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Torchlight Energy Resources, Inc. (NASDAQ: TRCH) provided updates on its field operational results through the first quarter ended March 31, 2014.
Africa Hydrocarbons Inc. (TSX VENTURE:NFK) provided the following operational update regarding the Company's BHN-1 exploration well on the Bouhajla Permit (47.
Magnum Energy (TSX VENTURE:MEN) announces that closing of the previously announced transaction with Artisan Energy Corporation ("Artisan") to sell Magnum's 50% working interest in the Provost area of Alberta (the "Provost Asset") for consideration of $5.6 million will not proceed.
Hydrocarb Energy Corporation (OTCQB:HECC) today announced that it has received the final comprehensive report on its recently acquired high-resolution aerial gravity and magnetics survey flown over its Owambo Basin exploration concession in Northern Namibia. The independent analysis and interpretation has indicated the existence of up to 16 additional structural leads in blocks 1714A, 1715, 1814B, and 1815A.
| Wednesday, April 23, 2014
According to a survey from Reuters, Britain will decrease the number of government bonds sold in the coming financial year, as stronger economic growth and public finances reduce borrowing needs. Britain experienced faster than predicted economic growth through 2013, with experts believing that the Office for Budget Responsibility (OBR) will revise its forecast for 2014, which is currently one percentage point below the Bank of England’s forecast at 2.
Octagon 88 Resources (OCTX) is pleased to announce that the operator of the Manning projects has advised Management to spud the first horizontal production well in the Bluesky Gething formation. Octagon 88 anticipates to receive spud dates from the operator post the granting of the drill license.
Pacific Rubiales Energy Corp. (TSX: PRE) (BVC: PREC) (BOVESPA: PREB) today provided an operational update for its first quarter 2014 operating results, which includes estimates of production and sales volumes, price realizations, and operating netbacks, summarized as follows: 1Q 2014 (Estimated) 4Q 2013 (Actual) 3Q 2013 (Actual) 2Q 2013 (Actual) 1Q 2013 (Actual) Net Oil Production (Mbbl/d) 137 - 138 123 117 117 117 Net Natural Gas Production (Mboe/d) 10 - 11 11 11 11 11 Total Net Production (Mboe/d) 147 - 149 134 128 128 128 Sales Volumes (Mboe/d) 151 - 153 143.
Hess Corporation announced today it has sold its interests in both the Sinphuhorm and Pailin Fields located in Thailand to PTT Exploration and Production Public Company Limited for a total after-tax consideration of approximately $1.0 billion, effective July 1, 2013.
Matra Petroleum Plc, the oil & gas focused Investing Company, announces that at the Company's EGM held today, the resolution to approve the cancellation of the admission of the Company's ordinary shares to trading on AIM was duly passed. Accordingly cancellation of trading will take effect from 7.
There are two conflicts raging in Iraq at the moment: the continuing extremist and counter-extremist operations in the northern provinces, and the political conflict that has ignited over the forthcoming elections. In the last two weeks there have been assassination attempts on senior Sunni politicians Vice President (VP) Salah al-Mutlaq, and Usama al-Nujaifi, Speaker of Parliament and leader of the Mutahiddun party.
Pacific Rubiales Energy Corp. (TSX: PRE) (BVC: PREC) (BOVESPA: PREB) announced that members of its Executive Committee met on April 22 with members of Ecopetrol, S.
Leading international oilfield services company, Expro, has secured a milestone subsea contract with BP for the Shah Deniz Stage 2 project in the South Caspian Sea, one of Expro's largest Europe CIS contracts to date. The 5-year contract, worth almost $100m, will see Expro provide completion landing string equipment and services for the installation and completion of Shah Deniz Stage 2 subsea wells, covering 24 new subsea completions.
The sudden resignation of interim Libyan Prime Minister Abdullah al-Thinni on 14 April 2014 sees the loss of a moderate politician who had proved himself able to mediate between warring groups in the South and East of the country. Al-Thinni announced his resignation after his home was attacked by, as yet, unidentified militiamen.
Red Mountain Resources, Inc. (OTC QB: RDMP), a growth oriented energy company engaged in the acquisition, development, and exploration of oil and natural gas properties, announced the following operational update.
