Basic Petroleum completes Xan-10 Well; Daily production increases 40% from January.NEW YORK--(BUSINESS WIRE)--April 10, 1996--Basic Petroleum International Limited (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). : BPILF) announced today that it has successfully completed Xan-10, a development well in the northern part of the company's productive Xan field. The well tested at approximately 1,700 barrels per day Barrels per day (abbreviated BPD, bbl/d, bpd, bd or b/d) is a measurement used to describe the amount of crude oil (measured in barrels) produced or consumed by an entity in one day. , adding 11% to Basic's daily production. The new well brings Basic's production to 17,500 barrels per day. Xan-10 is the ninth successful well drilled in the Xan field; three of which were completed during 1996. Combined production of the three wells increases the company's daily production 40% since the beginning of the year. The company also announced that it has started drilling at Xan-11. Basic Petroleum International Limited is an oil exploration, development and refining refining, any of various processes for separating impurities from crude or semifinished materials. It includes the finer processes of metallurgy, the fractional distillation of petroleum into its commercial products, and the purifying of cane, beet, and maple sugar company, with operations in Guatemala, executive offices in Paris and an investor relations Investor relations The process by which the corporation communicates with its investors. office in New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of . CONTACT: Stuart M. Carlisle 212/614-4000 or Monica R. Bonner 212/832-0474 |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion