Fredriksenin perskärpänen pörrää taas

Greek Shipper Economou Orders LNG Carriers, TradeWinds Reports

George Economou, a Greek shipowner, ordered four liquefied natural gas carriers worth $848 million from a South Korean shipyard, TradeWinds reported...

Jorgos tuli Fredriksenin perässä poraukseen ja nyt LNG:n rahtaukseen.

Economou näyttää värkänneen Ocean Rigille jenkki-listauksen OceanFreightin kautta. Tässäkin näyttää olevan taustalla kusetus.

Viikolla tuli pitkästä aikaa vilkaistua mitä ovat Odinin rahastot syöneet ja hämmästyksekseni huomasin että sekä DRYS että Ocean Rig ovat Odin Maritimin 10 suurimman omistuksen joukossa.

SWN & Brown dense lime

CC-skriptistä poimittu:

The Brown Dense is a nonconventional oil reservoir found in Southern Arkansas and Northern Louisiana. It ranges in vertical depths from 8,000 to 11,000 feet. It's laterally extensive over a large area, and ranging in thickness from 300 to 530 feet. Our investment in undeveloped acreage in the play area to date is approximately $150 million or $326 per acre, and our leases currently have an 82% average net revenue interest.

We will begin by targeting the higher gravity oil window under our lease, which we believe could be 40% to 55% API range. This formation is below the Haynesville and Smackover and is an upper Jurassic-aged, kerogen-rich, carbonate source rock, which covers an area from Texas to Florida.

We extensively reviewed the Brown Dense across the entire region and have indications that the right mix of reservoir depth, thickness, porosity, matrix permeability, sealing formations, thermal maturity and oil characteristics are found in the area of Southern Arkansas and Northern Louisiana. Porosity* ranges from 3% to 10% in the area, and anticipated pressure gradient is 0.62 psi per foot, so it is overpressured.

Estimated matrix for permeability based on various methods of measurement ranges from less than 0.1 millidarcy to more than 1 millidarcy. Both porosity and matric permeability are comparable to metrics reported in the Eagle Ford play in South Texas.

We have assembled a log data on 1,145 wells covered in 5 states to evaluate the Brown Dense, have acquired over 6,000 miles of 2-D seismic and have gathered and analyzed rock data from cores and cuttings from 70 wells that penetrated the Brown Dense zone. At this point, we currently have more data about the Brown Dense than we had on the Fayetteville Shale when it was announced.

We hope to receive a permit to drill our first well in Columbia County, Arkansas in August. And will spud later in the third quarter. This well is planned to drill to a vertical depth of approximately 8,900 feet and has a planned horizontal lateral length of 3,500 feet. This well will be extensively logged and a full course of plan over the entire Brown Dense interval before the well is completed. The completed well cost of this first well is approximately $10 million, which will have more than $2 million of science work.

Our second well is planned to spud later this year, with a total vertical depth of approximately 10,700 feet and a 6,000-foot horizontal lateral in Claiborne Parish, Louisiana. We plan to drill up to 10 wells in 2012, as we continue to test this concept. This formation serves several large conventional oil and gas fields, and our hope is to use horizontal drilling technology to unlock at least as much potential. Positive test results could significantly increase our activity in this play over the next several years.

We're also working on other new ventures, we'll provide more updates on those in the future.

*=oma korjaus SA:n tekstiin.

Murphyn ABB-kommentteja

T-skripti:

In Southern Alberta, our actual Bakken appraisal program continues, with 4 wells drilled and the fifth expected to spud shortly. Two wells are now producing in line with expectations, a third well is under evaluation and the fourth well is awaiting completion. For us, certainly, identification of the sweet spots, where we can expect a tight well to produce 200 barrels of oil a day with an EUR [ph] somewhere in the 200,000 to 250,000 barrels is key, and our program is focused to that end. We now plan to drill up to 8 wells this year.

Q&A:

Evan Calio - Morgan Stanley

There's been a lot of activity also with the juniors in Canada and kind of unnamed major partners. Any comments on how your footprint or attractiveness of terms you're seeing for land positions kind of in and around your Exshaw/Upper Bakken stuff?

David Wood

I would say, as far as the Exshaw goes, I'm reasonably pleased at the very beginning of a play. I don't think we know where the sweet spots are yet. Hence we've stepped up our program this year from 6 wells to 8 wells. We've got a couple of wells that kind of fit what we thought they should be. We've got one well that we're looking at. We've got another well to bring on, and we got a drill [ph] in another part of our acreage footprint that we don't know anything about yet. So early days, some encouragement. We clearly need to get our cost down. I would still pick up acreage up there, but I think we need to get a little technically smarter to understand where the sweet spots are going to be.

Vähän tahmealta vaikuttaa. Tai sitten taktikoivat. Rajan eteläpuolen näkymät vaikuttavat paremmilta.

Q1'11 iQ

Bryan Mills Iradesson tämän vuoden ensimmäinen iQ raportti on ollut tarjolla viikon verran. Tuossa siis kanadalaisien arvostustasoja ja tunnuslukuja.

LPR askartelee Pohjoisessa

Forest Oilin spin-offilla Lone Pine Res:lla(NYSE/TSX: LPR) on shale-prospekti Northwest Territoriessa. Tuskin etsivät kuivaa kaasua noin pohjoisesta.

GDP & TMS

Lähde: Goodrich Petroleum

Yhtiöllä oikeuksia alueella 75,000 eekkeriä nettona.

Encanan ensimmäinen TMS-kaivo testauksessa

393 boeta(95% öljyä) näyttäisi olevan ensimmäisen päivän IP, ellei öljy sitten ole frakkaus-nestettä(vesipohjainen näyttää kylläkin olevan).

The Mississippi Oil & Gas Board report shows these results for the Encana Board of Education 1H well:
-Date of 1st production: 6/15/11
-Producing method: flowing
-Date of test: 6/18/11
-Hours tested: 24
-Choke size: 12/64
-Oil produced: 373 bbls
-Gas produced: 119 mcf (flared)
-Water produced: 534 bbls
-Gas/Oil Ratio: 319
-Tubing pressure: n/a
-Casing pressure: 1770 psi

Formation Top - Tuscaloosa Marine Shale: 11815

Frac Job:
-12717-12938: 6 SPF .44" Titan, 292,000# Prop & 10,333 bbls SW
-12433-12643: 6 SPF .44" Titan, 214,000# Prop & 10,793 bbls SW
-12212-12381: 6 SPF .44" Titan, 210,000# Prop & 11,075 bbls SW
-11977-12114: 6 SPF .44" Titan, 144,000# Prop & 6,782 bbls SW

Lähde(lähde blogin kommentitkin kannattaa tarkastaa, jos aihe kiinnostaa).

Tämä näyttäisi olevan ehta juttu tämä TMS.

Lisäys 1.8.2011
Ehta geologian näkökulmasta, mutta kaupallisuus on sitten toinen asia. Sabine Upliftista johtuen TMS on syvemmällä kuin Eagle Ford, joten kaivot ovat kalliimpia. 9-10 miljoonan dollarin hintaisilla kaivoilla pitäisi päästä yli 500,000 tynnyrin EUR:n, jotta tämä olisi kannattavaa.

FX Energy presentaatio

RGT -40%

RGT EXPLORATION UPDATE - 27 JULY 2011

Rocksource ASA (OSE: RGT) has now announced the
drilling results from three of its five, 2011
exploration wells. Initial results show one discovery
(Norvarg) and two dry holes at wells drilled to test
unproven petroleum systems (Breiflabb and Kora).
Wells four and five in the 2011 programme are
expected to spud in September.

Löytö Norvarg on kaasua ja voi olla että se ei ole kaupallinen.

Kora
The Kora-1 well in offshore Senegal and Guinea Bissau
was on XX July announced as unsuccessful. The Kora
prospect had an EM anomaly interpreted by Rocksource
to be associated with hydrocarbons with an
approximate 50 per cent chance of success. The
prospect was found dry and the strong EM anomaly is
believed to have been caused by a combination of
lithologies (rock types) which have combined to
produce unusually high resistivity. Although these
lithologies were not specifically predicted pre-
drill, given the lack of well control in this
frontier area it was accounted for in Rocksource's
prospect risking. Rocksource recently farmed down
half of its interest in AGC Profond receiving as an
initial consideration, USD 28 million in promoted
contribution towards past expenditure and the costs
of the Kora-1 well.

