OilEarth
Home         Opinion & Commentary         Most Popular         Regions         Contact

Welcome to OilEarth

Quality Oil & Gas news for your iPad or tablet. Our news is powered by our parent site - OilVoice.

Madagascar Oil announces Board changes

Madagascar Oil (AIM:MOIL) today announces the following Board changes, all of which are taking place with immediate effect. Mr Teck Soon Kong, a Non-Executive Director of the Company and nominated representative of Benchmark Advantage Fund Ltd and BMK Resources Limited (the "Benchmark Parties") has, at the direction of the Benchmark Parties, resigned from his position as a representative of the Benchmark Parties and Non-Executive Director of the Board, with immediate effect.
West Europe | Wednesday, October 22, 2014

Total organizes the Group's new governance

Total's Board of Directors met today and paid homage to Chairman and CEO Christophe de Margerie, who died tragically in an airplane accident in Moscow on the night of October 20-21, 2014. After joining the Group in 1974, Christophe de Margerie was appointed to the Executive Committee in 1999, then named CEO of Total on February 14, 2007, and Chairman and CEO on May 21, 2010.
West Europe | Wednesday, October 22, 2014

Royale Energy confirms new high rate well

Royale Energy, Inc. (Nasdaq:ROYL) announce it has achieved a sustained rate of 1,600,000 cubic feet per day after opening an initial 2 feet of a 65 foot gross interval in the recently drilled McKinney well.
North America | Wednesday, October 22, 2014

North Dakota aims to reduce natural gas flaring

Source: U.S.
North America | Wednesday, October 22, 2014

Petro One Energy receives email from KMDC

Petro One Energy Corp. (TSX VENTURE:POP)(FRANKFURT:C6K1) reported on October 8, 2014 that it had closed a private placement of $3,260,842.
North America | Wednesday, October 22, 2014

Magnum Hunter Resources completes production test results on Stewart Winland Pad in Tyler County, West Virginia

Magnum Hunter Resources Corporation (NYSE: MHR) (NYSE MKT: MHR.PRC) (NYSE MKT: MHR.
North America | Wednesday, October 22, 2014

Foster Wheeler awarded EPC contract for ExxonMobil's Antwerp refinery upgrade in Belgium

Foster Wheeler AG (Nasdaq:FWLT) announce that a subsidiary of its Global Engineering and Construction Group has been awarded an engineering, procurement, and construction (EPC) contract by ExxonMobil Petroleum & Chemical BVBA ('Esso') for the Antwerp Northwest Europe Resid Upgrade Project - Revamp and Offsites facilities at the Esso Antwerp Refinery at Antwerp, Belgium. Foster Wheeler's contract value was not disclosed.
West Europe | Wednesday, October 22, 2014

Oil price, Nabors, Shell, Amerisur, Nostra Terra, Sundry and finally...

Oil price Whisper it very quietly..
West Europe | Wednesday, October 22, 2014

3Legs Resources: Admission of ordinary shares to trading on AIM

3Legs Resources plc announces that it has applied for 215,884 ordinary shares of 0.025 pence each ("Ordinary Shares") to be admitted to trading on AIM ("Admission").
West Europe | Wednesday, October 22, 2014

BP announces contracts for Tangguh Expansion Project

Train 3 will build on the safe and reliable operations of the two existing liquefaction trains at the Tangguh site, which is located in Teluk Bintuni Regency in Papua Barat province of Indonesia. The Project will add 3.
Asia Far East | Wednesday, October 22, 2014

EMGS awarded seismic acquisition contract in Malaysia

With reference to stock exchange notice of 6 October 2014, with the announcement of a letter of intent in Malaysia, Electromagnetic Geoservices ASA (EMGS) hereby confirms that the Company has been awarded a contract. The survey will commence on 24 October, using the vessel BOA Thalassa.
Asia Far East | Wednesday, October 22, 2014

Why it's different this time

Is this downturn in oil prices going to be different for investors? I think it might. In fact, I think North American energy companies have a good chance of withstanding this downfall in prices than any other downturn of the last 40 years.
North America | Wednesday, October 22, 2014

Donnycreek Energy Inc. to merge with Contact Exploration Inc.

Donnycreek Energy Inc. ("Donnycreek" or the "Company") (TSX-V: DCK) reports that it has entered into an arm's length definitive arrangement agreement (the "Arrangement Agreement") with Contact Exploration Inc.
North America | Wednesday, October 22, 2014

InterOil Corporation updates on its exploration drilling program in Papua New Guinea

RAPTOR-1, PPL 475 Raptor-1 has intersected 200m of the Kapau Limestone target zone, with wireline logs indicating the presence of hydrocarbons. InterOil Corporation (NYSE, POMSoX: IOC) now plans to conduct well testing to determine the hydrocarbon type, column, flow rate and reservoir quality.
Australasia | Wednesday, October 22, 2014

Shell announces Gabon deep-water gas discovery


Shell today announced a frontier exploration discovery offshore Gabon, West Africa. The well Leopard-1 encountered a substantial gas column with around 200 metres net gas pay in a pre-salt reservoir.
Africa | Wednesday, October 22, 2014

