Georgia Republic
Frontera Resources Corp., Houston, let a contract to Turkish Petroleum International Co. Ltd. to drill lateral or horizontal extensions from existing wells in Frontera’s Taribani field Unit on Block 12 in the Kura basin. The contract covers 3 wells with an option to drill 6 more wells. The first reentry is to start in late November 2005.
Partly developed Taribani field covers 80 sq km with Miocene and Pliocene reservoirs at 2,200-3,500 m. Consulting engineers assign 118 million bbl of proved, probable, and possible reserves to four of 12 identified horizons.
Thailand
The NuCoastal-PetroWorld partnership plans to seek approval to develop Bua Ban (blossom lotus) field on Block G5/43 in the Gulf of Thailand.
A three-well appraisal program confirmed a gross oil column of more than 570 ft. The wells confirmed the extent of the Lower Oligocene sandstone reservoir originally discovered in the Bua Ban-1 well drilled by Premier Oil PLC in 1990 and tested a flow rate of 760 b/d. Bua Ban-2 reached TD 9,403 ft and encountered 70 ft of net pay at 7,387 ft. Bua Ban-2a, TD 9,595 ft, had an estimated 78 ft of net pay. Bua Ban-3 reached TD 9,156 ft.
Texas
West
PetroGlobe Inc., Calgary, said its US unit and a private Canadian company have acquired 90,000 gross acres in Floyd, Swisher, and Hale counties.
The acreage is being acquired where Pennsylvanian shale thickens and where potential is perceived in shallower San Andres dolomite, Wolfcamp reefs, Cisco-Canyon, and Strawn limestone. Drilling is to start in late 2005 or early 2006 pending rig availability.
Utah
Houston Exploration Co., Houston, signed an Uinta basin gas exploration joint venture with Enduring Resources LLC, Denver.
Each company will contribute 40,000 acres and earn a 50% working interest in all 80,000 acres. After Enduring Resources pays the next $19 million of capital required net to Houston Exploration, enough for about 30 gross wells, the two companies will share expenses equally.
Houston Exploration said its activity is to grow to 3 rigs by yearend from 1 rig at present. The company’s net acreage position in the basin remains at 94,000 acres, and its gross position is now 150,000 acres.