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Baker Hughes Joins with San Leon for Polish Siekierki Gas Ops
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San Leon Energy PLC announced on Wednesday, February 12, 2014 it had signed a Letter of Intent with Baker Hughes Poland S.P. z o.o. for joint development of the Siekierki gas field in Poland, according to a report by Nasdaq.com.
This includes concessions 206, 207, and 208. Gas production will start from four existing wells. Trzek-1, Trzek-2ZH and Trzek-3H on the Siekierki structure, as well as the nearby Krzesinki-1.
Baker Hughes will provide funding for recompletion and production in cash, services, or combination. In return they will receive recoupment profits and as yet agreed net profit interest.
This agreement comes in the wake of Poland's uncertain future in regard to shale gas. Numerous companies have dropped their interest in the play over the last year due to less than stellar…
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