OptaSense provides revenue assurance to LNG pipeline by reducing the impact of third party intrusion

OptaSense, a QinetiQ company and global leader in Distributed Acoustic Sensing (DAS) technology, has successfully prevented external threats to a natural gas pipeline in the republic of Yemen, according to a case study paper due to be presented by Total at ADIPEC, the oil and gas show in Abu Dhabi, 10-13 November 2014. The paper notes 'that since the pipeline intrusion detection system was installed, there has been a significant improvement in pipeline availability and regular LNG shipments.
Middle East | Wednesday, October 22, 2014

Bechtel begins construction on expanded Canadian LNG facility

Bechtel started construction at the Tilbury Liquefied Natural Gas (LNG) facility in British Columbia. FortisBC, the owner and operator of the facility, awarded Bechtel an engineering, procurement, and construction contract to expand its Tilbury facility, which will include a new 1-billion-cubic-foot full-containment LNG storage tank.
North America | Wednesday, October 22, 2014

Southwestern Energy elects Terry W. Rathert to the Board of Directors

The Board of Directors of Southwestern Energy Company (NYSE: SWN) announce that, effective October 20, 2014, Terry W. Rathert has been elected to the Board for a term expiring at the annual meeting of stockholders in 2015.
North America | Wednesday, October 22, 2014

Australia's Empire eyes domestic barite mining opportunity for Africa's largest oil producer

Australian gold and copper explorer, Empire Resources Limited, (ASX: 'ERL') has announced the company is entering a joint venture opportunity in Africa to focus on one of the principal ingredients used in that country's large offshore petroleum industry. The move is the second international foray for Perth based Empire, adding to its current 17% stake in ASX listed FYI Resources which is developing high demand potash interests in Thailand.
Africa | Wednesday, October 22, 2014

Nabors announces third quarter 2014 results

Nabors Industries Ltd. (NYSE: NBR) reported third-quarter 2014 operating revenues and earnings from unconsolidated affiliates of $1.
North America | Wednesday, October 22, 2014

PetroMaroc confirms significant natural gas potential of Kechoula Structure

PetroMaroc Corporation plc (TSXV: PMA) announce that GLJ Petroleum Consultants ("GLJ"), a premier oil and gas resource consulting firm headquartered in Calgary, has completed an independent evaluation of the Undiscovered Petroleum Initially in Place (UPIIP) and prospective resources of the Kechoula structure located in the Sidi Moktar Exploration License, Morocco, incorporating the technical information obtained from the Koba-1 and Kamar-1 wells, which were drilled in 2013 and 2014. GLJ's evaluation report will be available as soon as it has been received, however GLJ has given PetroMaroc permission to report the main conclusions to shareholders and the general public.
North Africa | Wednesday, October 22, 2014

Mart Resources participates in consortium to acquire onshore Nigerian Oil Mining Lease 18

Mart Resources, Inc. (TSX:MMT) announce that it is a member of a consortium (the "Consortium") that has entered into an assignment agreement (the "Assignment Agreement") with The Shell Petroleum Development Company of Nigeria Limited ("SPDC"), Total E&P Nigeria Limited and Nigerian AGIP Oil Company Limited (collectively, the "Sellers") pursuant to which a special purpose company ("Consortium SPV") owned directly or indirectly by the Consortium members will acquire a 45% participating interest in Nigerian Oil Mining Lease 18 ("OML 18") and all associated assets, wells, pipelines and infrastructure.
Africa | Wednesday, October 22, 2014

ShaMaran announces Q3 2014 financial and operating results

ShaMaran Petroleum Corp. (TSX VENTURE:SNM) (OMX:SNM) announce its financial and operating results for the three and nine months ended September 30, 2014.
North America | Wednesday, October 22, 2014

Bell Geospace wins tender for the provision of Airborne Geophysical Surveys in Ethiopia

Bell Geospace is delighted to announce that following a tender submission, it has been awarded the contract for the provision of Airborne FTG & Magnetic Surveys in the Gewane-El Wiha Block, Ethiopia (Afar Area) by GPB Ethiopia Resources B.V.
Africa | Wednesday, October 22, 2014

Canacol Energy announces cash settlement and cancellation of warrants

Canacol Energy Ltd. (TSX:CNE)(OTCQX:CNNEF)(BVC:CNEC) announce the settlement of 2,697,292 outstanding phantom warrants for US$ 3.
North America | Wednesday, October 22, 2014

Savanna Energy Services signs contract to build four new drilling rigs

Savanna Energy Services Corp. (TSX:SVY) announce it has signed a contract to expand its drilling operations in Australia.
Australasia | Wednesday, October 22, 2014

Drilling and fracking operations during Argentine winter impacted by cold weather

Crown Point Energy Inc. (TSX VENTURE:CWV) is pleased to provide an operational update.
South America | Wednesday, October 22, 2014

