Alaska: Kenai gas flow estimate exceeds expectations

By OGJ editors
HOUSTON, June 1
– CAOF potential at the Kenai Loop-1 well near Cannery Loop gas field is 33.2 MMcfd, much higher than expectations, said Buccaneer Energy Ltd., Sydney.

The high AOFP demonstrates the excellent permeability and porosity of the two Upper Tyonek zones perforated and tested, Buccaneer said.

The long-term deliverable production rate from the well has been estimated as 6-8 MMcfd which is expected to hold for 2 years and will facilitate a favorable gas sales contract. The expected floor price of gas in south-central Alaska is $7/Mcf.

Upside potential exists in the area from 14 other zones with a combined 423 ft of gross pay not yet tested. Buccaneer’s contiguous block in the area is in excess of 8,900 acres.

The company is finalizing a development program for the Kenai Loop project that will include drilling Kenai Loop-2 well, initiating production, shooting seismic, and further drilling.



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