InterOil to continue oil exploration drilling at Wahoo

Source:InterOil Corporation

InterOil Corporation (NYSE: IOC; POMSoX: IOC) has resumed drilling at Wahoo with the Wahoo-1 side-track exploration well in Petroleum Prospecting License 474 in the Gulf Province of Papua New Guinea .

Wahoo-1 side-track well is the follow-up to Wahoo-1 which was suspended in July 2014 due to higher-than-expected pressures.

The Wahoo-1 side-track is a significant step-out from existing gas fields and will test whether the successful trends identified around PRL15 extend 170km to the south-east of Elk Antelope.

InterOil holds a 78.1114% interest in the well and is operator. The remaining 21.8886% interest is held by minority interests. InterOil will keep the market informed of material developments.
 

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

Maximizing Operational Excellence

In a recent survey conducted by PennEnergy Research, 70% of surveyed energy industry professional...

Leveraging the Power of Information in the Energy Industry

Information Governance is about more than compliance. It’s about using your information to drive ...

Reduce Engineering Project Complexity

Engineering document management presents unique and complex challenges. A solution based in Enter...

Revolutionizing Asset Management in the Electric Power Industry

With the arrival of the Industrial Internet of Things, data is growing and becoming more accessib...

Latest PennEnergy Jobs

PennEnergy Oil & Gas Jobs