Albert Taubi has resigned as a director of Mercom Oil Sands

Mercom Oil Sands plc announces that Albert Taubi has resigned as a director of the Company following a bankruptcy order issued against him dated 16 May 2014, notification of which it received today. Patrick Cross, chairman of Mercom Oil Sands plc, commented "the Board accepts Albert's resignation with profound regret, thanks him for his contribution to the Company and wishes him all success in the future.
West Europe | Wednesday, October 22, 2014

Gazprom approves adjusted Investment Program, Budget and Cost Reduction Program for 2014

The Gazprom Board of Directors approved the adjusted Investment Program, Budget (Financial Plan) and Cost Optimization (Reduction) Program for 2014. According to the adjusted Investment Program for 2014, the total amount of investments will make up RUB 1 trillion 026.
Russia FSU | Wednesday, October 22, 2014

Thalassa provides a statement regarding the relocation of UK operations

Thalassa is making a statement following the recent inaccurate press coverage (the "Coverage") made without recourse to the Company or its advisers regarding the lease entered into by the Company with Eastleigh Court Limited ("ECL") for 10,000 sq ft of office space at Eastleigh Court on 3 October 2014 (the "Lease" and the "Property"). The Lease was entered into in order to move the Company's principal UK operations from Bude in Cornwall to an area closer to London and Heathrow and Gatwick airports, which the Independent Directors (i.
West Europe | Wednesday, October 22, 2014

Amerisur forms joint venture with Talisman Colombia

Amerisur Resources announce that it has presented to the Agencia Nacional de Hidrocarburos "ANH" a request for a partial assignment of interest, rights and obligations in the exploration contract Put-30, awarded to Talisman Colombia Oil & Gas Ltd. ("Talisman Colombia") in the Ronda Colombia 2014 licensing round.
South America | Wednesday, October 22, 2014

New oil resources proved in the Grane area

Statoil Petroleum AS, operator of production licence 169, is about to complete drilling of appraisal well 25/8-18 S. The 25/8-4 discovery was proven in 1992 by Norsk Hydro Produksjon AS.
West Europe | Tuesday, October 21, 2014

Quattro intersects 4 prospective horizons at Wood Mountain, Sask

Quattro Exploration and Production Ltd. (TSX VENTURE:QXP) announce the completion of its evaluation well at Wood Mountain, Saskatchewan.
North America | Tuesday, October 21, 2014

Cue increases its interest in Mahakam Hilir PSC, Kalimantan to 100%

Cue Energy Resources Ltd is pleased to advise, that subject to government approvals, it has agreed to acquire a 100% interest in the Mahakam Hilir PSC in the prolific Kutei Basin onshore Kalimantan, Indonesia. Cue will purchase SPC Mahakam Hilir Pte Ltd, which holds the remaining 60% interest in the Mahakam Hilir PSC; under a sale and purchase agreement with SPC E&P Pte Ltd.
Asia Far East | Tuesday, October 21, 2014

Relentless Resources announces Heathdale Glauconite oil well test

Relentless Resources Ltd. (TSX VENTURE:RRL) announce initial test results from the Relentless Heathdale 8-7-27-9 W4 horizontal Glauconite oil well (the "Well").
North America | Tuesday, October 21, 2014

DualEx announces results of BHN-1 well in Tunisia

DualEx Energy International Inc. (DXE, TSX-V) announce that recompletion operations of the Abiod chalky limestone in its BHN-1 well on the Bouhajla Permit, onshore Tunisia, have concluded and the well will be plugged and abandoned.
Middle East | Tuesday, October 21, 2014

Petro-Victory Energy encounters hydrocarbons at the Lapacho well

Petro-Victory Energy Corp. (TSXV:VRY) announce that the Lapacho well, located on the Pirity Block in Paraguay, has encountered hydrocarbons within the Icla Formation at a depth of 3,926 meters.
South America | Tuesday, October 21, 2014

Jericho Oil completes $4.23 million strategic financing with existing shareholders

Jericho Oil Corporation (TSX-V: JCO, Frankfurt: JLM) announce that it has closed its non-brokered private placement financing previously announced on October 9, 2014 by issuing 8,461,036 units (the "Units") at $0.50 per Unit for proceeds of $4,230,517 (the "Offering").
North America | Tuesday, October 21, 2014

Resolute Energy provides operational update and horizontal well results

Resolute Energy Corporation (NYSE: REN) updates certain operating data, provides horizontal well results and provides information for its scheduled conference call to discuss results for the quarter ended September 30, 2014. Our drilling during the third quarter and into the fourth quarter has been focused in Reeves County, Texas (Delaware Basin) andCampbell County, Wyoming (Powder River Basin).
North America | Tuesday, October 21, 2014

Hartgraves 1-5H well flowing back after being completed with BNK Petroleum's largest hydraulic stimulation to date

BNK Petroleum Inc. (TSX: BKX) is providing an update on its Tishomingo Field, Caney shale oil operations in Oklahoma as well as its Polish shale gas project.
North America | Tuesday, October 21, 2014

LDD completes platform jacket foundation installation, offshore Gabon

LDD, an Acteon company, has successfully finished a specialist foundation installation for the Etame Marin block field expansion project, offshore Gabon, West Africa. The company completed the very remote installation safely and on schedule.
Africa | Tuesday, October 21, 2014

Oil price, Total, Ophir, Madagascar, Lamprell, Northern, Sundry-BP-Egdon-Xcite-Faroe, And finally...

