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Blue Energy Drill rig

Blue Energy courts top international investor in capital raising

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Blue Energy Limited (ASX: BUL) has announced that it has raised approximately $2.0 million (net of fees) through a targeted share placement to a global institutional investor. The Brisbane-based company said it will issue a total of 13,000,000 fully paid Blue Energy ordinary shares, at an issue price of $0.155 per share to the new participant, IFM Investors. IFM Investors is a top tier global institutional investor with over $100 billion in funds under management. Blue Energy said...

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Explorers will turn the corner in 2018: Wood Mackenzie

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Energy intelligence group Wood Mackenzie expects exploration investment to be lower in 2018 than in 2017, albeit in a year where may companies can begin to look forward to a brighter economic outlook. Wood Mackenzie expects most oil companies to retain a cautious approach this year with well counts remaining low, but says the industry’s focus in recent years on reducing costs will likely producer better returns in 2018. Wood Mackenzie believes the favoured plays will be deepwater...

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Polarcus Amani and Samur

Polarcus and TGS extend agreement by another year

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Marine geophysical company Polarcus has extended a collaboration agreement signed in October 2016 with Norway’s TGS for another year. The multi-client and vessel agreement made provision for both companies to jointly select 3D multi-client projects. The new agreement extends TGS’ vessel commitment with Dubai-headquartered Polarcus to the end of 2018 for up to 10,000 sq.km. Polarcus said the recently announced XArray project in the Gulf of Mexico with TGS forms part of this...

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Trump opens US offshore up for big exploration

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The Trump administration is taking steps to open up almost the entire offshore continental shelf for oil and gas exploration and production. The US Department of Interior said that proposed National Outer Continental Shelf Oil and Gas Leasing Program for 2019-2014 would make over 90 per cent of OCS acreage and more than 98 percent of undiscovered, technically recoverable oil and gas resources in federal offshore areas available for future exploration and development. The program would...

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AEGC 2018 is shaping as the don’t miss event of the new year

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Writing as a passionate Sydney-sider with over 60 years of living in this international city I am very sincere when I say we have been able to arrange some really great social events to support your AEGC 2018 in Sydney during February 2018. The Committee has been very upfront in focusing on networking and giving members, friends and students the opportunities to catch up, mingle, exchange ideas and concept plays over the 4 days of the Conference program. One major part has been the...

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Santos GLNG cargo

Santos and GLNG partners deliver another 15PJ into domgas market

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Santos and its GLNG partners have signd an agreement to deliver 15 petajoules of gas from its export portfolio into the Australian east coast domestic market in 2018. Santos holds a 30 per cent interest in GLNG. The Adelaide-based producer said 15 PJ of gas represented approximately 2 per cent of expected 2018 domestic demand and was enough to cover half of any shortfall that might arise under the ACCC’s high demand case for next year. Origin has agreed to purchase this gas from GLNG...

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Flow testing imminent at Po Valley’s new Italian gas well

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A new Italian gas production well for Australia’s Po Valley Energy Limited is to be flow tested this month after being successfully cased for production. Po Valley announced that it had successfully cased, perforated and completed the Podere Maiar 1dir exploration well on the Selva gas field within the Podere Gallina Exploration licence in Northern Italy. Perforations of a total of 11m were executed successfully on two identified gas reservoirs C1 and C2 in the Medium Upper Pliocene...

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W&T hits a duster in Gulf of Mexico exploration well

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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...

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WA gas report warns of declining exploration consequences

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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. APPEA Chief Operating Officer WA Steadman Ellis said there was an...

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Polarcus gets permission for seismic survey in Australia

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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...

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