Entek Energy: Production at High Island 24 to Start in October
Entek Energy has built a solid portfolio of assets and will soon start receiving a substantial revenue stream based on an assessment of the value of its resources at High Island 24-L in the Gulf of Mexico with production due to commence in October 2007, and with recent new developments on its SW Queensland holdings.
In the Gulf of Mexico, as a result of a strategic approach to building value through focusing on low risk, high reward prospects that fit the Company's development strategy, Entek is a participant with US partners in a significant gas discovery at shallow depth in Texas State Waters.
Over a relatively short time, Entek has taken the above Gulf of Mexico prospect through bidding, drilling and discovery, with the project now in the final stages of preparation for production.
Entek's US manager is stationed in Houston and has the expertise to oversee developments.
Russell Brimage, Entek's Chairman, sees recent developments as a turning point, "With oil and gas prices rising, the new production program is starting up at the right time. The income stream generated will enable Entek to further expand its interests in the Gulf of Mexico."
- Entek Finalizes Sells GOM Stake, Adds Niobrara Acreage (Mar 08)
- Entek to Commence Frac Stimulation Program at Battle Mountain (Sep 15)
- Entek Updates Activities in Niobrara Shale Oil Proj. (Sep 01)