Petsec to Recommence Drilling Program in 4Q

The BP incident in the Gulf of Mexico has not directly affected Petsec Energy's operations to date, however resultant changes in the permitting of wells by both US Federal and Louisiana State regulatory authorities is expected to cause general delays in the issue of new drilling permits, including the Gulf of Mexico Shelf where Petsec operates. Consequently the Company considers that its 2010 program of 3 to 5 wells to target 20-50 Bcfe net to Petsec will recommence in the fourth quarter of 2010 and will likely extend into 2011.


Our Privacy Pledge

Most Popular Articles

From the Career Center
Jobs that may interest you
Field Maintenance Controls Technician
Expertise: Maintenance Technician|Rig Mechanic
Location: Eighty Four, PA
Maintenance Supervisor - Drilling
Expertise: Maintenance Manager|Rig Mechanic
Location: Eighty Four, PA
Whipstock Welder
Expertise: Rig Welder|Welding|Workshop
Location: Lafayette, LA
search for more jobs

Brent Crude Oil : $51.78/BBL 0.77%
Light Crude Oil : $50.85/BBL 0.83%
Natural Gas : $2.99/MMBtu 4.77%
Updated in last 24 hours