Ascent Resources begins gas production in Hungary

Ascent Resources PLC, London, has begun natural gas production from its PEN-104 well in the Peneszlek area of the Nyirseg permits in eastern Hungary.

Uchenna Izundu
International Editor

LONDON, Aug. 13 -- Ascent Resources PLC, London, has begun natural gas production from its PEN-104 well in the Peneszlek area of the Nyirseg permits in eastern Hungary.

Initial production of 48,000 cu m/day will be increased over the following few days to a target of 85,000 cu m/day. Current wellhead pressure is 92 bar.

PetroHungaria KFT originally drilled the PEN-104 discovery well in 2006. Gas production, following metering at the newly constructed PEN-104 facility, is transported by pipeline to the MOL gas processing facility at Hajduszoboszlo, 50-km from the well, Ascent said.

The company will shoot 3D seismic over the permits to delineate other gas reservoirs within the vicinity. Two wells in the survey area previously tested gas but have not been put into production.

Ascent also is investigating whether it should redevelop Peneszlek field, which produced gas during 1983-91.

The company has a 45.23% stake in Peneszlek through its equity interest in PetroHungaria KFT. Other partners are DualEx 37.5%, Geomega 8%, Leni Gas & Oil 7.27%, and Swede Resources 2%.

Ascent managing director Jeremy Eng said the gas would help to meet demand "on the domestic market where over 70% of gas consumed is imported."

Ascent Resources has sold a 15% stake in the Szolnok gas exploration project to existing partner Rohol-Aufsuchungs Aktiengesellschaft, which now holds 59.5% interest from purchases of interests from other partners. Following the sale Ascent's interest in the Szolnok project has dropped to 12.5% from 27.5%.

The partners will drill two exploration wells in the Kunstmarten 3D seismic acquisition area, and they will shoot additional 3D seismic nearby.

Contact Uchenna Izundu at uchennai@pennwell.com.

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