Energy & Oil

Energy & Oil
Friday, May 29th 2015 - 09:44 UTC

Falkland Islands welcomes 'oil discovery' at the Isobel Deep exploration

”The (Isobel Deep) result potentially opens up a new development area some 30 kilometers to the south of the Sea Lion field” said Stephen Luxton.

The Falkland Islands Government welcomed Thursday's announcement by Premier Oil and partners that the 14/20-1 ‘Isobel Deep’ exploration well has been declared an “oil discovery”. Isobel Deep in the North Falkland basin, is the second well of a six-well offshore campaign planned to take place in the Islands waters through 2015.

Tuesday, May 26th 2015 - 06:38 UTC

YPF strikes oil in south Patagonia; resources estimated in 40m oil barrels

“Last year we drilled another well of similar characteristics in Los Caldenes with resources calculated in 15 million oil barrels”, said Carlos Colo

Argentina's oil and gas government managed corporation YPF announced the discovery of a new oil field in Los Caldenes, in Patagonia Rio Negro province, with resources estimated in 40 million oil barrels. Manzano Grande x-1 is the second “discoverer well” in this block of 115 square kilometers located north of the Cinco Saltos town.

Wednesday, May 20th 2015 - 05:11 UTC

Falklands' Isobel Deep well with good prospects of finding oil, say operators

Partners said an Isobel Deep sand interval was penetrated with “suspected elevated formation pressure and oil shows.” (Pic FOGL)

Premier Oil’s high-impact Falklands Isobel Deep well has hit oil shows in a suspected high pressure formation, partners Rockhopper Exploration and Falkland Oil & Gas Ltd., said Tuesday morning. But, the area will now have to be cased, delaying the drilling program.

Monday, May 18th 2015 - 05:03 UTC

Falklands' Borders & Southern releases encouraging technical update of Darwin gas/condensate discovery

B&S explorer now estimates the combined Darwin East and Darwin discovery contains 360mln barrels of recoverable gas condensate.

Borders & Southern has issued a technical update on its Darwin gas/condensate discovery south of the Falkland Islands and near-field prospectivity. The goal was to improve understanding of the Darwin reservoir interval, both within and surrounding the discovery and also its projected facies trend along the Aptian shelf

Saturday, May 16th 2015 - 08:30 UTC

Falklands' geophysical oil exploration buoy ends up in SW Australia

Little is known as to how exactly the buoy – no bigger than a standard box trailer – became detached from its anchoring or how long it spent adrift at sea.

The hull bears the scars of a 10,483 kilometre journey from the Falkland Islands in the south Atlantic, through the Southern and Indian Oceans to the shores of Esperance in southern Western Australia, according to reports in the Australian media.

Friday, May 15th 2015 - 07:32 UTC

Petrobras production from pre-salt fields reaches milestone 800.000 bpd

The 800Mbbl/d output was reached just eight years after first oil was discovered in the pre-salt layer in 2006, Petrobras said.

Brazil’s Petrobras said that oil production in Santos and Campos basin pre-salt fields reached a milestone production volume of 800Mbbl/d. The volume was recorded on April 11, with 74% (590Mbbl/d) Petrobras’ share with the remainder belonging to partner companies working in different pre-salt areas.

Friday, May 15th 2015 - 07:15 UTC

Cristina Fernandez comes out strongly in defense of minister Kicillof

On Thursday, the Clarin media group and other media outlets reproduced an article that claimed Kicillof’s salary as YPF director was 400.000 Pesos.

President Cristina Fernandez has questioned accusations against Economy Minister Axel Kicillof over his alleged YPF monthly salary of 400.000 Argentine Pesos (approx 35.000 dollars).

Friday, May 15th 2015 - 04:41 UTC

Exxon discovers oil off Guyana coast, in territory claimed by Venezuela

The discovery is located in the Stabroek Block off a border region that is claimed by Venezuela in a territorial controversy dating back over a century

Exxon Mobil Corp has discovered oil off the coast of Guyana, the company and the South American nation's government said on Thursday, potentially inflaming a long-running territorial dispute with neighboring Venezuela.

Thursday, May 14th 2015 - 08:17 UTC

Saudi Arabia continues to turn screws on U.S. Shale

Saudi Arabia has increased production by 700,000 barrels per day since the fourth quarter of 2014 in an effort maintain market share

Saudi Arabia continues to ratchet up production, taking market share away from U.S. shale producers. According to OPEC's latest monthly oil report, Saudi Arabia boosted its oil output to 10.31 million barrels per day in April, a slight increase over the previous month's total of 10.29 million barrels.

Thursday, May 14th 2015 - 00:17 UTC

Premier confirms Falklands' frontier exploration, where it continues drilling

 Premier revised its development spending up by US$ 50 million to US$ 750 million, bringing total capital expenditure for 2015 up to 970 million.

Premier Oil, currently involved in successful exploratory drilling in the Falkland Islands, produced less oil and gas in the first quarter of the year, but its output of 60,200 barrels of oil equivalent per day (boepd) was above guidance, sending its shares higher on Wednesday.

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