Korkean riskin paperi ja siksi paino salkussa on vain reilun prosentin verran. Mitään tunnereaktiota heikkoihin tuloksiin ja pudotukseen ei ole, mikä viittaisi siihen on tullut kasvettua sijoittajana. Pitää tehdä tarkempi arvio jatkosta loppuviikosta. Tuo Koran tulos viittaisi siihen että tekniikka ei toimi. Ainakaan kunnolla.

The Adventures of Talisman Terry, the Fracosaurus

Tulosta tästä puuhastelua sadepäiviksi(värityskirjanen aukeaa kuvasta).

ZEX tiedottaa

Zodiac Provides Update on Operations in California

CALGARY, ALBERTA – Zodiac Exploration Inc. (“Zodiac” or the “Company”) (TSX VENTURE: ZEX)announces that based on further analysis of engineering and geological data from its 4-9 vertical test well, the Company has upgraded the Kreyenhagen formation to a primary target.

As previously reported, following a 24 ton fracture stimulation over a 30 foot siltstone interval in the Kreyenhagen formation, the 4-9 well flowed 29° API oil at an average rate of 24 bbls/day over a 9 day period prior to the well being shut in for a build up test. The pressure test analysis indicated significant skin (formation) damage of approximately +13, which the Company believes can be addressed by optimizing stimulation procedures in future wells. The Inflow Performance Relationship (IPR) derived from the well test analysis demonstrated that a rate of 120 bbls per day could potentially be achieved with a pressure drawdown of 60% and the removal of formation damage from +13 to 0. The reservoir is overpressured with 12,800 psi reservoir pressure and a gradient of approximately 0.9 psi per foot. Porosity and permeability values derived from well log analysis indicate effective siltstone porosity ranging between 10 to 13%, with permeability ranging between 0.4 and 3.0 millidarcies.

120 tynnyrin teoreettinen kapasiteetti olisi kai ok. Jos horisontaali tuottaisi kertaa vertikaalin verran niin 350-400 tynnyrin IP(30 päivää) olisi todennäköinen. Kaivot ovat kyllä melkoisen kalliita(horisontaalit liki $10 miljoonaa kehitysvaiheessakin?) Itse näen ZEX:ssä saman ongelman kuin Veconossa eli kaivojen tuotto on paljolti luonnollisista murtumista riippuvainen. Jos noita murtumia pystyy kartoittamaan riittävän tarkasti mikroseismisellä niin homma voi edetä, mutta käsittääkseni kovinkaan hyvin noita ei pysty kartoittamaan.
Maassa on kuitenkin hyvin paljon öljyä mikä on erinomainen lähtökohta.


Odotetun synkkiä pilviä horisontissa:

Fracking: Monterey shale exploration draws protest

"Når du produserer for fem dollar og selger for 100, så blir det ganske bra"

Otsikossa ohjeet miljoonien tekoon.

Mukava teksti videon kerävä Lundin Petroleumista ja Lundineista:
Norsk oljefest for svensk familie

Yhtiön luvut Norjan laatalta ovat varsin vaikuttavia, toivottavasti osumatarkkuus säilyy yhtä hyvänä:


Lisäsin taas viime viikolla LUPEa. Libyan tilanne näyttää pitkittyvän ja tuotanto(ja vienti) pysynee olemattomana, mikä taas tukee brenttua.

Neste palaamassa E&P:n?

Upstreamista:

Nupeng president, Achese Igwe, was quoted by Nigerian newspaper Vanguard as saying: “We condemn and frown at the sale of oil blocks by Shell Petroleum Development Company (SPDC) to the highest bidders, Neste oil, Con oil etc without following the due process.”

Ainoa viittaus tähän kauppaan löytyy täältä. Tässä lienee kysymys jonkinlaisesta väärinkäsityksestä. Tai sitten joku toinen taho käyttää Neste Oil-nimeäluvatta tai luvalla(ehkä kyseessä on norjalainen yhtiö Neste=seuraava)

ECA & TMS, LNG/CNG

Q2 CC-transkripti:

Additionally, we have captured more than 250,000 net acres in the Tuscaloosa marine shale located in Mississippi and Louisiana. We will drill our first horizontal well starting next month. Although unproven today, we see this opportunity as a large unconventional oil- and liquids-rich natural gas resource play.

