Wednesday, January 25, 2012

Europe/North Sea Historic transaction activity – 2011 all time high after strong second half

A few large value transactions announced in the third quarter last year lifted the value of upstream transactions in Europe during 2011 to $14.4 billion, which is 9% of the overall transaction value in 2011. Continue reading here...

Oil Blocks in West and Central Africa on Offer

ERHC Energy Inc is seeking farm-in partners for three oil blocks in the Republic of Chad and two operated EEZ blocks in Sao Tome Principe. Continue reading

New Oil Find in Area A Gulf of Suez

Kuwait Energy Plc, one of the fastest growing independent oil and gas exploration and production companies in the Middle East, announced a new oil discovery in Egypt's Ahmad-1X well, located in the Gulf of Suez's Area A concession.
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Heritage awarded further acreage in Tanzania

Heritage Oil announces that it has been awarded a further Production Sharing Agreement (PSA) in Tanzania. Heritage is the operator with 100% interest. The Kyela PSA, wholly located within Tanzanian territory, has an area of 1,934 sq kms and covers the northern onshore area of the Lake Nyasa Basin. Heritage has been awarded 100% interest and is the operator.

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Can multiple bidders increase the premium on Rockhopper?

Recent media reports have been speculating on a possible takeover or majority acquisition in Rockhopper Exploration Plc by Anadarko Petroleum. According to Sunday Times, several other Texan oil firms, including Noble Energy, Hess Corp and Murphy Oil are interested, as are British oil firms Cairn Energy and Premier. Continue reading here..

Obama for shale gas

President Barack Obama on Tuesday pledged support for the U.S. shale gas boom, but said government must focus on safe development of the energy resource.
In his State of the Union address, Obama called for government to develop a roadmap for responsible shale gas production and said his administration would move forward with 'common-sense' new rules to make sure drillers protect the public. 'America will develop this resource without putting the health and safety of our citizens at risk,' Obama said.
To view more documents on shale gas in the US and around the world use Derrick’s free oil and gas ‘DocSearch’ search tool at the link below:

Cairn drills duster after 2 successful wells in Sri Lanka

Reporting its Q3 financial results on Tuesday, Cairn India reported that Cairn Lanka successfully completed the first phase of its exploration campaign in Sri Lanka in Block SL-2007- 01-001. The exploration programme involved the acquisition, processing and interpretation of 1,753 sq km of 3D seismic data and the drilling of three well deep water wells. This resulted in two successive gas and condensate discoveries: theCLPL-Dorado- 91H/1z well and, the CLPL-Barracuda-1G/1well. The third well, CLPL-Dorado North 1- 82K/1 was plugged and abandoned as a dry hole on 14th December, 2011.

To view more documents from Cairn Energy use the free Derrick ‘DocSearch’ search tool at the link below:

Cove Energy attracts interest from Thai and Indian NOCs

PTT Exploration and Production Pcl (PTTEP) is reported to be considering to bid for Cove Energy Plc, a British oil and gas explorer, which has put itself up for sale. Continue reading..

EnQuest increases stake in Kraken discovery

EnQuest Plc has signed an agreement with Nautical Petroleum Plc to acquire 25% interest in Blocks 9/2b and 9/2c which includes the Kraken heavy oil discovery, UK North Sea. Continue reading..

Range Resources Seeks Farmin Partners for Two Georgia Blocks

Range Resources Limited is seeking farm-in partners for Blocks VIa and VIb, Republic of Georgia. Continue reading here..


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