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Oil Prices Soar After EIA Reports Large Crude Draw

Oil prices jumped, with Brent hitting $46 per barrel after the EIA reported another large draw in crude inventories

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Big Oil’s Most Profitable Business Is No Longer Oil

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U.S. Oil Rig Count Falls To Lowest Level Since 2009

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Press Releases

MEO and Cue Renew Carnarvon Basin Permit for Five Years

Mar 08, 2012 at 12:48

WA-360-P renewed for 5 years, MEO interest increases to 62.5% Key Points:• Designated Authority grants 5 year renewal of WA-360-P• MEO participating interest increases to 62.5%…

MEO Australia Releases Volumetric Assessment of Gas Discoveries

Mar 05, 2012 at 18:46

Independent assessment of Marina discovery and Breakwater prospect Key Points: • Marina-1 discovery assessed to contain contingent hydrocarbon resources in five zoneso contingent gas resources: 51 Bcf…

Repsol Discovers Another Large Oil Deposit in Brazil

Feb 29, 2012 at 11:08

A new oil discovery has been made in the Campos Basin of the coast of Brazil. Repsol Sinopec Brasil discovered the Pão de Açúcar well has a thickness of 500m,…

Floyd 3d Seismic Survey Completed in Timor Sea

Feb 28, 2012 at 18:20

Completes acquisition of Floyd 3D seismic survey in WA-454-P Key Points: • Completes acquisition of Floyd 3D seismic survey in WA-454-P (MEO 100%)• Survey will refine Marina resource…

PTTEP Astonishes the Market with a £1.1 Billion Cash Bid for Cove Energy

Feb 28, 2012 at 18:10

Last week Shell made a £942 million bid for Cove Energy, who hold significant rights to areas of Mozambique that boast some of the world’s largest natural gas reserves, but…

GE and JP Morgan Invest $225 Million in West Texas Wind Farm

Feb 28, 2012 at 17:49

Yesterday GE Energy Financial Services and JP Morgan announced that they are to join together to invest $225 million into the 662.5 megawatt Capricorn Ridge wind farm in West Texas.…

Australian Oil Company Farms in to Prospective Thailand Acreage

Feb 27, 2012 at 15:37

Acquires 50% interest in Gulf of Thailand Block G2/48 Key Points:• Acquires 50% interest in Gulf of Thailand block G2/48• Located in a shallow water emerging…

MEO Expands Exploration Activity in Joseph Bonaparte Gulf

Feb 24, 2012 at 13:15

Regulatory approval received for variation to WA-454-P minimum work program Key Points: • Designated Authority approves variation to WA-454-P Minimum Work Program MELBOURNE, AUSTRALIA (24th February, 2012) MEO…

Challenger to Commence Operations at Mercury Stetson Shale Gas Prospect

Feb 15, 2012 at 13:27

13 Feb 2012: Challenger Energy Ltd (“Challenger”) is pleased to announce that Unit Drilling Rig 25 and the other equipment required to commence the next phase of operations at Mercury…

Cue Energy Encouraged by Progress at Mahakam Hilir PSC, Indonesia

Feb 10, 2012 at 11:39

Cue Energy Resources Ltd is pleased to provide the following update on the drilling status of Naga Utara-1. The well is located within the Mahakam Hilir PSC in the Kutei…

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