Gale Force Petroleum Inc. (TSXV: GFP) (OTCQX: GFPMF) announced that it has entered into a new oil purchase contract with Lion Oil Trading (the "Oil Sales Contract"), pursuant to which the Company will receive an average increase of over $5.
US Oil Sands Inc. (TSXV: USO), a company focused on oil sands exploration and production in Utah, today announced approval of its U.
Ironhorse Oil & Gas Inc. (TSXV: IOG) announces its fourth quarter and full year 2013 financial and operating results and year-end reserves information.
Hercules Offshore, Inc. (Nasdaq: HERO) announced that it has published the April Fleet Status Report ("the Report").
Longreach Oil & Gas (TSXV: LOI) is about to drill into the targeted Lower Liassic formation, the first prospective zone, with the Company's second Moroccan exploration well - Kamar-1 - on the Sidi Moktar onshore licence. "We have set intermediate casing in Kamar-1 at approximately 1,960 metres of total vertical depth (TVD).
Jura Energy Corporation (TSX:JEC) announced that the drilling of Badar-2 development well has commenced in the Badar lease. The projected depth of the well is 1,445 meters, which will target the Sui Main Limestone formation of Eocene age.
Great East Energy, Inc. (OTCQB: GASE) which controls over 160 square miles of producing, clean energy, natural gas holdings through two local operating companies, today announced the Company has signed a letter of intent ("LOI") to joint venture with a leading compressed natural gas ("CNG") distributor and retailer in Ukraine, GASE's home market.
Daybreak Oil and Gas, Inc. (OTCQB: DBRM), a Washington corporation, is pleased to announce that its fully-engineered proved oil reserves significantly increased by 268% to 750,047 Barrels of Oil Equivalent ("BOE") for the fiscal year ended February 28, 2014.
Worthington Energy, Inc. (OTCQB: WGAS), an energy company engaged in the acquisition, exploration, development and drilling of oil and natural gas properties, announces that the Company has completed the acquisition of the oil and gas assets of American Dynamic Resources, Inc.
EnerJex Resources, Inc. (OTCQB: ENRJ) announced the results of its recent workover program in the Company's Niobrara Project located in Northeastern Colorado.
Sigma Cubed Inc. (SIGMA3) announces the appointment of Janet McGuire as Denver Operations Manager for Microseismic and Borehole Seismic Imaging (MS/BSI).
TransGlobe Energy Corporation (TSX:TGL)(NASDAQ:TGA) announce the appointment of Ms. Susan MacKenzie to its Board of Directors.
We have recently commented on various aspects of the skill shortages within our niche areas - notably Oil & Gas and Energy. And we're not alone in highlighting the global talent shortage across these sectors, regular coverage is widespread throughout both industry specific and national news channels.
Baytex Energy Corp. ("Baytex") (TSX:BTE) (NYSE:BTE) today announced the commencement of cash tender offers (each an "Offer" and collectively, the "Offers") relating to any and all of the US$365,000,000 current outstanding principal amount of 9.
Quattro Exploration and Production Ltd. (TSX VENTURE:QXP) announce April 28, 2014 as the anticipated date for the release of our audited financials for the year ended December 31, 2013.
Breitling Energy Corporation (OTCBB:BECC) announced that due to the partial execution of Breitling's business plan its estimated proved, probable and possible oil and gas assets have increased to a net present value of approximately $128 million, using a 10% discount rate, oil priced at $98.68 per barrel and gas priced as $4.
Chestnut Exploration and Production, Inc., a Dallas-based independent oil and natural gas company, announced it has successfully completed the Cherokee #1 JV well in Cherokee County, Texas (Charlie Thompson No.
Technip (Paris:TEC) (ISIN:FR0000131708) (ADR:TKPPY) announced today that it has entered into binding agreement for the divestment of a majority stake of at least 51% up to 75% in Seamec Limited (BSE: 526807, NSE: SEAMECLTD) to HAL Offshore Limited, India at a consideration of Rs 97 per share (translating to €20 million for 51% stake and up to 29 million for 75% stake). This divestment allows for the development of the Seamec business and HAL's and is part of Technip's strategy to concentrate on its core competencies involving deepest subsea complex, deepwater oil and gas developments.
Enterprise Products Partners L.P.
The United States today is a large net importer of crude oil and refined products. And, yet the story that the country can somehow export crude oil as a foreign policy measure to help reduce Ukraine's dependence on Russia won't die.
