KERR MCGEE HITS
|Wednesday, June 28, 2000
Kerr McGee gets positive results from the second appraisal well on block 04/36 offshore China in Bohai Bay. The results from the CFD 11-1-3 well show a flow rate of 1,800 barrels of oil per day, with an API gravity of 36 degrees. The well was drilled by China Offshore Northern Drilling Companyâ€™s jackup Bohai VII to a depth of 4,921 feet in 92 feet of water. This has extended the field limits to approximately 7,500 acres with estimated oil reserves of 130 million to 150 million barrels. A 3-D seismic program is schedule for this summer. Another exploratory well is being drilled approximately 6 miles northwest of the CFD 11-1 field. Kerr-McGee is the operator of block 04/36 and has an 81.8% interest and Pendaries hold the remaining 18.2% percent interest.