Second DST Test Successfully Completes Lengo Appraisal

AWE Limited reported that a second successful drill stem test was conducted at the Lengo-2 appraisal well that is situated in the Bulu Production Sharing Contract offshore East Java, Indonesia. The test achieved a maximum gas flow rate of 21.2 million standard cubic feet per day (MMcf/d).

AWE, a partner on the field, reported that two further cores were cut in the Kujung I reservoir from 2,485 to 2,571 feet, recovering an estimated 79 feet of carbonate Kujung I reservoir formation. Gas samples were collected and a final result of the compositional analysis from both DST tests is expected in coming weeks.

"The results from the two DSTs at Lengo-2, combined with the data we have previously acquired from the Lengo-1 well, will be used by the Joint Venture as the basis for evaluating the future commercial development potential of the Lengo field," said Bruce Clement, AWE's managing director in a statement. "The growing domestic energy market in East Java is an attractive destination for this gas resource, should it prove commercial."

The Randolph Yost (300' ILC) jackup is drilling the appraisal well to a total depth of about 2,717 feet. Upon completion of the logging program, the well will be plugged and abandoned as planned.

KrisEnergy Satria Limited operates the license with a 42.5 percent stake. Partners include AWE Limited (42.5%), PT Satria Energindo (10%) and PT. Satria Wijaya Kusuma (5%).

With more than 10 years of journalism experience, Robin Dupre specializes in the offshore sector of the oil and gas industry. Email Robin at rdupre@rigzone.com.

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Second DST Test Successfully Completes Lengo Appraisal

AWE Limited reported that a second successful drill stem test was conducted at the Lengo-2 appraisal well that is situated in the Bulu Production Sharing Contract offshore East Java, Indonesia. The test achieved a maximum gas flow rate of 21.2 million standard cubic feet per day (MMcf/d).

AWE, a partner on the field, reported that two further cores were cut in the Kujung I reservoir from 2,485 to 2,571 feet, recovering an estimated 79 feet of carbonate Kujung I reservoir formation. Gas samples were collected and a final result of the compositional analysis from both DST tests is expected in coming weeks.

"The results from the two DSTs at Lengo-2, combined with the data we have previously acquired from the Lengo-1 well, will be used by the Joint Venture as the basis for evaluating the future commercial development potential of the Lengo field," said Bruce Clement, AWE's managing director in a statement. "The growing domestic energy market in East Java is an attractive destination for this gas resource, should it prove commercial."

The Randolph Yost (300' ILC) jackup is drilling the appraisal well to a total depth of about 2,717 feet. Upon completion of the logging program, the well will be plugged and abandoned as planned.

KrisEnergy Satria Limited operates the license with a 42.5 percent stake. Partners include AWE Limited (42.5%), PT Satria Energindo (10%) and PT. Satria Wijaya Kusuma (5%).

With more than 10 years of journalism experience, Robin Dupre specializes in the offshore sector of the oil and gas industry. Email Robin at rdupre@rigzone.com.

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Enegi Completes Acquisition of 3D Seismic over Phoenix Block

UK junior Enegi Oil reported Friday that it has completed the acquisition of 95 square miles of 3D seismic data on the Phoenix block in the UK North Sea.

Enegi will now carry out in-house interpretation, subsurface analysis and reservoir modeling to determine the full range of recoverable reserves for the Phoenix discovery. The firm said that this will incorporate analysis currently being carried out by Azimuth Limited.

Azimuth will also look at the additional exploration potential of the block under a farm-in agreement announced in February, which may lead to further development activity.

Discovered by Royal Dutch Shell in 2004, the Phoenix oil discovery is a low-relief dip closed structure that lies on the Forties-Montrose High, between the Nelson field and the Montrose field in the central North Sea. A review of the Phoenix discovery by Enegi has led to a preliminary estimate of 15 million barrels of oil in place.

