An international unconventional oil and gas operator has stabilised a new well in the US.
BNK Petroleum (TSX: BKX) said the Brock 9-2H well (100% working interest) averaged about 730 barrels of oil equivalent per day (BOEPD), of which 625 barrels are oil, for the last 5 days.
It is still producing back completion fluid.
The production from the well, which is located in BNK’s Tishomingo field, in the SCOOP region of Oklahoma, is currently over 600 BOEPD, of which 520 barrels are oil (87%) and appears to be stabilizing.
Wolf Regener, president and chief executive, said: “Our Brock 9-2H well is currently producing oil at rates that are 39% higher than the possible type curve used to estimate the reserves attributed to the company’s Tishomingo Field.
If the production follows a similar path to our previous well, the Hartgraves 1-6H, then it should have an excellent 30-day initial production (IP) rate, well over the possible type curve.
“The Brock 9-2H well was identified as a possible location on our year end 2016, NI 51-101 reserve report and is about a mile east of the closest proved location on that reserves report. This well demonstrates the excellent production that is achievable as we continue to expand our drilling in the field further east.”
Mr Regener added: “This outstanding result comes in addition to the strong results from our previous well, the Hargraves 1-6H. The Hargraves 1-6H well produced a 30-day IP rate of 385 BOEPD (317 barrels oil), which oil rate is above the probable type curve used to estimate the company’s reserves.
“These two wells bring our current production to over 1,800 BOEPD which has significantly increased our cash flow.”
BNK Petroleum is an international oil and gas exploration and production company focused on finding and exploiting large, predominately unconventional oil and gas resource plays.
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