Horizon Energy Corporation (OTCQB: HORI) announces its initial due diligence is favorable and it will soon be ready to move forward with final negotiations on its option agreement for leases known as the Holmes Oil Unit Number 1 in the East Texas counties of Cherokee and Rusk. The agreement is with Ponta E&P LLP, a Texas partnership involved in oil and gas exploration and production in the area.
McDermott International, Inc. (NYSE: MDR) announced that Gary P.
RWE Supply & Trading announces acquisition of 'Kencot Hill Solar Farm'. The 37 MWp ground-mounted solar PV project will be one of the largest in the UK and is located on a disused airfield in Oxfordshire, England.
In continuation of the fund raising programme initiated in FY 2012-13, RIL has tied up Export Credit Agency (ECA) facility of up to USD 550 million co- financed by JBIC and a group of other Japanese banks backed by NEXI to part finance the proposed expansion of its petrochemical plants and setting up new gasification plant and refinery off-gas cracker over the next two to three years. This is RIL's eighth ECA facility for the largest capital expenditure program it has undertaken.
FAR Ltd has received a number of shareholder enquiries about the current drilling program in Senegal and future plans in Kenya. FAR is currently drilling the first of two potentially high-impact exploration wells offshore Senegal, with its joint venture partners Cairn Energy of the UK, ConocoPhillips of the USA and Petrosen the Senegalese national oil company.
| Wednesday, April 23, 2014
Summary Year-to-date trading continues to be in line with expectations however North American currencies remain weak versus Sterling Order intake and forward visibility remain good Order book at 31 March 2014 £4.2 billion (December 2013: £4.
Cape Plc, the international provider of critical support services to the energy and mineral resources sectors, announces its subsidiary, Cape Hong Kong Fuji (CHKF), has been awarded a three year contract with a major power supplier in Hong Kong, for the provision of safe access services and associated services. Cape acquired Hong Kong Fuji Technology, now CHKF, in March 2012, in order to expand the Group's presence in this region.
Kentz Corporation Limited (LSE: KENZ), the holding company of the Kentz engineering and construction group, is pleased to announce the award of a major five-year cost reimbursable contract by Fluor Kuwait Company, with an estimated value of US$125m. Under the terms of the contract, Kentz will supply multi-discipline technical and supervisory personnel on a reimbursable basis to meet Fluor's supplementary manpower requirements on Fluor's Consultancy Services in Project Management and Related Activities contract for Kuwait Oil Company.
Plexus Holdings PLC, the AIM quoted oil and gas engineering services business and owner of the proprietary POS-GRIP® friction-grip method of wellhead engineering is pleased to announce that it has been awarded a contract with new customer Galp Energia Tarfya, B.V.
The Board of Mediterranean Oil & Gas Plc (AIM: MOG) is pleased to announce the following operational update for the three months ended 31 March 2014. Production and Revenues Production: MOG's total net production for Q1 2014 was 4.
Max Petroleum Plc, an oil and gas company focused on Kazakhstan is pleased to announce the successful drilling results of an appraisal well in the East Kyzylzhar I Field. The KZIE-5 appraisal well has reached a vertical depth of 1,295 metres with electric logs indicating seven metres of net oil pay in two Jurassic reservoirs over a 22 metre gross interval at vertical depths between 1,150 and 1,172 metres.
BP today announced that it has agreed to sell interests in four BP-operated oilfields on the North Slope of Alaska to Hilcorp. The sale agreement includes all of BP's interests in the Endicott and Northstar oilfields and a 50 percent interest in each of the Liberty and the Milne Point fields.
Ring Energy, Inc. (NYSE MKT: REI) announced its operations update for the first quarter of 2014.
NEOS GeoSolutions, Inc. announced that it has appointed Larry Scott as Vice President of Global Sales.
Quantum Energy, Inc. (PINKSHEETS: QEGY), announced that it has received a Conditional Commitment Letter from NBM Strategic Capital and its Grey Fox private equity arm for the $250 million dollar projected cost to construct the Fairview Refinery in East Fairview, North Dakota.
Magnum Hunter Resources Corporation (NYSE: MHR) (NYSE MKT: MHR.PRC) (NYSE MKT: MHR.
