Although there are more than 40,000 oil and gas fields of all sizes in the world, slightly less than 80 percent of the proven reserves are concentrated in eight countries, of which only Canada and Russia are not OPEC members.
Continue reading "What Makes an Oil Deposit World Class?"
Monday, June 7, 2010
Primary Petroleum reports the appointment of Mr. P. Ted Doughty, Ph.D, P.Geol., and Mr. Peter Carwardine to Primary’s Advisory Board. Mr. Doughty is the founder of PRISEM Geosciences Consulting LLC, which provides comprehensive geological consulting services to the petroleum industry. Mr. Doughty received his B.A. degree in geology from Washington University in St. Louis in 1986 and [...]
Continue reading "Primary Petroleum adds expertise to Advisory Board"
Thursday, June 3, 2010
Primary Petroleum has focused a majority of its resources in the acquisition of prospective oil and gas acreage in Montana. The Company has a significant land position in the extension of the Alberta Basin Bakken Fairway in Western Montana. As well in Daniels County in the Williston Basin of north-eastern Montana Primary has a 100% interest in the Saturn prospect, which is approximately 50 miles NW of the Elm Coulee Bakken Field.
Continue reading "Primary Petroleum – Western Sedimentary Basin"
Tuesday, May 25, 2010
Primary Petroleum reports that the recent funding has eliminated all debts and has working capital of approximately $1.2 million. Primary holds 100% Working Interest (”W.I.”) in approximately 130,000 net acres in two Bakken potential prospects in Montana. Its Teton – Pondera lands consist of approximately 110,000 net acres [167 sections] and are located within the ‘Bakken fairway’ and on trend [...]
Continue reading "Primary Provides Update on Its Land Holdings"
Friday, May 21, 2010
Oil and gas exploration and production company and Oklahoma based (ASX listed) Red Fork Energy Limited (”Red Fork” or “the Company”) has announced that their East Oklahoma shale gas project is delivering lower development and finding costs. Managing Director David Prentice is quoted saying: “It is important to remember that reducing costs of drilling and completing a [...]
Continue reading "Red Fork’s East Oklahoma Project Improved"
Monday, May 17, 2010
Brumby Labor Government has announced the new areas for oil and gas exploration in Victoria. Peter Batchelor confirmed that five onshore areas in the Gippsland Basin is now included as well as two onshore areas and one offshore area in the Otway Basin. Energy and Resources Minister Peter Batchelor is quoted saying: “We are committed to creating [...]
Thursday, May 13, 2010
Executives from BP Plc (BP.L), Transocean Ltd (RIG.N) and Halliburton Co (HAL.N) still argues on who is mainly responsible for the oil-rig explosion last April 20. The said accident took 11 lives and oil is still spilling into the Gulf of Mexico. Senator Jeff Bingaman is quoted saying “This is like other catastrophic failures in technological systems [...]
Continue reading "Finger-Pointing by BP Plc, Transocean, and Halliburton"
Tuesday, May 4, 2010
Local fishermen and charter boat captains are affected by the oil spill in Gulf Mexico as fishing areas were closed by the east of the Mississippi River as a precautionary measure. A drilling rig is being made by oil engineers to reduce the oil spill in the Gulf of Mexico. The relief well is to [...]
Continue reading "Oil Spill Increases Urgency"
Thursday, November 6, 2008
By Duncan Sutherland – Exclusive to Heavy Oil Investing News Market news The short to medium term outlook for oil sands and heavy oil projects remains negative. As the barrel price for light sweet crude remains (relatively) low, new investments in oil sands projects are unlikely to be forthcoming. The combination of low prices and tight credit [...]
Continue reading "Upgrader:Harper’s gambit"
Friday, October 17, 2008
By Duncan Sutherland – Exclusive to Heavy Oil Investing News Canada: Upgrader is going up later than usual this week because of the Canadian Federal Election and the American Presidential debate. Now that these two events are a matter of record, there is much good news for the heavy oil and oil sands industries. First, the Canadian [...]
Continue reading "Upgrader: elections special"
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Thursday, July 15, 2010