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Carrizo Oil & Gas, Inc. (NASDAQ: CRZO) today announced that the company closed its previously announced joint venture transaction in the Marcellus Shale with a subsidiary of Reliance Industries Limited ("Reliance"). In connection with the joint venture, Reliance acquired a 20% interest in approximately 52,200 net Carrizo acres in Pennsylvania considered highly prospective for Marcellus Shale natural gas at a purchase price of $65 million. Reliance paid $11.4 million in cash to Carrizo at closing with $1.7 million more expected later this year. In addition, Reliance will pay an expected $52 million of Carrizo's share of future drilling, completion, and seismic costs ("development carry"). The joint venture agreement is effective immediately. Simultaneous with the closing of this transaction, an affiliate of Carrizo's already existing joint venture partner, Avista Capital Partners ("Avista"), closed on the sale its entire interest in the same properties to Reliance for approximat
by: abarrelfullabarrelfull
14 Sep 2010 08:38
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Chevron Corporation (NYSE:CVX) today announced that it has been granted approval by the Liberian government to acquire a 70 percent interest and operatorship in three deepwater concessions in Liberia. "We are very pleased to participate in Liberia's emerging energy sector," said Chevron Vice Chairman George Kirkland. "Entry into this large prospective offshore area allows us to advance our growth strategy for the region." The deepwater blocks, LB-11, LB-12 and LB-14 are located between 12 to 110 miles (20 to 180 km) south of the capital of Monrovia and cover a combined area of 3,700 square miles (9,600 square km). Under the agreement, Chevron's Liberian subsidiary will conduct a three-year exploratory program that is expected to begin in the fourth quarter of 2010. "These licenses are on trend with new deepwater Cretaceous discoveries in the region and will expand our exploration portfolio in offshore West Africa which has delivered significant production from several basin
by: abarrelfullabarrelfull
14 Sep 2010 06:07
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Chevron Corporation (NYSE:CVX)announced today that its China subsidiary has received final approval to acquire operating interests in three exploration blocks in the South China Sea's Pearl River Mouth Basin. Chevron has acquired a 100 percent interest in blocks 53-30 and 64-18, and a 59.18 percent interest in block 42-05, from Devon subsidiary Devon Energy China, Ltd. The blocks cover an exploratory acreage of approximately 8,100 square miles (21,000 square km). Chevron will be operator during the exploration phase under the amendment agreements to the production sharing contract with China National Offshore Oil Corporation (CNOOC). "Participating in the exploration of this prospective deepwater basin furthers our strategy to grow our business in China and the Asia Pacific region," said Chevron Vice Chairman George Kirkland. Jim Blackwell, president, Chevron Asia Pacific Exploration and Production, said, "We welcome the opportunity to partner with CNOOC and apply our indus
by: abarrelfullabarrelfull
14 Sep 2010 06:06
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in 2003 at a water depth of 210m, is located approximately 45 kilometers off the coast of Exmouth, Western Australia and it straddles both WA-43-L and WA-42-L production license areas. The WA-43-L part of the Ravensworth field has been developed in conjunction with the BHP Billiton-operated Pyrenees oil development located in WA-42-L. The oil produced from WA-43-L is processed for offtake via the FPSO owned by the WA-42-L joint venture in accordance with the tie-in agreement made between WA-43-L and WA-42-L Joint Ventures. INPEX Alpha, Ltd. owns a 28.500% participating interest in the WA-43-L. The Joint Venture partners are BHP BP (39.999%), the operator, and Apache Corporation (31.501%). INPEX has been carrying out exploration, development and production activities widely in Australia including the Van Gogh oil field production and the large scale Ichthys project. INPEX is also involved in the Kitan oil field development and the Bayu-Undan gas/condensate field production in an area
by: abarrelfullabarrelfull
01 Sep 2010 13:03
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INPEX CORPORATION (INPEX) is pleased to announce that it has been granted approval by the authority of the Government of the Democratic Republic of Congo (DR Congo) to acquire a 20% participating interest of the Nganzi Block with SOCO Exploration & Production DRC (SOCO), a subsidiary of SOCO International plc. The Nganzi Block is located onshore western part of the DR Congo, which covers an area of 800km2. In the Block, SOCO will continue to operate with a 65% participating interest, while the National Oil Company, La Congolaise des Hydrocarbures holds a 15% participating interest. Interpretation of the 360 kilometer of the 2D seismic is very encouraging with several large structures identified, three of which will be tested with the initial 2010 drilling programme. The Nganga well, the first well was spudded on 15 July. In the DR Congo, INPEX has a 32.28% interest in the Offshore DR Congo Block, which has been producing crude oil since 1975. The participation in the Nganzi Block wi
by: abarrelfullabarrelfull
26 Aug 2010 05:59
