Reserve

The contribution of exploration in 2007 to the Gulf of Mexico (GOM) deepwater’s reserve base was the lowest in the past decade, according to a new report by consultant Wood Mackenzie. Reserves found amounted to only 553 million boe — less than half the reserves found in 2006.

The contribution of exploration in 2007 to the Gulf of Mexico (GOM) deepwater’s reserve base was the lowest in the past decade, according to a new report by consultant Wood Mackenzie. Reserves found amounted to only 553 million boe — less than half the reserves found in 2006.

One day after the Kitimat LNG project, which would be built on an Indian reserve near Kitimat, BC, received environmental approval (see Daily GPI, June 7), another British Columbia liquefied natural gas (LNG) project initiated the regulatory review process.

What do you do when the Fort Worth Barnett Shale is your company’s largest play with estimated reserve potential of 1.9-2.5 Tcfe net in Johnson County alone? Why, you expand your acreage position to the south and west, picking up acreage in Hill County to the south and Palo Pinto County to the West and growing potential reserves to 4.5-6.7 Tcfe net.

What do you do when the Fort Worth Barnett Shale is your company’s largest play with estimated reserve potential of 1.9-2.5 Tcfe net in Johnson County alone? Why, you expand your acreage position to the south and west, picking up acreage in Hill County to the south and Palo Pinto County to the West and growing potential reserves to 4.5-6.7 Tcfe net.

Occidental Petroleum said nearly 280 MMcf/d of gas production remains shut in at Elk Hills, the former Naval Petroleum Reserve, north of Bakersfield, CA, in the San Joaquin Valley because of a gas pipeline rupture, explosion and fire last Tuesday.

The exploration and production (E&P) arm of National Fuel Gas Co. (NFG) is hiring a third-party consultant to analyze the reserve potential of its Appalachian Basin holdings, executives said last week. Seneca Resources Corp.’s current proved reserves total about 83 Bcfe, or 13% of its total consolidated reserves, but the E&P wants to test the potential of its 935,000 net acre play after partnering with EOG Resources Inc. on some horizontal drilling projects.

Occidental Petroleum said about 288 MMcf/d of gas production remains shut in at Elk Hills, the former Naval Petroleum Reserve, north of Bakersfield, CA, in the San Joaquin Valley because of a gas pipeline rupture, explosion and fire on Tuesday.

The exploration and production (E&P) arm of National Fuel Gas Co. (NFG) plans to hire a third-party consultant to analyze the reserve potential of its Appalachian Basin holdings, executives said Tuesday. Seneca Resources Corp.’s current proved reserves total about 83 Bcfe, or 13% of its total consolidated reserves. However, Seneca apparently wants to test the potential of its 935,000 net acre play after partnering with EOG Resources Inc. on some horizontal wells.