More Oil & Gas Exploration and Development News

SEVEN INDEPENDENTS FILE BIDS FOR COSTA RICAN FRONTIER BLOCKS

Jan 8, 1990 Costa Rica has received bids from seven independent oil companies for offshore and onshore acreage under its first formal round of bidding for exploration acreage. The sparsely drilled nation received bids for exploration rights covering 11 blocks, mostly in its northeastern interior and coastal regions. Held Dec. 15, 1989, the bidding was the first since the government established Refinadora Costarricense de Petroleo SA (Recope) to coordinate hydrocarbon exploration, development, and refining

WILDCAT CAMPAIGN NEARS IN NW NEW MEXICO

Jan 8, 1990 One of the most widespread and significant exploratory campaigns in recent years will fire up soon. Merrion Oil & Gas Corp. of Farmington has entered into an option agreement with Santa Fe Energy Co. to wildcat on areas of mutual interest on more than 600,000 acres of Santa Fe-held lands in northwestern New Mexico.

U.S. BRIEFS

Jan 8, 1990 PLAINS PETROLEUM CO., Lakewood, Colo., plans further seismic work to define step-out locations to its Minnelusa strike in the Powder River basin in Crook County, Wyo. MRA-Plains 31-28 Federal gauged 630 b/d of 21.7 gravity oil with no water from pay at 7,018-52 ft. Plains and McAdams, Roux & Associates Inc., Denver, each has a 50% working interest in the discovery and jointly own or control about 400 acres in the immediate area.

SHELL HOMES IN ON TROLL FIELD DEVELOPMENT

Jan 8, 1990 Norske Shell will recommend to partners that Troll gas field in the Norwegian North Sea be developed using multiphase flow pipelines and onshore processing instead of a large integrated drilling and production platform. A study of the two systems showed costs are very similar. But greater safety of onshore processing swung Shell in favor of multiphase flow pipelines with onshore gas processing.

ULTRADEEP HIGH-PRESSURE WELL TESTED IN AUSTRIA

Jan 8, 1990 J. Moritz, A. Baumgartner OMV Aktiengesellschaft Vienna Specialized equipment and procedures were needed for carrying out a successful flow test of the deepest reservoir, to date, in Europe. The reservoir, located at 20,712 ft, had a pressure gradient of 18.3 ppg mud. Because the shallow formations in the Austrian basins had been relatively well explored (first commercial oil in 1934), it was necessary to change the exploration strategy and drill deeper.

AUSSIES MAP SPENDING PLANS

Jan 15, 1990 Exploration spending in Australia could reach $725 million (Australian) in 1990, says the Australian Petroleum Exploration Association. Australian operators are expected to boost offshore work to 42-59 wildcats and three to six appraisal wells and 37,000-46,000 line km of seismic. They will drill 98-132 wildcats and 24-31 appraisal wells and acquire 9,0001 1,000 line km of seismic on land. Development spending will top $1 billion. Copyright 1990 Oil & Gas Journal. All Rights Reserved.

BAD POLICY BAD FOR ENVIRONMENT

Jan 15, 1990 There are right ways to make environmental policy. There are wrong ways. And there are irresponsible ways. The right ways to make environmental policy are to recognize and properly assess problems and to apply scientifically valid solutions consistent with other priorities, such as economic growth and national security. The wrong ways are to employ this framework but to err in technicalities. Environmental policymaking lapses from error to irresponsibility when it leads with retribution or

AUSTRALIA'S OTWAY BASIN OFFERS ON AND OFFSHORE POTENTIAL

Jan 15, 1990 John C. McCaslin Exploration Editor Exploration in the Otway basin of southern Australia is at a moderately mature stage, according to S. Laing, C.N. Dee, and P.W. Best of the Claremont Group of Companies in Sydney.

