Search results for: Otto Energy

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  • 11 September 2019
    Business & Finance

    Australia-based oil and gas company Otto Energy has made changes to its board as part of a renewal process in support of its current U.S. Gulf of Mexico strategy.

  • 25 October 2017

    Otto Energy has informed that its partner Houston Energy has been awarded the South Timbalier 235 (ST 235) lease under Gulf of Mexico Central Lease Sale 249. Houston Energy bid a total US$210,999 in relation to the ST 235 lease and was the apparent high bidder in August 2017 as part of Central Lease sale 249. […]

  • 3 August 2015
    Exploration & Production, Project & Tenders

    Otto Energy has started drilling at the Hawkeye-1 exploration well, offshore Palawan Basin in the Philippines. According to Otto Energy, the Hawkeye-1 was spud on July 31, 2015. In a statement issued Monday the operator said the 36” conductor had been run to 1,906 metres and the 26” hole subsequently drilled to 2,449 metres. Current operations are […]

  • 11 March 2011
    Business & Finance

      Otto Energy Ltd  provides an update on its 2011 Philippines exploration activities to investors. Otto acquired over 2,400 km2 of 3D and 760 kilometres of 2D seismic during 2010 in campaigns run in the first quarter. Otto has now commenced a significant exploration campaign for 2011. Interpretation of the extensive 3D seismic data acquired […]

  • 6 April 2011
    Business & Finance

      Otto Energy Ltd  advises that Mr Paul Moore, Managing Director of Otto Energy Ltd has given notice of his resignation effective close of business Friday, 1 July 2011. Mr Moore has explained that his decision, not made lightly, was for personal reasons and he will be relocating overseas. The Board has commenced a formal […]

  • 7 November 2013

    Otto Energy Limited today announced that it has been verbally advised by BHP Billiton Petroleum (Philippines) Corporation (BHPB), the Operator of Service Contract 55 (SC55) offshore the Philippines, that it has decided not to participate in the drilling of the Cinco-1 prospect and to withdraw from the SC55 licence. The company said that BHPB had provided no previous indication to […]

  • 31 July 2018
    Business & Finance

    Otto Energy has entered into a joint venture with Hilcorp Energy which will see it earn a 37.5% working interest in an eight-well portfolio of prospects in the Onshore/Near Shore USA Gulf Coast (Gulf of Mexico).

  • 30 September 2011
    Business & Finance

    Otto Energy Ltd announces that it has now completed the transaction with Vitol previously announced on 12 August 2011. Otto has increased its stake in the Galoc Oil Field to a 33% direct working interest by acquiring 100% of the equity in the Operator, Galoc Production Company WLL.  “Otto would like to thank Vitol for […]

  • 1 July 2014
    Business & Finance

    Otto Energy Ltd has fully repaid the BNP Paribas financing facility, which was put in place in December 2012 to fund Otto’s share of the Galoc Phase II development.

  • 16 February 2016
    Exploration & Production

    Byron Energy has spudded the SM-6 #2 well in the U.S. Gulf of Mexico using the Hercules 205 jack-up drilling rig. The well is being drilled in water depth of approximately 20 meters/65 feet, with a planned total measured depth of approximately 2,900 metres/9,516 feet and total vertical depth of 2,785 metres/9,138 feet. It is anticipated that the […]

  • 22 September 2014
    Business & Finance, Project & Tenders

    Otto Energy Limited, the Australian exchange-listed oil company, has sold its stake in the Galoc field, in the Philippines, to Risco Energy Investments for $101.4 million.

  • 11 June 2020
    Business & Finance, Business developments & projects

    The chief executive officer (CEO) and managing director of Australia-based oil and gas company Otto Energy has decided to step down from his roles.

  • 24 April 2018
    Business & Finance

    Australia-based oil and gas company Otto Energy has made a new addition to its board of directors.

  • 16 July 2018
    Business & Finance

    Australia-based oil and gas company Otto Energy has established its Houston office and appointed a U.S.-based technical team.

  • 11 December 2015

    Byron Energy has entered into a binding participation agreement with Otto Energy whereby the latter will pay a part of drilling costs to gain a stake in Byron’s three U.S. Gulf of Mexico projects.  This agreement covers three of Byron’s existing projects, with Otto contributing up to $17.3 million in drilling costs and past expenditure […]

  • 4 April 2018

    Otto Energy is looking to grow its presence in the U.S Gulf of Mexico.

  • 23 June 2011
    Business & Finance

      Otto Energy Ltd  announces that the 3D seismic acquisition program commenced earlier in June has successfully been completed. The marine operations for the acquisition along with the onshore support teams have all run very smoothly resulting in successfully acquiring of over 210 km2 of high quality 3D seismic data. Otto will now move to […]

  • 29 May 2017
    Project & Tenders

    The Australian-listed oil and gas explorer Otto Energy Limited is raising cash for its U.S. Gulf of Mexico oil project. The company said on Monday it would raise $8.2 million through an issue of secured convertible notes. Otto has signed a binding deal under which Molton Holdings Limited, a major Otto shareholder, will subscribe for […]

  • 11 May 2011
    Business & Finance

      Otto Energy Ltd  pleased to announced today that BHP Billiton has exercised the option to farm-in to Service Contract 55 (SC55). Subject to joint venture and regulatory approval, BHP Billiton will earn up to 60% participating interest and assume operatorship of the block by reimbursing Otto’s past costs and funding one offshore deepwater well […]

  • 6 April 2020
    Business & Finance, Business developments & projects, Market outlooks, Outlook & strategy

    Australia-based oil and gas company Otto Energy has taken measures to mitigate the effects of the low oil price environment.

  • 28 January 2016

    Otto Energy, an oil and gas company, is planning to exit its Service Contract 55 (SC55), offshore the Philippines, and focus on its North American assets.  SC55 is a deep-water block located in the southwest Palawan Basin, covering an area of 9,880km2. Otto is the operator of SC55 with 78.18% interest and the partners are Red Emperor Resources, with […]

  • 2 July 2015
    Exploration & Production, Project & Tenders

    Australia’s Otto Energy Ltd is preparing to spud Hawkeye-1 exploration well offshore the Philippines.  Namely, the company issued Maersk Drilling with formal notice in respect of the mobilisation of the Maersk Venturer drillship to the Hawkeye-1 exploration well location. Otto executed a binding contract with Maersk Drilling to secure the drillship for Hawkeye-1 well in May 2015. According to Otto, […]