Somerton Energy to Acquire Interests in Bonaparte Basin area Permits

Somerton Energy Ltd has secured options to participate in 4 Bonaparte basin petroleum exploration tenements in the Northern Territory, Australia from Beach Energy Ltd. Under the terms of the agreement, Somerton can acquire up to 18% interest in onshore tenements EP 126 and EPA 138 and up to 8.25% interest in offshore tenements EPA 135 and NTC/P10. Continue reading here..

TAQA to acquire 50% interest in three UK North Sea licences

Abu Dhabi National Energy Company PJSC (TAQA) has signed farm-in agreements with Fairfield Energy Ltd to acquire 50% WI in the licences P184, P474 and P1634 (collectively known as the Darwin acreage), Northern North Sea. In exchange for acquiring the interest, Taqa has agreed to carry out a work programme on the blocks and make a cash payment to Fairfield. Continue reading here..

Xtract Energy Review Options for Julia Creek Oil Shale Project

Xtract Energy Plc is reviewing the commercial options available for the exploitation of its oil shale resources in Julia Creek project, Queensland, Australia to make developments attractive to potential commercial partners, as well as creating a bankable project. Continue reading here..

Quicksilver to Spin off Certain Barnett Shale Assets

Quicksilver Production Partners LP (QPP), a wholly-owned subsidiary of Quicksilver, has filed for an initial public offering (IPO) to raise upto $250 million. In connection with the IPO, Quicksilver will contribute certain of its Barnett Shale assets and related derivatives to QPP. JP Morgan and Credit Suisse are acting as lead book-running managers for the proposed offering. Continue reading here..

Majors willing to risk Iraqi contracts for Kurdistan riches?

Hussain Shahristani (Iraq’s Deputy Prime Minister for Energy) has warned Total would have to face “full consequences” if it signs oil deals with semi-autonomous Kurdistan (KRG). This warning follows Total’s statement which says that it is considering possible investments in Kurdistan. Continue reading here..

Viridas Acquired 23.7% Stake in Leed Petroleum

Viridas Plc acquired 23.7% stake in Leed Petroleum Plc from Old Church Street Holdings Limited and Lighthouse Investments Limited for £…0.47 million (US$0.73 million) on December 22, 2011. The offer price per share is £…0.0008 and the number of shares acquired by Viridas are 592.6 million. Viridas Plc also receive 166.6 million warrants to subscribe for new ordinary shares in Leed at a subscription price of 0.15 pence per share. Continue reading here..

Encana targets Tuscaloosa Shale play

The Tuscaloosa Marine shale play, which covers approximately 2.7 million acres across central Louisiana and southwest Mississippi, could emerge as the next big shale play. In west-central Louisiana, the target shale in this new play is referred to as the Louisiana Eagle Ford by some industry peers, who note that it is similar in age and lithology to the highly productive, liquids-rich Cretaceous-age Eagle Ford interval in Texas. Continue reading here..