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19 Dec 14 Shelton Petroleum announces agreement to dissolve the cross-ownership with Petrogrand
Shelton Petroleum and Petrogrand have entered into an agreement to dissolve the cross-ownership between the companies through a share swap. The agreement enables Shelton to focus on developing the company and its licence portfolio.
19 Dec 14 Colombia: Canacol Energy acquires VIM 5 and VIM 19 E&P Contracts and Clarinete gas discovery in the Lower Magdalena Valley
Canacol Energy subsidiary CNE Oil and Gas has acquired 100% interest in the VIM 5 and VIM 19 Exploration and Production ('E&P') contracts from OGX Petroleo E Gas.
19 Dec 14 Namibia: Tower Resources resolves Namibia cost dispute
AIM-listed Tower Resources has reached agreement with the Operator, Repsol Exploration (Namibia), relating to the disputed costs associated with the drilling of the Welwitschia prospect, offshore Namibia.
19 Dec 14 Fastnet Oil & Gas announces interim results - updates operations
Fastnet Oil & Gas has announced its interim results for the six month period ended 30 September 2014. Throughout 2014, Fastnet continued its strategy of monetising the Company's existing assets and prudently managing its significant cash reserves in order to create shareholder value.
19 Dec 14 Indonesia: Lion Energy in agreement to explore highly prospective North Sumatran acreage
Lion Energy has announced that it will join forces with conventional PSC holders Bukit Energy and New Zealand Oil & Gas to jointly explore an area within the prolific North Sumatra Basin.
19 Dec 14 Australia: AWE elects not to proceed with VIC/P67 farm-in
Australian energy company WHL Energy has received notification from Peedamullah Petroleum ('AWE') that AWE has elected not to proceed as part of the VIC/P67 Joint Venture. WHL Energy previously identified 14 prosects with total best estimate Prospective Resources of 1,044 Bcf of gas and 31.2 MMbbls of condensate and LPGs.
18 Dec 14 Russia: BASF and Gazprom call off asset swap amid political tensions
Germany’s BASF, the world’s largest chemical company by revenue, and Russia’s Gazprom have called off an asset-swap deal amid mounting political tensions between Russia and the West, BASF said Thursday.
18 Dec 14 Argentina: ExxonMobil makes new shale oil and gas find in Argentina's Vaca Muerta
ExxonMobil said Thursday it has made a new shale oil and gas discovery in the massive Vaca Muerta formation in southwestern Argentina. Exxon said in a statement that it made the find with the La Invernada X-3 well.
18 Dec 14 Portugal: Eni farms into Portugese offshore blocks in deal with Petrogal
Eni has finalised with Petrogal, a wholly owned subsidiary of the Portuguese company Galp Energia operating in the upstream oil & gas, the farm in agreement for the acquisition of a 70% stake and operatorship of the Gamba, Santola and Lavagante permits.
18 Dec 14 Ukraine: EU bans investment in Crimea - targets oil sector and cruises
The European Union banned investment in Crimea on Thursday, halting European help for Russian Black Sea oil and gas exploration and outlawing European cruise ships from calling at Crimean ports.
18 Dec 14 Cote d'Ivoire: Azonto Petroleum granted EEA for Gazelle field in Block CI-202, offshore Cote d'Ivoire
Azonto Petroleum has been advised by its affiliate Vioco Petroleum that the President of Cote d'Ivoire, Alassane Ouattara, has signed an Exclusive Exploitation Authorisation ('EEA') covering the Gazelle field in Block CI-202, offshore Cote d'Ivoire.
18 Dec 14 China ends near decade of rising Iraq crude oil orders
Chinese oil firms will keep the amount of crude they buy from Iraq unchanged in 2015 for the first time in almost a decade, as the need for imports falls and concerns over the quality of the oil persist, five sources with knowledge of the situation said.
