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Thursday, March 26, 2015

Shell axes a further 250 jobs in the North Sea

Shell announced today that a further 250 jobs in the North Sea were to be terminated, and remaining staff face changes in existing shift patterns. Both staff and agency contractors are affected, and were made aware during a meeting today. Paul Goodfellow, Sh ...

Oil Prices in Saudi Arabia Hitting Stability: Will it Continue Any Further?

Saudi Arabia's oil minister is going ballistic with claims of oil prices stabilizing in the kingdom. Obviously, it hasn't stemmed out of suddenness. The air has been buzzing with reports of prices stabilizing at a figure of $60 a barrel, since December last ye ...

Crown Point provides update on Tierra del Fuego concessions

Crown Point Energy Inc. (TSX VENTURE:CWV) today provided an operational update regarding the results of its ongoing development, exploration and recompletion program at its 25.78%-owned Tierra del Fuego ('TDF') Las Violetas concession in Argentina. Crown Poin ...

Libra consortium finishes drilling second extension well

The Libra consortium has finished drilling extension well 3-BRSA-1267-RJS/3-BRSA-1267A-RJS (3-RJS-735/735A). The drilling results confirmed the presence of a hydrocarbon column approximately 200 meters deep in reservoirs with good permeability and porosity cha ...

Sterling Resources announces sale of its entire Romanian business

Sterling Resources Ltd. (TSX-V: SLG) is pleased to announce that it has entered into an agreement to sell its entire Romanian business to Carlyle International Energy Partners, an affiliate of The Carlyle Group (NASDAQ: CG). The sale includes licence blocks 13 ...

Marquee Energy announces closing of Michichi acquisition

Marquee Energy Ltd. (TSXV: 'MQL') has closed the previously announced strategic acquisition to further consolidate its core Michichi area. The Acquisition includes approximately 330 boe/d and 34 net sections of land containing Banff/Mannville rights that are c ...

Calvalley Petroleum Inc. announces shut down of Block 51 operations

Calvalley Petroleum Inc. (TSX: CVI.A) provides the following update for shareholders. The Company has received formal notice from the operator of Block 51 of their intention to suspend operations at Block 51 and to shut-down the facilities. This action is bei ...

First Titan Energy comments on Mexico's plan to attract foreign companies with favourable tax adjustments

As First Titan Corp. (OTCBB:FTTN) targets undervalued energy assets across North America for acquisition and development, Mexico is sweetening its tax terms to help attract energy companies south of the border. The Financial Times reported this month that the ...

Empire Oil & Gas signs drilling contract for up to five wells in Perth Basin

Empire Oil & Gas (ASX: EGO) is pleased to advise that it has finalised a drilling contract with WA-based drilling contractor Enerdrill, putting it on track to spud the Red Gully North well in the Perth Basin in the December quarter of this year. The contract ...

Hawkley Oil & Gas provides update on Sorochynska Well 201 production

Hawkley Oil and Gas Limited (ASX:HOG) provides the following update concerning the loss of gas production from Well 201 on the Sorochynska licence in Ukraine. In November 2014, the Sorochynska 201 well experienced a sudden significant decrease in production. ...

Getting exploration costs under control

The other day somebody asked me how I figured out what was the right level of spend on the various components of exploration costs and I reminded myself of the 'rule of thumb' that I learned somewhere in BP namely that of the total exploration spend: 50% shoul ...

Magnolia LNG project on target for first LNG in 2018

The Directors of Liquefied Natural Gas Limited (ASX: LNG; OTC ADR; LNGLY) wish to provide a general update on the development progress of its 8 million tonne per annum (mtpa) Magnolia LNG Project (MLNG Project), in Louisiana, United States of America (US). The ...

Plexus Holdings signs Framework Agreement with Yantai Jereh Oilfield Services Group

Plexus Holdings plc, the AIM quoted oil and gas engineering services business and owner of the proprietary POS-GRIP® method of wellhead engineering, is pleased to announce that it has entered into a Framework Agreement with Yantai Jereh Oilfield Services G ...

Fastnet Oil and Gas awarded new licensing option and extends existing options in its Celtic Sea portfolio

Fastnet (AIM: FAST, ESM: FOI), the UK and Irish listed E&P company focused on near-term exploration and appraisal acreage in Morocco and the Celtic Sea, is pleased to announce an update on its Celtic Sea portfolio. Highlights: Award of new operated licensing ...
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