Callon continues to add interests in OCS Blocks.NATCHEZ, Miss.--(BUSINESS WIRE)--July 23, 1996--Callon Petroleum Company (Nasdaq NMS See NetWare Management System. :CLNP/CLNPP) announced today it has acquired a 29.3 percent working (22.9 percent net revenue) interest in Main Pass Blocks 164 and 165 in the Outer Continental Shelf In the federal United States, the Outer Continental Shelf (OCS) consists of the submerged lands, subsoil, and seabed, lying between the seaward extent of the States' jurisdiction and the seaward extent of Federal jurisdiction. (OCS OCS - Object Compatibility Standard ) in the Gulf of Mexico Noun 1. Gulf of Mexico - an arm of the Atlantic to the south of the United States and to the east of Mexico Golfo de Mexico Atlantic, Atlantic Ocean - the 2nd largest ocean; separates North and South America on the west from Europe and Africa on the east from Wadi Petroleum/P IV, L.P., and a 3-D seismic survey covering both blocks. The three wells on these blocks are producing 2.2 million cubic feet of natural gas per day (507 thousand cubic feet to the acquired interest). Within the last two months, Callon has added seven producing OCS blocks to its portfolio of drilling prospects, all of which are both contiguous to its Chandeleur Block 40 property and contain prospects for both exploratory and development drilling. "This is one of our key focus areas," explains Fred L. Callon, the company's president and chief operating officer Chief Operating Officer (COO) The officer of a firm responsible for day-to-day management, usually the president or an executive vice-president. . "We plan both additional seismic evaluation and drilling in the area during the second half of 1996." Callon Petroleum Company has been engaged in the exploration, development, acquisition and operation of oil and gas properties in the Gulf Coast region since 1950. CONTACT: Callon Petroleum Company, Natchez John S. Weatherly, 800/451-1294 |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion