InterOil Completes Second Well in Peru's Block II

InterOil's second well in the new area in the Southern part of Block III (Mirador) in Peru is completed. The two wells produce 1,120 bopd net to the company. A third and fourth well will be spudded in early August using two rigs simultaneously.

The second well encountered the oil reservoir deeper than in the first exploration well, possibly in a seperate structure, judging by the very high reservoir pressures.

The investment in this well is approximately USD$1.2 million and give a payback in less than six months at today's oil prices.

"We believe that this area contain significant new reserves, and we will continue drilling further to the west," commented Nils N. Trulsvik, CEO of InterOil E&P ASA.


Our Privacy Pledge

Most Popular Articles

From the Career Center
Jobs that may interest you
Production Engineer
Expertise: Production Engineering
Location: Houston, TX
Senior Client / Program Manager
Expertise: Geologist|Reservoir Engineering
Location: Seattle, WA
Senior Sales Representative - Oil and Gas
Expertise: Corrosion Engineering|Petroleum Engineering|Sales
Location: Harvey, LA
search for more jobs

Brent Crude Oil : $50.79/BBL 1.30%
Light Crude Oil : $49.96/BBL 1.10%
Natural Gas : $2.77/MMBtu 2.12%
Updated in last 24 hours