Lundin Petroleum Comes up Dry in Arctic
Swedish oil firm Lundin Petroleum has hit a dry well in the Norwegian Arctic, the firm said on Wednesday. "The well was dry and has been plugged and abandoned," it said in a statement. Lundin Petroleum has a 40-percent stake in the license, called PL708, Russia's Lukoil has 20 percent, Edison has 20 percent, Lime Petroleum and North Energy have 10 percent, respectively. Reporting by Gwladys Fouche
Edison Norge Drills Dry Well in North Sea off Norway
Edison Norge, a part of French EDF Group, drilled a dry well in the Haribo prospect, southwest of the Valhall field in the Norwegian sector of the North Sea, a partner in the license, Noreco, said on Monday. "The Haribo exploration well has been drilled to total depth without encountering hydrocarbons. The well will now be plugged and abandoned," it said in a statement. Edison Norge has 25 percent in the license and Noreco owns 20 percent.
Edison Norge Drills Dry Well in North Sea
Edison Norge, a part of French EDF Group, drilled a dry well in the Haribo prospect, southwest of the Valhall field in the Norwegian sector of the North Sea, a partner in the license, Noreco, said on Monday. "The Haribo exploration well has been drilled to total depth without encountering hydrocarbons. The well will now be plugged and abandoned," it said in a statement. Edison Norge has 25 percent in the license and Noreco owns 20 percent.
Tullow Oil Drills Dry Well Off Norway
British oil and gas explorer Tullow Oil drilled a dry well in the Norwegian Sea, southeast of the Heidrun field, the Norwegian Petroleum Department said, confirming earlier report by licence partner North Energy. Tullow holds 60 percent of the licence, Lime Petroleum owns 25 percent and North Energy has 15 percent. (Reporting by Nerijus Adomaitis)
Noreco, North Energy Agree Asset Transfer on PL484
Norwegian Energy Company ASA (Noreco) has agreed to transfer its 30 per cent ownership in PL484 in the Norwegian Sea to North Energy ASA (North). The transfer is subject to government approval. Further, the companies have agreed that Noreco, under certain conditions, has a right to re-enter the licence with a reduced equity share in the future. The transfer of ownership in PL484 was originally part of an asset swap deal announced in summer 2014, which also included PL616 in the North Sea.
EMGS - Vessel update for 4Q2014
Electromagnetic Geoservices ASA (EMGS) releases information on vessel activity and utilisation 4-5 working days after the close of each quarter. The Company defines "vessel utilisation" as the percentage of the vessel charter period spent on contracted or multi-client data acquisition. Vessel utilisation for the fourth quarter 2014 came in at 63% compared with 50% for the fourth quarter 2013. In the fourth quarter of 2014, the Company's vessels were allocated 39% to contract and 24% to multi-client programmes.
Statoil: Gas discovery in Pingvin
Operator Statoil has together with PL713 partners made a gas discovery in the Pingvin prospect in the Barents Sea. The discovery is a play opener in a frontier unexplored area of the Barents Sea northwest of Johan Castberg. The discovery well 7319/12-1, drilled by the drilling rig Transocean Spitsbergen, proved a 15-metre gas column in the well path. Statoil estimates the volumes in Pingvin to be in the range of 30-120 million barrels of recoverable oil equivalent.
Statoil Makes Large Barents Sea Gas Find
Norwegian oil and gas firm Statoil has found between 5 billion and 20 billion cubic metres of recoverable gas in the Arctic Barents Sea, near its Johan Castberg find, the Norwegian Petroleum Directorate said on Friday. Statoil owns 40 percent of the licence while RN Nordic Oil, North Energy and Edison each hold 20 percent. By Balazs Koranyi
Statoil Finds Gas in Arctic Norway
Norwegian energy firm Statoil has found gas in the Pingvin prospect in the Norwegian Arctic, one of its partners said on Friday. "The well has identified gas in a sandstone reservoir," North Energy said in a statement. "Updated information from the well will be provided as soon as the analyses have been completed." The partners in the production license, called PL 713, are Statoil, which has a 40-percent stake, North Energy, RN Nordic Oil and Edison each with 20 percent. Reporting by Gwladys Fouche
Statoil Resumes Drilling Norway Well with Rosneft
Norway's Statoil resumed drilling at the oil-bearing Pingvin prospect in the Barents Sea after receiving a permission from the Norwegian Environment Agency, a partner in the license, North Energy, said on Wednesday. Statoil, the operator of the license, holds 40 percent, while RN Nordic Oil, a subsidiary of Russia's Rosneft, holds 20 percent. Edison and North Energy also have 20 percent each. Drilling was postponed last week due to an appeal against its environmental permit, the junior partner said last Friday.
