Alan von Altendorf

Petrobras: New Regulatory Model Points to Stock Issue

We reiterate and affirm our SELL rating on Petrobras.

The End of the Oil Age? Not Quite

Satire? - "enlighted [sic] states like Utah and Oklahoma"

Medvedev on Why Russia's Near Term Outlook Is Grim

Well made, clever Russian aircraft? tractors? shoes?

Is Exxon Betting on $100 Oil?

Rule of bootlicking, not rule of law?

The Ghanaian government is angry at Kosmos for what it perceives is a flouting of its laws -- in particular the sharing of oilfield data. Ghana's oil minister and the head of GNPC have both said they do not consider the Kosmos-Exxon deal done, and that they have the right to cancel any contract...

In June, relations between Kosmos and Ghana officials hit a rocky patch when the Ghanaian minister of energy felt insulted during negotiations with Kosmos officials.

"He doesn't understand African courtesies when negotiating," the person said, referring to the Kosmos executive. "So he easily infuriated the minister." A week later, the minister and the CEO happened to be seated next to each other on a flight to London and an awkward exchange took place...

[Rigzone / Dow Jones / Wall Street Journal]

Is Exxon Betting on $100 Oil?

From bad to worse in Ghana.

State-run Ghana National Petroleum Corp (GNPC) believes Kosmos Energy's deal to sell its stake in the huge Jubilee oil field to ExxonMobil is illegal and is ready to buy the stake itself, a GNPC source said. [Upstream Online www.upstreamonline.com...]

Petrobras: More Transparency Would Be Nice

I'm three continents away and have no right to speculate, however I suspect Petrobras was unhappy with the flow rate, tried to swab the well, and rattled the tree too much. Goo everywhere. That's why all the silence.

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Cetin Strikes Back?
Revenge of The Pink Pansy?

Petrobras: More Transparency Would Be Nice

Bad bolts on an FMC tree? www.upstreamonline.com...

So, who did the remotely piloted installation? FMC probably. Huge silence from all concerned. And this had absolutely nothing to do with reservoir pressure, flow assurance, or balls of goo?

Meanwhile pre-salt reserves keep growing. Lula's chief of staff Dilma Rousseff surpasses the 80-billion barrel forecast made in November 2008. [Bloomberg]

Petrobras: More Transparency Would Be Nice

Note to SA editors: PennEnergy www.pennenergy.com/ind... and better known Oil & Gas Journal are published by privately held PennWell Corp - not PWE

Is Exxon Betting on $100 Oil?

Absolutely verboten. I'd bet $5 mil on Saginaw Bay jackups.

Is Exxon Betting on $100 Oil?

Jeep, just a guesstimate based on historical onshore production in Michigan from those two formations. The provincial govt of Ontario estimates 11 million cubic meters of oil in Lake Huron.

Is Exxon Betting on $100 Oil?

MJE_PDX, thanks, especially your comments on price discovery.

Is Exxon Betting on $100 Oil?

Ooops, big surprise, state-run Ghana National Petroleum Corp wants to buy Kosmos Energy's stake in the giant Jubilee oilfield, a GNPC source said today. There are still many unknowns about the final deal, some of which could ultimately lead to Ghana controlling part or all of Kosmos' stake in Jubilee, US-based analysts said.

"There may or may not be preemptory rights," Mark Gilman, energy analyst at The Benchmark said.

"Even if they are not built in, we're dealing with a sovereign nation."
[Upstream Online]

Is Exxon Betting on $100 Oil?

off topic, IMO 200 mmbbls in the St Peter sand under Lake Michigan, 300 million in the Michigan Formation under Lake Huron. We have our own Jubilee in state waters of the US state that needs it most.

Is Exxon Betting on $100 Oil?

FYI - Petroleum Economist reports that Jubilee phase-one development has been planned with nine production wells together with five for water-injection and three for gas-injection. Tullow ordered a FPSO that can inject 200,000 bpd water.

Doesn't sound like much of a water drive to me, and if memory serves Tullow's wells didn't see OWC. Might be sealed.