---------------------------------------------------------------------

Mark Gilman - The Benchmark Company, LLC

Okay. Jeff, it's been suggested by some that the Tuscaloosa marine shale is stratigraphically equivalent to the Eagle Ford. Do you share those views? Or do you see it a little bit differently?

Jeff Wojahn

I've been told by our geologist not to say that the way you had described it because I'm not an expert in the regional geology. But from what I understand, the Eagle Ford is separated by kind of the Sabine platform uplift. And really, although it looks laterally equivalent, it is a different type of play than the Eagle Ford. So hopefully, I didn't offend any geologists by the way I described it.

Mark Gilman - The Benchmark Company, LLC

Could you elaborate what you mean by that, Jeff, in terms of different type of play?

Jeff Wojahn

Well, it's a reservoir that has some silt and sand content in it versus the Eagle Ford, which is a clean shale.

Mark Gilman - The Benchmark Company, LLC

Okay. Could you give us just a little bit of an idea what the acreage costs were for your entry into the Tuscaloosa and the additional Duvernay acreage, which you acquired?

Jeff Wojahn

Sure. I'll start with the Tuscaloosa. This is a play that we entered very early for very low costs. We have a number of options and commitments, so I can't get specific on the range. But it ranges $42,000 to $50,000 area, somewhere between $40 million and $50 million.

----------------------------------------------------------------------

We also entered into an agreement to be the sole supplier of liquefied natural gas to a fleet of 200 LNG, heavy-duty trucks in Louisiana through our mobile LNG fueling station. In addition, we opened 2 compressed natural gas fleet fueling stations in Colorado and British Columbia. The cost advantage and environmental benefits of natural gas create a compelling case for Encana and others to adopt natural gas as a transportation fuel of choice in North America.

----------------------------------------------------------------------

Carrie Tait - National Post

Okay. You mentioned LNG fueling in Louisiana and I think in Colorado. Is this a business that you want to grow, get into?

Randall Eresman

We're not sure if we want to do this for ourselves, but we know we need to show leadership. And we want to make sure that LNG is used in transportation in North America, and we're basically walking the talk.

Carrie Tait - National Post

How do you decide if it's something that you want to do?

Randall Eresman

We will have to look at the competitiveness of the financial model. And it's going to take us a little while before we fully understand that. We know that there are going to be opportunities in and around our areas of operation that will probably make sense for us to be in some portion of that value chain. We're just going to have to figure out over time what that's going to be. In the meantime, we're investing on a variety of these kind of things in the order of $50 million to $100 million a year.

Carrie Tait - National Post

Are they making money?

Randall Eresman

I'm going to turn that over to Eric Marsh.

Eric Marsh

Yes. I think the answer is that the natural gas stations that we have, we actually have 5 operating, and 4 of them actually can -- will make money on a monthly basis. But what really dictates the money that you make is the throughput. So as -- if you're breaking even today and the number of vehicles that you have in that area grow, they begin to become profitable. But yes, that's our plan, is to be profitable on every CNG station that we make.

Randall Eresman

Carrie, the benefit for the users, those that convert their vehicles to natural gas, in the same way where we converted our drilling rigs to natural gas or starting to look at our frac-ing equipment in natural gas, financial benefits to us are huge. It really is just getting more places where people can fill up their vehicles and more opportunities for fleets to convert that is required, and I guess more people aware of what the huge price advantages or cost advantages to moving towards using more natural gas in the transportation sector.

NE Q2/11

Liikevaihto $589.55MM(-14%)
Liiketoiminnan rahnavirta $155.56MM(-70%)
Liikevoitto $79.04MM (-70%)
Liikevoittomarginaali 13.5%
Netto tulos $54.17MM (-75%)
EPS $0.21

P/E (TTM)31.88

Tase
Varat
Likvidit $977.49MM
Kaikki $ 12,438.23MM

Velat
Lyhytaikaiset $626.55MM
Kaikki $4,617.87MM

Omapääoma $7,221.71MM

P/B 1.31

Näkymistä:

"Offshore demand continues to build in most regions around the world, supporting expectations for gradually improving utilization and dayrates among our jackups and floating rigs," said Williams. He added, "Additional client demand for jackups is visible in Mexico and the Middle East. In the deepwater sector, Petrobras continues to tender for dynamically positioned and moored rigs for offshore Brazil with contract lengths of three to five years and we continue to see client interest in some of the emerging deepwater frontiers."

