CMS Energy Corp., Dearborn, Mich., sold its Colombian assets to Compania Espanola de Petroleos SA for an undisclosed price. The transaction is part of a previously announced sale of all of CMS Energy's remaining exploration and production business. The assets include 331,000 undeveloped acres. The closing marks the completion of CMS Energy's exit from the E&P business. Talisman Energy Inc., Calgary, plans to sell its indirectly held interest in the Greater Nile Oil project in Sudan to ONGC Videsh Ltd., a subsidiary of Oil and Gas Corp. Ltd., India's national oil company, for approximately US$758 million. Gross production is about 240,000 bbl. of oil per day. The other consortium members are CNPC International (Nile) Ltd. (40%), Petronas Carigali Nile Ltd. (30%) and Sudapet Ltd. (5%). Devon Energy Corp., Oklahoma City, has sold its Argentine operations to Petrobras for US$90 million. The assets include proved reserves of 67 million BOE. Paladin Resources Plc plans to acquire an 18% interest in the Veslefrikk Field in the Norwegian North Sea from TotalFinaElf, increasing its overall stake to 27%, for US$15 million in cash. The field is producing 30,000 bbl. of oil per day. Proven and probable oil reserves are estimated at 15 million bbl. of oil. Statoil is operator. Lukoil plans to sell its 10% stake in the Azeri-Chirag-Guneshli oil field in Azerbaijan to an unnamed Japanese company for $1.25 billion. The Azeri-Chirag-Guneshli project is operated by BP. Production is approximately 130,000 bbl. of oil per day. Separately, Lukoil may sell its joint ventures in Azerbaijan and Egypt to Agip. The board of Lukoil has not made a final decision. -Crystal Cleveland
Recommended Reading
E&P Highlights: April 15, 2024
2024-04-15 - Here’s a roundup of the latest E&P headlines, including an ultra-deepwater discovery and new contract awards.
E&P Highlights: March 15, 2024
2024-03-15 - Here’s a roundup of the latest E&P headlines, including a new discovery and offshore contract awards.
Deepwater Roundup 2024: Americas
2024-04-23 - The final part of Hart Energy E&P’s Deepwater Roundup focuses on projects coming online in the Americas from 2023 until the end of the decade.
E&P Highlights: May 13, 2024
2024-05-13 - Here’s a roundup of the latest E&P headlines, with a couple fields coming online, as well as new contract awards.
E&P Highlights: May 6, 2024
2024-05-06 - Here’s a roundup of the latest E&P headlines, including technology milestones and new contract awards.