Discoveries and Formations – Page 22

VAALCO Energy Reports First Production from SEENT Platform Offshore Gabon

July 20, 2015

VAALCO Energy (ticker: EGY), a Houston-based exploration and production company with operations in West Africa, has commenced production from its Southeast Etame/North Tchibala (SEENT) platform offshore Gabon. The Southeast Etame 2-H well returned 3,400 BOPD and is not producing any formation water or hydrogen sulfide – qualities that had existed in some previously drilled wells. VAALCO is the operator of

Oil and Gas Discoveries to Date in 2015

July 9, 2015

“If I had to do it over again I would do the same thing. I love the chase. The thrill of exploration.” –Bill Barrett, IPAMS 1993 Wildcatter of the Year, 2003 Hall of Fame Inductee Oil and gas exploration is an art, and even though the golden age of discoveries is likely in the rearview mirror, a certain appreciation will

Contango Oil & Gas Announces Oil Discovery in Wyoming

June 15, 2015

Contango Oil & Gas (ticker: MCF) announced “the discovery and successful completion” of a well located in Weston County, Wyoming, according to a company press release. The Elliott #1H well (80% working interest) is the first to be drilled by Contango in the Muddy Sandstone formation of its North Cheyenne Prospect Area. Initially intended to be a vertical well drilled

China Finds 700 Million Barrels of Tight Oil

May 27, 2015

Major tight oil discovery in China China’s state-owned China National Petroleum Corp. (CNPC) discovered more than 100 million metric tons of tight oil geological reserves in its Changqing field, according to a report by Reuters. Converted to barrels of oil, the discovery was over 733 million barrels of oil. This marks the first time that a tight oil discovery of

Shell Nearing Arctic Development – Under Watchful Eyes

May 21, 2015

Huge Expectations, Huge Investment “If you talk about 500 million barrels, I don’t think that will cut it. It must be a multi-multi-billion barrel discovery that we have there.” After investing six years and $6 billion of its development capital, Royal Dutch Shell (ticker: RDS.A) is suddenly within earshot of obtaining final approval to begin offshore exploration for oil and

Approved: Hydraulic Fracturing Allowed under Ohio River

March 30, 2015

The West Virginia Department of Commerce will allow hydraulic fracturing under the Ohio River, according to reports from local media outlets. The state had previously leased out about 474 acres of land in Marshall and Wetzel counties and retains a 20% royalty of the produced resources. Statoil (ticker: STO) has already finalized a deal with an average cost of about

CNOOC Announces ‘Mid-to-Large’ Offshore Natural Gas Find

January 7, 2015

New South Sea discovery tested to produce more than 35 MMcf/d China National Offshore Oil Corporation (CNOOC; ticker: CEO) announced yesterday a new “mid-to-large sized” natural gas discovery. The find, Lingshui 25-1, is located in the northeast of Ledong Sag in the Qiongdongnan Basin of the South Chinese Sea. The discovery well Lingshui 25-1-1 was drilled and completed at a

Chevron Announces Gulf of Mexico Find

January 7, 2015

Chevron Corporation (ticker: CVX) has announced a “significant” oil discovery at the Anchor prospect in the deepwater U.S. Gulf of Mexico. The Anchor #2 Well, which is located in Green Canyon Block 807, was drilled to a total depth of 33,749 feet and encountered pay in multiple Inboard Lower Tertiary Wilcox Sands. The well is located approximately 140 miles from

VAALCO Energy Updates Operations Offshore Africa

December 12, 2014

VAALCO Energy, Inc. is a Houston based independent energy company principally engaged in the acquisition, exploration, development and production of crude oil. VAALCO places high emphasis on international opportunities and holds acreage in Gabon, Angola and Equatorial Guinea in West Africa. A total of 2,487,000 gross acres (902,000 net) are in EGY’s portfolio, with the majority (roughly 89%) located offshore.

PetroQuest Energy Thunder Bayou La Cantera well

PetroQuest’s Thunder Bayou Well Lives Up to its Name

December 9, 2014

Thunder Bayou Production Expected to Commence Q2 2015 at 25-30 MMcfe/day gross On December 9, 2014, PetroQuest Energy (ticker: PQ) announced results from its Thunder Bayou Prospect (50% working interest and 37% net revenue interest) located in Vermilion Parish, Louisiana. The onshore well encountered 490 gross feet (202 net) of pay within the primary Cris R2 objective and casing has been set

Unit Corporation Announces Results from SOHOT Play; Rising Demand in BOSS Rig

November 6, 2014

Unit Corporation (ticker: UNT) is a diversified energy company with three business segments focused on upstream, midstream and drilling operations. The company celebrated its 50th Anniversary in 2013 and is projecting year-over-year growth of 9% to 10% in 2014, with 4% of the growth anticipated in the upcoming fourth quarter. Q3’14 Financial Results Unit reported net income of $67.5 million

Statoil Sees $200 Billion in Sales From Sverdrup Oilfield

November 3, 2014

BLOOMBERG – Statoil ASA (STL) said the Johan Sverdrup deposit will generate 1.35 trillion kroner ($200 billion) in revenue over 50 years after it starts pumping oil in 2019 as the company released an environmental impact assessment. The assessment is the first step of the development and operation plan that’s expected to be handled by parliament next year, Stavanger-based Statoil said

Premium Content