New production techniques combined with new technologies have given new
life to old wells and unconventional reserves. NHE continues to pursue opportunities
to find more oil and gas. These well defined projects
are proving quite successful. Active projects have successfully
found oil and gas in Louisiana, Oklahoma and Texas, with several
more wells yet to drill.
After considering other huge oil companies such as the National Oil Companies
of China and India, Petrotrin, the National Oil Company of Trinidad &
Tobago, chose NHE's subsidiary, New Horizon Trinidad & Tobago, Ultd.,
to develop and produce the remaining heavy crude in a lease block in southwest
Exploration Trinidad & Tobago with the National Oil Company of
Trinidad & Tobago, Petrotrin, has now drilled outtake wells and
injection wells in the Parrylands Block E.
Exploration operates the joint venture project. The field was developed
over five years. Wells are now in the Huff and Puff stage of the steam
flood project. Initial results
indicate that there are structural and stratigraphic complexities that
are now just being revealed due to the increased density of
drilling. 2007 will be a time when
additional wells will be drilled to increase the efficiency of the
NHE's drilling rig is
the first land-based rig to arrive on the island or Trinidad in two
decades. The rig completed all the drilling operations for NHE and is now
under contract with other operators drilling in the southern portion of
the island of Trinidad, just 11 miles from
OPEC-member country Venezuela.
The recent formation
of an exploration consortium hopes to expand onshore drilling in Trinidad.
New Horizon will take an active role in education in Trinidad, by the transfer of
knowledge, experience and technology to Petrotrin and students on the
island, through technical and hands-on training at various stages of the