W&T Offshore’s ST 224#1 exploration well has failed to find hydrocarbons in the Gulf of Mexico offshore the United States. W&T’s partner in the project, Otto Energy, said the well had been drilled to a total measured depth of 3,322 meters. Otto said the targeted BN sand interval was intersected close to prognosis at 3,149 meters measured depth, however based on log observations the sand is considered to be water bearing, Otto said. The well will now be plugged and abandoned.
Company Updates
WA gas report warns of declining exploration consequences
An independent review of Western Australia’s gas market highlights the urgent need for more exploration to secure future supply. The Australian Energy Market Operator’s annual WA Gas Statement of Opportunity (GSOO), released recently, warns of a gas shortage in the west if new supply is not developed in the next five to seven years. The report shows exploration in WA in 2017 was at its lowest level since 1990.
Polarcus gets permission for seismic survey in Australia
Polarcus has secured significant industry prefunding and has been granted the environmental permit for a broadband 3D marine seismic project in Australia. Polarcus did not provide details on the project, but the Australian offshore safety regulator NOPSEMA has revealed that the project is called the Zénaïde 3D. NOPSEMA recently accepted the environment plan for the project, a three-dimensional multi-client marine seismic survey to be undertaken in Commonwealth waters located approximately 50 km off the Kimberley coast of northern Western Australia.
CNOOC hits gas in Bohai Bay
China’s CNOOC has announced a mid-sized natural gas field discovery, Bozhong 19-6 in Bohai Bay, offshore China. The company said Bozhong 19-6 trap was located in the southwest sag of Bozhong south central Bohai, in average water depths of about 22 meters. The discovery well Bozhong 19-6-1 was drilled and completed at a depth of 4,181 meters and encountered oil pay zones with a total thickness of approximately 25 meters and a gas reservoir with a total thickness of about 348 meters. The well was tested to produce about 1,000 barrels of oil and 6.
Po Valley toasts Podere Majar well in Italy
Positive log results have been announced by Australian ASX-listed natural gas company, Po Valley Energy Limited, from the drilling of its Podere Maiar 1dir (“PM1”) well in the Selva Gas Field in northern Italy’s Podere Gallina licence area. It will now be completed as a production well. PM1 was successfully drilled to a total depth of 1,330 metres in the Pliocene ahead of schedule and on budget. Downhole log results from Schlumberger confirm a gross gas pay of 53m.
AWE rejects China takeover woos
AWE Limited has resisted a proposal from China Energy Reserve and Chemical Group for the acquisition of 100% of its shares. AWE revealed that the unsolicited, non-binding, indicative, and conditional offer came from China Energy Reserve and Chemical Group’s (CERCG) Australian subsidiary. The company said China’s state-owned CERCG wanted to acquire 100% of its shares on a fully diluted basis, at a price of $0.71 cash per share under either a recommended takeover bid or a scheme of arrangement (indicative proposal). The total cash consideration for a 100% share acquisition stands at around $430 million. The $0.
OGA releases free UK offshore seismic data
The Oil and Gas Authority in the United Kingdom has released the $35 million government-funded seismic data to promote exploration in under-explored areas of the UK and the North Sea. The datasets, now available to industry and academia, will support the next Offshore Licensing Round, set to open in mid-2018, and contains 19,000km of newly acquired broadband seismic data, new gravity and magnetic surveys, approximately 23,000km of reprocessed legacy seismic data and a rejuvenated set of digital well data, in addition to various supplementary reports.
Global Petroleum extends license offshore Namibia and seeks farm-in partner
Brisbane-based Global Petroleum has been granted an extension by the Namibian Ministry of Mines and Energy for its license offshore in the Walvis Basin and entered into second renewal period. Global, via subsidiary Jupiter Petroleum, holds an 85% participating interest in Petroleum Exploration Licence No. 0029, encompassing offshore blocks 1910B and 2010A located in the Walvis Basin. Global Petroleum’s subsidiary, Jupiter Petroleum, been granted an extension to the First Renewal Exploration Period (Phase 2) of 12 months to December 3, 2018 for Petroleum Exploration Licence No. 29, which covers Blocks 1910B and 2010A.
AWE delivers flow test record from Waitsia field
AWE Energy has popped the bubbly, celebrating one of the highest onshore flow rates in the Australian oil and gas industry. The Sydney independent oil and gas producer revealed that the Waitsia-4 well in the Perth Basin flowed gas at an instantaneous maximum rate of 90 million standard cubic feet per day from the Kingia Sandstone and an average of 89.6 MMscf/d on a 96/64 inch choke at ~2,395 psig flowing well head pressure over a 23-minute period.
Australian subsea sector set to see major activity improvement
THE Australian subsea oil and gas industry is about to see a significant increase in activity, according to one of the region’s leading figures. Marius Martens, the Chairman of national industry body, Subsea Energy Australia. and a senior committee member overseeing content for the 2018 Australasian Oil & Gas Exhibition & Conference (AOG2018) Subsea Forum, says that subsea activity is expected to grow to support both new and recently constructed projects. In terms of new projects; Mr Martens says there are a number of major subsea developments, either as tie-backs to shore or to offshore facilities, underway in Australian waters.