Duma Looks Deep Down for Energy

Press Release
Thursday, May 23, 2013

US's Duma Energy Corp. says it has received new 3D seismic data in its search for deeper oil reserves in its Galveston Bay producing fields.

This new data, which covers three of Duma's fields in Galveston Bay, is part of a broader effort by several other large independent oil companies to identify and exploit the deeper potential believed to exist under the bay and surrounding areas. Duma is looking to exploit these deeper zones on its more than 18,000 acres in the bay. This new 3D seismic data will be an integral part of this effort and the Company is already working to have the newly received data analyzed and interpreted by its team.

Duma has not, to date, publicly assigned any value to the potential reserves in these deeper horizons, nor do the Company's past engineering reports contemplate any exploration in these deeper intervals. However, with the recent leasing of acreage and seismic acquisition by these other companies, Duma is now focused on identifying these potentially high-pressure, high-volume pay zones.

"We have always believed the deep potential was there but decided to focus our efforts on the remaining 'low-hanging fruit' in the prolific Frio intervals at shallower depths," stated Jeremy G. Driver, CEO of Duma Energy Corp. He further commented, "Now that other oil companies have shown a serious and growing interest in the deeper zones and have invested tens of millions of dollars so far, we are further convinced of the potential and the value of our assets."

Duma Energy Corp. actively produces oil and gas in the continental United States, both on and offshore. Duma also has a significant interest in a 5.3 million-acre concession in the Republic of Namibia in southern Africa.
 

Maritime Reporter May 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Technology

ARENA Funding Helps CSIRO set-up New Solar Lab.

CSIRO is set to increase confidence in large scale solar by more accurately predicting how different solar photovoltaic (PV) systems will perform on Australian shores.

First Damen Twin Axe for Offshore O&G

To develop its large fleet, Groen Offshore, Guard & Support has selected the first Damen Twin Axe Fast Crew Supplier 2610 to be customised with Offshore Oil & Gas standby capabilities.

BMT Isis to Support NATO Submarine Rescue System

BMT Isis (BMT), a subsidiary of BMT Group Ltd, has announced that it will provide safety and environmental support for JFD’s five-year contract with the UK Ministry

Offshore Energy

First Damen Twin Axe for Offshore O&G

To develop its large fleet, Groen Offshore, Guard & Support has selected the first Damen Twin Axe Fast Crew Supplier 2610 to be customised with Offshore Oil & Gas standby capabilities.

Hoegh LNG Bags FSRU Deal in Chile

Oslo-based Höegh LNG said it has signed an Floating Storage and Regasification Unit (FSRU)contract with Chilean Octopus LNG for the Penco-Lirquén LNG import terminal to be located in Concepción Bay,

Former Petrobras Exec Sentenced to 5 Years Jail

A Brazilian judge sentenced a former international director at state-run oil firm Petroleo Brasileiro SA to five years in prison for money laundering on Tuesday,

Seismic Vessel Tech

Shanghai Shipyard Won Bid for Two Survey Vessels

Shanghai Shipyard has won bids to build two multipurpose survey vessels for two geological survey institutes. The shipyard is an affiliate of China State Shipbuilding Corporation (CSSC).

 
 
Maritime Security Naval Architecture Navigation Pod Propulsion Salvage Ship Electronics Ship Repair 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: 0.1302 sec (8 req/sec)