Oil price All eyes were on the Chinese data overnight and there was relief that they weren't bad, in the end slightly beating the whisper at 7.3%.
West Europe | Tuesday, October 21, 2014

Calmena announces divestiture of Brazil operations

Calmena Energy Services Inc (TSX:CEZ) announce that it has completed the sale of its Brazil operations, including all of its assets and its wholly owned subsidiary located in Brazil to a private Canadian company for a purchase price of $7.4 million.
South America | Tuesday, October 21, 2014

Taipan Resources announces increase in prospective resources on Block 1 Kenya

Taipan Resources Inc. (TSX VENTURE:TPN)(OTCQX:TAIPF) announce that an independent assessment of the Company's prospective resources on Block 1, northern Kenya has been completed by RPS Energy in the United Kingdom ("RPS").
Africa | Tuesday, October 21, 2014

Tourmaline Oil announces start-up of two gas facilities and record production levels

Tourmaline Oil Corp. (TSX: TOU) announce that two new gas facilities, the Musreau Alberta and Doe B.
North America | Tuesday, October 21, 2014

A fly on the wall at OPEC's November 27th meeting

The next meeting of OPEC ministers is scheduled to take place November 27, 2014 in Vienna. It is not going to be business as usual.
North America | Tuesday, October 21, 2014

Weather conditions continue to hamper seismic contractor's operations in the Gum Deniz Oil Field

Greenfields Petroleum Corporation (TSX VENTURE:GNF)(TSX VENTURE:GNF.DB) provide an update on the continuing redevelopment of the Gum Deniz and Bahar fields in the Bahar Exploration, Rehabilitation, Development and Production Sharing Agreement ("ERDPSA"), Azerbaijan.
Russia FSU | Tuesday, October 21, 2014

Total CEO Christophe de Margerie killed in plane crash


Christophe de Margerie, the CEO of French oil company Total, has died after a plane crashed into a snow plough during take-off in Moscow. "Tonight, a plane crashed when it collided with a snow-clearing machine.
Russia FSU | Tuesday, October 21, 2014

Helix Energy Solutions Group reports third quarter 2014 results

Helix Energy Solutions Group, Inc. (NYSE: HLX) reported net income of $75.
North America | Tuesday, October 21, 2014

McDermott awarded second contract for PETRONAS Bukit Tua Development in East Java, Indonesia

McDermott International, Inc. (NYSE:MDR) announce that one of its subsidiaries was awarded a transportation, installation and pre-commissioning contract by PC Ketapang II Ltd, a subsidiary of PETRONAS, for the Bukit Tua Development Project in the Ketapang block of East Java, Indonesia.
Asia Far East | Tuesday, October 21, 2014

Lamprell successfully completes construction of second Caspian Sea jackup drilling rig

Lamprell (ticker: LAM) announce that it has successfully completed construction of the second Caspian Sea jackup drilling rig, the "Mercury". Completion of this rig is another significant milestone for the Group, particularly as it has been built under challenging conditions but with an excellent safety record and several weeks ahead of schedule.
Middle East | Tuesday, October 21, 2014

Faroe Petroleum hosting site visit for sell-side investment analysts

Faroe Petroleum, the independent oil and gas company focusing principally on exploration, appraisal and production opportunities in the Atlantic margin, the North Sea and Norway, announces that it is hosting a site visit for sell-side investment analysts on Tuesday 21 October and Wednesday 22 October 2014 in Stavanger, Norway. The visit will include presentations by Faroe's management and operational team.
West Europe | Tuesday, October 21, 2014

Rose Petroleum: Issue of equity under farm-in agreement

Rose Petroleum plc (ROSE.L) announce that it has signed an agreement with Rockies Standard Oil Company, LLC.
North America | Tuesday, October 21, 2014

Northern Petroleum refining plans for a first quarter 2015 drilling programme

Northern Petroleum, the AIM quoted oil company focusing on production led growth, provides the following update regarding drilling and production activities in north west Alberta, Canada. Highlights Summer drilling results Three wells targeting the Keg River edge reef now drilled and completed The wells targeted different parts of two reefs to test edge reef development and productivity The first well tested at a constrained rate under natural flow of more than 1,300 barrels of oil per day ("b/d") This well will be produced at a flaring restricted 80 to 100 b/d until tied in; forecast for January 2015 Post tie-in production rate expected to be between 300 and 400 b/d from this one well The second well, targeting an extreme edge reef location, encountered oil saturated reservoir with poor reservoir quality; moderate production contribution expected Additional economic contribution expected from higher gas zone The third well which tested a more central location encountered a water swept reservoir section and will not be produced but suspended as a potential water disposal well Two well drilling campaign currently being planned for Q1 2015Production update The Company's initial three wells have been producing at a combined restricted rate of approximately 140 barrels of oil per production day Tie-in operations to be completed by year end and production raised to between 200 and 250 b/d for these original wells Group production post tie-in of all wells forecast to be between 500 and 650 b/d at which point the Company is forecast to become cashflow positiveCorporate Year end cash position forecast to be in excess of US$12 millionKeith Bush, Chief Executive Officer, commented: "The production capacity of the first well in this campaign is outstanding and it does not take many wells of this calibre to significantly increase the value of the whole project.
North America | Tuesday, October 21, 2014

