-
Categories
-
Pharmaceutical Intermediates
-
Active Pharmaceutical Ingredients
-
Food Additives
- Industrial Coatings
- Agrochemicals
- Dyes and Pigments
- Surfactant
- Flavors and Fragrances
- Chemical Reagents
- Catalyst and Auxiliary
- Natural Products
- Inorganic Chemistry
-
Organic Chemistry
-
Biochemical Engineering
- Analytical Chemistry
- Cosmetic Ingredient
-
Pharmaceutical Intermediates
Promotion
ECHEMI Mall
Wholesale
Weekly Price
Exhibition
News
-
Trade Service
Canadian Overseas Oil Co.
, Ltd.
, an international oil and gas exploration, production and development company with operations concentrated in Wyoming, USA, announced a regular light oil area
found in its Wyoming assets, according to World Petroleum on January 10.
In addition, COPL has provided operational updates
for production in its Barron Flats Shannon field.
Arthur Millholland, President and CEO of COPL, said: "We acquired Atomic Oil & Gas in January 2021 and we realized the great potential of exploration, but the rationale and financial model of the acquisition reflects the long-term production flow of 5,000 bpd
from existing wells.
Since then, we have increased production of existing wells and accelerated our exploration program, announcing new discoveries
today.
This highlights the long-term production potential of Wyoming's assets, which are produced many times
higher than we initially expected.
”
We estimate that the discovered Frontier block covers an area of approximately 51 square miles and can drill up to 3 horizontal wells per square mile, with an initial production of 1,000-3,000 barrels per day
per well.
We plan to produce in phases and have applied for production permits for 4 horizontal wells While evaluating the entire field development plan, we will use internal resources to cover the initial cost
of the development.
This discovery highlights the long-term sustainable production prospects
of this outstanding asset.
”
"This is a major oil discovery, and the scale of growth in our assets in Wyoming has surprised
us all.
" Conventional light oil discoveries of this magnitude have been rare
on the North American continent for years or even decades.
We controlled most of this discovery as it coincided
with our large continuous rental blocks.
We will begin to develop this discovery
this year.
”