Brinx, Partners Complete Development Oil Well in Oklahoma

- Brinx, Partners Complete Development Oil Well in Oklahoma

Wednesday, September 07, 2011
Brinx Resources Ltd.

Brinx Resources and its partners have completed a new development oil well offsetting the highly successful 2008-3-5 well in southern Oklahoma. Completion of the new 2008-3-5A oil well took place on September 1, 2011.

The 2008-3-5A well immediately started flowing after it was perforated and began producing at a rate of 298 barrels of oil per day and an unmeasured quantity of natural gas. Since completion, the well has been producing at rates between 240 and 300 barrels of oil per day along with some natural gas. Electric log analysis indicates that several additional pay zones still exist above the completed section that will be tested at a later date.

The original 2008-3-5 well began production in May of 2009. As of June 1, 2011, that well had produced over 155,000 barrels of oil and 16.5 million cubic feet of natural gas from a single pay zone. The 2008-3-5 well continues to produce at a stabilized rate of over 100 barrels of oil per day. Engineers have estimated that the upper pay zones could contain over 180,000 additional barrels of oil to be recovered from the 2008-3-5A development well.

Brinx anticipates that it will take part in several additional development well drilling opportunities in Oklahoma in the near future. Also in Oklahoma, the Company expects to participate in a minimum of ten new exploration and development drill programs based on its recently completed 130 square mile 3-D seismic program.

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ConocoPhillips Says Bohai Bay Cleanup Almost Complete

- ConocoPhillips Says Bohai Bay Cleanup Almost Complete



Aug 19, 2011

ConocoPhillips China (NYSE:COP) says the cleanup from the oil spills in China's Bohai Bay is nearly complete, with minimal impact to the environment.

The company said it "sincerely regrets" the incidents in Bohai Bay and "accepts its responsibilities.

ConocoPhillips (NYSE:COP) has a potential upside of 29.8% based on a current price of $63.79 and an average consensus analyst price target of $82.8.

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Schilling Robotics, Gregg Marine Complete Subsea Drilling Test Offshore BC

- Schilling Robotics, Gregg Marine Complete Subsea Drilling Test Offshore BC

Thursday, August 18, 2011
Schilling Robotics LLC

Schilling Robotics and Gregg Marine announced the successful completion of the field testing of their subsea drill in the waters offshore of Vancouver, British Columbia.

The Seafloor Drill was conceived by John Gregg, owner of Gregg Marine, and completed its Factory Acceptance Testing at Schilling Robotics in June 2011. The four week sea trials took place last month in St. Vincent's Bay outside of Vancouver, Canada, in water depths up to 250 meters. The sea trials allowed Gregg to work closely with Schilling technicians to fine tune the control systems and train the drill's operators. The drill testing has exceeded Gregg's expectations, as well as the clients that attended the demonstrations.

When speaking of the sea trials, John Gregg commented, "The seafloor drill system is a complex and expanded technology over the current systems in the market today. By leveraging the proven technologies by Schilling Robotics, the Seafloor Drill offers robust telemetry and controls that will maximize the efficiency and effectiveness of the system. To demonstrate our confidence, we invited our industry colleagues to the sea trials in order to see the demonstrations first hand." The drill was able to successfully retrieve core samples of both unconsolidated soft sediment as well as granitic rock. Many in attendance were impressed with the flexibility of the drill compared to other equipment on the market. One of the clients for a major US energy company remarked that "Not many companies are willing to open themselves to outsiders during such an important phase of their development program. It appears to me that the team has put a lot of thought into the design of these tools and I am certain it will pay off with many successful projects."

The system is currently being mobilized to drill near Australia where it will begin work in the coming months. "I am very thankful to Apache Oil for the Seafloor Drill's first job. Their commitment to innovation is shown in their excitement about the system," said Gregg. "We are pleased that the sea trials for the Seafloor Drill were successful," said Tyler Schilling, CEO of Schilling Robotics. "With this technology, and the Cone Penetration Testing unit, Gregg Marine is uniquely equipped for seabed sampling worldwide."

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Shoal Point to Complete Testing Program at Well 3K-39

- Shoal Point to Complete Testing Program at Well 3K-39

Tuesday, July 26, 2011
Shoal Point Energy Ltd.

Shoal Point announced that casing has now been run to a depth of 1711 meters in the 3K-39 well and is being cemented into place. Once this operation is completed (expected to be in the next few days), the current rig in use will be released and a service rig will be brought in to complete the planned testing program.

