By OGJ editors
HOUSTON, Feb. 25 – Salamander Energy PLC reported large increases in proved and probable reserves at Bualuang oil field on the B8/38 license in the Gulf of Thailand, where it is preparing to start development drilling.
Consulting engineers analyzed field performance and modeled individual wells, revised proved reserves to 14.6 million bbl from 6.9 million bbl and upgraded proved and probable reserves to 27 million bbl from 19.5 million bbl. Salamander has 100% interest.
The license contains the field and several prospects. Salamander has the Ocean Sovereign jack up under contract until the end of June 2011 and is preparing to spud the first of six development wells with a goal of hiking production to 11,000 b/d from 8,200 b/d in 2010. Output could reach 15,000 b/d in 2013 from Bualuang alone.