Southwestern Energy Successfully Drills in La.
by February 5, 2001 12:00 am 60 views
On Jan. 25, Fayetteville’s Southwestern Energy Co. announced a successful exploration well in Assumption Parish, La. The company penetrated about 260 feet of gas in the well, which was drilled to a depth of 15,798 feet. Southwestern operates the well and holds 33 percent of the working interest.
Century Royalty LLC of Houston, Texas, and Petro-Hunt LLC of Dallas hold the remaining working interest.
Pushing its oil and gas exploration and production venture further, Southwestern recently increased its foothold in New Mexico’s Permian Basin by forming two exploratory alliances. An agreement with Phillips Petroleum Co. of Bartlesville, Okla., will produce at least four exploratory wells this year on 21,100 acres in Eddy County, N.M. The agreement will expire Sept. 1, 2002.
Previously, Southwestern Energy also agreed to explore 14,200 acres of Lea and Eddy counties in New Mexico with Energen Resources Corp. of Birmingham, Ala.
The land is held by Energen Resources, an oil and gas subsidiary of Energen Corp. Southwestern and Energen plan to drill at least two exploratory tests on the site this year. The agreement spans through July 1, 2002.
All of the wells in the alliances will be operated by Southwestern Energy.