DECISION RULES USING THE EMV CONCEPT AND ATTITUDE TOWARD RISK: AN IMPROVED APPROACH

Jan 15, 1990 John R. Schuyler Consultant Aurora, Colo. The simulation models described in the previous three papers illustrate ways to analyze transaction and strategy decisions. In all cases the stated objective has been to maximize the expected end net worth of the company.

INTERNATIONAL BRIEFS

Jan 15, 1990 SECOND STAGE of the 960 km Iraqi pipeline across Saudi Arabia (IPSA-2) started up last week, boosting Iraq's export capacity to 3.5 million b/d. IPSA-1, first stage of the $2.7 billion, 1.65 million b/d system, started up in September 1985 with throughput of 500,000 b/d. The system links Iraq's southern oil fields with the Yanbu export terminal on the Red Sea. SAUDI ARABIA gave Morocco $50 million toward cleanup of the oil spill from the damaged Iranian tanker Kharg 5 off

METHODOLOGY FOR SELECTING PDC BITS CUTS DRILLING COSTS

Jan 15, 1990 Charles Wampler Enron Oil & Gas Co. Corpus Christi, Tex. Kent Myhre Eastman Christensen Houston A bit-selection methodology proved effective for choosing polycrystalline-diamond-compact (PDC) drill bits in Zapata and Webb counties of South Texas. This program reduced drilling days per well up to 50% compared to wells drilled just 10 years ago. This decrease in drilling and tripping time has typically saved more than 30% of authority for expenditure (AFE) dry hole costs.

LASMO TO BUY HOME'S INTERNATIONAL ASSETS

Jan 15, 1990 Lasmo plc, London, plans to acquire Home Oil Co. Ltd.'s international assets from InterHome Energy Inc. of Canada for $23-30 million (Canadian). The interests, in 10 permit areas in six countries, cover proved and probable reserves of about 5 million bbl of oil and produce a net 1,100 b/d of oil. Lasmo, which operates in five of the six countries, believes 18 wildcat and appraisal wells will be drilled on the acreage during 1990-91.

NORSK HYDRO TESTS OIL ZONE IN TROLL GAS FIELD

Jan 15, 1990 Norsk Hydro has started a 12 month production test of extensive oil reserves underlying Troll gas field in the Norwegian North Sea. The company is using the Petrojarl test ship to produce a single horizontal well drilled into a 72 ft thick oil zone under the western lobe of the giant gas field. The well, in 1,085 ft of water, is producing about 12,000 b/d. If the year-long test is successful, Norsk Hydro could have a floating oil production system operational in West Troll by 1994, 2 years

U.S. BRIEFS

Jan 15, 1990 MONTEDISON USA INC. completed its acquisition of Himont Inc. for about $605 million and plans to complete a merger of Himont into Montedison as an indirect wholly owned subsidiary later this month. OXFORD ENERGY CO., Santa Rosa, Calif., let a $70 million contract to a unit of Zurn Industries Inc., Erie, Pa., for a 288 ton/day, 30,000 kw waste tire to energy plant to dispose of about 23,000 tires/day at Sterling, Conn. It will be the world's largest electrical power plant fueled solely by

ORYX'S HAUPTFUHRER: BIG INCREASE DUE IN U.S. HORIZONTAL DRILLING

Jan 15, 1990 Ten years from now 3050% of onshore wells drilled in the U.S. will be horizontal holes, predicts Oryx Energy Co. Chairman Robert Hauptfuhrer. Oryx has drilled about 15 horizontal wells in the U.S., which it says is more than any other company. All 12 horizontal holes it has completed in the Austin chalk of South Texas are still producing more than 1,000 b/d-in stark contrast to rapidly depleting vertical holes in the chalk.

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Refinery Units and Equipment for Sale (PA). Pictured: LSG: Gasoline Desulfurizer, 65,000 BPD.

Refinery Units and Equipment for Sale (PA)

Refinery Units and Equipment for Sale (PA). Pictured: LSG: Gasoline Desulfurizer, 65,000 BPD.

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