"Occidental Petroleum has made a significant discovery of oil and gas reserves in Kern County, California.
Occidental believes there are between 150 million and 250 million gross barrels of oil equivalent reserves within the outlined area where Oxy has drilled six wells to date to delineate the discovery.
The multi-pay zone discovery area, whose areal geological extent is still being defined, has both conventional and unconventional pay zones, the company said in a statement..."
Semmoista. Ivanhoe Energy ilmoitti pari päivää sitten myyneensä Amerikan-toiminnot National Fuel Gasille. Nuo toiminnot sisälsivät pienimuotoista tuontantoa ja exploration-maata Kaliforniassa, samassa Kern Countyssa, jossa tuo Oxyn löydös on.
Alla kaappaus koskien Kaliforniaa Oxyn toukokuisesta presentaatiosta.
2 comments:
Petroleum Geo Services published their quarterly results today. Nice results..
Th cash from operations was stronger than I expected. Onshore seismic is a dead weight, as it has been in recent years. It generates revenue, but no cash. You can't sell it because there are no buyers.
Order intake seems have bottomed in May. Considering the debt PGS is loaded with, the value of the order book is getting dangerously low. Seismic is an esential part of hydrocarbon discovery process,so the contracts will start flowing in eventually.
PGS was in great condition before the Arrow fuckup.
Schlumberger Q2 report on seismic:
"At WesternGeco, there was some recovery in Multiclient sales both in North America and overseas although
this, together with increased activity in Land, was offset by weaker Marine revenue. Marine pricing continued to
decline due to excess capacity in the market. Several new marine and land contracts were booked during the
quarter giving better visibility on the next few months however multiclient sales remain difficult to forecast until
there is better visibility on year-end oil prices."
http://phx.corporate-ir.net/External.File?item=UGFyZW50SUQ9MTA5NTN8Q2hpbGRJRD0tMXxUeXBlPTM=&t=1
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