Offshore staff
CALGARY, Alberta -- Antrim Energy Inc. and partners have signed a two-year rig contract for work on the Tierra del Fuego licenses offshore Argentina. Quintana WellPro S.A. will provide a rig for drilling activity scheduled for 2Q 2007.
In the interim, testing, completion, and stimulation operations in the area ongoing. To date, five wells drilled have been stimulated, with a resulting increase in flow rates of 50-170 b/d of oil.
Drilling results, based on extensive 3D seismic, have proved the Tierra del Fuego licenses to be an oil and liquid-gas rich resource area, the company says. To date, Antrim and its partners have drilled 18 successful wells out of 19.
Over the past five months, the focus has been on recent oil discoveries, particularly in the Los Patos license, where four new wells have been drilled. The limits and development of this new oil pool will be at the center of the current testing program, new 3D seismic survey, and the renewed drilling campaign in 2007, the company says.
A large number of locations have yet to be drilled based on the 3D seismic program acquired in 2005. A new 3D seismic program planned for next year is expected to add substantially to the existing inventory of oil and gas targets.
The company and its partners are investigating the possibility of acquiring additional seismic data for this area, Antrim says.
Antrim has a 25.78% interest in the Tierra del Fuego licenses.
12/06/2006