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Enegi Completes Acquisition of 3D Seismic over Phoenix Block

UK junior Enegi Oil reported Friday that it has completed the acquisition of 95 square miles of 3D seismic data on the Phoenix block in the UK North Sea.

Enegi will now carry out in-house interpretation, subsurface analysis and reservoir modeling to determine the full range of recoverable reserves for the Phoenix discovery. The firm said that this will incorporate analysis currently being carried out by Azimuth Limited.

Azimuth will also look at the additional exploration potential of the block under a farm-in agreement announced in February, which may lead to further development activity.

Discovered by Royal Dutch Shell in 2004, the Phoenix oil discovery is a low-relief dip closed structure that lies on the Forties-Montrose High, between the Nelson field and the Montrose field in the central North Sea. A review of the Phoenix discovery by Enegi has led to a preliminary estimate of 15 million barrels of oil in place.

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MGM Energy Completes Ops at Canol Well

MGM Energy Corp. announced early results from its East MacKay I-78 well drilled this winter to test the Canol shale formation on MGM Energy's EL 466B in the Central Mackenzie Valley.

The East MacKay I-78 well, a vertical well, spud January 27, 2013 and reached target depth of 6,565 feet (2,001 meters) Feb. 15. Following logging, casing and the running of the completion string, the drilling rig was released Feb. 25. Drilling operations proceeded without incident and all formations were present as expected. In particular, the primary target, the Canol shale, was found between 5,968 feet and 6,296 feet (1,819 meters and 1,919 meters), and the Bluefish formation, the secondary target, was found between 6,352 and 6,421 feet (1,936 meters and 1,957 meters). Cores were taken within the Canol and Bluefish formations, as well as the upper Hume formation, immediately below the Bluefish. A full suite of electric logs was run once drilling was completed.

Testing operations on the Bluefish formation began on March 2, 2013. One zone of the Bluefish formation was fractured, using a small 20 tonne frac energized with nitrogen. The frac was successful, with emplacement of the sand. After flowing back approximately 30 percent of the frac fluid, the well ceased flowing due to lack of formation pressure. Rather than undertaking operations to resume the flow, and given the seasonal constraints of operating in the Central Mackenzie Valley, the decision was made to discontinue testing of this secondary zone to ensure sufficient time to test the primary Canol target.

Testing operations on the Canol formation began March 4. The Canol formation was fracked in three stages, with one stage having two perforation zones. Each of these fracs was again small, ranging from 23 tonnes to 35 tonnes, using a total of 2,450 barrels of frac fluid. All fracs were successful and all were energized with nitrogen. Approximately 70 percent of the frac fluid was recovered in the first five days after fracking. During that time, the well continued to clean up. Over the four day period of March 10-14, the well returned approximately 140 barrels of fluid consisting of a mixture of frac fluid, and formation hydrocarbons, the latter consisting of light, sweet, crude oil and natural gas. Throughout this period, nitrogen was used to assist in lifting fluids from the well. Because of seasonal constraints on activity, well testing operations in the Canol formation were concluded March 15 and equipment has since been demobilized. In order to obtain pressure data, gauges have been left in the hole, and are expected to be retrieved in the summer/fall of 2013.

MGM Energy also drilled, sampled and monitored three water wells in the area immediately adjacent to the I-78 well. Samples of water were taken before, during and after the fracs. The results of this monitoring are ongoing and, along with water samples, are being shared with regulators and governments.

Well operations were conducted in a remote area and in harsh weather conditions. Notwithstanding this, MGM Energy reports that no material environmental or safety incidents occurred at any stage of the project.

"We are very excited with the early results of the well," said Henry Sykes, President of MGM Energy Corp. "The results are quite consistent with our expectations. While it isn't possible to establish ultimate flow rates with a vertical well and the small fracs undertaken, at this point we've identified the presence of hydrocarbons in the Canol shale underlying our lands. One or more horizontal wells will need to be drilled to establish the best method of completing these wells and the flow parameters and, ultimately, to determine a type curve for these wells. In the near term, a great deal of work and analysis remains to be done with respect to information obtained and cores taken during the project, and that work will take some months to complete. We look forward to providing periodic updates as material information becomes available. We also look forward to working with regulators and local communities to ensure that the benefits of responsible development of the Canol shale are well understood and quantified. And finally, we wish to gratefully acknowledge the support we received from the local communities throughout our operations."

