Showing posts with label spuds. Show all posts
Showing posts with label spuds. Show all posts

Tuesday, July 9, 2013

Exxon Spuds Dunquin Well Offshore Ireland

Irish explorer Providence Resources reported Tuesday that drilling has begun on the 44/23-1 well at the Dunquin exploration prospect in Frontier Licence 3/04 (FEL 3/04) off the west coast of Ireland.

Providence said that the operator, ExxonMobil, is expected to take several months to complete drilling operations using the Eirik Raude (DW semisub) rig.

Providence Chief Executive Tony O'Reilly commented in a company statement:

"We are pleased to confirm that drilling operations on the Dunquin exploration well have now commenced. This is a landmark well given that it is the first to be drilled in the central part of the deep-water southern Porcupine Basin and is designed to test a new and potentially material Lower Cretaceous carbonate exploration play concept. The 44/23-1 well is the second of six wells being drilled as part of Providence's Irish concerted multi-basin, multi-well drilling programme which kicked off in November 2011 with the Barryroe appraisal well."

The Dunquin target is a large gas prospects that is estimated to contain some 1.7 billion barrels of oil equivalent. Providence will be hoping that Exxon can replicate its own success in the Celtic Sea off the south coast of Ireland, where Providence's Barryroe discovery was recently estimated to contain recoverable resources of 346 million barrels of oil equivalent.

Exxon has a 27.5-percent interest in FEL 3/04. Its partners include: Eni, with 27.5 percent; Repsol, with 25 percent; Providence, with 16 percent; and Sosina Exploration, with four percent.

A former engineer, Jon is an award-winning editor who has covered the technology, engineering and energy sectors since the mid-1990s. Email Jon at jmainwaring@rigzone.com.

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Monday, July 8, 2013

Jubilant Spuds Third Kharsang Well

South Asia-focused Jubilant Energy announced Monday that it has spud the third well of its Phase III Extension development drilling campaign in the oil-producing Kharsang Field in Arunachal Pradesh, India. Jubilant plans six wells in total in this drilling campaign.

The well, designated KPL-3E-6, is located in the central part of the field and is aimed at exploiting untapped hydrocarbons in the infill area between wells KSG No.11 and KSG No.25. The well is targeting the H-00 layer, with the G-00 and I-00 layers as secondary objectives.

The well will be drilled to a target depth of approximately 3,350 feet and is expected to take approximately three weeks to drill.

The second development well, spud March 23, was successfully drilled to a target depth of 3,700 feet. Twelve potentially hydrocarbon-bearing sands have been encountered in the well, with a total net pay of some 165 feet. Seven of these wells appear to be oil bearing, said Jubilant.

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Saturday, July 6, 2013

Exxon Spuds Dunquin Well Offshore Ireland

Irish explorer Providence Resources reported Tuesday that drilling has begun on the 44/23-1 well at the Dunquin exploration prospect in Frontier Licence 3/04 (FEL 3/04) off the west coast of Ireland.

Providence said that the operator, ExxonMobil, is expected to take several months to complete drilling operations using the Eirik Raude (DW semisub) rig.

Providence Chief Executive Tony O'Reilly commented in a company statement:

"We are pleased to confirm that drilling operations on the Dunquin exploration well have now commenced. This is a landmark well given that it is the first to be drilled in the central part of the deep-water southern Porcupine Basin and is designed to test a new and potentially material Lower Cretaceous carbonate exploration play concept. The 44/23-1 well is the second of six wells being drilled as part of Providence's Irish concerted multi-basin, multi-well drilling programme which kicked off in November 2011 with the Barryroe appraisal well."

The Dunquin target is a large gas prospects that is estimated to contain some 1.7 billion barrels of oil equivalent. Providence will be hoping that Exxon can replicate its own success in the Celtic Sea off the south coast of Ireland, where Providence's Barryroe discovery was recently estimated to contain recoverable resources of 346 million barrels of oil equivalent.

Exxon has a 27.5-percent interest in FEL 3/04. Its partners include: Eni, with 27.5 percent; Repsol, with 25 percent; Providence, with 16 percent; and Sosina Exploration, with four percent.

A former engineer, Jon is an award-winning editor who has covered the technology, engineering and energy sectors since the mid-1990s. Email Jon at jmainwaring@rigzone.com.

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Friday, June 21, 2013

Wintershall Spuds Mjosa Well

Anglo-Norwegian junior Bridge Energy reported Monday the spudding of the Mjøsa exploration well on production license 511 in the Norwegian Sea.

