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12 Mar 20
President Energy provides market update
AIM-listed President Energy, the energy company with a diverse portfolio of production and exploration assets focused primarily in Argentina, has provided an update to the market on certain relevant matters pertinent to current conditions.
12 Mar 20
Zenith Energy announces update on acquisitions
Zenith Energy has provided an update on its recently announced acquisitions in Africa and Italy, in view of the recent volatility in oil prices and financial markets.
12 Mar 20
ADNOC positioned to increase supply to over 4 MMBPD in April 2020
ADNOC has announced that, in line with its production capacity growth strategy announced by the Supreme Petroleum Council, it is in a position to supply the market with over 4 MMBPD in April. In addition, it will accelerate its planned 5 MMBPD capacity target.
12 Mar 20
Horizon Oil well placed to manage current volatile oil price environment
Australia's Horizon Oil said it is well placed to manage its way through the current volatile oil price environment, given its strong hedge position to mitigate against short term oil price volatility.
11 Mar 20
Thailand: Tap Oil announces G1/48 Concession Gulf of Thailand JV restructuring
Tap Oil has provided an update on the joint venture over the G1/48 Concession in the Gulf of Thailand, which includes the Manora Oil Field Production Area and is operated by MP G1 (Thailand) (Operator), a subsidiary of Mubadala Petroleum. Northern Gulf Petroleum has agreed to transfer its 10 percent shareholding in the G1/48 Manora block to the operator Mubadala Petroleum G1 (Thailand).
11 Mar 20
Australia: Armour Energy and Australia Pacific LNG JV awarded PL1084
The Queensland Department of Natural Resources, Mines and Energy (DNRME) has formally granted Petroleum Production Licence PL1084 to a Joint Venture comprising Australia Pacific LNG (APLNG) and Armour Energy. The award will allow the JV to develop up to 103 petajoules of gas over 30 years commencing 2021.
11 Mar 20
Occidental reduces dividend and capital spending
Occidental Petroleum has approved a reduction in the company’s quarterly dividend and has also announced it will reduce 2020 capital spending to between USD3.5 billion and USD3.7 billion from USD5.2 billion to USD5.4 billion and will implement additional operating and corporate cost reductions.
11 Mar 20
Pharos Energy announces 2019 preliminary results
Pharos Energy has announced its preliminary results for the year ended 31 December 2019 and provided an update on its operations in Egypt, Israel and Vietnam.
11 Mar 20
Trinidad: Touchstone's Cascadura well tests deliver combined average of over 10,600 boe/d
Touchstone Exploration has announced production testing of the Cascadura-1ST1 liquids rich gas discovery on the Ortoire exploration block, onshore Trinidad and Tobago, has delivered a combined average of over 10,600 boe/d.
11 Mar 20
Norway: Coronavirus confirmed at Equinor's Martin Linge platform in the North Sea
Equinor has confirmed that one person at the Martin Linge field in the North Sea has tested positive for the corona virus. The person is not seriously ill. Equinor is in dialogue with the Norwegian health authorities about further measures.
11 Mar 20
Australia: Production recommences at Triangle Energy's Cliff Head oil field
Triangle Energy has confirmed that production has recommenced at the Cliff Head Alpha Platform, approx. 14km offshore in the Perth Basin, Western Australia.
10 Mar 20
US: 88 Energy provides update on Charlie-1 appraisal well at Project Icewine
88 Energy confirms that the Charlie-1 appraisal well has reached 3,500 ft depth and casing will now be run, as planned. The Charlie-1 appraisal well has been designed as a step out appraisal of a well drilled in 1991 by BP Exploration (Alaska) called Malguk-1.
10 Mar 20
Australia: Cooper Energy announces first flow of gas from the Sole gas field to the Orbost Gas Processing Plant
Cooper Energy has announced the Sole Gas Project has passed a critical milestone with the first flow of gas from the Sole gas field to the Orbost Gas Processing Plant for the second, and final, phase of commissioning.
10 Mar 20
Marathon announces USD500 million reduction to 2020 capital budget
In light of the dramatic fall in commodity prices, Marathon Oil has announced an immediate capital spending reduction of at least USD500 million relative to its previously communicated 2020 capital spending budget of USD2.4 billion.
10 Mar 20
UK: Tailwind submits Environmental Statement for Evelyn development
Tailwind Energy, an oil and gas venture founded in 2016 and supported by Mercuria and Petrofac, has submitted an Environmental Statement for the development of the Evelyn field in Block 21/30f in the UK Central North Sea. Tailwind will make a final investment decision on the Evelyn field in 2020, conditional upon the approval of the Environmental Statement.
10 Mar 20
Cairn Energy announces full year results
Cairn Energy has announced its full year results for the year ended 31 December 2019. The Company's strong operational performance in 2019 was delivered through production and cash flow generation at the top end of guidance and the Group ended the year with an increased net cash position and undrawn debt facilities.
10 Mar 20
Norway: Equinor granted drilling permit for well 35/10-5 in PL 827 S
The Norwegian Petroleum Directorate has granted Equinor a drilling permit for wildcat well 35/10-5 in production licence PL 827 S. The well will be drilled about 11 kms southwest of the Vega field.
10 Mar 20
US: Fugro and NOAA collaborate on new ‘opportunistic’ approach to US EEZ mapping
Fugro has partnered with the US National Oceanic and Atmospheric Administration Office of Ocean Exploration and Research (NOAA OER) to establish a new ‘opportunistic’ approach for mapping deepwater areas of the US Exclusive Economic Zone (EEZ).
10 Mar 20
UK: RockRose Energy completes the first of two infill development wells at West Brae
Rockrose Energy has announced the first of two infill development wells at West Brae has successfully completed and is delivering in line with expectations. The two wells are designed to access over 3 MMbbl of net 2P reserves and add net production of 2,500 bopd.
10 Mar 20
Jadestone Energy responds to oil price volatility
Jadestone Energy, responding to the recent fall in global oil prices, reports that the Company’s existing hedging programme provides very strong downside oil price protection. With its strong net cash position and positive ongoing cashflow generation, the Company is well positioned to take advantage of inorganic growth opportunities, should the right asset(s) emerge.
10 Mar 20
Egypt: SDX Energy announces result of Rabul-3 well, West Gharib Concession, Egypt
SDX Energy has announced the result of the Rabul-3 development well in the West Gharib Concession in Egypt. The well will be completed as a producer later this month and is expected to be brought on-line at an average stabilised rate of approx. 300 bopd, which is at the upper end of pre-drill expectations.
10 Mar 20
UK: Awilco signs contract with Petrofac for Rubie and Renee field abandonment
Awilco Drilling has confirmed that a contract has been signed with Petrofac for the provision of WilPhoenix for a three well Plug & Abandonment program on the Rubie and Renee fields in the UK North Sea.
10 Mar 20
VAALCO Energy announces Q4 and full year 2019 results and reserves update
VAALCO Energy has reported operational and financial results for the fourth quarter and full year of 2019. The Company reports net income of USD1 million for the fourth quarter of 2019.
10 Mar 20
Peru: PetroTal provides liquidity update
PetroTal, the Peruvian focused E&P company, has provided a liquidity update in relation to the global retraction in oil prices, and global market decline.
10 Mar 20
US: TGS and Fairfield Geotechnologies to acquire new high-resolution 3D seismic survey in the Delaware Basin
TGS and Fairfield Geotechnologies have agreed to acquire a new multi-client survey within the previously announced Area of Mutual Interest (AMI) established between the two companies in June 2018. The companies have commenced operations on The Channel 3D survey in Lea County, New Mexico.
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