Environmental Challenge Halts Statoil Arctic Oil Well
Norwegian oil company Statoil has had to stop drilling at the Arctic Pingvin prospect because of an appeal against its environmental permit, North Energy, a partner in the project, said on Friday. "The top hole on Pingvin has been drilled," North Energy said in a statement. Environmental groups have challenged Statoil's plans to drill in the far north, its most ambitious Arctic exploration programme to date. The company was forced to halt work briefly at another well in May pending a review.
EMGS Reports 2Q and 1H 2014 Results
Electromagnetic Geoservices ASA's (EMGS) reported revenues of USD 42.5 million in the second quarter 2014, down from USD 61.3 million in the first quarter this year and from USD 44.4 million in the corresponding quarter last year. Contract sales totaled USD 35.5 million, while multi-client sales were at USD 7.0 million this quarter. The Company had an EBITDA of USD 10.9 million and a net loss of USD 2.5 million. Revenues for the first half year 2014 came in at USD 103.8 million…
EMGS - Settlement of the Convertible Bond Loan to North Energy
Divestment fully in line with ABB’s commitment to continuous portfolio optimization. ABB has divested five businesses with limited synergies in the past 11 months raising about $1 billion. Zurich, Switzerland, August 20, 2014– ABB, the leading power and automation technology group, announced it has signed an agreement to divest the ABB Full Service business for an undisclosed amount. The sale is expected to close in the fourth quarter of 2014, subject to regulatory approval.
Rosneft & Statoil to Explore Norwegian Continental Shelf
18th of August, Rosneft together with Norwegian company Statoil Petroleum AS started exploration operations at the Pingvin License PL713prospect in the Norwegian section of the Barents Sea. The first exploration well Pingvin-1 will be drilled by the Transocean Spitsbergen rig. The water depth is 422 meters and the drilling target total vertical depth (TVD) is 1516 meters. The companies expect to analyse the drilling results until the end of 2014.
Rex IH Gives Norway Drilling, License Updates
Rex International Holding Limited, one of the largest companies listed on the Catalist of the Singapore Exchange Securities Trading Limited, shared its latest developments in its Norway portfolio, held through its 65 percent owned indirect subsidiary, Lime Petroleum Norway AS and investee company, North Energy ASA. Måns Lidgren, Chief Executive Officer of Rex International Holding, said, “Besides growing our portfolio through farm-ins…
Tullow Oil Abandons Dry Offshore Norway Well
Oil and gas producer Tullow Oil Plc said it had plugged and abandoned a well in the Norwegian North Sea after it failed to find any hydrocarbons. The company said it did not encounter hydrocarbons in the Lupus exploration well, located 35 kilometres southeast of the Oseberg South field in the North Sea. It was the first well in production licence PL 507, Tullow said on Monday. Tullow reported a $415 million pretax write-off in net exploration in the first half of 2014 due to dry holes drilled in Mauritania…
North Energy’s New Farm-in Well is Spudded
Rex International Holding Limited shared that North Energy ASA, in which the group holds an approximate stake of 5.35 percent, had entered into an agreement with Tullow Oil Norge to acquire a 10 percent stake in PL 507 on 26 June 2014. The agreement is conditional on government approval, and upon completion, the effective date of the acquisition has been set as January 1, 2014. Exploration drilling had begun on July 1, 2014 on the Lupus oil prospect in PL 507 in the North Sea.
EMGS - Vessel Update and Activity for 2Q 2014
Electromagnetic Geoservices ASA (EMGS) releases information on vessel activity and utilisation 4-5 working days after the close of each quarter. The Company defines "vessel utilisation" as the percentage of the vessel charter period spent on contracted or multi-client data acquisition. Vessel utilisation for the second quarter 2014 came in at 75% compared with 78% for the second quarter 2013. In the second quarter this year…
EMGS - Contract for vessel BOA Thalassa
Electromagnetic Geoservices ASA (EMGS), the marine EM market leader, has received a signed contract from North Energy ASA worth NOK 10 million (USD 1.7 million) for 3D EM data acquisition in the North Sea. The survey is expected to commence early May, using the vessel BOA Thalassa. EMGS
Spike Increases Barents Sea Presence
Spike Exploration Holding AS (Spike) has recently signed an agreement with Tullow Oil Norge AS to swap a 15% interest in licence PL494/B/C for a 15% interest in PL722. PL722 is located in the Hoop area in the Barents Sea. The prospectivity of the PL722 acreage is very attractive, especially after the nearby Wisting oil discovery was made. Following data gathering in the license, there is ongoing work to mature and rank prospects. The latest date to decide to drill an exploration well is June 21, 2016.
