Gulf Keystone Starts Drilling Iraq’s Shaikan-1 Exploration Well
June 24 (Bloomberg) -- Gulf Keystone Petroleum Ltd.,
the Bermuda-based oil explorer, started drilling the Shaikan-1
exploration well in the Kurdish region of northern Iraq with a planned
total depth of as much as 3,500 meters.
The range of depth reflects the under-explored nature of
the area and the lack of nearby wells, the company said today in a
statement distributed by the Regulatory News Service. At depths below
1,350 meters, the well began to encounter “lighter, live oil shows,”
which have since increased.
The well will reach target depth in line with its planned schedule, Executive Chairman Todd Kozel said.
“Although we are at an early stage in the drilling of
this well, we are encouraged by these shallow zone live oil shows and
by the good progress our drilling crew is making despite some difficult
geological conditions,” he said in the statement.
To contact the reporter on this story: Stephen Cunningham in London on scunningha10@bloomberg.net
Last Updated: June 24, 2009 02:01 EDT
http://www.bloomberg.com/apps/news?pid=20601104&sid=aXMicUIIRWoY
June 24 (Bloomberg) -- Gulf Keystone Petroleum Ltd.,
the Bermuda-based oil explorer, started drilling the Shaikan-1
exploration well in the Kurdish region of northern Iraq with a planned
total depth of as much as 3,500 meters.
The range of depth reflects the under-explored nature of
the area and the lack of nearby wells, the company said today in a
statement distributed by the Regulatory News Service. At depths below
1,350 meters, the well began to encounter “lighter, live oil shows,”
which have since increased.
The well will reach target depth in line with its planned schedule, Executive Chairman Todd Kozel said.
“Although we are at an early stage in the drilling of
this well, we are encouraged by these shallow zone live oil shows and
by the good progress our drilling crew is making despite some difficult
geological conditions,” he said in the statement.
To contact the reporter on this story: Stephen Cunningham in London on scunningha10@bloomberg.net
Last Updated: June 24, 2009 02:01 EDT
http://www.bloomberg.com/apps/news?pid=20601104&sid=aXMicUIIRWoY