JKX Oil & Gas provides an update on Elizavetovskoye field, Ukraine

Further to the announcement on 29 September, 2014, JKX Oil & Gas plc ("JKX") is pleased to report that the testing of well E-303 on the Elizavetovskoye field in Ukraine indicates a gross pay of 167 metres spread over eight reservoir horizons. Reservoir properties are analogous to those in the producing wells in the adjacent Machevska field, one of the largest fields in Ukraine, which has a history of significant, sustained production from the deep sandstone reservoirs.
Russia FSU | Tuesday, October 21, 2014

Successful Drill Stem Test on the Fortuna-2 well in Block R, Equatorial Guinea

Ophir Energy plc announces the successful Drill Stem Test (DST) on the Fortuna-2 well in Block R, Equatorial Guinea. Ophir holds 80% of Block R and GEPetrol 20%.
Africa | Tuesday, October 21, 2014

Oilex announces appointment of Chief Financial Officer and Company Secretary

Oilex Ltd (ASX: OEX, AIM: OEX) is pleased to announce the appointment of Mr Chris Bath as Chief Financial Officer (CFO) and Company Secretary, with effect from 24 October 2014. Consistent with Company policy, Mr Bath will not be joining the Board of Directors at this time.
West Europe | Tuesday, October 21, 2014

Commencement of drilling operations at the Burton on the Wolds-1 explorational well

Egdon Resources plc (AIM:EDR) is pleased to announce the commencement of drilling operations at the Burton on the Wolds-1 conventional exploration well in UK Onshore Licence PEDL201 located in Leicestershire. The Burton on the Wolds-1 well "spudded" (began drilling) at 07.
West Europe | Tuesday, October 21, 2014

Eagle Energy Trust seeks unitholder approval to permit investment in Canadian assets

Eagle Energy Trust (TSX:EGL.UN) plans to hold a Special Meeting of unitholders on November 24, 2014 to vote on a special resolution to amend the investment restrictions in Eagle's Trust Indenture to permit the acquisition of Canadian energy assets.
North America | Monday, October 20, 2014

Africa Hydrocarbons provides results of second completion attempt at BHN-1 well in Tunisia

Africa Hydrocarbons Inc. (TSX VENTURE:NFK) announce that recompletion operations of the Abiod limestone in its BHN-1 well on the Bouhajla Permit in Tunisia have concluded and the well will be plugged and abandoned.
Middle East | Monday, October 20, 2014

BSEE awards digital well log data management contract to TGS

The United States Department of the Interior, Bureau of Safety and Environmental Enforcement (BSEE) has entered into a new contract with TGS-NOPEC Geophysical Company (TGS) for well log data management services over the next five years for all four regions of the Outer Continental Shelf (OCS). Under the agreement, TGS will also provide the BSEE with historic data from its multi-client database.
West Europe | Monday, October 20, 2014

Oil price, President, Genel/SL/Serica, Egdon/Europa, Sundry-Range-Afren-Halliburton, And finally...

Oil price There is a slightly better feel about the oil price this morning, US consumer sentiment appears better and it appears that China, as suggested here a number of times, has been buying for its strategic reserves. Elsewhere the Khafji oilfield in the Saudi/Kuwait territory has seen a production halt due to 'environmental' reasons which takes about 300/- b/d off the market, thank goodness for very small blessings.
West Europe | Monday, October 20, 2014

ZaZa Energy announces production results from three East Texas vertical wells

ZaZa Energy Corporation (NASDAQ:ZAZA) announce the one-year production results (October 1, 2013 to September 30, 2014) from three of its East Texas vertical wells in Madison and Walker counties, Texas: Toby #1 ('Toby'). During 336 producing days, average three-stream production for the Toby well was approximately 539 boe/d, consisting of about 230 b/d of liquids and 1,853 mcf/d of natural gas (cumulative one-year production of ~181,069 boe).
North America | Monday, October 20, 2014

Energy XXI announces executive Leadership change

The Board of Directors of Energy XXI (NASDAQ: EXXI) (AIM: EXXI) appointed Mr. Bruce W.
West Europe | Monday, October 20, 2014

TomCo receives tentative approval for LMO permit

TomCo Energy plc (AIM: TOM) report that further to the announcement on 13 January 2014, the Company's Notice of Intention to Commence Large Mining Operations ("LMO") has been tentatively approved by the Utah Division of Oil, Gas and Mining ("DOGM"). The approval is another important step in the environmental permitting process and a requirement under Utah State law to take the Company's Holliday Project into commercial production.
North America | Monday, October 20, 2014

