President Energy Strikes Oil at East White Lake Field

By Alex MacDonald

LONDON–Americas-focused oil explorer President Energy PLC(PPC.LN) said it struck oil at its 22%-owned East White Lake field in Louisiana, U.S..

The U.K.-listed firm said on Monday that the A55 S/T well at the non-core, non-operated East White Lake field found in excess of 40 feet containing oil, including 28 feet of sand at a depth of between 9,360 and 9,390 feet with 25% porosity.

The well is now set to start commercial production in September and flow at a rate of at least 250 barrels of oil a day.

Meanwhile, the company said it has started drilling the DP1002 S/T well at its Dos Puntitas field on the Puesto Guardian Concession in Salta, Argentina.

The well marks the first of three horizontal wells planned for the field. The company wasn’t able to be precise on when the well will be completed, but said the three-well program is aimed at boosting output from the concession to more than 1,000 barrels of oil a day.

-Write to Alex MacDonald at alex.macdonald[a]

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