México

Guyana

Trinidad
& Tobago




Very usefull links



PW
Bookstore





News links

AP

AFP

Aljazeera

Dow Jones

Oil price

Reuters

Bloomberg

Views and News
from
Norway

 

 

 

Premier Oil's offshore Mexico well shows more potential for oil

 


 

By Reuters

BENGALURU
Petroleumworld 01 25 2019

Premier Oil's second appraisal well in the Zama project offshore Mexico showed more potential for oil, raising hopes of a huge discovery.

Shares of Premier, which holds a 25 percent interest in the block alongside Talos Energy Inc and Sierra Oil and Gas, rose more than 4 percent in morning trading.

The company said net-to-gross ratio, which represents the volume of rock that is able to store hydrocarbons, came in at 73 percent, higher than pre-drill estimates and topped its first appraisal well's 63 percent ratio.

“This is an excellent start to the Block 7 Zama appraisal programme in Mexico. It enhances our interpretation of the large Zama discovery and increases our confidence in our resource estimates,” Chief Executive Tony Durrant said.

Premier said the reservoir quality was similar to that at Zama-1 and in line with expectations.

BMO Capital Markets analyst David Round said the result was positive and that he expects this to “improve confidence around higher Zama volumes estimates.”

However, the company said it did not hit oil in a deeper exploration prospect called Marte.

Premier said it will now drill a secondary wellbore away from the original hole of the Zama-2 appraisal well, which was deepened to evaluate the high-risk Marte exploration prospect.

Talos Energy said on Wednesday that the initial phase of the appraisal program was completed about 28 days ahead of schedule and 25 percent below initially projected costs.

 


________________________


We invite you to join us as a sponsor.

Circulated Videos, Articles, Opinions and Reports which carry your name and brand are used to target Entrepreneurs through our site, promoting your organization’s services. The opportunity is to insert in our stories pages short attention-grabbing videos, or to publish your own feature stories.

________________________

 

Reporting by Arathy S Nair in Bengaluru; Editing by Saumyadeb Chakrabarty and Anil D'Silva from Reuters

reuters.com /01 24 2019

Hit your target - Advertise with us

PW 300.000 plus request per week

Copyright© 1999-2019 Petroleumworld or respective author or news agency. All rights reserved.

We welcome the use of Petroleumworld™ (PW) stories by anyone provided it mentions Petroleumworld.com as the source.

Other stories you have to get authorization by its authors. Internet web links to http://www.petroleumworld.com are appreciated.

Petroleumworld welcomes your feedback and comments, share your thoughts on this article, your feedback is important to us!

We invite all our readers to share with us
their views and comments about this article.

Write to editor@petroleumworld.com

By using this link, you agree to allow PW
to publish your comments on our letters page.

Any question or suggestions,
please write to: editor@petroleumworld.com

Best Viewed with IE 5.01+ Windows NT 4.0, '95,
'98,ME,XP, Vista, Windows 7,8,10 +/ 800x600 pixels

Twitter: @petroleumworld1


 

TOP

Contact: editor@petroleumworld.com,

Editor & Publisher: Elio Ohep/
Contact Email: editor@petroleumworld.com

CopyRight © 1999-2019, Paul Ohep F. - All Rights Reserved. Legal Information

PW in Top 100 Energy Sites

CopyRight©1999-2019, Petroleumworld ™  / Elio Ohep - All rights reservedThis site is a public free site and it contains copyrighted material the use of which has not always been specifically authorized by the copyright owner.We are making such material available in our efforts to advance understanding of business, environmental, political, human rights, economic, democracy, scientific, and social justice issues, etc. We believe this constitutes a 'fair use' of any such copyrighted material as provided for in section 107 of the US Copyright Law. In accordance with Title 17 U.S.C. Section 107, the material on this site is distributed without profit to those who have chosen to view the included information for research, information, and educational purposes. For more information go to: http://www.law.cornell.edu/uscode/17/107.shtml. If you wish to use copyrighted material from this site for purposes of your own that go beyond 'fair use', you must obtain permission fromPetroleumworld or the copyright owner of the material.