Kenya's Deepwater Debut Heralds East Africa's First Oil

Source: Bloomberg, Eduard Gismatullin (7/11/12)

"'East African exploration is at a very early stage, and yet success so far has been very significant. The industry is following behind and trying to establish positions.'"

Bloomberg, Eduard Gismatullin

Apache Corp. (APA) will drill Kenya's first deepwater oil well next month, a prospect that could add a $70 billion crude find to the record natural-gas discoveries along East Africa’s coast.

East Africa has become one of the world's most active exploration areas since Anadarko Petroleum Corp. (APC) made the decade's biggest gas discovery off Mozambique. An oil find would be a boon for Kenya as the commodity is easier to sell than the gas found in neighboring Tanzania and Mozambique, which will require spending at least $50 billion on export plants. The Lamu basin, where Mbawa is sited, may hold as much as 5 billion barrels, according to one of the well’s partners.

"Exploration of East Africa is at a very, very early stage, and yet success so far has been very significant," Andrew Whittock, a London-based analyst at Liberum Capital Ltd., said by phone. "Most industry is following behind and trying to establish positions.". . .View Full Article

Option Partner to Continue Operations at Energy Firm's Texas Oil & Gas Project
Source: Streetwise Reports (01/23/2021)

The efforts will meet Torchlight Energy Resources' development requirements at Hazel.

Target Price Raised on Energy Firm Making 'Transformative Acquisition'
Source: Streetwise Reports (01/06/2021)

The terms and benefits of Earthstone Energy's purchase of an oil and gas company, an "eye-catching act of deal making," are presented in a ROTH Capital Partners report.

Energy Firm to Combine with Materials, Nanocomposites Company
Source: Streetwise Reports (12/16/2020)

Torchlight Energy Resources sees the transaction providing its shareholders "access to the multibillion-dollar markets that Metamaterial serves."

Oil & Gas Producer Reports on Thailand Operations
Source: Streetwise Reports (12/02/2020)

Pan Orient Energy Corp. reports on continuing drill operations in Thailand.

Energy Company Boosts Thailand Oil Production, Offers 'Low Risk Production Growth'
Source: Streetwise Reports (11/19/2020)

The highlights of Pan Orient Energy's third quarter are presented in a Mackie Research Capital Corp. report.

Texas Oil & Gas Firm to Sell Its Stake in Delaware Basin Project
Source: Streetwise Reports (11/18/2020)

For its interest, Torchlight Energy Resources is to receive $350,000.

Oil & Gas Firm Reports Q3 Operational, Financial Results
Source: Streetwise Reports (11/16/2020)

Pan Orient Energy and its joint venture partner continue producing and selling oil from its L53 Concession in Thailand, which are funding ongoing exploration work there.

Texas Oil & Gas Explorer Completes Fracking of Midland Basin Well
Source: Streetwise Reports (11/11/2020)

The next step for Torchlight Energy's well at Hazel is flowback, which is to start next week.

Altus Midstream Shares Flow Higher on Q3 Earnings and Plans for $1.50/Share Dividend in Q1/21
Source: Streetwise Reports (11/05/2020)

Shares of Altus Midstream Co. traded 170% higher after the firm reported Q3/20 financial results and announced plans to pay a quarterly dividend of $1.50 per share beginning in March 2021.