Exploration

With UK subsea exports valued at almost £5 billion, Subsea UK is encouraging British firms to set their sights on international expansion to sustain long term growth.

Hawkwood Energy, has announced that it has reached a definitive agreement for its wholly-owned subsidiary Hawkwood Energy East Texas, LLC to acquire producing and non-producing assets from subsidiaries of Halcon Resources for US$500 million.

Halcón Resources Corporation has announced that it has entered into a purchase and sale agreement with a private operator to acquire 20,748 net acres in the Southern Delaware Basin for US$705 million with a November 1, 2016 effective date.

Java Offshore Sdn Bhd has completed the acquisition of a majority stake in Asian Geos Sdn Bhd, a specialist Offshore Geotechnical and Geophysical service provider within the Asia Pacific market.

PGNiG has obtained interests in two more exploratory and production licenses in the Norwegian Sea as well its first production license in Pakistan.

The company has received a letter of award from TGS-NOPEC Geophysical Company ASA for acquiring 30 000 km2 of 3D multi-client data in Europe.

Additional content enables geoscientists to de-risk exploration and development projects and maximise ROI more efficiently than before.

Faroe Petroleum has announced that it has been awarded four new prospective exploration licences, including two operatorships, under the 2016 Norwegian APA (Awards in Pre-defined Areas) Licence Round on the Norwegian Continental Shelf.

Cairn intends to announce its preliminary results for the year to 31 December 2016 on Wednesday 8 March 2017. In advance of these results, Cairn is providing information on recent operations and guidance in respect of the Group’s trading performance in 2016.

Tullow Oil has announced that the Erut-1 well in Block 13T, Northern Kenya, has discovered a gross oil interval of 55 m with 25 m of net oil pay at a depth of 700 m. The overall oil column for the field is considered to be 100 to 125 m.

One year after the licence award Statoil has made an oil and gas discovery close to Norne estimated at between 20 and 80 million bbls.

As President Obama leaves the Oval Office on Friday, he leaves a legacy of mixed fortunes for the energy industry.

The Willow discovery wells, Tinmiaq 2 and 6, were drilled in early 2016 and encountered 72 ft and 42 ft of net pay, respectively, in the Brookian Nanushuk formation.

Aker BP ASA increases reserves and maintains good results in exploration, drilling and wells, projects and production.

Hess Corporation announced positive results from the Payara-1 well offshore Guyana, which is the second oil discovery on the Stabroek Block following the world-class Liza oil discovery in 2015.