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360 Articles

Source: EnscoRowan

Talos Completes Zama Appraisal

By Tyler Losier, Energy Reporter, Oil & Gas 360 Third and final appraisal well drilled, FID expected by 2020 Talos Energy Inc. (stock ticker: TALO), an independent E&P headquartered in Houston, has completed its Zama appraisal program in Block 7 of Mexico’s offshore Sureste Basin. Block 7 is owned by a consortium of companies, including Sierra Oil & Gas, Wintershall[Read More…]

Vaca Muerta Basin Gets Green Light from Oil Major

Vaca Muerta Basin Gets Green Light from Oil Major

ExxonMobil to proceed with long-term development, two-phase attack in South American shale play Tuesday morning, ExxonMobil (stock ticker: XOM) announced its plans to proceed with the long-term development of its assets in the Vaca Muerta basin in Argentina’s Bajo del Choique-La Invernada block. The project is to include 90 wells, a central production facility, and export infrastructure connected to the[Read More…]

Source: Arrow Exploration

Two New Discoveries in Colombia

Arrow Exploration Corp. Arrow Exploration Corp. (stock ticker: AXL:CA), operating in Colombia via its 100% owned subsidiary Carrao Energy S.A., announced that the 11-day production test of its Rio Cravo Este-1 (RCE-1) exploration well had concluded June 9. RCE-1 is located on the Tapir block in the Llanos basin. Source: Arrow Exploration The well was originally spud on April 25[Read More…]

Strong Well Results in the Gulf: Talos Energy’s Zama-2 ST1 Appraisal Well Reinforces Zama Predictions

Strong Well Results in the Gulf: Talos Energy’s Zama-2 ST1 Appraisal Well Reinforces Zama Predictions

Well flow tested at 7,900 BOEPD, core sets Mexican offshore record with 714 feet of whole core Zama will ‘be impactful for the company and for the Mexican economy’ – Talos CEO Duncan Talos Energy Inc. (stock ticker: TALO, $TALO) reported good results for its Zama appraisal program in Block 7, located in the offshore portion of Mexico’s Sureste Basin in the Gulf[Read More…]

April 16, 2019 - 1:11 pm 360 Articles, Closing Bell Story, Discoveries, E&P, Mexico
Talos Energy’s Zama-2 Appraisal Well Logs 581 Feet of Gross TVD Oil Pay

Talos Energy’s Zama-2 Appraisal Well Logs 581 Feet of Gross TVD Oil Pay

Talos Energy Inc. (stock ticker: TALO) operator of Block 7 offshore Mexico in a consortium with its partners Sierra Oil and Gas S. de R.L. de C.V. and Premier Oil Plc reported results from its Zama-2 appraisal well, the first of three appraisal penetrations to define resource potential of the Zama discovery. Talos said the Zama-2 appraisal penetration was drilled[Read More…]

January 23, 2019 - 5:57 pm 360 Articles, Closing Bell Story, Discoveries, Mexico
Permian News: Lilis Energy Delineating Bench that is Shallower with Lower Drilling Costs 

Permian News: Lilis Energy Delineating Bench that is Shallower with Lower Drilling Costs 

Lilis’s Tiger #3H IP-24s above 1,800 BOEPD in 3rd Bone Spring Permian-focused Lilis Energy (stock ticker: LLEX) said its Tiger #3H well has reached the 24-hour initial production rate of 1,821 BOEPD. Tiger #3H – 3rd Bone Spring Highlights: IP 24 rate of 1,821 BOEPD, including 801 BOPD (63% liquids, 44% oil), on a three-stream basis, equivalent to 239 BOEPD per 1,000 ft.[Read More…]

Middle Bakken Core Extension 4-Well Pad Tests at 2,400 BOEPD

Middle Bakken Core Extension 4-Well Pad Tests at 2,400 BOEPD

Marathon Oil Corporation (stock ticker: MRO) reported that its four-well Middle Bakken pad at the Ajax area of Dunn County, North Dakota achieved an estimated average 30-day initial production (IP) rate of over 2,400 barrels of oil equivalent per day (84% oil). “Strong early results in Ajax mark another important step forward in our ongoing efforts to extend the core of[Read More…]

December 11, 2018 - 5:37 pm 360 Articles, Closing Bell Story, Discoveries, E&P
Offshore: Guyana Opportunity Could Be Transformative

