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24 Jul 14 PGS announces Second Quarter and First Half 2014 Results
PGS has announced its Second Quarter and First Half 2014 Results. The second quarter was impacted by lower MultiClient revenues than expected, due to lack of pre-funding from the Triton MultiClient survey in the Gulf of Mexico.
24 Jul 14 New Zealand: OMV spuds Whio-1 well in PEP 51313, offshore Taranaki Basin
JV partner Cue Energy Resources has been advised by OMV New Zealand, the Operator of permit PEP 51313, that the Whio-1 exploration well spud on 23rd July. The primary reservoir objectives at Whio are the M2A Sandstone and Mangahewa Formation which are oil bearing in the Maari field.
24 Jul 14 Repsol profit beats forecasts on refining strength
Spanish oil major Repsol posted forecast-beating adjusted profit in the second quarter, as a surge in refining margins helped cushion continued production declines due to shutdowns in Libya.
24 Jul 14 Malaysia: Octanex secures project finance for Ophir development offshore Malaysia
ASX-listed Octanex has announced that limited recourse project finance has been secured for the development of the Ophir field, offshore Malaysia. The Ophir oil field will be developed via a simple stand-alone development with first oil expected in December 2015.
24 Jul 14 Uganda: Tullow receives judgment in its favour following appeal by Heritage
Tullow Oil has announced that Tullow Uganda, its Ugandan subsidiary, has received judgment in its favour in the proceedings against Heritage Oil relating to its indemnity claims against Heritage with regard to Capital Gains Tax payments that Tullow had made on Heritage’s behalf to the Uganda Revenue Authority.
24 Jul 14 Italy: Northern Petroleum announces award of Italian permits
AIM-listed Northern Petroleum has been awarded two permits in Italy. One permit, Cascina Alberto, is onshore in the Po Valley and the other, C.R149.NP, is offshore in the Sicily Channel adjacent to the Northern Petroleum operated permit C.R146.NP.
24 Jul 14 UK: Northern Petroleum sells UK assets to UKOG for £1.5 million
AIM-listed Northern Petroleum 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 ('UKOG').
24 Jul 14 Iraq: Oil Search reports encouraging results at the Taza-2 well in Kurdistan
Oil Search reports that the Taza-2 well in Kurdistan has reached a total depth of 4,200 metres. The well has encountered encouraging hydrocarbon shows and preparations are underway for a comprehensive testing programme, likely to comprise drill stem tests over up to five intervals.
24 Jul 14 Colombia: Statoil awarded licence offshore Colombia
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. Repsol will be the operator of the licence and will hold 33,34%. ExxonMobil Exploration Colombia will hold 33,33%.
24 Jul 14 UK: BG Group considers $1.7 billion North Sea operations sale
Britain's BG Group is considering selling its largest operations in the North Sea for about 1 billion pounds ($1.70 billion), The Times reported on Thursday. BG Group appointed Rothschild to advise on a restructuring in a move that could result in the sale of its Armada, Everest and Lomond platforms, according to the newspaper.
24 Jul 14 Colombia oil auction sells 27 pct of blocks offered
Colombia drew bids for fewer than one third of the blocks it offered at its 2014 oil round on Wednesday, the government said, with most interest in more familiar and explored regions, which may make it tougher to boost stagnant reserves.
23 Jul 14 Talisman Energy says approached by Spain's Repsol about deal
Talisman Energy shares rose 13 percent on Wednesday as it confirmed it has been approached by Spain's Repsol about potential deals, raising the prospect that one of Canada's largest independent oil companies will sell off major assets or be taken over.
23 Jul 14 Repsol says Talisman among potential buy targets
Spanish oil company Repsol said on Wednesday it has been studying different acquisition deals to boost its upstream business, including Canada's Talisman Energy, but that it has not made any firm decision on the matter.
23 Jul 14 UK: Consultation on uHPHT allowance welcomed by Oil & Gas UK
Oil & Gas UK welcomes the announcement that the UK government has published a consultation on a new cluster area allowance to support investment in ultra high pressure, high temperature (uHPHT) oil and gas fields.
23 Jul 14 Russia: Ruspetro announces successful first horizontal well test in the Pottymsko-Inginsky licence area
Ruspetro has announced that a successful ten day flow test has been carried out on the Company’s first multi-stage fractured horizontal well (number 214) in its Pottymsko-Inginsky licence area. After initial clean-up the well produced an average rate of 1,350 bopd over the test period.
23 Jul 14 Namibia: Pancontinental reports encouraging results from early interpretation of EL 0037 seismic following Tullow farm-in
Pancontinental Oil and Gas has advised that the 3D and 2D seismic surveys carried out earlier in 2014 in EL 0037 offshore Namibia are starting to yield very encouraging results. Initial mapping has confirmed at least four main prospects in the 3D area - the Albatross, Gannett, Petrel and Seagull Prospects.
23 Jul 14 Norway: Centrica's 8/10-6 S well near the Ula field disappoints
Centrica, operator of production licence PL 405, has completed drilling of wildcat well 8/10-6 S. The well is dry. The well was drilled 13 kms southeast of the Ula field in the southeastern part of the North Sea.
23 Jul 14 Russia: Rosneft and other Russian firms face 2015 debt refinancing challenge
Russian companies, including oil giant Rosneft, may face challenges refinancing $112 billion in debt due to mature over the next four years, which includes a peak maturity wall to overcome in 2015, a report by Moody's Investors Service said.
23 Jul 14 UK: Celtique Energie refused planning permission to drill in West Sussex
An application for exploratory oil and gas drilling in West Sussex has been turned down. The company behind the application, Celtique Energie, wanted to drill on land between Wisborough Green and Kirdford. However, West Sussex County Council's planning committee unanimously voted to refuse the application.
23 Jul 14 Kazakhstan: Jupiter Energy announces June 2014 Quarterly Report – updates operations
Jupiter Energy has announced its June 2014 Quarterly Report and provided an update on operations at its 100%-owned exploration permit - Block 31 - in the Mangistau Basin, West Kazakhstan.
23 Jul 14 US: Liberty Resources joins shale well data sharing network
Denver-based Liberty Resources are the latest of a series of Operators to start sharing key performance data on the drilling, completions and frac’ing operations of their shale and tight reservoir wells.
23 Jul 14 Norway: Det norske drilling Heimdalshoe Prospect in PL 494 in the Norwegian Sea
JV partner Fortis Petroleum, AziNor Petroleum's Norwegian subsidiary, has been informed by Det norske oljeselskap, the Operator, that the Maersk Giant jack-up rig has spudded exploration well 2/9 – 5 S targeting the Heimdalshoe Prospect in PL 494 in the Norwegian Sea.
23 Jul 14 Sound Oil provides update on institutional investment
Sound Oil, the Mediterranean focused upstream oil and gas company, has announced the issue of shares in respect of the final equity tranche of the £14 million institutional funding first announced by the Company on 25 April 2014.
23 Jul 14 Nigeria: Sirius Petroleum announces conditional placing and subscription to raise up to USD $20.0 million
The funding will be used to bring the offshore Ororo marginal field, located in OML 95, into production. The total field development includes the proposed drilling of three wells, targeting daily total field production of around 6,000 bopd.
23 Jul 14 Kazakhstan: Roxi Petroleum provides update on deep well A5 discovery at the BNG contract area
Roxi Petroleum, the Central Asian oil and gas company with a focus on Kazakhstan, has provided an update following the announcement on 9 July of oil and gas shows having been encountered at the deep well A5 at the BNG contract area.
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