First gas due from gulf’s South Padre Island area

09/12/2005
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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