PERTH -- Entek has finalized two partnerships ahead of its 2010 Gulf of Mexico drilling program.
Entek has farmed out 50% working interest and operatorship in Galveston Island block A133 to Peregrine Oil and Gas. A processing and handling agreement with the adjacent GA A155 block and platform owners has also been completed.
Entek says the resource potential of GA A133 ranges from 2 bcf of 3P reserves (certified by Ryder Scott) to 18 bcf prospective resource. The initial well, scheduled to spud in June, will target up to 12 bcf. First production is expected by year-end
In Padre North block 975, Entek has completed farm-in of 25% working interest in the well to be drilled from the platform on the block. A processing and handling agreement is in place as well.
The well, scheduled to spud later this month, is targeting 4 bcf and a possible 2 bcf later. First production is expected by the end of June.