News

May 26, 2009

Providence Resources Nears 2009 Production Goal With Vermillion 60 Boost

Providence Resources continues its push to achieve a target production of 3,000 barrels of oil equivalent per day (boped) by the end of 2009.

It is making good time. After hitting an earlier 2,000 boepd goal last July – ahead of schedule – the company has just added an extra 300 boepd from Vermillion 60 (VR60), a shallow water field off the US, about 20 km south of Louisiana.

It follows the successful re-completion of the existing A7 well to reach a new production zone, which Providence said contained “excellent reservoir characteristics”.

The new production area is now flowing at around 5 MMSCF of gas per day...