Whittier Announces Drilling and Operations Update
Whittier Energy Corp. said that it has successfully drilled 17 new wells in the first half of 2006 out of a total of 20 wells drilled. In addition, four more wells have been successfully drilled to date during the third quarter giving the company a success rate of 87.5% for the year. Eleven wells successfully drilled and completed are waiting on final pipeline connections.
The company also announced today that total production for the second quarter of 2006 was approximately 1.48 billion cubic feet of natural gas equivalent (Bcfe) and total production for the first six months of 2006 was approximately 2.73 Bcfe. Average daily production for second quarter 2006 was 16.23 million cubic feet of natural gas equivalent (Mmcfe) compared to approximately 14 Mmcfe per day during first quarter 2006.
For the third quarter of 2006, the company expects six wells in its Southeast Texas 3D project and one additional well in the Esperson Dome field to be turned to sales by the end of August. In addition, the Duhon #1 well located in Lafayette Parish, La., was shut-in for repairs early in the third quarter. The company owns a 9.75% working interest in this well that was producing 15 Mmcfe per day (1 Mmcfe per day net) before it was shut-in. The company expects the well to be back on line by the end of August.
Whittier Energy Corp. is an independent oil and gas exploration and production company headquartered in Houston, Texas, with operations in Texas and Louisiana. Whittier Energy also holds non-operated interests in fields located in the Gulf Coast, Oklahoma, Wyoming, and California.
- Sterling Completes $145M Acquisition of Whittier (Mar 29)
- Whittier Stockholders Okay Sterling Merger (Mar 27)
- Sterling Energy to Acquire Whittier Energy for $188 Million (Jan 19)