European TTF breaks through historical boundaries

S&P has highlighted in its recent webinar that the European TTF price has historically traded within a range but that recent gas pricing dynamics has seen it break out of this range. TTF has historically been bound by the JKM price as a ceiling (spot LNG price in Asia) and the coal switching price as a floor. In a tight gas market, TTF traded closer to the JKM price to incentivise LNG supplies into Europe In a loose gas market, TTF traded...

Read More

Warwick duster in the West of Shetlands

Hurricane Energy plc, the UK based oil and gas company focused on hydrocarbon resources in naturally fractured basement reservoirs, provides an update in relation to the 205/26b-13Z ("Warwick Deep") well. Following completion of drill stem testing of the Warwick Deep well, the decision has been made to plug and abandon the well. The Warwick Deep well was drilled to a total depth of 1,964m TVDSS and included a 712m horizontal section of fractured...

Read More

Guyana's upcoming drilling

Tullow and its partners have upcoming drilling in Guyana over the summer over two blocks. The blocks are: Orinduik: Tullow (60% operator), Total (25%), Eco Atlantic (15%) Kanuku: Repsol (37.5% operator), Tullow (37.5%), Total (25%) In August, the Stena Forth drill ship will arrive on Orinduik for a two well campaign to drill the Jethro and Joe prospects. In October, Repsol is scheduled to drill the Carapa prospect on Kunuku. Guyana remains...

Read More

Zama resource increase

Talos and Premier Oil have announced the successful appraisal of Zama in Block 7 offshore Mexico under the Zama-3 well. Premier has indicated a P90-P10 resource range of 670-970mmboe with P50 of 810mmboe. This further reaffirms the resource base and provides an upgrade to the previous 600mmbbl (oil) estimate. The Zama-3 well follows: The initial Zama-1 discovery in 2017 Zama-2 appraisal in January 2019 Zama-2ST1 sidetrack well in April 2019 Zama-3...

Read More

Kurdistan steps up efforts to eliminate gas flaring

The Kurdistan Ministry of Natural Resources ("MNR") has asked the Shaikan field partners (Gulf Keystone and MOL) to re-submit a revised FDP for the field to address additional MNR requests on gas management. The next well planned on the field will now be used to assess the feasibility of gas reinjection into the Jurassic formation, rather than as an originally planned Jurassic production well. Whilst a key driver to be reservoir management and...

Read More

Dry well in the Barents near Korpfjell

The 7335/3-1 exploration well on Production Licence 859 has drilled a dry well. The partners on the licence are: Equinor 65% operator, Lundin 15%, DNO 20%. The licence lies in the Barents Sea and the 7335/3-1 well is located c.8km southeast of the Korpfjell gas discovery. Both the primary and secondary exploration targets encountered sandy and poor reservoirs. The well was drilled by the West Hercules drilling rig to 4,268m below the sea surface...

Read More

Woodside's Pluto LNG restart delayed

Source: RBC Woodside's restart from its planned Pluto LNG turnaround will be delayed until the end of June after initial restart efforts were unsuccessful. Vibration in the refrigerant compressor has delayed restart. In the interim, Woodside will be purchasing cargoes from the market to fulfill its contractual obligations. However Woodside are making a healthy margin of  c.USD5/mmbtu with the current lull in Asian spot LNG prices due to...

Read More