Mexico's Pemex Finds Light Crude in Shallow Gulf Waters

- Mexico's Pemex Finds Light Crude in Shallow Gulf Waters

Monday, August 22, 2011
Dow Jones Newswires
MEXICO CITY
by Laurence Iliff

Mexico's state-owned oil company Petroleos Mexicanos, or Pemex, said Monday that it successfully carried out production tests at new oil field in the southern Gulf of Mexico.

Pemex said the Kinbe-1 well reached an initial average production of 5,600 barrels of light crude per day. The well took more than a year to drill, and was finished Aug. 9. Kinbe-1 also has reached natural gas production of 9 million cubic feet per day on average, the oil monopoly said.

Pemex said "this new discovery increases the petroleum potential of the zone comprised by the fields Tsimin, Xux and Kab" as part of the company's light-crude marine project. Kinbe-1 was drilled in 22 meters of water.

After six years of steady declines in crude-oil production, Pemex is trying to ramp up output in order to break the slide, but has struggled due to declines at the Cantarell offshore fields that once accounted for more than half of the company's total production. Cantarell's decline has brought Pemex's overall production down to just under 2.6 million barrels a day currently from nearly 3.4 million barrels a day in 2004.

Copyright (c) 2011 Dow Jones & Company, Inc.

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Breitling Spuds 1st Shallow Gas Field in Ok.

Breitling Spuds 1st Shallow Gas Field in Ok.

Thursday, April 07, 2011

Breitling O&G Corp.

Breitling has spud the Breitling-Yardeka #1 in McIntosh County, Oklahoma on the northern edge of the Arkoma Basin. The Yardeka #1 is the first well to be drilled in Breitling's newly developed gas field in the Basin. There are two major objectives within the prospect, the Jefferson Sand at 3450' and the Upper Gilcrease Sand at 2300'. Secondary objectives include the Spiro Sand at 2800', The Booch Sand at 1600' and the Bartlesville Sand at 1150'.

The initial test well will be a 3500' Jefferson Sand test. The Jefferson Sand is an excellent reservoir which is found productive on localized structural closures. Subsurface mapping on the Wapanucka Limestone indicates a possible northwest to southeast trending structural ridge over the Breitling-Yardeka prospect. Within this structural ridge there are several structural closures, three of which have produced from the Jefferson.

Management anticipates the well will reach total depth in about 4 days. Well completion and testing on the Breitling-Yardeka #1 well should begin during the third week of April 2011.
Breitling Oil and Gas CEO Chris Faulkner stated, "We have good well control in the area and these shallow sands are productive on all sides of us." Faulkner added, "The field directly to our Southeast has produced over 6 BCF of gas."

SeaBird Awarded 2D, 3D Shallow Water Contracts

SeaBird Awarded 2D, 3D Shallow Water Contracts

Wednesday, April 06, 2011

SeaBird Exploration plc

SeaBird updated on the following new contracts awarded in the 2D and 3D shallow water.
Hawk Explorer has been awarded a short survey in direct continuation from the current employment in West Africa where the vessel will be employed until end May/ early June 2011.

Northern Explorer is currently carrying out a survey in East Africa with expected completion mid May 2011, and has now been awarded a further contract in South Africa where she will be employed until mid to end July 2011.

Geo Mariner is mobilizing to South East Asia with arrival mid April, and has been awarded a 2D contract for one month survey with client option to extend for a further month together with an option for a further 3D survey. This will keep the vessel busy to mid June, and with the option to end of July.

These contracts have a combined value of approximately US $7-9 million and represent approximately 6 vessel-months utilization including mobilization time and including the option on Geo Mariner.

With these awards and the general improvement in the tender activity SeaBird believes that the 2D activity will increase going forward resulting in a much improved utilization for its 2D fleet compared to 2nd half of 2010. Rate levels are however still low but on profitable EBITDA levels.

Lexaria: 4 Wells Producing at Belmont Lake Field

Lexaria: 4 Wells Producing at Belmont Lake Field

Thursday, March 31, 2011

Lexaria Corp.

Lexaria announced that for the first time, there are now up to four producing oil wells at the Belmont Lake oil field, and a salt-water disposal well that is connected and operational. The necessary work was completed despite challenging field conditions prior to the seasonal rise in Mississippi River water levels. Some residual infrastructure work will be completed during the next dry season.

The Belmont Lake oil field has now produced over 100,000 barrels of oil.

Lexaria has drilled both oil and gas wells in the region since 2005, concentrating on shallow geologic horizons that are less expensive to exploit than deeper targets. There are a number of geologic target zones from the shallowest all the way to the Tuscaloosa Marine Shale. A 1996 Louisiana State University study estimates that 7 Billion recoverable barrels of oil may exist in this oil shale that in some regions is 400-800 feet thick.

Lexaria holds an option to drill up to 38 exploration wells on roughly 130,000 acres of land in the region, in which it holds a 60% interest. Shallow fields are of primary interest to the Company, in part, because of the history of this region. Some of the shallow oil fields in the area produced by others include:

• 593,000 barrels produced at Ashwood Field
• 730,000 barrels produced at Stamps Field
• 55,000,000 barrels produced at Little Creek Field
• 1,412,000 barrels produced at Freedom field

Lexaria currently holds a 40% gross working interest in the PP-F12-4 and PP-F12-5 directional wells, and a 32% interest in the PP-F12 and PP-F12-3 wells. It holds a minimum 32% interest with the potential for higher interests, in any additional development wells to be drilled at Belmont Lake.

Aztec Encounters Formations at Tx. Well

Aztec Encounters Formations at Tx. Well

Thursday, March 31, 2011

Aztec O&G Inc.

Aztec announced the Welder A-37 was drilled to a total depth of 6,208 feet and encountered multiple formations.

"Utilizing sidewall cores to further evaluate the well's electric log, there appear to be four to five zones of commercial interest in the probable to possible categories," stated Waylan Johnson, President of Aztec Oil & Gas, Inc. Furthermore, he stated, "The A-37 is our second successful well in the area, and we are working on several more ideas in San Patricio County. This county is typical of the type of area in Texas where we are afforded the opportunity to find sizeable reserves shallower than 6,500 feet."

Several Texas Independent Producers have joined Aztec as Partners in the San Patricio County area drilling as Aztec continues its dedication to drilling low-risk, shallow oil wells in Texas.