Magellan Petroleum Corp., Denver, said it could eventually add 50 million bbl of oil reserves to its books by bringing an existing oil field at Poplar, Mont., to full-scale carbon dioxide enhanced oil recovery operation.
First step in this process is a CO2-EOR pilot program that Magellan plans to begin this summer with five new wells. The pilot could cost as much as $20 million, the company said.
The evaluation period will take 12-24 months, after which the company hopes to move to a full-field development.Poplar, MT, is 75 miles due west of Williston.
The link for the Poplar oil field (thank you, Don).
I assume if they add 50 million bbls of their reserves, the CEO will start calling this a "popular" oil field.
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.