Offshore: Guyana Opportunity Could Be Transformative

Exxon increases Stabroek discovered recoverable resource estimate to 4 billion BOE; sees 750 MBOEPD from it by 2025 ExxonMobil (ticker: XOM) and Hess Corporation (ticker: HES) announced today in separate news releases a significant increase in the estimate of the discovered recoverable resources for the 6.6-million-acre Stabroek Block located offshore of Guyana. The estimate of 4 BBOE is a 25% increase[Read More…]

ConocoPhillips Finds Up to a Billion Gross Barrels in Recent Alaskan Exploration

ConocoPhillips Finds Up to a Billion Gross Barrels in Recent Alaskan Exploration

COP holds 100% working interest After adding more to its Alaskan portfolio, ConocoPhillips (NYSE:COP) has stated that its total of gross discovered resource has been estimated at 0.5-1.1 BBOE, with 100% working interest and 75% of the play yet to be drilled. Looking at the Greater Willow Area the company now estimates its 2016-2018 exploration and appraisal campaign has discovered[Read More…]

July 17, 2018 - 4:59 pm 360 Articles, Closing Bell Story, Discoveries
Africa’s Largest non-OPEC Producer is on a Roll

Africa’s Largest non-OPEC Producer is on a Roll

Egypt is the largest non-OPEC oil producer in Africa and the third-largest dry natural gas producer on the continent, according to the EIA’s newest report on Egypt. In recent years, the country has seen political instability accompanied by growing power demand and a recovering energy industry. Natural gas supply shortages often cause frequent blackouts in Egypt – and 2011’s political[Read More…]

Trans-Alaska oil pipeline

A Minimum of 5.7 Billion Barrels Await Drillers at ANWR

The Arctic National Wildlife Refuge (ANWR) is located on the northern coast of Alaska, due east of both Prudhoe Bay and the National Petroleum Reserve-Alaska (NPRA). The coastal plain (the 1002 Area) covers 1.5 million acres and is about 8% of the total area of ANWR. In its latest (1998) resource assessment, the United States Geological Survey (USGS) estimated that[Read More…]

ConocoPhillips Produces 1,224 MBOEPD, Nets $0.9 Billion

ConocoPhillips Produces 1,224 MBOEPD, Nets $0.9 Billion

ConocoPhillips Company (ticker: COP) reported first quarter 2018 earnings of $0.9 billion, or $0.75 per share. This compares to first quarter 2017 earnings of $0.6 billion, or $0.47 per share. First quarter production, excluding Libya, was 1,224 MBOEPD. Production from Libya was 45 MBOEPD. Conoco said that it grew year-over-year production in the Eagle Ford, Bakken and Delaware by 20%.[Read More…]

Stena Carron - Daytime

Hess Net Q1 Production: 233 MBOEPD – Bakken 111 MBOEPD

Bakken production up 11% over Q1 2017 Hess Corporation (ticker: HES) reported a net loss of $106 million, or $(0.38) per common share in Q1 2018. This compares to a net loss of $324 million, or $(1.07) per share in Q1 2017. Oil and gas production went above the company’s guidance estimates. Net production averaged 233 MBOEPD (excluding Libya) and[Read More…]

Frontera Drums Up 70 MBOEPD in 2017, Plans 2018 Encore

Frontera Drums Up 70 MBOEPD in 2017, Plans 2018 Encore

Frontera Energy Corporation (ticker: FEC) reported a net loss of $217 million, or $(4.33) per share for 2017. In Q4 2017, the company posted a net loss of $33 million, or $(0.65) per share. The company attributed the year’s loss to impairment charges in the aggregate amount of $123 million and mark to market loss on risk management activities of[Read More…]

Canacol Energy Ltd.: Largest Caribbean Supplier of Natural Gas

Canacol Energy Ltd.: Largest Caribbean Supplier of Natural Gas

Calgary’s Canacol Energy Ltd. (ticker: CNE) recorded a net loss of USD$148 million for the year ended December 31, 2017, or $(0.48) per share – this compares to a net income of $23.6 million for the same period in 2016. For Q4 2017, the company had a net loss of $150.3 million, or $(0.85) per share – this compares to[Read More…]

Apache Discovers Over 700 feet of Net Pay in Garten Prospect – North Sea

Apache Discovers Over 700 feet of Net Pay in Garten Prospect – North Sea

Earlier today Apache Corporation (Ticker: APA) announced an oil discovery on Block 9/18a Area-W in the United Kingdom sector of the North Sea. Garten is located 6 kilometers south of the Beryl Alpha Platform. The Garten discovery well targeted a downthrown structural closure and encountered more than 700 feet of net oil pay in stacked, high quality Jurassic-aged sandstone reservoirs.[Read More…]

