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Granite PR Reports Turnover Increase As Company Goes Global

#Naimur Rahman 03 Feb 2019
05 Comments 33K Views

Aberdeen-based Granite PR has celebrated its fourth birthday with news that the company has experienced double digit growth in the last year.

The announcement came as the company hosted a networking event at the city’s Simpson’s Hotel, Bar and Restaurant which was attended by more than 200 clients, associates and friends recently.

For the financial year just ended, Granite PR increased turnover by more than 60% to just over £190,000 compared with almost £113,000 in the previous year.

Wednesday’s event also saw the company announce that it has secured its first contract in the USA and will be providing PR support for Varel, the world’s largest independent supplier in the global oil and gas drill bit market.

Founded in 1947, Varel is headquartered in Carrollton, Texas and services oil and gas, mining and industrial markets with its comprehensive suite of roller cone and fixed cutter drill bits. The company employs more than 1,000 people and has manufacturing facilities in Texas, Mexico and France as well as sales offices across the globe.

Commenting on the company’s successful year, founder and managing director Brett Jackson said: “The past 12 months have been a very exciting period of rapid growth in turnover and profit for Granite PR and we are delighted that the company has achieved double digit growth against a harsh economic backdrop.

“Signing our first contract in Houston is a significant achievement for the company and we look forward to growing our presence in that market by building on the relationships we are forming with the business community there.”

He added: “We anticipate continued organic growth for Granite PR which will include the signing of further contracts in the USA and UK and, we hope, the creation of new jobs to meet the needs of our existing and new clients.”

This will also see Granite PR launch Granite Online, a one-day social media interactive conference believed to be the first of its kind in the North east on March 20th as well as a return of the Granite Expo SME showcase which will take place on November 1st.

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MarkWest Utica announces letter of intent to develop significant midstream infrastructure in the Utica Shale

#Naimur Rahman 03 Feb 2019
05 Comments 33K Views

MarkWest Utica EMG, L.L.C. (MarkWest Utica), a joint venture between MarkWest Energy Partners, L.P. (NYSE: MWE) and The Energy and Minerals Group (EMG) focused on the development of significant natural gas gathering, transportation, and processing and natural gas liquid (NGL) transportation, fractionation, and marketing infrastructure in the Utica shale in eastern Ohio, today announced the execution of a letter of intent with Gulfport Energy Corporation (NASDAQ: GPOR) to provide gathering, processing, fractionation, and marketing services in the liquids-rich corridor of the Utica.

Under the terms of the LOI, which requires the execution of definitive agreements, MarkWest Utica will develop extensive natural gas gathering infrastructure with Gulfport and other producers primarily in Harrison, Guernsey, and Belmont counties that is expected to come online beginning in 2012. MarkWest Utica will process the gas at its Harrison County processing complex, and will provide NGL fractionation and marketing services at the Harrison County fractionator, where NGL purity products will be marketed by truck, rail, and pipeline.

“We are very excited to announce the development of midstream infrastructure with Gulfport and other producers to fully develop the rich-gas acreage in the southern Utica shale,” said Frank Semple, Chairman, President and Chief Executive Officer of MarkWest. “The full spectrum of natural gas midstream services, particularly the fractionation and marketing of NGLs at a world-scale fractionation complex, is essential to the success of Utica producers, and we are excited to work closely with our producer customers to develop this prolific shale play.”

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PetroFrontier Corp. announces award of additional permits and update on operations and joint venture process.

#Naimur Rahman 03 Feb 2019
05 Comments 33K Views

CALGARY, March 5, 2012 /PRNewswire/ - (TSX-V: PFC) - PetroFrontier Corp. (”PetroFrontier”) is pleased to announce that it has been awarded two exploration permit applications (”EPAs”) in the western part of the Southern Georgina Basin, Northern Territory, Australia totaling 3,800 km2 (939,000 acres). EPA 213 (1,527 km2) and EPA 252 (2,273 km2) have been conditionally awarded to PetroFrontier and are dependent on the negotiation of surface access agreements with the Aboriginal stakeholders in the area. These two EPAs are 100% owned by PetroFrontier.  These additional EPAs bring the total gross acreage controlled by PetroFrontier to approximately 14.5 million acres.

Operational Update

On January 24, 2012, PetroFrontier announced that it had contracted Rig 918 from Ensign Australia Pty. Limited, a subsidiary of Ensign International Energy Services.  Rig 918 will be used to finish the MacIntyre 2H horizontal well and then drill a high angle pilot well at Owen 3.  The party currently using Rig 918 has advisedPetroFrontier that Rig 918 will not be released from its current drilling location in the Cooper Basin until mid-April 2012. Once Rig 918 is released, PetroFrontier anticipates that an additional week will be required to mobilize it from the Cooper Basin to the Southern Georgina Basin. However, if current rain persists in the Cooper Basin or in the Southern Georgina Basin, the arrival of Rig 918 could be further delayed.

PetroFrontier believes it has sufficient capital at this time to drill both MacIntrye 2H and Owen 3, and to complete hydraulic fracture stimulations at both MacIntrye 2H, as well as the suspended Baldwin 2H well.

Joint Venture Process

On January 16, 2012, PetroFrontier announced that it had retained Macquarie Capital Markets Canada Ltd. as its exclusive adviser to assist it in seeking a suitable joint venture partner to participate with it in the exploration and development of its extensive unconventional and conventional exploration acreage inAustralia’s Southern Georgina basin. An electronic data room has been opened and has been populated with all the relevant technical and commercial material. Interest from industry has been considerable and the deadline of March 29, 2012 for submitting proposals will likely be extended.

About PetroFrontier Corp.

PetroFrontier is an international oil and gas company engaged in the exploration, acquisition and development of both conventional and unconventional petroleum assets in Australia’s Southern Georgina Basin. PetroFrontier’s common shares are listed on the TSX Venture Exchange under the symbol “PFC”. Founded in 2009, PetroFrontier is one of the first companies to undertake exploration in the Southern Georgina Basin in Australia’s Northern Territory.  PetroFrontier’s head office is based in Calgary, Albertaand operations office is in Adelaide, South Australia.

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Afren announces Okoro East well test results

#Naimur Rahman 03 Feb 2019
05 Comments 33K Views

Afren plc (”Afren” or the “Company”) announces that testing has been completed at the Okoro East oil discovery, offshore south east Nigeria, and that results confirm a high quality 38° to 40 API oil, in excellent reservoir sands.  Based on the test data the Company expects future horizontal production wells at Okoro East will be capable of yielding between 4,500 to 7,000 bopd per well.  The Company will drill two production wells using existing facilities in H2 2012 and up to 8 production wells, under a full field development scenario.
Following the Okoro East exploration well discovery announced on 17th January 2012, three drill stem tests (DSTs) have been undertaken and completed.  The purpose of the tests was to obtain fluid samples and pressure data in order to establish reservoir connectivity, heterogeneity and quantify permeability and porosity.  The tests have confirmed a high quality 38° to 40° API oil, multi Darcy permeabilities and average porosity of between 30% to 35%, in the subject reservoirs.  The pressure data also obtained has helped with the Company’s structural understanding of the field and  supports the pre drill volumetric estimates (Pmean STOIIP of 157 mmbbls).

Based on the test data, the Company expects future horizontal production wells at Okoro East will be capable of yielding rates of between 4,500 bopd to 7,000 bopd per well.  The Company intends to drill up to two production wells in H2 2012 using the free well head slots on the existing Okoro platform, which will be tied back to the Armada Perkasa Floating Production, Storage and Offloading vessel.  This production information will allow Amni and Afren to finalise development options, with up to 8 possible production wells under a full field development.