Tag Archives | Hess

Genel Energy Appoints New COO

Genel Energy has announced that Paul Schofield has been appointed as Chief Operating Officer. Paul has thirty five years’ management and technical experience encompassing all aspects of the upstream oil and gas business. He started his petroleum engineering career at Shell in 1981, subsequently working with Enterprise Oil, Tuscan Energy and Hess. Paul joined Hess […]

€114m Write-Off Expected at Petroceltic

By John Lee. Analysts expect Dublin-based Petroceltic International to incur a write-off of just under €114 million ($125 million; 146 billion Iraqi dinars) as a result of abandoning its operations in Iraqi Kurdistan. According to a report from the Irish Independent, it is also expected to take a cash cost hit of about €6.4 million ($7 […]

Hess, Petroceltic Abandon Dinarta Licence

By John Lee. Irish-based Petroceltic International has announced that it and its partner Hess will abandon their Dinarta licence in the Kurdistan Region of Iraq. The company told the stock market: “As previously announced on 15 January, drilling operations on the Shireen-1 exploration well in the Dinarta licence (Hess … (Operator) 64%, Petroceltic 16%, and […]

Petroceltic, Hess Reviewing Options at Shireen

By John Lee. Petroceltic International has given the following update this morning on its operations in the Kurdistan Region of Iraq: “Further to the temporary suspension announced on 11 August, drilling operations resumed at the Shireen exploration well on 2 October 2014. “Since recommencement, the well has encountered challenges with casing and cementing at high […]

Petroceltic Switches Focus to Dinarta

By John Lee. In its interim results on Wednesday, Petroceltic gave an update on its operations in Iraqi Kurdistan. The company, along with Hess (as operator) has been active in the Kurdistan Region since 2011 when the Shakrok and Dinarta blocks were awarded with Petroceltic holding a 16% interest in each. Activity for the first […]

Petroceltic Updates Operation, Shares Fall

By John Lee. Petroceltic International has issued an update on its operations including the following statement on its business in the Kurdistan Region of Iraq. The shares closed down 5.6 percent on Friday: The Shakrok-1 well on the Shakrok licence (Petroceltic 16%, Hess (Operator) 64% and the Kurdistan Regional Government 20%) reached its total depth […]

Petroceltic Gives Update on Operations

By John Lee. In its Preliminary Results Announcement on Friday, Petroceltic International has issued the following update on its operations in Iraqi Kurdistan: Kurdistan – material prospects in a dynamic region Petroceltic has been active in Kurdistan since 2011 and has worked closely with the operator, Hess, to undertake a comprehensive survey and analysis and […]

Petroceltic Abandons Shakrok-1, Shares Slump

By John Lee. Shares in Irish independent oil and gas exploration company Petroceltic International closed down 9.6 percent on Monday, following the company’s update on its operations in the Kurdistan Region of Iraq. On the Shakrok licence (Petroceltic 16%, Hess (Operator) 64% and Kurdistan Regional Government 20%), the Shakrok-1 well reached its total depth of […]

Petroceltic Results and Operational Update

Petroceltic International, the independent oil and gas exploration development and production company focused on the Middle East North Africa, the Mediterranean and the Black Sea regions, today announces its results for the six month period ended 30 June 2013. Highlights: High impact drilling campaigns in Kurdistan and Romania recently commenced $500 million debt refinancing Agreement […]

Petroceltic Spuds Shakrok-1

By John Lee. Petroceltic International has announced that it has spudded two wells: Shakrok-1, the first well in its drilling campaign in the Kurdistan Region of Iraq and Cobalcescu South, part of its planned multi-well drilling campaign, offshore Romania. Kurdistan Region of Iraq In July 2011 Petroceltic announced that Petroceltic Kurdistan Limited (“Petroceltic Kurdistan”) had […]

Petroceltic Rises on Preliminary Results

By John Lee. Shares in Irish-based exploration group Petroceltic International (PCI) were up 3 percent in early trading on Monday, following the release of its preliminary results. The results included the following statement on its operations in Iraqi Kurdistan: “Since 2005, the Kurdistan Region of Iraq has become one of the most active exploration locations […]