Monterey warrants further studies

Offshore staff

READING, UK --Wintershall is moving closer to development of the Monterey field in the UK southern gas basin, according to partner Black Rock Oil & Gas.

Over the past six months, Wintershall has been evaluating results of the 49/8c-4 well, and has also been modeling the potential application of horizontal well technology and fracture stimulation. This work suggests a development could be economic.

The operator also has identified an export route that could cut non well-related capital expenditure substantially.

Future work will include a second phase of a seismic study to evaluate the distribution and quality of the Carboniferous reservoir compartments; pre-development studies; and economic screening of the Monterey field.

The joint venture partners have also completed a mandatory 50% relinquishment of the 49/8c and 49/9d area, and are now into the license's second four-year term.

12/03/2007