First step in reversion of LNG pricing structures

LNG has historically been priced to an oil price marker. This is because until recently, LNG has been a point-to-point business - LNG was produced in one country and shipped under a 20-30 year contract to a single destination and the LNG tanker would shuffle back-and-forth between the two end points. This underpinned the project financing for construction of liquefaction projects. LNG prices were then linked to oil as both the LNG producing nations...

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Maria, you've gotta see her!

Wintershall has shut-in the Maria field since February, approximately a year after first production, following poor production performance. It is understood that reserves have been downgraded from 207mmbbl to c.60 mmbbl. The field is now undergoing testing and monitoring to see how best to produce the remaining reserves the recover the lost reserves whilst managing the reservoir. It is understood that the NPD has to review plans and sign off...

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Waha gas pricing goes negative

Chart of the week: Waha hub gas pricing goes negat...

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Azinor Catalyst portfolio

Azinor has an exciting Central North Sea portfolio which is situated close to existing fields and could act as low cost tie-backs to existing infrastructure. ...

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Energean targets Karish North

Energean is in the middle of drilling the Karish North prospect with results expected at the end of April 2019. The prospect is located c.5.4km from the Karish FPSO and is targeting 1.4tcfe. Assuming success and a discovery, Energean believes it would convert into 0.4bcm/y. The FPSO is designed to handle 8bcm/y and Energean has so far secured 4.2bcm/y of offtake. It is expecting to finalise another 1.1bcm/y shortly, bringing contracted volumes...

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Leveraging off Leverett

As part of the 30th Licensing Round, Zennor picked up Blocks 21/2d, 21/3c-d in licence P2350. The licence contains the Leverett discovery which was appraised by CNOOCNexen. The discovery has had four wells and may or may not require further appraisal prior to development. The field could be tied back to Zennor's Finlaggan field and extend the plateau. Leverett has been penetrated by: 21/2-2 - drilled in 1975 with the West Venture rig 21/2-4...

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CNOOC to drill in the West of Shetlands

CNOOC has contracted the Island Innovator rig from Island Drilling Company for the drilling of the Howick prospect in Block 206/21 in the West of Shetlands. CNOOC is 100% operator of the block CNOOC also has Cragganmore discovery in Block 208/17A which is planned to be further appraised, potentially in 2019. CNOOC is operator of Cragganmore with 70% interest; INEOS is a 30% partner. ...

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