Category Archives: Offshore Ocean News and Information

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Rathlin: UK appraisal results ‘encouraging’

Rathlin Energy (UK) is assessing initial results it calls “encouraging” in an appraisal well drilled to assess a natural gas discovery in Humberside, England. Rathlin drilled the West Newton A-2 appraisal well to 2,061 m on PEDL 183 near Hull. It cut 28 m of core and ran wireline logs in the Permian Kirkham Abbey…

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MARKET: Brent crude falls more than $1/bbl

Brent oil prices fell on the London market by more than $1/bbl for August and September delivery while light, sweet crude oil in New York for July delivery settled under $52/bbl on concerns of the possibility of oil shipment disruptions through the Middle East. The price drops came amid talk of a possible military confrontation…

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Lancaster oil shipments start off the UK

Hurricane Energy PLC has sold the first cargo of crude oil from the early production system on Lancaster field in the West of Shetland area offshore the UK. Hurricane says Lancaster is the UK’s first producing basement field.

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Leaseholders told to recalculate royalties under 2016 rule

A federal court’s March decision that vacated the US Office of Natural Resources Revenue’s repeal of its consolidated federal oil and gas and federal and Indian oil and gas effectively reinstated the 2016 requirements, ONRR advised federal leaseholders. Accordingly, the leaseholders should recalculate royalties under the 2016 rule for production since Jan. 1, 2017, it…

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PTTEP agrees to acquire Partex Holdings

PTT Exploration & Production Co. has signed an agreement to acquire 100% of Partex Holding from the Calouste Gulbenkian Foundation of Portugal for as much as $622 million. The deal, expected to close by yearend, will boost the Thai company’s net-interest production by 16,000 b/d of oil and reserves by 65 million boe of oil…

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ConocoPhillips to acquire Nuna discovery acreage

ConocoPhillips Alaska reported it will acquire 11 tracts covering 21,000 acres in the western Alaska North Slope, which includes the 2012 Nuna oil discovery, from Caelus Natural Resources Alaska. Nuna lies east of the Colville River and 5 miles southwest of Oooguruk oil field where, in January, Caelus agreed to sell a 70% interest to…

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Equinor drills duster near Korpfjell gas discovery

Equinor Energy will plug exploration well 7335/3-1 in PL 859, which was drilled 8 km southeast of the 7435/12-1 (Korpfjell) natural gas discovery in the Barents Sea, and 435 km north of Vardo. The well was dry. The well was drilled to a vertical depth of 4,268 m subsea drilled by Seadrill’s West Hercules semisubmersible…

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Aker BP granted North Sea drilling permit

Aker BP has been granted a drilling permit by the Norwegian Petroleum Directorate for well 25/2-20 in production license 442 in the North Sea.

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MARKET: Brent for August tops $62/bbl

Brent oil prices rose moderately on the London market June 14 with the August contract closing slightly above $62/bbl while light, sweet crude prices in New York held fairly flat, again settling above $52/bbl.

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ONGC moves 35 rigs ahead of monsoon season

India’s Oil & Natural Gas Corp. Ltd. reported moving a record-high 35 offshore drilling rigs to new locations ahead of the Indian monsoon season. Aqualis Offshore said it assisted with many of the moves.

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