OIL FIELDS – UNITED STATES

Oil Search boosts Alaska oil outlook

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Original article by Angela Macdonald-Smith
The Australian Financial Review – Page: 20 : 19-Dec-19

Oil Search has upgraded the 2C contingent resource estimate for the Pikka oil project in Alaska to 728 million barrels following an independent assessment. This is 46 per cent higher than Oil Search had estimated when it acquired its stake in the project in 2018; the company’s share of the 2C contingent resource has been increased from 127 million barrels to 371 million barrels. Oil Search and its joint venture partners expect to make a decision on the commencement of front-end engineering and design work in early 2020.

CORPORATES
OIL SEARCH LIMITED – ASX OSH, JP MORGAN AUSTRALIA LIMITED

Oil Search reassures on Alaskan project funding

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Original article by Angela Macdonald-Smith
The Australian Financial Review – Page: 17 : 15-Dec-17

Oil Search CEO Peter Botten says a recent $US400m deal to acquire stakes in several oil fields in Alaska was necessary due to the expected long delay in commencing each phase of its LNG project in Papua New Guinea. He has stressed that the investment in Alaska will have no impact on its commitment to the PNG LNG project. He has also indicated that Oil Search will not need to undertake an equity raising to finance either project.

CORPORATES
OIL SEARCH LIMITED – ASX OSH, REPSOL SA

Price crash may see BHP pull rigs

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Original article by Amanda Saunders
The Australian Financial Review – Page: 11 & 20 : 8-Jan-15

West Texas Intermediate crude oil was trading at $US48 per barrel on 7 January 2015. Paul Young of Deutsche Bank suggests that BHP Billiton could potentially reduce the number of drilling rigs it operates in the Permian Basin in the US until there is a sustained rebound in the oil price. Young adds that BHP could delay adding additional drilling rigs until the oil price rises to about $US80/barrel, which may not occur until around 2018

CORPORATES
BHP BILLITON LIMITED – ASX BHP, DEUTSCHE BANK AG