Otto Energy Company News
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Hilcorp Energy Completes Second Lightning Field Well
Wednesday, February 26, 2020There is now the potential to continue to significantly improve this already large gas and condensate accumulation.
Philippines DOE Grants Moratorium on Palawan Basin's SC55 Work Program
Friday, June 17, 2016The Philippines' Department of Energy grants a 2 year moratorium on the work program for Service Contract 55 in the Palawan Basin off the Philippines.
Otto Launches Legal Action Against Swala Over Tanzania's Pangani License
Friday, May 13, 2016Otto Energy launches legal action against Swala Energy over the Pangani license in Tanzania.
Otto Energy Updates on Drilling at SM-71 #1 Discovery in the Gulf of Mexico
Wednesday, April 27, 2016Otto Energy updates on drilling operations at the SM-71 #1 oil discovery in South Marsh Island Block 71 in the Gulf of Mexico.
Byron Energy Finds Oil, Gas at South Marsh Island Block 71 in GOM
Wednesday, April 20, 2016Byron Energy finds oil and gas at SM-71 #1 well at South Marsh Island Block 71 in the Gulf of Mexico.
Australia's Red Emperor Updates on its Philippines, Georgia Assets
Friday, January 29, 2016Australia's Red Emperor Resources updates on developments at its upstream assets in the Philippines and Georgia.
Otto Energy to Farm-in to Byron Energy's GOM Projects for $17.3M
Friday, December 11, 2015Australia's Otto Energy is to farm-in to three of Byron Energy's existing projects in the Gulf of Mexico for up to $17.3 million.
Australia's Otto Energy Names John Jetter as Chairman, Succeeds Rick Crabb
Wednesday, November 18, 2015Australia's Otto Energy names John Jetter as chairman of the company to succeed Rick Crabb.
Otto Energy Reports Disappointment Over Hawkeye-1 Well Off Philippines
Monday, August 17, 2015Otto Energy reports disappointment over Hawkeye-1 prospect in Service Contract 55 offshore the Philippines as the hydrocarbons found are not economic to develop.
Otto Acquires Borealis, Gains Option to Take Minor Stakes in ANS Acreage
Thursday, August 06, 2015Australia's Otto Energy acquires Borealis Petroleum, giving the firm the option to purchase an 8 percent and 10.8 percent working interests in two areas of Alaskan North Slope exploration acreage held by Great Bear.
Otto Energy Spuds Hawkeye-1 Prospect in SC 55 Offshore Palawan Basin
Monday, August 03, 2015Otto Energy spuds Hawkeye-1 exploration well in Service Contract 55, offshore Palawan Basin in the Philippines.
Pryce Gases to Buy Stake in SC55, Maersk Venturer to Spud Hawkeye-1 Soon
Thursday, July 30, 2015Pryce Gases to acquire a 10 percent stake in Service Contract 55 offshore the Philippines as the Maersk Venturer drillship prepares to drill the Hawkeye-1 well in the block.
Red Emperor Completes Otto Energy Farm-in Agreement
Monday, July 27, 2015Red Emperor Resources completes its farm-in agreement with Otto Energy Limited, following a formal notification of approval from the Department of Energy of the Republic of the Philippines.
Otto-led Consortium Prepares to Drill South China Sea Well
Monday, July 20, 2015An Australian-Filipino concortium led by Otto Energy is about to drill a deepwater exploration well offshore the Philippines in the South China Sea.
Maersk Venturer to Mobilize to Hawkeye-1 Well in Palawan Basin in Late July
Thursday, July 02, 2015The Maersk Venturer drillship will mobilize to drill the Hawkeye-1 exploration well in Service Contract 55 in the Palawan Basin, offshore Philippines in late July.
Red Emperor Raises Funds to Drill Hawkeye-1 Well Offshore Philippines
Friday, June 26, 2015Red Emperor raises $4.53 million to fund drilling of the Hawkeye-1 exploration well in Service Contract 55 offshore the Philippines in late July.
Otto Energy Appoints Matthew Allen as Managing Director, Continues as CEO
Thursday, June 25, 2015Otto Energy appoints Matthew Allen as managing director, while continuing as CEO.
