Coastal Energy Co total offshore oil production reaches 11,800 bopd, Songkhla A wells perform in line

Thailand focused oil and gas explorer and producer Coastal Energy Co (LON:CEO) has said its Bua Ban A-06 well has encountered 40 ft (feet) of net pay with 17.5% porosity in the Lower Oligocene reservoir and is currently producing 800 barrels of oil per day.

The Miocene section of the Bua Ban A-03 well has been completed and is currently producing approximately 80 bopd, while the well is being evaluated. Two further wells, the Bua Ban A-04 and A-07, are currently being drilled and completed, and then production testing can begin.

Coastal Energy said that the four wells at Songkhla A continued to perform in line with modelled rates and the company’s total offshore production now amounted to 11,800 bopd, giving it a total combined production of 13,800 boepd (barrels of oil equivalent per day) including 2,000 boepd from the Sinphuhorm gas field.

“We are continuing to add production offshore as we develop the Bua Ban field.  We are excited about the rig contract extension as it will allow us to expedite development work at Bua Ban as well as undertake some exploration drilling on the surrounding satellite structures,” said chief executive of Coastal Energy Randy Bartley.

The company added that it extended its rig contract with the Atwood Vicksburg through June 2011 on similar terms to the existing contract.

http://www.proactiveinvestors.co.uk/companies/news/20140/coastal-energy-co-total-offshore-oil-production-reaches-11800-bopd-songkhla-a-wells-perform-in-line-20140.html