Tag Archive | "Oryx Petroleum"

Oryx Petroleum Makes Oil Discovery


By John Lee.

Oryx Petroleum has announced two positive updates on its operations in the Hawler license area in Iraqi Kurdistan, in which the company has a 65 perccent participating and working interest:

  • Testing of the DD-4 appraisal well on the Demir Dagh field  achieved expected flow rates and confirmed reservoir and fluid characteristics. Henry Legarre (pictured), Oryx Petroleum’s Chief Operating Officer, stated:

    We are pleased with the successful testing of the DD-4 appraisal well, the first appraisal well to complete drilling and testing on the Demir Dagh field. Overall, the results confirm those of the Demir Dagh discovery with good flow rates, similar fluid characteristics and reservoir properties as observed in Demir Dagh-2.

  • Testing of the BAN-1 exploration well has confirmed the Corporation’s fourth consecutive oil discovery in the Hawler license area. Henry Legarre commented:

    “We are very pleased with the drilling and test results of the BAN-1 exploration well. We successfully flowed oil from the well´s primary targets in the Cretaceous and Lower Jurassic reservoirs.

    “In addition, we encountered and flowed hydrocarbons to the surface in the Triassic Kurra Chine formation and established the presence of hydrocarbons in the Tertiary Pila Spi formation. Given the down-dip location of the well, these results underline the significant potential that exists up-dip of the BAN-1 well. 

    “We are now accelerating plans to drill an appraisal well targeting the crest of the Banan structure in order to better understand the full potential of this discovery.”

(Source: Oryx Petroleum)

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Oryx Declares Demir Dagh “Commercial”


Oryx Petroleum has announced that it has determined that the Demir Dagh 2 well discovery is a Commercial Discovery pursuant to the terms of the Erbil Production Sharing Contract.

Oryx Petroleum is currently undertaking an extensive appraisal program in relation to the full Demir Dagh field, and will continue to undertake such appraisal activities through 2014, however, the Corporation has elected to declare commerciality at this time as it is proceeding to install and operate an early production facility on the Demir Dagh field, with production intended to commence in the second quarter of 2014.

Commenting today, Oryx Petroleum’s Chief Executive Officer, Michael Ebsary (pictured), stated:

We are very proud to declare commerciality for Demir Dagh and thus achieve another key milestone on our march towards first production and appraisal and development of the field.

“To declare commerciality for the field less than a year after discovery is a major achievement for our company and our partners in the Erbil License Area.

“We expect the rapid development of Demir Dagh to provide significant benefit to our stakeholders and to the people of Iraq.

(Source: Oryx Petroleum)

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Oryx Updates on Kurdistan Operations


 By John Lee.

Oryx Petroleum has announced an update on its drilling activities at Banan and Demir Dagh in the Hawler license area in the Kurdistan Region of Iraq.

The company the operator and has a 65 percent participating and working interest in the Hawler license area.

Commenting today, Henry Legarre (pictured), Oryx Petroleum’s Chief Operating Officer, stated:

Our exploration and appraisal activities in the Hawler license area continue to progress. We have completed drilling the Banan exploration well targeting one of the largest prospects in our portfolio. Hydrocarbons were encountered in the Cretaceous, Upper and Lower Jurassic and Triassic and we are now commencing a testing program.

“We have successfully re-completed the Demir Dagh-2 well and we are making excellent progress with the Demir Dagh-3 and Demir Dagh-4 appraisal wells. Observations during drilling of all wells on the Demir Dagh structure continue to be encouraging.

The full report can be downloaded here.

(Source: Oryx)

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Oryx Petroleum Strikes Oil at Zey Gawra


By John Lee.

Oryx Petroleum today announced a successful oil discovery at Zey Gawra in the Hawler license area.

The ZEG-1 well was flow tested at an average rate of 4,800 barrels per day of light crude oil from an 81 metre column. A Notice of Discovery has been filed by the Corporation with the Kurdistan Region Government. Oryx Petroleum is the operator and has a 65% participating and working interest in the Hawler license area.

Commenting today, Henry Legarre (pictured), Oryx Petroleum’s Chief Operating Officer, stated:

Hawler is proving to be a prolific license area. We are very pleased to have made our third consecutive oil discovery there this year, achieving excellent flow rates of high quality crude from the Cretaceous.

“More work needs to be done to confirm the size of the discovery but we believe it will be substantially larger than our pre-drill estimates. Importantly, the reservoir characteristics in the Cretaceous, notably the matrix porosity, confirm our experience with the other wells we have drilled in the Hawler license area.

“We are already planning our first Zey Gawra appraisal well and we are confident that the discovery will be established as commercial.

Full details can be found here.

(Source: Oryx Petroleum)

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Oryx Plots Path to Oil Production


By John Lee.

As part of its results for Q3 2013, Oryx Petroleum gave the following update on its Iraqi operations:

Demir Dagh Appraisal – The Corporation has significantly progressed its appraisal plan for the Demir Dagh discovery. Oryx Petroleum has a 65% participating and working interest in the Hawler license area. Key highlights include the following:

Early Production Facility (“EPF”) and related infrastructure – The design of the previously announced EPF leased from Expro is complete with the main separation trains under refurbishment and fabrication of storage tanks in progress. The facility is designed to have multiple trains with the ability to process light, heavy, sweet and sour crude types.

The acquisition of land needed for the EPF is complete and civil works to prepare the site are well underway. Equipment has been ordered and is being mobilized to site for both for the planned truck loading facility and the tie-in to the Khurmala-Faysh Khabur pipeline.

