US upstream news

Panoro has announced the successful drilling of the DTM-3 appraisal well located at the Tortue field, within the Dussafu License, offshore Gabon.

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.

The development programme establishes a 160 gross bpd end of 2019 target for Zink Ranch.

The Trump administration has withdrawn from the nuclear accord with Iran or Joint Comprehensive Plan of Action (JCPOA) and plans to re-impose sanctions on the country.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 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.

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’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 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.

Oilfield service sales increased 21% on average for these three bellwether companies, while their oilfield equipment sales increased only 1%.

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.