Oilsands Quest Receives 15-Year Leases for Axe Lake

- Oilsands Quest Receives 15-Year Leases for Axe Lake

Friday, July 15, 2011
Oilsands Quest Inc.

Oilsands Quest has received approval from the Government of Saskatchewan to convert portions of the Axe Lake permits to 15-year leases. These leases, the first oil sands leases in Saskatchewan, are one of the key elements the Company needs in place to proceed to development of a commercial oil sands production facility.

"These leases mark a key milestone in our path forward," said Garth Wong, Chief Executive Officer of Oilsands Quest. "In the past, some potential investors have expressed concern about the short term permits under which the Axe Lake lands were held. The 15-year leases will give us the certainty of land tenure we need to underpin commercial development at Axe Lake. The Government of Saskatchewan has demonstrated its commitment to oil sands exploration and development, and we appreciate its confidence that Oilsands Quest will be able to deliver on the value of these assets both for our investors and for the people of Saskatchewan."

The two leases, OSA00001 and 0SA00002 will be governed under the terms of the Petroleum and Natural Gas Regulations, 1969 and will expire on March 31, 2027.

Oil & Gas Post

Promote Your Page Too
LINK

AGR Receives Contract Extension from Statoil

- AGR Receives Contract Extension from Statoil

Thursday, July 14, 2011
AGR Group ASA

AGR Field Operations has been awarded an extension worth approximately NOK 60 million by Statoil for Inspection and Certification of non-complex lifting equipment. The services will cover Statoil's operations on the NCS, from Snøhvit in the North to Sleipner in the South.

The contract covers 30 offshore installations and 4 onshore facilities. The duration of this extension is 24 months with an option for a further 24 month period worth approximately NOK 60 million in revenue. Including the remaining option, AGR Field Operations estimates the total value to be around 120 MNOK.

Åge Landro, Executive Vice President commented, "We are very pleased with the continued trust shown in our technology and services from Statoil. We have had a successful long term partnership with Statoil across a range of products and services and view this extension as an affirmation of the value we bring to their operations. The geographical coverage and breadth of the workscope under this contract has been challenging and we feel we have managed to deliver both quality and a high standard of service to our customer."

Oil & Gas Post

Promote Your Page Too
LINK

Pacific Rubiales Receives Environmental Permit for Quifa Wells

- Pacific Rubiales Receives Environmental Permit for Quifa Wells

Tuesday, July 12, 2011
Pacific Rubiales Energy Corp.

Pacific Rubiales announced that Colombia's Ministry of the Environment recently granted the Company the requisite environmental permits for Quifa Southwest and Quifa North. The environmental permit for Quifa Southwest was granted on June 2, 2011, and the permit for Quifa North was granted on June 24, 2011 (collectively, the "Permits"). The Permits affirm that Pacific Rubiales can continue its development drilling campaign in Quifa Southwest and proceed with its exploration drilling campaign in Quifa North.

The exploration program is aimed at incorporating drilling results into an updated National Instrument 51-101 compliant reserves report. The Company's exploration program for the second half of 2011 in the Quifa North area includes 3 exploratory and 13 appraisal wells in prospects Q, F, P and Z, while in Quifa Southwest the drilling campaign includes a total of 52 wells (32 vertical and 20 horizontal).
With this drilling campaign, the Company expects to reach a gross production target of 60,000 bbl/d at Quifa Southwest and Quifa North, by the end of 2011. Details of the campaign will be provided to the market on a timely basis.

The Ministry of the Environment is currently conducting an administrative investigation in the Block. Such administrative investigations occur on a routine basis in the ordinary course of business with respect to the execution of the Company's various projects. In response to recent media reports in Colombia, the Company wishes to make clear that the current administrative investigations will not produce material consequences to the Company's current operations in the Block.

Oil & Gas Post

Promote Your Page Too
LINK

Eagle Oil Receives Initial Payment from Questus

- Eagle Oil Receives Initial Payment from Questus

Wednesday, July 06, 2011
Eagle Oil Holding Co., Inc.

Eagle Oil has received an initial payment from Questus under the Farmout Agreement between the Company and Questus.

Pursuant to the Farmout Agreement, Questus will now begin the reconditioning of an initial group of 15 oil wells at the Company's East Texas field. In addition, Questus will also service the compliance requirements of the Texas Rail Road Commission.

