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Energy Economist: The shifting fundamentals of commodity demand
Economic growth in emerging markets has driven energy commodity demand over the last decade, but that growth is now slowing. According to the IMF, GDP growth in emerging markets fell from 7% a year on average in 2003-2008 to 6% in 2010-13. The Fund forecasts that emerg ...
North America
Increasing oil and gas activity in Papua New Guinea drives EMC's expansion in region
Oil and Gas activity in Papua New Guinea has recently increased in the form of new liquefied natural gas (LNG) plants, exploration, land drilling and offshore production. Regional and international companies are making investments in blocks, building plants, camps and d ...
Australasia
ERHC continues to raise funds through the issuance of convertible notes
ERHC Energy Inc. (OTCBB:ERHE), a publicly traded American company with oil and gas assets in Sub-Saharan Africa, today issued an update on the Company's progress. ERHC Shareholders: ERHC is pleased to present highlights of the Company's recent progress. Repub ...
Africa
Jericho Oil to launch its Phase II development drilling program
Jericho Oil Corporation (TSX-V: JCO, Frankfurt: JLM) announces that it will commence the first stage of its Phase II development drilling program for its Kansas land package. Employing two active rigs, the first stage of Jericho's Phase II shallow drilling program ...
North America
Aztec Oil & Gas drops lawsuit against former President Waylan Johnson
Aztec Oil & Gas, Inc. (AZGS) announce that it has completely dismissed its lawsuit against former President, Waylan Johnson. President of Aztec Oil & Gas, Inc., Jeremy G. Driver, stated, "After conducting internal reviews, we find that dropping the lawsuit and end ...
North America
Zoltav Resources announces appointment of executive director
Zoltav (AIM: ZOL) announce that Alastair Ferguson, a non-executive director of the Company since 19 May 2014, has become an executive director. Mr Ferguson has an extensive background in the oil and gas industry having held both technical and senior leadership roles in ...
Russia FSU
Pacific Energy Development successfully completes drilling of Loomis 2-3H well
Pacific Energy Development (NYSE MKT: PED) announce that it has successfully completed the drilling of the Loomis 2-3H well and has spud the third well, the Loomis 2-6H. Both wells are located on the Company's Wattenberg Asset in Colorado, and are the second and th ...
North America
Madalena Energy announces appointment and grant of options to new independent directors
Madalena Energy Inc. (TSX-V: MVN) and (OTC: MDLNF) announce that Messrs. Douglas E. Brooks and Steven Sharpe, two new independent directors have joined the Madalena board of directors (the "Board"). "This is an exciting time for Madalena following our rec ...
North America
Higher Permian production, constrained infrastructure increase spread between WTI oil hubs
Source: U.S. Energy Information Administration, Thomson Reuters Increasing production of crude oil in the Permian Basin in western Texas, and parts of New Mexico, has outpaced pipeline infrastructure to move the crude to refineries, causing prices for crude in the Per ...
North America
Maersk Drilling receives one-year extension for Maersk Convincer
Petronas Carigali, the Exploration and Production subsidiary of the national oil company in Malaysia, has extended the contract for the jack-up rig Maersk Convincer by one year. Consequently, the rig will be on contract with Petronas until mid-November 2015. The estimat ...
Asia Far East
Madagascar Oil announces its half year results for the six month period ended 30 June 2014
Highlights Operational: Madagascar Oil S.A. ("Madagascar Oil SA") submitted a declaration of commerciality in respect of Block 3104 ("Declaration of Commerciality") to the Madagascar authorities on 8 May 2014, along with an appraisal report in res ...
Africa
Nido Petroleum provides an update on scheduling of Gobi-1 well
Nido Petroleum Limited (ASX: NDO) advises that the Operator of the Gurita PSC, offshore Indonesia, Lundin Gurita BV has informed the Joint Venture that the rig for the Gobi-1 well will now become available to the Joint Venture in early October 2014. On the basis of Oper ...
Asia Far East
Origin Energy announces that the Speculant-1 exploration well has spudded
Origin Energy announce that the Speculant-1 exploration well spudded at 04.00 hours EST on 23 September 2014. The well is being drilled using the rig Ensign 931. Origin will only advise the market again when well operations have been completed with a summary of results ...
Australasia
The great new oil and gas frontier of Myanmar, warts and all
Myanmar, the Southeast Asian country still called Burma by many people, is rapidly emerging from almost 50 years of military rule and related economic isolation. The country, which is slightly smaller than Texas and home to more than 50 million people of many ethniciti ...
Asia Far East
Corvina CX15-7D development oil well online
Manolo Zuniga, President and CEO of BPZ Energy (NYSE: BPZ) (BVL: BPZ) commented , "We are pleased to have brought the Corvina CX15-7D development oil well online in less than seven weeks, an improvement in our drilling efficiency. This improvement in drilling and c ...
South America
TransAtlantic Petroleum provides update on recent well results in Turkey
Southeastern Turkey - Molla Drilling Program TransAtlantic recently completed several wells in its Bahar field. Well locations were selected using 3D seismic from the Company's 872 km2 (337 mile2) seismic program in 2013-2014, which was the largest in Turkey's ...
Middle East
CGX Energy announces 3D seismic survey and strategic equity investment with prospector
CGX Energy Inc. (TSX-V - OYL) announce that it has entered into a seismic contract with Prospector PTE. Ltd. ("Prospector") to conduct a 3,116.74 km2 3D seismic survey on the Company's 100% owned Demerara Block, offshore Guyana. The contract terms are attr ...
South America
ONEOK Partners plan to invest $480 Million to $680 Million to construct new natural gas processing facilities
ONEOK Partners, L.P. (NYSE: OKS) announce plans to invest approximately$480 million to $680 million between now and the end of the third quarter 2016 to: Build a new 80-million cubic feet per day (MMcf/d) natural gas processing facility – the Bear Creek plant &n ...
North America
Blackbird Energy announces $35.5 million of financings and the appointment of a new independent Director
Blackbird Energy Inc. (TSX VENTURE:BBI) announce it has entered into an agreement with a syndicate of underwriters led by National Bank Financial Inc. and including Raymond James Ltd., Haywood Securities Inc., TD Securities Inc., Cormark Securities Inc. and Jennings Ca ...
North America
Spyglass Resources announces change to the Board of Directors
Spyglass Resources Corp. (TSX:SGL)(OTCQX:SGLRF) announces the appointment of Mr. Michael Rapps to the Board of Directors (the "Board") to replace Mr. George Armoyan, who has chosen to step down from the Board effective September 22, 2014. "We wish to than ...
North America