Nostra Terra, the AIM quoted oil and gas producer, with a growing portfolio of horizontal and vertical drilling projects in the USA, is pleased to provide an update on the Verde Prospect, located in Colorado.The third well has reached total depth (TD), drilling has ended and completion operations are now underway.
Drilling in the primary pay zone was interrupted to perform two Drilling Stem Tests (DST). The second test resulted in free gas nearly reaching the surface and recovery of several hundred feet of liquids, a mixture of gas and oil, plus oil and gas cut drilling muds, the majority of which was oil. No free water was reported. Pressures increased moderately throughout the DST, indicating that the rate of formation fluids entering the pipe was rising. The decision has been made to run production pipe into the hole, cement it into place and complete the well. The drilling rig has now been released and completion operations will take place in the coming weeks.
Nostra Terra owns a 16.25% working interest in this program of development wells, but has recently increased its working interest in this well to 17.54%. The prospect is operated by Plainsmen Partners, LLC and is located in south-eastern Colorado.
Alden McCall, Chief Operating Officer of Nostra Terra, explained:
"A Drill Stem Test is a very useful procedure that is commonly used to determine the fluid content and fluid pressures within the rock formations encountered during drilling. The zone under evaluation is isolated from the rest of the hole which reduces the pressure vertically on the formation and allows fluids to enter the drill pipe. The fluids separate into gas, oil, water and drilling fluids which are then measured along with any pressure changes of the formation. We like to see gas and oil entry but water content of "low-to-none". We also look for increasing fluid pressure as an indication that the formation is "cleaning up". Decreasing pressure measurements would have indicated a limited reservoir or a "tight formation" and would have been less encouraging
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