Faroe announces commencement of Brasse East well
The Brasse East well is being drilled immediately east of the Brasse field, discovered by Faroe in 2016 and appraised in 2017.
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The Brasse East well is being drilled immediately east of the Brasse field, discovered by Faroe in 2016 and appraised in 2017.
The company has entered into the agreement with Perdaman Chemicals and Fertilisers Pty Ltd for the supply of pipeline gas for a term of 20 years.
The expected availability of the rig is now February 2020.
Daniel Rogers, Upstream Oil & Gas Analyst at GlobalData, a leading data and analytics company, estimates the deal could be worth approximately US$2.4 billion and offers his insight on the transaction:
“There is no point in reinventing the wheel” according to Danny Constantinis (Executive Chairman) of EM&I
Total oil production from the 2018 EWT has reached 13 920 bbls, approximately 2.21 million litres, with gross oil sales of approximately US$1.1 million.
The Vaca Muerta Shale Basin in Argentina is the only unconventional play outside of North America where activity has already made the transition from exploration to full-scale development.
The company, which currently owns 13 oil leases, has successfully started production at its Potts lease, Indiana. This means the company has now been officially classified as an operator by the state’s Department of Natural Resources (DNR).
Rental systems are currently available in the Ohio and Houston markets and will be available in California beginning January 1, 2019.
International Frontier Resources Corporation has announced that Tonalli Energia, IFR’s joint venture (JV) with Mexican petrochemical leader Grupo IDESA, has spudded the first conventional horizontal well, (“TEC-11”), at its onshore Tecolutla block.
The company has been awarded the FEED contract for Gudrun Phase 2 Water Injection. The contract with Equinor also includes an option for the actual implementation (EPCI).
The company has provided an operational update for its interests in the North Sea.