Tuesday, April 7, 2020

Oil Pay News

Equinor Finds Oil at Monument Prospect in U.S. Gulf of Mexico

Pacific Khamsin drillship - Image credit: Equinor

Norwegian oil firm Equinor, with partners Progress Resources and Repsol, has made an oil discovery in the Monument exploration well in the US Gulf of Mexico.The Monument exploration well found approximately 200 feet (c. 60 meters) of net oil pay with good reservoir characteristics in Paleogene sandstone. This provides an early indication of the productive reservoir interval at the well location…

Apache Makes Major Discovery Offshore Suriname

Photo courtesy of Total

Apache Corp and Total SA said on Tuesday they had made a major oil discovery in a closely watched area off the coast of South America's Suriname, sending Apache's shares surging nearly 27%.The discovery, dubbed "among the most anticipated in the world" by one brokerage, is seen as central to Apache's efforts to reduce its reliance on the Alpine High venture in Texas' Permian basin…

W&T Strikes Oil in US Gulf of Mexico

Image: Kosmos Energy

Oil and natural gas producer W&T Offshore has discovered oil at the Gladden Deep prospect in Mississippi Canyon block 800 in the deepwater Gulf of Mexico.W&T is operator of the well, which is one of 14 planned for the drilling program under the Monza JV. The company owns a 17.25% interest in the discovery.Gladden Deep is located in approximately 3…

Repsol, LLOG to Partner on Deepwater US Gulf Developments

Image: Repsol

The U.S.-based exploration and production company LLOG Exploration Offshore and  Spanish oil company Repsol announced the signing of an Asset Exchange and Joint Participation Agreement in the deepwater Gulf of Mexico.The agreement provides for the drilling of a delineation well at Repsol’s Leon discovery and covers Keathley Canyon blocks 642, 643, 686 and 687.

President Energy Strikes Oil in Argentina

Image: President Energy

UK-based oil and gas company President Energy President Energy has encountered oil in the third and final well of its current drill programme at the Puesto Flores concession in Argentina.Well PF0 1005 has been drilled, logged, cased and cemented to 2,360 metres both on time and on budget, the company focusing primarily on high margin production opportunities…

Eni Makes New Oil Find Offshore Angola

(Photo: Eni)

Italy's Eni said it ha struck a new oil discovery in the Afoxé exploration prospect located in Block 15/06, offshore Angola.The discovery, estimated to contain between 170 and 200 million barrels of light oil in place, was made in the Afoxé-1 NFW well located in the southeast area of Block 15/06, approximately 120 kilometers off the coast, 50 kilometers southwest from the Olombendo floating production…

Pan Orient Energy Announces Thailand Oil Discovery

Map: Pan Orient Energy

The oil and natural gas company Pan Orient Energy Corp announce that the L53-DD1 exploration well encountered an interpreted, combined 26 meters of net oil pay within three separate sandstone reservoirs between a true vertical depth of 960 to 1,125 meters.The Alberta based oil and gas exploration and production company with operations currently located onshore Thailand…

Tullow Reports Oil Discovery in Kenya

Photo Tullow Oil plc

Tullow Oil plc announced that the Erut-1 well in Block 13T, Northern Kenya, has discovered a gross oil interval of 55 metres with 25 metres of net oil pay at a depth of 700 metres. The overall oil column for the field is considered to be 100 to 125 metres. The objective of the well was to test a structural trap at the northern limit of the South Lokichar basin.

Austin Starts Drilling on Marco Polo #1 Well

Drilling Operations Underway on the MarcoPolo #1 well targeting oil production from the Pierre Shale Formation Photo Austin

Austin Exploration Limited (ASX: AKK) (Austin or the Company)  announced that the Math Energy Drill rig has been successfully mobilised to the Marco Polo well site and the second phase of drilling on the Marco Polo #1 well has commenced. The second phase of drilling involves drilling a deviated well bore that has been designed by Austin’s engineers…

Tullow Opdates on Norway Appraisal Well

Courtesy Tallow Well

Tullow Oil plc (Tullow) announces that the Wisting Central II long reach horizontal well (7324/7-3S) has successfully explored and appraised the Wisting South & Wisting West segments of the field including a production test in the Stø formation. The well was drilled approximately 5 kilometres south-west of the Wisting discovery well in the Barents Sea.

