Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

4-Traders Homepage  >  Equities  >  Euronext Paris  >  Total    FP   FR0000120271

TOTAL (FP)
Mes dernières consult.
Most popular
Report
SummaryQuotesChartsNewsAnalysisCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsSector newsTweets

Total To Abandon Nigerian Well After Stopping Gas Leak

share with twitter share with LinkedIn share with facebook
share via e-mail
0
05/18/2012 | 11:23pm CET

Total SA (TOT) will permanently abandon a well in Nigeria's Niger Delta after stopping a natural gas leak earlier this week, a company spokesman said Friday.

"Total E&P Nigeria Ltd. announced (Friday) that following the successful 'snubbing' operation on the Ibewa 16 well, cement seals are in place and permanent abandonment of the well is progressing as planned," the spokesman, Fred Ohwahwa, said in a statement.

As a result, the company has informed authorities that two planned relief wells were no longer necessary and will not be drilled, Ohwahwa said.

He said Total was working towards restarting the Obite gas treatment plant, which was shut down after the leak's discovery.

The leak began March 20 during the drilling of a new well in southern River state. Total said it was alerted to the leak on April 3 and shut down the Obite gas plant while a safety perimeter was being enforced around the leak at the Ibeto 16 well.

Ohwahwa said the snubbing operation that started on May 9 to stop the gas leak consisted of introducing small pipes to pump heavy fluids into the well in orderto halt gas flow, and setting cement plugs to isolate the reservoir. The company said it successfully stopped the gas leak on Sunday.

The spokesman said all environmental monitoring activities, including air and water quality analysis, will continue. Total will continue to provide regular updates to neighboring communities, local and federal authorities, regulators and other stakeholders, he added.

Nigeria, a major oil producer, has large gas reserves but little of the gas is used for commercial purposes. Most of it is flared daily in the Niger Delta.

-By Obafemi Oredein, contributing to Dow Jones Newswires; (212) 416 2800; [email protected]

share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on TOTAL
01/19 TOTAL : Federal Contracts Awarded to Companies in Georgia (Jan. 19)
01/19 TOTAL : Cell, Battery
01/19 TOTAL : MILITARY $467,531 Federal Contract Awarded to Saft America
01/17 Petrobras & Total Complete Transfer of Rights in Lapa & Iara Concessions
01/16 Norway awards record 75 oil exploration licences
01/16 Petrobras and Total Complete the Transfer of Rights in the Lapa and Iara Conc..
01/13 TOTAL : Iran says contract with French Total "proceeding without delay"
01/13 SUNPOWER : commissions 100MW PV project in Chile
01/13 Sunpower wins $22 mil contract for flare gas recovery system
01/11 SUNPOWER : Supervisors approve solar farm request, second Kensington school loca..
More news
News from SeekingAlpha
01/17 Noble Corp. - Discussing Fleet Status Report And Notes Offering
01/16 Total boosts Brazil production with transfer of sub-salt fields
01/16 Norway awards record 75 oil exploration licenses, led by Statoil's 31
01/15 ROAD TO FINANCIAL INDEPENDENCE : My December 88-Stock Portfolio Review
01/12 REPORT : Shell considers buying Dutch green energy supplier
Financials ($)
Sales 2017 160 B
EBIT 2017 12 701 M
Net income 2017 10 419 M
Debt 2017 24 003 M
Yield 2017 4,68%
P/E ratio 2017 13,83
P/E ratio 2018 12,82
EV / Sales 2017 1,07x
EV / Sales 2018 0,94x
Capitalization 146 B
Chart TOTAL
Duration : Period :
Total Technical Analysis Chart | FP | FR0000120271 | 4-Traders
Technical analysis trends TOTAL
Short TermMid-TermLong Term
TrendsNeutralBullishNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 30
Average target price 62,5 $
Spread / Average Target 8,1%
EPS Revisions
Managers
NameTitle
Patrick Pouyanné Chairman & Chief Executive Officer
Bernard Pinatel President-Refining & Chemicals
Patrick de la Chevardière Chief Financial Officer
Jean-François Minster Senior Vice President-Scientific Development
Christophe Vuillez Senior VP, Head-Strategy, Development & Research
Sector and Competitors
1st jan.Capitalization (M$)
TOTAL3.34%146 197
ROYAL DUTCH SHELL3.17%293 662
PETROCHINA COMPANY7.91%243 443
PETROLEO BRASILEIRO SA PETROBRAS13.04%77 079
STATOIL4.97%76 662
ENI8.33%65 857