Unocal Corporation's Spirit Energy 76 unit announced its Spirit Energy Partners, L.P., affiliate has agreed to acquire substantially all the Gulf of Mexico shelf assets of Tana Oil and Gas Corporation. The Tana acquisition includes interests in 12 proven properties and nine offshore platforms. The purchase price was not disclosed. Tana has an estimated net risked resource potential of more than 18 million barrels of oil equivalent (MMBOE), including more than 10 MMBOE in proved reserves. Estimated average annual production for 2000 is more than 10,000 BOE per day. "The acquisition of the Tana assets will provide the opportunity to enhance Spirit Energy's position in areas where we already possess a strong foothold and enjoy highly profitable operations," said John T. Donohue, president of Spirit Energy 76. "These assets can be integrated immediately into our portfolio." The transaction became effective Oct. 1, 1999. Closing is expected February 3, 2000. A majority of the purchase price will be financed by Spirit Energy Partners, an entity formed by Unocal and The Northwestern Mutual Life Insurance Company to acquire producing properties in existing areas of operation. Unocal's 50-percent interest will be accounted for on an equity basis.
discovery on the Mad Dog prospect in the Gulf of Mexico deepwater Green Canyon block 826. The well encountered 300 net ft. of hydrocarbons, primarily crude oil. Spirit Energy holds a 25-percent interest in the 2.5-block drilling unit encompassing most of the Mad Dog structure. Based on the available data, the company believes its net resource potential for the Mad Dog drilling unit is likely in excess of 100 million boe and possibly as high as 200 million boe.
Unocal Corporation's Spirit Energy 76 unit said the appraisal well drilled on the Mad Dog prospect in Green Canyon block 782 encountered 250 ft. of oil pay in zones that appear to correspond to those penetrated by the discovery well. The appraisal well was drilled to a measured depth of 20,268 ft. about two miles north of the discovery well. A sidetrack to the main appraisal well was drilled to 21,560 ft., and the results are under evaluation.
The Spirit of Vancouver Island will be removed from service on the Swartz Bay to Tsawwassen route for its annual refit and a major passenger services upgrade on Tuesday, January 3, 2006. Similar to the 2005 upgrade of the Spirit of British Columbia, the Spirit of Vancouver Island will see all the interior passenger areas completely renovated. Among the improvements to the 1994 vessel will be an upgraded cafeteria, a redesigned buffet, renovated washrooms, new seating
In connection with a recent Shipping Industry meeting in Beijing the four Chairmen of the Round Table of international shipping associations (RT) which comprises BIMCO, ICS, Intercargo and Intertanko, met to discuss issues of common interest including piracy, the plight of the “Hebei Spirit” officers and practical measures to reduce Greenhouse Gas emissions from ships. The state of lawlessness and recent escalation of piracy attacks in the Gulf of Aden is of enormous concern to
Teekay Offshore Partners L.P. (NYSE:TOO) announced that is has completed the acquisition of the Cidade de Rio das Ostras floating production storage and offloading (FPSO) unit from Teekay Corporation (NYSE:TK) for a purchase price of approximately $158m. The partnership also announced that its 51 percent-owned subsidiary, Teekay Offshore Operating L.P. (OPCO), has acquired the newbuilding shuttle tanker, the Amundsen Spirit
STEALTHGAS Inc. announced has taken delivery of Feisty Gas and Gas Spirit, vessels which it had previously agreed to acquire. Feisty Gas is a Fully-Pressurized (F.P.) LPG carrier built in Japan in 2001 with a capacity of 4,250 cubic meters (cbm). It will be deployed under an existing time charter to an oil major at a rate of $199,000 per calendar month until August 2006. Gas Spirit is a Fully-Pressurized (F.P.) LPG carrier built in Japan in 2001 with a capacity of 4
The Spirit of Tasmania III has docked in Devonport for the final time. The Sydney-to-Devonport ferry made a low-key entrance to northern Tasmania on Monday, almost two months after its sale to Mediterranean operator Corsica Ferries. Spirit III's final voyage lacked the fanfare of its launch in January 2004, when it was billed as a tourism boon to the island state. Tasmanian Premier Paul Lennon announced the ferry's sale in June, saying the loss-making vessel was no longer viable.
