RE: Balcombe13 Oct 2023 15:28
After finding the Balcombe RNS these are the correct figures.
Angus Energy Plc (LSE:ANGS), a leading UK conventional oil and gas production and development company, is pleased to announce the completion of the 7-day flow test programme for the horizontal well, Balcombe-2z.
The test utilised Nitrogen and coiled tubing to clean and prime the well which when removed allowed a natural flow at 853 bopd equivalent, not including 22.5% water. A second flow period was undertaken with the well flowing naturally at 1,587 bopd equivalent, not including 6.6% water.
The Balcombe-2z well produces from a single Micrite Layer, just one of the Kimmeridge Micrite Layers. During the initial flow period, the well slugged at up to 3,000 barrels per day which had to be reduced as it exceeded separator operating capacity. Duration of the test runs were limited.
No CO2 or H2S were observed or measured.
The water produced was not expected, the Company's testing team believes a small high-pressure water zone was intersected in the horizontal section of the well which will require isolation in the future. Currently, the testing team believes the water production is not from the main Kimmeridge Reservoir itself but through fractured communication. To correctly identify the water zone, a Production Logging String was run on coiled tubing. Unfortunately, the coiled tubing equipment supplied by a third-party service provider, failed after the second test resulting in a delay. Subsequently only two flow tests were performed before the test had to be concluded due to planning restrictions. All the collected data is being further analysed and the company will provide an update in due course.
The Company believes based on the results of this 7-day flow test, it can isolate the water producing zone and establish commercial production under normal pumped production conditions.
Sign In
Follow the stocks
