Zeta Sees Improved Geology at Romanian Gas Field
Romania-focused Zeta Petroleum announced Thursday that the geological model of its onshore Bobocu gas field project has substantially improved following the inclusion of new data.
Zeta said that the new data, including well log and pressure evaluation work, indicates that its Bobocu 310 well is located at the edge of a reservoir lobe, and that drilling during September uncovered multiple gas shows with wireline logs indicating a presence of a gas-bearing reservoir.
The company added that newly-acquired shear sonic logs are now being used to fine tune 3D seismic data in order to further improve the geological model. Meanwhile, while the firm's management team is confident that Bobocu remains a highly-prospective development project, it said that multiple wells will be required to bring it into full field production.
Zeta Managing Director Stephen West commented in a company statement:
"With the improved geological model at our Bobocu project we remain confident that the previously producing Bobocu field is prospective and can be brought back into production. Following detailed examination of the well data acquired from drilling in September 2012 and the acquisition of modern logs we can now see that the Bobocu 310 well was not drilled at the optimum location. Armed with a more comprehensive understanding of the geology, we believe the in situ gas at Bobocu can be recovered and in the process unlock and maximise value for shareholders. Further updates on our progress at Bobocu will be provided in due course."
WHAT DO YOU THINK?
Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.
- ExxonMobil Racks Up Discoveries in Guyana Block Eyed by Chevron
- Oil Market Sentiment Has Improved Significantly
- EU, US Eye Collaboration on Nuclear Materials
- USA Driving Activity to Increase to All-Time Highs
- TC Energy to Sell Prince Rupert Gas Pipeline Project to First Nation
- EU Electricity Export to Ukraine Up 94 Percent in Two Years
- China Coal Output Falls for First Time since Government Ordered More
- BP Pulse Buys One of Europe's Largest Truck Stops
- UK CCUS Plans Outdated: Think Tank
- North America Enters Rig Loss Streak
- Norway Regulator Blasts Proposal to Halt New Oil and Gas Permits
- Chinese Mega Company Makes Major Oilfield Discovery
- EIA Drops 2024 Henry Hub Gas Price Forecast
- EIA and Standard Chartered Offer Up Latest Oil Price Predictions
- Red Sea Region Sees Another Watershed Incident
- Chevron Oil Project in Kazakhstan to Cost $48.5B
- OPEC Voices Encouragement after IEA Affirms Support for Oil Security
- Biden Govt Bares Strategy for Freight Charging, Hydrogen Fueling Infra
- Ukraine Hits Third Russian Refinery In Escalating Drone Strikes
- Rystad Looks at the Buzz Around White Hydrogen
- VIDEO: Missile Attack Kills Crew Transiting Gulf of Aden
- Norway Regulator Blasts Proposal to Halt New Oil and Gas Permits
- Chinese Mega Company Makes Major Oilfield Discovery
- What Is the Biggest Risk to Offshore Oil and Gas Personnel in 2024?
- Is Peak Oil Demand Close?
- Vessel Sinks in Red Sea After Missile Strike
- JP Morgan, Standard Chartered Reveal Latest Oil Price Forecasts
- Exxon Rights in Stabroek Do Not Apply to Hess Merger with Chevron: Hess
- Rystad Forecasts Net Production of Top Permian Producers in 2024
- Analysts Reveal Latest Oil Price Outlook Following OPEC+ Cut Extension