Georgia: Two well drilling program planned

By OGJ editors
HOUSTON, Jan. 10 – Red Emperor Resources NL signed a heads of agreement to acquire 10% interest each from Range Resources Ltd., Perth, and Strait Oil & Gas UK Ltd. in the Via and VIb onshore blocks in Georgia.

Subject to regulatory approvals by mid-February 2011 and other conditions, Red Emperor would contribute 40% of the drilling costs up to $5.6 million of a gross $14 million, for a planned two-well program. Range Resources and Strait Oil & Gas each retains 40% interest.

An initial analysis of 24 areas identified 11 structures suitable for oil in place estimates and key targets for future drilling. Two are deeper than 2,500 m and the rest are at 600-2,500 m. The blocks also have gas and coalbed methane potential.



Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now

Whitepapers

Logistics Risk Management in the Transformer Industry

Transformers often are shipped thousands of miles, involving multiple handoffs,and more than a do...

Secrets of Barco UniSee Mount Revealed

Last year Barco introduced UniSee, a revolutionary large-scale visualization platform designed to...

The Time is Right for Optimum Reliability: Capital-Intensive Industries and Asset Performance Management

Imagine a plant that is no longer at risk of a random shutdown. Imagine not worrying about losing...

Going Digital: The New Normal in Oil & Gas

In this whitepaper you will learn how Keystone Engineering, ONGC, and Saipem are using software t...