Tracy W. Krohn, W&T chairman and chief executive officer.
“We believe that current conditions are good for W&T to identify quality offshore producing assets that offer upside exploration and development opportunity.”
Total to sell retail network in Turkey
Total SA has agreed to sell its service-station network and commercial sales, supply, and logistics properties in Turkey to Turkish conglomerate Demiroren Holding for about $356 million.
The French company will retain its lubricant and odorless
LPG operations in Turkey.
EXPLORATION & DEVELOPMENT QUICK TAKES
GeoPark follows Chachalaca success with Jacana
GeoPark Ltd.’s Jacana 1 exploration well flowed 1,880 b/d of
14. 9° gravity oil with a water cut of 1.9%, the company said.
This discovery follows the company’s previously success with
the Chachalaca 1 (OGJ Online, Aug. 28, 2015).
Jacana field lies southwest of large Tigana oil field on Llanos 34 Block offshore Colombia. Jacana 1 was drilled to a
total depth of 10,900 ft. The zone of interest is at 10,200
ft, which includes the Guadalupe and Mirador formations.
According to GeoPark, Jacana field follows the same fault
trend as Tigana, and appears to be combination structural-stratigraphic trap.
The company expects to gather further production history
to determine stabilized flow rates and the extent of Jacana field.
As previously reported, GeoPark continues drilling operation
on appraisal well Tilo 2. It plans drill a second Jacana appraisal
well following completion of Jacana 1. GeoPark holds a 45%
interest in Llanos 34 Block.
Tap Oil signs PSC for block offshore Myanmar
Tap Oil Ltd. reported its entry into Myanmar following the signing of the production-sharing contract for shallow-water Block
M- 7 in the Moattama basin offshore Myanmar. Tap holds 95%
participating interest in the block and has assumed operatorship.
Tap Energy (M7) Pte. Ltd. and its local joint venture participant Smart E&P International Co. Ltd. signed the PSC with
Myanmar Oil & Gas Enterprise (MOGE) on Aug. 26.
Under the PSC, the JV partners have agreed to undertake
an 18-month environmental and social impact assessment and
study period followed by an option to proceed to a 3-year commitment exploration work program.
Tap anticipates that it will spend $2.75 million on the block
up to and including the study period, which has a minimum
expenditure requirement of $2 million. The 13,372-sq km
Block M- 7 lies 160 km east of the 6.5-tcf Yadana gas field, and
70-km north east of the 1.5-tcf Zawtika gas field.
Buru finds more oil onshore Canning basin
Buru Energy Ltd., Perth, has intersected a gross 23-m column
of oil at the top of the Ungani Dolomite formation with its
Praslin- 1 wildcat drilled in permit EP 391 in the onshore Can-
ning basin of Western Australia.
Well logs indicate the oil-bearing interval is similar to that
of the productive zone at the nearby Ungani oil field. However
reservoir characteristics still have to be confirmed with a pro-
duction test program at a later date.
Praslin- 1 is about 90 km east of Broome and 15 km west of
Buru’s producing Ungani field.
The well will be plugged back to the base of the interpreted
oil column and a completion string run into the hole. The rig
will next move further east to the Victory- 1 well, which is also
on the Ungani trend. This will be followed by Senagi prospect
later in the year.
Operator Buru and Mitsubishi Corp. each have a 50% interest in EP 391.
USGS estimates Cherokee Platform Province reserves
The Cherokee Platform Province in Kansas, Oklahoma, and
Missouri contains estimated recoverable reserves totaling 463
million bbl of crude oil, 11. 2 tcf of natural gas, and 35 million
bbl of natural gas liquids, the US Geological Survey said in a
Sept. 1 report.
USGS said the assessment was part of its National and Global Petroleum Assessment Project.
DRILLING & PRODUCTION QUICK TAKES
Surmont 2 oil sands production launches from Alberta
Operator ConocoPhillips and 50-50 partner Total SA have
started production from their Surmont 2 in-situ oil sands facility situated 63 km southeast of Fort McMurray in the Athabasca
region of Alberta.
ConocoPhillips describes the Surmont 2 facility, construc-
tion of which began in 2010 (OGJ Online, Jan. 19, 2010), as “the
largest single-phase steam-assisted gravity drainage (SAGD)
project ever undertaken.”
Since first steam in May (OGJ Online, June 1, 2015), the
reservoir has successfully been heated to a point where the well
pairs can be converted to a SAGD configuration, allowing the
ConocoPhillips and Total SA have started production from
Surmont 2 in the Athabasca region of Alberta. Photo from