First gas due from gulf’s South Padre Island area

The first discoveries in the South Padre Island federal planning area in the western Gulf of Mexico are to start producing natural gas by yearend.F-W Oil Exploration LLC, private Houston independent, will start flowing 30 MMcfd of dry gas from wells on three blocks 11-12 miles off Port Isabel, Tex. One of the wells is within 6 miles of Mexican waters.F-W Oil Exploration and GE Commercial Finance Energy Financial Services, Stamford, Conn., formed a partnership in which GE Commercial will invest $70 million, its first offshore underwriting. Total project cost exceeds $100 million. The project involves two fixed-leg platforms to handle production from South Padre Island 1166, 1152, and 1145....

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