Petsec Energy acquires interest in Alberta Shale oil project

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..

Petroceltic to Sell Additional 18.375% interest in Algeria Gas Field

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 Acquires Winchester Oil & Gas and La Luna Oil for $30M

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 Plans $10-$12 billion worth Asset Sales in 2012

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..

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..