Noble Corporation plc (NYSE: NE) announced that Steven A. Manz has been appointed to the position of Senior Vice President and Chief Financial Officer of Paragon Offshore Ltd.
Serinus Energy Inc. (TSX:SEN)(WARSAW:SEN) is pleased to provide the following update for its first quarter operations.
Deep Well Oil & Gas, Inc. (OTCQB:DWOG) is pleased to announce the following operations update on its joint projects located in Sawn Lake, Alberta.
Intertek, a leading quality solutions provider to industries worldwide, is exhibiting its global lubricant and oil condition monitoring (OCM) testing capabilities and expertise at the NORIA Reliable Plant 2014 conference in San Antonio, Texas, USA, April 22-24, 2014. Intertek's exhibit is located at space 719.
ERHC Energy Inc. (OTCBB:ERHE), a publicly traded American company with oil and gas assets in Sub-Saharan Africa, today announced the start of a 2D seismic program covering at least 1,000 line kilometers on Block 11A in the Republic of Kenya.
| Tuesday, April 22, 2014
Baker Hughes Incorporated (NYSE: BHI) and Aker Solutions ASA (OSE:AKSO) have agreed to form an alliance to develop technology for production solutions that will boost output, increase recovery rates and reduce costs for subsea fields. The non-incorporated alliance will combine Aker Solutions' strengths in subsea production and processing systems with Baker Hughes' expertise in well completions and artificial-lift technology to deliver reliable, integrated in-well and subsea production solutions that will help mitigate risk, accelerate output and extend the life of subsea fields.
Cardinal Energy Group, Inc. (OTCQB: CEGX) announced that the Company sold $3.
Odfjell Drilling's sixth generation semisubmersible, Deepsea Atlantic, resumed drilling operations for Statoil on the Gullfaks field late evening on 20 April 2014 after an efficient and successful yard stay. The special periodic survey and the planned modifications were executed in 25 days, five days ahead of the scheduled 30 days and within budget of USD 55 million.
Lucas Energy, Inc. (NYSE MKT: LEI) announced that on April 21, 2014, it completed the sale of equity securities as previously announced, to funds managed by Ironman Energy Master Fund and John B.
The Minister of Energy and Chairman of the Board of Directors of Empresa Nacional Del Petróleo (ENAP), Máximo Pacheco, informed that ENAP's Board accepted the resignation of Julio Bertrand, as the company's Chief Executive Officer, effective from May 12 of the current year. In his replacement, the President of the Republic Michelle Bachelet, has appointed Marcelo Tokman Ramos, a position which was ratified by the company's Board of Directors.
Hawk Exploration Ltd. announces that it has filed on SEDAR its audited annual financial statements, and related management's discussion and analysis.
Lilis Energy, Inc. (Nasdaq:LLEX), an oil and gas exploration and production company focused on development in the Wattenberg Field and surrounding areas of the Denver-Julesburg (DJ) Basin, received a letter on April 17, 2017 from the Nasdaq Stock Market LLC ("Nasdaq") notifying Lilis Energy that it was no longer in compliance with Nasdaq Rule 5250(c)(1) related to the filing of periodic financial reports with the Securities and Exchange Commission.
MEO Australia Limited (ASX: MEO) has been advised by the National Offshore Petroleum Titles Administrator (NOPTA) that the Territory of Ashmore and Cartier Islands Offshore Petroleum Joint Authority has approved applications for work program variations for Exploration Permits AC/P50 and AC/P51 in the Vulcan Sub-Basin. MEO applied for the work program variation to allow additional geotechnical studies to be completed ahead of any requirement to drill a well in each of the permits.
Cooper Energy announces that Bungaloo-1, the second of two deep wells targeting the Casterton Formation within the Penola Trough of the onshore Otway Basin, was spudded in PEL 494 at 12:30 on 19 April 2014 by Ensign rig 916. At 06:00 today the well was at a depth of 617 metres in the Eumeralla Formation and running in hole with 13-3/8' casing in accordance with the drilling programme.
Blackford Dolphin Class renewal survey: The need for additional structural upgrades of Blackford Dolphin has been identified. Finalization of these upgrades is estimated to be completed in June.
Everyone is talking about Big Data these days: how to capture it; how to manage it; how to store it; how to use it. Businesses that deal in physical commodities, such as oil and gas, are no exception.