Otto Energy Secures Maersk Venturer Drillship Contract
Tuesday, May 05, 2015Otto Energy secures Maersk Venturer drillship for the Hawkeye-1 exploration well in Service Contract 55 offshore Palawan, the Philippines.
Red Emperor Updates on Operations in Philippines, Somalia and Georgia
Wednesday, April 22, 2015Australia's Red Emperor provides an update on its operations in the Philippines, Somalia and Georgia.
Otto Pares Stake in Philippines' SC55, Secures Drillship for Hawkeye-1 Well
Monday, March 02, 2015Otto Energy farms out a 15 percent stake in Service Contract 55 off the Philippines to Red Emperor Resources and signs a letter of intent for Maersk Venturer to drill the Hawkeye-1 exploration well in the block.
Otto Energy Completes Sale of Galoc Production Co. Stake to Nido for $106M
Tuesday, February 17, 2015Otto Energy completes sale of its interest in Galoc Production Co. to Nido Petroleum for around $106 million.
PNOC-EC to Farm-in to Phillippines' SC55, Otto Seeks Rig to Drill Hawkeye-1
Friday, January 09, 2015Otto Energy reveals that PNOC-EC will farm-in for a 15 percent interest in Service Contract 55 offshore the Philippines, with the firm seeking a rig to drill the Hawkeye-1 well later this year.
Swala Completes 2D Seismic Program Over Kilombero Basin in Tanzania
Tuesday, January 06, 2015Swala Oil and Gas completes 2D seismic program over the Kilombero Basin in central Tanzania.
Otto Energy Accepts Nido's $108M Offer to Acquire Galoc Production Company
Friday, December 12, 2014Otto Energy accepts Nido Petroleum's $108 million offer to acquire its 100 percent stake in Galoc Production Company.
Otto Energy Secures Extension of Service Contract 55 in the Palawan Basin
Wednesday, November 26, 2014Otto Energy receives government approval for an extension of Service Contract 55 in the Palawan Basin, offshore Philippines by a year.
Swala Concludes 2D Seismic Acquisition in Tanzania's Pangani License
Thursday, October 02, 2014Swala Energy concludes 2D seismic acquisition program over the Moshi Basin in the Pangani license in northern Tanzania.
Risco Energy to Acquire Galoc Oil Field Operator GPC for $101.4M
Monday, September 22, 2014Risco Energy inks $101.4 million deal to acquire Galoc Production Company, which has a 33 percent operating interest in Galoc oil field in Service Contract 14C offshore the Palawan in the Philippines.
Swala Begins Seismic Survey Over Moshi Basin in Tanzania's Pangani Permit
Monday, August 25, 2014Swala Energy commences 2D seismic data acquisition program over the Moshi Basin in the Pangani exploration license in northern Tanzania.
Galoc JV to Decide on Drilling in Phillipines' SC14C in End 2014/Early 2015
Thursday, August 21, 2014Otto Energy says the Galoc joint venture in SC14C offshore the Philippines will make a decision on further drilling activities in late 2014 or early 2015.
Otto Energy Repays Financing Facility Offered for Galoc Phase II in SC14C
Tuesday, July 01, 2014Otto Energy repays fully the $35.9 million financing facility that BNP Paribas extended to the firm for Galoc Phase II development in Service Contract 14C offshore the Philippines.
Philippines DOE Confirms Varied Work Program for SC55 in Palawan Basin
Tuesday, May 06, 2014Otto Energy receives the Department of Energy's confirmation of a varied work program for Service Contract 55 in southwest Palawan Basin offshore the Philippines.
Otto Energy Withdraws from SC51 in Leyte on Drilling Safety Concerns
Friday, May 02, 2014Otto Energy withdraws from Service Contract 51 in onshore Leyte in the Philippines due to drilling safety concerns.
Otto Energy Plans to Drill an Exploration Well in SC55 off the Philippines
Tuesday, March 11, 2014Otto Energy plans to drill an exploration well in Service Contract 55 offshore the Philippines by October as required under sub-phase 1 work commitment.