Operated by Wintershall, exploration well 6406/6-3 is located around six miles northeast of the Linnorm discovery in the Haltenbanken area of the Norwegian Sea. It is targeting Lower and Middle Jurassic reservoirs.

Bridge – which has a 7.5 percent stake in the license – said the estimated un-risked mean potential of Mjøsa attributed to the company is 14 million barrels of oil equivalent.

Other parties involved in the well include: Wintershall, with 25 percent; Maersk, also with 25 percent; Petoro, with 20 percent; VNG, with 12.5 percent; and Tullow, which has a 10-percent stake.

The well is being drilled by the Transocean Arctic (mid-water semisub) rig.

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Noble Energy Spuds Carla South Prospect Offshore West Africa

Noble Energy Inc. began drilling the I-7 exploratory well on the Carla South prospect in Block I using the Atwood Hunter (DW semisub) last week, PA Resources reported.

The Carla South prospect is on trend with the Carla North discovery recently appraised in Block O to the north of Block I, which houses the Aseng field, in Equatorial Guinea, PA Resources stated in a press release. The operator, Noble Energy, is targeting Tertiary sandstones of similar age to those in the discovery to the north. Drilling is expected to reach total depth in around 25 days with plans for a subsequent sidetrack of similar duration.

"We are very glad to have resumed exploration drilling in Block I, following an extended period focused on development of the Aseng and Alen Fields," said PA Resources' CEO Bo Askvik in a press release. "In addition it is likely that an appraisal well will be drilled in Block I later this year on the existing Diega discovery and this year's drilling program will be valuable in progressing the next field development or developments in Block I."

The Carla discovery that was made in November 2011 encountered 26 feet of oil pay in good quality upper Oligocene sands below the Alen field. It was drilled in 1,900 feet of water and reached a total depth of 11,500 feet. Noble Energy estimates between 35-100 million barrels of oil equivalent, of which 80 percent are liquids, at the Carla prospect.

Noble plans to develop the field and connect it to the producing Aseng field in Block I, or the Alen field in Block O, that is due to come onstream in late 2013.

With more than 10 years of journalism experience, Robin Dupre specializes in the offshore sector of the oil and gas industry. Email Robin at rdupre@rigzone.com.

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Sunday, June 16, 2013

Roxi Spuds Kazakh Well

Central Asia-focused Roxi Petroleum announced Wednesday that it spud its BNG Well 143, located on the MJ-F structure on the South Yelemes field in Kazakhstan, on April 1.

The total depth of the well is 8,200 feet and drilling is expected to take around 45 days. The exploration well is targeting Jurassic Callovian sands at a depth of 7,120 feet, while its secondary objective is in Cretaceous Valanginian limestone at a depth of 6,350 feet.

Roxi Chairman Clive Carver commented in a company statement:

"We are pleased to have commenced the 2013 drilling campaign at BNG. This is the first of four planned wells at BNG this year, including two deep wells."

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Thursday, May 30, 2013

Statoil Spuds New Johan Sverdrup Appraisal Well

Sweden's Lundin Petroleum reported Tuesday the spud of appraisal well 16/2-17S on the Statoil-operated production license 265 on the Johan Sverdrup discovery in the Norwegian North Sea.

The well is located close to the western-bounding fault of the Johan Sverdrup discovery and its main objective is to investigate the Jurassic reservoir thickness, quality and distribution close to the fault – approximately a mile southwest of appraisal well 16/2-8 and 1.5 miles west of appraisal well 16/2-11.

The planned total depth is approximately 6,750 feet below mean sea level. The well will be drilled by the Ocean Vanguard (DW semisub) rig in an operation expected to take around 55 days.

Statoil's partners in the well include Petoro, with a 30-percent stake, Det norske oljeselskap, with 20 percent, and Lundin Norway, which has a 10-percent interest.

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Sunday, May 26, 2013

Jubilant Spuds Second Kharsang Extension Well

India-focused Jubilant Energy reported Monday that it has spud the second well of its Phase III Extension development drilling campaign on the oil-producing Kharsang field in the Upper Assam Basin, onshore northeast India.

The KPL-3E-4 well, located in the northwestern area of the field, is being drilled as an infill development well with the H-00 reservoir as the primary objective and the G-00 reservoir as the secondary target. The well is to be deviated by approximately 1,170 feet towards the southeast from the existing plinth of well KSG No. 27 and will be drilled to a target depth of approximately 3,550 feet measured depth.

