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Venoco prefers Monterey vertical well economics
Venoco Inc., second largest acreage holder behind Occidental Petroleum Corp. in the California Miocene Monterey shale oil drilling play, may run six to eight rigs and drill 50-75 wells in 2012 focusing on vertical drilling and optimized completion techniques.
Share:     | Southwestern to probe Smackover Brown Dense lime
Southwestern Energy Co., Houston, said it has accumulated 460,000 net acres prospective for oil in Upper Jurassic Lower Smackover Brown Dense limestone along the Arkansas-Louisiana state line.
Share: | Cairn reports Greenland exploratory progress
Cairn Energy PLC reported that initial geochemical analysis of background gas composition indicates the encouraging presence of Pretertiary oil-prone source rocks in the basin near an exploratory well that it plans to plug and abandon on the Lady Franklin block in the South Ungavva area off southwestern Greenland.
Share: | Lawmaker to block DOI appointment until gulf leases extended
US Sen. David Vitter (R-La.) announced that he would block Rebecca Wodder’s nomination to be Assistant US Interior Secretary for Fish and Wildlife and Parks unless the US Department of the Interior extends hundreds of Gulf of Mexico leases due to expire this year.
Share: | LLOG wraps up gulf deepwater developments
LLOG Exploration Co. LLC, Covington, La., is wrapping up a multiwell Gulf of Mexico exploration and development program that has allowed it to run one deepwater rig continuously since the Macondo incident, and it has won approval of its first plan of exploration since Macondo.
Share: | Colorado: Continental sees Niobrara as matrix-driven
Continental Resources Inc., Enid, Okla., said it completed the Newton 1-4H well in Weld County, Colo., in the second quarter of 2011 at initial production results that were below expectations.
Share: | Kenya: Remote Mandera basin block awarded
Kenya’s Ministry of Energy has awarded the 7,802 sq km Block 2A in northeastern Kenya to Simba Energy Inc., Vancouver, BC.
Share: | Utah: Berry developing multiple zones in Uinta
Berry Petroleum Co., Denver, estimated that its risked resource potential in the Uinta basin is 65 million bbl of oil equivalent excluding its proved developed reserves in the basin of 11 million boe.
Share: | Australia: Georgina basin shale wildcat spuds
PetroFrontier Corp., Calgary, has spudded Baldwin-2, its first well in the southern Georgina basin of Australia’s Northern Territory to test the Basal Arthur Creek hot shale and other targets.
Share: | Russia: Western Siberia bypassed oil pay found
PetroNeft Resources PLC has discovered a sixth oil field on License 61, Tomsk Oblast, Western Siberia, Russia.
Share: | Poland: Early core results from shales encouraging
Early core analysis results from shales in the Baltic basin are “cautiously encouraging,” said BNK Petroleum Inc., Camarillo, Calif.
Share: | | | © 2011 PennWell Corporation. All Rights Reserved.
-------- Original Message -------- Untitled Document | |  | | | | | | | | | | Week of July 11 - 16, 2011 | Forward this Newsletter | 
Industry Headlines [United States] -- ConocoPhillips has approved pursuing the separation of the co's Refining & Marketing and Exploration & Production businesses into two stand-alone, publicly traded corporations. [Gulf of Mexico] -- Almost 190,000 new jobs could be created in 2013 if permitting in the GOM for offshore development returned to levels before the Obama admin.'s moratorium. [North Sea] -- On behalf of its co-venturers BP announced an agreement to progress a major redevelopment of the Schiehallion and Loyal oil fields to the west of the Shetland Islands. [United States] -- The US imported about 49% of the crude oil and refined petroleum products that were consumed during 2010, the US EIA noted in a recent brief on the issue. [United States] -- LSU Economist finds that the Administration's dual capacity and Section 199 Proposals would reduce federal tax revenue by more than $53B. Exploration [Europe & Russia] -- Halliburton has been awarded a contract from Chevron for integrated services for shale natural gas exploration in Poland. [Austral-Asia] -- Lundin has discovered gas in the Tarap-1 well that was drilled in Block SB303, offshore Sabah, East Malaysia. [United States] -- A top Shell executive said he is optimistic the company will be able to drill in Alaska next summer. [Austral-Asia] -- A significant gas flow of up to 2 MMscf/d has been achieved from Beach's Holdfast-1 exploratory shale gas well in the Cooper Basin. [Middle East] -- Lukoil and its partners have awarded a deal to a "known" service company to drill some 23 new wells at Iraq's supergiant West Qurna Phase 2. Production [North Sea] -- BP has evacuated personnel from its Valhall oil platform in the Norwegian sector of the North Sea after a fire erupted Wednesday. [United States] -- The EIA raised its forecast for natural-gas production for 2011, and said inventories are expected to come close to last year's record levels this fall. [Gulf of Mexico] -- Shell has awarded a contract to BMT Scientific Marine Services to provide a MIS to the Olympus TLP in the Mars B Development Project. [Canada] -- IMV Projects has been awarded a 2-year frame agreement by Shell to provide engineering, procurement and project management services to Shell's projects in Western Canada. [North Sea] -- Ithaca announced progress on Athena and Stella Development projects. Company Operations [West Africa] -- Pacific Drilling announced that a letter of Award has been converted to a definitive contract for the Pacific Scirocco. [United States] -- GE Energy announced that Dan Heintzelman, currently CEO of GE Energy Services, has been named CEO of GE Oil & Gas. [North Sea] -- Petrofac announced that its Offshore Engineering & Operations (OE&O) business has been awarded a contract renewal by Marathon. [Austral-Asia] -- Petrofac has signed two memoranda of understanding (MOU) with Petroliam Nasional Berhad (PETRONAS). [United States] -- Magnum Hunter announced the appointment of Mr. Mark H. Wolf as Vice President of Finance for the Company. Finance & Investing [Europe & Russia] -- The Board of Directors of Sevan Marine continues to hold constructive dialogue with bondholders and other relevant parties regarding a global restructuring of the Company's balance sheet. [Southern Asia] -- OMV successfully completed the acquisition of the entire share capital of Petronas' E&P operating entity in Pakistan from PETRONAS. [United States] -- Select Energy Services announced the acquisition of The Western Company of Texas. [Austral-Asia] -- Falcon announced that the Beetaloo Basin Evaluation and Participation Agreement between Falcon and Hess is now in effect and the seismic survey phase of the project will begin once the necessary regulatory permits are finalized. [Europe & Russia] -- Faroe provided an update on the Petoro asset swap deal. |
| O&G Prices  | | Brent Crude Oil : | $118.32/BBL
-0.39% | | Light Crude Oil : | $95.69/BBL
-2.47% | | Natural Gas : | $4.36/MMBtu
-0.92% | | Unleaded Gasoline : | $3.12/gal
-0.96% | | prices from: | 7/14/2011 | | change since: | 7/13/2011 |
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