Remington Says 65% of Pre-Storm Production Has Been Restored
Remington Oil and Gas estimates 65 percent of its pre-storm production has been restored. The Company expects production to resume at its largest producing field, East Cameron 346, next week following a two week shut down due to a facility upgrade and Hurricane Katrina. At the Company's non-operated South Pass 89 Complex, damage to three production platforms varies from minor to severe. Estimates for production restoration at this complex range from weeks to months. This field, prior to the storm, represented approximately 5 percent of our daily production.
Listed below are wells recently drilled, currently drilling or completing, along with wells that are scheduled to be drilled in the near term.
Prospect Category W.I.% Status/Spud Date Operator Offshore West Cameron 444 #2st1 Exploratory 100 Apparent Discovery Remington -Setting Pipe East Cameron 185 C-3 Exploratory 100 Producing Remington East Cameron 298 #1 Exploratory 100 Discovery-Awaiting Remington Platform East Cameron 346 A-15 Exploratory 75 Drilling @ 8,300' Remington Vermilion 61 B-3 Exploratory 100 September Spud Remington Eugene Island 391 #1 Exploratory 60 September Spud Remington Ship Shoal 250 #1 Exploratory 60 September Spud Remington South Pass 87 Aquarius Exploratory 50 Repairing Rig Marathon -Storm Damage
Remington will update its 3rd and 4th
quarter production guidance as soon as it can more fully evaluate the final impact of the storm.
- Helix Completes Remington Acquisition (Jul 03)
- Remington Announces Approval, Adoption of Merger Agreement (Jun 30)
- Remington Oil & Gas Reports 1Q06 Earnings (May 02)