ExxonMobil Looks to Sell Australian Assets
Exxon Mobil Corp said on Wednesday it was looking to sell its 50% stake in the Gippsland Basin oil and gas development in Australia's Bass Strait as part of a broader review of its global portfolio of assets.The sale could fetch up to $3 billion, however decommissioning costs for the ageing fields could dent the price tag, analysts and bankers said.The Gippsland Basin joint venture…
Repsol Says Offshore Brazil Gas Prospect Shows Strong Potential
The Brazilian unit of Spanish oil company Repsol SA said on Monday that a test of an offshore gas prospect it owns with Norwegian, Brazilian and Chinese partners confirmed the area's strong expected potential. The unit, known as Repsol Sinopec, said the Pao de Acucar prospect in the BM-C-33 offshore block produced 15 million cubic feet of natural gas and 3,330 barrels of gas condensate a day during a test…
AOC Completes Capital Raising
Australian Oil Company Limited is pleased to advise the completion of a placement to sophisticated investors eligible under S708 of the Corporations Act (2001) of 12,764,000 new fully paid ordinary shares at $0.05 per share to raise $638,200 (Placement). The funds raised will be used for working capital requirements, leasing mineral rights of additional prospects…
Philippines Suspends S.China Sea Drilling
MANILA, March 3 (Reuters) - The Philippine government has suspended all exploration work at the Reed Bank in the South China Sea "until further notice", a unit of Philex Petroleum Corp said, as the country pursues international arbitration over territorial disputes. London-listed Forum Energy Plc, which is 60.49 percent owned by Manila-listed Philex Petroleum…
Lundin Petroleum Reports Norway Zulu Gas Prospect
Swedish oil and gas firm Lundin Petroleum has made a gas discovery in an exploration well at its Norwegian Zulu prospect northeast of the giant Johan Sverdrup field in the North Sea, the firm said on Friday. "The main objective of well 26/10-1 was to test the hydrocarbon potential in the Miocene Utsira Formation sand," the firm said in a statement adding that the well is being plugged and abandoned as a gas discovery.
Lundin Petroleum Drilling off Norway
Lundin Petroleum has begun drilling an exploration well in an oil and gas prospect off Norway that could contain 89 million barrels of oil equivalent, the firm said on Thursday. Lundin has a 60-percent stake in the Storm prospect, lying in production license PL555. Its partner is Germany's Bayerngas, which holds the remaining 40 percent. Reporting by Gwladys Fouche
Serica Completes Farm Out to Centrica of East Irish Blocks
Serica Energy plc is pleased to confirm it has now completed the farm out of UK East Irish Sea Blocks 113/26b and 113/27c (Licence P.1482) with Centrica through its subsidiary Hydrocarbon Resources Limited. Under the agreement, HRL has acquired an operated 45% interest in the licence, with Serica retaining 20%,in consideration for HRL bearing Serica’s share of costs associated with the drilling of an exploration well…
Centrica Buys Stake in Irish Sea Gas Field
A subsidiary of Britain's Centrica has completed a deal to buy a 45 percent stake in the Doyle gas prospect in the East Irish Sea from oil and gas explorer Serica Energy. As part of the agreement, Centrica's Hydrocarbon Resources Limited (HRL) will cover Serica's share of exploration costs of up to 11 million pounds. HRL has also gained a 15-percent interest and the operatorship of an adjacent block licence, Serica Energy said in a statement.
Sound Oil Upgrades Recoverable Volume of the SMG
Sound Oil, the European / Mediterranean focused upstream oil and gas company, achieved a significant upgrade in the recoverable volume of the Santa Maria Goretti ("SMG") gas prospect, onshore Italy. The onshore SMG Permit sits in the Marche Region in Central Eastern Italy, covers an area of 101km2 and is owned 100% by Sound Oil. The SMG Permit area contains the southern extension of two significant producing gas fields…
Fastnet to Farm in Tendrara Lakbir
Fastnet, the UK and Irish listed E&P company focussed on near term exploration and appraisal acreage in Morocco and the Celtic Sea, announced that its wholly owned subsidiary Pathfinder Hydrocarbon Ventures Limited (Pathfinder) has entered into an amended exclusive option agreement with Oil and Gas Investments Funds (OGIF) (the "Option Agreement"), in relation…