Carnival Cruise Lines, a unit of Carnival received its newest fun ship – the $375 million, 88,500-ton Carnival Spirit, during the traditional "hand-over" ceremony at the Kvaerner Masa-Yards in Helsinki, Finland, where the 2,124-passenger vessel was built. The Carnival Spirit, the 15th vessel in the company’s fleet and the first in a new class of ship for the line, will depart Helsinki Thursday, April 12 on its transatlantic crossing and is expected to arrive Miami on Tuesday, April 24.
Rickmers-Linie, the Hamburg based operator of heavy lift and project liner services, has been selected by Spirit AeroSystems as its partner for the transportation of fuselage sections for Airbus from Morehead City, North Carolina (NC), to Montoir (Port of Nantes St. Nazaire) in Northern France. The contract covers the transportation of fuselage sections and will run over a period of several years. The fuselage sections are designed for the Airbus A350 XWB series.
The Australian Renewable Energy Agency today celebrated a major milestone with the installation of the first solar panels at AGL’s large-scale solar plant in Nyngan, NSW. ARENA’s CEO Ivor Frischknecht joined federal and state officials, key stakeholders
U.S. federal regulators on Wednesday approved construction of Freeport LNG Development LP's liquefied natural gas export project in Texas. Freeport is the third U.S. LNG export project to get the green light to begin construction from the Federal Energy Regulatory Commission
The U.S. Energy Department said on Thursday it has approved Oregon LNG to export liquefied natural gas, as the Obama administration works through applications to export fuel from the domestic drilling boom to markets in Asia and Europe. Oregon LNG, which is controlled by Leucadia National Corp
Fortis Inc. achieved second quarter net earnings attributable to common equity shareholders of $47 million, or $0.22 per common share, compared to $54 million, or $0.28 per common share, for the second quarter of 2013. For the first half of 2014
U.S. ports throughout the Great Lakes uniformly saw increased tonnage in several cargo categories during the monthof June 2014, according to news excerpted from The American Great Lakes Ports Association (AGLPA). "Salt, chemicals, and steel all posted excellent tonnage numbers through June
Mexico on Friday put into effect an agreement signed in 2012 with the United States to allow companies to exploit deep water oil resources in the Gulf of Mexico that straddle the countries' maritime boundaries. The deal, published in the government's gazette
The positive development within the offshore industry has made its impact on DONG Energy, which is a significant player in the market. The increased activity has made it necessary to extend the company's office and storage facilities in the Port of Esbjerg
Mexico's Senate gave general approval on Monday to legislation laying out expanded powers for energy regulators, part of the fine print needed to implement a constitutional reform that overhauls the oil, gas and electricity sectors. Senators must still debate reservations to the regulatory
Congressman Frank Pallone has issued the following statement in response to the Department of the Interior’s announcement of the proposed lease sale for nearly 344,000 acres off of the New Jersey coast for commercial wind energy development
Committees in Mexico's lower house on Saturday approved laws fleshing out a landmark energy reform that seeks to drive private investment into the long-shuttered sector. The so-called secondary laws, which detail the implementation of the constitutional energy reform passed last year
The downing of flight MA17 has prompted calls for further sanctions on Russia targeted at its energy sector. Douglas-Westwood in its 'DW Monday' analysis considers whether such sanctions could have sufficient teeth. Russia is the world’s largest exporter of natural gas and second
Corvus Energy today announced that it has completed a strategic investment by Green Marine Capital (GMC) previously announced on May 5, 2014. Green Marine Capital, an investment partnership of global maritime companies that draws on the maritime heritage of the BW Group and DNV GL to assist Corvus
Russia and the world's top energy user China may jointly develop six floating nuclear power plants (NPPs), Russia's nuclear export body said on Tuesday, a further joint energy project since the signing of a $400 billion gas supply deal. Rusatom Overseas
New Standard Energy Limited (New Standard) advises that it has received approval for amendments to its five year work program in PEL570 in the Cooper Basin. As part of the revised program, New Standard now has seismic and drilling to commence in Year Two before the new deadline of March
First company to receive ISO50001 certification from Nihon Kaiji Kyokai. MOL Ship Management Co., Ltd. (MOLSHIP), a core ship management company in the corporate group headed by Mitsui O.S.K. Lines, Ltd. (MOL), has announced acquisition of certifications from Nihon Kaiji Kyokai (NK;