18 Dec 14 Norway: Shell agrees sale of some downstream businesses in Norway to ST1
Shell has signed an agreement with ST1 for the sale of its retail, commercial fuels and supply and distribution logistics businesses in Norway. In addition, Shell’s aviation business in Norway will become a 50-50 joint venture with ST1.
18 Dec 14 Norway: Wintershall expects increased recoverable resources for Maria field
Wintershall expects increased recoverable resources for Maria field, offshore Norway. Internal studies forecast an increase of up to 40 million barrels of oil equivalent (boe). The estimated recoverable volumes of the Wintershall discovery have now been raised to some 180 million boe.
18 Dec 14 Russia: PetroNeft Resources provides operations update
AIM-listed PetroNeft Resources, owner and operator of Licences 61 and 67, Tomsk Oblast, Russian Federation, has provided an update on operations
18 Dec 14 Australia: Linc Energy spuds second well in 103 billion barrel Arckaringa Basin
Linc Energy has announced an update on drilling operations in the Arckaringa Basin, where Linc has spudded the Eba 1 well - the second Arckaringa drill well in the current program.
18 Dec 14 UK: Cronx licence extension builds IOG's SNS Gas Hub
AIM-listed Independent Oil and Gas (IOG), the North Sea focused Oil and Gas Company, has provided an update on progress with the Company's Southern North Sea Gas Hub, which includes the Blythe, Cronx and Elgood Gas discoveries.
18 Dec 14 US: Rose Petroleum granted drilling permit for State 1-34 Mancos well
AIM-listed Rose Petroleum has been granted the Drilling Permit from the State of Utah to enable operations to commence at its State 1-34 Mancos well in the Uinta Basin.
18 Dec 14 Tanzania: Solo Oil provides update on Ruvuma PSC, Tanzania
AIM-listed Solo Oil has been advised by Aminex that they have updated their internal resource estimates in the southern part of the Ruvuma Petroleum Sharing Contract area, in which Solo holds a 25% interest, from mean initially in place gas of 2.3 trillion standard cubic feet to 3.2 tcf.
18 Dec 14 Bahamas Petroleum reports Petroleum Act and associated regulations put before Parliament
Bahamas Petroleum Company, the oil and gas exploration company with licences in The Commonwealth of The Bahamas, has announced that a new Petroleum Act and a suite of associated regulations to guide and govern oil exploration in The Bahamas has been placed before the Parliament of The Bahamas.
18 Dec 14 Niko Resources engages financial advisor to pursue strategic alternatives
Niko Resources has engaged Jefferies as its financial advisor to assist the Company in pursuing strategic alternatives including the sale of assets of the Company, a merger or other business combination, the outright sale of the Company, a refinancing of its existing debt with replacement debt, or some combination thereof.
18 Dec 14 Canada: Woodside farms into BP offshore blocks in the Scotian Basin
Woodside has advised that it has finalised an agreement with BP to farm in to offshore blocks in the Scotian Basin, located off the coast of Nova Scotia, Canada. BP accepted Woodside’s offer to acquire a 20% participating interest in exploration licences 2431, 2432, 2433 and 2434.
18 Dec 14 Canada: Husky Energy defers final investment decision on offshore West White Rose extension
Husky Energy will defer the final investment decision on its offshore West White Rose oilfield extension project for a year, the company said on Wednesday. First production for West White Rose was originally anticipated for 2017.
17 Dec 14 UK Oil & Gas Investments announces upgrade on Horse Hill-1 oil discovery volumes
JV partner UK Oil & Gas Investments (UKOG) has announced that, as a result of the analysis and integration of subsurface data from the Horse Hill-1 discovery well, in Weald Basin permit PEDL 137, the calculated estimates of the discovered most likely gross oil initially in place ('OIIP') have been upgraded significantly.
17 Dec 14 Canada: Exxon and ConocoPhillips make record-breaking bid for offshore exploration rights
Exxon Mobil, ConocoPhillips and Canada-based Suncor Energy bid $559 million Canadian dollars for exploration rights in the Flemish Pass offshore Newfoundland in northeast Canada, according to local regulators.
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