To obtain a stake in the Gulf of Mexico Lucius project, Anadarko Petroleum has made a deal with an undisclosed entity, according to which Anadarko’s investment of 556 million dollars, which would cover the entire capital requirement up to the initial production of the Lucius project, will obtain for Anadarko a 7.2% working interest in the development and retain a 27.8% working interest when Anadarko continues as a operator.
US Seismic Systems, Inc., an Acorn Energy, Inc. company announced today it has built and shipped the world's largest commercial high temperature down-hole fiber-optic seismic array. The 40-level array is designed for monitoring wells that use the latest unconventional oil and gas extraction technique known as hydrofracking.
Manas Petroleum Corp. is pleased to provide this update on the progress of the exploration program in Mongolia, which is focused on drilling two wells in 2012, through its subsidiary Gobi Energy Partners LLC.
Samsung Heavy Industries has placed an $80 million order to procure electrical power systems, motors, and energy-efficient drives from ABB for two liquefied natural gas (LNG) carriers and five drilling vessels to be constructed at Samsung’s shipyard located in Korea.
Indigo Minerals LLC ("Indigo") today announced that it has tested a new horizontal well targeting the Cotton Valley formation in North Louisiana.
BreitBurn Energy Partners L.P. announced today that it has completed the acquisition of oil properties located in Park County in the Big Horn Basin of Wyoming for approximately $93 million from Legacy Energy, Inc., a wholly-owned subsidiary of NiMin Energy Corp, subject to post-closing adjustments. The acquisition was originally announced on April 25, 2012.
Baby All Corp. On May 17, 2012, as previously announced, Baby All Corp., a Delaware corporation, changed its name to Santa Fe Petroleum, Inc. ("Santa Fe") with the Secretary of State of the State of Delaware. The name change reflects Santa Fe's business strategy and sole focus of acquisition, exploration, production and development of oil and gas properties. Santa Fe Petroleum will now begin preparing properties for drilling.
OPEC, the Organization of the Petroleum Exporting Countries, has honored Professor Øystein Noreng from the BI Norwegian Business School with the research award 2012 for his lifetime academic work in the petroleum and energy economics field.
Nexen Inc. today announced that we have reached two major milestones in our plan to fill the Long Lake upgrader: first oil production from pad 12 and first steam into pad 13.
Given rising customer demand, Ensco plc has exercised one of two options for an additional advanced-capability DP3 ultra-deepwater drillship based on the Samsung GF12000 hull design. The vessel, ENSCO DS-9, will be the seventh Samsung DP3 drillship in the Ensco fleet, extending the benefits of Ensco's fleet standardization strategy. It will be built at the Samsung Heavy Industries, Co. Ltd. (SHI) Shipyard in South Korea, with delivery scheduled for the fourth quarter of 2014.
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