Serinus Energy enters into a contract with Tacrom Drilling SR

Serinus Energy Inc. (TSX:SEN)(WARSAW:SEN) provide the following update on its upcoming two well drilling program in the Satu Mare licence in northwest Romania.
East Europe | Monday, October 20, 2014

Well GY-669 successfully drilled to a depth 2,390 feet measured depth

Leni Gas & Oil announce that well GY-669, the sixth of its planned 30 new development wells at the Goudron Field in Trinidad, and the first well from the third drill pad, has been successfully drilled to a depth 2,390 feet measured depth ("MD"). Based on independent petrophysical analysis of the electric logging the well intersected 227 feet of net oil pay in the Goudron Sandstones.
Central America | Monday, October 20, 2014

Oil decline: Price makes the story

So oft in theologic wars, The disputants, I ween, Rail on in utter ignorance Of what each other mean, And prate about an Elephant Not one of them has seen! --The Blind Men and The Elephant by John Godfrey Saxe When the world's business editors sent their reporters canvassing to find out what is behind the recent plunge in the world oil price, they were doing what they do almost every day for every type of market: stocks, bonds, currencies, commodities and real estate. In financial journalism more often it's the price that makes the story rather than the story that makes the price.
North America | Monday, October 20, 2014

Polarcus awarded 3D seismic acquisition project offshore West Africa

Polarcus Limited (OSE: PLCS) announce that the Company has signed a Letter of Intent ("LOI") with an undisclosed client for a 3D marine seismic acquisition project offshore West Africa. The project, subject to the execution of a service contract, will commence in Q4 2014 and is expected to run for approximately 2 months.
Africa | Monday, October 20, 2014

INPEX commences oil production from Umm Lulu Oil Field

INPEX CORPORATION (INPEX) announce that, through its wholly-owned subsidiary, Japan Oil Development Co., Ltd.
Middle East | Monday, October 20, 2014

New Frontiers: Cutting back natural gas flaring in North Dakota hits a bump

North Dakota has aggressively sought to cut the amount of natural gas flaring going on in the state. It’s made strides, but it has a new hurdle, as Brian Scheid discusses in this week’s Oilgram News column, New Frontiers.
North America | Monday, October 20, 2014

Blackbird Energy announces spudding of first Middle Montney well at Elmworth

Blackbird Energy Inc. (TSX VENTURE:BBI) announce that it has spud its first Middle Montney well at Elmworth.
North America | Monday, October 20, 2014

DONG Energy divests Stenlille Gas Storage Facility to Energinet.dk

DONG Energy and the state owned entity, Energinet.dk, have signed an agreement today under which Energinet.
West Europe | Monday, October 20, 2014

Petrowest announces completion of the acquisition of Trans Carrier Ltd. and Trans Carrier Rentals Ltd.

Petrowest Corporation (Petrowest) (TSX: PRW) announced today that it has closed the previously announced (August 22, 2014) acquisition of all the shares of each of Trans Carrier Ltd. and Trans Carrier Rentals Ltd.
North America | Monday, October 20, 2014

Shale oil production from Bakken, Eagle Ford up 2.1% in September

Oil production from shale formations in North Dakota and Texas increased by 55,000 barrels per day (b/d) or 2.1% in September, according to Bentek Energy, an analytics and forecasting unit of Platts, a leading global provider of energy, petrochemicals, metals and agriculture information.
North America | Monday, October 20, 2014

QEP Resources announces sale of its midstream business to Tesoro Logistics LP for $2.5 billion

QEP Resources, Inc. (NYSE:QEP) announce that its wholly owned subsidiary, QEP Field Services Company ('Field Services'), has entered into a definitive agreement to sell its midstream business, including the Company's ownership interest in QEP Midstream Partners, LP (NYSE:QEPM, 'QEPM'), to Tesoro Logistics LP in an all cash transaction valued at $2.
North America | Monday, October 20, 2014

Preparations underway to perform cased hole testing at SM-1 well, offshore Morocco

San Leon confirms that the SM-1 well in the Sidi Moussa block offshore Morocco has reached a total depth of 2,825mMDBRT (measured depth below rotary table) and encountered oil during drilling operations. Preparations are underway to perform cased hole testing.
North Africa | Monday, October 20, 2014

Serica Energy provides update on Sidi Moussa operations

Serica Energy plc (AIM & TSX: SQZ) confirms that the SM-1 well in the Sidi Moussa block offshore Morocco has reached a total depth of 2,825m MDBRT (measured depth below rotary table) and encountered oil during drilling operations. Preparations are underway to perform cased hole testing.
North Africa | Monday, October 20, 2014

Xcite Energy enters into a Memorandum of Understanding with Baker Hughes

Xcite Energy announces that its 100% subsidiary, Xcite Energy Resources plc ("XER"), has entered into a Memorandum of Understanding ("MOU") with Baker Hughes Limited ("Baker Hughes"), which sets out the principles for the provision of oil field services for the Bentley field and which are likely to include the supply of drilling and completion services, well engineering, electronic submersible pumps and reservoir engineering. Baker Hughes will work with all the key stakeholders in a collaborative manner to develop innovative, field specific technical and commercial oil field services for Bentley, which maximise the economic recovery from the field and the economic return for all stakeholders.
West Europe | Monday, October 20, 2014

