InterOil, Pacific LNG sign supply deal with Noble Clean Fuels

InterOil Corp and Pacific LNG Operations have signed a heads of agreement with Noble Clean Fuels for the supply of one million tonnes per annum (mtpa) of liquefied natural gas (LNG) from the Gulf LNG project in Papua New Guinea (PNG).

The purchase and sale of one mtpa of LNG will be carried out over a period of ten years starting in 2014.

The Gulf LNG project includes Elk and Antelope gas fields and Liquid Niugini Gas, the InterOil and Pacific LNG joint-venture project firm, with modular LNG plants contracted with Energy World.
It also consists of a fixed floating LNG facility being developed with Flex LNG and Samsung Heavy Industries.
InterOil and Pacific LNG intend to complete negotiations and execute binding agreements with Noble later this year.

Noble is a subsidiary of Noble Group, that manages the global supply chain of agricultural and energy products, metals and minerals.

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Ukraine: JSC Shipyard Zaliv Completes SX 134 Shipbuilding Project for Ulstein

JSC Shipyard Zaliv completed works over next shipbuilding order for Norwegian holding Ulstein Hull AS. The seismic research vessel project SX 134 became the sixth built by Zaliv by order of this company.

Kerch shipbuilders commenced works over this vessel in February current year, and the vessel laying in the dry dock occurred on May 10 and on July 27 the vessel was solemnly launched from the dock. The hull delivery occurred with strict keeping of contractual terms and the quality of works execution have been evaluated by the company inspectors to be high.

At the present moment Zaliv continues construction over three more shipbuilding projects also ordered by holding Ulstein. It is scheduled that until the end of 2011 works over two of them shall be completed.

Original Article

Devon sees great potential with Tuscaloosa Shale oil play in Louisiana

August 3, 2011

By Phaedra Friend Troy

US independent Devon Energy (NYSE:DVN) has completed its first well in the emerging Tuscaloosa Shale oil play in the panhandle of Louisiana.

Located along the Louisiana-Mississippi border, the Tuscaloosa Shale is stratigraphically equivalent to the Eagle Ford Shale in South Texas, which is producing oil, liquids and natural gas. Situated in 200- to 400-foot-thick formations, the Tuscaloosa Shale ranges from depths of 11,000 to 14,000 feet below the surface.

During the company’s first quarter announcements, Devon revealed that it had quietly bought 250,000 acres of leasehold from individuals in the Tuscaloosa Shale oil play in Louisiana. Paying $180 an acre, Devon serves as the operator of the effort.

With first drilling starting in May 2011, Devon has completed its first well into the source rock, an assessment well drilled vertically to gather information about the formation. The company completed drilling, coring and logging operations on the Lane 64-1 assessment well.

Devon has since spud its second well in the Tuscaloosa Shale; and this one is a horizontal well. The Beech 68-1H is updip from the first well, and Devon plans to obtain additional core and log data before drilling the lateral and completing the well as its first horizontal in the Tuscaloosa Shale.

“We will have to find out through drilling, but we think there’s some potential there because of the history of producing oil there,” Chip Minty, media relations manager for Devon told PennEnergy.

An innovator in shale development, Devon first became active in the Barnett Shale in Central Texas in 2001, when the company bought Mitchell Energy & Development Corp. 10 years ago. Devon was one of the first firms to employ horizontal drilling and hydraulic fracturing to extract hydrocarbons trapped in the tight formations.

Over the last year, Devon has also purchased acreage in the Utica Shale in Ohio and Michigan, as well as the Niobrara Shale play.

Original Article