MOL has made a new gas and condensate discovery, the company’s 13th discovery in Pakistan and the 10th in the TAL Block.
The Budapest headquartered oil and gas company said that the Mamikhel South-1 exploratory well successfully reached a total depth of 4,939m on 23 May 2020. Upon testing the well flowed gas and condensate from the Lockhart & Hangu formation at a flow rate of 6516 boepd (16.12 MMscf/d and 3240 bpd respectively), with flowing well-head pressure of 4,476...
Senex Energy Ltd (ASX: SXY) has successfully delivered a major upgrade in gas reserves which the company says builds a foundation for established and continued growth in production, earnings and cashflow.
Senex’s share price on the ASX was trading at 28c at close on 20 July, up 12% from a week earlier on and 115% up from its six-month low of 13c in the latter part of March.
In it’s June quarterly report Senex announce the following highlights:
• Fourth quarter...
Venezuela’s oil and gas sector was already caught in a vicious cycle well before the COVID-19 outbreak created a world economic crisis.
Even though there are several international companies still remaining in the country, they are not investing in any relevant manner and have minimum personnel.
GlobalData Oil & Gas Analyst Adrian Lara says it is fair to assume that, for most of these operators, the best scenario would be to wait for a change in government that could kick-start the...
Australia’s oil and gas sector has welcomed the interim report into the review of the Environment Protection and Biodiversity Conservation Act 1999, as it provides an important pathway to more efficient environmental approvals processes while ensuring protection of the environment and delivering greater certainty for future investment.
APPEA Chief Executive Andrew McConville said the recommendation for consistent national environmental standards focused on outcomes rather than process...
PGS has completed the second successful GeoStreamer X seismic survey in the Viking Graben.
PGS said the survey had been completed on time and covering all targets and fast track data would be ready in the fourth quarter with final PSDM results available in the second quarter of next year.
The Norwegian seismic company said its latest technology innovations for advanced offset and azimuth-rich data were applied in the project, which builds on the successful 2010 pilot project in the...
Warren Buffett’s Berkshire Hathaway has made its first “bargain” buy of the COVID-19 curtailed period, snapping up Dominion Energy’s gas transmission and storage assets for $US10 billion.
The New York Times’ DealBook reported that the purchase was Buffett’s biggest in four years, “putting to use some of Berkshire Hathaway’s $137 billion cash pile”.
“It will probably quell some investor anxiety about Mr Buffett’s recent drought of deal-making,” the publication...
Oil and gas junior Leigh Creek Energy has been awarded two exploration blocks in South Australia.
The Adelaide-based explorer told share holders that it had successfully won PEL 675 and PEL 676 by the Department of Energy and Mining. Both licences were released in last year’s Cooper Basin Acreage Release.
Leigh Creek said it still has to secure Native Title agreements, before which planned work programs over the next five years could commence. These include 2D and...
CGG has announced that Sercel has acquired a 34% shareholding in AMBPR, a start-up company that designs and markets autonomous robots for repairing (sanding and painting) large metallic structures, used in the maritime and energy industries.
CGG said that Sercel recognised the potential of AMBPR through Axandus, Sercel’s Industrial Accelerator program, which helps start-ups to scale up their industrial growth.
The two companies have also signed an exclusive industrial partnership...
Delfin LNG, the company driving a 13 MTPA floating LNG development in the Gulf of Mexico, is treading water in its quest to secure offtake deals for the project.
This comes after Delfin was given last year given a one-year extension from US FERC to build the facilities and its financial investment decision for the project was also deferred to 2020.
Now the company is pushing for an additional one-year extension to construct the proposed terminal with...
CGG GeoSoftware has collaborated with Alibaba Cloud to successfully deploy its suite of proprietary geoscience software solutions on the Alibaba Cloud platform.
All applications across the entire GeoSoftware portfolio also run on the Azure and AWS cloud platforms, offering “advanced capabilities in machine learning and artificial intelligence, as well as connections to Python ecosystem notebooks,” CGG said.
Alibaba Cloud, the data intelligence...