Indonesia
GeoPetro Resources Co., San Francisco, submitted to Indonesia's BPMIGAS agency a work program for the 2.4 million acre Yapen block production sharing contract off northern Irian Jaya that includes spudding an exploration well in the fourth quarter.
The 2003 work program also includes processing of 2D seismic data acquired in 2001 and reinterpreting seismic of old and new vintage. Well cost is put at $6.25 million for a dry hole and $7 million for a completed and tested well. Drilling hinges on availability of a floating rig and favorable weather.
GeoPetro's 40% owned Continental Energy Yapen Ltd., to be renamed Continental GeoPetro Yapen Ltd., owns a 10% carried interest in the Yapen block after its recent farmout of 90% interest and block operatorship to PT Exspan Indonesia.
GeoPetro said a number of prospects and leads have been identified on the block, and that the prospects are in clastic and carbonate reservoirs with demonstrated structural closure (OGJ, Oct. 28, 2002, p. 50).
Trinidad and Tobago
Vermilion Resources Ltd., Calgary, reported its Carapal Ridge natural gas discovery well was brought onstream Dec. 12 for a 6-month test contract.
The well is expected to flow at a gross rate of 20 MMscfd of gas and 700 b/d of condensate. Aventura Energy Inc., a Vermilion Resources subsidiary, operates the well. Petrotrin, the state-owned company of Trinidad and Tobago, owns 35% interest.
Carapal Ridge's production is tied into a Trinidad National Gas Co. gas line. Following the test, the well will be shut in for as long as 3 months to accommodate a pressure build and more reserve analysis, Vermilion said.
Alberta
Promax Energy Inc., Calgary, drilled a Cretaceous Mannville channel gas discovery in late 2002 and plans significant additional activity this year subject to availability of funds.
Six of 8 wells drilled to the Mississippian in 2002 resulted in discoveries. The most recent had an initial flow rate of 1.6 MMcfd of gas at 1,154 psi flowing bottomhole pressure and 1,252 psi shut-in BHP. CAOF potential is 17.7 MMcfd on a 1-point flow and buildup test. Promax did not give the well location, but the company operates in southeastern Alberta.
All 24 wells the company drilled in 2002 are capable of production from Medicine Hat or shallower zones. Plans for 2003 call for the drilling of as many as 60 Mississippian wells and 180 Medicine Hat wells.
Gulf of Mexico
Stone Energy Corp., Lafayette, started production from a discovery on West Cameron Block 45 in mid-December.
The single well produced 25.2 MMcfd of gas and 125 b/d of oil from an undisclosed interval. Drilled to 16,444 ft, the well cut 59 net ft of gas productive sand. Range Resources Corp., Fort Worth, has a 25% working interest.
Montana
A Canadian independent plans to step up exploration in Montana.
K2 Energy Corp., Calgary, obtained rights to an additional 100,000 tribal mineral acres on the Blackfeet Reservation in northern Montana with consent to lease a further 100,000 acres of "allottee" and "fee" lands within a designated 200,000 acre block.
Upon federal approval, K2 will hold 550,000 acres on the reservation.
The new acreage increases the company's Bow Island gas development prospect on the eastern edge of the reservation to 200,000 acres (OGJ Online, July 24, 2002).
Oklahoma
Kerr-McGee Corp. unit KMOG Onshore LP completed the sale of part of its West Texas and Oklahoma assets to Aethon I LP for $127 million.
The transaction, retroactive to Sept. 1, 2002, included 16 fields with estimated net daily production of 4,900 b/d of oil and 7 MMcfd of gas.
Texas
West Central
Voorhees (Bluff Creek) is the name given to a new field discovery in Shackelford County 10 miles northeast of Albany.
Patriot Operating/Phoenix Exploration of Houston said the No. 2 well on the Voorhees lease pumped 116 b/d of 38° gravity oil and 105 b/d of water with gas too small to measure from perforations at 1,634-41 ft on completion last October. TD is 1,780 ft.
