HUSKY HZ RAINBOW 13-13-110-7
PRODUCTION - NPW (C)
Well ID: 00/13-13-110-07W6/0
Fluid: CRUDE OIL
Licensee: HUSKY OIL OPERATIONS LIMITED
License Date: 27-Feb-2012
Projected Depth: 3,592.0 m
Field: RAINBOW
Terminating Zone: WOODBEND GRP
Seadrill will in its fourth quarter 2011 make a US$463 million non cash impairment charge on its investment in Archer Limited ("Archer"). The value of the equity investment will be written down to market value as of December 31, 2011 reflecting a share price of NOK16.1 per share at that date. For the full year of 2011, the net effect of Seadrill's investment in Archer including deconsolidation profits of US$540 million, equity pick-up and the impairment charge is a net profit contribution of US$44 million.
At December 31, 2011, proved plus probable reserves totaled 51.5 million barrels
We had drilled our Bromelia-1 prospect to 16,919 feet, 100 feet above the primary objective formation, when during an operation to remove the bottom-hole assembly from the well, the drill pipe parted resulting in a blockage of the well bore. After making attempts to recover the pipe and assessing the
condition of the well bore, we determined a side-track well was necessary. We side-tracked the well at 12,000 feet and are currently drilling at 13,672 feet. We expect to reach our target depth and have initial drilling results in April.
Feb 20 (Reuters) - U.S. oil group Exxon Mobil sought to cool predictions of a European shale gas revolution, saying commercial production was at least five years away and dismissed forecasts offered by other industry players as "highly speculative".
Kevin Biddle, Exxon's exploration director for Europe, also downplayed the prospects for Poland -- believed by many to have the continent's largest reserves -- leading the shale gas charge, saying on Monday that Germany was more likely to be the first shale gas producer.
An offshore Black Sea well jointly owned by ExxonMobil and OMV's Romanian arm Petrom has made a potentially significant discovery, according to the Austrian player
Operated by ExxonMobil on a 50% interest, the Domino-1 well is the first deep water exploration well in Romanian waters and is located in the Neptun Block, 170 kilometres offshore.
OMV said the exploration well encountered 70.7 metres of net gas pay, resulting in a preliminary estimate for the accumulation ranging from 1.5 trillion to 3 trillion cubic feet.
Speaking in Vienna as OMV announced its annual results, chief executive Gerhard Roiss told reporters that if confirmed, the find could be the largest in the company’s history, Reuters reported.
"The Board of Directors will not propose a dividend at the 2012 Annual General Meeting of Shareholders"
• $40.50 per boe of gross proved plus probable reserves (excluding future development capital of
$67 million)
• 7 times annualized current cash flow
• 5.5% of December 2011 Company production
February 16, 2012 CALGARY, ALBERTA. Crescent Point Energy Corp. (“Crescent Point” or the “Company”) (TSX: CPG) is pleased to announce that it has entered into an agreement (the “Bakken Acquisition”) with PetroBakken Energy Ltd. (“PetroBakken”), a publicly traded oil and gas producer, to acquire certain assets in the proposed waterflood area of the Viewfield Bakken light oil resource play in southeast Saskatchewan (the “Bakken Waterflood Assets”) for cash consideration of $427 million. The assets are primarily in the Company’s proposed waterflood units and include more than 2,900 boe/d of production and more than 25 net sections of land in the Viewfield Bakken resource play. The Bakken Acquisition is expected to help accelerate Crescent Point’s waterflood program in the Viewfield Bakken resource play.
Feb 15/12 Feb 14/12 Skeith, Donald Richard Direct Ownership Common Shares 10 - Acquisition in the public market 6,000 $0.810
Feb 14/12 Feb 9/12 Driver, Mahrookh Direct Ownership Common Shares 10 - Disposition in the public market -15,000 $0.820
"HOUSTON, Feb. 16, 2012 /PRNewswire/ -- Apache Corporation (NYSE, Nasdaq: APA) today reported encouraging results in its exploratory drilling program in the emerging Whittenburg Basin play in the Texas Panhandle. Five of six initial vertical tests were completed as oil producers in the Canyon Wash interval.
