US upstream news
Panoro Energy drills successful appraisal well on Tortue field
Panoro has announced the successful drilling of the DTM-3 appraisal well located at the Tortue field, within the Dussafu License, offshore Gabon.
Swala announces further extension to the second and third closing datas of the Orca investment
Swala Oil & Gas (Tanzania) plc has announced that Orca Exploration Group Inc. has agreed to an additional extension to the date by which the second closing and third closing of the previously announced investment by the Company in the Orca group of up to US$130 million must be completed from 11th May 2018 to 29th June 2018.
Mayan Energy Ltd: Development of Zink Ranch Field, Oklahoma
The development programme establishes a 160 gross bpd end of 2019 target for Zink Ranch.
GlobalData: US sanctions likely to cut demand for Iranian crude and limit scope for new developments
The Trump administration has withdrawn from the nuclear accord with Iran or Joint Comprehensive Plan of Action (JCPOA) and plans to re-impose sanctions on the country.
Shale Support inks deal as exclusive provider for Northeast facility
Shale Support will work alongside Shale Rail, as a strategic partner for supply chain and transportation needs, leveraging the company’s quality service, history of safety and 20-plus years of industry expertise.
Rose Petroleum to fundraise for next stages of Paradox project
The company has raised £1 million, before expenses, through the issue of new ordinary shares of 0.1 p each in the company (Ordinary Shares) at a price of 3.25p per Ordinary Share.
RSM UK attending OTC 2018
RSM’s UK delegation is teaming up with RSM US, who are also attending and hosting an evening event, to present a strong combined presence at the conference.
BNK Petroleum achieves its best 30 day initial oil production rate of 540 BOPD from the Glenn 16-2H well
BNK Petroleum Inc. has announced that the Glenn 16-2H well (100% working interest) averaged over 630 boepd, of which 540 bbls are oil, for the last 30 days.
Rystad Energy: strong 1Q results for oilfield service sector set the tone for 2018
Oilfield service sales increased 21% on average for these three bellwether companies, while their oilfield equipment sales increased only 1%.
GlobalData: over US$142 billion will be spent on 97 upcoming oil and gas fields in North America to 2025
Oil sands projects will require US$43 billion, while the investments into heavy oil assets will require almost US$4 billion in upstream Capex by 2025.