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Providence Resources Starts Singleton Drilling Program

LONDON -(Dow Jones)- Providence Resources PLC (PZQA.DB), an oil and gas exploration and production company, said Thursday it started drilling a new well Wednesday at the Singleton field, onshore U.K. which is expected to provide up to 500 barrels of oil equivalent per day, or BOEPD, of additional cumulative production. MAIN FACTS: -Singleton field is located in the Weald Basin and currently produces up to 900 BOEPD. -Field is operated by Providence (99.125%), with partner Noble Energy Inc (NBL) (0.8725%). -Drilling program, using the KCA Deutag T49 drilling rig, comprises the drilling of a new multi-lateral horizontal production well to the south west. -Drilling operations are expected to take up to 100 days and will entail the drilling of a main well-bore of 16,800 ft length, which should provide upwards of 4,000 ft gross exposure to the hydrocarbon reservoir. -A subsequent lateral is also planned which should provide a further 4,000 ft of gross reservoir exposure. -New well has been designed to allow for future acid stimulation, thereby providing further incremental production potential. -Well should see Company boosting production levels to 1,500 BOEPD through a series of initiatives at the field, including new wells, de-gasification of the plant and acid stimulation. -Shares at 0805 GMT unchanged at 227 cents valuing the company at EUR113.07 million. -By Ian Walker, Dow Jones Newswires; 44-20-7842-9296; ian.walker@dowjones.com

Stock News for Noble (NBL)
DateTimeHeadline
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07/13/201405:53:15Estimated Reserves in Israel's Leviathan Gas Field Raised
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06/04/201405:30:15Rockhopper Exploration: Premier Contracts Drilling Unit
06/04/201405:12:49Falkland Oil and Gas Signs Rig Contract For 6-Well Drill Program
05/21/201403:03:44Woodside Terminates Leviathan Deal--Update
05/06/201417:41:12Israeli Offshore Natural Gas Is Headed to Egypt
04/15/201409:30:42Noble Energy CEO Davidson to Retire in 2015
03/12/201411:41:42Israel's Tamar Field Signs Second Domestic Gas Supply Deal This...
02/21/201401:59:43Noble Plans China Oil-Field Stake Sale -- Update
02/06/201421:10:04Woodside Says Terms of Leviathan Agreement Changed
02/06/201418:31:30Noble Energy Signs Pact to Sell Offshore Licenses to Woodside
02/06/201412:25:48U.S. Hot Stocks: Hot Stocks to Watch
12/18/201310:19:34Israeli Firms Distance Themselves From Noble Energy's Oil Field...
12/17/201309:44:12Noble Energy Sees $4.8 Billion in Capital Spending Next Year
12/10/201308:39:05Dominion to Lease Marcellus Rights to Consolidated in West Virginia
12/04/201309:42:13Noble Energy Unveils Two Exploration Discoveries
12/02/201308:08:13Israel's Givot Olam Halts Drilling at Meged field
11/28/201308:09:38Increased Natural Gas Production Fails to Boost Delek Group's...
11/26/201304:14:09Israel's Tamar Gas Partners Say Signs of Petroleum in Nearby...

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