Tiedote

Viisi alusta oli osan neljänneksestä poissa toiminnasta ja tienaamasta teknisien ongelmien vuoksi, mikä on yksi osatekijä heikon näköiseen tulokseen. Koko laivaston käyttöaste laski 80%->70%.
Näkymät ovat kohtuullisen positiiviset.

Kuinka suuri on Doig Inga-Fireweed-Red Creekissä?

CHINOOK ENERGY ANNOUNCES OIL DISCOVERY AT RED CREEK IN
NORTHEAST BC

CALGARY, Alberta, July 18, 2011 – Chinook Energy Inc. (CKE-TSX) ("Chinook") announced today the results from the drilling and initial commercial completion operation from its Doig oil and natural gas discovery drilled at
15-1-86-22W6M in the Red Creek area of northeastern British Columbia.
The well was drilled to a total depth of 2,880 metres, including a 1,000 metre horizontal section, and rig released on May 9, 2011. The 10-stage completion was flowed back over an eight day period in early June. Average production
rates for the last three days, after recovery of volumes pumped with the frac, were 450 barrels of oil per day and 4.2 mmcf per day of natural gas. Liquids recoverable from the natural gas are expected to average approximately 16 bbls/mmcf and the H2S concentration of the natural gas is approximately 10%. Chinook has a 74.55% operated working interest in the well and holds 12,800 acres gross (9,600 net) on the prospect. Facility construction is underway and the well is expected to commence production prior to September 1, 2011.
Drilling plans for the balance of 2011 and winter 2012 are currently underway.

Tämä on muutama township etelään Artekin ja Celticin kondensaattirikkaista kaivoista.

Kaasu on aika hapanta mikä ei ole ollenkaan hyvä asia.

TT:llä on näyttäisi olevan eekkeitä lähistöllä(s.22).

Isoja ja Pieniä Uutisia

Crescent Point Energy Announces Position in Emerging Beaverhill Lake Light Oil Resource Play

Over the past 18 months and through a series of joint ventures, farm-ins and Crown land sales, Crescent Point has accumulated more than 380 (165 net) sections of land highly prospective for the Beaverhill Lake zone in the Swan Hills area. The majority of the lands were acquired in a joint venture with Coral Hill Energy Ltd. ("Coral Hill") through Crown sales by way of exploration licences, which have a nine-year development term with minimal drilling requirements to hold the lands.

ja

Crescent Point is also pleased to announce that it has acquired ownership of 8,000,000 common shares of Arcan Resources Ltd. ("Arcan"), which is a leading Beaverhill Lake producer, at an effective price of $5.08 per Arcan share. These shares, which represent 9% of the issued and outstanding common shares of Arcan, were acquired through the facilities of the TSX Venture Exchange. As a result of the acquisition of the Arcan shares, Crescent Point now has ownership and control over 16,750,000 common shares of Arcan, representing approximately 19% of the issued and outstanding common shares of Arcan, as of the date hereof, on a non-diluted basis.

---*****---

PetroFrontier Corp. Acknowledges Acquisition of Its Common Shares by Heritage Oil Plc

Heritagella 10% PFC:n osakkeista.

---*****---

BHP Billiton and Petrohawk-Energy Corporation Announce Merger Agreement

Kova preemio(kylläkin reilusti alle vuoden öljyn ennätyshintojen aiheuttaman 2008 ATH:n, joka oli HK:n tapauksessa selvä kupla, kun tuo tämä oli tuolloinkin selvästi kaasupainoinen) ja puhtaana käteisenä. HK:n omapääoma on 3.6 miljardia dollaria, josta BHP nyt maksaa 12 miljardia(kertoo kai jotain P/B:n käyttökelpoisuudesta tällä toimialalla).

