Poland's second-biggest oil refiner Lotos has launched test production at its oil field at the Baltic Sea, the group's key upstream project, the company said on Oct. 6.
The B8 field is estimated to have about 3.5 million tonnes of oil where Lotos has said it plans to produce ultimately some 250,000 tonnes.
Lotos Chief Executive Pawel Olechnowicz said last month that commercial output at the B8 field would be launched in 2016.
After commercial output begins, the company has said B8 would produce up to 5,000 oil barrels per day to be the third biggest production field in Poland. Lotos is now producing 24,000 barrels a day.
BlackGold Capital said 72% of the net royalty acres in the acquired portfolio are leased by operators in the top quartile of active horizontal rig counts in the Midland Basin.
U.S. pipeline operator Kinder Morgan reported a 26% rise in quarterly profit on Jan. 22, benefiting from higher gas takeaway from Permian Basin through its Gulf Coast Express pipeline.
Collicutt Energy Services Ltd., Calgary, (Toronto: COH) reports Thomas E. Lewis has resigned as vice president, finance, and chief financial officer to pursue other personal and business interests. Cooper Cameron Corp., Houston, (NYSE: CAM) has named Lorne E. Phillips treasurer. Phillips was general manager of Cooper Cameron Valves Canadian operations. Dresser Inc., Austin, Texas, has named Neil H. Thomas worldwide president of its Dresser Wayne division, a supplier of fuel dispensers, pumps, peripherals and point-of-sale and site monitoring systems and software for the retail fueling industry. Thomas was president of...