The well is expected to take up to three weeks to drill.

The first development well of the current campaign on the Kharsang field, KSG No. 65, was spud Feb. 18 and was successfully drilled to a target depth of 3,755 feet. Nine potentially hydrocarbon-bearing sands were encountered in the well, with total net pay being 144 feet. Eight of these sands appear to be oil-bearing.

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Thursday, April 25, 2013

Lundin Spuds Luno II Well

Sweden's Lundin Petroleum has spud its exploration well 16/4-6S, targeting the Luno II prospect, located south of the Edvard Grieg field in the Norwegian North Sea, the company announced Tuesday.

Lundin said the main objective of the well is to prove the presence of hydrocarbons in Jurassic reservoir sandstones. The firm estimates the Luno II prospect contains un-risked prospective resources of some 139 million barrels of oil equivalent.

The planned total depth of the well is approximately 6,890 feet below mean sea level and the well will be drilled using the Bredford Dolphin (mid-water semisub) rig.

Lundin is the operator of production license 359, where Luno II is located. It has a 40-percent interest in the license, while Statoil and Premier Oil each have a 30-percent holding.

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Saturday, April 13, 2013

Repsol Spuds Darwin Well

Northern Europe-focused junior Faroe Petroleum reported Monday that Repsol has spud the Darwin exploration well in the Norwegian sector of the Barents Sea.

Repsol, the operator with a 20-percent stake in Darwin, is using the Transocean Barents (UDW semisub) rig to drill the well.

Darwin is located approximately 37 to 50 miles southwest of Statoil's Skrugard and Havis oil discoveries. Several targets have been identified from 3D seismic data, and the well is designed to test the main Darwin prospect and contribute towards further de-risking of the potential in the remainder of production license 531.

According to estimates, Darwin potentially holds one billion barrels of oil equivalent.

Faroe Chief Executive Graham Stewart commented in a statement:

"We are very pleased to announce the spudding of this high impact wildcat well which is our first in the highly prospective Barents Sea. This well is located in the promising western part of the Barents Sea - an area where a major breakthrough was achieved in 2011 with the giant Skrugard oil discovery.

"We have an active 2013 exploration drilling programme which includes several high impact exploration wells including Novus (Norwegian Sea) and two Butch wells (Norwegian North Sea)."

Faroe has a 12.5-percent stake in Darwin, while other partners in the well include Talisman Energy Norge, Marathon Oil Norge, RWE Dea Norge, Det norske Oljeselskap and Concedo.

Faroe is also currently awaiting results from another frontier well, North Uist, located west of Scotland.

A former engineer, Jon is an award-winning editor who has covered the technology, engineering and energy sectors since the mid-1990s. Email Jon at jmainwaring@rigzone.com.

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Wednesday, April 3, 2013

Edge Resources Spuds Saskatchewan Well

Edge Resources Inc. has moved a drilling rig and spud the first of several planned drilling locations in Primate, Saskatchewan.

Resulting from a recently-shot 3D seismic program, the Company has discovered what it believes to be three new oil pools in an area the Company calls Asset East. The rig has been brought in to start the development program of Asset East and is drilling the first of what the Company expects will be many development and delineation wells drilled into these oil pools.

The Company believes these new pools hold a significant amount of reserve value and net present value.

Log and production information from the initial wells can be used to define a much larger developmental drilling program, which could require up to an additional 80 vertical locations to fully develop the pools.

Brad Nichol, President and CEO of Edge commented, "We are excited to continue upon our initial drilling and seismic successes resulting in the initial pool discoveries. Now the team is focused on the longer-term development of Asset East in Primate. Along those lines, we are also pleased to have received final approval for a water disposal program in Asset East, which fits very nicely into the long-term development plan for these pools."

As a key component to the full development plan for Asset East, the Company is very pleased to have recently received approval to inject produced water, if required, into a nearby existing wellbore on Company-owned lands. If water disposal is required, this approval is anticipated to drastically reduce the cost of water handling as the field is more fully developed.

The Company has a 100 percent working interest in all of their Primate, Saskatchewan properties - a total of 20 gross/net sections (12,800 acres).

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Tuesday, March 26, 2013

Regal Petroleum Spuds Ukraine SV-59 Well

Regal Petroleum plc announced the spud of the SV-59 well at its 100% owned and operated Mekhediviska-Golotvshinska and Svyrydivske (SV) gas and condensate fields in Ukraine.

