The first of four test production wells drilled by BP into the large Ugnu heavy oil deposit on the North Slope is performing well.
The first of four test production wells drilled by BP into the large Ugnu heavy oil deposit on the North Slope is performing well.
The market news is quoted as saying:
BP’s first test well was encouraging. The well produced up to 650 barrels per day of oil mixed with sand and with the sand removed the net production was about 550 barrels per day, said Eric West, BP’s manager on the project. Production at the first test well began on April 22. “It was higher than we expected. It is a good well,” West said.
The Ugnu has huge in-place heavy oil resources with estimates as high as 23 billion barrels of oil in place in the reservoir, but BP and other producers have worked for several years on ways of producing the oil, which is very thick is consistency.
MARKETS
COMMODITIES
Commodities | |||
---|---|---|---|
Gold | 1883.86 | +0.34 | |
Silver | 22.36 | +0.03 | |
Copper | 4.25 | -0.04 | |
Palladium | 2053.51 | +11.51 | |
Platinum | 964.03 | +3.69 | |
Oil | 110.61 | +2.35 | |
Heating Oil | 4.00 | -0.04 | |
Natural Gas | 7.98 | -0.80 |
DOWNLOAD FREE REPORTS
BROWSE COMPANIES BY SECTOR
- Agriculture Investing
- Phosphate Investing
- Potash Investing
- Base Metals Investing
- Copper Investing
- Iron Investing
- Lead Investing
- Nickel Investing
- Zinc Investing
- Battery Metals Investing
- Cobalt Investing
- Graphite Investing
- Lithium Investing
- Manganese Investing
- Vanadium Investing
- Critical Metals Investing
- Magnesium Investing
- Rare Earth Investing
- Scandium Investing
- Tantalum Investing
- Tellurium Investing
- Tungsten Investing
- Energy Investing
- Oil and Gas Investing
- Uranium Investing
- Gem Investing
- Diamond Investing
- Industrial Metals Investing
- Aluminum Investing
- Chromium Investing
- Coal Investing
- Molybdenum Investing
- Tin Investing
- Precious Metals Investing
- Gold Investing
- Palladium Investing
- Platinum Investing
- Silver Investing
- 3D Printing Investing
- Bitcoin Investing
- Blockchain Investing
- Cleantech Investing
- Cloud Investing
- Cryptocurrencies
- Data Investing
- Emerging Tech Investing
- Artificial Intelligence Investing
- Mobile Investing
- Robotics Investing
- Fintech Investing
- Gaming Investing
- Esports Investing
- Nanoscience Investing
- Graphene Investing
- Nanotech Investing
- Security Investing
Featured stocks
Investing News Network websites or approved third-party tools use cookies. Please refer to the cookie policy for collected data, privacy and GDPR compliance. By continuing to browse the site, you agree to our use of cookies.