Burlington Resources acquires 5.3 mm acres in offshore Gabon

Jul 31, 2000 02:00 AM

Burlington Resources announced its entry into West Africa with the acquisition of a 25 % interest in the AGIP-operated M'Polo, Chaillu and Meboun Blocks, covering 5.3 mm acres in offshore Gabon.
A 3,100 sq km (1,200 square mile) seismic shoot has been completed over the blocks and two wells are planned for 2001. The concession calls for six wells to be drilled by mid-year 2003, two wells on each block. Mean field size for industry discoveries to date in the Deep Water Play in West Africa is approximately 375 mm barrels of oil equivalent.
Bobby S. Shackouls, BR's Chairman, President and CEO, commented: "The acquisition of this interest in the Deep Water Province of West Africa provides us with additional exposure to high potential exploration and complements the other international exploration opportunities we already have in China, Suriname, Ecuador, Peru, Colombia, Algeria and Canada."

Source: Business Wire via Newspage
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