Thursday. Say it with me. Thursday. Feels nice, doesn’t it? Everyone likes a Thursday. Thursday’s your buddy, Thursday’s your pal. You can count on Thursday. Thursday means tomorrow is Friday, Thursday means Monday is out of sight and out of mind. Thursday night used to mean “Tap the keg of grain alcohol!” back in my UMass, Amherst days… but that’s another column for another site and another liver. Today,Thursday night means it’s time to dig into the nitty gritty of the latest in the world of oil and gas. T-Koogs put the morning on a platter for you with his “Morning Surge”… now it’s time for dessert. Here we go:
New 3-D Seismic Data Identifies Significant Reserve Potential For Independent Oil Company – Petro River Oil Corp.
Petro River Oil Corp. has announced that 3-D seismic data displayed positive results in three of its California and Oklahoma project areas. PROC now plans to commence with drilling four wells on these three main holdings in this year’s second quarter.
3-D seismic data/3-D seismic technology makes me long for the days when 3-D movies were supposed to be “The next big thing”… And by “long for” I mean “couldn’t care less about”. 3-D movies can fry ice as far as I’m concerned. 3-D seismic breakthroughs in the oil and gas biz?? I’m all for it.
Stephen Brunner, President of Petro River and a member of the Board of Managers of Horizon Energy said:
“This data improves our understanding of structure, trap type and reservoir characteristics enabling our exploration effort to move forward with more precision and lower exploration risks. If any of the initial wells are successful, numerous additional opportunities for reserve additions and substantial production will be available to Petro River.”
Go get ‘em Stephen. We’re all counting on you. And by “we’re all”, I mean a few folks in California and Oklahoma.
Eni (E) Generates First Oil from Cabaca South East Field
For those of you wondering, “Why the hell haven’t I heard any news out of Angola recently?”… You’re in luck. Major energy player ENI has just announced production of the first oil from the Cabaca South East field near the coast of Angola. The budding oil field is part of their East Hub Development project.
Being from Boston I like this. As Boston is commonly called “The Hub” – and being a fan of the associative property, I see myself smack in the middle of these two hubs. I also see myself seeking mental treatment by the end of the month if my passion for the associative property and “hubs” takes a “dangerous” turn.
ENI says they’re 5 months ahead of schedule and will keep getting oil from the region using the Armada Olombendo FPSO vessel, which is said to be able to produce around 80,000 barrels per day of crude and compress 3.4 million cubic meters per day of natural gas.
Watch out world, Angola’s making a run at the big time.
Canada: Questerre Energy Announces Successful Private Placement
Feels fitting for Michael Binnion, President, Chief Executive Officer of Questerre to open things up. He said:
“The proceeds from this placement further strengthen our financial position. We are fully funded to participate in the ongoing development of our Montney assets at Kakwa this year. We also plan to invest in the early engineering work for our planned pilot program for the Utica in Quebec.”
It appears that Questerre will be using its wisdom gained through early dealings with shale and other non-conventional reservoirs, while they look into oil shale projects with the aim of commercially developing these abundant resources.
As far as Micheal Binnion goes… you’re thinking it, so I’ll say it. Shale to the Chief! By the way, I’m not buying the name “Questerre” for a company involved in the oil game… Questerre sounds more like a spin-off video game that involves swords, treasure, and some vague mission that takes you thru a dungeon.
Okay. Let’s leave it right there in the dungeon. It’s up to T-Koogs to use the morning light to break you free and liberate you with his words of wonder. What a week it’s been so far, and there’s still tomorrow… Until then… night night.