By OGJ editors
HOUSTON, May 14 -- Teton Petroleum Co., Steamboat Springs, Colo., announced its field production in western Siberia has increased to 4,080 b/d of oil, with 1,020 b/d net to Teton.
Teton has produced oil from Egurayk field since 1997. The company recently completed Well No. 600, which is flowing 730 b/d. Teton anticipates more production with the completion of three more wells expected within another month.
Teton recently began pumping oil through its 40-km pipeline, enabling production year-round from the Eguryak license, 20 miles north of Samotlor supergiant oil field. Until the pipeline was operational, Teton had to truck oil in the winter and barge oil in the summer. It shut down oil production in the fall and spring because of weather conditions.
Last November, Teton announced it had completed a $15 million financing package to build the line (OGJ Online, Nov. 8, 2000).
The company conducts its active business solely through a 50% ownership interest in Goltech Petroleum LLC, a Texas limited liability company.
Goltech operates through ownership of a 70.59% interest in Goloil, a Russian joint stock company. Goloil owns the Eguryak license in western Siberia.