SapCrest, Kencana and Petrofac in JV to develop Berantai

Sapura Crest Petroleum (SapCrest), Kencana Petroleum and Petrofac Energy Developments, a unit of London-listed Petrofac, has entered into a joint venture (JV) to develop and operate the Berantai field located 150km offshore Terengganu.
A risk service contract was signed by Petronas and the operating parties to carry out the development and production of petroleum resources from the Berantai field while a joint operating agreement was also signed between the operating parties.
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Source: The Star

Carbon Energy seeks power plant approval

Carbon Energy Ltd is confident of gaining environmental approval from the Queensland government to continue development of its Bloodwood Creek pilot-scale power plant site between Dalby and Chinchilla.
Carbon Energy said on Monday that it had been notified by the Queensland Department of Environment and Resource Management (DERM) of an extension to the date for a final decision on the company's environmental authorities to February 11, 2011.
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Source: Nine MSN

ONGC says Cairn needs its consent for going ahead with Vedanta

State-owned ONGC said on Sunday that UK’s Cairn energy needs the Indian exploration major’s consent for the proposed $9.6 billion majority stake sale in Cairn India to Vedanta Resources and that all disputes could be resolved through a trilateral talk involving ONGC, Cairn and the government.
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Source: Financial Express

WestSide Corporation Limited Updates On Expansion Exploration Drilling Of Meridian SeamGas Reserves In The Bowen Basin

As Operator of the Meridian SeamGas CSG gas fields, WestSide Corporation Ltd is pleased to advise that drilling has commenced on the MER11V pilot production well in PL 94 in the Bowen Basin near Moura.
MER11V spudded at 16:30 hours on 27 January 2011 and was drilling ahead at 163 metres this morning. Dominion Drilling's DR02 rig will drill the well to a planned target depth of 1,333 metres to test for gas-bearing coal seams in the deeper part of the Meridian field.
The well is the fifth in an exploration program designed to increase the Meridian SeamGas joint venture's gross proved and probable (2P) reserves by up to 200 petajoules.
The MER02V appraisal which reached its target depth of 618 metres on January 25, 2011 intersected the targeted Baralaba Coal Measures and Kaloola Formation with total net coal measured exceeding 19 metres.
IFO testing is being planned on the new upper seams encountered in this well which will then be cased as a future producer, based on historical data from the known producing seams alone.
WestSide will issue regular updates as and when appropriate as the reserves expansion exploration program progresses.
Source: Press release

OPEC to discuss oil policy February 22 in Riyadh

OPEC ministers will discuss oil output policy on the sidelines of an international energy conference in Saudi Arabia on February 22, an OPEC delegate said.
The Organization of the Petroleum Exporting Countries is under pressure to raise output and rein in oil prices now near $100 a barrel.
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Source: Reuters

Chesapeake Energy Corporation and CNOOC Limited announce Niobrara-Focused DJ Basin and Powder River Basin Project Cooperation Agreement

Chesapeake Energy Corporation and CNOOC Limited today announced the execution of an agreement whereby CNOOC International Limited, a wholly-owned subsidiary of CNOOC Limited, will purchase 33.3% undivided interest in Chesapeake’s 800,000 net oil and natural gas leasehold acres in the Denver-Julesburg (DJ) and Powder River Basins in northeast Colorado and southeast Wyoming. The consideration for the transaction will be $570 million in cash at closing. In addition, CNOOC Limited has agreed to fund 66.7% of Chesapeake’s share of drilling and completion costs until an additional $697 million has been paid, which Chesapeake expects to occur by year-end 2014. Closing of the transaction is anticipated in the first quarter of 2011.
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Source: Your Oil and Gas News

TNK-BP Billionaires Consider Dividend Halt as Dispute Escalates

BP Plc’s billionaire partners in the TNK-BP oil venture may try to stop $1.8 billion in dividend payments as a dispute about the U.K. explorer’s alliance with Russia’s biggest oil company worsens, a person with knowledge of the matter said.
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Source: Bloomberg

Talisman resumes drilling

Calgary's Talisman Energy Inc. suspended all "fracking" operations for about eight days across North America this month after what it described as "a well-control incident" in Pennsylvania.
Talisman spokeswoman Phoebe Buckland said from Calgary Thursday that the company halted all its fracking operations after "a water-based fluid release" at its Pennsylvania well and notified the Pennsylvania Department of Environmental Protection.
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Source: The Vancouver Sun

DNO reports a working interest (WI) production of 20,885 bopd in December and 16,252 bopd for the full fourth quarter

The average realized oil price on the NE production in the fourth quarter was USD 54 per barrel.
Local sales volumes in Kurdistan have further increased in January and the total WI production in January is expected to be around or above 28,000 bopd.
Yemen production DNO's WI production in Yemen in December 2010 was 6,281 bopd and the NE production was 3,939 bopd. In the fourth quarter of 2010, DNO’s WI production in Yemen was 6,156 bopd and the NE production was 3,872 bopd. 
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Source: Your Oil and Gas News

Rig Counts Jump: Producers step up drilling across North America

According to the weekly rig report from oilfield services firm Baker Hughes Inc., the number of rotary rigs drilling in the US and Canada increased by 35 rigs this week.
In the US, there are 1,732 rigs drilling, which is an increase of 19 rigs for the week and 415 rigs year over year. Specifically, there are two more inland water rigs, one less offshore rig, and 18 more land rigs working in the US.
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Source: Penn Energy