Norse Energy Successfully Completes Two New Gas Wells in Upstate New York
Posted on: Friday, 19 September 2008, 12:00 CDT
Norway-based Norse Energy has announced the successful completion of two new wells in the Herkimer Formation in central New York State. Production rates for each well approached one million cubic feet or 178 barrels of oil equivalent per day and possible further increases were restrained by the capacity of the production equipment.
At present, Norse continues to conservatively estimate average reserves of 1.2 billion cubic feet or 214,000 barrels of oil equivalent per well. With 250 identified locations, the projected reserve potential is in excess of 300 billion cubic feet in the Herkimer Formation alone.
Oivind Risberg, Norse Energy's CEO, said: "We now have on order larger capacity production equipment so that the encouraging geology of the area is allowed to demonstrate its full potential."
Source: Datamonitor
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