This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

GTU Process Plant View

The 11 wells already completed have been tested with open choke (3/4") and showed average flow rates of 400,000 - 500,000 m3/day each.

In addition, at the end of September, we obtained the Operating License from the Environmental and Natural Resources Secretary of the State of Maranhão (SEMA/MA) authorizing production of natural gas in the Gavião Real and Gavião Azul fields.

The project is in its final stages as described by the current activities at the site: i) mechanical and instrument assembly, electrical wiring and instrumentation; ii) test of control networks in the clusters and the GTU; iii) pipelines in place; iv) construction of the administrative buildings with offices, workshop and laboratories, all in pre-fabricated metallic structures; and v) leakage tests in the tanks in final phase.

Natural gas production at the Gavião Real Field will begin in the fourth quarter of this year, with the commissioning of the GTU and the MPX Parnaíba Thermoelectric Complex turbines. Commercial generation of power will begin in 2013.

Parnaíba Basin Exploratory Campaign

After the discovery of the Bom Jesus accumulation last year, identified through the OGX-34 well, the Company drilled appraisal wells to test the extent of this accumulation. In addition to the drilling and well test of the OGX-88 well in July, we also concluded the drilling of another two appraisal wells in the region in 3Q12, OGX-91D and OGX-95, both of which contained discoveries of hydrocarbons in the Carboniferous section of 23 and 4 meters of net pay, respectively. After the evaluation of the results from the wells, OGX submitted the Discovery Evaluation Plan (PAD) for the region to the ANP, which has already been approved.

We have initiated the drilling of five new prospects in this basin – Santa Maria (OGX-92), Rio Corda (OGX-93), Peritoró (OGX-96), Basílios (OGX-97) and Norte California (OGX-98). The OGX-92 and OGX-93 wells were concluded in the Fazenda Santa Maria and Rio Corda prospects; however, neither well showed indications of hydrocarbons. Currently, 3 exploratory wells are still in progress - the first exploratory well in the PN-T-50 block in the Peritoró prospect, OGX-96, OGX-97 in the Basílios prospect and OGX-98 in the Norte California prospect.

8 of 14

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $94.19 0.00%
FB $118.06 0.00%
GOOG $695.70 0.00%
TSLA $222.56 0.00%
YHOO $36.00 0.00%


Chart of I:DJI
DOW 17,651.26 -99.65 -0.56%
S&P 500 2,051.12 -12.25 -0.59%
NASDAQ 4,725.6390 -37.5850 -0.79%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs