Exclusives

Two operators describe the basin as ‘world class.’

Creating a petrophysical model with a fairly limited data set leads to success in shale plays.

Drillinginfo CEO shares how ‘integration, automation and quantification pave a black gold road to the future.’

Other barriers also must be overcome to reach commercial production, analysts say.

San Leon Energy plans to drill a horizontal well that, if successful, could lead to commercial production.

Geology & Geophysics

The geo-consulting business line of Paris-based CGG acquired Calgary, Alberta-based Taurus Reservoir Solutions Ltd. Taurus provides conventional and unconventional reservoir and geomechanical simulation, engineering technology and consulting services.

According to Reuters, the United Arab Emirates-based company did not provide a timetable or prospect for finding oil or gas in the Mediterranee Ouest area.

Bloomberg said that the company, which found gas deposits in the Red Sea in 2012, plans to more than double investment in unconventional sources of the fuel, according to its CEO.

Report estimates Scotland could have billions of barrels of shale oil.

Land & Leasing

Beach Energy Ltd. might sell Egyptian oil and gas holdings and focus on Cooper Basin, Gippsland Basin and Otway Basin acquisitions. Australian east coast gas demand drives effort, Bloomberg said.  

Garth Braun, chairman, president and CEO, said the company can now attract midstream investments for takeaway. Blackbird now has 51,840 acres in its core project.

Australia has the seventh-biggest potential shale gas resources and sixth-biggest shale oil resources, EIA said, according to Bloomberg. Chevron’s recent pullout from Nappamerri Trough signals the country’s overall shale challenges. 

The assets include 26 onshore exploration and production concessions, with average oil and gas output of 15,000 boe/d. Also included are distribution, treatment and storage infrastructure.

Bank of Nova Scotia will advise ConocoPhillips’ sale of about 20% of non-oil sands properties in Western Canada, Bloomberg said. About 35,000 barrels of oil equivalent per day is produced.

Reservoir Evaluation

Well 25/6-5 S hit a 10-m (33-ft) gas column in the Hugin Formation in Middle Jurassic reservoir rocks near the Skirne Field in the central North Sea. 

Wildcats & Stepouts

UK Oil & Gas Investments Plc found more than 8 Bbbl of shale oil in Horse Hill Field in Weald Basin. The basin is near London’s second-busiest airport, Bloomberg said. 

Chevron’s $28.5 billion upstream capital and exploratory budget for 2012 includes about $3 billion for exploration and $9 billion for LNG projects.