Sinopec Flows Oil, Gas at Shunbei Field
Mar 16, 2021 6:30:am
Summary Sinopec plans to produce 10mn metric tons of oil equivalent annually at the Chinese Tarim basin field by 2022.
by: Shardul Sharma
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Sinopec Flows Oil, Gas at Shunbei Field
Chinese state-run Sinopec on March 15 said it had flowed oil and natural gas from its 42X well at the Shunbei oil and gas field in the Tarim basin.
The well flowed 822,000 ft
3/day of gas and 300 metric tons/day of oil. The company said it was a major breakthrough in the field’s exploration. The initial estimates suggest that the deposit could be 100mn metric tons of oil equivalent in size.
Neptune Cuts Costs, Suffers from Upstream Woes
Mar 11, 2021 11:20:am
Summary The producer lost output last year but its gas-weighted portfolio is in line with OECD climate objectives.
by: William Powell
Privately held explorer Neptune cut its operating costs from $10.3/barrel of oil equivalent (boe) in 2019 to $9.5/boe in 2020, against a break-even crude oil price of $29.8/boe, it reported.
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Canada’s Tourmaline Gains in Q4 on Acquisitions
Mar 11, 2021 7:19:pm
Summary
by: Dale Lunan
Canada’s Tourmaline Gains in Q4 on Acquisitions
Tourmaline Oil, now billing itself Canada’s largest natural gas and NGL producer, reported Q4 2020 net earnings of C$629.2mn (US$500.6mn) on March 10, up from C$61.3mn in the comparable 2019 period.
It attributed the increase to a gain on acquisitions and divestitures of C$500mn in the quarter – a period which saw it acquire Modern Resources and Jupiter Resources for C$570mn in cash and shares and the assumption of C$244mn of debt.
Net earnings for the full year increased to C$618.3mn from C$319.7mn.
/CNW/ - Headwater Exploration Inc. (the "Company" or "Headwater") (TSX:HWX) announces its operating and financial results for the three months and year ended.
Country Focus: Interest remains high in Egypt’s gas sector [LNG Condensed]
Mar 10, 2021 10:30:am
Summary While the Covid-19 pandemic may have slowed gas operations worldwide, Egypt remains a hive of activity. Over the last 12 months, major new operators have bought into the sector or enlarged their positions, gas production continues to rise, a deal has been reached to increase imports of Israeli gas, and Egypt’s second LNG plant is slated to resume operations in the first quarter of this year, following an eight-year hiatus. [LNG Condensed Volume 3, Issue 1 - January/February 2021]
by: NGW
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Country Focus: Interest remains high in Egypt’s gas sector [LNG Condensed]