Saudi Arabia - joining the dots

A series of blog entries exploring Saudi Arabia's role in the oil markets with a brief look at the history of the royal family and politics that dictate and influence the Kingdom's oil policy

Showing posts with label Sierra. Show all posts
Showing posts with label Sierra. Show all posts

Thursday, 24 January 2019

Premier success at Zama

Premier and operator Talos have announced the successful appraisal of Zama-2 offshore Mexico. This is the second well on the Zama field, following the initial discovery at Zama-1 in 2017, and reaffirms the massive 600mmbbl oil discovery. The well penetrated 152m of net pay with a high net-to-gross of 73% (vs. Zama-1 of 63%). This suggests potential resource upside and could see resource estimates being upgraded as the appraisal campaign continues. Zama-2...

Wednesday, 5 December 2018

DEA acquires Sierra Oil & Gas

DEA has expanded its international footprint into the Americas by acquiring Sierra Oil & Gas from Riverstone Energy. The Sierra portfolio includes the prized Zama discovery (Sierra Oil & Gas 40%, Talos Energy 35%, Premier Oil 25%) and an extensive exploration acreage position offshore Mexico. The value of the deal is reported  at ~USD500 million which provides a positive read-through for Zama of over USD300 million net to Premier. The...