Interra Drills CHK 1173 Development Well in Chauk Oil Field

Interra Resources Limited (the Company or Interra) announced Wednesday that its jointly controlled entity, Goldpetrol Joint Operating Company Inc. (Goldpetrol), has commenced drilling development well CHK 1173 in the Chauk oil field in Myanmar.

Interra has a 60 percent interest in the Improved Petroleum Recovery Contract of the Chauk field and also owns 60 percent of Goldpetrol which is the operator of the field. CHK 1173 is being drilled using Goldpetrol’s LTO 350 rig, thus drilling costs are expected to be relatively low. Interra’s share of the cost of drilling will be funded from existing funds on hand.

CHK 1173 will be drilled to a targeted depth of 2,600 feet as an infill development well to CHK 1166 and CHK 1171, both of which were completed as oil producers this year. The primary objective is to accelerate production from the oil reservoirs that produce from these two wells and other wells in this fault block.

Interra estimates that the results of the drilling and completion should be available in approximately six weeks. The Company will announce the results of the drilling operation as soon as they may be ascertained as well as updates reflecting critical or unexpected events during drilling.

WHAT DO YOU THINK?

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


Most Popular Articles


From the Career Center
Jobs that may interest you
Wellsite Supervisor (Gulf of Mexico)
Expertise: WellSite Supervisor
Location: Gulf of Mexico, TX
 
Deepwater (Drilling and Completions) Engineer - Houston TX
Expertise: Drilling Engineering|Workover or Completion
Location: Houston TX, TX
 
Rig Operations Manager
Expertise: Rig Manager|Workover or Completion
Location: Gulf Coast Area
 
search for more jobs

Brent Crude Oil : $50.05/BBL 5.23%
Light Crude Oil : $45.22/BBL 6.25%
Natural Gas : $2.72/MMBtu 3.42%
Updated in last 24 hours