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MGM Energy Completes Ops at Canol Well

MGM Energy Corp. announced early results from its East MacKay I-78 well drilled this winter to test the Canol shale formation on MGM Energy's EL 466B in the Central Mackenzie Valley.

The East MacKay I-78 well, a vertical well, spud January 27, 2013 and reached target depth of 6,565 feet (2,001 meters) Feb. 15. Following logging, casing and the running of the completion string, the drilling rig was released Feb. 25. Drilling operations proceeded without incident and all formations were present as expected. In particular, the primary target, the Canol shale, was found between 5,968 feet and 6,296 feet (1,819 meters and 1,919 meters), and the Bluefish formation, the secondary target, was found between 6,352 and 6,421 feet (1,936 meters and 1,957 meters). Cores were taken within the Canol and Bluefish formations, as well as the upper Hume formation, immediately below the Bluefish. A full suite of electric logs was run once drilling was completed.

Testing operations on the Bluefish formation began on March 2, 2013. One zone of the Bluefish formation was fractured, using a small 20 tonne frac energized with nitrogen. The frac was successful, with emplacement of the sand. After flowing back approximately 30 percent of the frac fluid, the well ceased flowing due to lack of formation pressure. Rather than undertaking operations to resume the flow, and given the seasonal constraints of operating in the Central Mackenzie Valley, the decision was made to discontinue testing of this secondary zone to ensure sufficient time to test the primary Canol target.

Testing operations on the Canol formation began March 4. The Canol formation was fracked in three stages, with one stage having two perforation zones. Each of these fracs was again small, ranging from 23 tonnes to 35 tonnes, using a total of 2,450 barrels of frac fluid. All fracs were successful and all were energized with nitrogen. Approximately 70 percent of the frac fluid was recovered in the first five days after fracking. During that time, the well continued to clean up. Over the four day period of March 10-14, the well returned approximately 140 barrels of fluid consisting of a mixture of frac fluid, and formation hydrocarbons, the latter consisting of light, sweet, crude oil and natural gas. Throughout this period, nitrogen was used to assist in lifting fluids from the well. Because of seasonal constraints on activity, well testing operations in the Canol formation were concluded March 15 and equipment has since been demobilized. In order to obtain pressure data, gauges have been left in the hole, and are expected to be retrieved in the summer/fall of 2013.

MGM Energy also drilled, sampled and monitored three water wells in the area immediately adjacent to the I-78 well. Samples of water were taken before, during and after the fracs. The results of this monitoring are ongoing and, along with water samples, are being shared with regulators and governments.

Well operations were conducted in a remote area and in harsh weather conditions. Notwithstanding this, MGM Energy reports that no material environmental or safety incidents occurred at any stage of the project.

"We are very excited with the early results of the well," said Henry Sykes, President of MGM Energy Corp. "The results are quite consistent with our expectations. While it isn't possible to establish ultimate flow rates with a vertical well and the small fracs undertaken, at this point we've identified the presence of hydrocarbons in the Canol shale underlying our lands. One or more horizontal wells will need to be drilled to establish the best method of completing these wells and the flow parameters and, ultimately, to determine a type curve for these wells. In the near term, a great deal of work and analysis remains to be done with respect to information obtained and cores taken during the project, and that work will take some months to complete. We look forward to providing periodic updates as material information becomes available. We also look forward to working with regulators and local communities to ensure that the benefits of responsible development of the Canol shale are well understood and quantified. And finally, we wish to gratefully acknowledge the support we received from the local communities throughout our operations."

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Edge Completes Second Saskatchewan Well in Spring Campaign

Edge Resources Inc. has finished drilling the second well of the Company's Spring drilling program in Primate, Saskatchewan. The well was successfully drilled and cased without incident and is now being prepared for production.

The horizontal well was drilled into a new formation and cased with a slotted liner in 1,624 feet (495 meters) of horizontal pay. Completion and equipping operations will commence immediately and continue during breakup. The rig was released to an all-weather rack site as Spring break-up conditions would not allow the rig to be moved to another drilling location.

Brad Nichol, President and CEO of Edge commented, "We are very pleased that the drilling of our first horizontal well in a new horizon has gone so smoothly and quickly. I must credit our operations and drilling team who utilized their many years of experience and planned this operation meticulously. With continuous oil shows throughout the entire 495 meters of horizontal leg, we are very keen to start producing this well. Given that breakup is almost upon us, we are taking the extra step of building a permanent road so that the well can produce without interruption throughout break-up."

"We anticipate that successful production testing will support several additional horizontal drilling locations, specifically targeting the new horizon. We certainly have the undeveloped land-base to support a large program and are eager to get started," Nichol added.

The Company has a 100% working interest in 20 sections (12,800 acres) of land in Primate, Saskatchewan.

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Providence Completes Sale of UK Onshore Assets

Irish explorer Providence Resources announced Friday that it has closed the sale of its UK onshore assets to IGas Energy for $66 million.

The UK assets that made up the transaction included the Singleton oil field, the Baxter's Copse development project and the Burton Down exploration prospect. Providence said that the realized proceeds from the deal, after repaying a debt facility, amount to approximately $22 million.

Providence Chief Executive Tony O'Reilly commented in a statement:

"We are very pleased to have closed this transaction, which means that the company is now totally debt free. We will now continue to concentrate on our extensive Irish portfolio of appraisal projects and exploration prospects, which are the subject of a major multi-basin drilling program."

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CNOOC Completes Nexen Buy; News Follows Sinopec-Chesapeake Deal

HONG KONG - News late Monday that China's state-run CNOOC Ltd. had completed its record-breaking purchase of Canada's Nexen Inc. came hot on the heels of another Chinese investment in the U.S. the same day, signaling that the appetite for North American shale projects in energy-hungry Asia remains strong.

CNOOC and Nexen said in separate statements they had completed the $15.1 billion acquisition following approvals from Canadian, U.K. and U.S., regulators, giving the third-largest Chinese oil and gas company by output control over huge shale-gas reserves in British Colombia and crude-oil deposits beneath the North Sea.

Hours before that, state-owned oil giant China Petrochemical Corp., or Sinopec Group, agreed to buy a 50% stake in Chesapeake Energy Corp.'s Mississippi Lime venture for $1.02 billion. In 2010 and 2011, CNOOC bought into Oklahoma City-based Chesapeake Energy's oil-rich shale fields in south Texas, as well as fields in Colorado and Wyoming.

The deals are a consequence of new technology that has unlocked huge amounts of gas and oil formerly trapped in shale-rock formations in North America, the funding needed to develop these, and moves by Canada to encourage foreign investment and find new customers for its future oil and gas output.

"CNOOC is delighted to acquire a leading international platform through the acquisition of Nexen," CNOOC Chairman Wang Yilin said in the CNOOC statement. "We strongly believe that this acquisition is a good strategic fit for us and will create long-term value for our shareholders."

Nexen said Kevin Reinhart would continue as the company's chief executive, while CNOOC CEO Li Fanrong will assume the chairmanship of Nexen's board. Nexen's shares will be delisted from the Toronto Stock Exchange in the coming days.

The Nexen acquisition, China's largest single overseas investment, is vital for CNOOC's long-term growth and important for its long-term energy security, as its oil and gas output growth has been slowing since 2011 due to maturing fields.

CNOOC is targeting oil and gas output growth at a compound annual rate of 6%-10% between 2011 and 2015.

Asian firms have completed $31 billion in outbound mergers and acquisitions in North America's oil, gas and mining sectors in the past year, according to data tracker Dealogic.

The Nexen-CNOOC deal follows the $5.2 billion purchase in December by Malaysian state-controlled energy giant Petroliam Nasional Bhd., also known as Petronas, of Canadian natural-gas producer Progress Energy Resources Corp.

Both CNOOC and Petronas are looking to export deep-chilled liquefied natural gas from Canada's west coast to Asian markets once approvals have been given and export facilities built.

Canadian Natural Resources Minister Joe Oliver on Monday signed a 25-year export licence for another project aiming to export to Asia: LNG Canada Development Inc., a consortium comprising Royal Dutch Shell, Korea Gas Corp., Mitsubishi Corp. and PetroChina International that is planning to build a terminal at Kitimat, British Columbia. That project still requires additional approvals.

"The Harper Government is aggressively working to open new markets for Canadian natural resources in the fastest-growing region of the world," Mr. Oliver said. Canada's natural gas exports currently go only to the U.S.

As part of its bid, CNOOC promised to keep Nexen's headquarters in Calgary, Alberta, and to transform those offices into the headquarters for CNOOC's North and Central American operations. Nexen confirmed those moves late Monday.

Copyright (c) 2012 Dow Jones & Company, Inc.

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PetroNeft Successfully Completes Arbuzovskoye Well

PetroNeft Resources reported Friday that it has successfully completed its Arbuzovskoye well 112 on Licence 61 in the Tomsk Oblast, Russia, while well 105 is currently drilling ahead.

PetroNeft said there was no water production associated with well 112, which had an initial flow rate of 140 barrels of oil per day. The well is currently shut in for pressure build-up testing.

Production from two Arbuzovskoye wells has been temporarily reduced by around 300 bopd due to mechanical issues, but the firm expects this will be fixed by work over or pressure maintenance.

PetroNeft added that total production on the license is running at 2,600 bopd – which excludes the 400-plus bopd potential from well 112 and the two mechanically-reduced Arbuzovskoye.

PetroNeft Resources CEO Dennis Francis commented in a statement:

"The initial flow rate on well 112 is encouraging and the fact that there is no water production bodes well. We continue to delineate the field and hope to alleviate the issues with the two Arbuzovskoye wells in the coming weeks. We also look forward to completing further wells in Arbuzovskoye and implementing the planned pressure maintenance programme over the coming months."

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PetroNeft Successfully Completes Arbuzovskoye Well

PetroNeft Resources reported Friday that it has successfully completed its Arbuzovskoye well 112 on Licence 61 in the Tomsk Oblast, Russia, while well 105 is currently drilling ahead.

PetroNeft said there was no water production associated with well 112, which had an initial flow rate of 140 barrels of oil per day. The well is currently shut in for pressure build-up testing.

Production from two Arbuzovskoye wells has been temporarily reduced by around 300 bopd due to mechanical issues, but the firm expects this will be fixed by work over or pressure maintenance.

PetroNeft added that total production on the license is running at 2,600 bopd – which excludes the 400-plus bopd potential from well 112 and the two mechanically-reduced Arbuzovskoye.

PetroNeft Resources CEO Dennis Francis commented in a statement:

"The initial flow rate on well 112 is encouraging and the fact that there is no water production bodes well. We continue to delineate the field and hope to alleviate the issues with the two Arbuzovskoye wells in the coming weeks. We also look forward to completing further wells in Arbuzovskoye and implementing the planned pressure maintenance programme over the coming months."

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Ithaca Completes Cook Field Acquisition

North Sea-focused Ithaca Energy announced Tuesday that it has completed the acquisition of an additional 12.885 percent of the Cook field via the purchase of the UK-owned subsidiary of U.S. firm Nobel Energy. Ithaca now holds 41.345 percent of the field.

The completion marks the closure of part of a deal arranged by Ithaca in October to buy two subsidiaries from Noble for $38.5 million. The firms also agreed that Ithaca would gain Noble’s 14-percent interest in the MacCulloch field.