The well has a target depth of 17,946 feet (5,470 meters), with drilling operations scheduled to be completed in December 2013 and, subject to successful testing, production hook-up by the end of the first quarter of 2014. The well is targeting the Visean reservoirs ("B-Sands").

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Saturday, March 9, 2013

Lundin Spuds Jorvik Exploration Well

Lundin Petroleum announced Monday that it has spud an exploration well targeting its Jorvik prospect in the Norwegian North Sea. Well 16/1-17, on production license 338, is located east of the Edvard Grieg field.

The main objective of well 16/1-17 is to prove the presence of oil-bearing sandstones and conglomerates in a basin directly east of Edvard Grieg. Lundin estimates that the Jorvik prospect contains un-risked, gross prospective resources of 46 million barrels of oil equivalent. Lundin, as operatorm, holds a 50-percent working interest in PL 338 while Wintershall Norge and OMV hold 30 percent and 20 percent respectively.

On a day that the Swedish company made a number of announcements, Lundin also revealed that it is to test appraisal well 16/3-5 on production license 501 in the southeastern part of the Johan Sverdrup discovery after it reached its target depth.

Lundin said the appraisal well has drilled through reservoir sections consisting mainly of good quality Volgian reservoir sand and Zechstein carbonates. The top of the Volgian reservoir sandstone was found at 6,210 feet below mean sea level. The total gross reservoir column is approximately 98 feet, of which 46 feet is gross Volgian reservoir.

The oil-bearing Zechstein limestone is in pressure communication with the overlying sand and provides potential upside resources, according to Lundin. Oil has been sampled in both reservoir zones and the well will now drill stem test the two zones.

The well is being drilled by the Bredford Dolphin (mid-water semisub) rig and the testing will take approximately 20 days.

Meanwhile, Lundin added that it will not provide further updates on contingent resources at the Johan Sverdrup discovery since the working operator for the field, Statoil, has indicated that it plans to release details of updated resources later in the year, once conceptual development studies are completed.

"We feel it is appropriate that the working operator of Johan Sverdrup provide updated resource numbers. As the operator of PL501 we continue with our appraisal drilling program which provides new information for both development planning and recoverable resources," Lundin CEO Ashley Heppenstall commented in a company statement.

"The results of the appraisal drilling to date taken as a whole lead us to the view that the current most likely mid case Johan Sverdrup resources located in PL501 will be within the lower half of the previously guided 800-to-1800 million barrel of oil equivalent range. We also believe that the resource calculation range remains wide."

A former engineer, Jon is an award-winning editor who has covered the technology, engineering and energy sectors since the mid-1990s. Email Jon at jmainwaring@rigzone.com.

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Lundin Spuds Jorvik Exploration Well

Lundin Petroleum announced Monday that it has spud an exploration well targeting its Jorvik prospect in the Norwegian North Sea. Well 16/1-17, on production license 338, is located east of the Edvard Grieg field.

The main objective of well 16/1-17 is to prove the presence of oil-bearing sandstones and conglomerates in a basin directly east of Edvard Grieg. Lundin estimates that the Jorvik prospect contains un-risked, gross prospective resources of 46 million barrels of oil equivalent. Lundin, as operatorm, holds a 50-percent working interest in PL 338 while Wintershall Norge and OMV hold 30 percent and 20 percent respectively.

On a day that the Swedish company made a number of announcements, Lundin also revealed that it is to test appraisal well 16/3-5 on production license 501 in the southeastern part of the Johan Sverdrup discovery after it reached its target depth.

Lundin said the appraisal well has drilled through reservoir sections consisting mainly of good quality Volgian reservoir sand and Zechstein carbonates. The top of the Volgian reservoir sandstone was found at 6,210 feet below mean sea level. The total gross reservoir column is approximately 98 feet, of which 46 feet is gross Volgian reservoir.

The oil-bearing Zechstein limestone is in pressure communication with the overlying sand and provides potential upside resources, according to Lundin. Oil has been sampled in both reservoir zones and the well will now drill stem test the two zones.

The well is being drilled by the Bredford Dolphin (mid-water semisub) rig and the testing will take approximately 20 days.

Meanwhile, Lundin added that it will not provide further updates on contingent resources at the Johan Sverdrup discovery since the working operator for the field, Statoil, has indicated that it plans to release details of updated resources later in the year, once conceptual development studies are completed.

