This article brings together selected contemporary media coverage, documenting the development of InterOil Corporation, including its exploration activities, refining and petroleum operations, LNG initiatives, and corporate milestones.
Spanning more than a decade, the collection focuses particularly on InterOil’s activities in Papua New Guinea (PNG), including the exploration and development of its gas resources at the Elk and Antelope. It also includes coverage of the company’s operations and exploration activities in Colombia and Peru, as well as strategic transactions, financing and infrastructure developments.
The links below provide access to the original publications and present a chronological record of InterOil’s activities as reported at the time.
2001–2004 | Establishing the Papua New Guinea Business
InterOil’s early development in PNG included the establishment of refining and petroleum infrastructure and the development of relationships with international energy companies.
Mar 19, 2001 — InterOil builds first refinery in Papua New Guinea
Oil & Gas Journal — InterOil Corp., Cairns, Australia, is building a US$180 million hydroskimming refinery in Napa Napa, Papua New Guinea (PNG), on the western side of the Port Moresby Harbor.
Apr 5, 2001 — Shell to buy naphtha from Papua New Guinea refinery
Oil & Gas Journal — Shell International Eastern Trading Co. of Singapore has agreed to buy excess naphtha for 3 years from the refinery InterOil Corp., Cairns, Australia, is building in Papua New Guinea.
Apr 10, 2001 — InterOil unveils alliance with Shell
The Australian Financial Review — InterOil Corporation announced a strategic alliance and asset acquisition agreement with Shell in Papua New Guinea.
Jan 9, 2002 — PNG refinery edges closer to reality after InterOil deal
Energy News Bulletin — Developments surrounding InterOil’s refinery project.
Mar 11, 2003 — New oil system discovered in eastern Papua New Guinea
Oil & Gas Journal — InterOil Corp. has discovered a new oil system in the eastern Papuan basin in Papua New Guinea (PNG).
Oct 12, 2002 — InterOil opens its first retail fuels station
EnergyAsia — Expansion of InterOil’s downstream business in PNG.
May 6, 2003 — InterOil sends second refinery equipment shipment to Papua New Guinea
Oil & Gas Journal — InterOil Corp., The Woodlands, Tex., Thursday shipped refinery process vessels, main heaters, and other major equipment for a new refinery it is building in Papua New Guinea. The new 32,500 b/d refinery, the country’s first, is expected to start up by Dec. 31.
Sep 3, 2003 — InterOil receives final Papua New Guinea refinery equipment shipments
Oil & Gas Journal — InterOil Corp., Toronto, has received the final major shipments of equipment for the refinery it is constructing in Papua New Guinea.
Dec 15, 2003 — CEO Interview
The Wall Street Transcript
Jan 9, 2004 — InterOil to list on US bourse on back of PNG refinery
Energy News Bulletin — InterOil’s U.S. listing and its growing PNG business.
Jan 9, 2004 — InterOil to list on US bourse on back of PNG refinery
Energy News Bulletin — InterOil’s U.S. listing and its growing PNG business.
Mar 18, 2004 — InterOil acquires BP’s Papua New Guinea operations
Oil & Gas Journal — InterOil Corp., a Canadian company with operations in Papua New Guinea, agreed to acquire BP PLC’s subsidiary, BP Papua New Guinea Ltd., for $11.3 million.
Jun 18, 2004 — InterOil receives first crude for Papua New Guinea refinery
Oil & Gas Journal — InterOil Corp., a Canadian company with operations in Papua New Guinea, reported the first shipment of crude oil for its refinery arrived at the company’s marine terminal across the harbor from Port Moresby, and commissioning of the refinery can now begin.
Jul 14, 2004 — InterOil Napa Napa Refinery
Offshore Technology — Background on the Napa Napa refinery.
2005–2007 | Exploration and the Elk Discovery
InterOil significantly expanded its exploration programme in PNG during this period, including the Black Bass, Triceratops and Elk prospects. The acquisition of Shell Papua New Guinea also expanded the InterOil’s downstream operations.
Jan 20, 2005 — InterOil to Build Drilling Rig for PNG Exploration Program
Rigzone — InterOil has entered into a contract with Loadmaster Rig Systems of Houston, Texas, under which Loadmaster has agreed to complete the design and engineering and then manufacture a special-purpose built, heli-portable drilling rig to be used for InterOil’s exploration program in Papua New Guinea.
Feb 27, 2005 — InterOil to Spend $125 Million on Exploration Program in PNG
Rigzone — InterOil to begin an eight-well exploration program in Papua New Guinea.
