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Showing posts with label 2011. Show all posts
Showing posts with label 2011. Show all posts

Monday, January 23, 2012

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
Operator
Name
Country
Anadarko Petroleum
Mercury
Sierra Leone
Anadarko Petroleum
Venus B-1
Sierra Leone
Dana Petroleum
Cormoran
Mauritania
Dana Petroleum
Aigrette
Mauritania
Dana Petroleum
Pelican
Mauritania
Eni
Gye Nyame-1
Ghana
Eni
Sankofa-1A
Ghana
Eni
Sankofa-2
Ghana
Hess
Paradise-1
Ghana
Kosmos Energy
Makore 
Ghana
Kosmos Energy
Banda West
Ghana
Kosmos Energy
Teak-1
Ghana
Kosmos Energy
Akasa-1 
Ghana
Kosmos Energy
Teak-2
Ghana
Kosmos Energy
Mahogany-5
Ghana


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. 


Wednesday, June 8, 2011

Senegal - Overview of Oil and Gas Exploration and Main Players



Senegal is the westernmost country in West Africa. In the last 48 years, more than 145 hydrocarbon exploration wells have been drilled in Senegalese territory. At least 49 of these were drilled offshore, with 23 of these being located in the Casamance Offshore. The other area of interest that has been drilled is onshore in the vicinity of the Cape Vert Peninsula. The rest of the Senegal Basin outside these areas remains under-explored. An overview of exploration activity in Senegal is provided below.


Petroleum prospecting in Senegal started in the 1950s and in the 60’s and 70’s a number of small fields were discovered, but were uneconomical and not exploited. In the late 1970s, offshore exploration started again and a field of heavy crude oil of 1 billion barrels was discovered. So far only one gas field (Diam Niadio 14) has been discovered. The only hydrocarbon production in Senegal at the moment is from the Gadiaga Field, about 60km north-east of Dakar. Fortesa holds 70% in the Gadiaga Development Area, with the remaining 30% held by Petrosen, the national oil company of Senegal. 

First Australian Resources Ltd (FAR) has 3 Blocks covering 2,086 sq km in Senegal. The Rufisque, Sangomar and Sangomar Deep offshore Production Sharing Contracts (PSC) cover an area of ~ 7,490 km2 over the shelf, slope, and basin floor of the Senegalese portion of the productive Mauritania-Senegal-Guinea-Bissau Basin. 3D seismic has been acquired and multiple prospects ranging from 200 million bbl to greater than 1 billion bbl potential have been mapped and identified. FAR is looking for a partner in Senegal (up to 50% available). FAR currently operates the blocks with a 100% interest but Ophir can earn the right to acquire a 25% interest in Senegal licence areas within 60 days of drilling the Kora prospect and in this case will also be appointed as operator.

Three  Exploration and Production Sharing Contracts were signed between Oranto Petroleum Ltd, a Nigerian based company and the State of Senegal, on 3rd December 2009 for the following blocks: Cayar Offshore, Saloum and Senegal Onshore South.


 Map of Blocks in Senegal. Modified from Petrosen.

The Saint Louis Block covers the northern-most inshore section of the Senegalese offshore area and covers an area of 2,807 sq km. Energy Africa acquired the St. Louis exploration licence with Petrosen in late 2003. Tullow operates the licence with a 60 percent interest. Dana acquired a 30 percent interest from Tullow in the fourth quarter of 2004. Petrosen holds the remaining 10 percent. The operator Tullow is looking to replicate the success of its West African Cretaceous play in this block in Senegal. Although no plans have been put forward by the partners, exploration activity with drilling of a well on this block is a high possibility for 2012.

The Sebikhotane block has had many wells drilled and several seismic lines acquired including 3D covering 120 square kilometers around the Diam Niadio area since 1986. A Petroleum Sharing Agreement covering this block was signed with the Consortium Maurel & Prom – Orchard in July 2002. Maurel & Prom had planned to drill the KN-1 and BAOBAB-1 exploration wells in 2010, but it seems the drilling of these wells is on hold pending further information from the company.
The Thies block was first granted to Petrosen in 1993. With the Cooperation of PCIAC, the interpretation of different studies and surveys resulted in the identification of four prospects named respectively Gadiaga, Diender, Sebissou and Mont-Rolland. A drilling program of four exploration wells kicked off with the first well Gadiaga-2 (Gd-2) which was drilled between November 96 and January 97 at a total depth of 2180 m in Lower Senonian interval. Several interesting levels were encountered and six of them tested in the Senonian section with two levels in the Campanian giving commercial gas. A Production sharing agreement was signed in February 2001 with Fortesa Corporation, a Houston based company, for the production of the Gadiaga gas field and to continue the exploration of the Thies block. 