The Questus Agreement represents the major part of the Company's new strategy to capitalize on its oil assets through outsourcing the reconditioning of its oil well and restoring pumping operations with no additional capital investment by the Company. The Questus Agreement will potentially cover up to 120 wells. The Company is also waiting for work to commence under farmout agreements with two additional parties for up to 20 additional wells not covered under the Questus Agreement.

Oil & Gas Post

Promote Your Page Too
LINK

Blake Receives Contract in the Gulf of Mexico

- Blake Receives Contract in the Gulf of Mexico

Tuesday, June 07, 2011
Blake International USA Rigs

Blake International recently received a three-well contract for the rig Blake 1006, a 1000 horsepower self-erecting platform rig. W&T Offshore, Inc. is scheduled to commence mobilization to South Timbalier 316 in mid-July 2011. The rig is being made ready at Blake International's 44-acre yard and fabrication facility in Houma, Louisiana.

Blake International USA Rigs is a privately-held offshore drilling contractor with a fleet of nine platform rigs that work in both the Mexican and U.S. waters of the Gulf of Mexico.

Oil & Gas Post

Promote Your Page Too

Pacific Drilling Receives Latest Drillship

- Pacific Drilling Receives Latest Drillship

Thursday, June 02, 2011
Pacific Drilling S.A.

Pacific Drilling has received delivery of its newest drillship, the Pacific Mistral. The Pacific Mistral can operate in water depths of up to 12,000 feet and drill wells of up to 35,000 feet total depth. The rig features technologically advanced equipment that allows customers to improve drilling efficiency, including offline handling capabilities.

Pacific Drilling CEO Chris Beckett stated, "We are proud to announce the delivery of the Pacific Mistral. This constitutes the third on-time, on-budget delivery in Pacific Drilling's fleet of six premium ultra-deepwater drillships. The final payment to the shipyard was substantially funded by our Project Facilities Agreement lenders, consisting of two Export Credit Agencies and nine commercial banks based in the United States and Europe. We are in the advanced stages of negotiations with several major E&P companies and expect to announce a drilling contract for the Pacific Mistral in the near future."

Oil & Gas Post

Promote Your Page Too

TWMA Receives Contract Extension by Total

- TWMA Receives Contract Extension by Total

Wednesday, May 18, 2011
TWMA

TWMA has been awarded a $6.4million contract extension by Total E&P UK Limited for continued drilling-waste management services in the UK North Sea.

The UK-headquartered firm has been contracted for a further two years to process and handle drill cuttings from the Rowan Viking's first drilling campaign with Total.

The N-class newbuild drill unit will commence a two-well UK offshore drill program late-May initially for development drilling in the Elgin field, followed by the planned drilling of the Corfe prospect, south of Elgin.

The Rowan Viking jack-up is owned by Houston-based Rowan and currently operated by Total. It is one of the largest jack-up rigs operating in the North Sea.

Under the extended deal, TWMA's TCC RotoMill thermal processing technology will process and recycle cuttings alongside the firm's Cuttings Containment and Distribution System (CCDS).

The CCDS system contains large volumes of drill cuttings at the rig site, while the TCC RotoMill recycles recovered oil back into the drilling fluid. This gives operators a complete environmentally sensitive system at remote offshore locations.

Ronnie Garrick, managing director of TWMA, said, "We have a long-established relationship with Total and are very pleased that the operator has chosen to continue using our services following a successful waste management campaign on the Rowan Gorilla V.

"We look forward to working with Total over the course of this latest drilling program."

Oil & Gas Post

Promote Your Page Too

Jubilant Receives Extension in Krishna Godavari Block

Jubilant Receives Extension in Krishna Godavari Block

Wednesday, April 27, 2011
Jubilant Energy N.V.
by SubseaIQ

Jubilant announced that the Management Committee for the Krishna Godavari Block (KG-OSN-2001/3), which consists of two nominees from Government of India (Ministry of Petroleum and Natural Gas and Directorate General of Hydrocarbons) has recommended the grant of an extension to the existing contract area by 20.5 km2.

The Field Development Plan ("FDP") for Deen Dayal West area ("DDW") in Krishna Godavari block, which includes wells KG-8, KG-15, KG-17 and KG-28, was approved by Government of India in November, 2009.

The hydrocarbon plays encountered in discovery wells KG-8 and KG-15 extend towards South/South West of the original block boundary. As per the Production Sharing Contract ("PSC"), the Management Committee has recommended the enlargement of the DDW development area in this direction. The previously approved development area for DDW is 17 km2.

