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Production Update for Shoats Creek Field, Louisiana
North American Petroleum has issued a production update for the recently acquired 1,670 gross acre Shoats Creek Project, in Louisiana.
NAP holds a 35%/26.25% working/net revenue interest in Shoats Creek alongside Northcote Energy (35% WI), and Springer Oil & Gas (30% WI).
* Excellent initial gross flow rates from the workover of two wells, Lutcher
Moore #9 and Lutcher Moore #14, at Shoats Creek, generating a combined 39.5
boepd net to NAP (based on a 72 hour test)
+ Lutcher Moore#9: 67.3 BOPD and metered 117 MCF/D equating to 86.6 boepd
gross and 22.75 boepd net to NAP
+ Lutcher Moore#14: 40 BOPD and metered 145.5 MCF/D equating to 64.25
boepd gross and 16.8 boepd net to NAP
* Production and sale of produced oil volumes to begin immediately – natural
gas production and sales to commence on completion of infrastructure to
permit sale
* Following the success of Lutcher Moore #9 and #14, two of five Cockfield
Sands workover opportunities identified, the partners are accelerating a 12
month work programme including workovers of existing well bores and the
drilling of new wells to significantly increase production:
+ Work has commenced on the Lutcher Moore #12, originally completed in
the Frio formation
+ Permit received to drill a twin to the Lutcher Moore #16, to be called
the Lutcher Moore #20 targeting multiple Frio sands at a depth of 4,500
to 5,030 feet
* Shoats Creek has historically produced primarily from the Cockfield
formation and has significant low cost development potential including:
+ Workovers and recompletions to both existing and new payzones of 22
existing well bores
+ Multiple new drill targets in multiple formations including the
Cockfield, the Frio and Wilcox identified using 3-D seismic data
NAP’s Managing Director Stefan Olivier said, “The excellent initial production rates achieved by the Lutcher Moore #9 and Lutcher Moore #14 wells not only add 39.5 boepd to NAP’s net production, they also highlight the tremendous opportunity we have identified at Shoats Creek to significantly increase production through the workover of existing well bores and the drilling of new wells. With a third workover underway and permitting secured to drill a new well on the Project, I look forward to providing further updates on our progress, as we look to rapidly grow production and prove up the reserves across our 2,107 net mineral acres in producing US onshore formations.”
