Gulf Oil and Gas accountACCOUNT

Reabold Resources Announces Oil Discovery at Monroe Swell

Source: www.gulfoilandgas.com 3/11/2019, Location: North America

Reabold has announced that Integrity Management Solutions ("IMS"), contract operator of the Monroe Swell field in which Reabold will earn a 50% interest, has informed the company of a successful drilling result and oil discovery at the Burnett 2A well in California.

The well was safely drilled and within budget, despite severe weather conditions, to a total depth of 922 metres, encountering the targeted Burnett and Lower Burnett sands. Significant oil and gas shows were seen within these formations and Halliburton wireline logging has confirmed the presence of pay estimated in excess of 60 metres, ahead of pre-drill expectations.

Reabold and IMS now plan to test the well.

Reabold has an agreement with Sunset Exploration to pay the full drilling and completion costs of two wells within its Monroe Swell license areas in order to earn a 50% net working interest in these licenses. Additional activity beyond the initial two wells will be funded by Reabold on a 50% working interest basis.

Stephen Williams, Co-CEO of Reabold, commented:
"Success with the Burnett 2A well is highly encouraging. With low drilling and completion costs, short drilling times and substantial running room, Monroe Swell can deliver substantial production growth coupled with highly attractive returns."
Sachin Oza, Co-CEO of Reabold, commented:
"Following our success at West Brentwood, we are delighted to have made a significant discovery at Monroe Swell, which we have always considered the core asset within the US portfolio. Monroe Swell Is expected to be a multi-well project which can unlock significant NPV potential."

Exploration News in United States >>

Egypt >>  1/28/2020 - Egypt has signed two deals with Exxon Mobil for oil and gas exploration in the Mediterranean, the petroleum ministry said. ...
United Arab Emirates >>  1/27/2020 - Eni announces a gas and condensate discovery in the Mahani exploration prospect located onshore in the Area B Concession of Sharjah (UAE), which was a...

South Africa >>  1/20/2020 - Africa Energy Corp., an oil and gas company with exploration assets offshore South Africa and Namibia, is pleased to provide an operational update on ...
Angola >>  1/16/2020 - Eni and Total were among the successful bidders for rights to develop three offshore blocks in Angola out of 10 auctioned late last year. Eni and Tota...

Lebanon >>  1/16/2020 - Lebanonís Ministry of Energy and Water and the Lebanese Petroleum Administration have announced an extension of the application deadline. Companies in...
Norway >>  1/16/2020 - PGS has GeoStreamer data library coverage over the 2019 APA license areas announced this week by NPD and plans for new acquisition projects in 2020 to...

Related Categories: Camp Building  Cleaning Equipment, Services  Communication  Corrosion Products/Services  Development  Exploration  Food Supplies  General  Labor Services  Land & Leasing  Mine Clearance  Oil & Gas Companies  Production  Service Companies  Skilled Labors  Transportation, 4X4 Trucks  Unskilled Labors  Utility Systems  Waste Disposal  Water Supply Services  Welding Products/Services 

Related Articles: Camp Building  Cleaning Equipment, Services  Communication  Corrosion Products/Services  Development  Exploration  General  Labor Services  Land & Leasing  Mine Clearance  Oil & Gas Companies  Production  Service Companies  Skilled Labors  Transportation, 4X4 Trucks  Utility Systems  Water Supply Services  Welding Products/Services 


United States Oil & Gas 1 >>  2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11 | 12 | 13 | 14 | 15 | 16 | 17 | 18 | 19 | 20 | 21 | 22 | 23 | 24 | 25 | 26 | 27 | 28 | 29 | 30 | 31 | 32 | 33 | 34 | 35 | 36 | 37 | 38 | 39 | 40 | 41 | 42 | 43 | 44 | 45 | 46 | 47 | 48 | 49 | 50 | 51 | 52 | 53 | 54 | 55 | 56 | 57 | 58 | 59 | 60 | 61 | 62 | 63 | 64 | 65 | 66 | 67 | 68 | 69 | 70 | 71 | 72 | 73 | 74 |

More News

Related Links

Gulf Oil and Gas
Copyright © 2020 Universal Solutions All rights reserved. - Terms of Service - Privacy Policy.