---*****---

Keskiviikkona oli taas Albertassa PNG-oikeuksia tarjolla ja ostajiakin löytyi. Muutaman pläntin hinnat Etelä-Albertassa(korkein lihavoitu):

A0006 (4-24-009) 100% WINDFALL RESOURCES LTD. 14,197,524.48 8,216.16
A0007 (4-26-009) 100% SANDSTONE LAND & MINERAL COMPANY LT D. 878,930.97 709.25
A0008 (4-26-009) 100% SCOTT LAND & LEASE LTD. 2,512,502.40 2,617.19
A0009 (4-26-010) 100% LANDSOLUTIONS GP INC. 1,860,003.84 1,210.94
A0010 (4-26-010) 100% SANDSTONE LAND & MINERAL COMPANY LT D. 649,996.80 507.81
A0011 (4-27-010) 100% LANDSOLUTIONS GP INC. 3,507,496.32 2,382.81

Blogin sisältö on valahtanut copy-pasteksi, mutta yritän lähiaikoina saada jotain omaakin sisältöä.

Lupellla putki päällä

12 July 2011

LUNDIN PETROLEUM DISCOVERS GAS IN ITS FIRST MALAYSIAN EXPLORATION WELL

Lundin Petroleum AB (Lundin Petroleum) is pleased to announce that it has discovered gas in the Tarap-1 well that was drilled in Block SB303, offshore Sabah, East Malaysia.

Tarap-1 was drilled with the Offshore Courageous rig in a water depth of approximately 70 meters. The well was directionally drilled to a measured depth of 2,675 metres.

The Tarap discovery is a stratigrahic trap and the well encountered gas in each of the 5 independently sealed stacked Miocene sands targeted. Gross total vertical pay thickness for the sands encountered is approximately 150 metres. An extensive data acquisition program was completed including pressure measurements, sampling and a mini flow test in selected zones.

The data recovered from the well will be analysed further in order to determine a range of resource estimates...

Bruttoahan tuossa on mukavasti, mutta paljonko kaasulla täytettyä kiveä on nettona jää nähtäväksi. Yhtiön presentaatio sanoo(s.36) että pre-drill arvio oli 51 miljoonaa boeta bruttona(37 nettona Lupelle). Minulla ei ole aavistustakaan paljonko maakaasu maksaa Malesiassa, mutta arvioisin että löydön arvo jää alle $200 miljoonaan($5-6 per boe) tässä vaiheessa, jos koko on arvion luokkaa. Etäisyyttä kuivalle maalle näyttäisi olevan noin 40 kilometria, joten voi olla mahdollista että tätä ei kehitetä, jos lähettyviltä ei löydy lisää kaasukenttiä.

Jackupeille tarvetta preerialla

Flooding engulfs oil-patch producers

Farms aren't the only businesses in the province suffering from the worst spring flooding in recent memory, especially in the southeastern part of the province where agriculture has taken second place to oil production.

The Bakken oil field in the Estevan-Weyburn area has become the toast of North America's oil industry, employing thousands of people. Flooding there has delayed work by months as drilling sites remain submerged, forcing companies to shut down production and lay off workers...

(yllä oleva kuva on Zargonin presentaatiosta)

Täsmäklassikko:

(Oikeus)taloustieteellinen näkemys Obaman öljydumppaukseen

Oikeustaloustieteen ykkösnimien näkemyksiä:

Fluctuations in Oil Prices, Speculation, and Strategic Reserves-Becker

Releasing Oil from Reserves—Posner

RPL

Renegade Petroleum Ltd. Announces First Quarter 2011 Results and Provides
Operational Update

North Dakota
In the fourth quarter of 2010, Renegade, along with its partners, drilled a wildcat vertical test well to the Bakken Formation in Renville County North Dakota. The vertical stratigraphic test was then kicked off horizontally and drilled into the Bakken Formation. The subsequent fracture completion was performed in May, 2011. This well is currently being equipped to begin production testing in early July, 2011 to be followed by a 30-60 day production test. Renegade and its partners plan to drill a second Bakken horizontal test well in the area later this year. Should these wells prove to be capable of producing oil in commercial quantities, Renegade and its partners plan to further delineate the potential new light oil resource fairway throughout 2012. Renegade and its partners currently hold 46,568 gross (23,284 net) undeveloped acres across this prospective Bakken fairway.

Yhtiön netto-eekkerit Pohjois-Dakotassa ovat kasvaneet sitten toukokuun reilulla neljänneksellä 18,084 eekkeristä 23,234 eekkeriin. Merkitseekö tämä jotain?