Prospex Energy plc has signed a binding agreement to buy its joint venture partner’s shares in the gas production concessions and exploration permits in Southern Spain. PRODUCTION The company and Warrego Energy Ltd operate through Tarba Energia S.L., with a 49.9 – 50.1% share in the El Romeral production concessions, and associated power plant, near […]
Tag: Prospex Energy plc
Prospex nears 3D seismic campaign at Selva
Prospex Energy plc’s partner has received regional approval to begin work for its 3D seismic campaign on the entire Selva Malvezzi production concession area in the Po Valley, Italy. DRILLING Po Valley Ltd’s subsidiary will develop the field with four new wells, adding to the Podere Maiar-1 well which produced 7.02 MMscm gas and gross […]
Prospex begins gas sales from Viura-1B
Prospex Energy plc has more than doubled production and revenue from its producing assets with the start of gas sales from the completed Viura-1B development well in northern Spain. EXPANSION Flow testing is underway at rates of up to 500,000 standard cubic metres per day, (17.7 million standard cubic metres per day), with 72,000 scm/d (2.6 MMscfd) net […]
Prospex expects Viura revenue early December
Prospex Energy plc anticipates of flow testing and revenue in early December from the Viura-1B development well in northern Spain. PAYBACK Drilled by partner Heyco Energy Iberia SL (HEI), the well reached its revised targeted total depth of 4,500 metres in October in the 6-inch hole section of the bottom 450m of the well. The […]
Deeper drilling in Viura-1B ‘exceeds expectations’
Prospex Energy plc said that the Viura-1B development well had exceeded expectations with good gas shows and several potential reservoirs at the onshore field in northern Spain. INSPIRATIONAL Drilling began in June, reaching the new target total depth of 4,500 metres, approximately 4,100m true vertical depth, on 21 October. The well had encountered the main […]
Prospex to expand into Poland
Prospex Energy plc plans to expand its onshore oil and gas portfolio with exploration licences in Poland. EXPERIENCE The company said it had identified “attractive” prospective blocks with proven gas production, high potential prospectivity in the targeted geological horizons, and high potential to unlock new reserves to bring onstream within two to three years. The […]