LONDON (Alliance News) - Indian gas and condensate producer Oilex PLC on Monday said production from the Cambay-77H well, which recently restarted, is building up to meet the demand of the low pressure market.
Since restarting production, the well produced 715 barrels of oil equivalent in the first ten days, comprised of 252 barrels of condensate and 2.7 million standard cubic feet of gas. Sales have averaged 267,000 standard cubic feet per day with a maximum peak rate of 572,000 standard cubic feet per day.
That production over the first ten days equates to just over 71 barrels per day, which is up from only 51 barrels earlier this month, as the well is flexible enough to increase as demand builds, Oilex said. Gas is currently sold into the local market.
"Cambay continues to deliver positive results with Cambay-77H gas production gradually increasing as the low pressure gas market demand permits," said Oilex Managing Director Ron Miller.
The Cambay-73 well remains shut-in because the Cambay-77H well is meeting current demand.
The Bhandut-3 well, on the nearby Bhandut field, also is ready to kickstart production alongside its associated production facilities, with commercial production set to begin in early January, initially targeting production of around 700,000 standard cubic feet per day.
Oilex said it working with its joint venture partner on rescheduling the drilling of the Cambay-78H and Cambay-80H wells and said the pair are trying to resolve an outstanding receivable owed to the joint venture.
Oilex shares were trading up 3.5% to 0.595 pence per share on Monday.
By Joshua Warner; joshuawarner@alliancenews.com; @JoshAlliance
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