Three wells recently completed on the SW1, L44/43, and L33/43 licenses in north-central Thailand had combined initial production exceeding 4,000 b/d and pushed total output to 9,466 b/d of light oil in July, reports Loyz Energy Ltd., Singapore (OGJ Online, May 15, 2014).
Although total well capacity exceeds 10,000 b/d, production probably will be limited to 4,000-6,000 b/d for the rest of 2015 for reservoir management, according to Loyz. A subsidiary, Loyz Thailand Oil Pte. Ltd., holds a 20% interest.
Drilling continues in the license area, which is about 300 km north of Bangkok in the Petchabun Tertiary rift basin.
Loyz said an independent assessment increased proved reserves to 11.6 million bbl of oil as of last Dec. 31 and proved and probable reserves to 34 million bbl.
ECO Orient Energy (Thailand) Ltd. operates the licenses with a 60% interest. Berlanga Group holds the other 20% interest.