The Antelope-6 appraisal well on PRL 15 in Papua New Guinea has intersected the top reservoir at 2,076 m true vertical depth subsea (TVDSS), within range of the expectations of operator Total E&P PNG Ltd.’s reference case, reported license partner InterOil Corp. Source: News
Colombia’s Ecopetrol forms offshore E&P unit
Ecopetrol SA reported that its wholly owned subsidiary Hocol Petroleum Ltd. has formed a new company, Ecopetrol Costa Afuera Colombia SAS, which will be responsible for offshore exploration and production activities in Colombia. Currently, offshore E&P work is being carried out by Ecopetrol, both as operator and non-operator. Source: News
Ethanol confusion evident in debate, but do Iowans care?
Confusion over ethanol evident in the Republican presidential debate Jan. 28 makes comforting the news that Iowans show fading concern about the issue. Source: News
Chevron posts $588 million fourth-quarter loss
Chevron Corp. ended 2015 with the company’s first quarterly loss since 2002, posting full-year earnings of $4.6 billion, compared with earnings of $19.2 billion in 2014. Source: News
Chevron plans South African refinery maintenance, asset sales
Chevron South Africa (Pty.) Ltd., a subsidiary of Chevron Corp., has reported it will undertake annual routine safety and maintenance inspections at its 110,000-b/d Cape Town refinery at Milnerton, South Africa, starting in February. Source: News
MARKET WATCH: NYMEX, Brent crude oil price gains continue momentum
Light, sweet crude prices settled above $33/bbl on the New York market Jan. 28 and Brent crude oil did the same on the London market. The gains followed comments by Russian energy officials that they would talk with the Organization of Petroleum Exporting Countries next month about output. Source: News
NEB: Oil sands output gains to continue
Production from the Canadian oil sands will increase through 2040 even if pipeline capacity remains constrained, says the National Energy Board of Canada. Source: News
Walker presses ANS producers for more progress on LNG export project
Alaska Gov. Bill Walker (I) notified three Alaska North Slope oil and gas producers that he will consider other ways to generate revenue for the state if more progress is not made on reaching operating milestones for the Alaska Liquefied Natural Gas Project before the legislature completes its regular session. Source: News
PwC: US oil, gas M&A activity in 4Q lightest in 5 years
A “sharp contraction” of crude oil prices and “limited access to the capital markets” in 2015 resulted in the least fourth-quarter merger and acquisition activity in the US oil and gas industry in 5 years, according to analysis from PwC US. Source: News
Athabasca Oil enters venture with Murphy Oil for development in Alberta
Athabasca Oil Corp. has agreed with the Canadian unit of Murphy Oil Corp. to jointly develop the Duvernay and Montney in the Kaybob area in west-central Alberta. The transaction is valued at $475 million (Can.) Source: News