Hurricane Energy announced on Friday that it found a "very significant hydrocarbon column" after initial testing of its 205/21a-7 well located within the UK Continental Shelf.
According to the British-based oil and gas firm, the column of at least 620 meters was located following preliminary testing of the well at Hurricane's site in the Lancaster Field. Testing of the well's basement reservoir also yielded a maximum natural flow rate of 6600 barrels per day (bpd) of oil as well as a maximum flow rate of 11,000 bpd. Hurricane reported that the oil extracted from the reservoir is "good quality" 38 API oil.
Another promising sign for the well deemed by Hurricane as a "Pilot Well" was observed when wireline and well test data indicated that there were no pressure barriers detected in the reservoir. Additionally, the penetrated aquifer interval was porous and permeable per Hurricane's test.
"I am delighted that the Pilot Well has confirmed a significant oil column deeper than the 2C Case set out in the Company's CPR," declared Dr. Robert Trice, Hurricane's CEO.
"Our initial assessment of the well results, which are subject to refinement of the provisional data, suggest that the Lancaster field is likely to be significantly greater than the 200 million barrels 2C case. The combination of high flow rates, an extensive oil column and underlying aquifer materially de-risks Hurricane's plans for a future Lancaster field development and further underlines the potential of the fractured basement West of Shetland," added Trice.
The next step for Hurricane is to drill a horizontal well, which the company believes will provide a second future production well and additional information to help plan development of the Lancaster field.
Interim results of the additional drilling will reportedly be provided on September 22, 2016.
The field was granted official oil field status by the UK Oil and Gas Authority nearly one year ago on September 10, 2015.
By Erwin Cifuentes for Oilprice.com
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Erwin Cifuentes is a Contributing Editor for Southern Pulse Info where he focuses on politics, economics and security issues in Latin America and the Caribbean.… More
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