As disclosed in CPR at time of the Company's IPO, this extended area of 20.5 km2 will increase the existing 2P reserves and 2C resources for KG block.

Jubilant holds a 10% participating interest in this block through its subsidiary Jubilant Offshore Drilling Private Limited in India. Gujarat State Petroleum Corporation Limited, with an 80% participating interest, is the Operator for the block.

Sagres Receives Exploration Extension Offshore Jamaica

Sagres Receives Exploration Extension Offshore Jamaica

Monday, April 25, 2011
Sagres Energy Inc.

Sagres announced that the Petroleum Corporation of Jamaica (PCJ) has approved a 9 month extension of the Initial Exploration Period on Sagres' offshore blocks 9, 13, and 14. The Initial Exploration Period, Phase 1 will now end December 15, 2011, by which time Sagres must elect whether to enter Phase 2. Phase 2 of the Initial Exploration Period for each block carries a one well commitment and now must be completed by December 15, 2013.

Under Phase 1 of the Initial Exploration Period, Sagres has conducted bathymetric, geologic, seismic, and environmental surveys of blocks 9, 13, and 14, and regional geologic surveys of the adjacent Walton and Lower Walton basins, and the Island of Jamaica. Sagres has met all the work commitment under Phase 1. On August 27, 2010, Sagres announced the results of an independent evaluation of the resource potential prepared by Chapman Petroleum Engineering Ltd. ("Chapman"); "certain prospects identified in Sagres' blocks 9, 13 and 14 in the shallow-waters (20 meters) of the Pedro Bank 120 kms offshore Jamaica, show a gross mean prospective resource estimate (oil) of 3.0 billion barrels". Chapman is a qualified reserves evaluator and is independent of Sagres, each as determined in accordance with National Instrument 51-101 – Standards of Disclosure for Oil and Gas Activities. Sagres holds a 100% interest in each block and is currently seeking a partner to proceed with exploration drilling.

David Johnson, President and CEO of Sagres Energy commented that, "There is renewed interest in exploration in Jamaica, with 9 of 11 previously drilled wells having oil shows, 3 potential source rocks, a new CGG-Veritas multi-client seismic survey revealing greater than 10km of sedimentary fill in a previously unmapped deep-water Lower Walton basin, and a new deep-water lease round currently underway." The newly released blocks in the Lower Walton Basin lie immediately south and adjacent to Sagres' blocks 13 and 14. The deep-water bid round is scheduled to close September 1, 2011. David further commented that, "Jamaica is ready to commercialize its resource potential with refining capacity of 45,000 barrels of oil per day; electricity generators that accept gas, oil, or biodiesel fuels; established bauxite, shipping, and cement industries; and a geographic position central to the major global marine trade routes."

The resource estimates above are for prospective resources, which are defined as those quantities of petroleum estimated, as of a given date, to be potentially recoverable from undiscovered accumulations by application of future development projects. Prospective resources have both an associated chance of discovery and a chance of development. There is no certainty that any portion of the resources will be discovered. If discovered, there is no certainty that it will be commercially viable to produce any portion of the resources.

Sagres is continuing to pursue joint venture partners to further explore and develop its interests in the blocks. Several international energy companies have signed confidentiality agreements with Sagres in order to access the data for the blocks, and evaluate the potential for a joint venture. Sagres does not currently expect to incur any material expenditures in respect of the blocks in 2011.

AED Receives Extension for Rombebai PSC Contract

AED Receives Extension for Rombebai PSC Contract

Wednesday, April 20, 2011
AED Oil Ltd.

AED announced that AED Rombebai B.V. as 100% operator of the Rombebai Block in Papua, Indonesia has received an extension of the exploration period for its current production sharing contract (PSC) until July 15, 2013.

AED Oil Executive Chairman Mr David Dix said, "This extension is a very positive event for the Company. It provides us with increased certainty of control over an asset with outstanding commercial potential. We believe this certainty will leave us well placed to attract and negotiate with potential farm-out partners who can work with us to develop this world-class prospect."

The Rombebai prospect contains the Gesa structure, which is a world-class prospective resource where AED is targeting in excess of 7 Tcf of gas. In addition to the significant gas potential within Rombebai, we believe there is also the real possibility of a major oil find.

Rombebai has an excellent path to market with the potential to become a major liquefied natural gas development similar to the nearby BP Tangguh LNG development. AED has become increasingly optimistic about Rombebai. Our initial assessment had suggested the presence of biogenic gas only; however recent analysis of previous drilling results suggests the presence of hydrocarbons.

