Exclusives

Brazil’s Presalt Oil Auction Achieved 100% Of Blocks Acquired

Brazil’s 5th presalt production sharing round, held 10 days before the country’s upcoming presidential elections which outcome is unpredictable, attracted several oil majors.

Peregrino, Brazil, offshore, Equinor, presalt, Tim Dodson

Hart Energy spoke to Tim Dodson, executive vice president of exploration for Equinor, during the recent ONS2018 conference about the growing importance of Brazil to the company’s exploration portfolio.

Kosmos Energy, Pontoenoe, Andy Inglis, Andrew Inglis, Tullow, John Christmann, Guyana oil and gas, Suriname, Exxon Mobil, Apache

The Guyana-Suriname Basin has an estimated resource potential of more than 13 billion barrels of oil, according to the U.S. Geological Survey.

An RCP/Wintershall venture examines usefulness of multicomponent data.

Argentina oil and gas, Argentina offshore licensing round, Juan Jose Aranguren, Horacio Cuenca, Vaca Muerta, shale

The country’s offshore auction is risky but offers opportunities for major oil companies, analyst says.

Land & Leasing

PPSA said the oil to be auctioned will be from the Mero area and the Lula and Sapinhoa fields.

Brazilian state-controlled oil company Petróleo Brasileiro SA (NYSE: PBR) is close to agreeing the sale of its stake in an African venture for around $1.3 billion, newspaper Valor Econômico said on July 10.

This transaction will enable Equinor and its partners to fully align interests across the two licenses for the Carcará area.

State-run Brazilian oil company Petrobras is working to sell $21 billion in assets over a two-year period to reduce its debt.

GeoPark Ltd. (NYSE: GPRK) has expanded in the Neuquen basin in Argentina with the acquisition of Los Parlamentos block in partnership with YPF SA , the company said on June 11.

Reservoir Evaluation

Echo Energy plc said May 18 it has successfully completed the drilling of the ELM-1004 exploration well at the company’s Fracción C asset, onshore Argentina and a gas discovery for the first well in its four well exploration campaign.

GeoPark Ltd. (NYSE: GPRK) has confirmed the successful drilling and testing of the Tigana Norte 4 appraisal well in the Tigana oil field in Llanos 34 Block in Colombia.

GeoPark Ltd.’s Tigana Norte 3 appraisal well has confirmed the Tigana/Jacana oil field’s extension toward the northeastern limits of Colombia’s Llanos 34 Block.

Anadarko, the operator, said the well hit 79 m to 110 m (260 ft to 360 ft) net of natural gas pay.

A test conducted with an electric submersible pump in the Guadalupe Formation across multiple sand units resulted in a production rate of about 1,800 barrels of oil per day (bbl/d) of 16 degrees API, with a 17% water cut through a choke of 38/64 mm and wellhead pressure of 80 pounds per square inch, the company said.

Wildcats & Stepouts

Echo Energy Plc said July 9 it has successfully completed the drilling of the CSo-2001(d) well in which a notable gas column has been interpreted from the wireline logging suite.

Exxon Mobil encountered about 78 m (256 ft) of high-quality, oil-bearing sandstone reservoir. The well was safely drilled to 5,504 m (18,057 ft) depth in 1,940 m (6,365 ft) of water. The Stena Carron drillship commenced drilling on May 25.

ExxonMobil encountered about 20 m (65 ft) of high-quality, oil-bearing sandstone reservoir. The well was safely drilled to 5,597 m (18,363 ft) depth in 2,067 m (6,781 ft) of water. Drilling commenced Jan. 29.

ExxonMobil affiliate Esso Exploration and Production Guyana Ltd. began drilling the Ranger-1 well on Nov. 5, 2017, and encountered about 70 m (230 ft) of high-quality, oil-bearing carbonate reservoir.

A production test conducted with an electric submersible pump in the Guadalupe Formation resulted in a production rate of about 1,700 barrels of oil per day.