WTI Crude

Loading...

Brent Crude

Loading...

Natural Gas

Loading...

Gasoline

Loading...

Heating Oil

Loading...

Rotate device for more commodity prices

Alt Text

Petronas Halts all Imports of Iranian Crude in South Africa

Engen, a South African based unit of Petronas, has announced that it has halted all crude imports from Iran, which used to account for 80 percent of

Read more +
Alt Text

Acquisition of Maari 3D Seismic Survey Commences

Cue energy has just released good news regarding permits for projects in New Zealand

Read more +
Alt Text

Environmental Approval Extended for Tassie Shoal LNG Project

MEO Australia Ltd has just received environmental approval for its Tassie Shoal LNG project.

Read more +

Cue Energy to Evaluate Results from Indonesian Well

Naga Utara-1 Well, Mahakam Hilir PSC, Indonesia

Cue Energy Resources Ltd (ASX: CUE; NZX: CUE) is pleased to provide the following update on the drilling status of Naga Utara-1as advised by the well operator is SPC Mahakam Hilir PTE Ltd (SPC). The well is located within the Mahakam Hilir PSC in the Kutei Basin, Indonesia.

The well reached a total depth of 5066 ft MD. The 6 inch hole section was evaluated using wire-line tools and an open-hole DST (drill-stem test). A cased-hole DST was then conducted on a zone of interest in the 8-½ inch hole section.

An MDT log recovered a gas sample from the 6 inch open hole. The open-hole DST was not effectively completed as formation collapse appears to have inhibited flow from the open-hole section. Gas and a small quantity of oil was produced to surface from the well initially but over a period of around an hour the flow-rate reduced to a rate which was below the rate which could be measured. A stable flowing pressure and rate could not be achieved. It is believed that the testing result would have been more conclusive in a larger diameter, cased-hole.

A cased-hole DST was performed after perforating the 8-½ inch section. After swabbing, small amounts of gas together with probable formation water were produced. Both gas and water rates were not accurately recorded. The interval was plugged as this formation is considered a tight gas or gas/water zone which is unlikely to yield commercial production.

The well will now be plugged and suspended pending possible further evaluation. The rig will move to the Naga Seletan location over the next few days.

The participants and their respective interests in the PSC are:

SPC Mahakam Hilir Pte Ltd (Operator) 60%
Cue Mahakam Hilir Pty Ltd 40%

This is the final report Cue will release regarding well operations.

Click on the above pdf to read the full release.

Oilprice - The No. 1 Source for Oil & Energy News