CNOOC Limited (NYSE: CEO, SEHK: 00883, TSX: CNU) announced its key operational statistics for the first quarter of 2014. In the first quarter, the Company achieved a total net production of 108.
GulfMark Offshore, Inc. (NYSE:GLF) announced its results of operations for the three-month period ended March 31, 2014.
FX Energy, Inc. (NASDAQ: FXEN) reported today that it has completed a successful production test of the Tuchola-4K well.
ACE Group announced the release of a new advisory, 'Energy Exploration and Production: Transportation Risk,' offered through ESIS, Inc., a risk management services company and member of ACE Group.
Helix Energy Solutions Group, Inc. (NYSE: HLX) reported net income of $53.
Crown Point Energy Inc. (TSX VENTURE:CWV) announces its operating and financial results for the three months and year ended December 31, 2013.
Cinderella Gas at the Thieves Ball Simple questions can have complicated answers, but for Cinderella Gas the clock has a habit of chiming 12-midnight all too often. The simple question is how come natural gas in the USA has grave problems to even attain $27.
Simba Energy Inc. (TSX VENTURE:SMB) (FRANKFURT:GDA) (OTCQX:SMBZF) advises that it has signed an agreement with Bell Geospace to conduct a comprehensive airborne FTG (Full-Tensor Gradiometry) survey on Block 2A in Kenya.
| Tuesday, April 22, 2014
Lundin Petroleum AB (TSX:LUP)(OMX:LUPE) will expense exploration costs of approximately MUSD 127 for the first quarter of 2014 (the Period). These expenses will be offset by a tax credit of MUSD 61 giving an after tax net impact to the income statement for the Period of MUSD 66.
RiverRock Energy, LLC announced an initial equity commitment of $125 million from private equity firm EnCap Flatrock Midstream ('EnCap Flatrock') and management. RiverRock will develop midstream solutions for oil and gas producers and other customers needing crude oil logistics services to gather, store and transport crude oil by pipeline and rail.
Horizon Energy Corporation (OTCQB: HORI) is in talks with Beijing ECHO Technologies Company, Ltd. to supply rod pump controller technology for oil and gas well head monitoring and control.
NORTH STOCKYARD PROJECT, WILLIAMS COUNTY, NORTH DAKOTA Samson’s infill development plan for North Stockyard is to drill 8 middle Bakken wells and 8 Three Forks wells. For ease of reference, the current status of each well is set out below with separate tables for each drill pad: TOFTE 1 PAD Lateral length Objective Status IP rate BOPD Current rate BOPD Cum to Date BO Billabong 2-13-14HBK 6,147 ft.
OAO NOVATEK announced today that the Annual General Meeting of Shareholders ('AGM') approved the election of new members to the Board of Directors. The following members were elected to the Board of Directors: Andrei I.
Range wishes to provide the following update on the Company's corporate and operational activities. Trinidad Update Operations continue without any safety or environmental incidents and have been LTI-free since September 2013.
Amerisur Resources PLC, the oil and gas producer and explorer focused on South America, announces results for the year ended 31 December 2013. Financial highlights: Revenue up 301.
Genel Energy plc issues the following Interim Management Statement for the period from 1 January 2014 to today. This statement is issued ahead of Genel Energy's Annual General Meeting, which is being held at 11.
Dragon Oil plc (Ticker: DGO), an international oil and gas exploration, development and production company, today issues its Interim Management Statement in accordance with the EU Transparency Directive. The statement covers the period from 1 January 2014 to date.
Green Dragon Gas Ltd (AIM: GDG), one of the largest independent companies involved in the production and sale of CBM gas in China, is pleased to announce that it has commenced a non-deal road show in Europe, the United States and Asia, including Australia. The purpose is to further the understanding of the latest press releases from the Company.
Nostra Terra (AIM:NTOG), the oil and gas exploration and production company with a growing portfolio of assets in the USA, is pleased to provide an operational and production update. Monthly Production (Net) Month - Total Net* Production (BOE) November - 1,679 December - 1,362 January - 1,964 February - 1,850 *Net to Nostra Terra's working interests, after royalties (NRIs range from 78% to 81%) Q1 2014 Operations Update Since the last Quarterly Operations Update on 13 January 2014 (for Q4 2013), the Company has elected to participate in 3 additional wells (CT13-CT15) in the Hunton Limestone formation where the Company has experienced repeated drilling success.
