Belco Oil & Gas announces successful completion of Turner 22 No. 1 second lateral.NEW YORK--(BUSINESS WIRE)--May 20, 1997-- Well To Be Placed On Production This Week Belco Oil & Gas Corp. (NYSE NYSE See: New York Stock Exchange :BOG bog, very old lake without inlet or outlet that becomes acid and is gradually overgrown with a characteristic vegetation (see swamp). Peat moss, or sphagnum, grows around the edge of the open water of a bog (peat is obtained from old bogs) and out on the surface. ) today announced the successful test of the second lateral (downdip) on its Turner 22 No. 1 well in St. Landry Parish, Louisiana St. Landry Parish (French: Paroisse de Saint-Landry) is a parish located in the U.S. state of Louisiana. The parish seat is Opelousas. In 2000, the population of the parish was 87,700. As of 2006, the population estimate is 91,528. . On initial test, the lateral flowed from the Austin Chalk formation See See also: Chalk at the rate of 2,700 barrels of oil per day and 9.3 million cubic feet of gas per day at a flowing tubing pressure of 4,600 pounds per square inch Noun 1. pounds per square inch - a unit of pressure psi pressure unit - a unit measuring force per unit area on a thirty/sixty-fourth inch choke. This dual lateral well was drilled to a vertical depth of approximately 16,700 feet with the downdip and updip laterals drilled horizontally for 2,400 and 2,700 feet respectively. The Company had previously announced initial test rates for the first lateral (updip) of 5,100 barrels of oil per day and 17 million cubic feet of gas per day at a flowing tubing pressure of 4,100 pounds per square inch on a forty-eight/sixty-fourth inch choke. Belco has a 100% working interest in this well until payout and a 77 1/2% working interest thereafter. Belco expects to place the downdip lateral on production in the next few days and will eventually combine production from both laterals. Chairman and Chief Executive Officer Robert A. Belfer stated that "The Company is extremely pleased with the successful initial test results from both laterals of this deep Louisiana Austin Chalk well." Belco Oil & Gas Corp. is an independent energy company engaged in the exploration, development and production of natural gas and oil. CONTACT: Laurence D. Belfer, President & COO - (212) 644-0561 or Myra E. Turoff, Investor Relations Investor relations The process by which the corporation communicates with its investors. - (212) 508-9539 |
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