TORC Oil & Gas Ltd. (TSX:TOG) is pleased to announce the closing of the previously announced complementary asset acquisition in southeast Saskatchewan. The strategic acquisition includes 1,120 boepd (~95% light oil and liquids) of low decline, high netback, light oil producing assets.
In conjunction with the acquisition, TORC completed an $86 million bought deal public offering and a $25 million private placement with its cornerstone investor, the Canada Pension Plan Investment Board, which both closed on August 16, 2016.
TORC has built a sustainable growth platform of light oil focused assets. The stability of the high quality, low decline, light oil assets in southeast Saskatchewan and the low risk Cardium development inventory in central Alberta, combined with exposure to the emerging light oil resource play in the Torquay/Three Forks in southeast Saskatchewan, positions TORC to provide value creation through a disciplined long term focused growth strategy with a sustainable dividend.
Titan Energy, LLC and its subsidiaries today announced that it has commenced operations as an independent developer and producer of natural gas, crude oil and natural gas liquids with operations in basins across the United States. Atlas Energy Group, LLC (OTCQX:ATLS), a Delaware limited liability company, operates the Company through a subsidiary and holds a 2% preferred member interest. Titan's shares are available to be traded regular way through the facilities of DTC and are expected to be quoted on the OTC markets in the near future.
Titan has a diverse portfolio of oil and gas assets, including over 14,000 gross wells across 17 states, which produced 223 MMcfe/d on average for the second quarter of 2016. As of July 1, 2016, Titan's estimated proved reserves totaled 1,013 Bcfe, consisting of 68% gas and 71% proved developed producing. As of July 1, 2016, Titan's reserve report estimates the present value of those reserves to be $832 million. Titan will continue to be, through its subsidiary, the leading sponsor and manager of tax-advantaged investment partnerships ('Drilling Partnerships'), through which it is able to monetize a portion of its undeveloped natural gas, crude oil, and natural gas liquids production activities.
Royale Energy, Inc. (OTCQB:ROYL) announced that it has commenced drilling the first well under its joint venture agreement covering the Rio Vista Field in the Sacramento Basin. Discovered in 1936, Rio Vista is the largest natural gas field in California. The field has produced over 3.5 TCF of natural gas. Using 3-D seismic, Royale and its partners have identified several prospective locations in the Martinez and Capay formations. The Royale CRC 8-1 will target the Martinez sand at a depth of approximately 6000'. Royale expects to reach total depth by mid-September.
Don Hosmer, President of Royale Energy said:'We are excited to begin drilling in the Rio Vista field. With natural gas prices continuing to strengthen, we believe our Rio Vista program will provide an excellent return for our shareholders and drilling investors.'
Pétrolia inc. (TSX VENTURE:PEA) has confirmed the existence of a functional oil reservoir comprised of natural fractures on the Haldimand property. In fact, the production test on Haldimand 4 allowed the natural production, without artificial aid, of high quality oil (API 53). During this test, which started May 18th and which included periods of production and stoppage, the well produced nearly 1200 barrels of light oil without a pump.
This test also allowed the collection of important data on the permeability and porosity of the formation. In fact, following this test, it was noted that the formation is not very permeable and that it is in fact a system of mixed porosity.
Thus, in order to improve the productivity of the formation, Pétrolia and its partner Québénergie are working on developing a stimulation program that would allow for optimal production of the Haldimand reservoir. This program will be presented to the Gaspé citizens' committee as well as representatives from the municipality.
来自/Offshore Energy Today 9月2日消息 编译/赵美园石油圈原创www.oilsns.com
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Norwegian oil and gas safety body, the Petroleum Safety Authority (PSA), has found a non-conformity during an audit of Statoil’s PP&A of wells at the Statfjord A field in the North Sea.
PSA said on Friday that the audit of planning and execution of permanent plugging and abandonment (PP&A) at Statfjord A was conducted between May 11 and June 10, 2016. The objective of the audit was to document that the company’s established process and plans for permanent plugging of the wells at Statfjord A comply with the regulations.
Statoil has divided wells on Statfjord A in three groups and has already plugged multiple wells in group one and two. PSA said that it found one non-conformity relating to the risk assessment for leaks from old well trajectories and that it has informed Statoil that the deadline to report on how the non-conformity will be dealt with is September 22.
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Iran is ready to support any decision to help restore balance to the oil market after it regains its pre-sanctions market share. Iran, Opec's third largest producer, has been sending positive signals that it may support joint action to prop up the oil market, potentially aiding efforts to revive a global deal on freezing production levels.
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来自/Natural Gas Europe 9月2日消息 编译/孔艳坤 石油圈原创www.oilsns.com
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Three majors in their spheres – Russia state Rosneft, the UK's BP and US Schlumberger – have agreed to collaborate on seismic research and development, they said in a joint statement September 2.The agreements were signed at the Eastern Economic Forum (EEF) in Vladivostok.BP told NGW that it could not put a dollar figure on the planned operation as the investments will be on a project by project basis.Under the terms of the agreements, Rosneft will join as an equal partner in BP’s ongoing project with Schlumberger’s seismic business, WesternGeco, to develop cableless onshore seismic acquisition technology.The project envisages an initial two-year period to complete the development of a seismic acquisition system. BP and Rosneft will have preferential access to this technology for an initial period, after which Schlumberger will have the exclusive rights to market the system.
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来自/Natural Gas Europe 9月3日消息 编译/孔艳坤 石油圈原创www.oilsns.com
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Dutch Vopak and Belgian shipowner Exmar announced September 2 that they are in talks to explore the possibility of an acquisition of Exmar's share in its floating LNG storage and regasification units (FSRU) business by Vopak. Vopak said it considers FSRUs as a way to serve its existing customers, who require ready-to-go solutions to access growing LNG import markets.It already counts LNG as one of its strategic focus areas and jointly owns and operates two land-based LNG terminals: Gate at Rotterdam (with Gasunie), and the TLA terminal in Altamira (with Spain's Enagas) in eastern Mexico. Exmar, active in LNG shipping for over 35 years, is currently co-owner and or operator of ten FSRUs, and has one FSRU and one floating liquefaction (FLNG) facility under construction.
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来自/Offshore Energy Today 9月2日消息 编译/赵美园石油圈原创www.oilsns.com
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Dutch dredging and energy services giant Boskalis in July said it would reduce its fleet and cut around 650 jobs globally, citing difficult market conditions. However, Dutch maritime union Nautilus /FNV Waterbouw, backed by The International Transport Workers’ Federation, is now launching what its says is a fight to stop Boskalis from “sacking skilled seafarers and downgrading the quality of jobs.” The company plans to cut 650 jobs worldwide, including 150 in the Netherlands, and scrap 24 ships.
According to the unions, in the Netherlands, Fairmount Marine — a subsidiary of Boskalis — is attempting to replace permanent ships’ officers with lower paid nationals by outsourcing its entire ship management and crewing to Anglo Eastern. So far Boskalis and Fairmount have refused requests from Nautilus/FNV Waterbouw to see the financial data that the company says justifies its plan, the union says.
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Serinus Energy Inc. (TSX:SEN)(WARSAW:SEN) today announced changes to its Board of Directors.
Mr. Stephen Akerfeldt and Mr. Michael McVea have both resigned from the Board with immediate effect. The Board will move expeditiously to evaluate and select potential replacements, and anticipates that these positions will be filled on a timely basis.
Helmut Langanger, Serinus' Chairman of the Board, expressed appreciation and gratitude to Mr. Akerfeldt and Mr. McVea for their long service to the Company. Both have served on and/or chaired various committees and their experience and counsel has been of great value and will be missed.
