas) Desorption Pressure (CDP) as a result of the careful dewatering process that had been undertaken. With ongoing pumping operations following CDP, the gas pressure inside the casing continued to increase on a consistent upward trend.
| Friday, July 25, 2014
Some ten days ago, the Kurdistan Regional Government (KRG) were reported to have sent Peshmerga units into the Bai Hassan and Kirkuk oil fields - formerly under the control of the North Oil Company (NOC) - and both of which are in areas of disputed territory. The KRG subsequently told NOC's workers they had a choice: either work for the KRG, or leave.
Jubilant is pleased to announce an upward revision in its Reserves, Contingent Resources and Prospective Resources for the Kharsang Field in Arunachal Pradesh. The Reserves and Resources Estimation for the Kharsang Field, prepared by Gaffney Cline & Associates ("GCA") in June 2014, gives the update as of 30 September 2013.
Forty years ago the United Kingdom Continental Shelf (UKCS) boasted a small number of very large oilfields discovered by major operators. Now, as a mature offshore basin, the average discovery size has shrunk to a fraction of what it once was with small and medium independent companies dominating the region.
Breitburn Energy Partners LP (NASDAQ:BBEP) and QR Energy, LP (NYSE: QRE) today announced the signing of a definitive merger agreement pursuant to which Breitburn will acquire QR Energy in a unit-for-unit exchange implying a transaction value of approximately $3.0 billion, including QR Energy's existing net debt and outstanding Class C Convertible Preferred Units.
Statoil's (OSE:STL NYSE:STO) second quarter 2014 net operating income was NOK 32.0 billion, a decrease of NOK 2.
Exillon Energy plc (EXI.LN), a London listed independent oil producer with assets in two oil-rich regions of Russia, Timan-Pechora ("Exillon TP") and West Siberia ("Exillon WS"), is pleased to announce unaudited production data for the month of June 2014 ("the Period").
GeoPark Limited (NYSE: GPRK), the Latin American oil and gas explorer, operator and consolidator with operations and producing properties in Chile, Colombia, Brazil and Argentina, today announces its continued expansion in Colombia through the award of a new exploratory license during the 2014 Colombia Bidding Round, carried out by the Agencia Nacional de Hidrocarburos ("ANH") on July 23, 2014 in Cartagena, Colombia. GeoPark was awarded the VIM-3 Block in the Lower Magdalena Basin, covering an area of approximately 225,000 acres.
Ceiba Energy Services Inc. (TSX VENTURE:CEB) announce that it has closed its previously announced $16.
Argent Energy Trust (TSX: AET.UN) report that second quarter 2014 production averaged approximately 6,373 barrels of oil equivalent per day ("boe/d"), (approximately 69% oil and NGLs), exceeding previously announced second quarter production guidance of 6,100 to 6,200 boe/d.
Statoil has been awarded interest in the COL4 licence offshore Colombia in the Caribbean Sea in the 2014 Colombia Licensing Round. Statoil will hold 33,33% in the licence.
Oil Search reports that at 06:00 hours KRI time on 23 July 2014, the Taza 2 well was at a total depth of 4,200 metres in a 6-1/8' hole. During the week, having seen encouraging hydrocarbon shows towards the base of the previously drilled section, a further 102 metres was drilled to the final total depth of 4,200 metres.
Delphi Energy Corp. (TSX:DEE) is pleased to provide the following operations update.
Cabot Oil & Gas Corporation (NYSE: COG) reported its financial and operating results for the second quarter of 2014. Highlights for the quarter include: Production of 127.
Well testing is both a significant expenditure to oil and gas companies and a vital indicator as to whether the well is financially viable or not. Why then don't more companies insist on having a reservoir engineer on the rig to provide an on-site management of the process and an immediate interpretation of the test results? Reservoir engineers are typically involved in the planning phase of the test - before the operations commence - and then in the interpretation of the well test data after the event.
Noble Energy, Inc. (NYSE: NBL) announces second quarter 2014 net income of $192 million, or $0.
President Energy (PPC) announced the spudding of the historic Jacaranda well on 16 June. Jacaranda is the first well to be drilled in Paraguay in many years and is the first in a three-well programme that has the potential to de-risk over 1bnboe of gross unrisked resources across three petroleum systems.
Husky Energy (TSX:HSE) advanced a strong balance of near, mid and long-term projects in the second quarter while generating higher quality returns to sustain growth. "Our continued investment in longer-wavelength projects such as heavy oil thermals, resource plays and oil sands provide steady production and more predictable cash flow to support our growth projects in the Asia Pacific and the Atlantic Regions," said CEO Asim Ghosh.
This past May, with the ending of the third testing of 1X well, Shandong Kerui Petroleum Equipment Co., Ltd.
Highlights Q2 2014 Revenues of $337.0 million, compared to $381.
Fortune Oil (LSE: FTO.L) is a company focusing on crude oil, natural gas and resource supply operations and investments primarily in China.
The next big fight in the war over oil and gas development in the US — or at least one of the next big fights – will be over local control. That issue ramped up this week and appears to raise a significant question of federalism.
Repsol posted net income of 1.327 billion euros in the first half of the year, an increase of 47% from the year-earlier period.
