Petsec Energy has signed an agreement to acquire 24.5% WI in Alberta Shale oil leases covering 17,280 acres. Petsec will have to pay 35% of the costs to drill one initial commitment well and 35% of the costs of drilling up to 3 optional wells. The initial commitment well is expected to spud before the end of Feb-2012. Continue reading here..
Wednesday, February 15, 2012
Petroceltic International Plc is looking to sell a further 18.375% stake in Ain Tsila gas field in Isarene Production Sharing Contract (Blocks 228 and 229a), Algeria. Earlier in April 2011, Petroceltic farmed out 18.375% interest in the Isarene Production Sharing Contract (Blocks 228 and 229a) to Enel Trade. Continue reading here..
GeoPark Holdings Ltd has announced the acquisition of Winchester Oil and Gas SA and La Luna Oil Company Ltd SA (collectively – Winchester Luna), privately-held exploration and production companies operating in Colombia, for $30 million in cash. The agreement also provides for certain contingent payments from production revenues as a result of successful future exploration. Continue reading here..
Chesapeake Energy Corp, the second biggest US natural-gas producer, in its 2012 financial plan report said that it is seeking to raise between $10-$12 billion through assets sales and joint ventures. The proceeds from these sales are expected to help them cope with a cash crunch amid rising debt and tumbling gas prices. Continue reading here..