Thursday, April 28, 2011

Range Resources 2011 April Company Presentation

25% increase in proved developed producing (PDP) reserves - Seven Years of Double-Digit Production Growth - Since 2007, production has increased 54%, while well count has decreased 43%
http://docsearch.derrickpetroleum.com/files/12141/Range%20Resources%202011%20April%20Company%20Presentation.pdf

Thursday, March 31, 2011

Wintershall reported 2010 annual results; Natural Gas Production up 5% over 2009; Plan to further expand E&P activities in the Northern sector of North Sea and in Russia

Wintershall’s 2010 natural gas production was 14.3 bcm, 5% increase over 2009 production of 13.6 bcm. This is due to activities in Argentina and the first entire year of plateau production from the west Siberian field Yuzhno Russkoye. Crude oil and condensate production down 14% to 5.8 million tons compared to 2009 (2009: 6.8). The decrease in oil and condensate production was primarily caused by the OPEC restrictions in Libya.




To try our new free doc search tool, click here 


Expansion of successful activities in the North Sea
Overall 23 (2009: 29) exploration and appraisal wells were conducted in 2010 in the search for new crude oil and natural gas deposits. Wintershall discovered new resources with twelve of these wells (2009: 17); five in the Norwegian North Sea alone, and three in the British North Sea. The company is involved in six of the twelve biggest oil discoveries made in Norway in the past five years.



Wintershall is planning to continue the search for new reservoirs in its core regions in 2011 and to push ahead with the development of known deposits, especially in the North Sea in the coming years. The company has earmarked investments of more than 1,000 million Euros (US$1409.79 million) for this region by 2015 and is aiming for a production level of 50,000 boepd in the Norwegian and British sectors of the North Sea.


Source:Derrick Petroleum Planned Exploration Wells Database

Wednesday, March 30, 2011

Marathon Oil reported 2010 annual results; Added nine onshore exploration licenses with shale gas potential in Poland for a total of 11 licenses; Announced $5.27 billion capital, investment and exploration budget for 2011

Marathon’s annual 2010 sales volumes averaged 391,000 boepd down 2% over 2009 average of 400,000 boepd from continuing operations. This is due to the result of planned downtime associated with the turnaround of production facilities in Equatorial Guinea completed in the second quarter 2010, natural field declines and asset dispositions. The company achieved 95% reserve replacement ratio for the annual year 2010.

Marathon announced $5.267 billion capital, investment and exploration budget for 2011, consistent with prior guidance and a 9% increase from 2010 capital spending. The company aim at liquids rich opportunities such as the Bakken, Anadarko Woodford, Eagle Ford and Niobrara resource plays in the U.S.






The company’s capital spending in the upstream segments is approximately $3.7 billion or 71% of total spending for 2011. This Upstream program includes spending of $1.3 billion on base assets ($1 billion on E&P base and $300 million on Oil Sands Mining and Integrated Gas), $1.9 billion on growth assets such as liquids resource plays in the U.S., and $465 million specifically for impact exploration.




Please try our new free document search tool: www.derrick petroleum.com

Tuesday, March 29, 2011

Forest Oil reported 2010 annual results; Average liquids net sales volumes up 33% over 2009; Plan to spend 80% of 2011 capital to liquids-rich prospects

Forest's 2010 average net sales volumes up 5% to 453 mmcfpd over 2009. The company’s average oil and natural gas liquids (NGLs) net sales volumes for the year ended December 31, 2010 organically increased 33% to 18.9 MBbls/d, compared to the corresponding 2009 period, pro forma for divestitures. The company reported 2011 production guidance of 470 mmcfpd.


Forest oil plan to Spend US$600-US$650 million in 2011, of which 50% is allocated to Texas Panhandle. The company also reported to invest 80% of its total capital expenditures to liquids-rich prospects.


The company continue to allocate about 50% of our capital budget to the Granite Wash play, including testing new zones; expect organic growth focusing on high-return, liquids-rich locations during 2011 and beyond from the Texas Panhandle - Granite Wash play.


For more information on Forest Oil, visit:http://docsearch.derrickpetroleum.com/research/cmp/225/Forest%20Oil.html

Monday, March 28, 2011

Sinopec reports 2010 annual results; Natural Gas Production up 47.6% over 2009; Plan to invest RMB 54,100 million (US$ 8,300 million) for exploration and development of mature oil fields in eastern China, Tahe, Angola Block 18, and gas fields in Yuanba.


Sinopec produced 441.4 bcf of gas in 2010, up 47.6% over the 2009 gas production of 299 bcf. This is due to the start of commercial production from the Puguang gas field in Sichuan province. The capital expenditure for exploration and production segment was RMB 52,680 million (US$ 8,018 million), which was mainly used for exploration, development and capacity construction of key oilfields including Tahe, Shengli and Angola Block 18 and gas fields in Puguang and Erdos, as well as for pipeline construction of the Sichuan-to-Eastern China Gas Project

In 2011, Sinopec plans to produce 45.59 million tons of crude oil and 14.1 bcm of natural gas. The company has also estimated a set of operational targets as part of 12th five year plan, which include domestic crude production of 43.5 to 45 mt/y; gas production of 20 to 24 bcm/year.














