Informed the market that testing had been completed at the Okoro East oil discovery, offshore south east Nigeria, results confirm a high quality 38° to 40 API oil, in excellent reservoir sands. Based on test data the Company expects future horizontal production wells at Okoro East will be capable of yielding between 4,500 to 7,000 bopd per well. The Company will drill two production wells using existing facilities in H2 2012 and up to 8 production wells, under a full field development scenario
Chariot Oil & Gas;
The Africa focused exploration company, is set to drill the first well on its Tapir South prospect offshore Namibia in early April. Chariot said that its wholly owned subsidiary, Enigma Oil & Gas, has signed a drilling rig contract with A.P. Moller Maersk A/S for a one well drilling slot using the Maersk Deliverer ultra deepwater semi-submersible rig offshore Namibia. It is currently anticipated that the rig will arrive on location at the end of March 2012 and that the drilling of the Tapir South prospect will commence shortly thereafter, with Chariot as Operator.
An oil producer with assets in two oil-rich regions of Russia, Timan-Pechora (“Exillon TP”) and West Siberia (“Exillon WS”), announced unaudited production data for the month of February 2012. Average daily production for the Group was 11,584 bbl/day. Average daily production for Exillon TP was 3,103 bbl/day, and for Exillon WS was 8,481 bbl/day during the period. Peak daily production for the Group was 12,106 bbl/day during the period. The Company expects to make the March production announcement by 15 April 2012
Released disappointing news this week. A well targeting the T-Rex & Bolan exploration prospects in the Norwegian Sea had discovered oil – but not in commercial quantities.
Has agreed to sell its interest in the Olmos production and related leases forming part of the Leighton Project in Texas, US, for US$2.8 million before tax.
Leni Gas & Oil;
Today announced progress in the A2ST01 well at the Eugene Island Field in the US Gulf of Mexico. The Ocean Columbia jack-up rig was successfully installed at the Eugene Island-184 platform on the 17 February 2012. Drilling operations commenced on the planned sidetrack of the A2 production well on 18 February. A window was successfully milled in the casing from 7,594 to 7,607 feet and the well has been drilled to a depth of 12,566 feet and is now approximately 500 feet above the anticipated reservoir. The target fault block, the Cranberry Creek prospect, has an estimated mean recoverable reserve of 0.5 million barrels of oil within the Tex-X2 target level at a depth of approximately 13,000 feet subsea. The Eugene Island-184 leases are operated by Marlin Energy LLC and LGO holds a 7.25% working interest.
Released its full year results for the year ended 31 December, 2011. Net loss for the year was $13.2 million compared to a loss of $11.6 million in 2010….Capex amounted to $16.8 million (2010: $12.4 million). While the Group ended the year with $40.5 million of unrestricted cash and cash equivalents (2010: $67.5 million) and a further $2.6 million of restricted cash (2010: $1.8 million). Madagascar remains debt free, other than trade payables and accrued expenses in the ordinary course of business, which ended the year at $5.4 million (2010: $2.8 million) Dispute over Tsimiroro resolved in June 2011, with the Government of Madagascar acknowledging the validity of the Tsimiroro production sharing contract and approving the 2011-2012 budget. Netherland, Sewell & Associates revised upwards the Best Estimate Contingent oil-in-place number for the Tsimiroro block by 75% to 1.7 billion barrels. Construction of the Tsimiroro nine pattern steam flood pilot project began in July 2011. First oil production from the Tsimiroro steam flood pilot project expected in the fourth quarter of 2012. Laurie Hunter, Chairman and Chief Executive Officer, said: “After a challenging year, we are poised to see first oil production in Madagascar in 2012. This will be an historic event in that it will represent the first sustained production in the country. We are delighted to be working with the Government to play a significant role in this potentially world class development.”
