Tambora Wildcat Sings for OGX Offshore Brazil

- Tambora Wildcat Sings for OGX Offshore Brazil

Monday, July 25, 2011
OGX S.A.

OGX has identified the presence of hydrocarbons in the Santonian and Albian sections of well 1-OGX-52-RJS in the BM-C-41 block, in the shallow waters of the Campos Basin. OGX holds a 100% working interest in this block.

''This new discovery nearby the Waimea accumulation successfully tested Albian calcarenites in a deeper position, completely independent of the prior discovery. Also, it is important to note the discovery of oil in sandstone reservoirs of the Santonian age. These discoveries confirm, as we have mentioned, significant potential remaining resources in this important oil province in the southern portion of the Campos Basin,'' said Paulo Mendonça, General Executive Officer and Exploration Officer of OGX.

A hydrocarbon column of approximately 12 meters was encountered in the sandstone reservoirs of the Santonian section with about 5 meters of net pay. In addition, a hydrocarbon column of approximately 174 meters was encountered in carbonates of the Albian section with around 96 meters of net pay.

The OGX-52 well, known as Tambora, is located in the BM-C-41 block and is situated approximately 93 kilometers off the coast of the state of Rio de Janeiro at a water depth of approximately 130 meters. The Ocean Ambassador rig initiated drilling activities on July 04, 2011.

Oil & Gas Post

Promote Your Page Too
LINK

Centrica Increases Canadian Gas Assets with Wildcat Hills Acquisition

Centrica Increases Canadian Gas Assets with Wildcat Hills Acquisition

Friday, April 01, 2011
Centrica plc

Centrica announced that its North American subsidiary, Direct Energy, has acquired further natural gas assets located in the Wildcat Hills region of Alberta, from Shell Canada Energy for C$47m (£30m) in cash. The acquisition will give Direct Energy a 100% working interest in certain Wildcat Hills assets and gas processing facilities, which it has operated since October 2010.

It will provide Direct Energy with an additional 45 billion cubic feet equivalent (bcfe) of proven and probable natural gas reserves and an incremental 10 million cubic feet per day (mmcfe) of natural gas production. Following the transaction the company will be able to meet approximately 35% of its enlarged customer gas demand from its own resources and the transaction will lower overall production costs as no additional field or office staffing will be required.

The acquisition marks the latest stage in Direct Energy's strategy of creating a more integrated North American business, with leading positions in deregulated markets. In 2010, as well as acquiring an operated interest in the Wildcat Hills assets, the company established itself as a leading player in the North American home services market with the acquisition of Clockwork Home Services. In March 2011, Direct Energy agreed to buy the New York-based gas and power retailer Gateway Energy Services, adding another 275,000 customer accounts in the US Northeast.

Chris Weston, President and CEO of Direct Energy said, "We are very pleased to have acquired an enlarged interest in the Wildcat Hills region. Growing our upstream business is important in ensuring that we remain a stable, long-term partner to the millions of residential and business customers we serve across North America. We will continue to explore opportunities in both gas and power, to enhance the scale of the business and to support Direct Energy's expanding retail businesses."