Talisman Energy Appalachian Production Exceeds 100 mmcf/d
Talisman Energy
Fortuna Energy Inc., a wholly owned subsidiary of Talisman Energy has achieved a major milestone with production rates in excess of 100 mmcf/d from its Appalachian properties in the Corning area of New York State.
Additionally, the Company recently completed the SRA3 #1 gas well. The well was drilled horizontally to a measured depth of 11,704 feet and tested a new structure in the upper Black River formation. The well flowed on test at a rate of 19 mmcf/d at a wellhead pressure in excess of 2000 psi.
"These are prolific wells and their location close to major US markets means that they are particularly valuable," said Dr. Jim Buckee, President and Chief Executive Officer of Talisman Energy. "Production in the area has increased from 60 to over 100 mmcf/d in recent months. The northeastern US now accounts for over 12% of Talisman's consolidated North American natural gas production and significantly, generates about 18% of the operating cash flow from North American gas operations. Fortuna is continuing to build its land base in the area and is putting together plans for 2005."
A new pipeline is currently under construction for the SRA3 #1 well and the suspended Grand Prix well (initial expected production of 4 mmcf/d). The pipeline should be on stream in the third quarter of 2004. Additional structures are currently being drilled in the same general area as these wells.
Fortuna Energy Inc. has an active exploration and development program underway and expects to drill a total of 11 horizontal Black River wells in 2004. Year to date, six operated wells have been drilled and two are currently drilling. Capital spending is expected to exceed US$60 million in 2004. Further information will be released as these wells are completed and tested. All production numbers represent Fortuna Energy Inc. working interest before royalty.
Additionally, the Company recently completed the SRA3 #1 gas well. The well was drilled horizontally to a measured depth of 11,704 feet and tested a new structure in the upper Black River formation. The well flowed on test at a rate of 19 mmcf/d at a wellhead pressure in excess of 2000 psi.
"These are prolific wells and their location close to major US markets means that they are particularly valuable," said Dr. Jim Buckee, President and Chief Executive Officer of Talisman Energy. "Production in the area has increased from 60 to over 100 mmcf/d in recent months. The northeastern US now accounts for over 12% of Talisman's consolidated North American natural gas production and significantly, generates about 18% of the operating cash flow from North American gas operations. Fortuna is continuing to build its land base in the area and is putting together plans for 2005."
A new pipeline is currently under construction for the SRA3 #1 well and the suspended Grand Prix well (initial expected production of 4 mmcf/d). The pipeline should be on stream in the third quarter of 2004. Additional structures are currently being drilled in the same general area as these wells.
Fortuna Energy Inc. has an active exploration and development program underway and expects to drill a total of 11 horizontal Black River wells in 2004. Year to date, six operated wells have been drilled and two are currently drilling. Capital spending is expected to exceed US$60 million in 2004. Further information will be released as these wells are completed and tested. All production numbers represent Fortuna Energy Inc. working interest before royalty.
Most Popular Articles
- How Likely Is an All-Out War in the Middle East Involving the USA?
- Rooftop Solar Now 4th Largest Source of Electricity in Australia
- US Confirms Reimposition of Oil Sanctions against Venezuela
- EU, Industry Players Ink Charter to Meet Solar Energy Targets
- Analyst Says USA Influence on Middle East Seems to be Fading
- Russian Ships to Remain Banned from US Ports
- Brazil Court Reinstates Petrobras Chair to Divided Board
- EIB Lends $425.7 Million for Thuringia's Grid Upgrades
- Var Energi Confirms Oil Discovery in Ringhorne
- Seatrium, Shell Strengthen Floating Production Systems Collaboration
- An Already Bad Situation in the Red Sea Just Got Worse
- What's Next for Oil? Analysts Weigh In After Iran's Attack
- USA Regional Banks Dramatically Step Up Loans to Oil and Gas
- EIA Raises WTI Oil Price Forecasts
- How Likely Is an All-Out War in the Middle East Involving the USA?
- Venezuela Authorities Arrest Two Senior Energy Officials
- Namibia Expects FID on Potential Major Oil Discovery by Yearend
- Oil Markets Were Already Positioned for Iran Attack
- Is The Iran Nuclear Deal Revival Project Dead?
- Petrobras Chairman Suspended
- Oil and Gas Executives Predict WTI Oil Price
- An Already Bad Situation in the Red Sea Just Got Worse
- New China Climate Chief Says Fossil Fuels Must Keep a Role
- Oil and Gas Execs Reveal Where They See Henry Hub Price Heading
- Equinor Makes Discovery in North Sea
- Macquarie Strategists Warn of Large Oil Price Correction
- DOI Announces Proposal for Second GOM Offshore Wind Auction
- Standard Chartered Reiterates $94 Brent Call
- Chevron, Hess Confident Embattled Merger Will Close Mid-2024
- Analysts Flag 'Remarkable Feature' of 2024 Oil Price Rally