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View more highlights at Hart Energy's Drilling Activity database.
A Mississippi Canyon Block 503-Pliocene discovery was announced by LLOG Exploration. The #001S0B0 OCS G27277 was directionally drilled to 19,050 ft with a true vertical depth of 17,625 ft. It produced 1,089 bbl of 47°API oil and 22.519 MMcf/d of gas from a perforated zone at 12,574 ft to 12,630 ft. The well was tested on an unreported choke size with a flowing tubing pressure of 5,606 psi and a shut-in casing pressure of 5,650 psi.
Touchstone Energy announced results from flowback testing at #1-Cascadura Deep. According to the company, the results confirm a liquids-rich gas discovery on the Ortoire Block onshore Trinidad and Tobago. The average flowback rate during the extended 24-hour test period was approximately 4,262 boe/d (22.9 MMcf of gas and 449 bbl of 59.5°API NGL). It was tested on a 50/64-inch choke and the flowing tubing pressure was 1,856 psi. Field analysis indicated liquids rich gas with no hydrogen sulfide and no produced water. The well is shut in for a minimum four-week pressure buildup test. The well was drilled to 8,303 ft, and it hit a total sand thickness of 2,100 ft in multiple, stacked thrust sheets in the Herrera section. Calgary-based Touchstone has an 80% operating working interest in the well with partner Heritage Petroleum (20%).
London-based Neptune Energy announced an updated volume estimate for its Dugong discovery. Based on the results from appraisal well #34/4-16 S, the recoverable resources is 40 MMboe to 108 MMboe. The primary appraisal target for #34/4-16 S was to delineate the discovery made in Rannoch in wells #34/4-15 S and #34/4-15 A. A drillstem test on the well is planned at a later stage. The discovery is close to the existing production facilities of the Snorre and Statfjord fields. The reservoir lies at a depth of 3,250 m to 3,500 m, and area water depth is 330 m. The Dugong license partners are Neptune Energy (operator and 45%), Petrolia (20%), Idemitsu (20%) and Concedo (15%).
Saudi Aramco, which is at par with Apple Inc. as the world’s most valuable company, reported a net income of $39.5 billion for the quarter to March 31 from $21.7 billion a year earlier.
Despite the efforts of the divestiture movement, the oil and gas sector’s 12-month performance clobbers that of the market as a whole.
Black Bay is a private equity firm based in New Orleans focusing on investments in the North American energy sector requiring up to $30 million of equity capital.