Monday, January 23, 2012

Apache – Select Acquisitions and Divestitures 2009-2011

Apache has pursued an opportunistic acquisition strategy lapping up distressed assets from BP and with no significant divestitures. Continue reading..

Apache – The Opportunistic Acquirer

In 2009, Apache stayed away from the acquisition market and instead, built its cash position from operations and waited for the right opportunities to surface. During 2010, Apache spent more than $11 billion on acquisitions including $8.1 billion in the US, securing the second position globally after Sinopec and first position in the US. Continue reading..

Cairn Energy ropes in Statoil for exploration off Greenland

Cairn Energy, who has been unsuccessful in its hunt for hydrocarbons off Greenland, has roped in Statoil for exploration in the region. Continue reading here..

Oil & Gas Discoveries in West Africa in 2011

A study using the ‘docsearch tool’ by Derrick Petroleum Services reveals that there were 40 successful wells drilled in West Africa.

Out of these, 2 were in the Cote d’Ivoire, 2 in Sierra Leone, 7 in Mauritania, 17 in Ghana, and 1 in Guinea Bissau. 14 were exploration wells and the remaining were appraisals.

13 were operated by Kosmos, while 10 were drilled by Tullow.

A few of these discoveries are listed below
Anadarko Petroleum
Sierra Leone
Anadarko Petroleum
Venus B-1
Sierra Leone
Dana Petroleum
Dana Petroleum
Dana Petroleum
Gye Nyame-1
Kosmos Energy
Kosmos Energy
Banda West
Kosmos Energy
Kosmos Energy
Kosmos Energy
Kosmos Energy

Source: Derrick Petroleum 'DocSearch'

To get more information on exploration in West Africa use the new Derrick OIl & Gas search tool. A sample search for West Africa is provided in the link below. 

Apache doubles acreage in Anadarko Basin through $2.85B acquisition of Cordillera Energy Partners

Apache Corp has agreed to acquire Cordillera Energy Partners for $2.85 billion.  Cordillera is largely owned by private equity firm EnCap Investments LP and other institutional investors. Continue reading here..

Over a Billion Dollar worth E&P Opportunities in Middle East

As on 23-Jan-2012, there are 10 opportunities recorded in Derrick’s ‘Deals in Play’ database for the region of Middle East. Most opportunities are in Kurdistan region, Iraq (6), followed by Oman (3) and Israel (1). Continue reading here..

Shell to spend $1 billion in Nova Scotia

Shell has planned to spend around C$1 billion on deepwater oil exploration off the coast of Nova Scotia. Shell bid C$970 million for four offshore parcels more than 125 miles from Nova Scotia's coast. It's the largest amount ever spent on offshore drilling rights on Canada's east coast, and represents a gamble on an underexplored deepwater frontier for Shell.

"This particular area where the four licenses have been awarded is an underexplored area ... there hasn't been any drilling on those four parcels and there's limited data available," said Stuart Pinks, chief executive of the Canada-Nova Scotia Offshore Petroleum Board, which awarded the licenses.

The Nova Scotia government recently estimated that its offshore region potentially contains 120 trillion cubic feet of gas and 8 billion barrels of oil.

Find out more presentations on Shell:

Woodside provides production outlook for 2012

Woodside has provided with a combined production target of 73 to 81 mmboe for 2012 which will be higher that its 2011 production of 65 mmboe. The major ramp up is about to come from the Pluto project which will start in Apr 2012 and as per the company will contribute roughly 18 mmbbls during the year in addition to 58 mmboe expected to come from its currently producing projects.

For information on Woodside, use the new Oil and gas search tool:

Ophir Energy to begin 3 well drilling program in West Africa in April 2012

Ophir Energy today (23 Jan 2012) announced it has contracted the Eirik Raude Ocean rig to begin a three well drilling campaign in Equatorial Guinea. 
Ophir plans a 60 day programme beginning in April 2012 of three firm wells, plus one contingent well in its operated Block R. The wells are designed to delineate sufficient additional gas reserves and facilitate a fast-track gas development. To date, Ophir has drilled two gas discoveries in Block R. 

For more information on Ophir Energy or exploration in West Africa, use the Derrick Petroleum ‘DocSearch’ tool, an easier and faster method to view company documents. Click on the link below for a sample search on ‘West Africa’

Apache increases liquids-rich assets in Anadarko Basin with the acquisition of Cordillera Energy

Apache is back with the big acquisition of privately owned Cordillera Energy Partners for $2.85 billion. In the last two years, Apache strengthened its US position through the acquisition of Devon’s GoM Shelf assets for $1.1B, Mariner Energy for $3.9B and BP’s Permian Basin for $3.1B.

Cordillera Energy has assembled assets across Granite Wash,Tonkawa, Cleveland and Marmaton plays. Apache doubles its acreage in a highly liquids-rich fairway in the Anadarko Basin though this acquisition.

Click here for more presentations on Apache:

Statoil to partner Cairn in Greenland exploration

Cairn Energy has agreed to sell 30.6% working interest in the Pitu oil and gas exploration block off the west coast of Greenland to StatoilCairn will retain exploration operatorship, with 56.875% interest in the block, while Statoil will operate any future development. Nunaoil has an ongoing 12.5% interest in the block.

Two drilling campaigns by Cairn worth $1.2 billion in 2010 and 2011, have so far failed to yield commercial quantities of oil and gas, although the company says it has been encouraged by some hydrocarbon finds and would look to bring in partner firms to conduct further searches.

Source: Cairn Energy

To learn more about Cairn Energy's future strategies around the globe, please view its latest presentations using our new search tool:

Husky Energy’s Upstream Strategy Focused on Acquisitions

Husky Energy says acquisitions are the key part of its near term growth strategy. Husky will see production growth coming from Asia Pacific and from Oilsands in the long term but in the next 24 months, growth will be through acquisitions. Continue reading here..

Storm Resources to acquire Bellamont Exploration

Storm Resources has entered into an arrangement agreement to acquire Bellamont Exploration for $121 million. Continue reading here..

AWE acquires growth assets in Indonesia

AWE Limited has executed a Purchase Agreement with a subsidiary of Genting Berhad whereby a wholly owned subsidiary of AWE will acquire a 100% interest and operatorship of two Production Sharing Contracts offshore Indonesia, including an undeveloped oil field with an estimated 76 million barrels of recoverable oil. Continue reading here..

Shell to explore for oil offshore Nova Scotia in $970 million deal

Shell has won exploration rights for four parcels of deep-water acreage off southwest Novia Scotia. The company will spend C$970 million exploring oil and gas deposits over the next six years. It is the largest amount ever spent on offshore drilling rights on Canada’s east coast. Continue reading here..

Connacher Oil and Gas Considers Strategic Alternatives

Connacher Oil and Gas Ltd, a $1.3 billion Enterprise Value company, has engaged Goldman Sachs as its financial advisor to identify, examine and consider a range of strategic alternatives. Continue reading here..


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