Capital expenditure for 2011 is projected to be around RMB 124.1 billion, primarily for E&P projects, Shandong LNG project, Changling and Beihai refinery revamping and upgrading, as well the construction and upgrading of new service stations, Wuhan ethylene and Zhongyuan coal-to-olefin projects, crude and product pipeline projects and logistics system.
To know more about Sinopec Corp., visit:http://docsearch.derrickpetroleum.com/research/cmp/508/Sinopec%20Corp%20(China%20Petroleum).html

Friday, March 25, 2011

Salamander Energy reports 2010 Annual Results; Average Daily Production up 49%; Plan to achieve Production growth of 22,000-23,000 boepd

Salamander Energy’s 2010 production was 20,300 boepd up 49% over 2009. This is due to first full year of production from the Kambuna field, an increased equity interest in the Bualuang field and higher than expected production from ONWJ, where a new operator invested to increase production. The company forecasted 2011 production is expected to be between 22,000 and 23,000 boepd. Salamander achieved  reserves replacement ratio of 121%


Source: http://docsearch.derrickpetroleum.com/pageNav/view1/docId/11391-0000/Salamander_2010_Annual_Results_PPT.html

Exploration program remains active with a further 13 exploration and appraisal wells planned in 2011. The company plans to invest US$ 195 million in 2011, of which US$ 95 million for production and development activities and US$ 100 million for exploration and appraisal activities.
Source: http://docsearch.derrickpetroleum.com/pageNav/view1/docId/11391-0000/Salamander_2010_Annual_Results_PPT.html

Thursday, March 24, 2011

Melrose Resources reports 2010 Annual Results; 2010 Production in line with Market Guidance; Plan to invest 60% of 2011 Capital budget for development programs in Egypt

Melrose’s working interest production averaged 41.1 Mboepd during the year up 6% over 2009. Approximately 83% of the production was gas. Approx. 95% of the production came from Egypt, benefited from a full year contribution from five developments brought on stream in 2009.The company's 2010 production is inline with latest market guidance of 40.7 kboepd, contained in the quarterly 2010 Interim Management Statement.

The company forecasted US$112 million capital program for 2011, of which approximately 50% will be invested to high impact exploration in Egypt, Bulgaria, Romania and Turkey.
The company projected 2011 net entitlement production to be approximately 22,000 bopd, which will be supplemented by a full year's contribution from the Kaliakra and Kavarna fields in Bulgaria

Bankers Petroleum reveals 2010 annual results; Production up 49% over 2009; Plan to achieve exit production target of 20,000 bopd for 2011


Bankers Petroleum’s 2010 average production increased 49% to 9,597 bopd from 6,438 bopd in 2009. The company increased production through annual capital investment in Albania, of US$122 million, which includes the effective implementation of the Patos-Marinza development plan as well as applying EOR and secondary extraction techniques to increase the field's recoverable reserves.

Bankers Petroleum 2011 capital program budgeted at US$ 215 million and projected 2012-2014 capital programs to average $200mm/year.

As part of 2011, the company plan to drill 66 horizontal and vertical wells and complete 120 well         reactivations and work-overs at the Patos-Marinza oilfield to increase production facilities to handle our target exit production rate of 20,000 bopd


Wednesday, March 23, 2011

CNOOC reported 2010 Annual Results; Production up 44.4% over 2009; Plan to invest US $5.05 billion for Development projects in 2011

CNOOC’s 2010 net production reached 328.8 mmboe, reached 2010 production guidance of 327-329 mmboe. The production growth is mainly attributable to production from new fields brought on stream since 2009, outstanding performance of the producing fields and the production contribution from newly acquired projects. In 2010, the Company’s reserve replacement ratio amounted to 202%.

In 2010, the Company achieved 12 independent discoveries and successfully appraised 12 oil and gas structures by 18 appraisal wells in offshore China. In respect of exploration under production sharing contracts, besides the deepwater discovery of Liuhua 29-1, 3 oil and gas structures were successfully appraised by 5 appraisal wells.

CNOOC plan to invest US $8.77 billion in 2011, in which US$5.05 billion allocated for development projects.




CNOOC’s 2010 overseas acquisitions and JV’s:

The company projected 6-10% production growth for 2011-2015

Monday, March 21, 2011

Nexen reveals 2011 Corporate Strategy; Projected 7% production growth in 2011; Stick to three primary growth strategies – conventional offshore, oil sands and shale gas

Nexen prioritizes its 2011 activities that include a continued ramp up of Long Lake, completing the development of Usan discovery with first oil production in 2012, sanctioning discoveries, proceeding with the development of Horn River shale gas lands, securing a contract extension in Yemen and continuing with the implementation of the exciting global exploration program.

The company expects 2011 production volumes to range between 230–270 kboepd, before royalties and capital expenditure budget ranges between $2.4–2.7 billion.


Nexen’s diversified portfolio of exploration and production (E&P) assets provides the company with a multi-year inventory of development projects and a positive long-term production growth profile. It plans to deploy nearly 25% of total 2011 capital budget for the E&P program.


Nexen is primarily focused in the North Sea, deepwater Gulf of Mexico & offshore West Africa. The company projected 7% production growth in 2011.




Recently, Nexen initiated a process to seek a joint venture partner for various portions of the company’s northeast British Columbia shale gas acreage.


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