Asia
Thursday, 04 October 2012 14:41
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NEW DELHI: Indian state-run firms Oil India Ltd and Indian Oil Corp have jointly bought a 30 percent stake in Houston-based Carrizo Oil & Gas's Niobrara shale asset in Colarado for $82.5 million, the companies said in a statement.
Oil India will acquire 20 percent and Indian Oil Corp will get 10 percent in Carrizo's Niobrara basin acreage assets through their respective subsidiaries.
"The total investment for the two companies would be around $82.5 mln , including upfront cash payment of $41.25 million and a carry amount of $41.25 million, linked to Carrizo's future drilling and development cost," the statement said.
Carrizo has 61,500 gross acres in the Niobrara basin, of which the Oil India-IOC consortium will have 18,450 acres, spread over three counties in Texas.
Copyright Reuters, 2012 ...
YANGON: Myanmar wants to renegotiate natural gas export deals with neighbouring Thailand, a senior Energy Ministry official said, as the country maps out ways to tackle crippling domestic power shortages and reassure potential investors.
Myanmar's government is hoping to reach an agreement to retain 200 million cubic feet per day of natural gas from the 1 billion cubic feet per day it currently exports to Thailand, which comes mainly from offshore blocks, the official added.
"Under the ...
SINGAPORE: Brent futures edged up towards $109 per barrel on Thursday as a steep drop in the previous session brought in bargain hunters, while investors awaited further cues from a European Central Bank policy meeting and critical US jobs data.
Oil markets also appeared to win some stability from the equity markets, where Japanese stocks inched up and the broader market indicator held steady.
On Wednesday, Brent had dropped 3 percent and US crude 4 percent as ...
SINGAPORE: Crude turned higher in Asia on Thursday as traders cheered US data showing better-than-expected private sector hiring and a pick up in the service industry, analysts said.
New York's main contract, light sweet crude for delivery in November gained 17 cents to $88.31 a barrel and Brent North Sea crude added 37 cents to $108.54.
Data from the United States released late Wednesday added to an upbeat outlook for the world's largest economy and oil consumer, ...
SINGAPORE: Crude was down in Asian trade Thursday as worries over Spain and a slowing Chinese economy highlighted a weak global economic outlook, analysts said.
New York's main contract, light sweet crude for delivery in November, shed 20 cents to $87.94 a barrel and Brent North Sea crude slipped three cents to $108.14.
"Crude oil prices dipped slightly on the weak outlook for economic growth," said Sanjeev Gupta, who heads the Asia-Pacific oil and gas practice at ...
DUBAI: Iran expects to open a natural gas liquids (NGL) plant near its main oil export facility on Kharg Island before March 2014, Iran's oil ministry news service reported on Wednesday.
The project will gather associated gases from Iran's oil fields to produce up to 600 million cubic feet of gas liquid per day, Shana reported a National Iranian Offshore Oil Company official as saying during a ministry visit to the Gulf oil export island on ...
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