Rapagnano Gas Reserves Upgraded by 31%

Junior explorer Sound Oil confirmed Monday an increase to its proven reserve estimates at the Rapagnano gas field, onshore Italy. The firm said that its internal estimate of proven (1P) reserves at Rapagnano has been upgraded to 1.06 billion cubic feet of gas – a 31-percent increase on its 2013 year-end estimate of 0.81 billion cubic feet.

Sound said the new estimates come after it took the opportunity to measure the bottom hole pressure in the Rapagnano production well during a planned maintenance shutdown in May.

Sound's estimate of proven and probable (2P) reserves at Rapagnano remained unchanged at 1.28 billion cubic feet.

Production at Rapagnano is expected to continue on an extended plateau rate for at least another 12 years, the firm added.

Sound CEO James Parsons commented in a company statement:

"Our strategy of monetizing our smaller production assets has been borne out by these very pleasing results at Rapagnano. Our next asset to come on stream will be the Casa Tiberi field with production start-up expected shortly."

 



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
 -  LyondellBasell Plans Its Largest Inves... (Jul 21)
 -  Preparing a Mechanical Engineering Res... (Jul 19)
 -  Tesoro Signs Deal with Pemex to Enter ... (Jul 19)
 -  Irish Gas Grid Could Receive LNG from ... (Jul 19)
 -  What's It Take to Land a Job as a Petr... (Jul 14)


Most Popular Articles

From the Career Center
Jobs that may interest you
Load Planner/ Dispatcher Frac Sand
Expertise: Dispatcher|Project Management
Location: Mansfield, TX
 
Project Engineer
Expertise: Electrical Engineering|Instrument & Controls Engineer|Project Management
Location: Deer Park, TX
 
Operations Specialist - DJ Operations
Expertise: Operations Management
Location: Platteville, CO
 
search for more jobs

Brent Crude Oil : $48.06/BBL 2.51%
Light Crude Oil : $45.77/BBL 2.17%
Natural Gas : $2.97/MMBtu 2.30%
Updated in last 24 hours