Apr 17, 2005 — InterOil Preparing to Spud the Black Bass Prospect
Rigzone — InterOil has completed the mobilization of the rig and is currently ‘rigging-up’ the drilling rig on the Black Bass Prospect, the company’s next exploration target.
Apr 24, 2005 — InterOil Begins Drilling Black Bass Exploration Well in PNG
Rigzone — InterOil has commenced drilling its first exploration well on the Black Bass Prospect located within Petroleum Prospecting License 236 in Papua New Guinea.
Jul 17, 2005 — InterOil Provides Black Bass and Exploration Update
Rigzone — InterOil is encouraged by the reservoir and hydrocarbons discovered at Black Bass and intends to acquire new seismic data surrounding the well.
Sep 25, 2005 — InterOil Spuds Triceratops-1 Exploration Well
Rigzone — InterOil reports that drilling has commenced at the Triceratops – 1 exploration well. The Triceratops is InterOil’s first exploration test in its PPL 237 License.
Oct 5, 2005 — InterOil’s New Drilling Rig Arrives in Papua New Guinea
Rigzone — InterOil says its newly engineered rig (InterOil Rig #2) has arrived in Port Moresby, Papua New Guinea. The rig is a ‘double’ and was engineered by Loadmaster Rig Systems of Houston, Texas, with a depth capacity of over 13,123 feet.
Nov 21, 2005 — InterOil to Acquire Shell Papua New Guinea
Rigzone — InterOil Corporation has reached an “in principle” agreement covering the purchase of 100 percent of the shares in Shell Papua New Guinea Limited.
Nov 22, 2005 — InterOil to take over Shell PNG
Upstream Online — Canada-based player InterOil said it has reached an agreement in principle to acquire Shell Papua New Guinea.
Feb 19, 2006 — InterOil Spuds Elk-1 Exploration Well in Papua New Guinea
Rigzone — InterOil reports that drilling has commenced at the Elk-1 exploration well in Papua New Guinea. The Elk well is located in Petroleum Prospecting License 238 and is targeting the Miocene Puri fractured limestone and the Eocene Mendi limestone.
Mar 22, 2006 — InterOil Issues Elk-1 Drilling Report
Rigzone — InterOil is sidetracking the Elk-1 which is located in PPL 238 in the Eastern Papua Basin in Papua New Guinea.
May 3, 2006 — InterOil Signs MoU with PNG Government
Rigzone — InterOil Corporation has signed a Memorandum of Understanding with the Independent State of Papua New Guinea for natural gas development projects in Papua New Guinea.
Jun 25, 2006 — InterOil Makes Gas Discovery at Elk #1
Rigzone — InterOil Corporation has made a gas and gas liquids discovery at ELK #1 in Papua New Guinea.
Jun 27, 2006 — Elk-1 flows wet gas: InterOil
Energy News Bulletin — InterOil’s Elk-1 well recorded a calculated absolute open flow of 150 mmcfd, with a drill stem test indicating wet gas flow and bottom-hole pressure of approximately 3,700 psi. Further drilling and testing were planned to assess the reservoir’s commercial potential.
Oct 2, 2006 — InterOil Announces Closing of Acquisition of Shell Papua New Guinea
Evaluate Energy — Canadian company with operations in Papua New Guinea announced today that it has finalized the closing of the transaction for the purchase of Shell Papua New Guinea. The asset portfolio comprises 4 terminals, 3 depots and 28 retail sites that are owned/operate under the Shell name.
Oct 10, 2006 — InterOil completes takeover of Shell Papua New Guinea
EnergyAsia — Canadian company with operations in Papua New Guinea announced today that it has finalized the closing of the transaction for the purchase of Shell Papua New Guinea. The asset portfolio comprises 4 terminals, 3 depots and 28 retail sites that are owned/operate under the Shell name
Feb 12, 2007 — InterOil: Elk-2 Spuds in Papua New Guinea
Rigzone — InterOil Corp., a Canadian company with operations in Papua New Guinea, announced that drilling has commenced on the Elk-2 appraisal well.
Feb 12, 2007 — InterOil Reports Fourth Straight Colombian Success
Rigzone — InterOil Exploration & Production ASA has successfully completed the drilling of the infill production well TC 19 in the Toqui Toqui Field in Colombia. This is the fourth successful well drilled in Colombia within the last 3 months.
Apr 25, 2007 — Papua New Guinea Endorses InterOil’s LNG Project
Rigzone — InterOil Corp. on Wednesday provided an update on its efforts to commercialize the previously announced Elk natural gas and condensate discovery in Papua New Guinea.
