Hurricane Energy plc, the UK based oil and gas company focused on hydrocarbon resources in naturally fractured basement reservoirs, announces that testing operations on the 205 21a-7Z Well (the "Horizontal Sidetrack Well") have been completed and the Company is now proceeding to suspend the well as a future producer, providing a second production well ahead of the Early Production System (EPS) phase of development.
The productivity from the 1km Horizontal Sidetrack Well is consistent with that achieved in Hurricane's 205 21a-6 horizontal well, which was successfully drilled on Lancaster in 2014.
Testing of the Horizontal Sidetrack Well recorded a sustainable stable flow rate under natural conditions of 6,520 stock tank barrels of oil per day (STB/d) and a sustainable flow rate using an Electrical Submersible Pump (ESP) of at least 14,500 STB/d. The testing resulted in a productivity index (PI) of 147 STB/d per pound per square inch (psi).
Both the flow rate using an ESP, and the natural flow rate were constrained by the test equipment and no formation water was produced during the testing operations.
Following the removal of the wear bushing from the 205-21a-6 well, the Company anticipates announcing the spudding of the Lincoln Well.
Dr. Robert Trice, Hurricane's CEO, commented: "We are very encouraged by these excellent test results which support the Company's plans for a Lancaster field development and demonstrate that we now have two highly productive horizontal wells which we will use in our EPS.
We will now be progressing a new Competent Person's Report (CPR) which will incorporate data gathered from this year's drilling campaign. The CPR publication date is targeted for 1H 2017 to coincide with approval of the Company's field development plan for the Lancaster EPS."