Virtus Oil and Gas Corporation (OTCBB: VOIL) announced final payment for its previously announced 36,787 net acre acquisition in Iron County, Utah, will be paid on August 3, 2014. Upon completion, this will satisfy the total agreed purchase price with a final payment of $100,000.
Sanchez Energy Corporation (NYSE: SN) provides an update on its second quarter 2014 production and operations. Tony Sanchez, III, President and Chief Executive Officer of Sanchez Energy, said: "The second quarter of 2014 was a transformational quarter for the Company as we announced and closed the Catarina acquisition, enabling the Company to significantly increase its reserves and production.
Talisman Energy Inc. (TSX:TLM) (NYSE:TLM) is issuing this press release at the request of Market Surveillance at IIROC on behalf of the Toronto Stock Exchange.
Pétrolia (TSX VENTURE:PEA) announce the adoption of the Regulation respecting water withdrawals and water protection (RRWWWP) by the Ministère du Développement durable, de l'Environnement et de la Lutte contre les changements climatiques (MDDELCC). This regulation stipulates that the minimum distance between a drilling site and a groundwater well must be 500 meters.
Greenfields Petroleum Corporation (TSX VENTURE:GNF) (TSX VENTURE:GNF.DB) announces that pursuant to the terms of the investment and shareholders agreement (the "Shareholders Agreement") with respect to Bahar Energy Limited ("BEL"), Greenfields Petroleum International Company Ltd.
MetricStream, a market leader in enterprise Governance, Risk, and Compliance (GRC) solutions announced today that the government-owned Tanzania Petroleum Development Corporation (TPDC) has gone live with MetricStream's solution for risk-based audit management. Built on an integrated GRC platform, the solution consolidates internal audit activities in a single framework to drive greater transparency and efficiency, while also streamlining end-to-end audit workflows, and strengthening visibility into risks.
| Thursday, July 24, 2014
Hemisphere Energy Corporation (TSX VENTURE:HME) announces that it has closed the acquisition of certain petroleum and natural gas leases in the Atlee Buffalo area of southeast Alberta. The property includes an 85% working interest in 1.
First Mountain Exploration Ltd. (TSX VENTURE:FMX) announces that it has completed an arm's length transaction pursuant to a purchase and sale agreement between the Corporation and an oil and gas producing company whereby the Corporation has divested of certain petroleum and natural gas leases located in the Atlee Buffalo area of Alberta for an aggregate purchase price of CDN$510,000 as previously announced on June 26, 2014.
Fluor Corporation (NYSE: FLR) was chosen by the U.S.
There is no disguising the challenges that Nigeria is facing. The world is well aware of the concerns around terrorism and Nigeria's ongoing struggle with poverty.
| Thursday, July 24, 2014
Oil price A very short blog today, there is virtually nothing going on in either the oil or the equity markets. I am off to see Chariot amongst others and I have a backlog of two or three companies to write about in next few days.
Forum, the UK incorporated oil and gas exploration and production company with a focus on the Philippines, today announces its unaudited interims for the six months ended 30 June 2014. Operational Highlights On 9 July 2014 a one year extension of Sub-Phase 2 of SC72 was announced from the Department of Energy.
Edge Resources Inc. announce that it has agreed a new revolving demand loan facility of up to $17 million (the "Facility") with ATB Corporate Financial Services ("ATB").
Northern Petroleum, the AIM quoted oil company, announces that it has been awarded two permits in Italy. One permit, Cascina Alberto, is onshore in the Po Valley and the other, C.
Northern Petroleum, the AIM quoted oil company focusing on production led growth, announces that it has signed sale and purchase agreements to sell the Company's interests in all of its UK licences and assets for £1.5 million to UK Oil & Gas Investments PLC ("UKOG").
TGS announces two multi-client geochemical seafloor sampling and seep studies offshore Canada and in the Barents Sea. Sampling locations for both programs were identified using recently acquired multi-client seismic data.
Hinto Energy (OTCQB: HENI) announces reserve estimates for its Mason Lakes oil field, located in Musselshell County, Montana. The reserve study, which was conducted by SanTech Upstream, LLC, an independent, third party company, based in Farmington, New Mexico, indicated that the Mason Lake field could have a remaining production life of about 14.
Urals Energy PCL (AIM:UEN), the independent exploration and production company with operations in Russia, announces that on 21 July 2014 the Moscow arbitration court dismissed the claim of UEN Cyprus Limited in respect of a case to recover the sum of US$41,652,000 from Urals Energy (the "Claim") on jurisdictional grounds. Further details of the claim by UEN Cyprus Limited appear in the announcements made on 23 October 2013 and 21 November 2013.
Hess Corporation (NYSE:HES) released its 2013 Corporate Sustainability Report today, a comprehensive look at the environmental, social and governance programs that distinguish the company and its subsidiaries worldwide. The report was released in print and an electronic version is published on the company's website at http://www.
Osage Exploration and Development, Inc. (OTCBB:OEDV) announce a peak twenty-four hour rate on its first operated Horizontal Mississippian well, the Whitten 1-3MH, of 584 Barrels of Oil Equivalent (BOE).
Africa Hydrocarbons Inc. (TSX VENTURE:NFK) reports that its application for a second one-year extension of the Bouhajla Permit is still before the relevant government authorities, as first reported in its press release dated May 29, 2014.
High North Resources Ltd. (TSX VENTURE:HN) is pleased to provide a general corporate and operational update.