Energy & OilEnergy & Oil
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.
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.
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.
Falklands' Borders & Southern releases encouraging technical update of Darwin gas/condensate discovery
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
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.
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.
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).
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.
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.
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.