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Peregrine, partners gear up after GoM find


Published Apr 7, 2008
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MMS issues proposed notice of Western Gulf Lease Sale 207
courtesy MMS

Irish oil company Providence Resources has made a gas discovery in the U.S. Gulf of Mexico, where better-than-expected drill-bit success has partners thinking fast-track development.

The Galveston Island Block A-155 find looks set to tie into nearby pipelines and processing, Providence, which has an 11-percent stake has announced. The field lies 100 kilometres off the U.S. coast.

“ Initial evaluation suggests that the well results have exceeded the … associated resource estimate of (circa) 13 billion standard feet of reserves,” a statement said.

Operator Peregrine Oil & Gas has already secured access to third-party infrastructure for export from the block. Other partners are Challenger Minerals, UI Energy & HRB Oil & Gas.

Tags: Challenger Minerals, HRB Oil & Gas, Peregrine Oil & Gas, UI Energy



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