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Rig Count Falters Amid Oil Price Correction

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Permian Discount Could Rise To $20 Per Barrel

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DISCOVERY & DEVELOPMENT ALERTS

Angola to Auction off More Exploration Rights

Angola is shaping up to be the next major sweet spot in West Africa—with the potential to rival even Nigeria. Now it’s opening up more exploration potential with plans to auction off more E&P licenses next year with the goal of doubling production by the end of the decade. The auction maintains the momentum built following February’s significant deep-water discovery of some 1.5 billion barrels of crude oil by Cobalt International Energy. This is a hot venue that we highly recommend.

Jordan Issues Oil Shale Power Station License

Jordan is trying to resolve its energy crisis as quickly as possible by fast-tracking the development of its oil shale reserves. This week Jordan’s environmental regulators issued a license to Enefit Jordan to build the country’s first oil shale power station, which could be operational in 2017 and supply 20% of its energy needs. The environmental impact study took two years to complete and review. The 500-megawatt plant will use fluidized bed combustion technology, and air cooling systems to minimize water use.

Lebanon’s Offshore Oil and Gas Tenders Likely to Stall

As the conflict in Syria risks a full-on spillover into Lebanon and Hezbollah becomes increasingly entrenched with Assad’s forces, Lebanon’s political parties have delayed new elections for 17 months, citing disagreement over a new electoral law. Without a new…

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