W&T Offshore’s find at Ewing Banks
USA “We expect recovery from the well to exceed our pre-drill estimates and we anticipate that the well could be online and flowing by the end of the second quarter,” the company’s spokesperson said in a written statement on Thursday.
W&T predicts that the well has reserves of 1.2 million barrels of oil equivalent. It is estimated that the field has between 35 and 70 million barrels of oil equivalent. As of March 2015, the field has produced 15 million barrels of oil equivalent with 79% oil.
Both W&T and Brazilian state-run company Petrobras equally operate the block.
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