Apache has leased or purchased approximately 96,000 net acres in the Bivins Ranch area, a 200-square-mile block in Hartley, Oldham, Potter and Moore counties, and operates all leases, most with 73.5-percent working interests. The block is immediately south of the prolific Panhandle Dolomite field and north of two 25-well Canyon Wash fields."
On the Coiron Amargo Block, the Company has commenced production testing the CAS X-1 vertical exploration well from the Vaca Muerta formation. Over a 48 hour period, the well flowed 314 barrels of oil per day of 32 - 33 degree API light crude oil on a restricted 2 mm (1/12 inch) choke at flowing pressures of 2,500 psi and above. The choke setting, restricted during the initial stages of flowback, will be increased as the Company continues to flow test the well. A large three stage hydraulic fracture stimulation of the Vaca Muerta formation was completed as programmed in January 2012 utilizing over 1 million pounds of high strength sintered bauxite. The fracture stimulation is the first independent frac of the Vaca Muerta shale to be undertaken on land adjacent to the Loma La Lata field where YPF SA previously announced a major oil discovery1 in the Vaca Muerta formation.
On a debt-adjusted per share basis, Progress' P+P reserves grew by 29 percent year over year
On a petroleum product basis, natural gas P+P reserves increased by 26 percent, natural gas liquids P+P reserves increased by 58 percent and crude oil P+P reserves declined 3 percent
"The Qualifying Transaction involved the merger of Noravena and 3MV by way of 3-corner amalgamation between 3MV and a wholly-owned subsidiary of Noravena, Noravena Acquisition Corporation ("Noravena Sub"), pursuant to the definitive amalgamation agreement among Noravena, Noravena Sub and 3MV. All of the issued and outstanding shares of 3MV were acquired on the basis of 20.27 pre-consolidation common shares of Noravena for each one (1) common share of 3MV. Noravena has changed its name to "3MV Energy Corp." (the "Name Change")"
"3MV is a junior E&P company focused on low-risk light oil resource plays in the Kindersley area of West Central Saskatchewan. 3MV targets drilling of the Lower Cretaceous Albian age Viking sandstone. The Viking formation has an aerial extent encompassing much of Saskatchewan and Alberta. Production from vertical wells in the Viking first occurred in the late 1950's. The 3MV management team is the same group that advanced the Viking as a resource play by drilling the first horizontal multi-stage technology in the Kindersley area."
Investment Industry Regulatory Organization of Canada Trading Halt ? EPS
Monday, February 06, 2012
TORONTO, Feb. 6, 2012 /CNW/ - The following issues have been halted by IIROC:
Company: Epsilon Energy Ltd.
TSX Symbol: EPS
Reason: Pending News
CALGARY, ALBERTA--(Marketwire - Jan. 25, 2012) - CanElson Drilling Inc. ("CanElson" or the "Company") (TSX:CDI) announced today that it has a patent pending for the fueling of mobile equipment with stranded or flared natural gas. Stranded gas is defined as natural gas that is not being moved from the well to market due to a lack of infrastructure. CanElson has tested and evaluated the technology to utilize trucked Compressed Natural Gas ("CNG") on its mechanical drilling rigs. Initial tests have been very positive and indicate strong economics to support the next phase of development which includes implementing the technology on four of the Company's drilling rigs located in the Saskatchewan Bakken resource play during the second quarter of 2012. This next phase of development will implement the delivery of gas directly to the drilling rigs using mobile Gas Transport Modules ("GTM's"). In the third and fourth quarters CanElson expects to expand the utilization of the technology into North Dakota and the Permian Basin of west Texas.
Bi-Fuel is a proven technology, consisting of CNG injected into the inlet air of a diesel engine. The natural gas can replace up to 60 - 70% of the diesel fuel when the engine is under load. Further savings are possible in winter because a rig boiler can be fired on 100% CNG, and there are other mobile diesel engine applications (e.g. fracture stimulation equipment). Using heating value, the current diesel equivalent value of CNG is approximately $30 per thousand cubic feet (mcf). By displacing a portion of diesel fuel use from its drilling rigs with CNG, there is a significant economic and environmental opportunity for the Company as well as its customers and the communities where the rigs work...
