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New South Sea discovery tested to produce more than 35 MMcf/d
China National Offshore Oil Corporation (CNOOC; ticker: CEO) announced yesterday a new “mid-to-large sized” natural gas discovery.

The find, Lingshui 25-1, is located in the northeast of Ledong Sag in the Qiongdongnan Basin of the South Chinese Sea. The discovery well Lingshui 25-1-1 was drilled and completed at a depth of about 4,000 meters (13,123 feet) and encountered the oil and gas pay zone with a total thickness of about 73 meters (240 feet).

The company reported the we...


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