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Oil and Gas

Jubilant Energy Concludes Oil Drilling Programme

Aug 20 2012 @ 06:30
AIM-quoted Jubilant Energy N.V. (LSE:JUB) has concluded its’ Phase III drilling programme in India, after successfully testing the last of the seven wells at its only producing Kharsang field, the company said today. KHG-64, the seventh well, is now flowing at a rate of 226 barrels of oil per day (bopd) after reaching a depth […]
 

Petroceltic International Offers to Merge with Melrose Resources

Aug 17 2012 @ 08:00
AIM-quoted companies, Irish oil and gas firm Petroceltic International plc (LSE:PCI) and Scotland-based Melrose Resources plc (LSE:MRS) agreed to a merger to create a “regionally focussed independent oil and gas company”, the two companies disclosed today. Merger talks, which caught some investors by surprise, had been in place since February 2012, following a confidentiality agreement […]
 

Premier Oil Plugs Appraisal Well in Vietnam

Aug 17 2012 @ 05:30
The move by Premier Oil plc (LSE:PMO) to determine the northern extent of its’ Chim Sao oil field in Vietnam proved to be unsuccessful when the Chim Sao North West appraisal well did not find oil at one of the target reservoirs. Drilling 4,235 metres, Premier plugged and abandoned the CS-3X well after only the […]
 

Roxi Petroleum Shares Jumps On Oil Production Estimates

Aug 15 2012 @ 07:45
Shares of Roxi Petroleum plc (LSE:RXP) jumped 11.7% in early morning trading after the Kazakhstan-focussed oil and gas firm said gross production from its Galaz field is anticipated to be at 500 barrels of oil per day (bopd). Roxi shares traded as high as 3.688 pence following the news before it went down to 3.25 […]
 

Kea Petroleum: On the Brink To Become Oil & Gas Producer

Aug 15 2012 @ 06:00
Kea Petroleum plc (LSE:KEA) is now about to become a commercial oil and gas producer, according to the New Zealand-focussed explorer. The director made the statement following the results of the production testing made at the Puka-1 well in onshore New Zealand. Oil and gas flowed at a controlled rate of 290 barrels per day […]
 

JKX Oil & Gas Profits Fall; Scraps Dividend

Aug 14 2012 @ 08:10
JKX Oil & Gas plc (LSE:JKX) will not release an interim dividend for its shareholders, the company said today. The decision came alongside results for the January to June 2012 period, reflecting a drop in revenue and operating profit brought about by the fall on production in its Ukraine and Hungary assets and delays from […]
 

BP Announces Three Divestments in Five Days. Plan is on Track.

Aug 13 2012 @ 09:01
Over the last five days BP has announced either agreements for the sale or the consummation of sales of significant portions of its business.  By divesting of these units, cash is flowing into the company coffers to ensure that it can keep its commitments to pay some $20 billion in claims arising out of the […]
 

Edge Resources Discovers a New Oil Field

Aug 13 2012 @ 06:45
Edge Resources Inc. (LSE:EDG) has just turned a zero-value asset into a new oil field. In a statement released today, Edge said it discovered a new pool to the east of its Primate project in Saskatchewan, Canada after drilling two wells that gave at least 12 metres of formation sands each, enough to merit 3D […]
 

PetroNeft Resources Drills 10 Wells for September Production

Aug 13 2012 @ 03:45
Russia-focussed oil and gas producer PetroNeft Resources (LSE:PTR)  has commenced drilling the first of the ten-well development programme  at its Arbuzovskoye oil field and expects to put them into production by next month, September, the company announced today. The plan has been in place since it was approved last November 2011 and Petroneft has stated […]
 

Caza Oil & Gas Reports Increased Production and Revenue

Aug 10 2012 @ 06:15
US-focussed explorer Caza Oil & Gas Inc. (LSE:CAZA) said revenue for the second quarter increased, as production improved by new wells brought into operation, despite a drop in the price of oil. In a statement released today, Caza reported over US$1 million revenue, about a third more for the same period a year ago, total […]
 
 
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