"We feel it is appropriate that the working operator of Johan Sverdrup provide updated resource numbers. As the operator of PL501 we continue with our appraisal drilling program which provides new information for both development planning and recoverable resources," Lundin CEO Ashley Heppenstall commented in a company statement.

"The results of the appraisal drilling to date taken as a whole lead us to the view that the current most likely mid case Johan Sverdrup resources located in PL501 will be within the lower half of the previously guided 800-to-1800 million barrel of oil equivalent range. We also believe that the resource calculation range remains wide."

A former engineer, Jon is an award-winning editor who has covered the technology, engineering and energy sectors since the mid-1990s. Email Jon at jmainwaring@rigzone.com.

Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.
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Monday, February 18, 2013

Incremental Oil and Gas Starts Sidetrack Operations, Spuds New Well

Incremental Oil and Gas disclosed Friday that it has started on sidetracking operations at the Patti 32-29 well. The company noted that the Capstar 311 rig began operations on Jan.17.

A hole was milled in the casing of the existing Patti well - which had produced over 300 barrels of oil while drilling the initial well, but was never completed commercially - and a horizontal well drilled through the productive Pierre Formation to a total measured depth of 4,367 feet. The horizontal section of the well was over 1,000 feet long.

Separately, the company spudded the Aurora 24-21 well on Jan. 28. The deviated well is designed to target a seismically defined anomoly.

"Excellent shows with free oil to surface were encountered below 2,910 feet. The current operation is finishing the running of a casing to the total depth of 3,260 feet," Incremental Oil and Gas said.

The company plans to complete both of the wells with a cheaper workover rig.

"The nature of naturally fractured reservoirs means that it is not possible to predict the productivity of the wells until they are brought onto production in the coming weeks. Production rates will only be reported once flow rates are stabilized," Incremental Oil and Gas said.

Incremental Oil and Gas added that the Capstar rig will be placed on standby for about a week amid construction for the locations of the third and fourth well of the company's drilling campaign, which is taking place in its wholly owned Florence oilfield in Colorado.

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Sunday, February 17, 2013

Incremental Oil and Gas Starts Sidetrack Operations, Spuds New Well

Incremental Oil and Gas disclosed Friday that it has started on sidetracking operations at the Patti 32-29 well. The company noted that the Capstar 311 rig began operations on Jan.17.

A hole was milled in the casing of the existing Patti well - which had produced over 300 barrels of oil while drilling the initial well, but was never completed commercially - and a horizontal well drilled through the productive Pierre Formation to a total measured depth of 4,367 feet. The horizontal section of the well was over 1,000 feet long.

Separately, the company spudded the Aurora 24-21 well on Jan. 28. The deviated well is designed to target a seismically defined anomoly.

"Excellent shows with free oil to surface were encountered below 2,910 feet. The current operation is finishing the running of a casing to the total depth of 3,260 feet," Incremental Oil and Gas said.

The company plans to complete both of the wells with a cheaper workover rig.

"The nature of naturally fractured reservoirs means that it is not possible to predict the productivity of the wells until they are brought onto production in the coming weeks. Production rates will only be reported once flow rates are stabilized," Incremental Oil and Gas said.

Incremental Oil and Gas added that the Capstar rig will be placed on standby for about a week amid construction for the locations of the third and fourth well of the company's drilling campaign, which is taking place in its wholly owned Florence oilfield in Colorado.

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Saturday, February 16, 2013

ROC Spuds Balai RSC Exploration Well Offshore East Malaysia

ROC revealed Friday that BC Petroleum, the company incorporated to operate and manage the Balai Cluster Risk Service Contract (RSC) in Malaysia, has started drilling the Spaoh-2 well at 1930 local time Thursday. At 0600 local time, the well was drilling ahead at 1,070 feet (326 meters).

Spaoh-2, sited in the Spaoh field offshore East Malaysia, will be drilled to around 8,892 feet (2,710 meters).

The Balai Cluster RSC consists of four fields: Balai, Bentara, West Acis and Spaoh. Petronas entered into a RSC for the pre-development and development of the Balai Cluster fields in 2011 with ROC and Dialog. Under the RSC agreement, ROC is expected to complete the pre-development phase for the fields by mid-2013. On successful completion of the pre-development phase and agreement on the economic viability of the fields, ROC will submit a field development plan, and progress to development of the fields.