Otto Energy Updates on Galoc Oil Field Reserves offshore the Philippines
Monday, March 10, 2014Otto Energy provides an update on Galoc oil field reserves in Service Contract SC14C north west of Palawan Island, offshore the Philippines.
Otto Energy Names Matthew Allen as CEO to Succeed Gregor McNab
Tuesday, February 25, 2014Otto Energy names Matthew Allen as CEO following the resignation of Gregor McNab.
Otto Energy Takes Over BHP Billiton's Stake in SC55
Tuesday, January 21, 2014Otto Energy executes final binding agreements with BHP Billiton to terminate the farm-out deal for Service Contract 55, offshore the Philippines.
Galoc Phase II Oil Development in SC14C Commences First Production
Thursday, December 05, 2013Otto Energy announces that first oil commences from Galoc Phase II development in Service Contract 14C in the Palawan Basin, Philippines.
Otto Energy Executes LOI to Assume BHP Billiton's Interest in SC55
Thursday, November 28, 2013Otto Energy executes a letter of intent with BHP Billiton Petroleum (Philippines) Corporation to assume the latter's interest in Service Contract 55 offshore the Philippines.
Work Resumes at Galoc Oil Field After Passage of Super Typhoon Haiyan
Tuesday, November 12, 2013Otto Energy resumes production and development work at the Galoc oil field in Service Contract 14C offshore the Philippines after Super Typhoon Haiyan swept through the area.
BHP Billiton Opts Out of Drilling Cinco-1 Prospect, Withdraws from SC55
Thursday, November 07, 2013Otto Energy reports that BHP Billiton Petroleum (Philippines) Corporation has opted not to participate in drilling the Cinco-1 prospect and to withdraw from Service Contract 55 offshore the Philippines.
Ocean Patriot Completes Drilling Assignment at Galoc Oil Field in SC14C
Monday, November 04, 2013Otto Energy reports that the Ocean Patriot semisub has completed its drilling assignment at Galoc oil field in Service Contract 14C off the Philippines.
SC55 Joint Venture Gets Clearance to Drill Cinco-1 Prospect
Wednesday, October 30, 2013Otto Energy reveals that the Service Contract 55 joint venture has received clearance to drill the Cinco-1 prospect in the southwest of the Palawan Basin, off the Philippines.
Otto to Prepare Galoc-6H Well for Hook-Up Operations in November
Tuesday, October 22, 2013Otto Energy reports that the Galoc-6H well in Service Contract 14C off the Philippines is being prepared for hook-up operations in November.
Ocean Patriot to Begin Work at Galoc-6H Well in SC14C Shortly
Wednesday, October 16, 2013Otto Energy plans to move the Ocean Patriot semisub to complete work at the Galoc-6H well in Service Contract 14C off the Philippines.
Otto Energy Finishes Work on G-6H Well Upper Completion at Galoc Field
Thursday, October 10, 2013Otto Energy ends work on G-6H well upper completion at the Galoc oil field in Service Contract 14C off the Philippines.
Otto Energy Relinquishes Stake in SC69 in the Philippines
Wednesday, October 09, 2013Otto Energy decides to relinquish its 79 percent stake in Service Contract 69 offshore the Visayas in the Philippines.
Ocean Patriot Commences Completion Operations at G-6H Well in SC14C
Thursday, October 03, 2013Otto Energy announces that Ocean Patriot semisub has commenced upper completion operations at G-6H well in the Galoc oil field in Service Contract 14C off the Philippines.
Otto Energy Updates on Operations at Galoc Phase II Development in SC14C
Friday, September 27, 2013Otto Energy updates on field operations at Galoc Phase II development in Service Contract 14C off the Philippines.
Otto Energy Concludes Drilling Phase of Galoc II Development Project
Wednesday, September 18, 2013Otto Energy concludes the drilling phase of Galoc Phase II development project in Service Contract 14C offshore the Philippines.
Otto Energy Updates on Drilling at Galoc Oil Field
Thursday, September 12, 2013Otto Energy provides drilling update at the Galoc oil field in Service Contract 14C offshore the Philippines.