Working Interest


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Working Interest

An operating interest in oil and gas in place that is burdened with the responsibility and cost of developing and operating the property.
References in periodicals archive ?
A 15% carried interest on drilling and completion capital expenditures incurred in each well program, proportionately reduced to Eclipse Resources retained pre-carry working interest.
Kuwait Energy, one of the few independent oil and gas exploration and production companies operating in the Middle East, has been profitable since inception in 2005, and currently operates in Egypt, Iraq, Yemen, Oman, Ukraine, Latvia, Russia and Pakistan, Kuwait Energy's working interest proven and probable reserves at year end 2011 were 235.3 million barrels of oil equivalent and its current production has reached approximately 17,750 barrels of oil equivalent per day.
Delta announced in March that it had entered into a non-binding letter of intent with Opon International LLC of Denver to sell a 37.5 percent non-operated working interest in Delta s Vega Area assets for $400 million, of which about $225 million would be spent to develop the field.
SOCO holds a 25% working interest in the Ca Ngu Vang field of Block 9-2, which is operated by the Hoan Vu Joint Operating company.
Earthstone drilled a two well pad in the Davis Unit (16.7% retained working interest) and three wells in the Pilgrim Unit (18.9% retained working interest).
American Natural Energy Corporation (ANEC), an Oklahoma- based independent exploration and production company, has reached an agreement with eight working interest owners to acquire an aggregate additional 5.875 percent share of the working interest in its Bayou Couba Field, St.
The SPA sets out terms whereby the costs of up to six exploration wells relating to DNO's retained working interest, at a cumulative budget cost of NOK285m excluding contingency, would be carried by PA Resources.
Torchlight Energy Resources, Inc.("Torchlight" or the "Company"), today announced that it entered a Letter of Intent to increase its ownership to 74% Working Interest across all 12,000 gross acres resulting in 8,880 net acres in its Midland Basin Wolfcamp play.
UK-based oil and gas exploration company Pantheon Resources plc (LSE: PANR) has acquired additional working interest in Polk County, East Texas, the company said.
Kuwait Energy is the operator of the concession and holds a 50% working interest. The remaining working interest is held by Beach Petroleum (Egypt) Pty Ltd (22% working interest) and Dover Investments Limited (28% working interest).
The contract has been signed for the acquisition by Stone of BP's 75 percent operated working interest in the five block deep water Pompano field in Mississippi Canyon, a 51 percent operated working interest in the adjacent Mississippi Canyon block 29, a 50 percent non-operated working interest in the Mica field which ties back to the Pompano platform, and interests in certain deep water exploration leases located in the vicinity of the Pompano field.
In addition, Delta also will sell to Wapiti its working interest in its acreage positions in the DJ Basin of Wyoming, Colorado and Nebraska; and other acreage in South Texas.