Tetragon Energy has reported a significant upgrade to its gas portfolio located offshore the Philippines, according to Offshore Energy. The company, which focuses on oil and gas exploration in Asia, has more than tripled its mid-case prospective resource estimate.
The updated estimate for a key exploration prospect now stands at 8 trillion cubic feet (tcf). This substantial increase in resources could enhance the value of the acreage.
Offshore Energy indicates that this resource surge may also sharpen the focus on Tetragon's gas play in the region. The upgraded estimates could be a factor ahead of potential farm-out discussions for the acreage.
