Novus Petroleum Hits in the Gulf of Mexico
|Wednesday, January 09, 2002
Novus Petroleum Ltd. said its La Playa-1 well has discovered producible gas. The well will be tied into the existing pipeline infrastructure. "Given the proximity to infrastructure and the vibrant local gas market, Novus is confident that commercial production will be achieved from this well, even just from the net pay of 10 feet so far encountered," Novus Managing Director Bob Williams said in a statement. The well is expected to continue drilling toward its main objective a further 1,000 feet deeper into sands. The well is located offshore Padre Island in the western Gulf of Mexico. Plans are underway to drill a second well in early February.
BNP Petroleum is operator of the lease with a 25% interest, Novus owns a 30% stake, Mitusi has 15%, KCS has 20% and Golden Gate Resources has the remaining 10%.