The next stage of testing, subject to applicable regulatory approvals, will include a test over the open lower carbonate-rich section of the well to the total depth of 1745 meters, from which promising hydrocarbons were encountered during drilling and logging operations. Thereafter it is planned to perforate the casing and test a series of fractured shale zones (between 1325 and 750 meters) which were identified from log analysis and core data, and which, from a series of open-hole closed chamber drill stem tests, indicate significant natural permeability. These planned tests are expected to begin in mid-August and take up to 3 weeks to complete.

At the same time, the Company is waiting for the results of the core analysis being undertaken by Ingrain Digital Rock Physics Lab in Houston, Texas. These results are expected to complement the log analysis carried out by NuTech Energy Alliance. In addition, discussions have commenced with a major petroleum consulting company to prepare an initial resource estimate and 51-101 report.

Financing

Shoal Point has also closed the second tranche of a financing of common share units for the purpose of completion and testing Well 3K-39 on EL 1070. The total amount raised from both tranches of this financing is $2,035,250.

The first tranche of the financing for $535,500 was comprised of 1,785,000 common share units at $0.30 where each unit includes a common share at $0.30 and a 1/2 common share purchase warrant where a full warrant entitles the holder to acquire an additional common share at a price of $0.40 for 18 months. The second tranche of financing for $1,499,750 included 4,285,000 flow through units where each unit is comprised of a flow through common share at $0.35 and a 1/2 common share purchase warrant where a full warrant entitles the holder to acquire an additional common share at $0.40 for 18 months.

In connection with the total financing of $2,035,250, the Company is paying cash fees totaling $122,115 to registered agents and issuing 364,200 broker warrants. Each broker warrant will entitle the holder to acquire an additional common share at a price of $0.30 for a period of 18 months.

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Keppel On Track To Complete FPSO Aseng

- Keppel On Track To Complete FPSO Aseng

Monday, July 18, 2011
Keppel Shipyard

Keppel Shipyard Ltd's (Keppel Shipyard) conversion of the FPSO Aseng is on track to complete. The FPSO will be operated by Aseng Production Company Ltd, a joint venture by SBM Offshore and Compania Nacional de Petroleo de Guinea Ecuatorial (GEPetrol), the national oil company of Equatorial Guinea.

Chartered by Noble Energy for the development of the Aseng field in offshore Equatorial Guinea, FPSO Aseng is capable of processing 80,000 barrels of oil per day and storing approximately 1.7 million barrels of oil.

HE Marcelino Owono Edu, Minister of Mines, Industry and Energy of Equatorial Guinea, witnessed the naming of the FPSO by his daughter, Señorita Doña Ayingono Owono Nchama, at Keppel Shipyard today.

Mr Tony Mace, Managing Director and CEO of SBM Offshore, commented, "We are honoured to be able to contribute to the growth of Equatorial Guinea's oil and gas industry. Through the strong teamwork between SBM and Keppel Shipyard, we add yet another quality vessel to our fleet of FPSOs."

Mr Tong Chong Heong, CEO of Keppel Offshore & Marine added, "Keppel is committed to provide value-added solutions and reliable services to our customers. With safety as our top priority, we have exercised a focused approach to ensure that the needs and expectations of FPSO Aseng's stakeholders are met. Working closely with our partners on this project, we are taking strides towards a quality delivery."

Keppel's work scope on FPSO Aseng includes refurbishment and life extension works, upgrading the accommodation facilities, installing and integrating the topsides as well as fabricating and integrating the internal turret.

Since 2000, Keppel and SBM have completed 13 FPSO/FSO conversion projects together. FPSO Aseng is the second FPSO project which Keppel Shipyard and SBM are delivering for Equatorial Guinea.

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ATA to Complete Construction at Chirag in 2013

- ATA to Complete Construction at Chirag in 2013

Friday, July 01, 2011
Knight Ridder/Tribune Business News
by E. Ismailov, Trend News Agency, Baku, Azerbaijan

The Alliance Amec-Tekfen-Azfen (ATA) will complete the construction of topside structures and drilling facilities for the new platform within the Chirag oil project to increase oil production on the block Azeri-Chirag-Guneshli in March 2013, a source on the oil and gas market said.

The source said that at present, some elements of the topsides and rig are being assembled. They are planned to be completed in the second quarter of next year. About 70 percent of the work within the wellhead platform was conducted. "According to the plan of operations, the drilling sites are planned to be installed in May next year," the source said.

The source said that it is planned to mount a rig next month. All the necessary elements will be imported from Poland.

The construction process consists of two stages. The first stage is the production of the necessary elements, and the second stage involves their installation.

ATA has engaged in construction of the topsides of one of the technological platforms. Chirag oil project envisages construction of a new platform called West Chirag. The platform will be installed at a depth of 170 meters between the already-running production platforms Chirag and Guneshli.

