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The country is looking for long-term partners as part of a farm-in application process, with U.S. companies working to attract investors.
Sanchez and private-equity company Blackstone Energy will pay in equally for 155,000 net acres in the Eagle Ford while Anadarko looks to spend in the D-J and Permian basins.
Mexico’s energy company is struggling and auctions continue to lag, particularly in unconventional areas.
At Hart Energy’s Viewpoint Executive Energy Club, Stratas Advisors directors gave industry executives a wide-ranging view and key to competing in the upcoming year.
The saved time could translate into improved efficiency amid the continuing downturn, according to an oilfield services company.
The laboratory is also the first Schlumberger laboratory outside of the U.S. to offer the company's FIS fluid inclusion stratigraphy analysis, which evaluates abundance, distribution and composition of hydrocarbon and nonhydrocarbon species trapped in inclusions in cuttings or core samples.
The first expedition discovered gas hydrate accumulations in formations that are currently unlikely to be producible.
The neoBASIN study evaluated a 6,000-square mile area in Lebanon’s onshore northern half and in the transition zone along Mediterranean coast. Only seven wells have ever been drilled in Lebanon.
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.
Tullow estimated the development phase of the project would cost $5.2 billion, of which $3 billion will be required to reach first oil production, Reuters reported.
Piracuca was declared commercial in 2009, but further studies showed the area was not commercially viable, Petrobras said in a statement sent to Reuters.
The acquired land includes wells and facilities in Raging River’s core Kerrobert and Lucky Hills producing areas in southwest Saskatchewan.
A purchase and sale agreement relating to each block must be submitted to Ecopetrol by Dec. 7 and executed by Dec. 22, Reuters reported.
The assets on offer are one shale gas block in East Kalimantan, with potential resources of 7 trillion cubic feet of gas and 21 million barrels of oil, as well as two coalbed methane blocks in South Sumatra, Reuters reported.
Chad, Kazakhstan, Oman and the United Arab Emirates are believed to have vast shale resources capable of boosting production and adding revenue. However, economics could stand in the way.
The well, which is 80 percent owned by Total and 20 percent by Denmark's state oil company Nordsofonden, confirmed the presence of gas but the thickness of the layer was smaller than expected.
Independent assessment of Horse Hill well has estimated there could be about 271 million barrels of oil per square mile. The prior estimate in April of 158 million, Bloomberg said.
Weatherford’s OmniWel in-well optical production and reservoir monitoring systems will combine with OptaSense’s DAS technology to improve reservoir management/ EUR. Technologies include DAS-VSP vertical seismic profiling, DAS-HFP hydraulic fracture monitoring.
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.
The Kronos-1 well, jointly owned with Anadarko, discovered hydrocarbons at 3,720m at the well in the Fuerte Sur Block, Reuters said. Colombia is Latin America’s fourth-biggest oil producer.
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.