Beyond the oil horizon
, Vardo must create new means of production, and exploit the harbour as the centre of a post-carbon economy,' says Langdon.
As the Company shifted its production growth from the shallower Tilston oil to the deeper Red River oil horizon
, production for the first three quarters of this year has dropped through a combination of producing property sales and natural production declines.
And the known oil horizons
have proved to contain limited reserves compared with those in Libya or the Arabian Gulf, which Iran insist on calling this Persian Gulf.
We are planning to significantly increase our drilling activities in the Uinta Basin - both in our proven shallow oil developments and in new and deeper oil horizons
," said Lee K.
We also believe, based on internal reservoir engineering evaluations, that three additional oil horizons
present in the WTU, the Ranger, UP/Ford and Tar formations, may contain economically productive oil reserves.
Though the field is a proven gas producer, oil shows were prevalent in many wells, and several deep wells in the vicinity have indicated deeper oil horizons
with production of up to 8,000 barrels of oil per day in single wells.
This multiple zone discovery encountered separate natural gas and heavy oil horizons
Furthermore, our initial interpretation is that several Minghuazhen oil horizons
found in the 11-5 well may be extensions of reservoirs being developed over 2 kilometers away at the 11-1 field.