World of Oil ///

DNO spuds Iraqi well Norway’s DNO successfully drilled its first exploration well on a PSA agreement area in Iraqi Kurdistan. The well had reached 3,100 m as of press time in late March, enroute to total depth within a few days. Tawke # 1’s data were being evaluated, to optimize an additional data acquisition program for the well. DNO said that several well tests would be performed, to evaluate hydrocarbon prospectivity and potential commerciality. While preparing for the well test program, the Tawke # 1 was temporarily suspended and the rig was moved to a new site to drill a second well in the PSA area. Chevron is up in GOM Chevron said its US Gulf of Mexico production will be up 25% in the first quarter, but that its overseas output, which is nearly two-thirds of its production, is down about 4%, at 1.89 million bopd.

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