印度尼西亚上游油气与电力公司Andalas Energy and Power Plc近日与PT Pertamina (Persero)签署协议，将建立一个合作开发与指导委员会，以实现印尼Pertamina区块边际气田的快速商业化。该协议的签署表明Andalas在与世界一流公司进行合作以及实施企业战略方面取得了关键性的进展。作为印尼的国家能源公司，全球财富500强Pertamina在该国的能源产业领域占有无与伦比的位置。
Andalas Energy and Power Plc, the AIM listed Indonesian focused upstream oil and gas and power company (AIM: ADL), has signed an agreement with PT Pertamina (Persero) to establish a joint working and steering committee with the objective to fast-track commercialisation of marginal gas fields within Pertamina's acreage in Indonesia. The execution of this Agreement represents substantial progress by Andalas in the implementation of its gas-to-power strategy with a world-class partner. Pertamina, listed in the global Fortune 500, is Indonesia's national energy company and holds an unrivalled position within the country's energy industry.
This Agreement is in line with Andalas' plan to utilise its team's expertise and local knowledge to make a significant contribution at the local level towards fulfilling the Government of Indonesia's goal of reducing the country's power shortfall. Indonesia is seeking to increase electricity capacity by 35,000 Megawatts ('MW') by 2019.
Bankers Petroleum Ltd. (TSX: BNK, AIM: BNK) is pleased to announce the signing of a conditional domestic offtake crude oil sales agreement with Ionian Refining and Trading Co. - IRTC SH.A. ('IRTC'). The agreement will become effective upon receipt by Bankers of the Albanian Government's approval of the Company's proposed drilling program for the fourth quarter of 2016 and in respect of amendments to lifting procedures between the Company and Albpetrol Sh.A for handling of Albpetrol's share of volumes from the Patos-Marinza oilfield.
Once effective, Bankers may sell up to 65% of its crude oil production under the agreement pursuant to which the Company will receive payment security in advance of crude deliveries. In accordance with the agreement, deliveries will be made from October 1, 2016 through to December 31, 2017.
Pioneer Natural Resources Company (NYSE:PXD) today announced that the Company closed the previously announced acquisition of approximately 28,000 net acres in the Midland Basin from Devon Energy for $435 million, before normal closing adjustments.The acquired acreage is located in Martin, Midland, Upton, Reagan, Glasscock, Andrews, Dawson, Gaines and Howard counties. Current net production is approximately 1,400 barrels of oil equivalent per day (BOEPD), with oil comprising approximately 65% of the production. Substantially all of the acreage is held by production.
Substantially all of the 28,000 net acres is located in the core of the Midland Basin, with significant portions of the acreage acquired offsetting existing Pioneer acreage. Of the core acreage acquired, approximately 15,000 net acres are located in the Sale Ranch area in Martin County and northern Midland County where Pioneer has drilled its most productive Wolfcamp B wells. Pioneer expects to utilize three horizontal rigs to drill the newly added Sale Ranch area locations. The Company will immediately begin the title work, permitting process and facility construction in preparation for the expected initial production from these locations during the first half of 2017.
Strad Energy Services Ltd. (TSX:SDY) is pleased to announce the successful completion of its strategic acquisition of Redneck Oilfield Services Ltd. and Raptor Oilfield Services Ltd. following overwhelming shareholder approval at a special meeting of Strad shareholders this morning. The details of this transaction were previously announced in a press release on July 13, 2016.
Strad's Chief Executive Officer, Andy Pernal, noted, 'We are very excited about the Redneck and Raptor teams joining Strad. As companies, we share the same values around striving to exceed customer expectations. We are stronger together and now operate one of the newest, largest and most diverse fleets of rental equipment in the Deep Basin.'
In connection with the completion of the Acquisition, the Company is pleased to announce the appointment of Mr. Lyle Wood to Strad's Board of Directors. Mr. Wood is the founder and former President of Redneck and Strad is pleased to have him join the Board as well as the Strad management team. The Company also announces effective today, that Mr. James McCallum is resigning from Strad's Board of Directors to pursue new career opportunities.
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