Pakistani exploration well flows 16 MMcfd of gas

Petroleum Exploration (Pvt.) Ltd. (PEL), a privately owned Pakistani company, has identified a hydrocarbon-bearing zone in the Lower Guru formation with its Aminah-1 exploration well drilled on Badin South block in the Sajjawal (Sindh) district. Source: News

Hundreds of disposal wells covered in Oklahoma earthquake response plan

More than 400 saltwater disposal wells covering 5,000 sq miles of central Oklahoma are part of an expanded earthquake response plan to deal with the state’s rise in earthquake activity. Disposal wells in the deep Arbuckle formation have been associated with induced seismicity. Source: News

India seen setting oil-demand growth pace

India is poised to replace China as the world’s center of oil-demand growth, according to authors of a study published by the Oxford Institute for Energy Studies. Source: News

Woodside terminates Balnaves FPSO contract

Woodside Petroleum Ltd., Perth, has terminated its contract with Malaysia’s Bumi Armada for the charter of the Armada Claire floating production, storage, and offloading vessel, which is stationed in Balnaves oil field in the Carnarvon basin offshore northwest Australia. Source: News

Santos completes sale of interest in Kipper field

Santos Ltd., Adelaide, has completed the sale of its 35% interest in Kipper gas-condensate field in offshore Gippsland basin to Mitsui E&P Australia for $520 million (Aus.). Source: News

Statoil cancels contract for COSL Innovator

Statoil ASA has terminated its contract with COSL Offshore Management AS for the COSL Innovator mobile drilling rig, which has been operating in Troll field west of Bergen in the North Sea. Source: News

MARKET WATCH: NYMEX, Brent oil prices each jump by more than $1/bbl

Light, sweet crude oil prices for April delivery on the New York market climbed $1.35 to settle at nearly $36/bbl on Mar. 4, marking a third consecutive week for price gains. The number of active US oil rigs dropped to the lowest level since 2009. Source: News