Ithaca expects both acquisitions to increase its net proven and probable reserves by 3.4 million barrels of oil equivalent.

The Cook oil field, operated by Shell, lies in Block 21/20a in the central North Sea. The field has been developed as a single well subsea tie-back to the Shell-operated Anasuria floating production, storage and offloading vessel (FPSO). This serves as a host processing facility to several nearby fields, with oil exported from the FPSO via shuttle tankers and gas via pipeline to shore.

A former engineer, Jon is an award-winning editor who has covered the technology, engineering and energy sectors since the mid-1990s. Email Jon at jmainwaring@rigzone.com.

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Ithaca Completes Cook Field Acquisition

North Sea-focused Ithaca Energy announced Tuesday that it has completed the acquisition of an additional 12.885 percent of the Cook field via the purchase of the UK-owned subsidiary of U.S. firm Nobel Energy. Ithaca now holds 41.345 percent of the field.

The completion marks the closure of part of a deal arranged by Ithaca in October to buy two subsidiaries from Noble for $38.5 million. The firms also agreed that Ithaca would gain Noble’s 14-percent interest in the MacCulloch field.

Ithaca expects both acquisitions to increase its net proven and probable reserves by 3.4 million barrels of oil equivalent.

The Cook oil field, operated by Shell, lies in Block 21/20a in the central North Sea. The field has been developed as a single well subsea tie-back to the Shell-operated Anasuria floating production, storage and offloading vessel (FPSO). This serves as a host processing facility to several nearby fields, with oil exported from the FPSO via shuttle tankers and gas via pipeline to shore.

A former engineer, Jon is an award-winning editor who has covered the technology, engineering and energy sectors since the mid-1990s. Email Jon at jmainwaring@rigzone.com.

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Ithaca Completes Cook Field Acquisition

North Sea-focused Ithaca Energy announced Tuesday that it has completed the acquisition of an additional 12.885 percent of the Cook field via the purchase of the UK-owned subsidiary of U.S. firm Nobel Energy. Ithaca now holds 41.345 percent of the field.

The completion marks the closure of part of a deal arranged by Ithaca in October to buy two subsidiaries from Noble for $38.5 million. The firms also agreed that Ithaca would gain Noble’s 14-percent interest in the MacCulloch field.

Ithaca expects both acquisitions to increase its net proven and probable reserves by 3.4 million barrels of oil equivalent.

The Cook oil field, operated by Shell, lies in Block 21/20a in the central North Sea. The field has been developed as a single well subsea tie-back to the Shell-operated Anasuria floating production, storage and offloading vessel (FPSO). This serves as a host processing facility to several nearby fields, with oil exported from the FPSO via shuttle tankers and gas via pipeline to shore.

A former engineer, Jon is an award-winning editor who has covered the technology, engineering and energy sectors since the mid-1990s. Email Jon at jmainwaring@rigzone.com.

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Tullow Completes Acquisition of Spring Energy Norway

Tullow Oil announced Tuesday Spring Energy Norway CEO Roar Tessem is to become managing director of Tullow's Norwegian companies now that Tullow has completed its acquisition of Spring.

Tullow said the acquisition has already brought success for Tullow when last week Spring was awarded 13 licenses in Norway's 2012 Awards in Predefined Areas licensing round. Four of these licenses will be operated by the company.

The new licenses are highly complementary and mostly adjacent to current acreage held. The new acreage is located in all three areas of the highly prospective Norwegian Continental Shelf: the North Sea, the Norwegian Sea and the Barents Sea.

Tullow is also awaiting the results of applications both it and Spring made in Norway's 22nd licensing round.

Tullow Chief Executive Aidan Heavey commented in a statement:

"I am delighted to welcome our new colleagues to Tullow and I look forward to working with them. The quality of their business and staff has been underlined by their exceptional performance in Norway's most recent licensing round in which over 40 Norwegian and international companies participated."

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