Spirit Energy 76 Discovers New Gas Field

Thursday, January 27, 2000
Unocal Corporation's Spirit Energy 76 unit said a wildcat exploration well in 240 ft. of water on its 100-percent owned Ship Shoal block 295 offshore Louisiana has discovered a significant new natural gas field with an ultimate discovery volume of as much as 130 billion cubic feet (bcf). Spirit Energy also said its net production reached 175,000 boepd at the end of 1999. The company expects continued production strength into 2000 due to increased development activities and exploration success resulting from higher capital spending in the last six months of 1999. "A discovery of this size in shallow water that can be brought on production quickly at high rates has extremely attractive economics," said Timothy H. Ling, Unocal CFO and executive vice-president, North American Energy Operations. "Successes like the Muni well are critical to helping Unocal meet its return on capital goals for the company's mature areas."
Maritime Reporter March 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Offshore

Shell Commited To Russia Expansion Despite Sanctions

Royal Dutch Shell is committed to expansion in Russia, Chief Executive Ben van Beurden told Russian President Vladimir Putin at a meeting on Friday amid sanctions

Russia Ships First Oil From Offshore Arctic Platform

President Vladimir Putin hailed Russia's first shipment of Arctic offshore oil on Friday, saying the platform decried by environmentalists will help Moscow expand its global energy markets share.

When Will Deep Sea Mining Commence? The Robot is Ready

The world's first deep sea mining robot sits idle on a British factory floor, waiting to claw up high grade copper and gold from the seabed off Papua New Guinea

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Standards Navigation Pipelines Pod Propulsion Salvage Ship Simulators Shipbuilding / Vessel Construction Sonar
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.2140 sec (5 req/sec)