Oilex Ltd Cambay Workover Update (2844I)
December 08 2015 - 1:00AM
UK Regulatory
TIDMOEX
RNS Number : 2844I
Oilex Ltd
08 December 2015
ASX Announcement
8 December 2015
ASX: OEX
AIM: OEX
Cambay Workover Update
l Cambay-77H gas is being sold at a peak rate exceeding 110
boepd, via Cambay-73 facilities
l Cambay-19z oil production 12 bopd plus associated gas
l Cambay-20 Hydraulic Lift Pump (HLP) installed
Oilex Ltd is pleased to provide the following workover
update:
Production from the Cambay Field is now 75 boepd and may
increase in line with demand from the local low pressure gas market
now that Cambay-77H is online.
Cambay-77H
The Cambay-77H workover is complete and, based upon cumulative
production since restarting the well, is now averaging 51boepd via
the flowline connection to Cambay-73 facilities. The well is
producing through a 1/64 inch choke and the tubing head pressure is
2,600 psig and steady. Production from Cambay-77H is meeting the
demand from the local low pressure gas market, including a peak
demand rate of 0.500MMscfd for 1 hour period that occurs twice
daily. At peak demand, gas is being sold from Cambay-77H at greater
than 110boepd using the average condensate to gas ratio (CGR) of
55bbls/MMscf since restarting the well.
The well performance is being closely monitored subsequent to
recommencing production and a fuller understanding of its
deliverability potential will be gained from ongoing production.
Although demand for local gas fluctuates according to peak demand
times as noted above, it is anticipated that overall gas demand
from the local low pressure gas market may gradually increase now
that Cambay-77H is online. An increase in the market overall will
be dependent on successful marketing efforts in India. This
marketing is underway.
As anticipated, the newly installed production tubing has
improved the flow performance of the well compared to flowback and
testing operations during 2014. The workover rig installed the
production tubing without having to kill the well, this is believed
to be the first time this activity has been successfully
accomplished in a horizontal multi-stage frac'd well in India.
Cambay-19z
Cambay-19z is now producing oil at 12 bopd plus associated gas
from the Eocene (EP IV) formation, and is within expectations. The
associated gas is used at site to power the pump. The operation to
reposition the downhole pump has been successful. The well has also
been fitted with a chemical injection system to improve flow
performance. Cambay-19z is located approximately 1.4 km to the west
of Cambay-77H.
Cambay-20
Installation of the HLP unit and downhole pump is complete and
pumping out of the brine has commenced. Gas has been detected at
surface in a similar manner to Cambay-19z. Cambay-20 has previously
been an intermittent oil and gas producer without using a downhole
pump. It is located approximately 200 metres from Cambay-77H and
associated gas not used to power the pump is transmitted to the
Cambay-73 gas treatment facilities.
Other potential workover candidates
The future possible workover list has 6 new candidates for
consideration. As previously announced, subject to ongoing
discussions with our Joint Venture Partner regarding cashcall
payments, a decision will be made in relation to further workovers
after the Cambay-60 workover is complete.
Managing Director of Oilex, Ron Miller, said;
"The Cambay workover campaign continues to deliver positive
results with oil production from Cambay-19z meeting expectations
and the deliverability of Cambay-77H gas production enhanced with
successful installation of the production tubing. Overall, in
relation to the Cambay Field, Oilex is now focussing on its
objective of achieving a production rate target of 150 boepd."
For and on behalf of Oilex Ltd
Ron Miller
Managing Director
For further information, please contact:
Investor Enquiries Nominated Adviser Media Enquires
Oilex Ltd Strand Hanson Limited Vigo Communications
Ron Miller Nominated Adviser Public Relations UK
Managing Director Rory Murphy/Ritchie Patrick d'Ancona/Chris
Email: oilex@oilex.com.au Balmer McMahon
Tel: +61 8 9485 3200 Email: oilex@strandhanson.co.uk Email: patrick.dancona@vigocomms.com
Australia Tel: +44 20 7409 3494 chris.mcmahon@vigocomms.com
UK Tel: +44 20 7016 9570
UK
=========================== ================================= ======================================
This information is provided by RNS
The company news service from the London Stock Exchange
END
MSCUWUARVUAURRA
(END) Dow Jones Newswires
December 08, 2015 02:00 ET (07:00 GMT)
Synergia Energy (LSE:SYN)
Historical Stock Chart
From Apr 2024 to May 2024
Synergia Energy (LSE:SYN)
Historical Stock Chart
From May 2023 to May 2024