New seismic data and interpretation work has significantly increased the prospectivity of the Gesa structure. Recent studies suggest oil as well as thermal gas potential indicated by oil fluorescence in Gesa 1 and 2, and from oil analyzed in hydrocarbon seeps.

Our 2011 geological and geographical program will focus on reprocessing data and performing detailed AVO studies to better quantify the hydrocarbon type and distribution, as well as sampling oil seeps in the region.

AED plans to recommence farm-out discussions with interested parties, with a view to conducting drilling operations at the Kare-1 well upon obtaining the required forestry permits.

AED believes that the additional time will allow the following activities to be performed before the time at which for a Plan of Development is required to be submitted in respect of the Rombebai Block:

• Drilling and testing and evaluation on the result of the Kare-1
• Drilling further exploratory/delineation well pending results from Kare-1
• Geological and geophysical studies to confirm and certify any hydrocarbon reserves discovered
• Acquisition & processing of further seismic as required.

Key terms of the extension are as follows:

• To continue to perform drilling operations and activities as per the current 2011 approved work program in relation to drilling the exploration well Kare-1 by November 15 2011 (a condition which may be waived if AED has made significant progress in drilling preparations for this well)
• If the exploration well is a "dry well," AED Rombebai B.V. may apply to continue to explore the Rombebai Block for the remainder of the exploration period
• If within the exploration period, AED Rombebai B.V. discovers an economic hydrocarbon reserve to be developed, then AED Rombebai B.V. may submit an additional request for a maximum of a further twelve months effectively for the purpose of determining commerciality of the Block
• AED Rombebai B.V. will relinquish the Rombebai Block if economic hydrocarbons are not discovered during the exploration period
• The term of the PSC remains unchanged at 30 years.

Aminex Receives Extension for Nyuni PSA

Aminex Receives Extension for Nyuni PSA

Thursday, April 14, 2011
Aminex plc

Aminex has received a formal extension of 6 months to the Nyuni East Songo-Songo Productions Sharing Agreement (Nyuni PSA) from the Tanzanian Ministry of Energy and Minerals. This extension is to cover the likely eventuality that the Nyuni-2 well, due to be spudded in the next few weeks, will not be completed within the life of the existing Nyuni PSA which expires this year.

As announced on April 12, the Minister of Energy and Minerals has now signed a 25-year Development License for the Kiliwani North Gas Field. This license area has been carved out from the Nyuni PSA. Terms for a new and expanded PSA to replace the expiring Nyuni PSA have been negotiated and agreed and are expected to be formally concluded in due course.

Aminex chairman Brian Hall commented, "We are very grateful for the co-operation we have received from the Tanzanian authorities in facilitating completion of our current drilling program and we are looking forward to continuing activity in this interesting part of the East African coastal margin."

The Nyuni PSA is held as follows:

* Ndovu Resources Ltd. 65% (operator)
* RAK Gas Commission 25%
* Bounty Oil 5%
* Key Petroleum 5%

Murphy Receives BOEMRE Approval for GOM Drilling

Murphy Receives BOEMRE Approval for GOM Drilling

Thursday, April 07, 2011

BOEMRE

The Bureau of Ocean Energy Management, Regulation and Enforcement (BOEMRE) approved a deepwater permit for the drilling of a ninth well that complies with rigorous new safety standards implemented in the wake of the Deepwater Horizon explosion and resulting oil spill. This includes satisfying the requirement to demonstrate the capacity to contain a subsea blowout. The approved permit is a revised permit to sidetrack for Murphy Exploration & Production Company Well #A008 in Green Canyon Block 338 in 3,325 feet water depth, approximately 170 miles southwest of New Orleans, Louisiana.

"This permit allows the drilling of the ninth deepwater well since industry demonstrated that it had the capacity to handle subsea blowouts and spills," said BOEMRE Director Michael R. Bromwich. "We will continue to review and approve permits that satisfy our more rigorous safety and environmental standards and that demonstrate the necessary containment capabilities."

Murphy's Well #A008 is a sidetrack well. A sidetrack well is drilled to a new geologic target or a new location within the original target from the existing wellbore. The operator had a rig on location when drilling preparation activities were halted due to the temporary drilling suspensions imposed following the Deepwater Horizon oil spill.

