Exploration

CAMAC Energy has acquired Allied Energy Resources oil mining lease for the Oyo field offshore Nigeria.

US gas prices are increasing but in the long-term such high prices are unsustainable, as there is likely to be continued investment in exploiting new resources which will bring prices down and demand is likely to fall if the American economy does not pick up.

Eurasia Drilling Company Limited (Eurasia) and Schlumberger have announced that they have signed a Letter of Intent to sell and purchase each other’s drilling and service assets, while entering a strategic alliance in the CIS.

DNV has been contracted by the joint investigation team (JIT) of the departments of the Interior and Homeland Security for the forensic examination of the blowout preventer (BOP) and lower marine riser package that was fitted to the Macondo well in the Gulf of Mexico.

Spectrum ASB, the Australian subsidiary of Spectrum, has released a new large scale 3D multi-client seismic merge dataset, which provides a high resolution overview of the Carnarvon Basin.

The Gulf of Mexico disaster has inadvertently led to increased investment in West African exploration ventures, but is enough funding being spent on safety?

The upstream oil and gas sector is faced with “challenges of enormous scale” that the global industry must tackle if it is to provide safe, smart and sustainable supplies, while also continuing to explore and develop new territories and frontiers.

Upstream players are calling for a simpler and more unified computing environment to help them manage information overload, according to a Microsoft Corp. and Accenture survey.

Ingrain, a digital rock physics company, has announced the opening of its newest digital rock physics lab, located in Mussafah, Abu Dhabi.

Baker Hughes has acquired Meyer & Associates, a leading petroleum industry software developer.

Polarcus Limited has announced that the company is upgrading Polarcus Samur from the current six streamer arrangement to an eight streamer configuration.

Saudi Aramco, Saudi Arabia’s national oil company, has announced that it has huge reserves of unconventional gas in the form of shale gas, which could double its proved gas reserves.

Two notes from the American Petroleum Institute regarding new oil and natural gas industry taxes.

Shell oilsands expansion is now onstream.

Senate Majority Leader Harry Reid said this week that the Senate will not pass legislation this year that imposes a price on carbon.