Unocal Announces Deepwater Gulf of Mexico Discovery

Wednesday, August 25, 1999
discovery on the Mad Dog prospect in the Gulf of Mexico deepwater Green Canyon block 826. The well encountered 300 net ft. of hydrocarbons, primarily crude oil. Spirit Energy holds a 25-percent interest in the 2.5-block drilling unit encompassing most of the Mad Dog structure. Based on the available data, the company believes its net resource potential for the Mad Dog drilling unit is likely in excess of 100 million boe and possibly as high as 200 million boe. Although further appraisal drilling is required to determine the extent of the discovery, Spirit Energy believes the gross resource potential within the drilling unit to be in excess of 400 million boe and as much as 800 million boe. If the upper range of this initial resource estimate is confirmed, Mad Dog could be one of the largest discoveries yet announced in the Gulf of Mexico. The Mad Dog drilling unit is located in 5,000 to 7,000 ft. of water in Green Canyon blocks 825, 826 and 782, about 150 miles southwest of Venice, La. The well spudded in May 1998 and was drilled to a total depth of 22,410 ft. The pay zones were sampled, but not tested. BP Amoco is the operator of the Mad Dog well, with a 64-percent working interest; BHP holds the remaining 11-percent interest. Spirit Energy is scheduled to begin a five-well deepwater drilling program as operator this month. The drilling program currently includes plans to drill wells in the South Sierra (Garden Banks 551), Nag (Mississippi Canyon 541), Bow Shock (Garden Banks 460) and Sumatra (Garden Banks 941) prospects.

Legal

Philippines: Sea Dispute Won't Shift Ties with China, U.S.

The Philippines' territorial dispute with China over the South China Sea has not caused Manila to rebalance diplomatic ties with either its ally, the United States,

Hanjin Shipping to Submit Self-Rescue Plan

South Korea’s Hanjin Shipping is planning on submitting a self-rescue plan to creditors this week to stave off bankruptcy by Aug. 25, reports Korea Herald quoting local media.

US Coast Guard Announces Final TWIC Rule

The U.S. Coast Guard announced Tuesday the publication of the final rule concerning Transportation Worker Identification Credential (TWIC) reader requirements. The

Offshore

Canada May Ask Far-offshore Drillers to Pay Extra

Canada may ask oil companies to contribute to the hundreds of millions of dollars or more the country has to pay to an international body if they drill far offshore,

MISC Enters Thai Offshore O&G Market

Energy related maritime solutions and services provider MISC Berhad (MISC) has made inroads into Thailand’s offshore oil and gas market for the first time.

Cathelco MGPS for Latest Lamprell-built Jack-up

Cathelco will provide a marine growth prevention system (MGPS) for the latest in a series of jack-up drilling rigs to be built by Lamprell, the UAE based  leading provider of fabrication,

 
 
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