March 23, 2018 - 5:54 pm 360 Articles, Closing Bell Story, Discoveries, E&P, Offshore
Diamondback Energy Earns $115 Million in Q4, Earmarks $1.3 Billion-$1.5 Billion 2018 Permian Spend

Diamondback Energy Earns $115 Million in Q4, Earmarks $1.3 Billion-$1.5 Billion 2018 Permian Spend

Diamondback Energy, Inc. (ticker: FANG) pulled in a net income of $115 million in the fourth quarter of 2017, or $1.16 per diluted share. Diamondback spent $246 million on drilling, completions, non-operated properties and $61 million on infrastructure in the fourth quarter of 2017. For the full year 2017, Diamondback spent $737 million on drilling, completions, non-operated properties and $124[Read More…]

February 14, 2018 - 5:21 pm 360 Articles, Closing Bell Story, Discoveries, E&P, Earnings, Fracing
Denbury Resources Plans $300 Million 2018 CapEx

Denbury Resources Plans $300 Million 2018 CapEx

Denbury Resources Inc. (ticker: DNR) released its preliminary year-end 2017 proved reserves, production and capital expenditures, along with its 2018 capital budget and estimated annual production. Preliminary Q4 2017/annual production Denbury’s production averaged 61,144 BOEPD (97% oil) during the fourth quarter of 2017, with CO2 tertiary properties accounting for 65% of overall production. Denbury’s continuing production for full-year 2017 averaged[Read More…]

February 13, 2018 - 5:28 pm 360 Articles, Closing Bell Story, Discoveries, E&P, Fracing
ExxonMobil Stacks 2.7 Billion More Barrels into Reserves, Bringing 2017 Total to 21.2 Billion Barrels

ExxonMobil Stacks 2.7 Billion More Barrels into Reserves, Bringing 2017 Total to 21.2 Billion Barrels

Exxon Mobil Corporation (ticker: XOM) added 2.7 billion oil-equivalent barrels of proved oil and gas reserves in 2017, replacing 183% of 2017 production. ExxonMobil’s proved reserves totaled 21.2 billion oil-equivalent barrels at year-end 2017. Liquids represented 57% of the reserves, up from 53% in 2016. According to the company, ExxonMobil’s reserves life at current production rates is 14 years. During[Read More…]

February 8, 2018 - 3:39 pm 360 Articles, Closing Bell Story, Discoveries, E&P, Fracing, International
Erin Energy Discovers Multiple Stacked Sands at Oyo-NW Well Offshore Nigeria

Erin Energy Discovers Multiple Stacked Sands at Oyo-NW Well Offshore Nigeria

Houston-based Erin Energy Corporation (ticker: ERN) completed the drilling of the Oyo-NW well, concluding it has discovered hydrocarbons in the Miocene formation. The well is located approximately 9.5 kilometers northwest of the Oyo Central field on the company’s offshore Nigeria block 120. The Miocene formation is where several of Erin Energy’s neighbors have discovered billions of barrels of hydrocarbons and from which several[Read More…]

GeoPark Discovers New Gas Play in Chile

GeoPark Discovers New Gas Play in Chile

GeoPark Limited (ticker: GPRK) said that in Chile the Uaken 1 exploration well in the Fell block was successfully drilled and tested. The well is operated by GeoPark and the company has 100% working interest. GeoPark drilled and completed the Uaken 1 exploration well to a total depth of 3,658 feet. A production test through different chokes in the El[Read More…]

January 18, 2018 - 2:00 pm 360 Articles, Closing Bell Story, Discoveries, E&P, International
Source: Hess

Exxon Mobil Makes Sixth Oil Discovery Offshore Guyana

Exxon Mobil Corporation (ticker: XOM) has discovered its sixth oil reservoir in offshore Guyana since 2015, resulting from the Ranger-1 exploration well. The Ranger-1 well discovery adds to previous world-class discoveries at Liza, Payara, Snoek, Liza Deep and Turbot, which are estimated to total more than 3.2 billion recoverable oil-equivalent barrels, according to Exxon. Exxon said that additional exploration drilling is[Read More…]