Chirag oil project envisages investments in the amount of $6 billion.

Outstripping drilling, under the project covered in the second half of 2010, will go on until the first half of 2012. The Dede Gorgud rig will perform the drilling, with production from the platform expected to begin late 2013.

In total, 300 million barrels of oil are expected to be produced under the ACG contract by the end of 2024.

ACG participating interests are BP with 34.43 percent, Chevron with 11.27 percent, SOCAR with 10 percent, INPEX with 10.96 percent, StatOil with 8.6 percent, Exxon with 8 percent, TPAO with 6.8 percent, Itochu with 4.3 percent and Hess with 2.72 percent.

Copyright (c) 2011, Trend News Agency, Baku, Azerbaijan

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Commissioner Seeks to Complete Rule-Making on Fracturing Bill a Year Early

- Commissioner Seeks to Complete Rule-Making on Fracturing Bill a Year Early

Friday, June 03, 2011
Rigzone Staff

Texas Railroad Commissioner (TRC) David Porter said would push the Railroad Commission (RRC) to complete the entire rule-making process requiring disclosure of chemicals used in hydraulic fracturing a year ahead of the deadline set in recent legislation.

The Texas Legislature on May 31 sent a bill to Governor Rick Perry on requiring the RRC to write disclosure rules for hazardous chemicals by July 1, 2012. The bill requires the RRC to complete rule-making for all other chemicals used in the process by July 1, 2013.

"In order for Texans to maintain confidence in the oil and gas industry, it is important for us to get this done as quickly as possible," said Porter. "Hydraulic fracturing has been an economic driver for Texas, creating hundreds of thousands of jobs and adding billions of dollars to local economies. We are currently seeing record activity in the Eagle Ford Shale due to hydraulic fracturing which is why I am creating a task force to study these very issues. We need to assure the public that hydraulic fracturing is safe and responsible – and has been for the past sixty years – and we need to do it now."

The RRC will begin the rule-making process at its next open conference this month and will hold open meetings throughout the state in coming months to garner public comment.

Porter said the agency may increase the number of members on TRC's newly formed Eagle Ford shale task force from the original plan for between 15 to 18 members due to the quality of applications. TRC is reviewing applications now and hopes to have selected all members of the voluntary task force, which will include a mix of energy industry members, local environmental groups, elected officials and landowners in the Eagle Ford shale area of South Texas, by the end of June.

TRC decided to form the Eagle Ford shale task force to head off the perception and communication problems encountered with the Barnett shale gas drilling boom hit Texas. "We're trying to be proactive, not reactive," Porter said.

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ATP Gets Go-Ahead to Complete Drilling at GOM Green Canyon Block

ATP Gets Go-Ahead to Complete Drilling at GOM Green Canyon Block

Friday, April 08, 2011

ATP O&G Corp.

ATP has received a permit to complete the previously drilled #2 well at Green Canyon (GC) Block 300 (Clipper) in the deepwater Gulf of Mexico.

"We are pleased that the BOEMRE is confident in ATP's commitment to safe and environmentally sound operations," stated T. Paul Bulmahn, ATP's Chairman and CEO. "The Gulf of Mexico is where we refined our deepwater expertise and we are looking forward to generating further production growth."

The GC 300 #2 well, located in 3,454 feet of water, was sidetracked and encountered a gas reservoir between 15,590 and 15,721 feet total vertical depth in 2006. ATP plans to commence well operations with Diamond Offshore's Ocean Victory in 2011. ATP operates GC 300 with a 55% working interest.

Shell Gets Irish License to Complete Offshore Gas Pipe -Reuters

Shell Gets Irish License to Complete Offshore Gas Pipe -Reuters

Friday, March 25, 2011
Dow Jones Newswires

Ireland on Friday granted Shell a license to complete the controversial Corrib pipeline project, which the company says could provide up to 60% of Irish demand for natural gas, Reuters reported.

The pipeline will link Ireland's northwest coast to the Corrib field offshore, which is estimated to contain 1 trillion cubic feet of gas.

The Department of the Environment, Heritage and Local Government said in a statement that it had granted a pipeline foreshore license, the last government permission needed for work to begin on the project, which has been beset by protests and delays since its discovery in 1996.

But a legal action to overturn the pipeline's planning permission being heard in the country's High Court could still cause delays.

The action is being brought by residents who fear onshore processing would bring the pipeline too close to their homes and pollute the water supply. Protests against the pipeline in the past have led to several arrests and a hunger strike.

Shell said in a statement Friday that it welcomed the government's decision. It said it has developed five wells at the field, built the offshore pipeline and is close to completing the onshore terminal.