Romania's OPCOM electricity spot volumes - Dec 04, 2023
Romania's OPCOM electricity spot prices - Dec 04, 2023
Croatia power consumption - Dec 02, 2023
Serbia power consumption - Dec 02, 2023
Bulgaria power consumption - Dec 02, 2023
Oct 17, 2007 13:26 EEST
October 17 (SeeNews) - UK oil explorer Regal Petroleum said on Wednesday it has started drilling the RBN-4 exploration well in the Barlad concession in northeastern Romania.
It is expected that the RBN-4 well will take approximately 18 days to drill at a cost of approximately $1.0 million (705,000 euro), Regal Petroleum said in a statement.
The RBN-4 well, wholly-owned by Regal Petroleum, is being drilled on a Sarmatian formation gas prospect identified by Regal in late 2006 using the 2D seismic data and is planned to reach a target depth of 1,050 metres.
Once the RBN-4 well is completed, it will be followed by the company's second planned exploration well, RBN-3. It is estimated to take approximately 20 days to drill at a cost of approximately $1.1 million.
The proximity of a network of gas pipelines coupled with the low costs of both drilling and gas handling facilities allows small gas accumulations to be commercially exploited.
Following evaluation of the results from these two Barlad wells, Regal plans to extend the Barlad licence into its second exploration period in order to further test Sarmatian prospects and to complete evaluation of the potential of the deeper oil play within Eocene and pre-Miocene formations in the south of the Barlad concession.
($ = 0.7048 euro)
You have run out of free articles this month.
Sign up in for
and get ten (10) free articles per month or sign up for
and get unlimited access.
Browse our free newsletter options