TAG' s Cheal E6 well intersects oil and gas bearing sands VANCOUVER, Canada TAG Oil has successfully drilled the Cheal E JV 6 (Cheal E6) well, located in the onshore Taranaki basin of New Zealand to a total depth of 1,939
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Wednesday, 26 November 2014
Tuesday, 25 November 2014
Genel CEO sees merger shakeout among Kurdistan oil producers
ISTANBUL, Turkey (Bloomberg) -- The number of oil producers in Kurdistan will slump by three-quarters in five years with the biggest in the industry taking control in the region, according to Genel Energy Plc CEO Tony Hayward. “It’s likely that we’ll end up with, perhaps, five or six of the largest companies operating, with Genel, Exxon, Chevron ending up as major operators,” Hayward said in a Nov. 21 interview during the Atlantic Council conference in Istanbul. “It’s what happens in most hydrocarbon provinces.”
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Russian oil-production cuts to support OPEC seen as unlikely
VIENNA, Austria (Bloomberg) -- Each time oil takes a dive, the idea of Russia allying with OPEC to shore up prices gets an airing. It happened in the months after 9/11 and again during the 2008 financial crisis. Now it’s back on the agenda. Russia’s top two oil officials are in Vienna to meet OPEC nations before this week’s meeting maps out the group’s response to this year’s tumble in prices.
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Canadian oil-sands industry’s expansion wavers with $75/bbl crude
CALGARY, Alberta (Bloomberg) -- The Canadian oil-sands frenzy that led to $265 billion of investments in less than a decade won’t immediately stop with $75 crude. Two years from now is another matter. Oil-sands projects are multibillion-dollar investments made upfront to allow many years of output, unlike competing U.S. shale wells that require constant injections of capital. It’s future expansion that’s at risk.
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Beach Energy looks at selling Egyptian assets to focus on Australia
SYDNEY (Bloomberg) -- Beach Energy Ltd. is considering selling its holdings in Egypt as the company focuses on Australia, where it’s exploring with Chevron Corp. The decision on what to do with the assets, which include a gas project that’s forecast to begin output in the first quarter of 2015, will likely be made in the first half of next year, Managing Director Reg Nelson said Nov. 25 in an interview.
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