Hess Corporation announced today it has completed drilling of its seventh consecutive successful exploratory well on the Deepwater Tano/Cape Three Points block offshore Ghana. The Pecan North-1 well, located approximately seven miles northeast of the Pecan-1 well, encountered approximately 40 feet of net oil pay in Turonian aged reservoir. The results of the seven wells [...]
February 28, 2013 | Posted in
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Russia’s Rosneft today, February 13, signed loan agreements for the total amount of U.S. $14.212 billion. The money raised will be used for the acquisition of a 50% stake in TNK-BP Ltd. from AAR (Alfa, Access, Renova) Consortium. The cost of the financing that is being arranged is one of the lowest at the Russian [...]
Ophir Energy plc announces the successful results of its appraisal programme on the Mzia field, Block 1 Tanzania, and the commencement of its Block 1 flow testing programme. Ophir holds 40% of Blocks 1, 3 and 4; the BG Group operates with 60%. Successful Mzia-2 Appraisal The Mzia-2 appraisal well was drilled approximately 4km to [...]
BC Petroleum Sdn Bhd (“BCP”), the Company incorporated to operate and manage the Balai Cluster Risk Service Contract (“RSC”) in Malaysia, has drilled the Balai-2 well to a total depth (TD) of 2,266 metres TVDss and has encountered up to 87 metres of hydrocarbon pay in multiple zones. The Balai-2 well is the second well [...]
Russia’s oil company Rosneft has signed two loan agreements with a group of international banks for the total amount of U.S. $16.8 billion to finance the acquisition of 50% stake in TNK-BP from BP. Pursuant to these loan agreements, Rosneft obtains a 5-year loan of U.S.$ 4.1 billion and a 2-year loan of U.S.$12.7 billion [...]
OAO Sovcomflot (SCF Group) today announces that on 12 December 2012 it signed a USD 160 million, 12 year export credit facility with Finnvera plc, Finnish Export Credit Ltd. and ING BANK N.V. The funds will be used towards financing two new ice-breaking supply vessels, Vitus Bering and Aleksey Chirikov, currently under construction at Arctech [...]
GulfMark Offshore, Inc. announced today that, subject to market conditions, it intends to offer $150 million in aggregate principal amount of its 6.375% Senior Notes due 2022 for sale in a private offering. The notes will have substantially the same terms as the $300 million aggregate principal amount of 6.375% Senior Notes due 2022 issued [...]
BP yesterday reached agreement with the United States government to resolve all federal criminal charges and all claims by the Securities and Exchange Commission (SEC) against the company stemming from the Deepwater Horizon accident, oil spill, and response. As part of the resolution, BP has agreed to plead guilty to 11 felony counts of Misconduct [...]
Roc Oil (China) Company announced that the WZ6-12-A7 deviated step-out exploration well in Beibu Gulf, China, designed to test the Sliver fault segment and the Liushagang footwall exploration prospects, reached a total depth (TD) of 2,658 metres (2,211 metres TVD) in the Liushagang formation on 11 November. The well was drilled by the HYSY 931 [...]
Indonesia’s state-owned oil company, Pertamina, is preparing a takeover bid for Coastal Energy Company, Financial Post yesterday reported. The newspaper claims it has received a document which says that Pertamina is willing to pay a 15% premium to Coastal’s share price, the bid which values the oil and gas exploration & production company at $2.6-billion. [...]
