west linacapan and oil over 130bucks barrel

it would be interesting..

how times have changed previous oil price during previous production around "(the WTI oil price at the time averaged around US$19 per barrel.)"

oil now over $130bucks barrel..

from Nido's website re: West Linacapan.

Assets & Strategy: Philippines: West Linapacan

West Linapacan is located in 350 metres of water, approximately 60km offshore from Palawan Island in Service Contract 14, Block C in the Palawan Basin, Philippines. It is comprised of two main oil bearing structures - West Linapacan A and B - and several seismic leads.

The West Linapacan A and B structures are NW/SE trending, fault bounded anticlines. West Linapacan B is approximately 7.6 km to the ESE of the 'A' structure. Both are comprised of Upper Eocene to Lower Miocene age fractured limestones. The two reservoirs produce 32-34° API oil. The West Linapacan A field was produced for 3 years in the early 1990's but has been shut-in since early 1996.

Nido sees West Linapacan A as a potential redevelopment opportunity and West Linapacan B as a potential development opportunity.

Work is now in progress to determine the likely recoverable volumes and most appropriate method of redevelopment/development of these two oil resources.

West Linapacan A Redevelopment
West Linapacan A was discovered by Alcorn (Production) Philippines, Inc., in October 1990 with the drilling of the West Linapacan A1 well. This well, which was drilled to a depth of just over 1,800 metres, intersected around 290 metres of gross oil column and did not intersect any water. Drillstem testing of the well achieved oil rates in excess of 6,400 barrels per day.

November 1991 and March 1992 the West Linapacan A2 and A3 development wells were drilled, stimulated with acid and completed as producers. Both wells were also tested and flowed at rates up to 9,170 barrels of oil per day.

In January 1992 the A1 well was re-entered, deepened an additional 300 metres and completed as a future producer. All three wells were completed with subsea (sea floor) wellheads and then connected to the Floating Production, Storage and Offtake vessel FPSO-II via flexible umbilicals and production flowlines.

Production from the West Linapacan A Field commenced in May 1992 with an initial production rate of just over 18,700 barrels of oil per day. Production of water with the oil (water cut) began within 9 months of production start-up and over the ensuing 3.5 years steadily increased.

During this time a series of recompletions on the A2 and A3 wells were carried out in an attempt to increase oil production and reduce water cut. These were not entirely successful and, in early 1996, the field was shut-in as it had become uneconomic (the WTI oil price at the time averaged around US$19 per barrel.) The floating production facility was removed from the field and it has since remained shut-in.

The field produced a total of 8.5 million barrels of oil while on production.

West Linapacan B Development
West Linapacan B1X was drilled in March 1993 to evaluate a nearby, deeper seismic target. This well reached a depth of 2,472 metres and an oil-water contact was not intersected. The well flowed up to 2,900 barrels of oil per day on test from the same fractured carbonate reservoir as the 'A' accumulation. The resource was considered sub-economic and the well was plugged and suspended as a potential production well.