FAR strengthens cash position with $46.7 million capital raising

FAR Ltd (ASX: FAR) has completed a placement to institutional and sophisticated investors to raise $46.7 million before expenses by issuing 424,961,685 shares.
Africa | Monday, October 20, 2014

Egdon Resources continues to make good progress across the business

Egdon Resources plc (AIM:EDR), the UK-based exploration and production company with a primary focus on the hydrocarbon-producing basins of the onshore UK, reports the following operations update ahead of the announcement of the Company's Final results scheduled for 11 November 2014. Egdon continues to make good progress across the business.
West Europe | Monday, October 20, 2014

Strategic Planning Priorities for Oil & Gas in 2015

Falling oil prices, operational difficulties and geopolitical uncertainty reflect a complex world. But we believe that companies in the industry would be better prepared to succeed in it by taking five key steps to simplify their planning processes: Have an action plan ready for moves in the oil price, develop a realistic view of costs, ensure operational predictability, get major projects right and think carefully about the resurgence of downsizing in the industry.
West Europe | Monday, October 20, 2014

President Energy makes first ever oil discovery in the Paraguayan Chaco

President Energy announces an update on its Lapacho well, Pirity Concession, Paraguayan Chaco (President 64% operated interest) Highlights Lapacho well discovery President has made the first ever oil discovery in the Paraguayan Chaco Conventional light oil / condensate discovery - expected to be commercial (subject to testing) Drilling is continuing in order to reach the original target of the Santa Rosa sandsJacaranda well update Discovery supports the presence of liquid hydrocarbons in the deeper sandstone reservoirs in Jacaranda 250 meters of liquid hydrocarbon saturation now identified in the shales in Jacaranda Re-entry of Jacaranda now being proposedProduction First phase production commencing during 2015 feasible subject to satisfactory testingPeter Levine, Chairman, commented; "This discovery represents a significant milestone for both President Energy and for the country of Paraguay. President has demonstrated beyond doubt that movable conventional oil does exist in the Paraguayan Chaco.
South America | Monday, October 20, 2014

Quadrise Fuels International announces final results for the year ended 30 June 2014

Quadrise Fuels International plc (AIM: QFI) is the emerging manufacturer and supplier of MSAR® emulsion fuels, a low cost alternative to heavy fuel oil (one of the world's largest fuel markets utilising over 500 million tons per annum) in the global shipping, refining and steam and power generation markets. The Company today announces its results for the year ended 30 June 2014 and gives notice for the convening of an Annual General Meeting ("AGM") of the Company to be held on 28 November 2014.
West Europe | Monday, October 20, 2014

Salamander Energy submits draft shareholder circular to the Financial Conduct Authority

Following the recent announcement on 21 July concerning the transaction to divest of an interest in the Greater Bualuang Area, Salamander today announces that it has submitted a draft shareholder circular to the Financial Conduct Authority. Salamander previously announced on 21 July 2014 the signing of an agreement under which Sona Petroleum Berhard ("SONA") would acquire an effective 40% working interest in the B8/38 concession (containing the Bualuang oil field) and the surrounding G4/50 concession, both located in the Gulf of Thailand (together the "Transaction").
West Europe | Monday, October 20, 2014

Akintola Williams Deloitte finishes fieldwork and issues draft report

Victoria Oil & Gas Plc announce that Akintola Williams Deloitte, Nigeria ("Deloitte"), a member firm of Deloitte Touche Tohmatsu Limited, has finished its fieldwork and issued a draft report relating to development cost contributions by both parties towards the Logbaba gas project. As announced on 24 January 2014, VOG and RSM Production Corporation ("RSM") entered into an agreement to appoint an independent firm to review the cash calls issued to RSM for: RSM's participating interest share of incurred expenses from inception of the Logbaba gas project to 31 December 2013; and An advance for RSM's participating interest share of anticipated expenses for January 2014.
Africa | Monday, October 20, 2014

Northern Petroleum announces completion of the sale of the UK assets

Northern Petroleum, the AIM quoted oil company focusing on production led growth, announces that the previously announced sale of the UK assets for £1.5 million has now completed.
West Europe | Monday, October 20, 2014

Oil Tech Royalties to form joint venture in Kuwait

TXO announces that its investee company, Oil Tech Royalties Inc. ("OTR"), has signed a non-binding letter of intent with Abdulaziz Abdulmohsin Al-Rashed Sons.
Middle East | Monday, October 20, 2014

