Exploration & Production (E&P) – Page 717

Barclays Estimates Global E&P Spending to Set Record in 2014; Horizontal Drilling in the Permian Pace North American Growth

December 10, 2013

Global exploration and production spending is poised to reach $723 billion in 2014, according to a 2014 Global E&P Spending Report by Barclays on December 9, 2013. The record will mark the first time spending has eclipsed the $700 billion mark, and represents an increase of 6.1% in regards to 2013’s total of $682 billion. Barclays estimates the United States

New EE3 North Park Basin Niobrara Well Averages 685 BOEPD Over 30 Days

December 10, 2013

EE3 LLC is an independent oil and gas exploration and production company headquartered in Boulder, Colorado. The company has amassed more than 100,000 net acres in the North Park Basin (Jackson County, Colorado) to prove up a new horizontal Niobrara concept. Damfino #02-06H Produces 20,542 BOEs in 30 Days Today EE3 announced the highest reported 30-day initial production rate of a horizontal

Unit Corporation’s Reserve Base and Midstream Productivity Highlight 2013 Analyst Day

December 6, 2013

Unit Corporation (ticker: UNT) is a diversified energy company engaged through its subsidiaries in the exploration for and production of oil and natural gas, the acquisition of producing oil and natural gas properties, the contract drilling of onshore oil and natural gas wells, and the gathering and processing of natural gas. The company is celebrating its 50th Anniversary in 2013.

ERHC Energy in Process of Completing Airborne Gravity Survey in its Kenya 11-A Block; Neighboring Operators Announce a Fifth Oil Discovery

November 26, 2013

ERHC Energy Inc. (ticker: ERHE) is a publicly traded American company with oil and gas assets in Sub-Saharan Africa. Over the last two years, ERHC has acquired exploration blocks in Chad and Kenya to complement its existing offshore blocks in the Joint Development Zone offshore São Tome and Principé. On November 22, 2013, Tullow Oil (ticker: TLW) announced the Agete-1

Afren plc Exceeds Pre-Drill Estimates by 283% in Wild Cat Discovery in Offshore Nigeria

November 19, 2013

Afren plc (ticker: AFR) is an independent upstream oil and gas exploration and production company listed on the main market of the London Stock Exchange. Afren is currently producing from its assets offshore Nigeria and Côte d’Ivoire and holds further interests in the Kurdistan region of Iraq, Ghana, Nigeria, Côte d’Ivoire, Congo Brazzaville, the Joint Development Zone of Nigeria -São

ERHC Energy Exploring in the Right Neighborhood; Adjacent to Recent Ekales-1 Well Discovery

October 7, 2013

ERHC Energy Inc. (ticker: ERHE) is a publicly traded American company with oil and gas assets in Sub-Saharan Africa. Over the last two years, ERHC has acquired exploration blocks in Chad and Kenya to complement its existing offshore blocks in the Joint Development Zone offshore São Tome and Principé. In a recent update, ERHC reported preparations were still underway for

Afren Makes Discovery Offshore Nigeria – Prospective Resources Exceed Expectations

June 27, 2013

Afren Plc (ticker: AFR) and Lekoil (ticker: LEK) jointly announced a major discovery of significant light oil accumulation at the Ogo-1 well located on the OPL 310 license offshore Nigeria. Today’s discovery confirms the extension of the same Cretaceous sandstones that have shown-way for other significant discoveries along the West African Transform Margin. Well Details The Ogo-1 well was drilled

ERHC Energy Inc. Signs Letter of Intent to Farm-Out a Portion of Its Interest in Kenya Exploration Block

May 6, 2013

ERHC Energy Inc. (ERHE) is a publicly traded American company with oil and gas assets in Sub-Saharan Africa. Over eighteen months to two years, ERHC has acquired additional exploration blocks in Chad and Kenya to complement its existing offshore blocks in the Joint Development Zone offshore São Tome and Principé. On May 6, 2013, an important announcement was made regarding ERHC’s

Progress Report: BPZ Energy Joint Venture with Pacific Rubiales in Peru

April 16, 2013

BPZ Energy (ticker: BPZ) is exploring and producing from licensed contracts covering approximately 2.2 million gross acres in four properties in northwest Peru. One short year ago, a strategic inflection point for BPZ Energy was identified by OAG360. BPZ announced a long-awaited joint venture with Pacific Rubiales Energy Corp. (ticker: PRE:CA) for the development of BPZ’s offshore Block Z-1. Pacific

Unit Corp: Three Parts Make a Whole; Grows Reserves 29% in 2012

February 8, 2013

Unit Corporation (ticker: UNT) is a unique company in the oil and natural gas industry. The company is a diversified energy company through its subsidiaries Unit Petroleum Co, Unit Drilling Co and Superior Pipeline Co. As such, there are a number of ways to look at how to value UNT. In this write-up, OAG360 will be looking at production and

Chesapeake Energy Corp. CEO McClendon Hanging Up the Drill Bit

January 30, 2013

Chesapeake Energy (CHK) formally announced founder, and current president and chief executive officer Aubrey McClendon will retire effective April 1, 2013. At age 53, McClendon was with the company for 24 years since its inception in 1989 with fellow partner Tom Ward. The Board of Directors said McClendon’s departure is not related to CHK’s ongoing investigation into financing arrangements and

ERHC Energy Receives Shareholder Approval for Capital Raise to Fund African Exploration Initiatives

October 11, 2012

A recommendation to increase the number of any company’s authorized shares of common stock from 950 million shares to three billion shares would make anyone read the fine print. Back in August, ERHC Energy Inc. (ERHE), a publicly traded American company with oil and gas assets in West Africa and East Africa, submitted a plan to significantly intensify its fundraising

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