Chevron Hits at Anchor Appraisal

Significant discovery in the Lower Tertiary Wilcox trend

Chevron Corporation today announced the successful appraisal of the Anchor discovery in the Lower Tertiary Wilcox Trend. “The positive results of our appraisal work at Anchor indicate a significant discovery of potentially hub class scale,” said Jay Johnson, executive vice president Upstream, Chevron Corporation. The original Anchor discovery well…

Beach Energy Update on Cooper, Eromanga

A six‐well development campaign is underway in the Tirrawarra and Gooranie fields, located approximately 50 kilometres north of Moomba, targeting gas and gas liquids in the Patchawarra Formation and oil in the Tirrawarra Sandstone. The campaign is being undertaken as a result of past drilling, which highlighted significant remaining potential within both gas and oil reservoirs…

Premier Spuds Second Falklands Well

Oil and gas discovery at Zebedee, Falkland Islands. Courtesy Premier Oil

Premier reports that the Zebedee well (14/15b-5) in PL004b (Premier 36 per cent equity) discovered 81 feet of net oil-bearing reservoir and 55 feet of net gas-bearing reservoir. The well penetrated multiple targets in the Cretaceous F2 and F3 formations with a total hydrocarbon net pay of 136 feet. The Hector sand, which contains 55 feet of net gas pay. The Zebedee sand, which contains 79 feet of net oil pay.

Chevron Makes Oil Discovery in Deepwater US Gulf

Anchor is located approximately 140 miles (225 km) off the coast of Louisiana. (Image: Chevron)

Chevron Corporation announced an oil discovery at the Anchor prospect in the deepwater U.S. Gulf of Mexico. Anchor is Chevron’s second discovery in the deepwater Gulf in less than a year. “The Anchor discovery, along with the previously announced Guadalupe discovery, are significant finds for us in the deepwater Gulf of Mexico. We had one of our best years with the drill bit in 2014…

Spain's Repsol Makes Oil Find in Gulf of Mexico

Spanish oil company Repsol said on Monday it had made a "significant" discovery of high quality oil in the U.S. Gulf of Mexico. "The well found more than 150 metres of net oil pay within a column of over 400 metres," the company said in statement. The well, in which Repsol has 60 percent stake and Colombia's Ecopetrol holds the remaining 40 percent…

Chevron Finds Oil in Deepwater US Gulf of Mexico

The Guadalupe well was drilled by Transocean's Discoverer India deepwater drillship. (Photo: Business Wire)

Chevron Corporation today announced a new oil discovery at the Guadalupe prospect in the deepwater U.S. Gulf of Mexico. The Keathley Canyon Block 10 Well No. 1 encountered significant oil pay in the Lower Tertiary Wilcox Sands, Chevron said. The well is located approximately 180 miles off the Louisiana coast in 3,992 feet of water and was drilled to a depth of 30,173 feet.

Roc Oil Reports Discovery Offshore China

OIL DISCOVERY, BEIBU GULF EXPLORATION PROGRAMME, WZ12-10-1 WELL, OFFSHORE CHINA

Roc Oil (China) Company, a wholly owned subsidiary of Roc Oil Company Limited (ASX: ROC), advised drilling was completed on the first of two exploration wells in the Beibu Gulf Block 22/12. The WZ12-10-1 well has discovered oil pay in the Jiaowei (T42) formation, while no oil pay was interpreted in the Weizhou formation. The WZ12-10-1 well was drilled to a total depth of 1406m MD/1373m TVDSS…

Leni Gas & Oil Expects High Production Rates at Goudron

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Leni Gas & Oil is confident of seeing excellent production rates from its new wells on the Goudron fields. Production from four recently drilled wells will shortly begin to come online now that work is complete for the fourth and final well at then current drilling location. The GY-668 well, the fourth at this drill pad and the fifth of thirty planned for the ongoing programme.

Tullow Oil Exploration and Appraisal Update in Kenya

Tullow Oil exploration and appraisal update in Kenya

Tullow Oil plc announces the successful results from a series of exploration, appraisal and testing activities conducted in Blocks 10BB and 13T onshore Kenya. The Etom-1 well in Block 13T is the most northerly well drilled to date in the South Lokichar basin, 6.5 km north of the previous Agete-1 discovery. The well encountered approximately 10 metres of net oil pay, extending the proven oil basin significantly northwards.

LGO Raises £7 million for Trinidad Investment

Courtesy Leni Gas & Oil Plc

Leni Gas & Oil Plc (LGO) announced that the Company has raised £7 million before expenses, by way of a Company arranged placing of 200 million new ordinary shares ("the Placing Shares") at a placing price of 3.5p per share. This placing will enable the Company to accelerate the closing of the US$5 million Trinity-Inniss Oil Field transaction announced…