STAYING IN THE ZONE

Oil and Gas Investor This Week,  September, 2007  by Duey, Rhonda

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Taking a chance on new technology can pay. Warren Resources Inc. did this in its Wilmington Townlot Unit in Los Angeles--a new and unique well-placement technology, PeriScope 15, a product of Schlumberger, and the results have been amazing.

The field, discovered in 1936, has been drilled extensively with vertical wells chasing four producing horizons--Tar, Ranger, Upper Terminal and Ford. Since 1971, Upper Terminal has been under waterflood. It was this project that piqued New York-based Warren's interest in the late 1990s.

Warren bought 50% of the field in 1999 from a small operator. "Oil ...

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