The Occidental-Anadarko takeover plus the completion of Encana and Chesapeake’s multibillion-dollar mergers top our list of upstream deal-making from the first half of 2019.
State-run Polish gas firm PGNiG has agreed to buy Equinor's 42.38% stake in the Tommeliten Alpha gas and condensate field on the Norwegian Continental Shelf for $220 million, as part of its plan to diversify supplies, PGNiG said on Oct. 18.
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, Reuters said.
Gas flowed from the well at a rate of 4.32 MMcf/d on a 16/64-in. choke from a 41.3 meter interval in the Rotliegend sandstone, FX Energy said in a news release.
The terminal, being built in Swinoujscie, is Poland's flagship project to diversify gas supplies and reduce dependence on Russia. Its scheduled opening has been delayed several times, Reuters said.
PGNiG compared the German deposit’s potential to one of its biggest western Poland deposits - Lubiatow-Miedzychod-Grotow - which was initially estimated at around 7 million tonnes of oil, Reuters said.
Gas firm PGNiG and chief refiner PKN Orlen will jointly research eight exploration licenses near the Bieszczady Mountains in southeastern Poland, PKN said, Reuters reported.
The Polish Geological Institute said 10% of tight gas from about 70 trillion cubic feet is recoverable. Exploring about 768 billion cubic meters of recoverable shale didn't increase production, Reuters said.
Chevron joins at least four other international energy producers who abandoned Poland because of disappointing results.