Oil Search completes acquisition of Pac LNG' s interest in PRL 15

Oil Search reported completion of its acquisition of the relevant Pac LNG Group Co holding a 22.835% gross interest in Petroleum Retention License 15 (PRL 15), containing the Elk/Antelope gas discoveries in Papua New Guinea. The purchase was funded by a placement of 149.39 million fully-paid, ordinary shares to Papua New Guinea, which was completed.

Peter Botten, Oil Search' s Managing Director said Oil Search' s entry into the PRL 15 JV provides the company with the opportunity to play a key role in determining the optimal commercialization route for the Elk/Antelope resource, which is the largest undeveloped gas resource in Papua New Guinea.

Providing useful resources, articles and writings on crude oil, other petroleum products, energy and gas. By O'Niel Petroserve Nigeria Ltd, online.

Halliburton introduces well design, placement solution

Halliburton launched recently its Drilling Engineering Solutions (DES) service. As drilling complexities increase, the need for comprehensive solutions continues to grow. DES provides fully integrated, custom-engineered solutions to optimize well design and placement - rom high volume wells to complex environments.

DES combines expertise and experience across multiple Halliburton product service lines: Sperry Drilling, Baroid and Halliburton Drill Bits and Services, and is powered by Landmark Software. The DrillingXpert proprietary solution delivery platform allows DES teams to design an entire performance drilling system on a single platform.

The DrillingXpert platform is built on Landmark’s DecisionSpace Well Engineering software and the Engineer’s Data Model (EDM) application, a well data management solution. Utilizing the widely deployed DecisionSpace platform allows DES to exchange drilling technical information readily and more efficiently.

The core of the DES solution delivery is the Drilling Engineering Solution Centers (DESCs), which provide engineering, monitoring and support.

Providing useful resources, articles and writings on crude oil, other petroleum products, energy and gas. By O'Niel Petroserve Nigeria Ltd, online.

Europa announces renewal of Tarbes Val d’Adour permit, onshore France

Europa Oil & Gas has announced the renewal of its 100% owned Tarbes Val d’Adour permit, in the proven Aquitaine basin, onshore France.

The permit has been extended until January 2015. Tarbes Val d' Adour contains several oil accumulations that were previously licensed by Elf but were abandoned in 1985 due to a combination of technical issues and low oil prices. Two fields, Jacque and Osmets, were drilled using vertical wells which generated modest production levels.

Hugh Mackay, CEO of Europa, said, “Thanks to previous operators recovering modest quantities of oil from two fields on the permit, Tarbes is an appraisal rather than an exploration project.  While not on the same scale as our potential company-making Bearn des Gaves permit onshore France and our two Kosmos Energy operated licences offshore Ireland, Tarbes offers a relatively low cost business development opportunity. In tandem with our on-going farm-out discussions for the Bearn des Gaves permit, we will now look to secure a partner with whom we can look to advance Tarbes in the limited time available.

“Elsewhere in our portfolio, we remain on course to drill two wells onshore UK in 2014, starting with the Wressle prospect in the first half of the year and Kiln Lane in the second, each with a one in three chance of success. Offshore Ireland, we expect to complete the interpretation of the 3D seismic survey acquired in Q3 2013 by the end of June 2014, at which time decisions will be made in respect of drilling the Kiernan and Mullen prospects. This is an exciting period for the company and I look forward to providing further updates on our progress in due course.”

Providing useful resources, articles and writings on crude oil, other petroleum products, energy and gas. By O'Niel Petroserve Nigeria Ltd, online.