The Company's Ferrier Cardium asset provides optionality between natural gas and
light oil so the Company's development program can respond to commodity price fluctuations.
SOCAR Energy Ukraine's subsidiaries Torgoviy Dom and SOCAR-AVIA organize the sale of
light oil products and aviation fuel at Ukrainian airports.
The 'Adjusted Funds Flow', '
Light Oil Operating Income', '
Light Oil Operating Netback', '
Light Oil Capital Expenditures Net of Capital-Carry', 'Thermal Oil Operating Income', 'Thermal Oil Operating Netback', 'Consolidated Operating Income', 'Consolidated Operating Netback', 'Consolidated Capital Expenditures Net of Capital-Carry', 'Net Debt' and 'Consolidated Free Cash Flow' financial measures contained in this News Release do not have standardized meanings which are prescribed by IFRS and they are considered to be non-GAAP measures.
The well has been opened to production in the sandstones and delivered 5,130 barrels of oil equivalent per day (boepd) of
light oil with low associated gas.
Analyst said revenues grew on accounts of higher Arab
light oil prices (up 24% year-on-year basis) to $65.6 per barrel, currency devaluation providing support to dollar-linked revenues and upward revision in Sui field's wellhead gas pricing.
The offers will add to a glut of
light oil supplies in Asia, increasing competition with fellow Gulf producer Abu Dhabi National Oil Co and Russia, who declined to be identified due to the sensitivity of the matter.
The reserve found by Repsol and its partner Armstrong Energy could contain as much as 1.2 million barrels of
light oil, (http://https://www.repsol.com/es_en/corporacion/prensa/notas-de-prensa/ultimas-notas/09032017-repsol-realiza-el-mayor-descubrimiento-de-petroleo-de-los-ultimos-30-anyos-en-suelo-estadounidense.aspx) the company said in a press release Thursday.
The No 3 Opec producer is producing around 4.5 million barrels per day (bpd) of crude and ultra
light oil condensate, according to local oil officials, while it has just about doubled its total exports since sanctions targeting its nuclear programme were lifted in January.
Spartan Energy Corporation (TSX:SPE), an oil and gas company based in Calgary, Alberta, has completed its acquisition of Wyatt Oil + Gas Incorporated, a privately held corporation with
light oil assets in southeast Saskatchewan.
The BKCR4599 provides heavy-duty cut resistance,
light oil and moisture resistance, non-tacky slip resistance, and shock-absorbing impact protection.
In April 2007, the Oil Ministry announced a find south of Raudhatain oilfield in the north, saying the new field contained "a huge amount of
light oil and associated gas".
"Concrete slabs which prohibited vertical subsurface exploration activities were encountered at several of the following former gas-plant structure locations including: tar ASTs (above-ground storage tanks), a former tar well, two former gas-storage holders, the foundation for decanters and light-oil recovery operations, pipe tunnel, a former
light oil tank, drip oil tank and tar-processing tanks,'' according to the report.