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KBR (NYSE: KBR) announced today that it has been selected by BP to undertake the second stage of concept selection and definition for the onshore terminal and export pipelines for BP's West Nile Delta Development in Egypt. KBR's scope of work under the contract comprises the development of a technical definition package for an onshore terminal that will process 1,000 million standard cubic feet per day of gas and condensate to sales specifications from a number of offshore fields. This award follows the execution of the project's first stage undertaken by KBR and builds upon the feasibility work completed by KBR's consulting subsidiary, Granherne. "As a long time client of KBR, we are proud that BP has once again selected the company as its contractor of choice," said Roy Oelking, President, KBR Oil & Gas. "The project is an important one for the Egyptian market and capitalizes on KBR's experience in this region. We look forward to working with our valued client to achieve th
by: abarrelfullabarrelfull
26 Aug 2010 05:49
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Exterra Energy, Inc. (OTCBB: EENI) announced today that the company has acquired 3,100 acres of mineral leases in the North West corner of the Barnett Shale in the dual oil/gas window of Texas. There are currently 52 wells on the property, of which 44 are producing an average of 35 BOPD. The non-producing eight wells are scheduled to be worked over and put back online immediately. Post work over they are projected to produce 5 BOPD each. This will bring the total daily production to 72 BOPD. The estimated 72 BOPD would calculate to approximately $114,600.00 monthly cash flow post operations and $1,375,200.00 annually. Additional plans are to develop 10 new oil wells at an estimated cost of $75,000.00 per well, totaling $750,000.00. These 10 new wells are projected, by a third party independent engineer, to produce an estimated 20 BOPD each initially, and decline an estimated 25% the first year. The additional initial production would calculate to an estimated 200 BOPD for the 10 new
by: abarrelfullabarrelfull
23 Aug 2010 13:20
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Tests from two discoveries and appraisal well total 8,855 barrels of oil, 4.9 MMcf of gas per day HOUSTON, Aug 18, 2010 /PRNewswire via COMTEX News Network/ -- Apache Corporation (NYSE, Nasdaq: APA) today reported two new oil discoveries and a significant appraisal in the Faghur Basin in the far southwest of Egypt's Western Desert oil and gas province. The Pepi-1X, drilled approximately 6 miles (10 km) south of Apache's Phiops Field, test-flowed at 4,216 barrels of oil and 4.9 million cubic feet (MMcf) of gas per day from a 68-foot gross interval in the Lower Safa formation. The Buchis South-1X, also about 6 miles south of Phiops, logged 131 feet of pay in several Cretaceous zones, including the Kharita and Alam El Buieb (AEB) sands. A test in one AEB zone flowed 1,647 barrels of oil per day. The Faghur-8X step-out appraisal extended the Faghur Field by 1.6 miles (2.7 km) to the east. The well logged 79 feet of stacked Cretaceous pay in multiple AEB sands. A well test in one
by: abarrelfullabarrelfull
19 Aug 2010 05:54
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Devon Energy Corporation (NYSE:DVN) today announced that it has completed the sale of its ACG field located offshore Azerbaijan in the Caspian Sea to BP for $2 billion. Devon's current production from the ACG field is approximately 17 thousand barrels of oil per day. "With the close of ACG, we have received aggregate pre-tax proceeds from the Gulf of Mexico and International divestitures of approximately $6.7 billion," said John Richels, Devon's president and chief executive officer. "The strategic repositioning we announced last November is expected to be complete around year-end with the close of our assets in Brazil."
by: abarrelfullabarrelfull
17 Aug 2010 05:40
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Chevron Corp. (NYSE:CVX) today announced further drilling success in the Carnarvon Basin offshore Western Australia, Australia's premier hydrocarbon basin. The Acme-1 exploration discovery well is located in the WA-205-P permit area offshore Western Australia approximately 93 miles (150 km) from Onslow. Drilled in2,880 feet (878 m) of water to a depth of 15,469 feet (4,715 m), the well encountered approximately 896 feet (273 m) of net gas pay. George Kirkland, vice chairman, Chevron, said, "In terms of net gas pay, Acme-1 is one of our most significant natural gas discoveries in Australia. As our ninth and largest offshore discovery in Western Australia in the last 12 months, it underscores the quality of our drilling program and our commitment to technical excellence and safe operations." Jim Blackwell, president, Chevron Asia Pacific Exploration and Production, said, "We are realizing the opportunities we have as a leading lease holder in the Carnarvon Basin. We expect
by: abarrelfullabarrelfull
17 Aug 2010 05:31
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Woodside advises that the Alaric-1 exploration well in permit WA-434-P has intersected approximately 185 metres gross gas over several zones within the Triassic target. Initial analysis of drilling fluids suggests the gas could be comparatively liquids rich, but this requires confirmation by further analysis. Alaric-1 is currently being deepened to ensure the full gas column is penetrated. Subsequent to drilling, wireline logging will be conducted to recover gas samples and the well will be plugged and abandoned as planned. The Alaric-1 well is located in Woodside’s Claudius hub and significantly extends the area of the known gas province in the Greater Carnarvon Basin. Woodside is operator and 100% equity owner of WA-434-P.
