Petroceltic Finds More Gas at 2nd Well at Ain Tsila Field
May 23 2016 - 03:28AM
Dow Jones News
By Alex MacDonald
LONDON--Petroceltic International PLC(EG5A.DB) said Monday it
completed the second well on the Ain Tsila gas field in Algeria and
found 73 meters of gas and condensate bearing rock at the
Ordovician formation.
The AT-13 well was drilled on schedule and under budget. AT-13
is the second of up to 24 new development wells on Ain Tsila that
are forecast to boost the field's output to an average annual
production rate of 355 million standard cubic feet of wet gas per
day.
Petroceltic holds a 38.25% stake in the field, while Sonatrach
owns a 43.375% stake, and Enel SpA (ENEL.MI) an 18.375% interest in
the field.
Write to Alex MacDonald at alex.macdonald@wsj.com
(END) Dow Jones Newswires
May 23, 2016 03:13 ET (07:13 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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