OEL
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Company News
Otto Energy reports strong hydrocarbon pay zones at SM71 lease in Gulf of Mexico
Otto Energy (ASX: OEL) has come out of a trading halt to announce a significant hydrocarbon discovery within the South Marsh Island 71 (SM71) lease in the Gulf of Mexico. Drilling intersected 40 metres true vertical thickness of net hydrocarbon pay in the primary D5 sand interval. The F5-ST well, operated on behalf of the […]
Oil and gas rush speeds-up as prices surge
A promising gas discovery revived interest in Buru Energy (ASX: BRU) earlier this week – delivering a 30% share-price rise in the latest example of investors returning to the politically incorrect oil and gas sector, a move which iron ore billionaire Gina Rinehart successfully made late last year. Though miles apart in terms of size […]
Otto Energy strikes more oil in Gulf of Mexico
Oil and gas junior Otto Energy (ASX: OEL) has announced its Bulleit appraisal well in the US Gulf of Mexico is being suspended as a future producer after hitting more oil pay in the deeper target sands. According to the company, its Texas-based partner and well operator Talos Energy (NYSE: TALO) intersected about 110 feet […]
88 Energy, Otto and Red Emperor Resources hit potential pay zones at Winx-1
Junior explorer 88 Energy (ASX: 88E) and its consortium partners Otto Energy (ASX: OEL) and Red Emperor Resources (ASX: RMP) will progress to wireline activities at the Winx-1 exploration well in Alaska after completing the first round of drilling. Providing an update to their respective shareholders on the Alaskan activities today, the trio announced it […]
Spud date at Winx-1 looms for 88 Energy and Alaskan partners following permit green light
Junior explorer 88 Energy (ASX: 88E) and its consortium partners Otto Energy (ASX: OEL) and Red Emperor Resources (ASX: RMP) are gearing up to spud the Winx-1 exploration well after receiving drilling approval from the Alaska Oil and Gas Conservation Commission. The news of the permit green light was announced by the trio in separate […]
Otto Energy hits oil in Gulf of Mexico well, starts gas production at Lightning
Oil and gas junior Otto Energy (ASX: OEL) has announced its Bulleit appraisal well in the US Gulf of Mexico has hit oil in the shallower target sand. The company resumed trading on the ASX today upon revealing logging data that indicated the well, which lies in about 1,200 feet of water in the offshore […]
Otto Energy strikes oil and gas at Lightning on US Gulf Coast
Oil and gas explorer Otto Energy (ASX: OEL) is rejoicing in the discovery of hydrocarbons at an exploration well recently drilled on the Lightning oil and gas prospect on the US Gulf Coast. The company today announced its project partner Houston-based private company Hilcorp Energy has drilled the Green-1 well in Matagorda County, Texas to […]
Byron Energy reveals new oil and gas prospects in Gulf of Mexico as output hits million-barrel mark
Oil and gas junior Byron Energy (ASX: BYE) has revealed several new low-risk development opportunities and prospects at one of its offshore joint venture projects in the US Gulf of Mexico. The company today announced it has received the final version of reverse time migration (RTM) data from a seismic reprocessing program at the South […]
88 Energy, Otto and Red Emperor line up Alaskan Western Blocks well spud for next month
Junior oil explorer 88 Energy (ASX: 88E) and its consortium partners Otto Energy (ASX: OEL) and Red Emperor Resources (ASX: RMP) are on track to drill a maiden well next month at their newly acquired Western Blocks acreage on Alaska’s North Slope. In separate announcements, the Australian trio today reported a drilling permit had been […]
Byron Energy bounds to top oil producing spot on Gulf of Mexico shelf, advances well spud plans
Oil and gas junior Byron Energy (ASX: BYE) is making great strides in the US Gulf of Mexico, with one project now bumping up to the top spot for oil production on the Gulf’s shelf and rolling plans to spud a maiden well in a neighbouring block. The company today released several announcements regarding its Gulf […]