Premier Oil Announces Drilling Update in Philippines

Source: www.gulfoilandgas.com 7/8/2008, Location: Asia

The Monte Cristo-1 wildcat exploration well in the SC43 licence has completed drilling. The well encountered the Lower Canguinsa reef objective as planned at a measured depth of 1628 meters. The reef was found to have good reservoir properties but no hydrocarbons were found. Monte Cristo-1 will be plugged and abandoned. Premier’s costs for the well were fully carried under a 2007 farm-out agreement.

Premier holds a 21% participating interest in the SC43 licence. Operator PEARL Oil (Ragay) Ltd. has a 64% interest and PNOC-EC has a 15% participating interest.


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Related Categories: Artificial Lift  Cementing, Stimulation  Directional Drilling  Drilling  Drilling Engineering & Equipment Systems  Enhanced Oil Recovery  General  Logging, Perforating, Testing  Offshore Drilling  Reservoir/Completion Consultants  Workover & Well Services  Workover Rigs/Services 

Related Articles: Artificial Lift  Cementing, Stimulation  Directional Drilling  Drilling  Drilling Engineering & Equipment Systems  Enhanced Oil Recovery  General  Logging, Perforating, Testing  Offshore Drilling  Reservoir/Completion Consultants  Workover & Well Services  Workover Rigs/Services 


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