Exploration ///

Bankers Petroleum bags Hungarian exploration block

Bankers Petroleum has announced a successful bid, in the third Hungarian bid round, for the Püspökladány Block (Block "P"), within the Pannonian basin, in north eastern Hungary.

Katalyst Data Management enters Australia, awarded major seismic data project

Mere months since their market entry into the Asia-Pacific, Katalyst Data Management, through its Australian subsidiary KDM SpectrumData, has taken on a major oil and gas seismic data management project for the Geological Survey of Queensland and the Department of Natural Resources and Mines in Australia.

Statoil receives consent for exploration drilling in the North Sea

The PSA has now granted Statoil consent for exploration drilling.

NuTech Energy acquires Emerald Operating and Rocky Mountain Exploration

NuTech Energy Resources, Inc., a natural gas and oil exploration and development company, is pleased to announce that the Company has entered into an agreement to acquire wells from Emerald Operating Company and Rocky Mountain Exploration, Inc.

Ophir completes wildcat exploration in Gulf of Thailand

Ophir Energy plc has completed operations on the G4/50-11 wildcat exploration in the South Western Graben of the Gulf of Thailand.

Shell confirms major deepwater Gulf of Mexico discovery

Shell completed the drilling and appraisal of Kaikias ahead of schedule and under budget, allowing the company to achieve more than 20% in cost savings.

Statoil exits Alaska following exploration results in neighboring leases

The leases in the Chukchi Sea are no longer considered competitive within Statoil’s global portfolio, so the decision has been made to exit the leases and close the office in Anchorage, Alaska.

Barents Sea safety and rescue capabilities assessed

Peter Schütz, DNV GL

Conditions in the Barents Sea are more favorable for offshore activities than in other Arctic areas.

Regional Report: The Arctic

Mike Slaton, Contributing Editor

Prices, sanctions and environmental politics chill the air

Oil explorers prepare for another year of depressed prices

The biggest oil explorers to post earnings so far are bracing for another year of deep spending cuts as the slump in energy markets shows no signs of abating.

U.S. offering another $1 billion for advanced energy technology

The U.S. Energy Department is offering another $1 billion to companies developing innovative energy systems, Secretary Ernest Moniz will announce Wednesday.

SEG ’15: Opening session looks to New Orleans for inspiration to “recover and prosper”

A highlight of the Society of Exploration Geophysicists (SEG) 85th international exposition and annual meeting underway here was the opening session on Monday morning with a welcome by Julius Doruelo, annual general meeting chair; presidential address from Christopher Liner and a panel session moderated by Michael Bahorich, a director of Global Geophysical.

SEG ’15: Energetic turnout by geophysicists, despite industry slowdown

The Society of Exploration Geophysicists (SEG) inaugurated its 85th annual convention with an icebreaker on the exhibit floor with an enthusiastic turnout by delegates from throughout the world, despite an industry slowdown that has had a significant impact on the exploration sector.

Norway warns of weakened chances to get exploration blocks in Barents Sea

Norway, western Europe’s biggest oil and gas producer, warned companies that failing to extract less profitable barrels could weaken their chances of getting exploration blocks in a new area of the Arctic Barents Sea.

Brazil oil auction sees weak demand for first blocks offered

Brazil’s first auction of oil and natural gas exploration rights in two years got off to a weak start with three of the first four basins offered receiving no bids.

Big Oil deferring spending lowers costs for India's top explorer

The worst commodity slump in a generation has a silver lining for India’s state-run energy explorer.

Oil rises from two-week low as U.S. output, supply seen falling

Oil climbed from a two-week low amid expectations a government report will show a slowdown in drilling has trimmed U.S. crude supplies -- a sign that the oil glut might finally be shrinking.

Somalia's Puntland begins exploration in offshore blocks

Puntland, a semi-autonomous region of northeastern Somalia, will conduct a survey of its offshore region to search for oil as the country prepares a licensing round for exploration, the head of the Puntland Petroleum and Minerals Agency said.

How wide-azimuth, long-offset seismic reduces field development costs in the Bakken

Bill McLain, Ajay Badachhape, Global Geophysical Services

Land seismic innovations, such as the affordable acquisition of wide-azimuth, long-offset data, coupled with offset and azimuthally friendly processing, provide rich insights into the Bakken formation.

Oil discovery in northern part of the North Sea

Statoil Petroleum AS, operator of production licence 104, has concluded the drilling of wildcat well 30/9-27 S.