Forcenergy Gas Exploration Inc. announces successful exploration and development drilling.MIAMI--(BUSINESS WIRE)--Oct. 23, 1995--Forcenergy Gas Exploration Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :FGAS FGAS Federation of German American Societies (Rochester, New York) ) announced that it has successfully completed three exploratory wells and one development well on its South Marsh Island Block 106/115 property 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 . These wells are producing approximately 2,000 barrels of oil per day and 5,000 Mcf of gas per day. The latest exploratory well completed, the A-5 ST, encountered approximately 55 feet of pay and is currently testing at a rate of approximately 1,000 barrels of oil per day, 400 Mcf of gas per day and no water. FGAS has a 100% working interest in these wells. FGAS has estimated that the drilling to date on the South Marsh Island Block 106/115 field has added approximately 1.8 million barrels of oil and 4.7 billion cubic feet of gas to the company's reserve base. Currently, two additional exploratory wells are being drilled in the SMI (1) (Storage Management Initiative) The initiative developed by the SNIA in 2003 to create a single standard interface for storage management technologies used by multiple vendors and networking communities. 106/115 field and, if successful, are expected to be completed during 1995. Further drilling is planned on these blocks during 1996. FGAS's development program is proceeding on schedule at its South Pass Block 24 field. A total of eight development wells have been drilled and should be completed and producing prior to year-end year-end also year·end n. The end of a year. adj. Occurring or done at the end of the year: a year-end audit. Noun 1. . FGAS expects that the development drilling at South Pass Block 24 will result in proven reserve additions. Forcenergy Gas Exploration Inc. is an independent oil and gas company engaged in the development, exploration, acquisition and production of domestic oil and natural gas properties. CONTACT: Forcenergy Gas Exploration Inc., Miami Stig Wennerstrom, President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. or J. Russell Porter, Vice President 305/856-8500 |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion