Thailand: Coastal to Bring Two More Bua Ban North Wells Online

Coastal Energy Company, an independent exploration and production company with assets in Thailand, announces an update of its offshore operations. The company has drilled two additional producing wells and one water injection well at Bua Ban North.

One of the producing wells was drilled horizontally, has been tied in and is currently producing. The Company has two more wells to bring online at Bua Ban North. Current offshore production is averaging 26,000 bopd, bringing total company production to 28,000 boepd. The rig is now being mobilized to Bua Ban South and is expected to spud the first well there by the end of February.

Randy Bartley, President and CEO of Coastal Energy, commented:

“Our offshore operations continue to progress as planned. The recent wells at Bua Ban North showed results consistent with our prognoses. Most importantly, the horizontal well at Bua Ban North B is performing similarly to the horizontal well which was drilled at Bua Ban North A in 2011. This further confirms our thesis that horizontal wells will be a significant tool in the development of this field.

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Offshore Energy Today Staff, February 23, 2012