TOTAL E&P IRELAND BV has agreed to farm-in on a 35% working interest in the Frontier Exploration Licence (FEL) 2/14 from Providence Resources plc and Sosina Exploration Ltd for $27m. 

The FEL 2/14 is located in the southern Porcupine Basin in offshore Ireland in water depths of around 2,250m and includes the Paleocene Druid, Lower Cretaceous Drombeg and Jurassic Diablo exploration prospects.

The licence is currently owned by Providence (56%, operator) Capricorn Ireland Limited (30%) and Sosina (14%).

Hyperdynamics Corporation has raised $6.33m through the issue of units in a private placement. Each unit includes a common stock and a warrant, and entitles the holder to buy three-quarters of a share of the company's common stock within two years at a price of $1.825 a share.

Katalyst Securities LLC was the placement agent to the company.

"The LO 16/27 spans 1,324km², lying in depths of 1,300m."

Cairn Energy Plc subsidiary Capricorn Ireland Limited has agreed to farm-in a 20% working interest in licensing option (LO) 16/27 in southern Porcupine Basin in offshore south-west Ireland from Providence Resources plc and Sosina Exploration Limited. 

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By GlobalData

The LO 16/27 spans 1,324km², lying in depths of 1,300m, and includes the Paleocene Avalon exploration prospect. 

The deal will enable Capricorn Ireland to expand its oil and gas assets portfolio offshore Ireland. 

Stress Engineering Services Inc and DeepMar Consulting have established a partnership to expand their service offerings to the upstream oil and gas industry. 

The partnership allows entities to offer drilling, completion, production and asset solutions, as well as intervention solutions to address the entire field life.