ExxonMobil Makes Fifth Discovery Offshore Guyana

ExxonMobil Makes Fifth Discovery Offshore Guyana

Turbo-1 encounters a reservoir of 75 feet of high-quality, oil-bearing sandstone approximately 30 miles from Liza phase one Exxon Mobil Corporation (ticker: XOM) said it has made a fifth new oil discovery after drilling the Turbot-1 well offshore Guyana. Turbot joins a string of discoveries for XOM in Guyana including Liza, Payara, Snoek and Liza Deep. Exxon said that following completion[Read More…]

October 5, 2017 - 12:14 pm 360 Articles, Closing Bell Story, Discoveries, E&P, Offshore
Exclusive Video Interview with Erin Energy Chairman Frank Ingriselli

Exclusive Video Interview with Erin Energy Chairman Frank Ingriselli

Erin Energy: Oyo-9 to double company’s production by the end of 2017; subsequent exploration wells have potential to unlock a one billion barrel reserve opportunity At its recent 2017 The Oil & Gas Conference®, EnerCom’s Oil & Gas 360® conducted an exclusive video interview with Erin Energy (ticker: ERN) Chairman Frank Ingriselli. Erin Energy has acquired a strategic portfolio of[Read More…]

A Significant Gas Discovery in New Mexico’s San Juan Basin

A Significant Gas Discovery in New Mexico’s San Juan Basin

IP 30 of 12.9 MMcf/d from Mancos shale – highest in 14 years: BP BP (ticker: BP) announced a discovery in New Mexico today, with strong results from a natural gas well in the Mancos Shale in the San Juan Basin. The NEBU 602 Com 1H well targets the Mancos Shale with a 10,000’ lateral in San Juan County, New[Read More…]

Exxon Discovers More Oil at Offshore Guyana Block

Exxon Discovers More Oil at Offshore Guyana Block

In its Payara reservoir, offshore of Guyana, ExxonMobil Corp. (ticker: XOM) discovered an additional accumulation of oil. The discovery increased ExxonMobil’s estimated oil in the Payara reservoir to 500 MMBOE, and the total estimated gross recoverable resource in the Stabroek Block to between 2.25 and 2.75 BBOE. Esso Exploration and Production Guyana Limited, an affiliate company of ExxonMobil, found 59[Read More…]

Going Private: Mexico’s First Private Offshore Well in 80 Years Pays Off Big

Going Private: Mexico’s First Private Offshore Well in 80 Years Pays Off Big

1.4 billion barrel discovery at 11,000 feet – en route to 14,000 Sierra Oil & Gas, Talos Energy and Premier Oil (ticker: PMO) have announced the discovery of a massive oil field in offshore Mexico, with more than 1 billion barrels of oil recoverable. According to the Financial Times, this is the fifth-largest oil discovery in the world in the[Read More…]

In Q2, 17 Tcf of Gas Discoveries Help BP Achieve its Natural Gas Goals

In Q2, 17 Tcf of Gas Discoveries Help BP Achieve its Natural Gas Goals

Trinidad, Senegal, Egypt efforts bear fruit BP (ticker: BP) announced highlights of its Q2 2017 exploration activities today, collecting the results of several different projects. Four discoveries representing 17+ Tcf of gas BP reports that it has made four gas discoveries so far in 2017. Two separate discoveries were made near Trinidad and Tobago. The Savannah exploration well was drilled[Read More…]

Gran Tierra Energy Producing Almost 30 MBOEPD in Colombia and Brazil

Gran Tierra Energy Producing Almost 30 MBOEPD in Colombia and Brazil

Headquartered in Calgary and with its main operations in Colombia, Gran Tierra Energy, Inc. (ticker: GTE) averaged 29,879 BOEPD in its first quarter of 2017. Q1 activity During its first quarter of 2017, Gran Tierra recompleted its Costayaco-2 well into the “A” Limestone. This marks the third well producing out of the “A” Limestone. The company also drilled its Costayaco-28,[Read More…]

June 29, 2017 - 5:05 pm 360 Articles, Canada, Closing Bell Story, Discoveries, E&P, TOGC 22
Another 15 Tcf of Natural Gas Discovered

Another 15 Tcf of Natural Gas Discovered

Kosmos has drilled six successful exploration wells in the area – gas destined for LNG exports Kosmos Energy (ticker: KOS) announced today the discovery of a very large gas field in offshore Senegal, adding to the company’s Senegal/Mauritania assets. The Yakaar-1 well has encountered 148 feet of net pay in three pools, with a gross hydrocarbon column of just 394[Read More…]