(Alliance News) - Gas firm Valeura Energy Inc on Thursday said production testing at the Inanli-1 well in Turkey's Thrace basin has achieved positive results.
Thee zone was accessed via two intervals at 3,899 metres to 3,925 metres deep, and at 3,855 metres to 3,876 metres.
Valeura flowed the well over ten days once natural gas flow was confirmed. The average net gas rate over the ten days was 442,000 cubic feet per day, stabilising at 247,000 cubic feet in the last 24 hours.
Valeura said this gas is "richer in condensate" than the gas from deeper zones testing at Inanli-1, and water production rates declined over the ten-day period.
"All tests to date have been completed without any safety or environmental incidents. Flaring has been minimised with almost all of the produced gas being sold into the company's infrastructure. This third test has now concluded, and the company is currently preparing the well for the stimulation and testing of the fourth zone of interest," said Valeura.
"Data gathered through the stimulation and testing programme will help define the company's next steps to demonstrate the commerciality of its ten trillion cubic feet of unrisked gas resource, including 236 million barrels of condensate, net to Valeura."
Valeura shares were 1.6% higher on Thursday in London at a price of 194.00 pence each.
By George Collard; georgecollard@alliancenews.com
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