Drilling/Production news briefs, Aug. 25

BP � Parker Drilling � Young Oil � Aspen Group

BP has awarded a 1-year, four-rig drilling contract to Parker Drilling Co., Tulsa, to work in the Casanare area in Colombia. With the execution of the BP contract, Parker now has a total of six rigs under contract in Colombia.

Young Oil Corp., Knob Lick, Ky., reported its Ralph Dishman No. 2 well in Overton County, Tenn., began flowing oil at 1,225 feet after the well was deepened from 1,150 feet to 1,350 feet. Located in 24-1s-51e in Overton County, 5 miles north of Livingston, Tenn., the well was initially drilled to a total depth of 1,150 ft. The well appeared to be producing from a collapsed zone at 915-1,030 feet. It produced at a rate of 200 b/d for several months, then dropped to 7 b/d. Young Oil plans to have the well back on full production within the next week.

Aspen Group, Oklahoma City, said that during the first six months of 2000, it participated in the drilling and recompletion of 17 wells. All of the wells were completed as gas wells. Aspen's working interest in these wells ranged from between 1% to 13%. An additional 22 wells have been approved for drilling during the second half of the year, resulting in Aspen exceeding its drilling forecast by approximately 25%. The company decided to increase drilling because improved cash flow due to high commodity prices.

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