Wednesday, August 8, 2012

More Good News For The Bakken: A Second Cuban Off-Shore Well Comes Up Dry

Link to PennEnergy here.
Officials from Cuban national oil company Cubapetroleo announced Monday that the country's second exploratory offshore oil well proved to be unproductive, according to The Associated Press.
Because of a U.S. embargo of Cuba, oil companies exploring around the country have been forced to rely upon a single rig constructed of less than 10 percent American-made parts, which has made exploration difficult.

Spanish oil company Repsol attempted one well that came up dry in May, but soon after opted out of a second proposed well. This second dry well was drilled in concert by Petronas subsidiary PC Gulf and Gazpromneft, from Malaysia and Russia, respectively.



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