by: abarrelfullabarrelfull
16 Aug 2010 05:59
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Chevron Corp. (NYSE: CVX) today announced a natural gas discovery in the Exmouth Plateau area of the Carnarvon Basin offshore Western Australia. The discovery is located in Australia's premier hydrocarbon basin, where Chevron is a leading lease holder. The Brederode-1 exploration well is located within the WA-364-P permit area approximately 217 miles (350 km) northwest of Onslow. Situated in 4,550 feet (1,387 m) of water, the well was drilled to a depth of 9,022 feet (2,750 m) and encountered approximately 49 feet (15 m) of net gas pay. George Kirkland, vice chairman, Chevron, said, "We are encouraged by the Brederode-1 exploration success, which is further evidence of the natural gas potential in the Exmouth Plateau area and the frontier opportunities offshore northwest Australia." Jim Blackwell, president, Chevron Asia Pacific Exploration and Production Co., said the Brederode-1 discovery, which follows the 2009 Kentish Knock discovery in the same area, extends the gas
by: abarrelfullabarrelfull
13 Aug 2010 11:57
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As operator of Block 17, Total announces the launch of development of the CLOV project and the awards of the principal contracts. This project is the fourth development pole in Angola’s deep offshore Block 17, after Girassol, Dalia and Pazflor. Drilling will start in 2012 and first oil is expected in 2014. Located approximately 140 kilometres from Luanda and 40 kilometres northwest of Dalia in water depths ranging from 1,100 to 1,400 metres, the CLOV development will lead to the four fields - Cravo, Lirio, Orquidea and Violeta – coming on stream. The proved and probable reserves are estimated at approximately 500 million barrels of oil. Yves-Louis Darricarrère, President of Total Exploration & Production, declared: “After Girassol, Dalia and Pazflor, the launch of the CLOV development is a new milestone in Total’s long history in Angola demonstrating the technological capability that we have to successfully manage major projects”. The overall development plan for CLOV u
by: abarrelfullabarrelfull
12 Aug 2010 10:35
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Halliburton (NYSE: HAL) recently performed the first-ever, shale hydraulic fracturing operation in Poland for PGNiG, the state-owned Polish oil and gas company. PGNiG contracted Halliburton to fracture the Markowola-1 exploratory well near Kozienice, Lublin province, to determine if the site contained commercial gas deposits. Increasing demand for natural gas in Poland has companies searching for domestic sources of unconventional gas deposits. European countries have been struggling with declining production and increasing demand, according to published reports. The successful development of shale gas in Europe will provide energy and economic security for consumers. “To have been chosen to provide the first fracture stimulation project in Poland was very exciting for us,” said Brady Murphy, vice president, Halliburton's Europe/West Africa Region. “We can use the experience we have gained and the technology we have developed for use in the unconventional gas plays in the
by: abarrelfullabarrelfull
12 Aug 2010 08:31
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Repsol has made a new gas discovery in the RGD 22 well in Bolivia, successfully completing a project to deepen existing wells to increase hydrocarbon production in that country. The RGD 22 well is located in the Rio Grande contract area, 34 miles southeast of Santa Cruz de la Sierra. This find has gas resources of 1Tcf (trillion cubic feet) equivalent to 10 months’ gas consumption in Spain. As the Rio Grande area already has the necessary infrastructure, these resources can be put into production in a short period of time. This field has been in production since 1968, but in different geological formations to that of the present discovery. Initial production tests in the RGD 22 well show a flow of 6 million cubic feet of gas per day and 160 barrels of condensate. Future wells will allow a more exact calculation of its size. With this discovery, YPFB Andina consolidates its position as the largest hydrocarbon producer in Bolivia. Before the discovery in the RGD 22 well, Andina
by: abarrelfullabarrelfull
10 Aug 2010 10:20
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The Ichthys Project joint venture (INPEX Browse, Ltd. 76%, Operator, and Total E&P Australia 24%) today reached a significant milestone with the release of its Draft Environmental Impact Statement (Draft EIS) for an 8 week public review and comment period. The Draft EIS applies to all aspects of the proposed Ichthys Gas Field Development Project, including the: • offshore processing facilities at the Ichthys Field in the Browse Basin, 200 kilometres off the coast of Western Australia; • subsea gas pipeline to Darwin; and • onshore processing facilities in Darwin. The Project is designed to produce 8.4 million tonnes of liquefied natural gas (LNG) and 1.6 million tonnes of liquefied petroleum gas (LPG) per annum, along with 100,000 barrels of condensate per day at peak. The operating life of the Project is expected to be 40 years. The Draft EIS is the culmination of several years of comprehensive surveys and studies to define the: • existing natural and social environment; • pot
by: abarrelfullabarrelfull
16 Jul 2010 06:45
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Chevron Announces Natural Gas Discovery in Australia
by: abarrelfullabarrelfull
14 Jul 2010 06:17
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PGNiG SA performs fracturing operation on unconventional gas play
by: abarrelfullabarrelfull
14 Jul 2010 05:55
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Results of the Toroa exploration
by: abarrelfullabarrelfull
13 Jul 2010 05:42
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