07-15-2016, 10:02 AM
(This post was last modified: 07-15-2016, 10:52 AM by SupaSage2003.)
Oil Search Says Elk-Antelope Avg. Certified 2C Resource 6.43 Tcf
Thursday, July 14, 2016 07:39 PM
by Vivek Shankar
(Bloomberg) -- Oil Search says two independent certifications on Elk-Antelope fields show average 1C resource 5.17 tcf, average 2C resource 6.43 tcf of raw gas.
- Certification sufficient to underpin two additional LNG trains in PNG
- Oil Search not required to make additional payments because certified 2C resource <7 tcf
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NOTE: CVR in InterOil deal calls for $6.05 in cash for each tcfe of 2C hydrocarbon gas resource more than 6.2 tcfe
- 3C resource range is 7.57-8.11 tcf, Oil Search says