Appraisal Drilling – With the completion of the AAS-1 exploration well initial testing, the Sakson Hilong 10 rig has moved to Demir Dagh and will spud the DD-3 well approximately 3 km to the South-East of DD-2. DD-3 is expected to spud in the second half of November with a targeted total depth of 4,135 metres.

The well is intended to appraise the Cretaceous, Jurassic and Triassic age reservoirs that were discovered with DD-2. In particular, DD-3 will appraise formations in the Jurassic and Triassic where inconclusive results of DD-2 allowed for the booking of only prospective or contingent resources. The Corporation expects DD-3 to reach total depth and re-test in Q1 2014.

Another appraisal well (DD-4) is expected to be spudded in late Q4 2013 after the testing of the ZEG-1 exploration well and re-completion of the DD-2 well. DD-4 is expected to be drilled to a total depth of 2,130 metres, approximately 1 km to the South-West and across a major fault of DD-2 in order to appraise the flank of the Cretaceous reservoir and be completed as a producing well.

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Oryx Discovers Oil at Ain Al Safra


By John Lee.

Oryx Petroleum Corporation has announced the discovery and testing of crude oil at Ain Al Safra in Iraqi Kurdistan.

The Ain Al Safra discovery will be appraised in 2014 as part of the multi-well appraisal and development drilling program in the Hawler license area, where Oryx Petroleum is the operator and has a 65% participating and working interest.

Commenting today, Henry Legarre (pictured), Oryx Petroleum’s Chief Operating Officer, stated:

We are very pleased to make a second oil discovery on the Hawler license area. Based on the results of the recently completed test program at Ain Al Safra, we are proceeding with further analysis and appraisal to determine the size and quality of the discovery as well as its potential commerciality. We look forward to working with our partners to appraise this new discovery.

The full announcement can be downloaded here.

(Source: Oryx)

 

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Petrel Resources Falls 7% on Interim Statement


Shares in Petrel Resources fell 7 percent on Tuesday following the publication of the company’s Interim Statement for the period ended 30 June 2013.

Highlights:

  • · Iraqi investment enhanced through 20 per cent shareholding acquisition in Amira Hydrocarbons Wasit B.V. This deal gives Petrel an immediate effective 5 per cent carried interest through to production in exploration and production licences operated by Oryx Petroleum in Wasit.
  • · Heads of Agreement with Woodside, Australia’s largest gas exporter, which will become operator and 85 per cent partner in Petrel’s operations in the Porcupine Basin.
  • · Steps are being taken to expedite the licences on the Tano 2A onshore/offshore block in Ghana, in which Petrel holds a 30 per cent interest in a signed 2010 agreement.

John Teeling, Chairman of Petrel Resources, said:

The last 10 months have been a period of rapid progress and share price appreciation for Petrel Resources: We now have momentum, good partners in Ireland and Iraq and have plans to drive forward.

Iraq

Petrel has strengthened its Iraqi investment and added another string to its Iraqi bow, by acquiring a 20 per cent shareholding in Amira Hydrocarbons Wasit B.V.(“Amira”). Amira, is the holder of a 25 per cent carried interest in oil and gas exploration and production licences in the Wasit Province of central Iraq. The ultimate operator and funder of the work programme is Oryx Petroleum of Canada, established by the team which built and sold Addax for US$7.3 billion.

This strategic partnership strengthens Petrel’s position in Iraq, where it has had a presence since 1999, and allows Petrel to benefit from Amira Industries’ reputation and local capability. Amira Industries has been at the forefront of licence acquisitions in the Iraqi provinces and was the first oil company to sign oil and gas exploration and production contracts with the provincial governments of Salah ad Din and Wasit. The Amira deal gives Petrel an immediate effective 5 per cent carried interest through to production in exploration and production licences operated by Oryx Petroleum in Wasit.

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Oryx Updates on Kurdistan Operations


Oryx Petroleum has announced an update on its activities in the Kurdistan Region of Iraq.

Chief Executive Officer, Michael Ebsary (pictured), stated:

We continue to make great progress on all fronts in our Hawler license area. Progress continues towards first production from the Demir Dagh discovery with an early production facility now contracted and we are advancing the balance of our exploration program.

“Testing of our second exploration well at Zey Gawra will begin in the next few weeks, preliminary indications from the third exploration well at Ain Al Safra are encouraging and we will spud our fourth and possibly most significant exploration well at Banan in the next two weeks.

“The coming months in Kurdistan should be exciting as we continue to unlock the potential we see in the Hawler license area.

Hawler License Area

  • Demir Dagh Discovery: Contract Signed for Early Production Facility

Oryx Petroleum recently agreed to lease an Early Production Facility (EPF) from Expro, an international oilfield services company specializing in well flow management (www.exprogroup.com). The facility will have multiple trains with the ability to process light, heavy, sweet or sour crudes types. The lease period is expected to be two years with options to purchase at any point during the lease.

The EPF will have an initial capacity of 25,000 bbl/d and will be re-engineered to a capacity of 40,000 bbl/d. The facility is expected to be in place in Q1 2014 with first production planned for Q2 2014. The EPF may also be utilized for the appraisal of the other outlying prospective fields Banan and Zey Gawra.

Site preparation has commenced for the EPF which will be located 150 metres from the DD-2 well site and 500 metres from the Khurmala to Faysh Khabur pipeline that is expected to be completed by the end of 2013. A truck tanker loading station with initial capacity of 10,000 bbl/d will also be constructed 9.5 kilometres from the EPF near the main highway to facilitate domestic sales.

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