Jun 12, 2007 — InterOil Completes Mana-8 in Colombia
Rigzone — InterOil last week completed the Mana-8 well in the southern part of the Mana License in Colombia.
Aug 14, 2007 — InterOil says oil found at Elk field gas project
The Globe and Mail — InterOil announced in August 2007 that it discovered sufficient natural gas at its Elk field in Papua New Guinea to support a LNG project, alongside potential oil shows.
Aug 18, 2007 — InterOil gauges gas at Elk-2 appraisal well
Oil & Gas Journal — InterOil Corp., Toronto, said it has achieved positive results from its Elk-2 appraisal well on PPL 238 in Papua New Guinea.
Oct 22, 2007 — Interoil Expands Exploration into Angola
Rigzone — Sonangol invited Interoil to participate in exploration on an existing license onshore Angola.
2008–2009 | Antelope and the Growing Gas Resource
InterOil’s discoveries in PNG and the potential scale of its gas resources.
Jan 17, 2008 — InterOil Nipples Up, Prepares to Run in the Hole on Appraisal Well
Rigzone — InterOil is preparing to nipple up BOP and preparing to run in the hole with 8 1/2-inch bit to drill out the 9 5/8-inch casing shoe on the Elk prospect, a gasoil appraisal/exploration well in the eastern Papua basin.
Mar 9, 2008 — InterOil Receives Altair License in New Colombian License Round
Rigzone — The Altair licence was ranked as the best prospect by our technical team in Switzerland and Colombia and it was also the most sought-after block in this license round.
Mar 13, 2008 — InterOil Hits Background Gas at Elk Prospect
Rigzone — However, the company noted that other wells drilled in the area that showed “background gas” did not necessarily hold commercially viable gas.
Apr 30, 2008 — InterOil Makes Gas Discovery in New Guinea
Rigzone — InterOil Corporation, a Canadian company with operations in Papua New Guinea, announced a gas and gas liquids discovery in the Antelope structure, which was intersected at 7,402 feet (2,256 meters), in its Elk-4 well.
Jun 11, 2008 — InterOil Releases Production Update on South American Holdings
Rigzone — InterOil announced information about their production figures in Colombia and Peru, which have trailed off slightly due mainly to shut-in wells undergoing enhanced oil recovery work.
Jun 11, 2008 — InterOil Experiences Continued Success in Peru, Colombia
Rigzone — InterOil is continuing its enhanced oil recovery (fracturing) campaign in Colombia, and has just finished the second well; TC 19, with another successful result. InterOil has also had recent success with its wells in Peru’s Block IV.
Jun 23, 2008 — InterOil Strikes Paydirt in New Peruvian Exploration Well
Rigzone — InterOil’s exploration well in Peru’s Block III, La Isla, is completed witha daily production of 600 bopd. A second well is already under way from the same drilling location.
Jul 30, 2008 — InterOil Completes Second Well in Peru’s Block II
Rigzone — InterOil’s second well in the new area in the Southern part of Block III in Peru is completed. The two wells produce 1,120 bopd net to the company, and two more wells will be spudded in August.
Jan 29, 2009 — InterOil Confirms Deeper Reservoir at PNG’s Antelope
Rigzone — InterOil’s current operations are to complete wireline logging and testing of the newly drilled reservoir section in order to establish the lowest known hydrocarbon base in the Antelope structure.
Mar 1, 2009 — InterOil’s Antelope Find Could Contain 10 TCF Gas
Rigzone — InterOil’s Antelope-1 well set a new record flow rate for the country of Papua New Guinea.
Mar 2, 2009 — PNG gas project claims world output record
RNZ — Antelope is InterOil’s second structure along with the Elk 4 site that in September last year registered a flow of 105 million cubic feet per day.
Mar 4, 2009 — Massive gas find in PNG
Variety News Staff — InterOil’s Antelope One well flowed at up to 383 mcfd, with estimated production potential of up to 545 mcfd of dry gas and 5,000 barrels of condensate per day, supporting the development of a major LNG project in Papua New Guinea.
Mar 4, 2009 — InterOil’s Antelope-1 shows promise in Papua New Guinea
Oil & Gas Journal — InterOil reported that its Antelope-1 wildcat onshore Papua New Guinea could contain sufficient gas to supply the first LNG train in its proposed Liquid Niugini Gas project near Port Moresby.