Union Jack Oil announces hydrocarbon portfolio update

Union Jack Oil plc notes that Egdon Resources plc ("Egdon") has released an RNS containing the following information on Union Jack's interests which include Wressle, Burton on the Wolds, Biscathorpe and North Kelsey: "Additional detailed work has now confirmed the preliminary evaluation of the Wressle-1 well results, which were announced on 2 September 2014 and which indicated potential hydrocarbon bearing zones in three separate reservoir intervals. We are currently finalising the design and logistics for the testing programme and expect to commence testing using a work-over rig during November 2014 following the drilling of the Burton on the Wolds-1 conventional exploration well where operations have now begun.
West Europe | Monday, October 20, 2014

Sir Sam Jonah steps down from the Board of Range Resources

Range Resources Limited announces that Sir Sam Jonah, Non-Executive Chairman, has decided to step down from the Board of the Company effective from the conclusion of the Company's next Annual General Meeting ("AGM"). The AGM will be held at the end of November 2014 (full details of the AGM will be published separately in due course).
West Europe | Monday, October 20, 2014

Europa Oil & Gas provides an update on Wressle-1 well, onshore UK

Europa Oil & Gas (Holdings) plc, the AIM quoted oil and gas exploration and development company with a combination of producing and exploration assets in Europe, is pleased to note the announcement of Egdon Resources today confirming that detailed petrophysical and reservoir engineering evaluation on the Wressle-1 exploration well on the PEDL 180 licence in East Lincolnshire has confirmed the presence of potential hydrocarbon bearing zones in three separate reservoir intervals. Production testing of these intervals using a workover rig is due to start in November 2014.
West Europe | Monday, October 20, 2014

Panorama Petroleum provides an update on Block 26

Panorama Petroleum Inc. (TSX VENTURE:PPA) reported through a news release dated September 29, 2014 that the Company entered into a Memorandum of Understanding ("MOU") with State Petroleum Overseas Inc.
Middle East | Friday, October 17, 2014

Chevron adds new drillship to deepwater operations in the Gulf of Mexico

Chevron Corporation (NYSE: CVX) today announced that the Pacific Sharav, a deepwater drillship built to Chevron's specifications, has arrived in the Gulf of Mexico to work under a five-year contract with Pacific Drilling. The Pacific Sharav is an upgraded Dual-Load-Path, Samsung-12000-design, dynamically-positioned drillship, specially modified to accept a Dual Gradient Drilling System, and able to operate in moderate environments and water depths up to 12,000 feet.
North America | Friday, October 17, 2014

Odfjell Drilling and William Jacob Management form an alliance

Odfjell Drilling and William Jacob Management (WJM) announce the signing of a cooperation agreement under which the companies will mutually deliver engineering services of offshore drilling facilities to the global energy market. The services will include conceptual and front end engineering and design (FEED) studies, project planning, procurement, commissioning / startup, construction management and maintenance.
North America | Friday, October 17, 2014

Eni signs a cooperation agreement with Kogas on upstream and LNG activities

Eni sign a cooperation agreement with Korea Gas Corporation (KOGAS) to further strengthen their relationship in a number of areas, particularly in the upstream and LNG sectors. The agreement will allow the companies to jointly pursue opportunities worldwide.
Africa | Friday, October 17, 2014

GPK declares commerciality for the Shewashan light oil discovery in the Kurdistan Region of Iraq

GPK has declared the Shewashan light oil discovery commercial and is preparing the Field Development Plan (FDP) for submission to the MNR in accordance with the Khalakan PSC. Shewashan-1 produced light oil (45API) on test from reservoir zones in the Cretaceous Shiranish, Kometan and Qamchuga formations.
Middle East | Friday, October 17, 2014

Range announces new credit facility and ratings upgrade

Range Resources Corporation (NYSE: RRC) announce that it has amended and restated its revolving credit facility. The new five-year agreement with a syndicate of twenty-nine financial institutions has a maximum facility size of $4 billion, with an initial borrowing base of $3 billion and $2 billion in commitments.
North America | Friday, October 17, 2014

Oil price, Schlumberger, Petrofac, Lamprell, Pantheon, Aminex and finally...

Oil price I think at the moment we shall call this day, short closing Friday as the market has got used to ‘taking out a Rupert’ during the week and covering the position on Friday to ensure they aren’t left exposed over the weekend. There is nothing much to add this morning on the oil price front, the EIA stats showed a build of 8.
North America | Friday, October 17, 2014

Legacy Oil + Gas announces appointment of Aidan M. Walsh as Director

Legacy Oil + Gas Inc. (TSX:LEG) announce that Aidan M.
North America | Friday, October 17, 2014

Pacific Rubiales signs MOU with Pemex to jointly explore oil & gas business opportunities in Mexico

Pacific Rubiales Energy Corp. (TSX: PRE) (BVC: PREC) (BOVESPA: PREB) announce that it has entered into a three year Memorandum of Understanding and Cooperation (the "MOU") with Mexico's state oil company, Petróleos Mexicanos and its subsidiary entities ("Pemex") establishing the basis for discussions and analysis of potential oil and gas cooperation in Mexico, including exploration, deep-water projects, revitalization of mature fields, heavy and extra-heavy oil onshore and offshore fields, high water production fields and other upstream activities.
North America | Friday, October 17, 2014