Dart Energy Limited Signs New Coal Bed Methane Production Sharing Contract in Indonesia

Global coal bed methane (CBM) company Dart Energy Limited today announced the signing of a CBM production sharing contract (PSC) in relation to the Muralim block (formerly known as the Kebur block) in South Sumatra, Indonesia.
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Source: Press release

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Indonesia awards three oil, gas blocks to investors

Indonesia has awarded three oil 
and gas blocks to several local and foreign firms including Lundin Petroleum and Salamander Energy , the energy and mineral resources ministry said on Monday. 
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Source: Reuters

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Nigeria signs two crude-for-product oil swap deals

Nigeria has concluded two annual deals exchanging crude for oil products with commodities trader Trafigura and Ivorian refiner SIR that will cover nearly half of the west African country's fuel imports, trade sources said.
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Source: Reuters

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Watchdog calls for more transparent Angola oil sector

The role of Angola's state-owned oil firm, Sonangol should be scaled back and an independent regulator created to monitor Angola's energy industry, a corruption watchdog said.
London-based Global Witness called on President Jose Dos Santos' government to reduce the influence Sonangol wields in the southern African nation, and allow it to concentrate on generating income for the state from oil and gas.
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Source: Reuters

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Horizon Oil Spuds Stanley-2 Appraisal/Developmentwell in PNG

Horizon Oil Limited advises that the Stanley-2 well was spudded yesterday, 5 December 2010, by its wholly owned subsidiary, Horizon Oil (Papua) Limited.
The Stanley-2 well is located in the PRL 4 licence, approximately 100 km south of the Ok Tedi copper mine and 45 km north of the town of Kiunga in the Western Province of PNG.
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Source: Press release

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IVANHOE ENERGY REACHES TOTAL DEPTH AT ZITONG-1 AND YIXIN-2 WELLS IN CHINA

David Dyck, President and Chief Operating Officer of Ivanhoe Energy Inc. and Gerald Moench, President of Sunwing Energy Ltd., today announced that the Zitong-1 and Yixin-2 wells, located on the Zitong block in Southwest China have been successfully drilled to total depth. The Zitong-1 well reached total depth at 4,294 metres (14,088 feet) in the Xu2 Formation and the Yixin-2 well reached total depth at 4,165 metres (13,661 feet) in the Xu3 Formation. The wells have been logged, Zitong-1 has been cased and cemented, and Yixin-2 is currently running casing prior to cementing. A testing program for both wells is scheduled to commence in mid-December.
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Source: PR-Canada

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Ceiling rises on crude futures-Some forecasts see $120 a barrel by 2012

ING and Deutsche Bank joined several peers in raising their crude-price forecasts on Friday, with a growing number of major banks saying prices have room to rise as supplies tighten.
Analysts are calling for oil prices to gain more than previously expected over the next few years, including several forecasts for them to top $100 US a barrel.
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Source: The Province

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ExxonMobil boss' Falklands warning leaks out

A senior executive with ExxonMobil has cast doubt over potential energy reserves in the Falkland Islands, according to leaked documents obtained by the whistle-blowing website WikiLeaks.
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Source: Daily Mail

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Fugro Acquires Riise Underwater Engineering AS in Norway

Fugro has reached agreement with Riise Underwater Engineering AS to acquire the company. The acquisition is expected to take effect from the end of this year on completion of some outstanding formalities.
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Source: Press release

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Songa Offshore Announces Fleet Update

Songa Venus achieved operating efficiency of 99% during the month, the rig completed its third well for Shell Development (Australia) and the rig started its last contractual well in current program for MEO Australia during the month. The rig is thereafter scheduled to commence its 2 well firm + 1 Option well contract with Total E&P Australia mid to late December. 
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Source: Your Oil And Gas News

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Salazar says No Drilling Off Alaskan Coast, Until 2013

Interior Department Secretary Ken Salazar has announced that new new drilling leases would not be offered before 2013 in the Beaufort and Chukchi Seas, reports the Los Angles Times. Only after comprehensive studies of arctic oil spill clean up capabilities and environmental impact have been concluded on the remote north Alaskan region would new drilling be allowed.
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Source: The Lipman Times

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Aussie firm confirms huge oil deposit off Philippine island

In a regulatory filing, Australian firm Nido Petroleum explained that based on the final results of the detailed geochemical analysis conducted earlier this year, the traces of liquid hydrocarbons detected in the cores have been derived from mature oil- and gas-prone source rocks similar to the nearby Malampaya field, in Palawan, Philippines.
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Source: Press release

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Shale gas supply expected to keep US prices low in 2011

While another year of price distress awaits US producers of natural gas from shale reservoirs, technology has lowered breakeven thresholds of important plays, speakers said at an industry conference in Houston. 
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Source: Oil & Gas Jounal

