The Stock Network’s Post

Petro-Victory Energy Corp. has kicked off a workover program at the São João field after the SPT-129 rig arrived ahead of schedule.  The program is targeting new oil production from 14 additional zones across three producing wells at the Brazilian asset.  The São João Field contains total proved plus probable #oil reserves of 1.9 million barrels, carrying a NPV10 valuation of US$73.5 million.  The program started with the SJ-11 well, followed by the SJ-01 well, and progressing subsequently to the SJ-06 well.  For the SJ-11 well, the company will be testing across six zones, covering a total distance of 21.8 meters. In the SJ-01 well, the exploration will span five zones, totaling 32.2 meters. Finally, in the SJ-06 well, they will be testing across three zones, covering a distance of 12.4 meters.  More at #Proactive #ProactiveInvestors #TSXV #VRY http://ow.ly/jHAg105e32q

Our 2023 Energy Pick of the Year, $14M capped Global Oil & Gas (ASX:GLV) just announced details of an existing, historical DISCOVERY on their license. Usually a gas discovery takes years of work and at least a few expensive drilling events. This shallow offshore discovery has already flowed gas to surface for an extended period of time (60 days back in the 1980’s). It has a “best estimate” 404 billion cubic feet of gas (Bcf) CONTINGENT resource (100% basis). Read more Below 👇 https://bit.ly/3veDpZc Disc: 35,045,000 GLV Shares & 11,925,000 GLV Options Held

Norway Amplifies Oil and Gas Exploration to Secure Europe's Energy Future in 2024 Norwegian oil and gas companies are ramping up exploration in 2024 to maintain production levels. Planning to drill up to 50 wells, Norway aims to sustain its vital role in Europe's energy supply, especially after becoming the top natural gas supplier post-2022. This step aligns with the strategic balance between energy security and the transition to greener solutions #oilandgas #oilmarket #offshore #energysecurity

In 1954, the oil and gas industry witnessed a groundbreaking achievement that would forever change the landscape of energy extraction: the introduction of offshore drilling. 📍 Location: Gulf of Mexico, USA 🏗️ Achievement: The pioneering efforts of Kerr-McGee, Union Oil, and Shell Oil led to the development of the first successful offshore oil rig. This monumental innovation enabled drilling in deep waters, vastly expanding the possibilities for global oil exploration and unlocking previously inaccessible resources. The success of this offshore rig not only marked a technological leap but also paved the way for the modern offshore drilling operations we see today, driving forward the global energy industry and supporting the world's growing energy demands. #WWSEnergies #OilAndGas #History #OffshoreDrilling #EnergyInnovation #HistoricalMilestones #EnergyIndustry #TrainingPrograms #HumanResources #ConsultingServices #OffshoreTraining #CareerDevelopment

Triangle Energy (Global) Limited - TEG and its L7 Joint Venture partners Strike Energy (ASX:STX) and New Zealand Oil & Gas (ASX:NZO, OTC:NZEOF) are set to spud the Booth-1 well in the North Perth Basin within two weeks after taking possession of the Ventia 106 rig. The rig is mobilising to site and is expected to be ready to begin drilling in about 10 days with the L7 operator Triangle Energy anticipating spudding to occur around July 31, 2024. This represents an important milestone for Triangle as it will be the company’s first well to be drilled on its permits for 30 years. The Booth prospect in the east of L7 is the first well in the joint venture’s upcoming drilling campaign and is targeting gas at the Kingia-High Cliff reservoirs. There is also potential for oil or gas in the overlying Dongara and Cattamarra Coal Measures sandstones. More at #Proactive #ProactiveInvestors #Energy #OilandGas #NaturalGas http://ow.ly/Pi4K105BFLE

😎 It's time for the #PreWeekendPreview with Oilfield Technology! 🇲🇽 This week we are heading to the Gulf of Mexico, as Talos Energy announces new discovery and adds additional 2024 prospect in the Gulf of Mexico 🔍 Talos Energy has announced that its Ewing Bank 953 well successfully discovered commercial quantities of oil and natural gas. Separately, Talos entered into an agreement to participate in the Sebastian prospect, currently drilling in the Mississippi Canyon Block 387 of the U.S. Gulf of Mexico. 💬 Talos Interim President and Chief Executive Officer Joe Mills Talos Energy stated, "We are excited about the results of the Ewing Bank 953 well. The well logged better than expected rock properties, which we believe should lead to a robust initial flow rate. This discovery follows a series of successful single-well subsea exploitation wells tied back to Talos-owned existing infrastructure, like Venice and Lime Rock, Sunspear, and Claiborne sidetrack. Additionally, we were able to include the Sebastian prospect in our second-half 2024 drilling portfolio without requiring updates to our capital expenditures guidance for the year. These drill-ready projects exemplify our focus on tactical, lower-risk opportunities that can be brought online relatively quickly and supplement our larger, longer lead drilling projects." Read the full story here 👇 https://lnkd.in/eDG4v3uj

