MOL Group’s exploration efforts in the TAL Block in Pakistan are proving successful, as the company has made its eighth discovery in the block.
In a news release, MOL Group said its Makori-Deep-1 exploration well reached its target depth of 5,067 m on April 7. During testing, the well flowed oil and gas in Lockhart-1 formation at a rate of 2,020 barrels of oil per day and 5.4 million standard cubic feet per day, respectively.
“This new discovery has derisked exploration in deeper fault blocks in the TAL block leading to new upside opportunities,” Dr. Berislav Gašo, MOL Group’s E&P COO, said in the release. “ Further, this new discovery will help to improve the energy security of the country.”
Partners in the JV consortium are Oil and Gas Development Co. Ltd., Pakistan Petroleum Ltd., Pakistan Oilfields Ltd. and Government Holdings (Private) Ltd.
Recommended Reading
U.S. Shale-catters to IPO Australian Shale Explorer on NYSE
2024-05-04 - Tamboran Resources Corp. is majority owned by Permian wildcatter Bryan Sheffield and chaired by Haynesville and Eagle Ford discovery co-leader Dick Stoneburner.
1Q24 Dividends Declared in the Week of April 29
2024-05-03 - With earnings season in full swing, upstream and midstream companies are declaring quarterly dividends. Here is a selection of dividends announced in the past week.
Analyst Questions Kimmeridge’s Character, Ben Dell Responds
2024-05-02 - The analyst said that “they don’t seem to be particularly good actors.” Ben Dell, Kimmeridge Energy Partners managing partner, told Hart Energy that “our reputation is unparalleled.”
Tellurian Reports Driftwood LNG Progress Amid Low NatGas Production
2024-05-02 - Tellurian’s Driftwood LNG received an extension through 2029 with authorization from the Federal Energy Regulatory Commission and the U.S. Army Corps of Engineers.
Zeta Energy Appoints Michael Everett as COO
2024-05-02 - Prior to joining Zeta Energy, a lithium-sulfur battery developer, Michael Everett previously served as president and COO at Advanced Battery Concepts.