Exploration/Development news briefs, Mar. 26

USCapital Energy Belize � BP � ABB Vetco Gray � Santos � Swift Energy New Zealand � Antrim Oil & Gas � Marabella Enterprises � Remington Oil & Gas � Magnum Hunter Resources

Texas-based USCapital Energy Belize Ltd. said it has signed an agreement to explore the 900,000-acre Block 19 in southern Belize. Belize has no oil and gas production.

BP PLC has selected ABB Vetco Gray, an affiliate of ABB Group, to supply well systems for drilling and production operations to its spar-tension leg platform program in the deepwater Gulf of Mexico. The 5-year agreement includes options for 5 more years. The first phase is worth $250 million. It calls for subsea well head equipment and tieback connectors, drilling and production risers, tensioners, and surface wellheads and trees.

Santos Ltd. has a gas discovery in the western district of Australia's Victoria state, 15 km northwest of Port Campbell. Tregony-1 well was drilled to TD of 1,817 m and penetrated a 55-m gross hydrocarbon column in the Late Cretaceous Waarre sandstone. Wireline logs indicate 42 m of net gas pay over the interval 1,652-1,708 m. Tregony field is on petroleum exploration permit 153, in which Santos holds 100%. The well is expected to come on production at 10-15 MMcfd of gas at midyear.

Swift Energy New Zealand Ltd. said Rimu B-1 well tested the Upper Rimu limestone. It was perforated and acidized prior to flowing at a stabilized test rate of 505 b/d of 46�-gravity oil and 2.8 MMcfd of gas with a flowing tubing pressure of 2,324 psia on a 16/64-in. choke. Swift operates with 90%; Antrim Oil & Gas Ltd. and Marabella Enterprises Ltd. each hold 5%.

Remington Oil & Gas Corp., Dallas, Tex., said an exploratory well on South Marsh Island Block 35 has reached 14,630 ft TD. It found 35 net ft of oil and gas in the primary objective Rob E sand. It is being completed for production, expected to begin in the third quarter. Remington has 62.5% of the discovery and Magnum Hunter Resources Inc. has the rest.

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