Drilling ///

Repsol Norge granted drilling permit for first well in licence 705

The Norwegian Petroleum Directorate has granted Repsol Norge AS a drilling permit for well 6705/7-1, cf. Section 8 of the Resource Management Regulations.

Leviathan partners ratify $3.75-billion gas-development plan

The companies that own the rights to Leviathan, Israel’s largest natural gas reservoir, approved a plan to allocate $3.75 billion to develop the offshore site. Israel’s main gas equity index rose the most in almost five months.

Senex Energy sanctions $50-million investment in Australia's Western Surat gas project

Senex Energy Limited has sanctioned its first major investment in the Western Surat gas project, committing $50 million to a 30 well drilling campaign, with gas production of around ~0.6 MMboe expected by mid-2018.

Gas pioneer Chesapeake embarks on oil quest to escape poor investment rating

Chesapeake Energy, the number two U.S. natural gas producer, thinks it has a one-word answer to its debt issues: oil.

Gazprom Neft to drill first prospecting and appraisal well in Ayashsky block

Gazpromneft-Sakhalin, a subsidiary of Gazprom Neft, has signed a contract with Hakuryu 5, Inc. (a 100%-owned subsidiary of Japan Drilling Co., Ltd., Japan) regarding the leasing of a drilling rig for construction of a prospecting and appraisal well at the Ayashsky licence block, located on the continental shelf of the Sea of Okhotsk.

Rosneft signs Libya oil deal as more investors return to country

Rosneft signed investment and crude-purchasing agreements with Libya’s National Oil Corp. as more international companies return to the North African country to gain access to Africa’s largest reserves.

Rosneft begins drilling first exploration well in Iraq

Rosneft has begun drilling of the first exploration well at the Block 12 in the Republic of Iraq.

President Energy commences operations at Puesto Guardian Concession, Argentina

Further to the Company’s announcement on Jan. 11, 2017, President Energy has announced that the workover rig has been mobilized to the first well location, and that operations have already commenced.

Sound Energy commences drilling of third Tendrara well in Morocco

Sound Energy, the African and European focused upstream gas company, is pleased to confirm the commencement of drilling at the third Tendrara well, onshore Morocco.

Biggest U.S. drilling surge since 2012 has producers cashing in

U.S. drillers pushed ahead on the biggest surge in oil drilling since 2012 as companies take advantage of oil prices that have held steady above $50 for almost three months.

Saipem awarded onshore drilling contracts worth $240 million

Saipem has been awarded new contracts and the extension of pre-existing agreements in the onshore drilling sector in Saudi Arabia, Morocco, Bolivia and Argentina for a total value of $240 million.

SOCO reports approval of Te Giac Trang field development plan in Vietnam

SOCO, an international oil and gas E&P company, announces that the Hoang Long Joint Operating Company has received from the Government of the Socialist Republic of Vietnam the formal approval of the updated Full Field Development Plan (FFDP) for the Te Giac Trang (TGT) field, offshore southern Vietnam.

Rosneft begins drilling first exploration well at Solimoes project, Brazil

Rosneft Brasil (100% owned Rosneft subsidiary) started the drilling of the first exploration well in the Solimoes basin.

Eni, BP pouring more investment into Egypt than anywhere else

Eni SpA will start producing from the giant Zohr natural gas field off Egypt’s Mediterranean coast by the end of 2017 and plans to invest $10 billion in the North African country over the next five years, CEO Claudio Descalzi said.

Siberian oil giant that bankrolled USSR may gush cash again

Russia’s largest oil field, so far past its prime that it now pumps almost 20 times more water than crude, could be on the verge of gushing profits again for Rosneft.

What oil crisis? Arctic drilling off Norway set for record

Explorers look set to drill a record number of wells in Norway’s Arctic waters this year, undeterred by oil prices apparently stuck below $60/bbl.

Oil slips most in three weeks as OPEC cuts face rising U.S. output

Oil declined in New York as OPEC’s supply cuts are tempered by a revival of shale drilling in the U.S.

Weatherford UK Secure Drilling Services facility achieves API Q2 certification

Weatherford International plc announced today that its Secure Drilling Services facility in Aberdeen, Scotland, received API Specification Q2 certification — making it the first API Q2-certified facility in the United Kingdom.

Investor honeymoon with OPEC falters as U.S. shale drilling booms

There are limits to investors’ love affair with OPEC.

Petro River Oil identifies significant reserve potential with new 3D seismic data

Petro River Oil, an independent oil and gas exploration company utilizing the latest 3D seismic technology, announced today that recently acquired and reprocessed 3D seismic data has shown positive results in three of the Company’s project areas located in California and Oklahoma.