The Managed Pressure Drilling Services Market Forecast-Pragma Market Research and Business Consulting Managed Pressure Drilling Market size was valued at USD 2.84 Billion in 2024 and is poised to grow from USD 2.99 Billion in 2024 to USD 4.48 Billion by 2030, at a CAGR of 5.18% during the forecast period (2024-2030). 𝗚𝗲𝘁 𝗮 𝗦𝗮𝗺𝗽𝗹𝗲 𝗖𝗼𝗽𝘆 𝗼𝗳 𝘁𝗵𝗲 𝗥𝗲𝗽𝗼𝗿𝘁: https://lnkd.in/dJBTY6Fg By Market Verdors: Weatherford International, Halliburton, GE(Baker Hughes), Schlumberger, NOV, Archer, Aker Solutions, Ensign Energy Services, Strata Energy Services, Blade Energy Partners By Types: Mud Cap Drilling (MCD) Dual Gradient Drilling (DGD) Constant Bottom Hole Pressure (CBHP) Return Flow Control Drilling (RFCD) By Applications: Onshore Oil and Gas Offshore Oil and Gas Land Oil and Gas #ManagedPressureDrilling #MPDservices #OilAndGas #DrillingServices #WellControl #DrillingTechnology #OilfieldServices #PressureControl #DrillingOperations #MPDtechniques

Triangle Energy (Global) Limited - TEG has passed a major milestone today with drilling underway by the L7 Joint Venture (JV) at the Booth-1 well onshore in the North Perth Basin of Western Australia. This well is in Booth Prospect in the east of Permit L7 and comprises multiple #oil and #gas targets. It has a total Prospective Resource range of 113–540 billion cubic feet of gas (Bcf) with a Best Estimate of 279 Bcf. Booth-1 is the company’s first well to be drilled on its permits for 30 years and is the first well in the JV’s upcoming drilling campaign. Triangle managing director Conrad Todd said: “This is a pivotal time for Triangle. We have been exhaustive in assessing the Booth prospect and we are very excited to have drilling underway..." More at #Proactive #ProactiveInvestors #Energy #OilandGas #NaturalGas #CrudeOil http://ow.ly/9g5W105CQqJ

3D Energi is on a transformational pathway as we progress towards the drilling of up to 6 exploration wells as part of the upcoming Otway Exploration Drilling Program (OEDP), operated by ConocoPhillips Australia. With structural east coast gas supply shortages on the horizon, the east coast gas market urgently needs new sources of local gas, which will come predominantly from offshore Victorian basins, such as the Otway. 2024 has seen significant progress towards the preparation of the OEDP. Major procurement contracts have been signed, regulatory applications have been prepared and submitted, and subsurface evaluation has defined new prospectivity based on reprocessed and newly acquired 3D seismic data. Commercially, the Company has executed contracts that promote flexibility around our T/49P well carry with ConocoPhillips Australia, promoting a faster pathway to commercialisation of our Otway assets in the event of an economic success case. Moreover, we have presented a conceptual Otway gas strategy outlining a key commercialisation scenario. For the first time we have talked about gas sales, having signed a Right of First Refusal deed in regard to 3D Energi’s share of future gas production. The year ahead will see two high impact, low risk gas prospects drilled and excitement is building into 2025, so stay tuned. To find out more about our FY24 activities, please view our AGM presentation below 👇 #3DEnergi #TDO #AGM #oilandgas #eastcoastgas #exploration #explorer #Otway #Bedout

We are sincerely grateful to 3D Energi Limited for involving Ethicus Advisory Partners in being their Sole Lead Manager to their recent A$3.3 million equity capital raise to progress their Otway Drilling Preparation & Seismic Acquisition under the ConocoPhillips Joint Venture. 3D Energi Limited has positioned itself as an active offshore east coast gas explorer boasting a highly prospective portfolio in support of its goal to become an east coast gas supplier. Significant uncertainty around short term and long-term gas supply on the east coast of Australia means that 3D Energi’s business model has never been more relevant. 3D Energi is the largest acreage holder by area for Victorian offshore exploration, providing significant opportunities for potential gas discoveries. Multi TCF Gas Prospects Identified * Gross Prospective Gas Resource exceeding 12TCF across 4 license areas * ~620mmbbls+ Oil & Condensate Potential * Proximal to underutilised infrastructure. Joint Venture signed with ConocoPhillips one of the largest (~US$140B market cap) independent E&P companies. * Up to US$65 million (AUD $100 mln) over 2 signed deals to carry 3D into 2 wells in the Otway (VIC P79 & T/49P) (~A$100m). Success could see drilling of up to 4 additional exploration wells. Rig selected to drill 2 firm exploration wells – Transocean Equinox Submersible High success rate drilling seismic amplitudes in the Otway Basin – has an outstanding success rate drilling supported prospects. * 88% success drilling amplitude supported prospects. * Success rates tied to increasing application of good quality 3D seismic. West Coast Australia Exploration Assets * 100% owned WA-527-P permit in offshore Bedout Sub Basin, Western Australia. * Neighbouring Dorado Oil & Gas field, the largest discovery in 3 decades hashtag #oilandgas #asx #microcaps #energy