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Well exploration in East Texas exceeds Horizon's expectations

GULFPORT — Horizon Energy Corporation reports better-than-expected results for its exploration project in East Texas, and has received the first proceeds from the initial well. The well came out of workover and stimulation operations in July. Horizon is conducting the joint exploration project with Ponta E&P and is currently evaluating other drilling opportunities with Ponta that can be recompleted in ...

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Horizon 'optimistic' after testing in Texas shows oil, gas

GULFPORT — Horizon Energy Corporation is “optimistic” after fracture stimulation testing at the Holmes Oil Unit Number 1 in Cherokee County, Texas. Swabbing procedures have confirmed the presence of oil and gas in sufficient quantities to warrant scheduling production. A workover rig will arrive onsite within the next two weeks to put pump equipment back into the well and the ...

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Horizon Energy rolls out Intellipumper for digital oil fields

GULFPORT — Horizon Energy Corporation (OTCQB:HORI) has introduced the Intellipumper, a new rod pump control solution to optimize the reliability and energy efficiency of pump wells. The Intellipumper was designed for digital oilfields and comes ready for use, featuring cable-free installation, integrated supervisory control and data acquisition (SCADA) communications, wireless control and low maintenance. “Our goal is to provide operators ...

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Oil exploration company gets $400M from private equity firm

WILKINSON COUNTY — A private equity firm will invest up to $400 million to support efforts by Houston-based Halcón Resources Corp to drill for oil on the 314,000 acres that Halcón has leased in the Tuscaloosa Marine Shale of southwest Mississippi and southeast Louisiana. Halcón said yesterday that it would sell $150 million in preferred stock to Apollo Global Management, ...

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Gulf well blows, spews natural gas off La. coast

GULF OF MEXICO — Natural gas flowed uncontrolled from a well off the Louisiana coast today after a blowout that forced the evacuation of 47 workers aboard a drilling rig, authorities said. No injuries or fires were reported. The federal Bureau of Safety and Environmental Enforcement said inspectors flying over the site Tuesday saw a light sheen covering an area ...

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Company uses 'bridge plug' on Gulf gas well

GULF OF MEXICO — A well that seeped natural gas for several days last week has been temporarily plugged, with work still needed to plug it permanently, federal regulators say. The Bureau of Safety and Environmental Enforcement said today that Energy Resource Technology, LLC used a “bridge plug” to isolate the lower part of the well about 75 miles off Louisiana’s ...

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