Iraq
Niko Resources Ltd., Calgary, began field scouting in the 846 sq km Qara Dagh block in Iraq’s Kurdistan Region and sought tenders for a 500 line-km 2D seismic survey.
The budget for the year ending Mar. 31, 2009, covers the seismic program, drilling an exploration well, and bonuses required under the production-sharing contract, signed in May.
Morocco
Circle Oil PLC said a completed 3D seismic survey on the Sebou license in Morocco’s Rharb basin outlined many anomalies, each of which could contain gas.
A rig is under contract to begin drilling in July 2008.
Circle Oil will soon sign an agreement with state ONHYM exercising its option to participate in the ONZ-4 well, which discovered gas in the Sebou area in August 2006. The well is to go on production shortly and will provide Circle Oil’s first cash flow.
Nicaragua
Norwood Resources Ltd., Vancouver, BC, plans to test its indicated discovery wells in western Nicaragua starting around the end of July 2008 and may resume drilling later in the year.
Analysis of whole core from the Maderas Negras well has resulted in recalculation of the net hydrocarbon thickness in the Brito formation to 286 ft from 138 ft.
Meanwhile, using its own rig the company swabbed 45-47° gravity oil and gas from Brito perforations at 5,915-50 ft for 10 hr. The tested interval was previously calculated to have 30 ft of net reservoir but only 1.5 ft of net hydrocarbons.
No rates were measured, but the volumes of oil and gas recovered strongly suggest that the earlier calculation of net hydrocarbons is too conservative, the company said. The well continued to flow gas after swabbing ceased.
The company plans to swab-test nine of the remaining 10 perforated intervals using a service rig and crew from Villa- hermosa, Mexico.
Russia
Transmeridian Exploration Inc., Houston, and DNK LLC plan an initial work program in Gasha and Selli oil and gas fields and the Ullu Chai anticline on trend with Selli field in Piedmont Dagestan, Russia.
Initial work will include 200 sq km of 3D seismic, reentering four wells, and drilling two new wells. Transmeridian owns 50% of DNK. The fields are near the Caspian Sea northwest shore (see map, OGJ, Dec. 29, 1997, p. 29).
The fields each produced 3 million bbl of oil and 4.4 bcf of gas from 8 and 17 wells, respectively, from Cretaceous anticlinal fractured carbonates and an overlying Foraminiferal reservoir in 1957-76. Oil and gas were encountered in the shallower Tertiary Maykop section but not developed.
Louisiana
Meridian Petroleum PLC completed the $8.95 million acquisition of 60% of Rozel Energy’s interests in East Lake Verret field in Assumption Parish, La., where Meridian plans to drill as many as three wells to tap proved undeveloped reserves.
Meridian became operator of the field effective July 1, 2008. East Lake Verret is producing 5 MMcfd of gas and 250 b/d of oil.
Texas—West
Approach Resources Inc., Fort Worth, sees more than 600 locations to be drilled to the Pennsylvanian Canyon formation in Ozona Northeast field, Crockett and Schleicher counties, Tex.
Approach acquired additional interest in the 41,176-acre from private J. Cleo Thompson and James Cleo Thompson Jr. LP, Dallas, and others for $12 million. Acquired was a 95% working interest in all depths below the top of the Pennsylvanian Strawn formation.
Approach, which previously owned 100% working interest above the top of Strawn, acquired 7.7 bcfe of proved and 1.7 bcfe of probable reserves, 1.5 MMcfed of net production, and 75 miles of gathering lines and compression.
Approach is reprocessing 3D seismic to help identify more drilling and completion opportunities. It sees potential in the Canyon, Strawn, and Ellenburger on the properties.