Endeavour International (ENDV) has announced a discovery in the West Rochelle exploration well in the North Sea. The well encountered natural gas with an oil rim in an excellent quality reservoir similar to that discovered at Rochelle. The well is being sidetracked to the north in order to further appraise the extent of reservoir.
Circle Oil (COP) has discovered gas in the CGD-11 exploration well in the Sebou Permit, Morocco. Circle tested gas in both the Main Guebbas target and the secondary Hoot zone. The well is being completed as a potential producer. The drilling rig is moving to commence drilling the third well, KSR-10, of the planned five well drilling program in the area.
In Texas, Global Petroleum (GBP) reported that the operator has finished drilling the first Eagle Ford well (Tyler Ranch EFS #1H). Strong oil and gas shows were observed throughout drilling 4,500ft horizontally within the Eagle Ford reservoir. Fracture stimulation is expected to begin in the second week of November. After this work has been completed, the well will be production tested. Global has a 7.939% working interest in the well.
Xcite Energy's (XEL) 9/3b-6 appraisal well on the Bentley field, east of the Shetland Isles, has reached target depth for the first part of the planned work programme, the pilot section of the well. The pilot section confirmed a 113ft oil column, some 40ft thicker than the 73ft prognosis and confirmed the oil water contact. Management believes that this height of oil column confirms that an upside structure is present in the eastern half of the reservoir, significantly increasing the volume of oil in place. Work has commenced on the horizontal side track which is planned to flow test the Dornoch oil column. The completion and testing of the horizontal section is expected by the end of November.
Max Petroleum (MXP) is to production test three oil bearing zones in its UTS-1 exploration well on the Uytas prospect in Block A, Kazakhstan. The test will commence in late November, meanwhile the drilling rig will move to drill the Sekir West exploration well in Block A.
In Syria, Gulfsands Petroleum's (GPX) Khurbet East-18 well to delineate the north-west flank of the Khurbet East Field, has indicated that the central crest area of the field extends in a more northward direction than previously thought. The well encountered a gross 45.8 metre column of oil bearing reservoir which was flow tested and produced at a stable rate of 2385 barrels per day of 26 degree API oil over a 6 hour period.
Gulfsands has also spud the Zahraa-1 exploration well in Block 26, Syria. The 30 million barrel Zahraa prospect is located in the far northeast portion of the Block, near the intersection of Syria's borders with Iraq and Turkey. Drilling operations are expected to take approximately 60 days days to complete.
Valiant Petroleum's (VPP) Viola North exploration well in North Sea Block 30/18b, is to be plugged and abandoned as a dry hole.
Serica Energy (SQZ) has spud the Marindan-1 well in the southern part of the Kutai PSC offshore East Kalimantan, Indonesia. The well is expected to take approximately 30 days to complete.
In the North Falkland Basin, Desire Petroleum (DES) has given several updates on the Rachel 14/15-1Z sidetrack well this week. The latest news as of Thursday was that they were pulling out of the hole ahead of logging operations. Desire Petroleums share price has been all over the place over the last few days, dropping 100 pence on the back of a dry hole rumour and then, when the share price subsequently doubled the company had to deny another rumour that it had received a takeover approach.
Still in the Falkland Islands, Rockhopper Exploration (RKH) has signed up another boat, this time it is sharing the vessel with Desire Petroleum to carry out a 3D seismic survey over their licences. Last week Rockhopper and Argos Resources agreed to jointly conduct 3D seimic surveys on their mutually adjacent acreage.
Leni Gas & Oil (LGO), announced preliminary results from its Hontomin-2 extended well test program in northern Spain. Oil production has commenced at a restricted rate and will be increased over the next few weeks to a stabilized test rate. Flowrates as at 26 October 2010 were 167 bpd with a 67% watercut and oil of 32 degrees API. On completion of the test program in January 2011 the licence will be considered for conversion to a production concession together with a production sidetrack on the Hontomin-2 well.
Matra Petroleum (MTA) has received a Competent Persons Report on the Sokolovskoe field in Russia. The report has designated Contingent Recoverable Resources (2C) of 15.1 million barrels and and Unrisked additional Prospective Recoverable Resource of up to 84 million barrels. Matra continues to struggle to isolate water ingress at Well-12 and has decided to sidetrack the well 50 metres from the current bottom hole location to avoid penetrating the water bearing formations. On well-13, Matra believes the water influx problem can be resolved through cementing.
Chariot Oil & Gas (CHAR) has received an independent Competent Person's Report which reports a gross P50 unrisked prospective resource volumes of 9.03 billion barrels with a gross mean unrisked prospective resource volumes of 10.08 billion barrels for its 4 licences offshore Namibia. A gross mean risked resource potential of 1.13 billion bbls (net 0.85 billion bbls) was identified.
Plexus Holdings (POS) has expanded its geographic reach to Australasia with a contract for the supply, to Apache Energy, of Plexus' POS-GRIP wellhead systems, casing support and services. Apache will utilise Plexus' 15,000 psi high pressure and high temperature POS-GRIP wellhead technology and mudline casing support equipment for oil and gas exploration offshore NW Australia.
Providence Resources (PVR) has been offered its first petroleum exploration licence in Northern Ireland, over Rathlin Island. The initial licence term is for five years with a decision on a well commitment required within three years.
The results of the UK 26th Seaward Licensing Round were announced this week. Valiant Petroleum (VPP) claimed the biggest haul of blocks awarded, all located in and around its core areas of focus, while EnCore Oil (EO.) increased its acreage positions close to its Catcher and Tudor Rose discoveries. Nautical Petroleum (NPE) picked up blocks close to its Kraken and Mariner discoveries and Xcite Energy (XEL) won blocks close to its Bentley heavy oil field. Faroe Petroleum (FPM) was pleased with its award of blocks in the Atlantic Margin "in strategically significant locations". Serica Energy (SQZ) was awarded two blocks adjacent to the Otter field in the northern North Sea.
Faroe Petroleum (FPM) is to acquire an 18.0% interest in the Blane oil field in the North Sea, from ENI for a consideration of £60 million. Blane is a low-cost producing field with average gross production rates during September 2010 of 11,964 barrels of oil equivalent per day. As part of the deal Faroe Petroleum has agreed to assign to ENI under a farm out agreement, on promoted terms, a 20% interest in the Atlantic Margin Rannva exploration licences which straddle the UK/Faroe border and Faroe Petroleum says contain two giant prospects.
Faroe Petroleum has also increased its stake in the producing Schooner gas field to 6.96%.
Gold Oil (GOO) said it has received farm-in interest in relation to Block Z34, located in the offshore Talara Basin, Peru and proposes to acquire 3D in 2011 with its chosen farm-in partner(s). Gold Oil added that it had requested extra time to respod to a series of questions from government departments in order to finalise its environmental management plan approval process, but the request had been turned down.
