Galveston
Location: Texas, Federal Waters
Area: 23 km2 (5,760 acres)
Sterling Equity: 15.75% WI; 10.7% to 11.3% NRI
Sterling currently has an interest in one producing block in the Galveston area. This field has been a prolific producer from the Miocene Rob L and Rob M sands. Additional development work is planned for this field. Sterling Energy has a 15.75% working interest. The field’s productive intervals are Middle to Lower Miocene reservoirs. Cumulative production from October 1987 to present is in excess of 43 BCF, with two wells currently producing. The #7 attic location was drilled in 4th quarter of 2006 encountering pay in the lower Rob L, Rob M and Gyro 9D sands. This well is scheduled to come on line in March 2007. Sterling has a 17.36% WI in this discovery. Daily field production should significantly increase when this well is brought on line.
Location: Texas, Bay Waters
Area: 23 km sq (5,760 acres)
Sterling Equity: 15.75% WI; 10.7% to 11.3% NRI
Galveston Bay
Sterling participated in an exploration discovery in Galveston Bay south of Houston. The well was completed in the lower Oligocene section, with production beginning in the 2nd quarter of 2006.
