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WOW..!! Ça va gapper!!!
ShaMaran Petroleum's Atrush-2 well tests at 42,212 bopd
2012-09-13 12:08 ET - News Release
Mr. Pradeep Kabra reports
SHAMARAN ANNOUNCES ATRUSH-2 WELL TESTS OVER 42,200 BOPD
ShaMaran Petroleum Corp. has released the results of the Atrush-2 appraisal well (AT-2) drilled 3.1 kilometres to the east and downdip of the Atrush-1 discovery well in the Kurdistan region of Iraq.
The AT-2 well was spudded on May 23, 2012, and successfully reached the planned total depth of 1,750 metres in 49 days. The well was drilled on time and 30 per cent under budget. The Jurassic Barsarin-Sargelu-Alan-Mus (BSAM) reservoir oil down to was found 97 metres deeper than that encountered in AT-1. Reservoir intervals within the Jurassic Adaiyah and the upper part of the Butmah formation were also found to be oil bearing.
Separate cased hole drill stem tests were conducted over three of the formations in the BSAM reservoir. Rates totaling 42,212 barrels of oil per day were achieved (approximately 27-degree API). The test rates were limited by surface testing equipment. None of the tests had measurable amounts of formation water.
Separate tests were also conducted in the Butmah (open hole) and Adaiyah (cased hole) formations. The highly fractured upper part of the Butmah flowed up to a maximum of 1,450 barrels of fluid per day under nitrogen lift and toward the end of the test was producing 100-per-cent nine-degree API oil. A reservoir zone within the Adaiyah anhydrite flowed up to 650 bopd of 11-degree API of dry oil. In accordance with the requirement of the production-sharing contract, General Exploration Partners Inc. (GEP) has presented a notice of discovery to the Ministry of Natural Resources of Kurdistan for the Adaiyah and Butmah.
Meanwhile in the eastern part of the Atrush block, the second phase of the 3-D seismic acquisition was completed in August, 2012, providing GEP with 3-D coverage of the entire block. Tendering is under way for the lease of an extended well test facility (EWTF) with an award expected shortly. Plans are for a recompleted AT-1 to be connected to the EWTF with first oil in early 2013.
The Atrush block is operated by the joint-venture company General Exploration Partners, which holds an 80-per-cent working interest in the block. Aspect Holdings LLC, through its Aspect Energy International LLC subsidiary, has a 66.5-per-cent interest and ShaMaran Petroleum, through its wholly owned subsidiary, ShaMaran Ventures BV, holds a 33.5-per-cent interest in GEP. Marathon Oil KDV BV, a wholly owned subsidiary of Marathon Oil Corp., holds a 20-per-cent interest in the block.
Pradeep Kabra, president and chief executive officer of ShaMaran, commented: "The results from the Atrush 2 well demonstrated the excellent production capability of the BSAM reservoir, and the discovery of additional resource potential of the Butmah and Adaiyah. We commend the operator GEP on the outstanding job done by them during the drilling and testing of the well, and look forward to continuing our work with the Kurdistan regional government to appraise and develop this world-class discovery."
We seek Safe Harbor.
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