Shell’s Aground Rig Not Leaking, BP Makes Skarv Deadline: Energy Business Review

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The Royal Dutch Shell (NYSE:RDSA)(NYSE:RDSB) oil drilling ship, the Kulluk, became loose from its moorings Sunday night and is not leaking so far, say officials. Capt. Paul Mehler, the Federal on-scene response coordinator, said that the rig is carrying roughly 143,000 gallons of diesel and around 12,000 gallons of lube oil and hydraulic fluid, adding that the rig appeared stable. Sea and weather conditions prevented crews from boarding the ship to look for any damage after the large vessel ran aground off an uninhabited island in the Gulf of Alaska.

On the last day of 2012, BP (NYSE:BP) commenced production from the Skarv oil and gas field that it operates off  the coast of Norway, meeting a reduced new project target with only hours to spare following a month-long delay. Skarv is a large project by North Sea standards and boasts an expected life of 25 years. It should step up output to about 125,000 barrels of oil equivalent per day within the first six months to an aniticipated maximum daily rate of 165,000 by the end of 2013, according to the company.

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InterOil Corporation (NYSE:IOC) said that the Antelope-3 bore reached total depth on December 25th and that the wireline logging program is currently ongoing. Schlumberger’s preliminary independent analysis of the wireline log results shows a carbonate reservoir (limestone and dolomite) with similar reefal reservoir character and quality as the offset Antelope-1 and Antelope-2 wells. These results are consistent with and supplement the excellent results of the initial drill stem test, DST#1.

On Wednesday, Magnum Hunter Resources Corporation (NYSE:MHR) announced  a new Joint Operating Agreement with the private-held firm Eclipse Resources I, headquartered in State College, Pennsylvania. The contract area covers an existing mineral leasehold position presently owned by both firms in the Marcellus Shale and Utica Shale Formations in Monroe County, Ohio. Through the terms, Magnum Hunter’s wholly-owned subsidiary, Triad Hunter, and Eclipse will collectively work together within the contract area on an equal and joint basis on about 1,950 net mineral acres, with the goal of drilling around twelve horizontal wells in the Marcellus Shale and the same in the Utica Shale during the next three years.

Don’t Miss: Here’s How BP Ended 2012.

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