PARIS: Gabon Oil Company (GOC), the national oil company of Gabon, has announced the acquisition of Assala Energy Holdings Ltd and all of its subsidiaries (Assala) from Assala Energy Investments Ltd (Carlyle), a private equity firm. The deal, which was signed on 15 February 2024, is based on GOC’s sovereign right of pre-emption and overrides…
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Union Jack Oil signs two farm-in deals with Reach in Oklahoma
LONDON, UK: Union Jack Oil plc, a UK and USA focused onshore hydrocarbon production, development and exploration company, has announced that it has signed two farm-in agreements with Reach Oil & Gas Company Inc in Oklahoma, USA. The first deal gives Union Jack a 75% stake in a well that will test the Footwall Fold…
Longboat Energy announces material discovery at Egyptian Vulture
LONDON, UK: Longboat Energy announced a material discovery at the Egyptian Vulture exploration well in PL939 (Company 15%), the second well in its fully-funded, seven well exploration programme. The exploration well 6407/1-9 in the Norwegian Sea encountered light oil in the primary target in the Lower Cretaceous (Cenomanian) Intra-Lange Formation. Longboat Energy is the emerging…
Parkmead awarded offshore blocks in the UK 32nd Licensing Round
LONDON: Parkmead Group Plc, the independent energy group, announced it has been offered four offshore blocks and part blocks spanning three new licences in the UK 32nd Licensing Round awards. The first of these provisional licence awards covers Blocks 14/20g & 15/16g (Parkmead 50% and operator) situated in the Central North Sea, adjacent to Parkmead’s…
Pandion Energy approves the Hod development project
OSLO: The Board of Directors of Pandion Energy has approved sanctioning of the Hod development project. The project was originally scheduled for approval in March but was put on hold due to the outbreak of the COVID-19 pandemic and subsequent collapse in global demand for oil. On Monday 8 June, the Norwegian Government and the…
Panoro Energy farms into South Africa exploration license
OSLO: Panoro Energy ASA has signed a Farm Out Agreement (FOA) with a subsidiary of Africa Energy Corp. (AEC), part of the Lundin Group of Companies, which entails a wholly-owned subsidiary of Panoro acquiring a 12.5% interest in Block 2B located in the Orange Basin, offshore the west coast of South Africa. The exploration block…
Premier to acquire Andrew Area and Shearwater assets from BP
LONDON, UK: Premier Oil Plc has announced proposed acquisitions of the Andrew Area and Shearwater assets from BP for US$625 million, and an additional 25 percent interest in the Premier operated Tolmount Area from Dana for US$191 million plus contingent payments of up to US$55 million. The proposed acquisitions will be funded via a US$500…
Exploration campaigns commences at Manora Oil Field in Thailand
PERTH, AUSTRALIA: The Manora Oil Field (Northern Gulf of Thailand) Operator, Mubadala Petroleum, and Tap Oil Limited have approved the drilling of three firm exploration wells and an appraisal side-track, contingent upon exploration success. Tap Oil holds 30% interest in the oil field. Mobilisation operations commenced on 17 November 2019 with the Ensco 115 jackup…
Jadestone Energy to acquire an operated 69% interest in Maari Project for $50mn
SINGAPORE: Jadestone Energy has executed a sale and purchase agreement (SPA) with OMV New Zealand Limited, a subsidiary of OMV, to acquire an operated 69% interest in the Maari Project, shallow water offshore New Zealand for a total headline cash consideration of US$50 million, to be funded from the Company’s cash resources. Jadestone Energy is…
UKOG completes HH-2z horizontal drilling
LONDON: UK Oil & Gas PLC (UKOG) has announced the successful completion of its Horse Hill-2z (HH-2z) Portland horizontal drilling campaign. A total of approximately 2,500 ft of horizontal trajectory was drilled wholly within the Portland reservoir’s most oil productive zone or “sweet spot”, around 70 times greater exposure to the sweet-spot than seen in…
Bass Oil commences production from Bunian Field
SYDNEY: Australia’s Bass Oil Limited has announce that the Bunian 5 well has commenced production testing from the TRM 3 sandstone, one of the two productive oil reservoirs in the well. The well averaged 1128 barrels of oil per day with a two percent water cut. Production was recorded on a fully open choke with…
Panoro Energy reports 68% increase in 2P oil reserves at Dussafu
OSLO: Panoro Energy ASA has reported a 68% increase in 2P oil reserves in the Dussafu Marin Permit, offshore Gabon. Following the successful discovery and appraisal of the Hibiscus Updip well announced by Panoro on 4 October 2019, the discovered resources at Hibiscus has now been quantified and classified by independent reserves auditor Netherland, Sewell…