New World Oil & Gas;
Has RAISED £8.5 million by the issue of 106,250,000 new ordinary shares in the Company at a price of 8 pence per share. In addition, the Company confirms that discussions are ongoing with potential farm-in partners looking to participate in New World’s highly prospective assets that include the 420 sq km Blue Creek Project in the Petén Basin, Belize and the Danica Jutland and Danica Resources Projects, totalling 10,507 sq km in the South Permian Basin in Denmark.
Has at long completed a protracted operation to remove stuck milling assembly and coiled tubing from its Cambay-76H horizontal well. The assembly has now been recovered from the well, which lies in the Cambay Field, onshore Gujarat, India. The well is currently being prepared for resumption of milling of the seven remaining fracture stimulation stages and when this operation is completed, production tubing will be run and the well will be flowed to surface for cleanup and production testing.
The independent oil and gas company, announced that it has signed an agreement with Dyas B.V. to acquire a portfolio of Netherlands onshore assets for a total consideration of €7.5 million comprising interests in four producing gas fields and two oil fields. That now makes Parkmead a producer.
It’s been a busy week for Range today (as written by theBlog) they announced further success in the appraisal and development of the North Chapman Ranch Field in Texas (Range 20-25% interest), with the successful drilling of the Smith #2 and Albrecht #1 wells. Initial gross flow rates from the uppermost pay zone, which is one of four principal pay zones, in the Smith #2 well reached more than 3.0 MMcfd & 125 Bopd, with more than 7500 psi flowing casing pressure on a 10/64″ choke. Work is being conducted now to remove all of the plugs below the upper pay zone and combine the remaining lower pay zones to achieve maximum rate and recovery. Range also updated on wednesday re’ the Shabeel-1 well which continues drilling ahead on the Dharoor Block in Puntland, Somalia. Currently at a depth of 2,002 meters. The upper 1,600 meters of section drilled to date includes a thick section of Tertiary limestones and shales that appear to be a regional seal as no oil or gas shows were encountered above this depth. The well is currently drilling a 400 meter section composed of interbedded sandstones and shales believed to be Upper Cretaceous in age. Most of the sandstone intervals in this section have exhibited oil and gas shows confirming the existence of a working petroleum system. Determination of the quality of the reservoir and prospectivity of any potential oil bearing intervals cannot be determined until downhole electric logs and formation tests are concluded.
Announced that average daily production from its Tapia field in California reached 140 barrels of oil per day in February, up from 124 barrels in January, the company is still short of its 200 barrel+ daily target. The main cause of the missed target are two recently drilled wells, Yule #9RD and Yule #12, both producing less than 10 barrels per day. Sefton said the problem was suspected to be caused by formation damage and that it was preparing to carry out acidisation and cyclic steaming of the wells to try to improve performance. Sefton also said a field-wide cyclic steaming programme at Tapia had been restarted with up to four wells on the Hartje lease scheduled for a workover programme in the coming weeks. This is expected to boost production from this part of the field. The permit for the fourth well at Tapia has also been received and drilling is now planned for Q3 2012, in addition to the planned drilling on the Snow lease, where Sefton is investigating the use of horizontal drilling and possibly fracking.
San Leon Energy;
At long last San has spud the Szymkowo-1 well on its Szczawno Concession in the Baltic Basin, Poland. The well, operated by Talisman Energy, is designed to test the deep unconventional gas potential of the Lower Silurian, Ordovician and Upper Cambrian. This is the third well in the initial three well program in the Baltic Basin with Talisman. The Szymkowo-1 well will be the southernmost and deepest penetration of the Paleozoic section in the Baltic Basin.
Said yesterday that well operations are about to begin on the Orchid exploration prospect in UK Central North Sea Block 29/1c.
Finally announced (what we here told you several weeks back) that the Department of Energy and Climate Change has granted its approvals under the Well Operations Notification System, the Petroleum Operations Notice and the Oil Pollution Emergency Planning for the planned 9/3b-7 and 7Z wells. This now completes the approvals necessary to drill and produce the wells in Phase 1A of the Bentley field work programme.