Sign in Subscribe
Petroleum

Remington Oil and Gas Corporation Announces Successful Drilling Ventures

Strategic Insights

— 1 min read

Remington Oil and Gas Corporation has achieved significant drilling successes in the offshore region, with notable discoveries at Eugene Island 397 and High Island A-441. The company has also expanded its offshore 3-D seismic database by acquiring 1,000 blocks from Western Geophysical. This expansion provides Remington with nearly contiguous 3-D seismic coverage of the central region of offshore Louisiana, up to water depths of 600 feet.

Key Takeaways:

  • Remington has successfully drilled an exploratory well at Eugene Island 397, logging approximately 200 feet of true vertical thickness apparent oil pay in four sand intervals.
  • The OCS-G 15271 #1 well was drilled to a measured depth of 10,160 feet, and temporary abandonment is followed by a confirmation well on Green Canyon Block 48.
  • Remington owns a 37.5% working interest in the Eugene Island 397 discovery, operated by W&T Offshore, Inc. with a 50% working interest, and Magnum Hunter Resources, Inc. (Amex: MHR) owns the remaining 12.5% working interest.
  • The company has also successfully completed production testing operations at the High Island A-441 #1 discovery well, testing at a rate of 9 MMCFG and 126 barrels of condensate per day.
  • Remington operates the High Island Block A-441 well with a 75% working interest, and Magnum Hunter Resources, Inc. (Amex: MHR) owns the remaining 25% working interest.
  • The company has acquired 1,000 blocks of Western Geophysical's Ocean Bottom Cable (OBC) 3-D seismic data, expanding its existing 1,600-block 3-D seismic database.
  • James A. Watt, President and Chief Executive Officer, emphasized the company's commitment to using high-quality data and maintaining a strong seismic library.

Statistics:

  • The Eugene Island 397 well was drilled to a measured depth of 10,160 feet, with approximately 200 feet of true vertical thickness apparent oil pay.
  • The High Island A-441 #1 well tested at a rate of 9 MMCFG and 126 barrels of condensate per day.
  • Remington has acquired 2,000 blocks of 3-D seismic data, including 1,600 blocks from its existing database and 1,000 blocks from Western Geophysical.
  • Remington's 3-D seismic database covers nearly contiguous areas of offshore Louisiana up to water depths of 600 feet.

Sources:

  • PRNewswire, "Remington Oil and Gas Corporation Announces Successful Exploratory Well at Eugene Island 397", September 28, 2000.
  • Remington Oil and Gas Corporation, Company Filings with the Securities and Exchange Commission.

Read more