Oil and Gas

The share price of Royal Dutch Shell (LSE:RDSA) moved modestly downward today, perhaps in response the company’s announcement that of its “swap” of natural gas assets with Chevron in Western Australia.  Shell opened the day at 2,259 and declined steadily to 2.238 by 1:00 pm. Summary of the Swap In the simplest of terms, according […]

AIM-quoted Jubilant Energy N.V. (LSE:JUB) has concluded its’ Phase III drilling programme in India, after successfully testing the last of the seven wells at its only producing Kharsang field, the company said today. KHG-64, the seventh well, is now flowing at a rate of 226 barrels of oil per day (bopd) after reaching a depth […]

AIM-quoted companies, Irish oil and gas firm Petroceltic International plc (LSE:PCI) and Scotland-based Melrose Resources plc (LSE:MRS) agreed to a merger to create a “regionally focussed independent oil and gas company”, the two companies disclosed today. Merger talks, which caught some investors by surprise, had been in place since February 2012, following a confidentiality agreement […]

The move by Premier Oil plc (LSE:PMO) to determine the northern extent of its’ Chim Sao oil field in Vietnam proved to be unsuccessful when the Chim Sao North West appraisal well did not find oil at one of the target reservoirs. Drilling 4,235 metres, Premier plugged and abandoned the CS-3X well after only the […]

Shares of Roxi Petroleum plc (LSE:RXP) jumped 11.7% in early morning trading after the Kazakhstan-focussed oil and gas firm said gross production from its Galaz field is anticipated to be at 500 barrels of oil per day (bopd). Roxi shares traded as high as 3.688 pence following the news before it went down to 3.25 […]

Kea Petroleum plc (LSE:KEA) is now about to become a commercial oil and gas producer, according to the New Zealand-focussed explorer. The director made the statement following the results of the production testing made at the Puka-1 well in onshore New Zealand. Oil and gas flowed at a controlled rate of 290 barrels per day […]

JKX Oil & Gas plc (LSE:JKX) will not release an interim dividend for its shareholders, the company said today. The decision came alongside results for the January to June 2012 period, reflecting a drop in revenue and operating profit brought about by the fall on production in its Ukraine and Hungary assets and delays from […]

Over the last five days BP has announced either agreements for the sale or the consummation of sales of significant portions of its business.  By divesting of these units, cash is flowing into the company coffers to ensure that it can keep its commitments to pay some $20 billion in claims arising out of the […]

Edge Resources Inc. (LSE:EDG) has just turned a zero-value asset into a new oil field. In a statement released today, Edge said it discovered a new pool to the east of its Primate project in Saskatchewan, Canada after drilling two wells that gave at least 12 metres of formation sands each, enough to merit 3D […]

Russia-focussed oil and gas producer PetroNeft Resources (LSE:PTR)  has commenced drilling the first of the ten-well development programme  at its Arbuzovskoye oil field and expects to put them into production by next month, September, the company announced today. The plan has been in place since it was approved last November 2011 and Petroneft has stated […]