Under the farm-out, UJO will acquire a 7.5% working interest in PEDL143 from Europa, paying 15% of the costs to drill the exploration well at Holmwood.
Keppel O&M and Rosneft will have shares of 45% each in the JV, while MHWirth will hold 10% while adhering to existing U.S. and EU sanctions imposed on Russia’s offshore sector, Reuters reported.
Syncrude is a JV operation in the Alberta Sedimentary Basin, which extracts bitumen from oil sands and upgrades it to light synthetic crude oil. Production averaged 15,600 boe/d (net) in the first quarter of 2016.
Callon has entered transactions to boost its position in the Midland Basin to about 34,000 net surface acres, including a new core operating area in one of the basin’s hot spots.
The Thai company said in a statement the deal was its first in the U.S. upstream gas business and was part of its strategy to balance its heavy exposure to the Asian market.
The Dallas-based company said April 7 it has acquired a 50% working interest in certain assets in Beauregard Parish, La. The company also partnered with the U.K.-based Northcote Energy Ltd.
Opposition lawmakers believe the contract contains secret clauses that hand concessions to Chevron and undermine national interests.
Quarterly operating income was also higher—it was about $1.87 million at fourth-quarter 2015, compared to the fourth-quarter 2014 operating loss of about $1.8 million.
As QS Energy's JV partner, JBL will source and evaluate proved developed producing oil and gas properties, with upside cash-producing potential through the drillbit, according to the release.
The agreement will boost Rex's HBP core acreage in the Appalachian Basin and provide liquidity for 15 additional wells in 2016 but sacrifices working interest in nearly 60 wells.
The newly formed company will be led by Manuel Pablo (Manolo) Zuniga-Pflucker, president and CEO. He said the initial focus will be on Peru’s onshore assets.
Al Shaheen holding company has three joint ventures in the oilfield services industry--two with GE Oil & Gas and one with the Middle East unit of Weatherford, Reuters reported.