Mart Resources' Development Plans in Niger Delta on Schedule


Niger Delta, Nigeria
(Click to Enlarge)
Mart Resources reports that development plans for Mart's oil fields in the Niger Delta are on schedule to commence in the fourth quarter of 2005. At Umusadage, Mart and its partner plan to drill two new wells based upon analysis of data from the previously drilled N2 well, which initially flowed on test 2,654 barrels of oil per day. Drilling operations should commence in November of this year. At Qua Ibo it is anticipated that two wells will be drilled. Development plans for both of these fields entail the early procurement and installation of production facilities with crude oil being exported to nearby third-party infrastructure. At Eremor, where the Company and its partner re-entered and tested the Eremor #1 well at a rate of 940 barrels of oil per day, Mart and Excel are presently finalizing a detailed field development plan.

To facilitate the drilling, re-entry and well completion demands of Mart's aggressive development program, the Company has acquired a majority interest in a drilling rig that has been specifically modified to withstand the unique yet varied conditions presented in the Niger Delta. Mart's exclusive access to this rig in a very competitive rig availability market gives the Company a tremendous competitive advantage as well as providing minimum drilling costs and maximum time efficiency. The rig is presently en route to Nigeria and upon arrival will be poised to play a major role in Mart's exciting fourth quarter expansionary plans.

Events  SUBSCRIBE TO OUR NEWSLETTER

Our Privacy Pledge
SUBSCRIBE


Most Popular Articles


From the Career Center
Jobs that may interest you
Blow Out Prevention (BOP) Specialist
Expertise: Subsea Engineer|Subsea Engineering
Location: Houston, TX
 
United States Broussard: Senior Field Engineer - MWD/LWD
Expertise: Field Development
Location: Broussard, LA
 
Senior Well Engineer
Expertise: Drilling Engineering|Well Control
Location: United States
 
search for more jobs

Brent Crude Oil : $53/BBL 1.72%
Light Crude Oil : $49.77/BBL 2.27%
Natural Gas : $3.6/MMBtu 1.09%
Updated in last 24 hours