Woodside Halts Pluto Expansion Plans

Woodside Petroleum Ltd. has revealed there are longer discussions with other major oil and gas companies regarding an expansion of the Pluto liquefied natural gas (LNG) project in Western Australia.

Pluto, a $15 billion project that was launched about a year ago, has contributed significantly to Woodside's production profile in recent months.

The operation was a key factor behind Woodside reporting Thursday in its quarterly update a 55 percent jump in production compared to a year earlier for the three months to end-March.

Woodside had previously said it was looking to work with partners on the expansion of Pluto; however, those intentions were also dismissed in the update.

"At present, there are no discussions with other resource owners with regard to Pluto expansion," the Perth-based company said.

"Woodside is continuing its efforts in the pursuit of expansion gas and has exploration activities scheduled in the region over the coming years."

Only a week ago Woodside shelved its development plans for the Browse LNG project, in which the company is majority owner and operator. Woodside said that decision was due to commercial factors.

Despite expansion at Pluto and the development of Browse being currently off the agenda for Woodside, the company recorded several improvements for first quarter 2013 against the corresponding period a year ago.

The increase in production saw Woodside report first quarter output of 21.9 million barrels, which was in line with the company's guidance for 2013. Sales revenue increased by 21 percent to $1.445 billion.

Woodside explained that Pluto, along with the ongoing success of the North West Shelf operation, were major reasons for a lift in production.

However, compared to the previous quarter, to end-December 2012, production was down 10 percent and sales revenue was 18 percent lower.

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Woodside Halts Pluto Expansion Plans

Woodside Petroleum Ltd. has revealed there are longer discussions with other major oil and gas companies regarding an expansion of the Pluto liquefied natural gas (LNG) project in Western Australia.

Pluto, a $15 billion project that was launched about a year ago, has contributed significantly to Woodside's production profile in recent months.

The operation was a key factor behind Woodside reporting Thursday in its quarterly update a 55 percent jump in production compared to a year earlier for the three months to end-March.

Woodside had previously said it was looking to work with partners on the expansion of Pluto; however, those intentions were also dismissed in the update.

"At present, there are no discussions with other resource owners with regard to Pluto expansion," the Perth-based company said.

"Woodside is continuing its efforts in the pursuit of expansion gas and has exploration activities scheduled in the region over the coming years."

Only a week ago Woodside shelved its development plans for the Browse LNG project, in which the company is majority owner and operator. Woodside said that decision was due to commercial factors.

Despite expansion at Pluto and the development of Browse being currently off the agenda for Woodside, the company recorded several improvements for first quarter 2013 against the corresponding period a year ago.

The increase in production saw Woodside report first quarter output of 21.9 million barrels, which was in line with the company's guidance for 2013. Sales revenue increased by 21 percent to $1.445 billion.

Woodside explained that Pluto, along with the ongoing success of the North West Shelf operation, were major reasons for a lift in production.

However, compared to the previous quarter, to end-December 2012, production was down 10 percent and sales revenue was 18 percent lower.

Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.

View the original article here

Woodside Halts Pluto Expansion Plans

Woodside Petroleum Ltd. has revealed there are longer discussions with other major oil and gas companies regarding an expansion of the Pluto liquefied natural gas (LNG) project in Western Australia.

Pluto, a $15 billion project that was launched about a year ago, has contributed significantly to Woodside's production profile in recent months.

The operation was a key factor behind Woodside reporting Thursday in its quarterly update a 55 percent jump in production compared to a year earlier for the three months to end-March.

Woodside had previously said it was looking to work with partners on the expansion of Pluto; however, those intentions were also dismissed in the update.

"At present, there are no discussions with other resource owners with regard to Pluto expansion," the Perth-based company said.

"Woodside is continuing its efforts in the pursuit of expansion gas and has exploration activities scheduled in the region over the coming years."

Only a week ago Woodside shelved its development plans for the Browse LNG project, in which the company is majority owner and operator. Woodside said that decision was due to commercial factors.

Despite expansion at Pluto and the development of Browse being currently off the agenda for Woodside, the company recorded several improvements for first quarter 2013 against the corresponding period a year ago.

The increase in production saw Woodside report first quarter output of 21.9 million barrels, which was in line with the company's guidance for 2013. Sales revenue increased by 21 percent to $1.445 billion.

Woodside explained that Pluto, along with the ongoing success of the North West Shelf operation, were major reasons for a lift in production.

However, compared to the previous quarter, to end-December 2012, production was down 10 percent and sales revenue was 18 percent lower.

Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.

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Endeavour Halts Drilling Ops at East Rochelle

Endeavour International, operator of the East Rochelle field, provided a drilling update on the East Rochelle well (15/27-E1y) in the UK sector of the North Sea.

Endeavour performed a routine inspection of the conductor, well head and blow out preventer systems using a remotely operated vehicle (ROV) after a severe storm that lasted several days. Inspection of the well revealed that the cement around the top of the 36-inch conductor pipe had been removed creating a non-uniform hole around the conductor, the press release stated. The hole extended about 4 to 7 feet in diameter and 25 feet in depth.

Drilling operations have been suspended on the well due to this finding and the company is now conducting a thorough analysis to identify the cause of the cement loss. The repair work to the conductor pipe is completed and an evaluation will be conducted to determine if potential fatigue damage occurred on the conductor. Once the investigation is completed, the company plans to recommence drilling operations at the East Rochelle well.

The Transocean Prospect (mid-water semisub) is slated to move to the West Rochelle area to drill a second production well, allowing for the start-up for the Rochelle development.

The Rochelle field is located on Blocks 15/26b, 15/26c and 15/27 in 453 feet (138 meters) of water in the UK sector of the North Sea. Endeavour International serves as the operator, holding a 55.6% interest and Nexen holds the remaining 44.4% interest.

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