EXPLORATION

Santos USA focusing on onshore Texas Gulf coast

Santos Ltd, through its wholly-owned subsidiary, Santos USA Corp, is looking to focus its North A...

These include an additional 33 per cent working interest in the Runnells Gas Unit and associated facilities, an additional 33% working interest in the Ashland Deep Prospect, a 33% interest in the Triple Play Prospect and 635 net acres of undeveloped land.

"This is part of Santos' strategy of acquiring international assets with growth potential through reservoir optimisation and exploration. The area's proximity to infrastructure creates a favourable environment for creating economic value since production can be established quickly," Santos managing director, Mr John Ellice-Flint said.

Santos USA will acquire an estimated proved and probable reserves of 15.5 billion cubic feet of natural gas and 700,000 barrels of liquids, including 200,000 bbls of natural gas liquids and 500,000 bbls of condensate.

Thanks to a 100% drilling success rate in the Texas Gulf coast, Santos USA's production has grown from eight million cubic feet per day equivalent to 15 mmscfde prior to the above acquisition. Santos USA is forecasting a net production rate of 30 mmscfde by the end of 2001.

TOPICS:

A growing series of reports, each focused on a key discussion point for the energy sector, brought to you by the Energy News Bulletin Intelligence team.

A growing series of reports, each focused on a key discussion point for the energy sector, brought to you by the Energy News Bulletin Intelligence team.

editions

ENB CCS Report 2024

ENB’s CCS Report 2024 finds that CCS could be the much-needed magic bullet for Australia’s decarbonisation drive

editions

ENB Cost Report 2023

ENB’s latest Cost Report findings provide optimism as investments in oil and gas, as well as new energy rise.

editions

ENB Future of Energy Report 2023

ENB’s inaugural Future of Energy Report details the industry outlook on the medium-to-long-term future for the sector in the Asia Pacific region.

editions

ENB Cost Report 2021

This industry-wide report aims to understand current cost levels across the energy industry