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Providence increases stake in Barryroe oil discovery in the North Celtic Sea

Providence Resources has increased its equity stake in, and assumed Operatorship of, the Barryroe oil discovery in the North Celtic Sea, offshore Ireland. Separately, Providence has agreed to assign a 10% non-operated interest in the Helvick oil field, contained in Standard Exploration Licence (SEL) 2/07 in the North Celtic Sea Basin, to Lansdowne Oil and Gas. 
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Source: Press release

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Eni starts sale of TENP, Transitgas pipelines

Eni has begun the divestment process of its stakes in the companies owning TENP and Transitgas pipelines, and in the companies managing a relevant stake of the transport capacity of those pipelines. 
The disposal process forms part of the commitments adopted by Eni following the European Commission ruling on September 29, 2010. 
Financial advisors assisting Eni in the divestment process are: Rothschild and Banca IMI for the Transitgas pipeline and Rothschild and UniCredit for the TENP pipeline. 
The sale process for Eni’s stake in the Trans Austria Gasleitung GmbH (TAG) pipeline is ongoing.
Source: Press release

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Green Dragon Gas Announces USD 102.8 million Share Placement

AIM listed Green Dragon Gas Ltd., one of the largest independent companies involved in the production of CBM gas and the distribution and sale of wholesale gas in China, is pleased to announce that it has raised USD 102.8 million (before expenses) through the issuance of 8.8 million new ordinary shares to institutional funds. The new shares were placed by CLSA Limited at USD 11.68 per share.
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Source: Press release

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Seadrill takes delivery of the West Juno jack-up rig in Singapore

Seadrill has taken delivery of the new jack-up drilling rig West Juno from Keppel FELS in Singapore.
West Juno, a sister rig to West Callisto, is the sixth Keppel FELS "B Class" rig to be  constructed for Seadrill. The rig features a 'fit for purpose' off-line pipe handling and stand building, enhanced mud systems as well as improved deck layouts and greater capacities compared to previous jack-up generations. The B Class design provides maximum uptime with reduced emissions and discharges.
Alf C Thorkildsen, Chief Executive Officer in Seadrill Management AS, says,
"We are pleased to complement our premium fleet with yet another outstanding jack-up drilling rig within budget and ahead of schedule. West Juno is the ninth jack-up rig added to the Seadrill jack-up fleet since 2008, and we are confident we will secure the rig a contract shortly."
Source: Press release

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Indonesia's Pertamina signs Natuna gas deal with ExxonMobil

Indonesia's state-owned oil and gas company Pertamina Friday signed a heads of agreement with ExxonMobil for the long-delayed and technically complex Natuna D-Alpha gas project -- which has been renamed East Natuna -- in the South China Sea.
The signing was witnessed by Indonesian Energy and Mines Minister Darwin Saleh and the ministry's oil and gas director general, Evita Legowo.
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Source: Platts

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McMoRan Updates Gulf of Mexico Exploration & Development Activities

McMoRan Exploration Co. has updated its shallow water Gulf of Mexico exploration and development activities, including in-progress drilling at three ultradeep prospects and two deep gas prospects and other activities.
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Source: Press release

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‘Energy Intelligence Top 100’ Oil Company Rankings Industry’s Center of Gravity Trending Toward Asia'

The center of the oil universe is moving steadily eastward as oil companies throughout Asia add capacity to meet the region’s growing demand for oil and natural gas. This year’s ‘Energy Intelligence Top 100: Ranking the World’s Oil Companies,’ which incorporates the Petroleum Intelligence Weekly (PIW) Top 50, leaves little doubt they will continue to surge in size and influence.
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Source: Your Oil And Gas News

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AWE’s Silvereye-1 starts drilling

AWE Limited reports that the Silvereye-1 well started drilling at 0000 hours on December 3, 2010. As at 0900 hours today, the well was at a depth of 140 metres and was circulating prior to pulling out of hole to run conductor.
Silvereye-1 is an exploration well located in the offshore Bass Basin within exploration permit T/44P. The well is located approximately 65 kilometres west of the Yolla gas platform and approximately 27 kilometres west of the Trefoil gas field.
The well is targeting gas within Paleocene and Cretaceous sands of the Eastern View Coal Measures. Silvereye-1 is designed as a deviated well to be drilled to a total measured depth of 2,400 metres.
Source: Press release 

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Teekay Plans Equity Sale To Buy Vessels

Bermuda based Teekay Offshore Partners L.P. announced on Thursday (Dec 2) that it has priced its follow-on public offering of 5,600,000 common units, representing limited partner interests, at $27.84 per unit.
Teekay Offshore has granted the underwriters a 30-day option to purchase up to an additional 840,000 units to cover over-allotments, if any. The offering is expected to close on December 8, 2010.
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Source: Bernews

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