Petroneft to Restart Drilling Ops Later in 2013

Russia-focused Petroneft Resources reported Monday that it plans to recommence drilling operations later this year once it successfully refinances its bank debt.

Petroneft, which is active in Russia's Tomsk Oblast, said its plan includes delineations well at West Lineynoye, Tungolskoye and Sibktayevskoye, as well as the drilling of additional production wells at Arbuzovskoye.

Petroneft said it is looking at the potential farm-out of up to 50-percent of License 61 in the Tomsk Oblast and that it is currently in discussions with a number of parties in order to support its development aspirations. It is also actively negotiation with a number of Russian and international banks to refinance a debt facility it has with Macquarie Bank.

The firm added that its current group production is 2,500 barrels of oil per day, having produced an average of 2,464 bopd during the first six months of 2013.

Petroneft Chairman David Golder commented in a company statement:

"The first half of 2013 was a busy period for the company. Some production issues were resolved leading to more stable production in recent months.

"Since the annual general meeting on 11 September we have continued to make good progress on re-financing the company and I hope to be able to update shareholders in detail on this point in the coming weeks."



Have a news tip? Share it with Rigzone!
Email news@rigzone.com

WHAT DO YOU THINK?

Click on the button below to add a comment.
Post a Comment
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.

Related Companies
Events  SUBSCRIBE TO OUR NEWSLETTER

Our Privacy Pledge
SUBSCRIBE

More from this Author
Rigzone Staff
e-mail us at news@rigzone.com
 -  OTC 2016 Slideshow Features An Offerin... (May 3)
 -  OTC 2016: Get To Know Houston Like An ... (Apr 29)
 -  OTC 2016: Want to Drink Like A Local? ... (Apr 29)
 -  Five Things to Do at OTC 2016 (Apr 29)
 -  CNOOC's 1Q 2016 Revenue Falls to $3.8B... (Apr 29)


Most Popular Articles

From the Career Center
Jobs that may interest you
Operations Director - Downstream Refining
Expertise: Mechanical Engineering|Petroleum Engineering|Refinery Specialist
Location: Houston, MO
 
Independent Production Consultant
Expertise: Production Engineering|Production Operator
Location: Houma, LA
 
Field Engineer
Expertise: Construction Manager|Field Development
Location: Howell, MI
 
search for more jobs

Brent Crude Oil : $46.75/BBL 2.80%
Light Crude Oil : $43.65/BBL 2.52%
Natural Gas : $2.08/MMBtu 1.96%
Updated in last 24 hours