Kea Petroleum plc (AIM: KEA), the oil and gas company focused on New Zealand, is pleased to announce the appointment of Dr Ian Brown from 1 May 2014 as Managing Director of the Company's operating subsidiaries in New Zealand. Ian replaces the current Managing Director, Mr Richard Parkes, who leaves the Company on 15 May 2014.
Oilex Ltd (ASX: OEX, AIM: OEX,) is pleased to announce that the 4 ½ inch production casing has been successfully set and cemented on 19 April 2014. The wellbore is now secured for the fracture stimulation programme.
Tower Resources plc (TRP.L, TRP LN), the AIM-listed Africa-focussed oil and gas exploration company, through its wholly-owned subsidiary, Neptune Petroleum (Namibia) Limited ("Neptune"), expects formal notification from Repsol Exploration (Namibia) (Pty) Limited ("Repsol"), the Operator of Namibia PEL0010 (Neptune 30% working interest), that the Rowan Renaissance Drillship will commence drilling operations in Walvis Bay, Namibia by 25 April, 2014.
| Tuesday, April 22, 2014
Gasol plc, the gas to power company for future generations, is pleased to announce that African Power Generation Limited ("AfGen") has signed a Joint Venture Agreement ("JVA") with Ghana National Gas Company Ltd. ("Ghana Gas") aimed at providing additional gas to Ghana.
| Tuesday, April 22, 2014
Explorers should be deeply troubled by recent events, namely: 1. The general lack of success, especially in Frontier plays, and the evident lack of New Ideas and instead the re-cycling and re-hashing of old ones.
Terraseis, a seismic acquisition contractor focused on operating in challenging environments, is deploying a Three-Component seismic recording system in the Kurdish Region of Iraq to carry out a seismic 3D survey that shall include 3-C data acquisition. This shall be the first 3-C project in Kurdistan and follows on a string of seismic firsts achieved by Terraseis during its thirty previous projects in Kurdistan since 2005; First Magnetotellurics (MT) survey (2013), First use of wireless recording system technology (2012), First seismic transition zone survey (2012), First seismic survey using a local security contractor (2008), First explosive source seismic survey (2007), First 3D mountain acquisition project (2007), First seismic acquisition project in KRI (2005)John Bryant, Vice President of Business Development for Terraseis, stated "Terraseis continues to focus on supporting our clients with their developing technical requirements in Kurdistan Region of Iraq and continuing to refine our ability to carryout seismic projects in challenging environments.
Suncor Energy regretfully reports there has been an employee fatality at its Oil Sands site on Sunday, April 20, 2014. Suncor emergency service personnel responded at approximately 11:30 a.
TransCanada Corporation (TSX:TRP) (NYSE:TRP) today released the following statement from Russ Girling, TransCanada's President and Chief Executive Officer, related to another process delay announced by the U.S.
Rapidly increasing oil and gas production in Texas is creating unprecedented job and population growth in the state, and Taylor Consulting, Inc. (OTCBB: TAYO) is making plans to capitalize on a booming real estate market there.
Horizon Energy Corporation (OTCQB: HORI) announces the initial geological report is positive, as it considers a recent option agreement for a two-tract oil and gas lease totaling 1,340 acres in Webb County, Texas. The report states there are approximately 24 million barrels of oil remaining in the field with about 20% of it underlying the Horizon leasehold, which equals 4.
Steve Farris runs a $33 billion Texas oil and gas company and turns, for advice, to a bearded Vermont environmentalist. As other energy firms battled climate change and anti-pollution activists in recent years, the Apache Corp chief executive instead built an alliance with Steven Heim, managing director of Boston Common Asset Management, one of the better-known socially responsible investment firms.
Oilfield services providers Schlumberger Ltd and Baker Hughes Inc each posted better-than-expected quarterly profit on Thursday, though they said pockets of weakness loom in Brazil, Canada, Russia and other drilling regions. The results highlight a rapidly changing landscape for the oilfield service industry, where companies are competing for a smaller number of new contracts in North American shale fields.
Turkey will seek a discount in the price of gas it buys from Russia in talks with the deputy head of state-controlled Gazprom next week when he visits Ankara, Turkey's energy minister said on Friday. "The contract we have with Russia gives us the right for a price revision.