As part of its approval process, the Bureau reviewed Murphy's containment capability available for the specific well proposed in the permit application. Murphy has contracted with the Helix Well Containment Group (HWCG) to use HWCG's capping stack to stop the flow of oil should a blowout occur. The capabilities of the capping stack meet the requirements that are specific to the characteristics of the proposed well.

BOEMRE has worked diligently to help industry adapt to and comply with new, rigorous safety practices. These standards ensure that oil and gas development continues, while also incorporating key lessons learned from the Deepwater Horizon oil spill. This new permit meets the new safety regulations and information requirements in Notices to Lessees N06 and N10, and the Interim Final Safety Rule.

Dominion Receives Block Extension Offshore Tanzania

Dominion Receives Block Extension Offshore Tanzania

Tuesday, April 05, 2011
Dominion Petroleum Ltd.

Dominion has been granted a 1 year extension to the Initial Exploration Period for its deepwater Block 7 by the United Republic of Tanzania's Ministry of Energy and Minerals.
The extension to the current period removes any obligation for the company to relinquish any portion of Block 7 until May of next year, providing Dominion with much more time to more fully evaluate the acreage before a mandatory 50% relinquishment at the close of the Initial Period.

Late last year, Dominion acquired a 3-D seismic survey on Block 7 and is presently processing these data in full while interpreting the "Fast Track" volume; the survey was initially focused on the Alpha prospect.

However, the "Fast Track" volume has led to the identification of numerous other prospects of similar scale to Alpha and final processing for the survey is likely to be completed in early May. The company may acquire new 2D, or additional 3D, data this year in the block to mature some of the additional leads and prospects identified since last year's competent persons report (CPR).

A competent persons report (CPR) prepared, in September 2010, by Energy Resource Consultants Ltd confirmed a mean prospective resource of 7Tcf of natural gas, or 1.1 billion barrels of oil, for the Alpha prospect alone. The 3D and recent drilling results in the area have positively impacted the prospectivity of Block 7 in a material way.

In granting the extension, the Ministry noted Dominion's good working track record in Tanzania. The additional time means that Dominion can continue to assess the whole of block, and possibly acquire more data, to better decide how to proceed toward drilling.
Andrew Cochran, Chief Executive of Dominion Petroleum, commented, "We thank the Government of Tanzania for granting us this extension. It is a validation of the technical work we have done to date and reflects the huge scale in terms of prospectivity that Block 7 represents.

"The extension of the license will allow us to better formulate plans on a drilling program for our deepwater East Africa portfolio in 2012. As the area becomes more and more competitive by the day our position becomes more and more strategic."

Statoil Receives BOEMRE's Sixth GOM Drilling Permit

Statoil Receives BOEMRE's Sixth GOM Drilling Permit

Monday, March 28, 2011
BOEMRE

by  SubseaIQ

 

The Bureau of Ocean Energy Management, Regulation and Enforcement (BOEMRE) has approved a sixth deepwater drilling permit that complies with rigorous new safety standards implemented in the wake of the Deepwater Horizon explosion and resulting oil spill.

This includes satisfying the requirement to demonstrate the capacity to contain a subsea blowout. The approved permit is a revised permit to drill a new well for Statoil Gulf of Mexico LLC's Well #1 in Alaminos Canyon Block 810 in 7,134 ft. water depth, approximately 216 miles off the Texas coastline, south of Texas City.

"This permit is the sixth we have approved since February 17, when industry demonstrated that it had the capacity to handle subsea blowouts and spills. Some say we are now proceeding too quickly; some say we are still proceeding too slowly. The truth is, we are proceeding as quickly as our resources allow to approve permit applications that satisfy our rigorous safety and environmental standards," said BOEMRE Director Michael R. Bromwich. "We will continue to do so."

Statoil's Well #1 is a new well. The operator had a rig under contract and an approved Permit to Drill a New Well when activities were suspended due to the temporary drilling suspensions imposed following the Deepwater Horizon oil spill.

As part of its approval process, the bureau reviewed Statoil's containment capability available for the specific well proposed in the permit application. Statoil has contracted with the Helix Well Containment Group to use its capping stack to stop the flow of oil should a well control event occur. The capabilities of the capping stack meet the requirements that are specific to the characteristics of the proposed well.

BOEMRE has worked diligently to help industry adapt to and comply with new, rigorous safety practices. These standards ensure that oil and gas development continues, while also incorporating key lessons learned from the Deepwater Horizon oil spill. This new permit meets the new safety regulations and information requirements in Notices to Lessees (NTL) N06 and N10, and the Interim Final Safety Rule.