There are currently two RSCs in place offshore Malaysia: the Balai Cluster RSC and the Kapal, Banang and Meranti RSC (KBM RSC). Malaysia announced Jan.25 that it has decided not to proceed with the award of the Small Field Risk Service Contract (RSC) for the Tembikai and Chenang Cluster.

RSC contracts from Petronas have drawn much interest among international oil exploration companies, given Malaysia's renewed focus on developing its domestic oil and gas assets.

Back in 2011, Petronas noted that it aimed to award four marginal fields per year. However, as only two RSCs have been dished out over the last two years, industry watchers say that Petronas could ramp up on its efforts on the RSC front, and look to award more contracts this year in order to meet its oil production targets. 

Quintella has reported on the upstream and downstream oil and petrochemicals markets from 2004. Email Quintella at quintella.koh@rigzone.com.

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Friday, February 15, 2013

ROC Spuds Balai RSC Exploration Well Offshore East Malaysia

ROC revealed Friday that BC Petroleum, the company incorporated to operate and manage the Balai Cluster Risk Service Contract (RSC) in Malaysia, has started drilling the Spaoh-2 well at 1930 local time Thursday. At 0600 local time, the well was drilling ahead at 1,070 feet (326 meters).

Spaoh-2, sited in the Spaoh field offshore East Malaysia, will be drilled to around 8,892 feet (2,710 meters).

The Balai Cluster RSC consists of four fields: Balai, Bentara, West Acis and Spaoh. Petronas entered into a RSC for the pre-development and development of the Balai Cluster fields in 2011 with ROC and Dialog. Under the RSC agreement, ROC is expected to complete the pre-development phase for the fields by mid-2013. On successful completion of the pre-development phase and agreement on the economic viability of the fields, ROC will submit a field development plan, and progress to development of the fields.

There are currently two RSCs in place offshore Malaysia: the Balai Cluster RSC and the Kapal, Banang and Meranti RSC (KBM RSC). Malaysia announced Jan.25 that it has decided not to proceed with the award of the Small Field Risk Service Contract (RSC) for the Tembikai and Chenang Cluster.

RSC contracts from Petronas have drawn much interest among international oil exploration companies, given Malaysia's renewed focus on developing its domestic oil and gas assets.

Back in 2011, Petronas noted that it aimed to award four marginal fields per year. However, as only two RSCs have been dished out over the last two years, industry watchers say that Petronas could ramp up on its efforts on the RSC front, and look to award more contracts this year in order to meet its oil production targets. 

Quintella has reported on the upstream and downstream oil and petrochemicals markets from 2004. Email Quintella at quintella.koh@rigzone.com.

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Friday, January 25, 2013

Mahalo Project Spuds First Step-Out Core Hole

Scrubber Gully 2 is the first of four step-out core holes to be drilled following the recent drilling of pilot production wells in the Mira field.

Scrubber Gully 2 is located approximately three miles southeast of the Mira field pilot wells and is approximately 152 miles west of Gladstone in central Queensland. The well is expected to reach a total depth of approximately 1,640 feet.

Scrubber Gully 2, and three further step-out core holes, will be cored through the reservoir section to further extend the area available for booking reserves in the Mahalo block.

Comet Ridge currently has a 35 percent interest in ATP 337P Mahalo, having divested a five percent interest in the asset to Stanwell Corporation in an agreement announced in September 2011. Under the terms of that agreement, Stanwell Corporation Limited will fund Comet Ridge's expenditure for the Mahalo field and Mira field pilot schemes and step-out drilling. The agreement also gives Stanwell Corporation an option to purchase half or all of Comet Ridge's equity in the Mahalo block, based on 2P reserves booked.

Equity participants in ATP 337P Mahalo are Comet Ridge Mahalo Pty Ltd (35%), Stanwell Corporation Limited (5%), Australia Pacific LNG Pty Ltd (30%) and Santos QNT (30%).

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Monday, December 17, 2012

Max spuds new Kazakh well

Max Petroleum (MXP) has spudded the ESKN-1 exploration well on the Eskene North prospect in Kazakhstan.

The Eskene North prospect, a four-way anticline, is targeting unrisked mean resources of nine million barrels of oil in Triassic reservoirs.

The total vertical depth of the well will be approximately 1,400 metres.

However, analysts at FoxDavies warned investors that cash was "still an issue" for the oil and gas exploration and production company: "How this gets monetised will remains a longer-term issue for management to tackle," they said.



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