Woodside is in advanced talks to buy BHP Group’s petroleum division for about A$20 billion ($14.7 billion), the Australian Financial Review (AFR) reported on Sunday, citing people familiar with the matter.
UK oil and gas firm Alpha Petroleum has been put up for sale by its private-equity backer, a news report said.
Faroe Petroleum’s future was hanging in the balance tonight after the deadline passed for a “hostile” takeover offer for the Aberdeen-headquartered oil firm.
Canadian Overseas Petroleum said it has completed the acquisition of 80% of the share capital of Essar Exploration and Production Limited in Nigeria.
Lundin Petroleum has been granted a drilling permit in the North Sea by the Norwegian Petroleum Directorate (NPD).
Atlantic Petroleum has entered into a sales and purchase agreement with M Vest Energy AS for the sale of its Norwegian assets and licenses.
Lundin Petroleum has commenced drilling of the Maligan exploration well offshore Malaysia.
The drop in global oil price has meant a decrease in Norway’s overall tax revenue since last year.
Tethys Petroleum has warned it does not have sufficient funding to meet its requirements beyond the next few months.
African Petroleum has signed a new production sharing contract with Ophir Energy covering the company’s CI-513 licence area in Cote d’Ivoire. The new contract means Ophir Energy has a 45% interest and is operator of the asset while African Petroleum holds a 45% interest and the regions National Oil company the remaining 10%. Ophir Energy will make a $16.9million contribution towards African Petroleum’s back costs in relation to the block.
Faroe Petroleum has completed the acquisition of Roc Oil which holds a 12% interest in the Enoch and Blane interests in the UK North Sea. The company said the deal, which had an initial consideration of $17million, had now been reduced to $13.7million. The Enoch field is currently suspended but is planned to come back on stream in the second quarter of 2015.
Lundin Petroleum has made a small gas discovery offshore Malaysia. The company said its subsidiary, Lundin Malaysia, made the find from the Mengkuang-1 exploration well in license PM307. The well had been targeting hydrocarbons in Miocene-aged sands 75km to the northwest of the Bertam field operated by Lundin Malaysia.
Tethys Oil said it produced more than 9,000 barrels per day from its onshore blocks in Oman last month. The company said its share of production before government take from blocks three and four amounted to 295,502 barrels of oil in total.
The UK Government made a loss from North Sea oil and gas in the first six months of this year, according to reports. According to The Herald, the revenues were more than cancelled out by repayments to producers between the months of April and September. While a total of £248million was collected from the industry in both corporation tax and petroleum revenue tax (PRT) around£287million was handed out in rebates following the downturn.
The Norwegian Petroleum Directorate (NPD) has granted Lundin Norway a drilling permit for well 7220/11-3 A. The well will be drilled from the Island Innovator facility. The drilling programme for well 7220/11-3 A relates to the drilling of an appraisal well in production licence 609.
Kea Petroleum has shut in production at its Puka site in Taranaki. The company said it had been working hard to resolve problems with the Puka-1 well, while continuing to produce from Puka-2. A spokesman said the current problem cannot be resolved with the equipment currently available.
Woodside Petroleum has signed a reconnaissance licence with the Office National des Hydrocarbures et des mines to explore a block offshore Morocco. The block, known as the Rabat Ultra Deep Offshore area, comprises a total of 36,737km2 with depths ranging from 1700m to 4400m.
The Norwegian Petroleum Directorate (NPD) has made changes to its management group. It means the NPD will have more managers and will also move from two to three management levels. Four directors report to the director general Bente Nyland, while 12 assistant directors make up the NPD’s operative management.