People & Companies - May 31, 2017¦ Australia’s Baraka Energy & Resources Ltd. announced the resignation of John Greeve as joint company secretary effective May 19. Timothy Clark will continue his role as company secretary. Greeve served 20-years as company director and company secretary for several companies in both Australia and London. He is also joint company secretary of JV Global Ltd and Cervantes Corp. Clark is also a non-executive director and joint company secretary of JV Global Ltd. ¦ CNOOC’s CEO Yang Hua...
May 31, 2017
Antrim achieves first oil at Cormorant in North SeaAntrim Energy and its partners have achieved first oil from the Cormorant East Field in UK Northern North Sea Block 211/22a Contender Area (Antrim 8.4% WI). Initial gross production is ~5,500 bopd with no water. Other partners in the block are TAQA (60% WI, operator), Dana Petroleum (E&P) Ltd. (20% WI), First Oil Expro Ltd. (7.6% WI) and Bridge Energy Enterprises Ltd. (4% WI).The Cormorant East Field was discovered by the partners in October with exploration well 211/21-N94....
Jan 14, 2013
TAQA, partners approved for Cormorant East developmentThe TAQA-led partnership said a field development plan was approved for the Cormorant East field in the UK Northern North Sea block 211/22a Contender Area.In October, TAQA drilled well 211/21-N94 (the Contender well) and penetrated a thick section of oil-bearing sandstones in the Tarbert formation of the Jurassic Brent Group, with excellent porosity and oil saturation and no water zone encountered. TAQA said the well encountered an oil accumulation expected to correspond to 10 to 30...
Nov 22, 2012
TAQA strikes oil at North Sea Contender blockUAE-based TAQA Bratani has discovered oil at the Contender block in the UK North Sea. TAQA's partner Antrim Energy said preliminary estimates indicate a net oil pay in excess of 60 ft was encountered in the Tarbert member of the Jurassic Brent sandstones. The total Brent oil column exceeded 112 ft, with no water bearing sands identified. Antrim said a further reservoir evaluation is being undertaken. If the discovery is commercial, the field will be developed under the name Cormorant East...
Oct 22, 2012
Reliance encouraged by open bond window.United Arab Emirates' state-owned Abu Dhabi National Energy Company or TAQA signed a $1.4 billion project loan to fund the expansion of its Jorf Lasfar coal power plant in Morocco. Taqa's loan is a multi-currency export credit agency-backed facility split between international and local tranches.BNP Paribas, Standard Chartered and Societe Generale were mandated as lead arrangers for three international tranches, two of which are euro denominated.Japan Bank for International Cooperation...
Jul 16, 2012
TAQA North sells 4,000 boed in SaskatchewanAbu Dhabi National Energy Co. sub TAQA North Ltd. struck a deal with an undisclosed buyer to sell oil and gas assets in SE Saskatchewan producing 4,000 boepd. No details on the purchase were given at press time. Frederic Lesage, president of Calgary-based TAQA North, said the deal is "part of the ongoing management of our rich portfolio, by which we are divesting non core and mature assets, and investing in strengthening our strategic assets. We will continue to focus our capital investments in...
Dec 22, 2011
IS - North Sea & Western Europe Briefs - January 21, 2020ConocoPhillips discovered an estimated 6-31 MMboe with its exploration well on PL917 in the Norwegian North Sea. The well was drilled 10 km northwest of Vår Energi’s Balder field and targeted formations in the Lower and Middle Jurassic and Upper Triassic. Conoco encountered 17 meters of oil- or gas-bearing reservoir across the Eiriksson, Skagerrak and Sleipner formations. The well was drilled in 126 meters of water and reached a depth of 3,225 meters. Pandion Energy completed the sale...
Jan 21, 2020
Capital Market Briefs - February 24, 2014• UK-based, Latin America-focused GeoPark Ltd. is now listed on the NYSE under the symbol GPRK, after having delisted from the AIM on February 19. Its IPO on the NYSE of 13.5 million new common shares went off at $7/share and an 800,000 share overallotment option was exercised. All such shares represent 23.5% of GeoPark's share capital. Insiders increased their stakes, with director Steven J. Quamme now beneficially owning almost 16% of the company.• OPEC-cornerstone member United Arab...
