Wiser announces new Gulf discovery - February 15, 2004

Providing coverage of Alaska and northern Canada's oil and gas industryFebruary 2004

Vol. 9, No. 7

Week of February 15, 2004

Wiser announces new Gulf discovery

Petroleum News

Wiser Oil Co. has a new discovery in the Gulf of Mexico, announcing Feb. 4 that a well designated as East Cameron Block 73 No. 1 has shown commercial quantities of gas.

Wiser has a 25 percent working interest in the well, operated by Remington Oil and Gas Corp. The well, about 15 miles off the Louisiana coast in 49 feet of water, was drilled directionally to a total depth of 11,498 feet. The well shares the same surface location with another discovery well, Vermilion Block 61 No. 1, also with Wiser as a 25 percent owner and Remington as operator.

The East Cameron well was tested at a rate of some 5 million cubic feet of gas equivalent daily, while the Vermilion well flowed at up to 14 million cubic feet a day.

Wiser, based in Dallas, expects production from both wells early in the second quarter of this year.

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