WorldWide Drilling Resource

44 JANUARY 2014 WorldWide Drilling Resource ® Schlumberger Wins Drilling Contract for Paraguay Project Adapted from a Press Release by President Energy President Energy announced it has awarded an 18-month contract for the provision of project management and integrated drilling and completion serv- ices, including well site supervision and engineering for its Paraguay drilling pro- gram, to Schlumberger. President Energy acquired over 600 miles of 2-D seismic data and over 300 square miles of 3-D seismic data last year on its two very large concessions (over 6100 square miles) in the Pirity Rift Basin in Paraguay. Early seismic processing and inter- pretation results are very positive and show the possibility for a significantly expanded resource potential compared to the basin estimate of 159 million bar- rels (mmb) of oil risked published in the CPR (competent persons report) last year. At least two major structural play fairways have been identified and although it is still early in the interpretation phase, management believes the total resource potential of greater than 500 mmb oil risked could be a realistic possibility. Peter Levine, chairman of President Energy said, “We are very pleased to have reached this agreement with Schlumberger. Schlumberger has been involved with the project from the earliest stages of basin study, and we feel their desire to tender these services in the operational phase is a significant vote of confidence for our project.” This contract marks an acceleration in activity as the company prepares to spud its first well later this year. “With theWorld Bank announcement and now Schlumberger coming onboard, alongside our own experienced and ex- panded management, we are building a strong team ahead of our material drilling campaign next year.” Schlumberger trans cont’d on page 62. Focus on TGWA It is time once again for the Texas Ground Water Association (TGWA) Annual Convention and Trade Show in Lubbock, Texas! Held at the Overton Hotel and Lubbock Memorial Civic Center, January 29-31, this is the premiere event for the Texas water well industry. Get in on the action Wednesday morning at 9:00 a.m. with an 18-hole golf tournament. Get a sneak peek of the exhibit floor during the Meet and Greet with Exhibitors from 3:00 p.m. - 6:00 p.m. Wednesday after- noon. Don’t miss the scholarship auc- tion where you can bid on some in- credible items! The trade show opens at 8:30 a.m. on Thursday, and will run until 11:00 a.m. It will feature the hottest new products and services for today’s water well professional. The annual awards luncheon will be held from 12:15 p.m.-1:30 p.m. and then the trade showwill continue until 3:30 p.m. Continuing education classes will run from 3:30 p.m. - 5:30 p.m. Later that evening at 7:00 p.m., a three-game bowl- ing tournament will be held. Continuing education opportunities will continue on Friday from 8:00 p.m. - 12:00 p.m. For more information, contact Leroy Goodson 512-472-7437 or visit www.tgwa.org Everyone had a great time at last year’s show! WWDR photos. Stop by the WWDR WWDR booth #910!