Apr 5, 2009 — InterOil Recovers Oil from 1st Drill Stem Test of Antelope-1 Sidetrack
Rigzone — InterOil Corporation announced the recovery of oil and oil emulsion from the Antelope-1 side track. Initial laboratory readings indicate that the oil is approximately 44 degrees API gravity.
Jun 10, 2009 — InterOil wraps up $70m share sale
Upstream Online — Houston junior InterOil has completed a registered stock offering of just over two million shares that raised $70.4 million.
Dec 3, 2009 — InterOil produces record gas flow at Antelope
Oil & Gas Journal — InterOil Corp., Cairns, has surpassed its previous record-high gas flow rate in its onshore Antelope field in Papua New Guinea with an impressive 705 MMcfd flow rate from the Antelope-2 appraisal gas well.
Dec 12, 2009 — InterOil wins LNG approval in PNG as other project advances
Oil & Gas Journal — The Papua New Guinea government has approved a project agreement for an LNG project planned by InterOil, Cairns, Australia, based on gas reserves in its Elk and Antelope fields in the country’s Gulf province.
Dec 14, 2009 — InterOil soars on Wall Street
The National — InterOil’s shares rose 7.6% to US$70.33 following PNG Government approval of its US$6 billion LNG project, with the company’s stock having more than quadrupled in value during 2009.
2010–2013 | Strategic Developments and Partnerships
InterOil’s efforts to advance its PNG gas resources, establish strategic partnerships and expand its interests in the country.
Jan 13, 2010 — InterOil makes improved test of Antelope-2
Oil & Gas Journal — InterOil Corp., Cairns, said the Antelope-2 well in Papua New Guinea flowed at a stabilized rate of 11 MMcfd through a 48/64-in. choke in the last 7 hr of a second drill stem test, and the condensate-to-gas ratio (CGR) averaged 20.7 bbl/MMcf of natural gas.
Feb 17, 2010 — InterOil ups gas reserves by 141%
The National — InterOil increased its estimated gas resources at the Elk-Antelope fields by 141%, reflecting a significant expansion in the potential recoverable resource base and strengthening the prospects for its planned LNG development in Papua New Guinea.
Feb 19, 2010 — Estimate of InterOil resources increased
Oil & Gas Journal — An independent evaluation of Papua New Guinea explorer InterOil Corp.’s Elk and Antelope gas and condensate discoveries in the southern highlands has estimated contingent recoverable gas resources in excess of 8 tcf.
Feb 22, 2010 — InterOil Signs Drilling Pact in Colombia
Rigzone — InterOil informed that 10% of its Altair license in the Llanos Basin, Colombia has been traded against the drilling of two firm wells in 2010 and two conditional wells in 2011, depending upon the 2010 drilling results.
Dec 16, 2010 — InterOil acquires participation interests in PNG fields
NS Energy — The interests acquired total 1.05% participation in these fields and in any future discoveries made as a result of four exploration wells still to be drilled under the IPI agreement.
Jul 13, 2011 — InterOil Completes Well at San Luis Field
Rigzone — InterOil has completed the second well, 13164D, on the San Luis Field in Peru.
Sep 29, 2011 — InterOil Looks for PNG Project Partner
Rigzone — InterOil has retained Morgan Stanley & Co. and UBS AG as joint financial advisors to assist InterOil with its soliciting and evaluating proposals from potential strategic partners in the LNG proj.
Mar 27, 2012 — InterOil driving change
The National — InterOil supported remote Gulf Province communities through health and education programmes, including village birth attendant training for local women covering maternal health, childbirth, family planning, HIV/AIDS awareness and nutrition.
Mar 29, 2012 — InterOil Updates PNG Well Status, Extends LNG Agreement
Rigzone — InterOil Corporation announced that the Triceratops-2 well in Papua New Guinea was drilled to a total depth of 5,971 feet.
May 1, 2012 — Gas and petroleum: the year of heavy lifting
Business Advantage PNG — Papua New Guinea’s oil and gas sector continues to attract new entrants as its ExxonMobil-led PNG LNG liquefied natural gas project moves inexorably towards a production stage.
Jul 17, 2012 — InterOil funds teacher training
The National — InterOil funded teacher training programmes in Gulf Province to strengthen the skills of local educators and improve the quality of education for students in remote communities.
Aug 24, 2012 — Priority for InterOil
The National — InterOil identified the development of its Elk-Antelope gas resources and progress toward an LNG project as a key priority, alongside continued exploration and investment in Papua New Guinea.
Oct 5, 2012 — InterOil processes PNG crude
The National — InterOil processed more than 50,000 barrels of Papua New Guinea crude at its Napa Napa refinery, supporting domestic fuel supply while demonstrating the refinery’s capacity to process locally produced crude.
Oct 17, 2012 — InterOil to sell LNG stakes
The National — InterOil planned to sell stakes in its LNG projects to strategic partners to help finance development, while retaining a significant interest in the projects and advancing the Elk-Antelope gas resources toward production.
Nov 18, 2012 — InterOil gets green light on Gulf plan
The National — PNG’s Cabinet approved a 50-50 state and InterOil interest in the Gulf LNG project, allowing InterOil to proceed with its planned 3.8 million tonnes per annum LNG development and begin negotiations with potential project partners.
Nov 30, 2012 — Papua New Guinea: Antelope-3 well encounters gas
Oil & Gas Journal — InterOil Corp., Houston, said its Antelope-3 appraisal well in Papua New Guinea penetrated the top of the reservoir 217 ft high to prognosis, began flowing gas, and was shut-in.
Dec 10, 2012 — Papua New Guinea: InterOil touts Antelope-3 test outcome
Oil & Gas Journal — InterOil Corp., Houston, said its Antelope-3 well in Papua New Guinea drillstem tested in the upper limestone reservoir at the maximum rate of 44.8 MMcfd of gas with 2,331 psi flowing tubing pressure and that gas composition is similar to that at its Antelope-1 and 2 wells.
Dec 11, 2012 — InterOil unveils new gas find
The National — InterOil’s Antelope-3 well tested natural gas and condensate at a maximum rate of 44.8 mmcfd, with a flowing tubing pressure of 2,331 psi and condensate production of 10.4–14.9 barrels per million cubic feet.
Jan 2, 2013 — Antelope reefal reservoir continuity confirmed
Oil & Gas Journal — InterOil Corp., Houston, said its Antelope-3 well reached total depth on Dec. 25, 2012, and that the wireline logging program is in progress.
Jan 9, 2013 — InterOil Confirms Continuity of the Antelope Reefal Reservoir and Extends LNG Agreements
Papua New Guinea Today — InterOil’s Antelope-3 well reached a total depth with a hydrocarbon column of approximately 2,301 feet (701 meters), the tallest encountered in the Antelope field to date, while preliminary logging confirmed a carbonate reservoir consistent with Antelope-1 and Antelope-2.
Feb 11, 2013 — Milestone for InterOil
The National — InterOil marked its 100th crude oil shipment at the Napa Napa refinery, unloading 650,000 barrels of Kutubu crude and highlighting a nine-year safety record with no accidents or oil spills since the refinery’s establishment in 2004.
Mar 21, 2013 — InterOil builds complex for Wabo government station
The National — InterOil built a modern office and accommodation complex at Wabo government station in Gulf Province to support government and police services, alongside a trade store for landowners and assistance in bringing telecommunications access to the remote community.
Apr 11, 2013 — InterOil builds office and housing complex in Gulf
The National — InterOil built a modern office and accommodation complex in Wabo, Gulf Province, to strengthen local government services, alongside a trade store supporting landowner entrepreneurship and assistance for health and education services.
Apr 23, 2013 — InterOil Corporation Announces the Retirement of CEO Phil Mulacek
PR Newswire
May 29, 2013 — ExxonMobil and InterOil get together on second gas project
Business Advantage PNG — Papua New Guinea’s much-anticipated second gas project could turn out to be an extension of its first, as ExxonMobil commences exclusive negotiations with InterOil and Pacific LNG.
2016–2017 | ExxonMobil’s Acquisition of InterOil
News coverage of the acquisition.
Jul 21, 2016 — ExxonMobil to Acquire InterOil in Transaction Worth More Than US$2.5 Billion
ExxonMobil
Jul 21, 2016 — ExxonMobil buys InterOil in $2.5bn deal
City A.M.
Jul 21, 2016 — Exxon Mobil Acquires InterOil
The New York Times
Jul 22, 2016 — ExxonMobil to acquire InterOil in transaction worth more than $2.5 billion
F&L Asia
Feb 23, 2017 — ExxonMobil completes InterOil acquisition
Offshore Energy
May 18, 2017 — Acquisition of InterOil to boost business: Barry
Post Courier
A Historical Record of InterOil’s Media Coverage
These articles provide a chronological account of InterOil’s evolution, tracing its journey from its early refining and petroleum operations through its exploration programme, major gas discoveries, LNG ambitions, strategic partnerships and its eventual acquisition.
The article serves as a historical reference. All articles remain the property of their respective publishers, and readers are encouraged to follow the provided links to access the original reporting.