IGas Clinches Significant Drilling Capacity with Meehan JV
IGas has entered into a Heads of Agreement to create a commercial joint venture with Meehan Drilling which will immediately give IGas direct access to at least 120 days drilling capacity (rig equipment and personnel) in 2011 and further capacity if required on a preferential basis.
Meehan Drilling has drilled for several operators in the UK and the joint venture specifically involves its Schramm TXD rig. This rig is regularly used in the US for drilling for unconventional gas and has a proven track record of economic delivery of wells.
John Blaymires IGas Chief Operating Officer said, "This joint venture will have significant strategic and tactical importance as the company continues to grow. This joint venture secures for IGas the ability to fulfill the 2011 objective of delivering a commercial production site, while widening the scope of our activity and will be a critical element of the 2012+ delivery capability. This is the first of a number of steps we are taking to advance our plans following the announcement of our planned acquisition of Nexen Exploration UK Ltd."
- How Likely Is an All-Out War in the Middle East Involving the USA?
- Rooftop Solar Now 4th Largest Source of Electricity in Australia
- US Confirms Reimposition of Oil Sanctions against Venezuela
- Analyst Says USA Influence on Middle East Seems to be Fading
- EU, Industry Players Ink Charter to Meet Solar Energy Targets
- Russian Ships to Remain Banned from US Ports
- Brazil Court Reinstates Petrobras Chair to Divided Board
- EIB Lends $425.7 Million for Thuringia's Grid Upgrades
- Var Energi Confirms Oil Discovery in Ringhorne
- Seatrium, Shell Strengthen Floating Production Systems Collaboration
- An Already Bad Situation in the Red Sea Just Got Worse
- What's Next for Oil? Analysts Weigh In After Iran's Attack
- USA Regional Banks Dramatically Step Up Loans to Oil and Gas
- EIA Raises WTI Oil Price Forecasts
- How Likely Is an All-Out War in the Middle East Involving the USA?
- Venezuela Authorities Arrest Two Senior Energy Officials
- Namibia Expects FID on Potential Major Oil Discovery by Yearend
- Oil Markets Were Already Positioned for Iran Attack
- Is The Iran Nuclear Deal Revival Project Dead?
- Petrobras Chairman Suspended
- Oil and Gas Executives Predict WTI Oil Price
- An Already Bad Situation in the Red Sea Just Got Worse
- New China Climate Chief Says Fossil Fuels Must Keep a Role
- Oil and Gas Execs Reveal Where They See Henry Hub Price Heading
- Equinor Makes Discovery in North Sea
- Macquarie Strategists Warn of Large Oil Price Correction
- DOI Announces Proposal for Second GOM Offshore Wind Auction
- Standard Chartered Reiterates $94 Brent Call
- Chevron, Hess Confident Embattled Merger Will Close Mid-2024
- Analysts Flag 'Remarkable Feature' of 2024 Oil Price Rally