Top Deck Changes at Hurricane Energy
Hurricane Energy plc, the UK-based oil and gas company focused on hydrocarbon resources in naturally fractured basement reservoirs, announces that Non-executive Chairman, John Hogan, has advised the Company of his intention to step down from the Board upon completion of a three year term of office in March of this year. The Company announced that Dr Robert Arnott has agreed to join the Board as a director and non-executive Chairman. The Board changes will be effective on 1 March 2016.
Statoil Reports Another Gas Discovery
Operator Statoil has together with PL602 partners made a gas discovery in the Roald Rygg prospect in the Norwegian Sea. This is the second Statoil discovery in the Aasta Hansteen area in spring 2015. “Statoil has completed a targeted two-well exploration program around Aasta Hansteen which aimed to test additional potential in the area and make the Aasta Hansteen project more robust. Both wells, Snefrid Nord and Roald Rygg, have resulted in interesting discoveries…
Another Gas Find By Statoil in Aasta Hanstee
Operator Statoil has together with PL602 partners made a gas discovery in the Roald Rygg prospect in the Norwegian Sea. This is the second Statoil discovery in the Aasta Hansteen area in spring 2015. “Statoil has completed a targeted two-well exploration programme around Aasta Hansteen which aimed to test additional potential in the area and make the Aasta Hansteen project more robust. Both wells, Snefrid Nord and Roald Rygg, have resulted in interesting discoveries…
Rocksource Soars on Arctic Securities Bid
Norwegian brokerage Arctic Securities has been mandated by a financial investor to buy at least 20 percent of oil and gas explorer Rocksource at an 80 percent premium, Arctic said on Monday, sending the stock sharply higher. Arctic said it plans to buy 19,674,300 shares at 6.00 crowns apiece, about 80 percent above the stock's 3.34 trading price before it was halted pending the brokerage's announcement. "The purchase order will commence as of publication of this notice, and will expire on 21 October 2014 at 20:00 CET," Arctic said.
Germany's VNG Finds More Oil, Gas off Norway
German gas company VNG has discovered an oil and gas field off Norway and found that an existing oil discovery is bigger than expected, according to a partner in the finds and the Norwegian oil directorate. The Bue discovery, announced on Friday, is estimated to contain 6-25 million barrels of oil equivalent (boe), the directorate and Norwegian firm Rocksource said on Friday. The existing Pil discovery, which lies nearby, is now estimated to contain 72-171 million boe, up from an estimate of 50-170 million boe in April, they added.
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.
Oil and Gas Discovered in Four Wells
Spike Exploration has, over the last winter, participated in four exploration and appraisal wells, all of which have encountered oil and gas. The Pil discovery and surrounding prospects are the most promising, whilst the other discoveries and licenses have also added value to Spike’s portfolio. The Pil well 6406/12-3S is located in PL586 offshore Mid-Norway, where Spike holds a 30% working interest, recently encountered a gross 226m hydrocarbon…
Norway Confirms Small Arctic Oil Find
Norwegian oil explorer Det norske made a small oil discovery in the Arctic Barents Sea with a gross oil column of about 30 metres and much poorer reservoir quality than expected, the Norwegian Petroleum Directorate said on Monday. Det norske earlier said it found some oil in the prospect but initial volumes did not justify development. Det norske operates the licence and holds a 20 percent stake. Other shareholders include Sweden's Lundin Petroleum (20 percent)…
