Red Wolf acquires assets in Oklahoma plays
The assets are located in the SCOOP, STACK and Merge plays as well as the broader Anadarko Basin.
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The assets are located in the SCOOP, STACK and Merge plays as well as the broader Anadarko Basin.
The Merak-1 well is in 755 m of water in the North El Arish concession, also known as Block 6.
The Dinkov and Nyarmeyskoye fields' recoverable gas reserves total 390.7 billion m3 and 120.8 billion m2 respectively.
The winning companies offered bids totalling US$724 million, the government said in official statements, and won the rights to explore for up to 13 years in areas of the South Atlantic.
The company's interest has been sold to the existing partners in the Block 5 exploration licence, subsidiaries of Murphy Oil Corporation, Wintershall Dea and Petronas.
The partnership aims to acquire large, high-margin oil and gas production and development assets across the Lower 48 states of the US.
The presence of gas clouds has been used as an effective exploration tool in prolific basins worldwide, contributing to the discovery of significant amounts of oil.
Talon now holds 100% interests in EnCounter’s exploration licences in the UK North Sea.
The new discovery, in Block 15/06, is estimated to contain up to 250 million bbls of light oil in place.
The Blackrock exploration well is located in the West of Shetland.
Rystad Energy, the independent energy research and consultancy, has analysed the historic investments and oilfield service purchases of the world’s 50 000 oil and gas fields.
The number of drilled but uncompleted wells in seven key oil and natural gas production regions in the United States has increased over the last two years, according to well counts in the EIA’s drilling productivity report.