Feb 24, 2014
A&D News Briefs - May 9, 2013• Ascent Resources agreed to divest its 48.66% interest in PetroHungaria Kft to DualEx Energy International, Swede Resources and Geomega for US$585,135 in cash. Through PetroHungaria, Ascent holds interest in the Peneszlek gas field which produces gas from two wells, PEN-101 and PEN-105A. DualEx will acquire 29.56% interest in PetroHungaria from Ascent for $354,000. Post-transaction, DualEx will hold 70% stake in PetroHungaria.• Australia-listed Austin Exploration agreed to sell its 50%...
May 09, 2013
A&D News Briefs - December 12, 2012• Abu Dhabi National Energy Co. (TAQA) sold the 17.98% stake it held in WesternZagros Resources Ltd. TAQA bought 74 million common shares in WesternZagros at $0.63 per share for a total of $46.6 million in October 2011. The company sold the shares in a single block trade prior to the opening of the TSX Venture Exchange on November 30 for $85.1 million. WesternZagros holds two oil and gas production sharing contracts in the Kurdistan Region of Iraq.• Avatar Energy Ltd. entered into a...
Dec 12, 2012
A&D News Briefs - November 14, 2012• Africa Oil completed a farm-out deal with Marathon Oil. Marathon paid Africa Oil US$32 million and agreed to fund the company's interest share of future JV expenditures on blocks in Kenya up to $25 million. The assets being acquired are a 50% interest in Block 9 and a 15% interest in Block 12A. Africa Oil will maintain operatorship in Block 9, Marathon Oil has the right to assume operatorship if a commercial discovery is made.• Empire Oil and Gas has farmed out a 20% interest in its...
Nov 14, 2012
International Briefs - November 06, 2012• Africa Oil Corp. (50% WI) and partner Tullow Oil (50% WI, operator) encountered oil at their Twiga South-1 exploration well in onshore Kenya Block 13T. Drilling is ongoing and drilling results are expected in early to mid-November. The Twiga South-1 structure is the second prospect to be tested as part of the company's multi-well drilling campaign in Kenya and Ethiopia and is the first discovery in Block 13T following the Ngamia-1 discovery earlier this year in Block 10BB. That well...
Nov 06, 2012
International Briefs - July 20, 2012• Keppel Group bought 20% of Southeast Asia operator KrisEnergy for $115 million. Kris has interests in 14 licenses in Cambodia, Indonesia, Thailand and Vietnam. Its producing assets in the region hold 14.4 MMboe of proved reserves.
• MIE Holdings acquired a 51% interest in a unit of Sino Gas & Energy Holding that owns the Linxing and Sanjiaobei coalbed methane contract areas in the Ordos Basin of China's Shanxi province. MIE will pay $10 million upfront for the stake in sub Sino Gas...
Jul 20, 2012
Drilling Briefs - March 30, 2012• Altima Resources completed the drilling of the horizontal portion of the 14-15-41-11W5 well in the Chambers, Alberta, area to 12,840 ft. measured depth, extending the wellbore ~540 feet over the original targeted length. The company plans to undertake a multistage frac completion soon. Altima's mostly contiguous land base at Chambers-Ferrier totals 24 sections (15,360 gross acres) with an average WI of ~82% in 17 of the 24 sections (100% in 11 sections) and varying interests in seven...
Mar 30, 2012
What's On The Market Briefs - Jan. 13, 2012• American Energy Advisors has been retained by an undisclosed seller to help seek a partner to re-activate and continue development of an extension of a large producing oil field in Los Angeles Co., California. The seller holds 100% WI in more than 100 acres and is offering 75% WI. Production zones to be developed include the Shepard (planned pattern steamflood), Upper Kraft (planned cyclic steam project) and Lower Kraft (cyclic steam). Proved undeveloped oil reserves are 5.5 MM bbl and...
Jan 13, 2012