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Oil and Gas Journal Drilling News

  1. Santos has brought in a fourth drilling rig to strengthen its gas development program in the Cooper basin. The rig is scheduled to drill eight wells by yearend, beginning with four deviated wells in Big Lake field in South Australia. This will be followed by four appraisal wells in Moomba South field.

  2. Execution of upstream oil and gas projects is improving, says a new study by Wood Mackenzie. Midsize to large projects in growing numbers have been delivered on target during the past 12 months.

  3. Light, sweet crude oil prices for September delivery dropped moderately on the New York market Aug. 13 while the Brent contract for October also fell in London after the Organization of Petroleum Exporting Countries said the cartel’s production rose in July.

  4. After a relatively steady year, oil production in Libya plunged in June as militancy once again hobbled oil export terminals. Output had stayed about 1 million b/d most months since July 2017, having recovered from 260,000 b/d in August 2016.
  5. Oil Search Ltd.’s Barikewa-3 appraisal well in retention license PRL-9 in the forelands of Papua New Guinea has encountered natural gas in the target Toro and Hedinia sandstone reservoirs.