Mega Billion Corporation Ltd


Crude Oil TanksMega Billion Corporation Limited is a leader in the of Nigerian Bonny Light Crude Oil (BLCO) sales market. As a privately held company, Mega Billion Corp. Nigeria Ltd is committed to and is focused on delivering reliable services to all her clients. Mega Billion Corporation Ltd is determined to continue to grow in the energy sector and to become one of the recognized leaders in the Nigerian oil and gas industry.

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Wednesday, 17 September 2014

Oilfield set aside for U.S. Navy 99 years ago goes to auction

The U.S. government wants to sell a naval petroleum reserve field first set aside by presidential decree 99 years ago to ensure fuel supplies for American warships.


The Energy Department is seeking bids for the Teapot Dome field north of Casper, Wyoming, by Sept. 30, according to an offering document published on the website of Meagher Energy Advisors Inc. today, June 23. The field, which includes several layers of shale and oil wells more than 1 mile (1.6 km) deep, currently produces about 240 bbl of crude a day.


The Teapot Dome field was designated a naval reserve in 1915. The 9,481-acre parcel is the last such reserve still under control of the Energy Department, according to the offering document.


The field has several untapped layers of oil- and gas-soaked rocks that may be suitable for enhanced recovery techniques such as carbon-dioxide flooding, according to the offering. A data room with technical details about the geology of the field is scheduled to open on July 30.


The U.S. began divesting naval petroleum reserves in 1998, when it sold the Elk Hills field near Bakersfield, California, to Occidental Petroleum Corp. for $3.65 billion.


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