Exploration/Development briefs, May 14
Ridgeway Petroleum ... CIG Resources ... PanAfrican Energy ... African Infrastructure Fund ... Production Specialties ... Questar Exploration & Production ... Sterling Resources ... Paladin Expro ... Petrom
Ridgeway Petroleum Corp., Calgary, and CIG Resources Corp., an El Paso Corp. subsidiary, have agreed to jointly explore for and evaluate the California market for carbon dioxide to be used in enhanced oil recovery opportunities and the helium market. The agreement includes Ridgeway developing CIG holdings in eastern Arizona and western New Mexico, if the companies make a final agreement.
PanAfrican Energy Corp., St. Helier, Jersey, UK, has closed a joint venture financing agreement with the African Infrastructure Fund, providing another $30.6 million for PanAfrican's projects in sub-Saharan Africa. The company also said it has completed Obangue 5-H well in Gabon and will soon test the well. Intermediate casing has been set on Obangue 6-H with the drilling of the horizontal leg to commence imminently. Off Gabon, a rig to drill the Etame Marin concession is being moved into position.
Production Specialties Co., Woodland, Calif., is completing wildcat Pale Rider No. 3-26 in the Travis project area in Solano County, Calif., said Questar Exploration & Production Co., a unit of Questar Corp., Salt Lake City, Utah. The well, in 26-5n-R1e, flowed 5 MMcfd from a 15-ft perforated interval at 5,400 psi flowing tubing pressure in a 2-hr test. The next day, on a longer flow test, the well flowed 4.5 MMcfd of gas with flowing tubing pressure of 5,500 psi on a 12/64-in. choke. Questar owns 40%.
Sterling Resources Ltd., Calgary, said drilling of the UK West Compton well has been delayed by the foot and mouth epidemic, which has restricted land access and disrupted the timing of the District Council planning meetings. The District Council is expected to meet in early July, following which well site preparation and final rig selection could begin. Off Romania, Sterling and Paladin Expro Ltd., partners in Block XV in the Black Sea, have awarded Petrom a contract to use its jack up Jupiter to drill an appraisal well in July. The well is a follow up to the Doina discovery.