Page 13 - NorthAmOil Week 11 2022
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NorthAmOil                                  NEWS IN BRIEF                                        NorthAmOil







































       last week in its Tishomingo field in Oklahoma.  significantly higher than the reserve report   1 MTPA of LNG from Venture Global’s CP2
         The Barnes 7-3H well is currently flowing   proved forecast case. The company will   LNG facility, located in Cameron Parish,
       back stimulation fluid at a rate that has   update the market when we have stabilised   Louisiana, adjacent to Venture Global’s
       been restricted by the company’s operations   unrestricted production rates in the coming   existing Calcasieu Pass LNG facility. In
       team. Despite the restricted rate, the well is   weeks.”                 December 2021, Venture Global filed a formal
       producing approximately 400 barrels of oil   KOLIBRI GLOBAL ENERGY, March 17, 2022  application requesting authorisation from
       a day. It is still early in the cleanup process,                         the Federal Energy Regulatory Commission
       with only about 3.5% of the stimulation fluid                            (FERC) to site, construct, and operate the 20
       recovered to date.                  DOWNSTREAM                           MTPA nameplate capacity CP2 LNG facility.
         Wolf Regener, president, and CEO,                                        “Venture Global is proud to enter into
       commented: “I’m very pleased to say that   NFE announces LNG sale        a long-term LNG partnership with New
       this early in the flowback, the well is already                          Fortress Energy. Our companies share a
       producing 400 barrels a day of oil at restricted   and purchase agreements   commitment to keeping energy markets well
       production rates. It’s so early in the flowback                          supplied while also advancing clean energy
       that the well hasn’t even started producing gas   with Venture Global LNG  goals, through the export of low-cost US LNG
       yet. The well is currently producing these rates                         to emerging economies,” said Mike Sabel,
       while flowing up casing. It is acting much   New Fortress Energy announced today the   chief executive officer of Venture Global LNG.
       stronger than our previous wells, which has   execution of two 20-year Sale and Purchase   “The CP2 LNG facility, adjacent to Calcasieu
       enabled it to still be able to flow up casing at   Agreements (SPA) with Venture Global LNG.   Pass, will build on our vision of making
       these rates. In previous wells, installing tubing   Under the deals, Venture Global will supply   Louisiana an international hub for innovation
       in the wells and, in most cases, adding assisted   2mn tonnes per annum (mtpa) of LNG on   to enhance global energy security.”
       lift would have been necessary by now.  a free on board (FOB) basis from its LNG   The effectiveness of each agreement is
         “This 400 barrel of oil a day rate is about   facilities in Louisiana.  subject to customary terms and conditions.
       27% above the initial 30 day proved forecast   Under the first agreement, NFE will   NEW FORTRESS ENERGY, March 16, 2022
       curve case oil portion of the production rate   purchase 1 MTPA of LNG from Venture
       utilised for our reserve report and is right   Global’s Plaquemines LNG export facility in
       in line with the oil portion of the initial   Plaquemines Parish, Louisiana for a term of   SERVICES
       30-day type curve utilised by the company’s   20 years.
       management.                            “We are pleased to partner with Venture   AKITA announces 2021
         “We anticipate that the well will start   Global as we advance our mission of
       producing gas and NGLs in the coming week   providing customers around the world   annual results
       as the well cleans up further. The Company’s   with access to low-carbon natural gas and
       wells in this area generally produce about   affordable electricity,” said Wes Edens,   Akita Drilling was more active in 2021 than
       20% gas and natural gas liquids by volume   Chairman and CEO of NFE. “These volumes   in 2020 as the impact of the restrictions
       along with the oil. While there can be no   support our plan to expand and diversify our   designed to reduce the spread of the global
       assurance as to what the well’s 30-day initial   stable natural gas supply portfolio to meet   pandemic eased, and the price of oil and
       rate or ultimate productivity will be, based on   the growing needs of our customers in a   natural gas recovered, increasing 37% and
       the current flowing pressures, we are hopeful   structurally short global natural gas market.”  67%, respectfully over the course of the year.
       that the well will attain or potentially exceed   In addition to 1 MTPA from Plaquemines   The significant improvements in commodity
       management’s type curve forecast, which is   LNG, NFE agreed to purchase an additional   prices increased demand for drilling services



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