GLG News by Oil And Gas Basin Experts (US)

Stuart GoldsteinOil & Gas Exploration & Production E&P ConsultantStuart Goldstein

Heritage Oil Announces Discovery of a Major Gas Field in Kurdistan, Iraq

January 30, 2011

Analysis of:Heritage finds Iraq giant | www.upstreamonline.com

Following completion and testing of the Miran West-2 well, a major gas discovery in the Kurdistan Region of Iraq, Heritage Oil estimates the Miran West structure has P90-P50 gross in-place gas volumes of between 6.8-9.1 trillion cubic feet (TCF) with 42-71 MMbbls of condensate and 53-75 MMbbls of oil.The well results have confirmed three additional pay zones within Lower Cretaceous and Jurassic formations, in addition to the pay zone identified in the Upper Cretaceous in the Miran West-1 well.

Stuart GoldsteinOil & Gas Exploration & Production E&P ConsultantStuart Goldstein

GeoGlobal Resources (GGR) Pursuing 4 Offshore Israel Oil & Gas Licenses

June 5, 2010

Analysis of:GeoGlobal Appointed Operator for Myra & Sara Offshore Israel Oil & Gas Licenses | www.prnewswire.com

GeoGlobal Resources has been appointed operator for 2 Offshore Israel Oil & Gas Licenses 347 "Myra" and 348 "Sara" in the Eastern Mediterranean Sea. The company has applied separately for the "Samuel" and "Michal" (within "Benjamin" permit area) Licenses within the territorial waters of the State of Israel. These new permit areas are located in the highly prospective area of the Levantine Basin near the recent 6.3 TCF Tamar 1, Tamar 2, and the Dalit Natural Gas Discoveries by Noble Energy Inc.

Fred AminzadehPresident and Chief Executive OfficerFACT Inc

Another Blackbeard/Davey Jones in the Making?

May 23, 2010

Analysis of:Unlocking Grand Bay's deep treasures: gulf shelf potential at 17,000-28,000 ft | www.ogj.com

A recent Oil and Gas Journal article (April 12, 2010) discusses Grand Bay field in the Mississippi Delta, as another example of a potential new discovery in deep shelf gulf. Ultra-deep shelf plays target reservoirs below the salt weld with sizes up to 1 Tcfe at over 20,000 ft. Interest in deep shelf plays in the Gulf of Mexico has been spurred by McMoRan's recent Davy Jones discovery. These deep prospects have shorter lead times to first production and lower development costs.

Fred AminzadehPresident and Chief Executive OfficerFACT Inc

Finding New Oil in Old Fields

January 24, 2010

Analysis of:McMoRan Davy Jones Gas Discovery | www.theoildrum.com

On January 18, 2010, the Oil Drum reports McMoRan Exploration Company has made a significant discovery in the U.S. Gulf of Mexico that may contain 2-6 trillion cubic feet (TCF) of natural gas reserves. The well was drilled in 20 ft of water 10 miles south of the Louisiana coast discovery by McMoRan and partners.

Fred AminzadehPresident and Chief Executive OfficerFACT Inc

Another Sub-Salt Discovery Offshore Brazil

December 3, 2009

Analysis of:Brazil's Wahoo North presalt find extended | www.ogj.com

Oil and Gas Journal Editors report a new sub-salt discovery offshore Brazil. A group led by Anadarko Petroleum Corp. found more than 90 ft of net oil pay at the Wahoo-2 (Wahoo North) appraisal-exploration well in the northern Campos basin in the same pre-salt interval as the Wahoo discovery.

Fred AminzadehPresident and Chief Executive OfficerFACT Inc

Seismic While Drilling is Emerging as a Practical Tool to Reduce Drilling Cost

August 17, 2009

Analysis of:Seismic-while-drilling technology advance hailed | www.ogj.com

Nick Snow, Washington Editor of the Oil and Gas Journal reports of a breakthrough in practical implementation of the seismic while drilling technology. Technology International Inc. of Kingwood, Tex., has developed a breakthrough borehole imaging system that is nearly commercial, according to the DOE. SeismicPulser system provides more accurate geosteering for oil and gas discoveries, facilitating field development and improving well economics.

Fred AminzadehPresident and Chief Executive OfficerFACT Inc

Seismic technology contributed to successful sub-salt drilling in the GOM

July 28, 2009

Analysis of:BP Heralds Gulf of Mexico Prospects | online.wsj.com

Oil and Gas Journal reported a successful appraisal well drilling by BP PLC. This well was drilled in a previously untested southern segment of Mad Dog field in the Gulf of Mexico. The 826-5 well was drilled on Green Canyon Block 826 about 100 miles south of Grand Isle, La. The well found 280 net ft of hydrocarbons in the objective Miocene hydrocarbon-bearing sands. In 2008, BP drilled the A-7 well in the western part of the field, with 275 ft of net pay.

Fred AminzadehPresident and Chief Executive OfficerFACT Inc

Largest discovery in California in 34 years

July 24, 2009

Analysis of:Oxy adds California gas-condensate giant | www.pennenergy.com

HOUSTON, July 23 -- Occidental Petroleum Corp. has drilled six wells in an apparent giant gas-condensate field in California’s San Joaquin basin that has an estimated 150-250 million boe recoverable. The discovery identified a new play concept that Oxy officials compared with an offshore deepwater structure. They said the concept is prospective underneath Oxy’s giant Elk Hills field southwest of Bakersfield and indicated it may be exploitable by other operators in the basin.

Stuart GoldsteinOil & Gas Exploration & Production E&P ConsultantStuart Goldstein

2009 is Transition Year for Oil & Gas Exploration & Production

June 9, 2009

Analysis of:Period of Sustained Cost Escalation for Upstream O&G Facilities Ends | www.rigzone.com

Oil & Gas Companies are Acquiring Properties & Companies opportunistically taking advantage of today's Low Commodity Prices which are expected to continue through 2009 into first half of 2010.   Upstream E&P Companies that were highly financially leveraged during the High Commodity Price Period have been most severely impacted by the precipitous decline of commodity prices and today's more capital constrained financial markets.  2009 is a Transition Year for Oil & Gas E&P as well funded Integrated Major Oil companies defer traditional organic Drilling for Reserves, as they wait for Service Company and Oilfield Suppliers prices to reconcile with anticipated $70-$90 per barrel oil prices, as they decline from recent highs associated with $130-$150 oil commodity prices.          

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