Oil / Gas Exploration / Production

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Canacol Energy Ltd announces 6,140 BOEPD in new gas sales contracts

Thursday, 20 Feb 2014 06:30am EST

Canacol Energy Ltd:Says the execution of two new gas sales contracts and a related 44% increase in 2P gas reserves at its 100% operated Nelson gas field located on the Esperanza Exploration and Production Contract in the Lower Magdalena Basin of Colombia.Says under the terms of the two new sales contracts, Canacol will provide 35 million standard cubic feet per day (6,140 barrels of oil equivalent per day) for a 5 year period commencing in Dec. 2015 at a price of $ 5.40 / million British thermal units.Says Canacol currently sells approximately 18 mmscfpd (3,158 barrels of oil equivalent per day) to a local ferronickel producer under a 10 year contract that expires in 2021.

Noble Energy Inc announces agreement to sell tamar gas to multiple customers in jordan

Wednesday, 19 Feb 2014 08:00am EST

Noble Energy Inc:Signs a gas sales agreement between NBL Eastern Mediterranean Marketing Ltd., the Arab Potash company, and the Jordan Bromine company, both of which are located in Amman, Jordan.Under terms of the agreement, Noble Energy will supply natural gas from the Tamar field, offshore Israel, to Arab Potash and Jordan Bromine for use in their facilities near the Dead Sea.Natural gas sales are anticipated to commence in 2016, once minimal required pipeline infrastructure has been completed.The agreement is for an initial term of 15 years and a total gross contract quantity of about 66 bln cubic feet of natural gas.The price for the natural gas sold will be based on a floor price of at least $6.50 per thousand cubic feet of natural gas with upside linked to Brent crude oil prices.Gross revenues are estimated at $500 million, with actual sales dependent on final purchased quantities and oil prices at the time of sale.

CAMAC Energy Inc announces FPSO contract for production operations offshore nigeria

Wednesday, 19 Feb 2014 08:00am EST

CAMAC Energy Inc:Signs a long-term contract for the floating, production, storage, and offloading vessel (FPSO) Armada Perdana.The contract provides for an initial term of five years beginning Jan. 1, with an automatic extension for an additional two years unless terminated by CAMAC with prior notice.The company plans to utilize the FPSO for its multi-year, high-impact development and production operations in Nigeria.

UMW Oil & Gas Corporation Bhd announces vessel construction agreement for the design, engineering and construction of a rig vessel

Wednesday, 5 Feb 2014 07:00pm EST

UMW Oil & Gas Corporation Bhd:Says hat UMW Drilling 8 (L) Ltd, a wholly owned subsidiary of UMW Rig Asset (L) Ltd, which in turn is a wholly owned subsidiary of the company, has entered into a vessel construction agreement with Keppel FELS Limited.Says for the design, engineering and construction of a Rig Vessel, KFELS B Class jackup rig, for a cash consideration of $218 million.Says the Rig Vessel is expected to be delivered to UD 8 by the end of Sept. 2015.Says the agreement is based on the following terms of payment.20% (being payment of the first installment) upon the award of the contract and no later than Feb. 7.80% (being payment of the final installment) upon delivery of the Rig Vessel to UD in Sept. 8, 2015.Says the purchase of the Rig Vessel by UD 8 will be funded in part by proceeds from the company's recent Initial Public Offer with the balance to be financed by borrowings.

ERHC Energy Inc gets contract for 2D Seismic Survey in Kenya Block 11A

Tuesday, 14 Jan 2014 07:00am EST

ERHC Energy Inc:Says its wholly owned subsidiary, ERHC Energy Kenya Limited, has awarded BGP Kenya Limited a contract to conduct a 2D seismic survey of Block 11A in northwestern Kenya. ERHC intends the seismic survey to commence in early spring.

Woodside Petroleum Ltd signs sales agreement with Chubu Electric

Monday, 13 Jan 2014 08:25pm EST

Woodside Petroleum Ltd:Says that it has signed a sales and purchase agreement (SPA) with Chubu Electric Power Co. Inc. (Chubu Electric) for the supply of up to about 1.5 million tonnes of liquefied natural gas (LNG) over a three year period commencing in Apr. 2014.Says LNG delivered to Chubu Electric under the SPA will primarily be sourced from previously uncommitted volumes from Woodside-operated Pluto LNG.Says other terms of the agreement are commercial-in-confidence.

Rocksource ASA enters into software and data agreement

Thursday, 2 Jan 2014 03:09am EST

Rocksource ASA:Says it has entered into agreements with the Norwegian branch of a European oil and gas company related to sale of electromagnetic data (EM data) and licensing of Rocksource's proprietary Rocksource Discover software and source code (RD4).Says the total consideration for the software license and the EM data is 20 million Norwegian crowns.

MIE Holdings Corp announces CNG gas sales from Linxing PSC

Thursday, 26 Dec 2013 06:56pm EST

MIE Holdings Corp:Says its subsidiary Sino Gas & Energy Limited (SGE) has commenced compressed natural gas (CNG) sales from Linxing production sharing contract (PSC) project in Shanxi Province, China on Dec. 21.Says pursuant to the CNG sales agreement signed on Linxing PSC on Oct. 25, the first truck of CNG was successfully transported to its offtaker via road.

Cabot Oil & Gas Corp to provide natural gas to Dominion Cove Point LNG Terminal

Thursday, 19 Dec 2013 08:00am EST

Cabot Oil & Gas Corp:Says the execution of a definitive gas sale and purchase agreement with Pacific Summit Energy LLC, a wholly owned subsidiary of Sumitomo Corp.Says under the agreement Cabot has agreed to sell 350,000 MMBtu per day of natural gas for a term of 20 years commencing on the in-service date of the Dominion Cove Point LNG liquefaction project.

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