Managing director Dave Wall told Proactive Investors that the spud date for Icewine 2 is anticipated in April.
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Oil is flowing from the Opuama field into the market, now that Eland has established a shipping operation.
Nearly 120,000 barrels of crude has been shipped from the Opuama field in the past two weeks, Eland reveals.
TE-8 will be around 12 kilometres from the last successful hole and is what’s called a step out well because it will test the lateral extent of gas that has been discovered in the TAGI reservoir.
Otakikpo will now be ramped up from 5,000 bopd to 10,000 bopd over the coming months.
Here, we feature questions and answers that provide valuable insights to the Beetaloo shale project, and what investors can expect in the coming months.
“We suggest keeping a close eye on this well given the massive landholding of the company" says WH Ireland.
"HNR has shown a keen eye for potentially game-changing technology and significant, overlooked resources in an industry which, until recently, has largely been in retrenchment mode,” analyst Jack Allardyce said in a note.
The move should have a two-fold benefit for the group’s shares, allaying fears over a massive diluting overhang, while also freeing up cash used for interest payments.
Flow test results could be coming in the next week or two, so says one certain prominent well watcher.
Takeover targeted Ithaca Energy has confirmed that production has now begun at the Stella field.
"We are pleased to report the continued progress being made by Statoil in preparation for drilling the Verbier prospect this summer," said chief executive Andrew Benitz.
“The Arctic Fox is one of the premier rigs on the North Slope and will be coming to us 'warm' off its current job, which has several significant benefits."
The owner of the UK’s largest power station said underlying earnings (EBITDA) fell to £140mln in the year to 31 December 2016, in line with guidance
Citing figures produced by Origin Energy, its partner in and operator of 16,000-square kilometres of licences, the gross best estimate of gas in place is put at a world-class 496 trillion cubic feet. Converting that to oil equivalent, it stacks up to 82bn barrels of the black sticky stuff.
The estimated cost of the revised work programme has been reduced from US$3.5mln to US$2.5mln.
"Regaining momentum in our Trinidad production and business development activities is a key objective for the company in early 2017,” said chief executive Neil Ritson.
The AIM-listed company said its group revenues in the third quarter were ahead of expectations “as a result of stronger than anticipated demand.”
Drilling operations will commence as soon as the site has been cleared
Our oil sleuth looks at the impact of recent cuts to output, which have been felt widely.
With cash and borrowings in excess of US$370mln, chief executive Graham Stewart said he and his team would continue to pursue “consolidation opportunities”.
Analysts at broker Cantor Fitzgerald said: “The key issue in our view, remains whether a consistent payment mechanism can be established."
Exciting assets in Nigeria now take centre stage for COPL, according to Shard Capital analyst Barney Grey
The Swiss bank has trimmed its price target but thinks BP is generally on the right track
Oil production, which averaged 65,500 barrels a day in 2016, is expected to come in at between 78,000 and 85,000 barrels a day this year.