Falcon’s partner Origin Energy will complete a nine well exploration and appraisal programme, if the moratorium is lifted.
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The firm currently owns 50% of SECCO with partners China Petroleum & Chemical Corp, better known as Sinopec, owning 30%, and Shanghai Petrochemical Co Ltd - in which Sinopec has a controlling stake – holding the remaining 20%
“The confirmation of an additional gross 22.6 million barrels from our existing well re-entry strategy is very exciting."
An investigation of the deeper prospectivity within Frontier Exploration Licence (FEL) 2/13 has uncovered four more significant exploration prospects which take the asset's potential to 1.12bn barrels - meanwhile, farm-out talks continue with potential partners.
“US Shale oil is clearly back in business,” analyst Brendan Long said in a note.
New shale wells are due to start before the end of the year and site selection is underway for new projects in North West England.
Cairn takes over as operator of LO 16/19, which spans 976 square kilometres on the Western flank of the South Porcupine Basin, offshore Ireland.
Schlumberger will carry out a US$27mln geophysical programme to identify follow-on targets to build on the successes at nearby Tendrara.
The Arctic Fox rig started drilling Icewine-2 last night, at 19:15 local time in Alaska.
It builds on the three-well agreement the pair inked covering Tendrara and follow-up agreement that will allow the US group to earn into the Badile operation near Milan, Italy.
The 'multi-client' Crean 3D seismic adds to a potentially high impact summer exploration campaign in the waters off Ireland's west coast.
The cash call sees Tullow hit financial reset, and puts growth projects back on the agenda.
Shares climbed just shy of 15% after Aminex estimated some 466bn cubic feet of gas at the Ntorya project in Tanzania.
Green light or fracking ban: Falcon has had great success but the future is binary (and politically charged).
New resources numbers are now based on two successful wells at the Ntorya project.
Macquarie also cut its target price for Centrica to 220p and downgraded its 2017 earnings per share estimate by 17%, taking it to 9% below consensus
The AIM-listed group said that the G3-UHt unit – which was shipped over to the UK from Australia earlier this year - operated at a temperature of over 1000 degrees Celcius, demonstrating its capacity to “gasify any historically difficult waste material and generate synthesis gas”
Octant has completed its pivotal acquisition of Kenyan assets from the former Afren Plc
The farm-out deal saw the AIM quoted explorer retain an 18% stake in the project, and Statoil commit to pay Jersey’s share of drilling costs, up to US$25mln on the first well.
In a note to clients, the US bank cut its stance on BP to ‘neutral’ and chopped its rating for Shell to ‘sell’ after scrutinising recent annual reports
The AIM-listed oil and gas investor says its 'encouraged' by the first six months of involvement in OML 18 notwithstanding a demanding operating environment in Nigeria and the challenges faced by operator Eroton.
The company has also confirmed it will go it alone with the exploration of Sidi Moktar thanks to its strong financial position, rather than bringing in a partner.
Evaluation work is now underway towards an estimate of recoverable resources for the gas discovery in the Abu Madi prospect, and further drilling will deepen down to oil targets.
Whilst retaining a ‘hold’ recommendation the Barclays analyst lifts his price target slightly, to 75p from 74p.
The ‘new Sound’ will be focussing on South America, not North Africa, and the company is launching a £23mln funding ahead of its first deal.